$lacker

iTrader: (9)

AB is probably lower in the FC Vert (relative to the Protege) because you're more likely to die rather than be badly injured and alive (requiring constant medical attention)
Death is cheaper for them

85RotaryRocket

iTrader: (1)

"Some difference. Not a huge one. Generally if you've destroyed your engine in a crash the vehicle is written off. The cost difference is in the value assigned to the extra value your car may have due to it's "top of the trim" status (assuming the turbo model is the top.

Horsepower is not a factor in insurance.

Yes the turbo car is faster, so yes you can theoretically do more damage. However insurance assumes you are obeying the laws of the road. Insurance covers your *NEGLIGENT* actions. Not your *INTENTIONAL* ones. You may be negligent by accidentally speeding (because we all know no one speeds on purpose!) and cause a bigger accident. But if you are intentionally speeding (very hard to prove it was intentional) you are breaking the law with intent and your policy will only cover the provincially mandated bare miniums ($200,000).

In practice I can't think of a single case off the top of my head where intentional speeding was proven and a claim denied.

Most cases (read: almost all) of drinking and driving carry no coverage in the event of a claim except for the provincially mandated minimums.

-Geoff "

I have , or had both N/A supra and a turbo (same years) , and they are night and day difference in costs to insure them. one for me was 260 a month with the turbo, and the other, the same year, was 135. now the price difference varied between different quotes / companies, but i never found a single company / broker that gave me something better than a 100 dollar difference. And i am pretty good with my drivers history. this was a cpl years ago. so naturally i took the turbo motor and placed it in my N/A (Yes i know the consequences of what happens if i have not declared this and i get in to an accident, let us not digress).

CloudPump

iTrader: (2)

1994 N/A Supra

DCPD 15
AB 32
COLL 15
COMP 24

1994 Turbo Supra

DCPD 33
AB 34
COLL 34
COMP 58

This tells me that you're more likely to have your Turbo Supra stolen or involved in an at fault loss than a N/A Supra. You're about equally as likely between the cars to be injured or injure someone else.

If a particular car is stolen a lot or involved in a lot of crashes, the rate groups go up. Seems the Turbo Supra is one of those.

-Geoff

CloudPump

iTrader: (2)

Techically you don't save much of anything on insurance by going through your parents. Yes, if the cars are registered under your father you will be eligible for a multi-vehicle discount and if your father bundles his home & auto insurance with the same company, you'll receive a multi-line discount as well. If you can keep your insurance through your dad until you're 25, great. Do it.

Being listed as an occasional operator on your parents' policy is just as good as having your own policy. Companies need evidence of prior insurance it doesn't matter under what capacity you were listed as a driver.

-Geoff

orion84gsl

iTrader: (5)

My 06 Mazdaspeed6 is only $16/month more than my FB. I thought it would be more.

One question for you Geoff. Why do insurance companies not recognize an A class license? I called for insurance when I first got the FB in 05 and told the broker I held an A class license and he didn't even know what it was.

CloudPump

iTrader: (2)

I'm not surprised that the broker/agent didn't know what an A class license is, mostly because it doesn't matter. Whether you have your A, B, C, D, E, F or G all that matters is that you're not part of the graduated licensing system anymore and that your license is in force. There are no additional discounts or savings for having a class of license that allows you to operate a different vehicle type than what you're being quoted on.

Now if you were contacting a commercial broker who specialized in big rigs, they'd be quite concerned if you didn't have your A.

-Geoff

orion84gsl

iTrader: (5)

Ok thanks for clearing that one up for me. I figured since I had to take extra schooling which did involve some defensive driving techniques it would apply. But it doesn't and I'm over 25 now so my rates are about as low as they are going to get.

Lucas FC

iTrader: (1)

I got a call from my insurance company today out of the blue. They just wanted to "review my policy and see if I was elegible for any other discounts" for my civic. I just got 4 snows a couple weeks ago and that knocked 20 bucks per month off! Thats the first nice thing insurance has done for me. Thought that while I was on the phone with them I would get a quote for my FC, but they dont insure vehicles 20+ years old(apparently thats pretty common they told me) and I am not 25+ so I cant get classic car insurance either. This may be a challenge...

Anyways for those of you getting snow tires for the first time or maybe your insurance company doesn't know you have them you should give them a call as it may save you a few bucks.

Luke

CloudPump

iTrader: (2)

What just happened to you was called an account review. Normally they try and schedule this sort of thing to happen just before your policy renews. If you're someone they want to keep on the books they review your policy before your next term to make sure they can keep you happy. Sometimes they don't have time to get to everyone before their renewal though.

To get "Classic" insurance through a provider such as Hagerty or Silverwheels (which are both actually owned by Aviva) you need to have a vehicle that they determine fits their "classic" standard as well as having had your G license for 10 years.

