Car Insurance.

[mohammad]

For anyone looking at this thread feeling like they pay too much for insurance. i pay $383 per month for minimum coverage.(Canadian dollars). Im 20 years old/male, this is my first year as a primary driver.

[Mark]

For anyone looking at this thread feeling like they pay too much for insurance. i pay $383 per month for minimum coverage.(Canadian dollars). Im 20 years old/male, this is my first year as a primary driver.

Ouch! That's a lot of money (approximately $306/month USD today).

[inuvik]

For anyone looking at this thread feeling like they pay too much for insurance. i pay $383 per month for minimum coverage.(Canadian dollars). Im 20 years old/male, this is my first year as a primary driver.

That's painful.

[7milesout]

I think the price I pay monthly or every 6 months is terrible.

[Mark]

I think the price I pay monthly or every 6 months is terrible.

Aren't you talking about multiple vehicles who are also driven by younger family members, too?

[Mark]

For anyone looking at this thread feeling like they pay too much for insurance. i pay $383 per month for minimum coverage.(Canadian dollars). Im 20 years old/male, this is my first year as a primary driver.

US dollars - I have what I consider full coverage on my two vehicles, but I do have a $250 deductible for comprehensive & a $500 deductible for collision.

So I am paying for liability, medical payments, uninsured motorist, underinsured motorist, physical damage, & (comprehensive/collision). Along with most everything, my vehicle insurance went up from last year.

I paid $994 in 2021.
2011 Forester = $410/year = $34.17/month
2017 Mirage = $584/year = $48.67/month

I paid $1,165 this year (2022).
2011 Forester = $461/year = $38.42/month
2017 Mirage =$704/year = $58.67/month

Comprehensive & Collision are much higher for the Mirage than the Forester, & thus the price difference.

If I went by the numbers on my statement, carrying liability insurance alone(dropping comprehensive/colliison) would cost about -
$116/year for the Forester
$112/year for the Mirage
$228/year for both

Driving old cars with just liability insurance is the way to go. When I sold my 1990 Ford Festiva in 2004, I was paying $99/year for liability insurance. That's $8.25/month for car insurance. That's cheap transportation in my mind.

I look forward to the days when my Mirage is old enough to feel comfortable dropping comprehensive & collision. Given the cost of used & new vehicles these days, that may not happen any time soon.

I was rear ended in 2013, & I only had liability insurance. The person who hit me with their Chevy Tahoe only had liability. Both my 2000 Honda CR-V and his old Tahoe were totaled. I received a check for $5,700 from his insurance company (American Family), and he got nothing (because he was at fault). There's the risk with liability.

[mohammad]

If I went by the numbers on my statement, carrying liability insurance alone(dropping comprehensive/colliison) would cost about -
$116/year for the Forester
$112/year for the Mirage
$228/year for both

Gheez Mark no need to flex on my broke ass.

What is your liability coverage cap. i get "1 million dollars in coverage" thats the standard here its uncommon to find a company that will sell you less coverage. Although the legal minimum is 200k in liability. I am also FORCED to pay for uninsured/unidentified coverage.That would cover me during hit and run and if the at fault party lacks insurance. As Ontario,Canada uses a DCPD system for insurance. No matter who is at fault you only ever deal with your own insurance. Your own insurance is the one that pays you, regardless if the other person has insurance or is able to pay.

Im sure any person that thinks about this system for more than 30 seconds will realize its major flaw. The person that is authorizing your payout(your insurance) is completely separate from the person thats going to be paying you(their insurance) (assuming you aren't at fault). Thats why padding your not at fault insurance claim is common here as there is no reason for your insurance to investigate before paying you and being reimbursed from at fault party.

To combat this ingenious fraud that literally anyone could think of. For a non-serious accident(airbags didnt deploy you dont need surgery, didnt spend multiple days in hospital) The government caps your medical reimbursement. (i think its $3500) for massages and other forms of rehabilitation.


