How has your insurance premium changed?

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Stan Birch

Well-known member
Joined
Feb 20, 2009
Posts
174
Location
Newmarket, Ontario
In response to comments about the severe exclusions and restrictions on Ontario, (i.e. Canadian) insurance policies, my response was that these restrictions were motivated by political pressure to keep insurance rates low. So . . . I am curious as to how well have our politicians have done?

My vehicle: 99 Winnebago Adv

Insurance Coverage:

Liability: 2000,000
Accident Benifits med and disability
Collision 1000 D
Comp 1000 D

Annual Insurance cost in 2000:  $635

Annual Insurance cost in 2012:  $485

How do these rates compare with elsewhere in North America?
 
    Stan, my policy information is filed back in Halifax, so I can't provide my response.  Further, since this string has been on the go for a while, and now has a limited number of posters, you might want to start your question on its own string.  It is an interesting question though.

Ed
 
[quote author=Hfx_Cdn]... you might want to start your question on its own string.[/quote]

No need to do that; I've split these messages into a new topic.
 
Comparing premiums is meaningless unless the vehicles are comparable, the policies have the same limits and deductibles, and are garaged in the same area.  Comparing relative premiums from one year to another for the same vehicle can be meaningful if all other factors are kept constant.  There are just too many things that affect insurance premiums to make any useful comparisons.
 
Ned said:
Comparing premiums is meaningless unless the vehicles are comparable, the policies have the same limits and deductibles, and are garaged in the same area.

Continuing on from a different thread, that was the whole point of the  question: how insurance premiums are affected by different laws in different jurisdictions.

So . . even addressing the cost of liability insurance alone, which has to be pretty much consistent regardless of the value of RV, For North America wide liability coverage in a No-Fault jurisdiction:

Liability $2,000,000 costs $134 per year.

13 years ago when the rig was new Collision and Comp 1000 D cost $316
13 years later when the rig is worth squat the same coverage is still $150!

(ie
Annual Insurance cost in 2000:  $635
Annual Insurance cost in 2012:  $485)
 
You may still feel that way if you compare my Texas rates for 300,000/500,000 are just ~$120 a year more than yours, my coach is new, and $580 of that annual total, i.e. $751 is my collision and comp with $5,000 deductibles.

And my usage is 300 days a year ( to the insurance company ) and we are full time.
 
Insurance premiums are largely determined by where the vehicle is registered or garaged.

We have an address in West Los Angeles and an address in Fallbrook CA..... if we garage our vehicles at the West LA address our insurance is double what it is in Fallbrook (125 miles away).
 
Wavery said:
Insurance premiums are largely determined by where the vehicle is registered or garaged.

And how they are used.  Most insurance companies factor in how much they expect an RV to be in storage. Our rates are higher because we are on the road over six months a year and for insurance purposes are considered full timers. While getting quotes a few months ago one company was not willing to insure us if we were in the RV over 150 days a year.
 
I just renewed our motorhome coverage for $896 total. This is rural-Florida based insurance, which is cheaper than the more populous areas of Florida but not cheap on a national basis. It is not Fulltimer coverage - we are no longer staying on the road more than 150 nights/year. When we had that coverage, it was about $68 more.

Bodily Injury Liability of 250k/person, 500k total, is $91
Property Damage liability of $100k is $39
Personal Injury Protection (no fault) is $20
Collision $1000 deductible is $240
Comprehensive (non-collision damage) is $449
Miscellaneous coverages and fees: $57

Obviously the coverage for non-collision damage (fire, wind/water, theft, etc) to our own vehicle is the big ticket item for us. Equal to everything else combined! Coverages for actual vehicle accidents is not expensive at all.
 
    As stated above, my records are back in Halifax, but I can say that all in on our 2 SUV's and the Motor Home, plus the stick house we pay $1,810.  That provides $2MM liability, $500 deductible collision and $250 comprehensive.  I've never been asked about length of usage, guess it isn't a big issue in Canada, and now with our place in Florida we too do not use it for that type of time frame.

Ed
 
Hfx_Cdn said:
As stated above, my records are back in Halifax, but I can say that all in on our 2 SUV's and the Motor Home, plus the stick house we pay $1,810.

Sounds pretty good to me!! Although we only pay $450 for replacement cost contents home insurance and $485 for the motorhome; they really nail us on our '09 Lincoln MKS to the tune $1100 and even $900 on our 2001 Mercury Marquis!!

Like you, we've never been asked about length of usage, nor where we use it. If they knew the truth!! We put far more mileage on our motorhome, than on our cars! And that morsel of information only comes in handy when the by-law officer comes by and tells us we can't "store" our motorhome on our own property. I defend by telling him that we are not only not STORING it, but according to the number of kilometers used by each of our vehicles, our motorhome is our primary motor vehicle!  :)

With the usual annual threats of issuing a summons, and taking me to court; we have been doing this same dance for the past six years! :) Amidst all of our interaction over the years, we have actually become good friends. He is looking forward to his retirement: he wants to go RVing!!! ;D 

 
Last year, just by coincidence, on the renewal month on my Insurance, (Mine went down by the way) Someone in another forum posted that despite no tickets, no claims and a better driving record than I have his insurance went UP, $2,000 UP.

Mine is less than that per year.
 
Our last insurer ( Progressive) raised our premium 40% last year with no incidents or tickets. I guess I should say tried.
 
Gary RV Roamer said:
I just renewed our motorhome coverage for $896 total. This is rural-Florida based insurance, which is cheaper than the more populous areas of Florida but not cheap on a national basis. It is not Fulltimer coverage - we are no longer staying on the road more than 150 nights/year. When we had that coverage, it was about $68 more.

Bodily Injury Liability of 250k/person, 500k total, is $91
Property Damage liability of $100k is $39
Personal Injury Protection (no fault) is $20
Collision $1000 deductible is $240
Comprehensive (non-collision damage) is $449
Miscellaneous coverages and fees: $57

Obviously the coverage for non-collision damage (fire, wind/water, theft, etc) to our own vehicle is the big ticket item for us. Equal to everything else combined! Coverages for actual vehicle accidents is not expensive at all.

Ya'll have hurricanes, we have tornado's, I guess that does figure in here in Texas.
 
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