Desjardin Possibly Dropping RHD vehicles?

[MKIV]

Interesting video but I probably already somewhat knew that.

[Kunzz]

well i assumed insurance companies in ontario just enjoyed being jackasses and charging people high rates to obviously make more money, i am quite aware of the fraud that happens but i never realized it accounted for 1.3 billion, that really shows that ontario insurance companies deal with a lot more then other provinces, and regular drivers like us get screwed while the frauders keep getting their fat cheques in the mail

[Daryl @ RightDrive]

Check out the front page of the Toronto Star today too, some more info.

This is from CBC today:

Ontario drivers pay significantly more for auto insurance than other Canadians, in part because the average cost of accident injury claims is five times higher than in other provinces, auditor general Jim McCarter reported Monday.

Auto insurance fraud cost the industry about $1.3 billion a year in Ontario, but the province "does not have significant measures in place to combat fraud," McCarter warned in his annual report.

The number of people killed or injured in auto accidents in Ontario fell 25 per cent in a decade, but the government still guarantees insurers a "reasonable rate of return" of 12 per cent. That figure was last adjusted in 1996, when the long-term bond rate it was based on was 10 per cent.

"The long-term bond rate now is about two or three per cent and they're still being allowed to earn 12 per cent," McCarter told reporters. "We think that rate should be reviewed, but on the other hand, because of the very high claim costs in Ontario, they're paying out a lot more claims."

Finance Minister Dwight Duncan said the Ontario government would look at McCarter's recommendation to lower the 12 per cent guaranteed rate of return for insurers, but made no promises to cut the rate.

From 2005 to 2010, the total cost of injury claims rose 150 per cent, even though the number of injury claims in the same period increased only 30 per cent. The number of personal injury claims in 2009 was 20 per cent higher than the number of people who reported having been injured in an automobile accident that year.

"The commission that oversees the auto insurance sector does not know whether insurers are handling claims judiciously and paying out the proper amounts, and it needs better information on the impact of fraud on claim costs," McCarter wrote.

New Democrats said the province must do a better job over overseeing auto insurance providers.

"We've been saying for some time that insurance rates are over the top, unaffordable," said NDP Leader Andrea Horwath. "This report simply reinforces the fact that the auto insurance industry needs to be overhauled."

Go Horwath!

[Daryl @ RightDrive]

Another article from the CBC:

Those record profits of 2003 were about to be eclipsed. Big-time. Feb. 18, 2005 – the Insurance Bureau of Canada reports that the industry is healthy again. Healthy to the tune of record profits of $4.2 billion.

"These financial results confirm that the property and casualty insurance industry has returned to financial health following a period of the weakest earnings in its history," insurance bureau chief executive Stan Griffin told a news conference.

Griffin noted that the numbers have to be put in context. Between 2000 and 2004, the industry made six cents profit for every dollar of premiums and investment income collected.

"The insurance industry's return on equity for 2004 is strong but insurance is a cyclical business – years of profit are often preceded by years of low returns," Griffin said. "Over the last five-year period, the ROE was 8.6 per cent. Many other sectors of the economy have averaged closer to 20 per cent."

Griffin added that big profits mean that drivers will save about $1.4 billion in premiums in 2005.

The Consumers Association of Canada had a different take on the industry's new-found health.

"Governments have clearly failed to protect consumers and businesses from price gouging by the insurance industry," association president Bruce Cran said. "The insurance industry is now in full damage control in an effort to justify their record-setting profits."

Cran said provincial governments in Alberta, Ontario, New Brunswick and Nova Scotia "aided and abetted these obscene profits," and demanded that they roll back rates and restore "reasonable" benefits.

It's clear that consumers have taken some steps in their attempt to hold down their car insurance costs. Many have increased their deductible, making them responsible for the cost of repairing minor dents and scratches.

In January 2005, CBC-TV's Marketplace reported that more Canadians are deciding to pay repair costs out of their own pockets, rather than go through their insurance company.

"We've seen claims as much as $5,000 to $10,000 [that] people are paying out of their pockets. They know that [their] insurance will go up," a Toronto auto body shop owner said.

