Took a look at my dads car insurance yearly bill this year: $1400 for a '93 Pontiac!

So I'm shopping around for him, are there any deals out there?

And any negotiation tips from our panel of experts?

What's the street value of the car? Doesn't he have the discounts (around 40% max in BC for those with long safe/no-claim records) for good driving? Is the car properly rated...area and type of use?

If it's not worth a whole lot...then you can choose the "pink slip" option, no collision deductible and no comprehensive deductible. Have a million (or less if you like risk...it's a bit cheaper) for third party liability. That's probably the cheapest option IMO (based on my experiences here in BC with my old clunker, a 1984 Phoenix).

Otherwise, unless your province has a lot competition, increase the deductibles, both collision and comprehensive. Result: cheaper premiums. Third party liability is typically $1-2 million....can reduce, but at increased risk. IMO, these savings for reduced third party liability aren't worth it....big increase in risk, little monetary savings generally.

Dave

Originally posted by GoldfishLegs Took a look at my dads car insurance yearly bill this year: $1400 for a '93 Pontiac! So I'm shopping around for him, are there any deals out there? And any negotiation tips from our panel of experts?

Wow, that's quite a chunk of cash for an older vehicle. I don't have much information to give you other than I deal with Allianz Canada and have found them to be very reasonable to deal with if making a claim (accident involving myself where I was not at fault). The whole process from vehicle repair to my still receiving medical attention has not been questioned and made to look like I am out to scam them. They have even broken policy rules to pay out medical bills not covered by my medical insurance instead of forcing me to pay out of pocket first. In my dealings with them for this claim, I have absolutely no complaints.

We also get a multiple policy discount as our home, another property we own, all vehicles including RV's are insured through them. I'll get back to you on the % of the discount.

I have dealt with Liberty Mutual (I don't know if they still exist) and Canada West (Allianz may have bought them out) and found their insurance rates quite high. Last year we did some comparison shopping and the prices were best at Allianz so we stuck with them. Now isn't this unusual, I usually can't stand insurance companies, and here I am boasting about Allianz.

All I'm going to say is stay away from State Farm, and AllState. Their rates may be lower than other places, but if you EVER have a claim, you'll have more hassles than you ever dreamed of. I can't remember which of the two she was using, but a very close friend of my family is now taking her insurance company to court because they refuse to pay her claim. I've had several friends and relatives have problems with both companies, and have seen several news magazine shows (ie 20/20) do spots on both companies because of their abysmal customer service. Cheapest isn't always best!

Dominion of Canada isn't too bad. In addition, I cannot remember who bought them out (I believe the company starts with an "M"), but whoever took over Halifax insurance is supposed to be really good. I'll see if I can find out the name of the company.

That's a lot to be paying on the car, Costa, especially for your father. Is there a reason for it? Accidents or something?

I guess that's alot GFL, we have a 2000 car insured to the max, my husband is under 25 and we only pay 1250 a year. My friends aunt is our broker and she found the best price for us thru Lloyd's.
You might want to ask an insurance company about them.

Okay GFL, I am also with Allianz and recommend them for low pricing, hassle free renewals, etc. Have never had to file a claim with them, so I cannot comment on that aspect.

State Farm was my provider previously (have only been with those two companies), and did in fact have a couple of claims put through with no problems other than that they are thorough (thus avoiding fraud) and it takes some time.

I would have you check out MoneySense.ca, and have provided the direct link for information surrounding all aspects of buying insurance.

Hope it helps. Good luck.

Also check out:
Auto Insurance Guide
Car Insurance in Canada
General Insurance Companies in Canada
Compare insurance quotes
Free Canadian Auto Quotes

Thanks for the links, SBS! And thanks for the info on which to avoid.

re: why so high?
Beats me!
- No accidents in the last three years (he had one about 5 years ago, and none before that).
- Second driver is my sis, who is over 25. (no accidents either)

Maybe because it's Belair Direct, and they're simply overpriced. I'll ask them this after I get quotes from others.

Customer service is pretty good: our claims were hassle free, and I once called and spoke english and the rep noticed my correspondence was set to French. She asked if I'd like to change it English -- I liked that sort of attention to detail.

I should clarify that it is a Multi Vehicle Discount (not Policy) that we get and the discount is 10%. Also, remember, if you don't ask what types of discounts there are, they generally don't volunteer the information.

What we pay for insurance with Allianz is not substantially less than other companies, but it is just enough to keep us with them.
Call up a broker and have him do some leg work for you.

