15% for the good guys
29-Aug-2003, 07:02 AM
#1
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Join Date: Jun 2002
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15% for the good guys
A 15% reduction to Ontario car insurance rates announcement expected today.
Well done, Legislature!
A rep for the insurance companies was on City in rebuttal:' blah, blah, blah!'....
Rebates immediately or when your premium is up for renewal.
We win!
Well done, Legislature!
A rep for the insurance companies was on City in rebuttal:' blah, blah, blah!'....
Rebates immediately or when your premium is up for renewal.
We win!
29-Aug-2003, 10:59 AM
#6
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Originally posted by gatherer
no we don't the insurance companies will just cancel the top 15% riskiest drivers and no one will insure them they will drive uninsured and the spiral will continue
no we don't the insurance companies will just cancel the top 15% riskiest drivers and no one will insure them they will drive uninsured and the spiral will continue
30-Aug-2003, 08:07 AM
#16
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Sat, August 30, 2003
Drivers lose by default
Tardy replies kill car insurance
By MARYANNA LEWYCKYJ, TORONTO SUN
Taking a vacation could jeopardize your auto insurance coverage, even if you don't drive when you're away. A small number of auto insurers are now sending their customers forms seeking updated information and sometimes playing hardball with people who don't promptly reply.
The practice is making some motorists feel like hit-and-run victims.
Pat McChesney, of Scarborough, was stunned to get a notice of cancellation for his Allstate auto insurance policy when he returned home from a two-month summer break.
When McChesney called Allstate, he was told his policy had been cancelled because he failed to return a form sent to his home while he was away.
It's a scenario all too familiar to Bob Carter, CEO of the Insurance Brokers Association of Ontario, which has fielded complaints from angry motorists on the issue.
ABUSE ALLEGED
"Insurers have the right to accurate information, but I think they're abusing that privilege by demanding fast returns or they'll refuse to renew policies," said Carter.
He's only aware of three insurers engaging in the practice.
Lee Romanov, president of the Consumers Guide to Insurance, couldn't meet a 10-day deadline to respond to a notice from her insurer because of a one-week holiday. She almost overlooked the innocent-looking letter.
"It wasn't sent by registered mail," said Romanov. "I knew I had insurance coverage and it looked like it might have been a piece of junk mail."
Although Romanov took 20 days to respond to the notice, she hasn't received a cancellation notice from her insurer.
"The notice seemed to suggest I could jeopardize my coverage if I didn't respond in time," said Romanov, who operates an auto insurance rate comparison service. "In this market, if you get cancelled, it's really difficult to get insurance."
UPHILL BATTLE
Carter agrees that cancelled motorists face an uphill battle: "As soon as you say you've been cancelled, you're forced into the high-risk market. Coverage will be available, but you won't like the price."
He advises anyone who's been cancelled to first complain to their own insurer's ombudsman. If that doesn't work, they can contact Ontario's insurance ombudsman.
While insurers have the right to cancel a policy with 15 days' notice, they must have a valid reason for doing so.
When contacted by The Sun, an Allstate spokesman said no one was available yesterday to comment on the firm's non-renewal practices.
Carter recommends that any motorist who gets a questionnaire answer truthfully, even if it may boost their rates. That means motorists should report any underage drivers in their household, own up to any tickets or offences, and not try to pass off a car driven to work as a "pleasure" vehicle.
Drivers who misrepresent vehicle use could find their insurer refusing to pay an accident claim or charging a retroactive premium increase to cover their true driving profile.
Drivers lose by default
Tardy replies kill car insurance
By MARYANNA LEWYCKYJ, TORONTO SUN
Taking a vacation could jeopardize your auto insurance coverage, even if you don't drive when you're away. A small number of auto insurers are now sending their customers forms seeking updated information and sometimes playing hardball with people who don't promptly reply.
The practice is making some motorists feel like hit-and-run victims.
Pat McChesney, of Scarborough, was stunned to get a notice of cancellation for his Allstate auto insurance policy when he returned home from a two-month summer break.
When McChesney called Allstate, he was told his policy had been cancelled because he failed to return a form sent to his home while he was away.
It's a scenario all too familiar to Bob Carter, CEO of the Insurance Brokers Association of Ontario, which has fielded complaints from angry motorists on the issue.
ABUSE ALLEGED
"Insurers have the right to accurate information, but I think they're abusing that privilege by demanding fast returns or they'll refuse to renew policies," said Carter.
He's only aware of three insurers engaging in the practice.
