Cheapest Insurance?

[iambeetle]

I just got a Mazda 6 and was able to take advantage of the 0% lease interest rate.

now... here is an extra cost arise from that...

I usually buy the car instead of leasing and financing, and I do not believe in insurance on my own car, i.e. insurance to fix your car when you are at fault. So I usually would just take the ICBC insurance that is required to get on the road.

However, now because I am leasing the car, I have to buy insurance to cover the car, and the insurance deductable can't be over 2000 CAD.

I am wondering which insurance company do you guys go for cheapest insurance? I don't mind paying high deductable (but <2000CAD). I just want the lowest cost possible...

Thanks in advance!!

[knight604]

LOLLLLLLLLLLLLLLLLLLLLLLLLL

[bcrdukes]

Why don't you just ride a bicycle instead? Fuck insurance. Shit is mainstream and overrated.

[RRxtar]

why dont you just drive with no insurance like you like to according to this thread

http://www.revscene.net/forums/61908...rohibited.html




Or why doesnt someone ban this fucking idiot

[zilley]

this is epic.

[Expresso]

iambeetle = bcrdukes

[tofu1413]

what's a few extra dollars a month on insurance since you are leasing a car anyways?

[evil_jigglypuff]

if you have less than 10 years of driving experience and have less than 43% discount with ICBC then you are pretty much hooped. Private insurance charges an arm and a leg if you don't have experience and bad driving history. Though try calling CDI or going to their website to get a quote. they are usually the cheapest.

so wait, you wanted a new car and thought insurnace will be cheap?!

[fliptuner]

Originally Posted by tofu1413

what's a few extra dollars a month on insurance since you are leasing a car anyways?

Cause every penny counts.

[iambeetle]

Thanks evil_jigglypuff for your suggestion! I will give it a try.

And to those whom troll without any contribution, I hope you had fun. Althought I don't understand why you want to waste your time on this matter.

And for those who doesn't know why I would want to do that, let me give you my example. Just my opinion though, I could be wrong:

First of all let me give some background info, I have almost 10 years driving experience, no accident from day 1. And I believe I am one step away from maximum discount.

And I had insurance to cover my car before (maybe about 6 years ago), I had an Audi A4, bought used. With insurance to cover the car, I would need to pay around 3000 annually. And without insurance to cover the car, I would need to pay only 1000. So for one year that I don't get into accident, I basically save 2000 dollar. Now, with 9 years of driving without accident, if I hadn't purchase insurance to cover the car, I would have saved 18000 dollar. I think "every penny counts" is an under-estimation.

Hypothetically speaking, if I get into an accident at fault. I would not want to claim ICBC either. Because with the increased premium I would need to pay, it works like a payment plan, with interest. The future money that you don't save, is the money you lose. So I would fix the car at my own cost, because I do not need to "finance" a repair, which is what ICBC insurance is anyways.

I didn't want to lease the car, I wanted to buy it out. But since there is 0% of interest, I could utilize it to invest before I need to put down more to own the car. I can benefit from the Time Value of the Money. If I need to pay a very high insurance, then it kinda defeats the purpose.

Correct me if I am wrong, but I am looking for help here. Any contribution would be greatly appreciated! I am nowhere near rich, and I don't think anyone should spend anything more than it should cost. That's fair, right?

[Lomac]

You don't really have a choice in insurance policies unless you want optional coverage (ie: collision, comprehensive, etc). And even then you're looking at very little difference regardless of if you go with Coast Capital or BCAA.

However, if you get into an accident, it doesn't really matter if you claim or not. The other party likely will and your premiums will go up anyway, unless you opt to pay for repairs out of your own pocket. Most leasing companies require full coverage of your car, though. If you cheap out and they find out about it, you may not be covered for an incident even if it wasn't your fault.

[fliptuner]

Originally Posted by iambeetle

First of all let me give some background info, I have almost 10 years driving experience, no accident from day 1. And I believe I am one step away from maximum discount.

And I had insurance to cover my car before (maybe about 6 years ago), I had an Audi A4, bought used. With insurance to cover the car, I would need to pay around 3000 annually. And without insurance to cover the car, I would need to pay only 1000. So for one year that I don't get into accident, I basically save 2000 dollar. Now, with 9 years of driving without accident, if I hadn't purchase insurance to cover the car, I would have saved 18000 dollar. I think "every penny counts" is an under-estimation.

Hypothetically speaking, if I get into an accident at fault. I would not want to claim ICBC either. Because with the increased premium I would need to pay, it works like a payment plan, with interest. The future money that you don't save, is the money you lose. So I would fix the car at my own cost, because I do not need to "finance" a repair, which is what ICBC insurance is anyways.

