-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
No. The policy is adequate and the price is reasonable, so it's not a high priority to shop around at the moment.
mknox
Well-Known Member
I got preliminary quotes from RBC (my current company) and Belair (RBC was a bit better price) but there was no mention of this high deductible. In fact, I spec'd it out with my current deductible limits of $300.
I'm trying to understand what the car's value has to do with deductible limits. A broken windshield (for instance) shouldn't be any different than any other similar (sub $100k) car.
Zapped
Model S - PURE EV
I tried to explain the extra value is in the batteries . $60k car + $45k of batteries but the guy at TD Meloche didn't bite. He kept saying the Model S is in the same category as a Lamborghini and other exotic cars. With the package home/auto I didn't think another insurer would be interested in the just the Model S by itself.
znino
Member
For those of you still shopping for insurance I can tell you that I sent a friend of mine who is also getting a signature S next week to Belair. He has his home and other cars with another insurance but Belair had no issue quoting him for the model S only with the same $500 deductible as me. If your insurance is quoting you high deductibles or no replacement value or tracking device requirements or anything over $1000 give Belair a call (ps. I have zero shares or stake in Belair....just trying to help)
mknox
Well-Known Member
Ditto RBC. I had no issues with crazy high deductibles. I asked them to quote on exactly the same policy I currently have ($300 deductible) and there didn't seem to be a problem. Belair also didn't seem to have a problem, but their quote came back a bit higher than RBC.
Vger
Active Member
Here was our story with ICBC:
They have a very nice lady sitting right in the service centre handing out plates, insurance, and registration.
We went for a very full policy for at least the first year. Our insurance payment for one year was $2,004 for $5M liability, $300 comprehensive ($200 windshield), $500 collision, full replacement value.
This was with my wife as principal drive a discount level of 9. We are relatively new (4 years) in province, so that does not help us.
Not cheap, but actually less than our Roadster, thankfully! We may drop the replacement coverage next year, or increase the deductibles once we are more comfortable with the car's risk level.
They have a very nice lady sitting right in the service centre handing out plates, insurance, and registration.
We went for a very full policy for at least the first year. Our insurance payment for one year was $2,004 for $5M liability, $300 comprehensive ($200 windshield), $500 collision, full replacement value.
This was with my wife as principal drive a discount level of 9. We are relatively new (4 years) in province, so that does not help us.
Not cheap, but actually less than our Roadster, thankfully! We may drop the replacement coverage next year, or increase the deductibles once we are more comfortable with the car's risk level.
Shorty
Member
Vger,
It may be worthwhile looking at 3rd party coverage for collision and comprehensive. I haven't checked in a few years but ICBC had a default deductible in hit and run instances which overrides your policy levels. I got caught once with a $500 deductible even though I had paid for $100 when I hit a deer and the deer "ran away"!
It may be worthwhile looking at 3rd party coverage for collision and comprehensive. I haven't checked in a few years but ICBC had a default deductible in hit and run instances which overrides your policy levels. I got caught once with a $500 deductible even though I had paid for $100 when I hit a deer and the deer "ran away"!
That is ludicrous! Talk about over-interpreting the rules.
Also having trouble with the concept that you get dinged when someone else breaks the law...
mknox
Well-Known Member
Unfortunately, Ontario's "no fault" rules encourage just that. Under "no fault" your own insurance company pays the costs regardless of blame. In the past, your insurance company would fight on your behalf to try and get the party at fault to pay. Under today's system, there is no incentive for the insurance company to do that, and, in fact, it's in the company's best interest to find you at fault. Since they're going to pay out either way, it's better if they can blame you and raise your rates!
Even if you have an accident that is 100% the other guy's fault, your insurance company considers it a "claim". They may not raise your rates, but just try shopping around for a competitive quote... the other guys will ding you for any claims, regardless of fault. I got caught in that scenario and was "trapped" by my current carrier for something like 7 years until the old "claim" came off the books.
inottawa
Member
Just got off the phone with RBC. $862/yr (including $50/yr at fault accident insurance) with $500 deductible and 1 speeding ticket. My wife's Civic is $974!
I'm afraid that's still higher than mine. My final rate came in a little lower at $718 for the Model S (and $801 for the Roadster), although my deductible is much larger.
Toronto is significantly more expensive - much higher risk category than anywhere else in Ontario.
Also I have a discount group plan rate through Engineers Canada. Jaff tells me it's one of the best plans going.
Also I have a discount group plan rate through Engineers Canada. Jaff tells me it's one of the best plans going.
I got a quote for $2900 with ICBC from another insurance agent. Can you tell me if yours is for pleasure use or 15km drive from and to work.
inottawa
Member
A couple other things I thought I'd mention that were part of the insurance quote.
1. I assume a multi item discount with the house
2. The only questions he asked me regarding the car trim was if it was signature or not (I said not). There was no question as to whether it was perf or non.
3. moving to $1000 deductible removes about $80/yr on the premium.
Yeah, whoever put together the categories didn't really understand what "Signature" meant (i.e. nothing that the price difference doesn't already tell you.) I think they just felt they had to have two categories and picked something!
Asked for 2 quotes from TD Meloche Monex and Bélair
Got 2 very different prices and responses:
$1M civil
no multi discount (however I am part of the Engineering association)
no deductible (I am used to this)
Production Model S (not Signature as Bélair asked)
TD came back with 791 incl taxes per year (I'm insured with them alreadyfor my 2 cars) - I will have to call back in 2 months because their rates might change in the mean time
Bélair with 2417 incl tax but refused to take the contract because my wife and I got 1 accident each in the last 6 years...
Guess who I am going to pick
Got 2 very different prices and responses:
$1M civil
no multi discount (however I am part of the Engineering association)
no deductible (I am used to this)
Production Model S (not Signature as Bélair asked)
TD came back with 791 incl taxes per year (I'm insured with them alreadyfor my 2 cars) - I will have to call back in 2 months because their rates might change in the mean time
Bélair with 2417 incl tax but refused to take the contract because my wife and I got 1 accident each in the last 6 years...
Guess who I am going to pick
Similar threads