Lee Romanov, president of the Consumers Guide to Insurance, couldn't meet a 10-day deadline to respond to a notice from her insurer because of a one-week holiday. She almost overlooked the innocent-looking letter.
"It wasn't sent by registered mail," said Romanov. "I knew I had insurance coverage and it looked like it might have been a piece of junk mail."
Although Romanov took 20 days to respond to the notice, she hasn't received a cancellation notice from her insurer.
"The notice seemed to suggest I could jeopardize my coverage if I didn't respond in time," said Romanov, who operates an auto insurance rate comparison service. "In this market, if you get cancelled, it's really difficult to get insurance."
UPHILL BATTLE
Carter agrees that cancelled motorists face an uphill battle: "As soon as you say you've been cancelled, you're forced into the high-risk market. Coverage will be available, but you won't like the price."
He advises anyone who's been cancelled to first complain to their own insurer's ombudsman. If that doesn't work, they can contact Ontario's insurance ombudsman.
While insurers have the right to cancel a policy with 15 days' notice, they must have a valid reason for doing so.
When contacted by The Sun, an Allstate spokesman said no one was available yesterday to comment on the firm's non-renewal practices.
Carter recommends that any motorist who gets a questionnaire answer truthfully, even if it may boost their rates. That means motorists should report any underage drivers in their household, own up to any tickets or offences, and not try to pass off a car driven to work as a "pleasure" vehicle.
Drivers who misrepresent vehicle use could find their insurer refusing to pay an accident claim or charging a retroactive premium increase to cover their true driving profile.
30-Aug-2003, 08:25 AM
#17
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Join Date: Mar 2003
Posts: 389
I'm glad that they are asking companies to pay, but I'm a lot more impressed that they are actually addressing the issues of fraud and the outright overbilling of physiotherapist and other therapy's .... their needs to be regualtion in these area's before any money can be returned ...
30-Aug-2003, 08:28 AM
#18
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Join Date: Jun 2002
Location: Streetsville
Posts: 2,290
Just another example of how a greedy company attitude, untethered, treats people like cattle rather than clients.
It's the nature of the beast that cars will get into accidents (more so in this Province!). Knowing that, and with the huge premiums everybody pays (I think 300/month is the max anybody should pay for a mainstream car), people should be treated with respect.
For a $3600/annual investment with a very good chance of a return, most businesses would be fawning over their clients. I think that is what pisses me off the most about this situation. Banks and oil companies are the same. Yep, priviledged industries. If you are such a corporation, you have a moral obligation to treat people with decency and respect...
p.s. If the companies get the paralegals, adjusters, tow truck drivers and body shops in order, they may not cry poverty so often. Twerps!
It's the nature of the beast that cars will get into accidents (more so in this Province!). Knowing that, and with the huge premiums everybody pays (I think 300/month is the max anybody should pay for a mainstream car), people should be treated with respect.
For a $3600/annual investment with a very good chance of a return, most businesses would be fawning over their clients. I think that is what pisses me off the most about this situation. Banks and oil companies are the same. Yep, priviledged industries. If you are such a corporation, you have a moral obligation to treat people with decency and respect...
p.s. If the companies get the paralegals, adjusters, tow truck drivers and body shops in order, they may not cry poverty so often. Twerps!
30-Aug-2003, 08:35 AM
#19
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BTW, Marty, did you see the IBC's press conference? The one where they were huffing and puffing over next year's increases, no matter what the government said.
They should:
a) Get new spokespeople (people who are articulate)
b) Take the spokespeople to Harry Rosen and Talbots (they looked shabby)
Serious points...
They should:
a) Get new spokespeople (people who are articulate)
b) Take the spokespeople to Harry Rosen and Talbots (they looked shabby)
Serious points...
30-Aug-2003, 09:28 AM
#20
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Join Date: Apr 2002
Posts: 12,906
15% is really nothing when you think about it.... my insurance over the last 2 or 3 years has gone up about 150% for nothing really....
the only way we will truly win is either when they get rid of the $5000 ticket for no insurance.... or the insurance companies dont have control over there business.... cause they are doing one **** *** job of it
i guess this is a start by the government, but they wont get my vote for it.... they can make a real difference then i will congradulate them....
the only way we will truly win is either when they get rid of the $5000 ticket for no insurance.... or the insurance companies dont have control over there business.... cause they are doing one **** *** job of it
i guess this is a start by the government, but they wont get my vote for it.... they can make a real difference then i will congradulate them....