Originally posted by GoldfishLegs Maybe because it's Belair Direct, and they're simply overpriced.

Belair Direct prices aren't too bad... I'm in the process of switching to them (used to have them on a previous car also) because their quote is about 15-20% lower than my current insurance and other options.

I think accidents even more than 3 years ago are considered by auto insurers. When you fill out the form for an online quote at Kanetix or Belair Direct, you're asked for the number of at-fault accidents/claims in the last 10 years...

Originally posted by Rehan Belair Direct prices aren't too bad... I'm in the process of switching to them (used to have them on a previous car also) because their quote is about 15-20% lower than my current insurance and other options.

Get a quote from Certas (ex CIBC) as well. When I switched to them a few years ago from Cooperators they were 20% cheaper even though I'd been with Coop for ~20 years claims free.

I have no idea how Certas are with claims and I'm not anxious to find out -- at least not personally

Certas won't cover me... My wife had an accident claim (50% at fault) four years ago and a speeding ticket last year.

Hi, I'm from BC so I don't know if things are the same in Ontario. I've been buying insurance from a 3rd party for 2 yrs now, saves me approx $120 a yr to do that. You only buy basic with ICBC, (or whatever the equivalence in Ontario, but I'll use the term ICBC here) because you HAVE to, no choice there, and then you buy the rest with a 3rdparty insurance company. No problem with this arrangement since until now I haven't been involved in an acciddent.

Recently, I had a hit & run accident (where the guy took off and now outright denied the whole thing, don't get me started on that one..) and realized it's a lot more trouble this way. I have to go to ICBC anyways to report this and let them look at my car, etc, and then I have to report to my private insurance. And then the 2 of them have to sort this out so the process is longer. Also, I found that ICBC will not do an estimate for me since I bought from a 3rd party. And there's no estimator for a private insurance. What I have to do is to bring my car in to 2 body shops to get quotes (or go to one of their "approved" shops). Overall, it's just a lot more trouble. Also my private insurance company (Norwich Union) rep is a lot less helpful than the ICBC adjuster. I could only talk to her on the phone and that's only after playing phone tag with her for a few days. Basically she told me I'm screwed since I have no witness and from their point of view they don't care and I have to pay my deductible and this counts as having 1 claim. Next year I think I'll just pay the $120 bucks and go back to ICBC.

oh but btw, I don't know if this is true, but I heard there may be an advantage to buying from a 3rdparty insurance company. In BC, we can have 2 claims before your premiums go up. If you've purchased from a private insurance company and used up your 2 claims and THEN you switch back to ICBC I heard you get your 2 free claims back. Not sure if that is true though. Can anyone confirm this? I'm still trying to decide whether I should use up my 1 free claim this time or just pay to fix this myself.

I'm not sure any reccomendations on rates will be useful. A few years back someone put out a compariosn rate table for different cities/demographics/car types. A company that was cheapest for one category would be among the most expensive for another. Add in substantially different regulations between provinces and the only way is to call a bunch of brokers with your specific situation, and call the ones that only sell in house(state farm etc). Then make sure your only paying for apporpriate coverage, eg collision probably not worth it on a car that old due to the low value, so save the $ and self insure. Individual claims experiece is probably suspect too, I'm familiar with 3 State Farm accident claims including myself writing off a motorcycle. The other 2 were problem free while mine was a bit of a hassle...although was quickly settled to my satisfaction after a letter direct to te prez complete with detailed logs of all contact with the company...it pretty much came too "how much do you think your bike was worth and we'll cut a cheque"

Originally posted by zoro69 I'm not sure any reccomendations on rates will be useful.

yeah that sums it up well. Sometimes it just doesn't pay to save a few bucks. You should get some references from people who actually had claims with those companies. This is a time when cheapest is not necessarily the best "deal". Good luck.

I don't have a car, so I don't have car insurance, but when I did I had it through Monnex. I also have my home insurance with them and my Dad has all his insurance (car, home etc.) with them. With the few claims we have had, they have been totally hassel free and really helpful. The rates are VERY competetive. And you get a discount for having your home and car insurance with them (I think this is standard for most companys - maybe check your Dad's home insurance, and give that co. a call). The only catch with Monnex is that not just anyone can buy insurance from them. You have to be a member of an affiliate organization. (Alumni from almost all Canadian Universitys, or a professional association, etc.). I think this is how they keep the rates down, they are selective about who they will insure.

Call and see if your Dad qualifies.