What is everyone paying on insurance?

[nookandcrannycar]

Originally Posted by edmscan

I pay about $74 a month for my 2007 Yaris, including collision. Happy I don't live in Ontario .. but those rates in the US ($288 per year) is pretty amazing.

Yeah, and Tooter's company (the $288 company) is Canadian. The very short description of his company on the DuckDuckGo search page says that it is a mutual company (owned by the policyholders). Such companies don't always keep their initial low rates. I used to have great policies with Nationwide (also a mutual style company). They jacked my rates up one year without anything changing on my profile.

[edmscan]

We have Wawanesa here too .. and they are not one of the cheaper rates out there.

[tooter]

I can't complain about Wawanesa.
I'm happy to pay $24 a month.

[nookandcrannycar]

Originally Posted by tooter

I can't complain about Wawanesa.
I'm happy to pay $24 a month.

Oh, definitely. My intended point was that not all mutual insurance companies are as good as yours/created equal, but I neglected to come to that direct point. If I still lived in California I'd definitely give Wawanesa a call !

[Ripsaw]

Not knowing your age. If over 50 try AARP/Hartford for a quote!

[phaznet]

280$ / month
26/male/ontario

beat that!

[veewonwon]

Toronto, $125.75 / month, '12 Yaris SE, 5-Sp, 5-dr, TD Insurance Meloche Monnex

No multi-car and no house insurance with them.

[nookandcrannycar]

Originally Posted by phaznet

280$ / month
26/male/ontario

beat that!

Insane. Does that reflect any speeding or other tickets?

[goliath1812]

Everything's more expensive in Ontario, but the salaries are higher too....

[jayeh]

Originally Posted by goliath1812

Everything's more expensive in Ontario, but the salaries are higher too....

Except for when you're working a minimum wage job and paying 1/4 of your income for insurance alone... Then it's not so good.

[Superfly]

$110/monthly here in Chitown. Wish it would be cheaper but it is what it is.

[goliath1812]

Not saying it's great, but even minimum wage is a lot higher than it is here...

[Betrivent]

Was just gonna say, insurance for my car for a year is about 2k.

[mr9865]

2012 Yaris L, 49.17 a month. 26 year old single male. Snapshot discount

BODILY INJURY & PROPERTY DAMAGE LIABILITY
BI $100,000 EACH PERSON - $300,000 EACH ACCIDENT
PROPERTY DAMAGE LIABILITY - $100,000 EACH ACCIDENT

COMPREHENSIVE ACV LESS $250 DEDUCTIBLE
COMPREHENSIVE WINDOW GLASS
$0 DEDUCTIBLE FOR WINDOW GLASS

COLLISION ACV LESS $500 DEDUCTIBLE

UNINSURED MOTORIST
$100,000 EACH PERSON - $300,000 EACH ACCIDENT
UNDERINSURED MOTORIST
$100,000 EACH PERSON - $300,000 EACH ACCIDENT

[kc0rpm]

Damn, and I thought my insurance was high. Now I don't feel so bad. 136 a month for two vehicles and home owners ain't so bad afterall

[jayeh]

Anyone else from Canada shocked at how low the liability limits are in the states?

My company won't sell anything other than a 2 million dollar liability policy!

[edmscan]

Originally Posted by jayeh

Anyone else from Canada shocked at how low the liability limits are in the states?

My company won't sell anything other than a 2 million dollar liability policy!

Same here (I have 2 million as well) ... I think that is probably why we are seeing the rates in Canada are so much higher. Guess it all works out to bang for the buck.

[nookandcrannycar]

Originally Posted by edmscan

Same here (I have 2 million as well) ... I think that is probably why we are seeing the rates in Canada are so much higher. Guess it all works out to bang for the buck.

I would guess (not an educated guess as I have no information) that how low the companies go in Canada with their limits might have a basis in some law or regulation. I would think that the average accident in Canada would involve more damage than in the U.S. as a whole and that a significant reason would be that all of Canada experiences a 'Northern Winter'. In California, the minimum liability (at least within the least couple of years) hasn't changed in over 30 years at 15k/30k/5k. Here in the U.S. we have umbrella policies that usually require the total liability limit on the underlying policy to be at least 500k and kick in after that. The underlying policy limits are usually 500k or 750k and some companies will do 1 million. The umbrella policy adds an additional 1 million of liability coverage for typically $100 to $300 per year (not per month) depending on various factors. The umbrella policy also covers liability at your home (if someone trips and falls, for example) unrelated to vehicles. I'm just a diligent consumer, so anyone from the insurance industry please feel free to chime in. Of course some people purchase much higher limits.I heard Dave Ramsey say on the radio the other day (as part of an illustration during a call) that he personally carries an umbrella policy with a 10 million dollar limit and it costs him about $3500 per year. I wondered if 'Northern Winters' and strictness of various state laws in the U.S. might effect limits people choose. In looking at mr9865's post, my guess is that you would be hard pressed to find anyone in Texas, and especially in California making under $10.00 per hour who would carry anything more than the legal minimum. I wonder if the law in Wisconsin makes it prudent to have the limits he does.