Auto Insurance for Model 3 in Canada

[phtp]

That's awful.

Here is the state of insurance in Ontario: Report: Ont. drivers might have overpaid $5B on insurance over five years

And an exerpt from that article...

Report author and economics professor Fred Lazar, of York University’s Schulich School of Business, suggests insurers might have raked in approximately $5 billion in pre-tax income from 2011-2016, including an estimated $1.5 billion in 2016. Those 2016 profits represent an estimated 60 per cent increase over those from 2011, Lazar says.

Ont drivers are overpaying and it's still cheaper than what we pay in BC. On top of that ICBC has a 1.3B deficit...

 

[HugoBoss]

When I shopped insurance I must of called 5 or 6 companies. RBC gave us best quote. Don't remember exact numbers. It's through aviva

 

[realtycoon]

Anyone have any experience with Sonnet Insurance? My TD Meloche Monnex renewal came in really high and Sonnet seems to have some very competitive rates.

Thanks

 

[Clement]

Got quoted by La capitale (actually insured with them for my STI )

I’m on the North Shore of Montréal

850/yr.

Not bad !

 

[Falkirk]

I just got my renewal from TD MM. My rate is going up $5 a month which I consider pretty good since the Model 3 was totally new last year and I was worried they didn't price it right and was looking at a correction once they had more data. I am still hoping it drops once the safety proves itself true.

 

[Tony_YYZ]

I just got my renewal from TD MM. My rate is going up $5 a month which I consider pretty good since the Model 3 was totally new last year and I was worried they didn't price it right and was looking at a correction once they had more data. I am still hoping it drops once the safety proves itself true.

Mine went up $36/yr with TDMM at renewal and that was due to the new car replacement feature.

 

[Scifi_tv_fan]

I pay just under $87 a month for my new model 3 which I just picked up on Thursday, I'm with The co-operators.

 

[reza_kr]

I'm being quoted $7,800 through my broker. Had a minor accident 2 years ago which cost $5,000 to repair. How insane is that?

LowestRates.ca quotes starting at $4,500 with that accident record.

Any suggestions?

 

[rypalmer]

More claims = higher premiums. Be. Careful.

 

[RedMistress]

I pay just under $87 a month for my new model 3 which I just picked up on Thursday, I'm with The co-operators.

I’m with the Cooperators but my premium is much higher. What are your coverages?

 

[juls_esp]

Guys i am an insurance broker and my insurance since getting the model 3 did increase
its just more expensive to insure tesla... went up about 15 dollars more per month
there is a couple of providers that offer discounts for the safety factor of the car.
my advice is to shop around.

 

[WinterIsHere]

Renewing this thread. Does anyone have experience with Economical Insurance? Seems like I can choose any length of limited waiver with Economical, vs TD's at 3 years. Got the Economical quote through a broker whom I don't trust as much as getting through TD directly.

Is it frowned upon to switch insurance providers often especially if you're new to Canada? Thanks very much!

 

[Vawlkus]

Renewing this thread. Does anyone have experience with Economical Insurance? Seems like I can choose any length of limited waiver with Economical, vs TD's at 3 years. Got the Economical quote through a broker whom I don't trust as much as getting through TD directly.

Is it frowned upon to switch insurance providers often especially if you're new to Canada? Thanks very much!

It is absolutely NOT frowned upon to switch insurance providers. I’ve had to switch mine 5 times in 4 years because they wouldn’t play ball with me.