"When we do all the operations that are required to make it a perfect job, [so we can] put our lifetime warranty on it, [the bill] could be as much as $1,000. Just for [a] little ding."

[Kunzz]

So today I decided to take a visit to my local State Farm agent. It didn't go so well because apparently the agent says she only takes ddrivers with 6 years of G license. If anybody has a local state farm agent, could they please go in and speak with an agent one on one about their RHD situation? I assume this is a much easier solution then dealing with these confused employees on the phone. I think a much better answer could be given face-to-face with an experienced agent and it may be easier to tell if somebody is lying to save their ass!

[M-type]

as someone who was hit by a taxi in toronto march 20th of 11
i was ripped off by insurance for the cash settlement of my car (1994 volvo 850 turbo with newer engine and upgraded mechanical)
worth $3000-4000 min. paid $1695.00 after fighting
denied any benifits, and am only receiving the bare mininum ontario minor injury guideline to a max of $3500.00 of physio for me and my wife and $200.00 worth of assisited devices

so far the towing company made $2200.00 for towing and storeage
lawyers getting paid somehow
adjuster making wages
taxi driver who hit us and was charged with careless driving is probably receiving comp
and the claim reserve is up to $11,300.00 plus already

so i was hit and everyone else is getting paid

how does this keep going on in ontario we need better insurance for cheaper

[JessF]

I literally just got off the phone with a rep and she said that all vehicles policies are reviewed each year and the fact that I had an appraisal and they new it was RHD means I should have no issues getting renewed in 2013.

it may be different if you're a high risk driver and have many driving offences, but as of now there is no policy in place to drop all RHD vehicles in 2013, it's just simply not the case.

do your own DD as well. The RHD community is tight and we'll benefit from keeping communication open.

[Billy_Jack]

gotta love ama:

"its a right hand drive" "oh cool, make sure you get it inspected"
"it's lifted" "thats nice, make sure to get it inspected"

[two_step_r32]

i called desjardines back in october 2011. they gave me a quote for an r33 gtst. all they needed was appraisal and motor vehicle registation, and pictures of the car and vin numbers. so i called them two weeks ago. (FEB 2012) and they said that as of november 2011 they wont insure rhd vehicles.

this sucks. i need to find insurance.
because im 19 and its my first car, ive heard that maybe facility will insure me?


help!!!

[MKIV]

i called desjardines back in october 2011. they gave me a quote for an r33 gtst. all they needed was appraisal and motor vehicle registation, and pictures of the car and vin numbers. so i called them two weeks ago. (FEB 2012) and they said that as of november 2011 they wont insure rhd vehicles.

this sucks. i need to find insurance.
because im 19 and its my first car, ive heard that maybe facility will insure me?


help!!!

Sorry if what I'm about to say will sound rude, but that's your problem, and if you searched, it seems to be everyone elses problem too.

I would say you should have done more research before buying the car but I guess you did by calling them...

Call a broker and go with facility.

[zecs]

I've also done some researched live the kid above and yall know wat desjardin did. How much will a broker help in finding insurance, i mean they dont get paid until they find something. And wat does facility usually charge?

[Daryl @ RightDrive]

You don't pay a broker a fee, I believe they make a commission off your insurance.
As for Facility, it's like any insurance company, you could pay $2000 a year, or you could pay $10000 a year. It all depends on your age, experience and driving record. If you are under 25 expect to pay a lot. These are high powered sports cars, just like a Corvette. Go online and out what your rate would be for a 1992 Corvette, that's probably a similar amount you would pay for a Skyline GT-R.

And by the way, I believe it's spelled "what".

[cdnleaf]

And by the way, I believe it's spelled "what".

Not entirely true; though saying yall (y'all) without the apostrophe is on the border.

[Dragon Humper]

BC might stand for "Bring Cash" but at least our insurance is affordable and will insure anything. I pay only $980 for the Skyline and $1230 for my 2011 Silverado. I would pay the same if I was single and 21 years old with 5 years accident free.


Jon.

[hcr32nic]

trust me they did drop rhd they will insure there current customers but they will not take on any new ones i have 5 cars insured with them i had my car insured all last summer i took it off for the winter and next thing i know i have no insurance anymore