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that is high for ontario / direct compensation rant Posted by Snowmobile [Email]  (#686)  [Profile/Gallery]
(more from Snowmobile) on Thu, 8 Nov 2012 09:22:02
In Reply to: Re: Where do you guys live?, TML  [Profile/Gallery]
, Thu, 8 Nov 2012 08:15:40
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What cars? Clean driving record? Maybe you should look into other insurers? I've been happy with TD Meloche Monnex, but Belair Direct had similarly good auto rates. There can be huge variations among insurers! I pay less now for 3 cars (only 2 on most of the time) than for 1 with my previous insurer.
I don't like the mandatory direct compensation element of the policies here. At least not for cars that are easily written off. If I understand it correctly, it is used to pay for the collision damage to my vehicle for which I am not at fault (or the % for which I am not at fault). It probably reduces court activity, but I have to pay a premium for that, not the guy who hit me! For the 9-5, that part is significantly higher than for the c900's because it is worth more on paper and probably more expensive to repair. I would rather not pay that premium and do the repair on my own terms since due to the age of the cars, a very minor incident I could fix in a junkyard trip would otherwise result in a write-off. A major incident (a real write-off where it is actually not worth fixing the car) would perhaps leave me looking to buy another used saab which (even ignoring that it should be the other guy's insurer paying for his % fault), I could do out of pocket pretty easily (in part with the money saved by not paying the darn premium on an annual basis), so I'm willing to take that risk... but such is life...
I imagine the direct compensation premium is even higher for newer vehicles - basically penalizes someone for driving a nice car... so the guy in the rusty Corolla who rear ends a 911 doesn't pay to fix the 911 - the 911 driver's insurer pays out of DC. The Corolla driver paid a lower DC premium all along. After the collision, the Corolla driver's rates will go up and the 911 driver rates will stay the same... but the 911 driver might still pay more for DC than the Corolla driver because the 911 is more costly to fix... pretty dumb imho... The 911 driver is penalized in perpetuity for driving a nice car even though they were a good driver and not at fault... That said, a 911 driver would most likely want to have comprehensive coverage anyway...
meh... at the end of the day, I just pay the bill and life goes on...
, Wed, 7 Nov 2012 14:10:32, Fri, 9 Nov 2012 09:09:59, Thu, 8 Nov 2012 06:57:30, Wed, 7 Nov 2012 23:48:20, Thu, 8 Nov 2012 08:15:40, Thu, 8 Nov 2012 09:22:02 <-- Viewing This Message
, Thu, 8 Nov 2012 16:33:50, Fri, 9 Nov 2012 08:02:46, Thu, 8 Nov 2012 09:45:36, Fri, 9 Nov 2012 08:15:16
, Wed, 7 Nov 2012 14:48:00
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