Move to BC, we have socialized car insurance. We all pay to the same crown corporation, if they receive more than they payout you get a rebate cheque.
Car theives will still steal whether you have insurance or not.
Same in Manitoba.
Same in Quebec
That’s fantastic!
There were some years where the government used it as an income source, but that and exotic car drivers paying he same insurance as a minivan, was creating problems so the NDP changed it back to non profit. COVID kicked off the rebates because less cars on the road meant less accident. Still rebates continue
No fault insurance was supposed to save us lots of money (:
I mean you see what’s going on in 'berta and I’ll take our socialism system over that.
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Both. It’s all a scam. Buy the minimum insurance you can find. You can never make a claim anyways, lest your insurance become unaffordable or cancelled entirely, so why bother paying high rates.
Definitely not true. Point of insurance isn’t for small bumps or accidents <10k. Its helpful for that, but not really the intention. I use a 5k deductible, because I probably wouldn’t claim damage below that anyway.
Point of insurance is for catastrophic, life changing injuries, or car being totaled. Ontario lowered the legally allowed minimums for a bunch of the (super important, but rarely used) categories in an effort to lower auto insurance prices a few years ago.
Accident benefits are now 65k default. Optional coverage is like 50$/yr to increase to 1mil. If you have any serious injuries that require more than a few months of rehab (ie back injuries, serious physio for rehab, etc) then you will need the mil. This also covers things like attendant care, if you’re at home and need help with things like showering, cleaning the house, etc. 65k vanishes SO fast.
Make sure, if you don’t have good LTD through work OR you don’t have a good emergency fund, that you top up your income replacement to match your current income. I added 1k/wk income replacement for like 25$/yr.
Optional catastrophic impairment is another clause you should add. Default is 2mil, but if youre actually catastrophically impaired, you’ll need the 3mil unless you have family that can fully support you. Again, its 11$/yr for me.
Insurance shouldn’t be used as a ‘oops, I got in a fender bender and its 5k to fix’. That shit is going to get your rates jacked up cause insurance companies suck. Its in case you serious get fucked up and derail the rest of your life, and in that case you want to make damn sure you have good insurance that will cover you.
To be clear, I have no problem with liability insurance. Everyone should have that. I also don’t have a problem with accident benefits. (Although I think the way they calculate rates is criminal, but that’s another story.)
My problem is with everything else, and in particular, collision insurance. Insuring your car, as a piece of property, is a scam. You can never use it! If you EVER make a claim, your insurance – not just collision, but also liability and accident benefits – will skyrocket. Your insurer WILL punish you and suck you dry to recoup their losses. So why even bother?
Yes, yes, I know you’re supposed to report all accidents (even minor ones) to your insurer, but let’s be honest, no sane person does that. If you can withhold that info, you absolutely should.
Does Canada have uninsured / underinsured motorist coverage? Because down here in the shithole country, one of the main reasons to have insurance is to avoid being bankrupted if some asshole without insurance (and/or driver’s license) plows into you.
You have to have liability insurance here (which I agree is a good thing), but everything else on top of that (e.g. collision insurance) is optional.
I believe it is a minimum 5k fine for no insurance. I pay 1800 a year and never made a claim.
I think about half of the provinces have public insurance that’s run by the province. So, the people who issue the licenses, the plates, and the insurance are the same.
This also means that the police can just scan license plates to check for insurance as they drive around, and traffic light cameras can do the same.
Uninsured drivers isn’t something that we really worry about in those provinces.
You’re funding insurance companies. They don’t like car theft because it means they have to pay out more claims.
