Quote:
Originally Posted by Manic!
If buy a used Mercedes for 50K does not mean the repair costs are going to be the same as my new GR Corolla that cost around the same amount to buy. There is a max they can discount on insurance. If they kept giving you a discount every year sooner or later your insurance would be $0.
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Well at some point you have to use logic in the assessment. You shouldn’t be able to make a $65,000 claim on a 25 year old Ferrari 355.
If your vehicle is going to cost substantially more than average to repair, you should pay higher premiums. If you drive a vehicle that shares parts and body panels with other vehicles, your premiums should be cheaper.
My point is, there’s all this talk as to how BC is so cheap, when it seems like there is almost no tangible data Canada wide as to the average insurance rate for ages ranges or prices of vehicles.
I would lean toward this data never being publicly available, because it would show “good” drivers are getting screwed regardless of where you live because you pay for bad drivers.
Some car guys I watch in the states are insuring insanely modded out vehicles for like $1200 a year, they insure dozens of motor cycles at a time for $50 a month, etc.