1. At 9 years accident free, you're 11 years from max discount.

2. In the 9 years that your discount has been going up, your premiums would've dropped annually - so no, you haven't saved $18k.

3. If you got into an at-fault accident, you're premiums would increase, regardless of if you have collision coverage because insurance would still have to pay for the other party(s) damage. Of course, you could avoid the increase if you pay for it out of pocket but writing off any newer car is going to cost at least $20k - and that's just property - add an injury claim and there's no way you're paying it back.

And hypothetically speaking, as you put it, you don't have to get collision/comprehensive on your lease. You get into an at-fault accident tomorrow and your new car gets written off. You're saying you'd rather pay the >$25k+tax, out of pocket and still have your premiums go up?

[knight604]

again just LOL

[bicboi]

[fliptuner]

I'm curious as to how much 3rd party coverage OP would get if he had the choice.

[GLOW]

i'm reminded of that episode of the simpsons where there was a hurricane and ned flanders didn't buy home insurance because he considered it a form of gambling and his home got destroyed.

now that i got the 'troll' comment out of the way, here's the 'contribution'. can't you walk in to any third party insurance place like johnston meier and get them to go through their list of insurance companies to find the cheapest third party insurance? that's what place like that do for home insurance so I don't see why private vehicle insurance be any different.

[radioman]

Insurance is a lie and a waste of my time

[bcrdukes]

Originally Posted by radioman

Insurance is a lie and a waste of my time

Spoken like a true hipster.

[c4@urdoor]

Originally Posted by knight604

again just LOL

Could you grow the fuck up? You sound 12 in every post of yours.

[iambeetle]

Originally Posted by ICE BOY

I'm curious as to how much 3rd party coverage OP would get if he had the choice.

I am not cheap on 3rd party, I got 3 million for that.

[iambeetle]

Originally Posted by ICE BOY

1. At 9 years accident free, you're 11 years from max discount.

2. In the 9 years that your discount has been going up, your premiums would've dropped annually - so no, you haven't saved $18k.

3. If you got into an at-fault accident, you're premiums would increase, regardless of if you have collision coverage because insurance would still have to pay for the other party(s) damage. Of course, you could avoid the increase if you pay for it out of pocket but writing off any newer car is going to cost at least $20k - and that's just property - add an injury claim and there's no way you're paying it back.

And hypothetically speaking, as you put it, you don't have to get collision/comprehensive on your lease. You get into an at-fault accident tomorrow and your new car gets written off. You're saying you'd rather pay the >$25k+tax, out of pocket and still have your premiums go up?

Thanks a lot for correcting me. There are some good points you are making.

I guess I used a wrong example, I should give the example of my car went into a ditch or something. If my car is written-off and I pay out of my pocket, it does not affect my premium I assume? Also other things like scratched my car and stuff. Please correct me if I am wrong.

My premium should be dropping annually, but would it be that far off though? There is still quite a bit of saving, if you ask me. If I think I drive safe and therefore can reduce the chance, why should I pay at average premium for insurance?

I am sorry that I get kinda off-topic on this. The reality is, I didn't expect to pay insurance, and now I have to, so I am just looking for the cheapest option that covers the minimum requirement, with $2000 deductible.

[twitchyzero]

Originally Posted by c4@urdoor

Could you grow the fuck up? You sound 12 in every post of yours.

http://www.dolcegabbana.com/dgfamily/

Spoiler!

[Lomac]

Originally Posted by iambeetle

I am sorry that I get kinda off-topic on this. The reality is, I didn't expect to pay insurance, and now I have to, so I am just looking for the cheapest option that covers the minimum requirement, with $2000 deductible.

Either you're trolling us or you're asking the question incorrectly.

Are you talking about car insurance that you buy through ICBC in order to legally drive the car on the road, or are you trying to ask about another type of insurance coverage?

[iambeetle]

Originally Posted by Lomac

Either you're trolling us or you're asking the question incorrectly.

Are you talking about car insurance that you buy through ICBC in order to legally drive the car on the road, or are you trying to ask about another type of insurance coverage?

I don't think I can get use another insurance other than ICBC for liability insurance, i.e. the one for legally driving on the road.

I am only asking about the insurance to cover damage to the car, the lease company requires that. However, if I buy the car out with cash, it is not required.

I don't know what do you mean by I am trolling, I am not... I am seriously asking for suggestions.

(I was apologizing for being off-topic because I was writing in length about why I don't believe in insurance.)

[underscore]

IIRC most of the cost of insurance comes from covering you against hitting other people, so reducing the coverage that covers you if you have a single vehicle accident won't change the cost much if at all.