I understand in the USA depending on your state its like the wild west, insurance minimum coverages are very low and some states will accept a cash bond in lieu of insurance coverage.

Reference to the uninsured/underinsured/unidentified coverage for those interested: https://lernerspersonalinjury.ca/acc...nd-run-claims/

[7milesout]

Aren't you talking about multiple vehicles who are also driven by younger family members, too?

Absolutely.

[Mark]

Gheez Mark no need to flex on my broke ass.

What is your liability coverage cap. i get "1 million dollars in coverage" thats the standard here its uncommon to find a company that will sell you less coverage. Although the legal minimum is 200k in liability. I am also FORCED to pay for uninsured/unidentified coverage.That would cover me during hit and run and if the at fault party lacks insurance. As Ontario,Canada uses a DCPD system for insurance. No matter who is at fault you only ever deal with your own insurance. Your own insurance is the one that pays you, regardless if the other person has insurance or is able to pay.

Im sure any person that thinks about this system for more than 30 seconds will realize its major flaw. The person that is authorizing your payout(your insurance) is completely separate from the person thats going to be paying you(their insurance) (assuming you aren't at fault). Thats why padding your not at fault insurance claim is common here as there is no reason for your insurance to investigate before paying you and being reimbursed from at fault party.

To combat this ingenious fraud that literally anyone could think of. For a non-serious accident(airbags didnt deploy you dont need surgery, didnt spend multiple days in hospital) The government caps your medical reimbursement. (i think its $3500) for massages and other forms of rehabilitation.


I understand in the USA depending on your state its like the wild west, insurance minimum coverages are very low and some states will accept a cash bond in lieu of insurance coverage.

Reference to the uninsured/underinsured/unidentified coverage for those interested: https://lernerspersonalinjury.ca/acc...nd-run-claims/

In all fairness, the numbers I quoted off my policy for liability may change if I changed my overall auto policy. I don't remember my exact limits for liability, but I added an umbrella policy a few years ago. So technically, I should include that. I paid $281/year for my $1,000,000 umbrella policy.

My $1,000,000 umbrella policy could also be used for potential court costs. Plus, I own/live on 72 acres of land. Should someone flip an ATV or something & hurt themselves, an umbrella policy will supplement my homeowner's insurance. I saw some wisdom in having an umbrella policy to supplement my auto & home insurance. In all honesty, I should probably have a $5,000,000 umbrella policy.

I didn't mean to throw salt in the wound.

In all honesty, what I save in gas by driving my Mirage versus my Forester is probably lost with extra insurance costs. I like the fact that the 67,000+ miles I have put on my Mirage are not on my Forester, because I don't want to replace an AWD vehicle any time soon.

I mowed two lawns (an elderly lady from my church who lost her husband last year & another friend's lawn) in town today. I tugged my 29 year old rider, 28 year old gas trimmer, & 27 year old push mower on my 28 year old rusty trailer. My 11-year old Forester seems new by comparison. My 2017 Mirage still seems very new to me, but I've had it for almost 5-years now. If you take good care of stuff, I find most things will serve you quite well!

I see myself condensing my two vehicles to one vehicle some day. For now, I appreciate the 2,500 pound towing capacity of my Forester & great economy of my Mirage. Insurance costs are more, but I am content with that for now. Not having a car payment for 10-15 years would be nice, and that's sort of my goal at this point in my life.

A new tractor would be more exciting than a new car for me!

[Fummins]

I came across your post about car insurance costs in the US and I totally get where you're coming from. Insurance can be a real pain in the arse, especially when you're paying a fortune for a car that's not worth it. I can't speak for everyone, but in my experience, car insurance in the US can be pretty steep, especially if you're a young driver or live in a high-risk area. But hey, at least you're not alone in feeling ripped off!
By the way, have you ever looked into life insurance policies? I recently got a 5 million dollar life insurance policy for myself and it was surprisingly affordable. It's always good to have a plan in place, just in case.

Please tell me more....
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