-Geoff

Nd4SpdSe

I've seen otherwise. Maybe it's an old myth, but I've known too many people that have had cars under their parents name because they were too expensive under their own because they're too young. Once they finally turn 25, they're paying high rates because they didn't have a policy under their name, so they're basically starting from scratch. I got my own car with my own policy (got a 10% household discount tho because I lived with my parents) at 21, and got a good clean record drop in rates at 23 and again at 25.

CloudPump

iTrader: (2)

This is never the case. The Insurance Act stipulates that there is no difference between being listed as an occasional or secondary operator on a policy as opposed to being the primary operator.

The reason your friends see a rate "increase" at 25 when moving to a policy of their own is that they are losing all their parent's discounts.

When you move from being a occasional under your parents to a policy of your own, you will lose Multi-vehicle discounts as well as potential multi-line discounts (if the parents bundled the home & auto insurance together) not to mention age and experience discounts that were applied to the parents who were the principal operators on the policy.

With some companies these discounts can add up to over 40% off your insurance premium.

Additionally, when an "underage" occasional operator (underage is defined as anyone under 25) becomes "of age" on an insurance policy they no longer generate premium unless they have tickets or accidents or the policy holder is with a "specialty" insurance (such as a provider that specializes in seniors over 50). I mention this as if your underage friends are paying for "their" car on the policy where they are an occasional operator they will see a huge savings at 25 as they are paying only for the parent who is the P.O. and there is no longer any premium generated by the (previously) 24 year old operator.

The driving record (and subsequent premiums generated) by the occasional operator are completely different as well. This is going to tie in with your mention of savings at 23 and 25

I'll assume Male here as I'm not goig to type out all the Female classes as well (men and women under 25 are rated quite differently)

Class 06 is an Occasional male driver, under 25 years of age, with a pricipal operator rated as a Class 01, 02, 03, or 07

Class 06 is the only rating class for an occasionally operating male from ages 16-24.

Now on to the reason you save at 23/25.

Class 08 is a Pricipal operator, MARRIED male, 16 to 20 years of age, residing with spouse. (FYI: Cheaper to be a married man at 16 living with your wife than unmarried)

Class 09 is a Pricipal operator, MARRIED male, 21 to 24 years of age, residing with spouse.

Class 10 is principal operator, SINGLE male, 16 to 18 years of age.
(most expensive single male group)

Class 11 is principal operator, SINGLE male, 19 or 20 years of age.
(BOOM, you just saw a savings)

Class 12 is principal operator, SINGLE male, 21 or 22 years of age.
(BOOM more savings)

Class 13 is principal operator, SINGLE male, 23 or 24 years of age.
(BOOM again!)

____________________________________

There are all different classes for underage females as well, I'm not typing all that out. So as you can see there are "savings" at 19, 21, 23 and 25 (when you move to regular classes) as you move up the class charts. Any tickets (ALL moving violations count, points mean nothing to insurance) and any accidents will screw up your potential savings by moving up a class.

**I hope this post flowed well, I typed all this out over many gaps in trains of thought as I'm working as I do this**

-Geoff

rx7racerca

iTrader: (1)

Good post, cloudpump, thanks for your time for that very clear explanation.

CloudPump

iTrader: (2)

Happy to help, but keep in mind that any insurance advice or perspective I provide is only applicable in Ontario. I am not licensed (or educated) on insurance matters in Alberta.

-Geoff

rx7racerca

iTrader: (1)

Oh, I know, but I figured you deserved a tip of the hat for a thorough and informative answer.

Aaron Cake

iTrader: (1)

CloudPump, can you elaborate on why a married person receives cheaper rates than someone who is not married? Seems more than a little unfair to those who will never be married (ie. me). It seems that the opposite should be true: married individuals should have higher premiums due to the potential for a much higher payout as that person would also need to support a spouse and likely offspring.

Kind of another kick in the teeth for those of us who decide to remain single and in control of our own lives, not subjected to the legal system biased towards the wife, not willing to compromise our interests and hobbies for the sake of marriage, etc.

CloudPump

iTrader: (2)

I guess I should clarify.

In the classes mentioned in my previous post, the cheaper rates for married males applies only to men married between the ages of 16-24.

Studies have shown that underage married men are less likely to do something "stupid" with their car resulting in a loss than their unmarried equal.

At age 25, all rates for men, women and married individuals are the same for similar situations. IE: Class 01 is a non-commuter, there is no seperate class for a non-commuting male/female/married.


Also to put in perspective, the insurance company would rather you die in an accident than survive with injuries. The auto insurance policy has a death payout of $25,000. Medical bills for a "vegetable" can rise into the millions over a long time. The auto policy has limited benefits for a surviving spouse in a fatal accident. Life insurance is your best option here.

-Geoff