Quote:
Originally Posted by dsahota
Have you tried shopping around for insurance / checking any deals you might through a professional association etc? I know if you're a IEEE student member you can get discounts. $3500 seems like a lot, especially since it sounds like you've got what seems to be an older car and a pretty clear record  . |
I am a Sheridan College alumni and the rate I get through TD Meloche Monnex is actually MORE than the ~3500 I'm quoted elsewhere. If you live in the Toronto city limits and you are a male driver under 25, you will be raped extra for insurance, end of story. Just by putting in different postal codes on my quote, there has been up to a 30-40% difference for areas outside of the city. My buddy with a with a similar valued car (read: minimal) and driving record is paying about 3300 thanks to his father who is a TTC employee. It won't get any lower than that until I'm 25. Two and a half years to go, thankfully.
Also, the value of the car itself is irrelevant for me - the expensive rate is because of the aforementioned male-under-25 issue. The main differences between cars is from the accident and liability risks for drivers of THAT particular car. I have only basic liability coverage on my car - if nature decides to blow it up, or it gets stolen, or burns down, I'm shit out of luck if I want to fix my own car.
The rate would be even higher if one had a higher valued car with comprehensive or full collision coverage.
