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Thread: unfair practise for pricing

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  1. #1
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    unfair practise for pricing

    hopefulling in right section to ask this .....here is my question i havent had insurance in a long time since i have a red flag against it for unpaid tickets from long long time ago so i have had my vehicles insured by my gf's or a friend ...so all was good with current gf so we had a issue with insurance company where my rates were suppose to go down but went up for no reason (their excuse they gave the broker was expenses went up)so i canceled the insurance properly but seems they didnt get it so we got a non payment strike against us so....i found a insurance company that took us but i have to pay every 6months for two vehicles upfront paying alot more than i want to....so i when my renewal came up i called around and with that strike i was quoted wow extreme quotes enought to by a car in a year i think it was.....so my question is ....since the driving record was clean and no insurance claims and normal vehicles (one jeep and one mini-van)can they legally quote that based on a missed payment and not on driving record cuz i cant see why they cant quote me a normal quote and say this has to be payed infull if not illegal what can i can do to have them give me a normal quote and pay it upfront the full amount thanks cuz my renewal is coming up soon and this is getting hard ..

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    Short answer - NO they are doing nothing illegal.

    Long answer - they have the right to quote your business however they feel appropriate, an insurance broker/advisor/agent can not decline to give you a quote - that is against FSCO rules. However, to answer your question about monthly pay, and how missing a payment, or cancellation for non payment can effect you its simple. Every company has guidelines to deal with these. Some guidelines COULD be - 1 or more cancellations for non payment within 3 years means no monthly pay plan. Monthly pay plan is essentially credit, a credit card company will decline you if you have missed payments correct? So the insurance company uses your insurance histroy reports to see your history on monthly payments and if you have been cancelled instead of a credit report.
    As well, if a borker/advisor/agent feels the risk isnt clear - registering vehicles in someone elses name, they may choose to offer you higher insurance rates as it could be a red flag.

    I am not going to go into a big explanation of red flags and why regestering vehicles in someone elses name creates issues if your not listed as a driver etc, but trying to pull things over a insurance companies eyes or " outsmart " them will never happen.

    Hope that helps with your questions.
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    more or less im not asking for monthly just a normal quote for the year and say u have to pay it up front no problem with that all im saying is that instead of basing it on my driving record they based it on a cancelation (that wasnt my fault at time)having the red flags not a issue regarding the insurance but if i cant get a fair deal then iwill pay my parking fines off and transfer the vehicles in my name and just beat them on their game

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    Quote Originally Posted by sabrina View Post
    more or less im not asking for monthly just a normal quote for the year and say u have to pay it up front no problem with that all im saying is that instead of basing it on my driving record they based it on a cancelation (that wasnt my fault at time)having the red flags not a issue regarding the insurance but if i cant get a fair deal then iwill pay my parking fines off and transfer the vehicles in my name and just beat them on their game
    why wouldn't you just pay your parking fines? Not paying them doesn't make any sense, sooner or later they will catch up to you. LOL just ask my ex wife! You did wrong, got a ticket, man up, pay up. So if this is how YOU do business, then how can it be unfair when a company deems you as a "high risk" payee? You just stated you have outstanding parking tickets. POT meet Kettle.
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    unfair practise for pricing

    They just add the tickets to your annual sticker renewal. He will have to pay them Tim. No choice.
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    lol true at time my fines were high over 10 years not a like it was a few years so was cheaper to just put under the gf name havent had a problem doing that in over 10 years just recent with the screw up with that insurance company im getting nailed so yah time to pay the fines they are down quite a bit between the 407 (from ex wife and her dad)and just parking tickets so thats what im going to do but thanks for the info and help

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    Perhaps talk to your previous insurance company and get them to give you a letter stating it was their fault for the paperwork error had that you shouldn't have a nonpayment against you. Insurance companies rate you on risk, if you don't pay your bills on time it is assumed you are irresponsible. If you are irresponsible with money then you must also be irresponsible on the road. At least that's their logic. In the US some of them use your credit rating to decide your insurance rates.... Be glad they can't do that hear.
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    Had a similar problem about 8 years ago. I had already paid everything but since it was on my record, %99 of the insurance companies
    all gave me through the moon quotes the best I could get at the time was $300/month. I even had an astronomical quote of $8900 a
    year. I told him it was a Jeep Cherokee and not a Mclaren F1, and told him to F-off! However I did find a insurance company here in my
    own town surprisingly that gave me insurance based on my driving record rather than my paying record. Now I pay $150 a month for 2 cars.

    So I say keep looking! Someone out there will probably give you a fair rate. And ask for referrals too from friends some companies give
    discounts for referrals, some.. very very few and far between but I know they still exist. Good luck!

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    Parking tickets dont effect insurance.

    Drizit is correct, some companies in the USA use credit score on auto insurance.
    In Canada, they can only do that on property insurance. Althought, I can see it coming to auto insurance in the future as a rating tool. Research shows if you are irresponsible with money, you pose a higher risk for a claim.
    So in a a way, your company/broker is using your payment history in a deciding factor where to place your insurance.

    And FYI, they are not doing anything illegal.

    Monthly payments are a privelage, not a right. So like others have said, look around. I can tell you every company has thier guidelines regarding this.

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    i wish my driving was same as my spending lol but sad no and yah true seems the insurance need a loop hole to make money sad they have to and i dont know why gov wont clamp down on it i guess they need to make their money also ...i sent a ultamatium to my insurance company (mind you i like told them i was quoted a normal price)so she said she will check into it and to wait for my renewal to come in the mail to see if they did reduce it to a reasonable amount but yes i will still shop around but i might just pay my fines and transfer back into my name lol but ill keep u posted

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    Quote Originally Posted by sabrina View Post
    insurance need a loop hole to make money sad they have to and i dont know why gov wont clamp down on it
    You mean finding a loop hole like insuring your car in someone else's name? Or, the government doing something like clamping down on unpaid tickets?

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    I pay high rates because of all of the people who can't drive and make after claim after claim. I have a six start driving record. I have no tickets or accidents on my record. I pay all of my bills and on time.

    There are people that are paying far more than they should even though they have been responsible and are a good risk on every level. When you complain about unfair practices take a step back. Your rates are based at least partially by your irresponsibility. Do you think you have MORE reason to bitch than someone who has done everything right and still pays high rates? Pay your bills. Clean up your record. Kept your record clean for as many years as it takes. Watch your rate come back to where you think it should be. Then complain about high rates when you are responsible.

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