Interestingly, while everyone loves to protect ‘free market conditions’ ie private auto... the last study I read from Deloitte found that the four provinces with public (government) auto have the cheapest insurance rates... but I think it’s a very open debate.
Ambulance chasing personal injury lawyers would never go for that No Fault stuffOriginally Posted by Godfather
If they are only offering the bare minimum of coverage required, it's easy to have a lower rate. One lawsuit against you though and those minimum coverages are useless.
Me and the wife carry $250K/$500K coverage with an umbrella policy of up to $1 million more for liability.
Oh they offer full coverage too, and almost all people take it from them as it’s easier than having two insurers to deal with. Still cheaper than provinces with fully private per that study!
Most people here have at least $2 million liability but technically $250k is minimum. Given ICBC had had accidents with bodily injury over $7mil you’d be nuts driving around with less than $2-3mil in my personal opinion.
Last edited by Godfather; 03-15-2018 at 08:58 PM.
No opinions either way other than, yes he seems to be a jerk. That said, I've had run ins with other peoples insurance here not wanting to pay out properly. Some of us don't drive 12K cars. The Ferrari F-40 is my all time fav Ferrari.
Yeah my PLPD is 2 million because my old boss's wife who used to write corporate and then private insurance gave me an example. "What if you hit a bus full of orphans and nuns and every one of them claims injury or death against you, including the bus driver for property loss?"
Nice ol British woman had a good way of putting things
Wow, you guys have a higher minimum than we do (and that's a good thing). The minimum auto coverage required by Colorado is $25,000 per person for bodily injury, $50,000 per accident for bodily injury, and $15,000 per accident for property damage which isn't shit. So if you get hurt by someone carrying only the state minimum and they have no assets to sue for, then you have to collect on your own insurance policy.
And that's strange considering what happens in your country (no offense intended) where people sue each other constantly and don't carry insurance at times.
I thought 500k was our minimum, but again GF knows this stuff inside and out.
25 grand for injury? The person could make 150 grand a year, claim lost wages time and eclipse that limit instantly. And only 15 grand for property damage? A new Honda SUV up here is over 50 grand and that's not even in the Cadillac or Lexus territories..
It's always people driving POS cars that have the absolute minimum liability coverage. And those are also the people you can't sue because they have nothing to get from them. And I completely agree with you, as sue happy as people are in this country, the state minimum should be MUCH higher. For those same three liability instances, I carry $250K/$500K/$250K with an additional $1 million in liability coverage. Still not a LOT of coverage, but should keep us safe against most normal kinds of claims.
We get pretty stiff fines if caught with no insurance and or registration. Back in the day, a friend of mine got a 400 dollar ticket for not providing registration within 24 hours.
They've tamed the registration thing down and now ticket highly on the no insurance people.
I wonder if that would help you guys? Impose a 500 dollar fine on those mooks driving without insurance and impound their car until they can provide it?
That's just it, it's already a stiff fine here:
If you are caught driving without proof of insurance, the penalties are steep (Colorado Statute 42-4-1409): Four points against your driver license. First offense: minimum $500 fine, and license suspension until you can show proof to the Division of Motor Vehicles that you are insured.
I used to hate the idea of CCTV, but now I'd love to have them on every block of cities.
Someone runs a red, let's go upstairs and look at that play again Bob!
Ya even the min. here is too low for my blood.
Thankfully everyone who buys compulsory auto also gets $1mil of “underinsured or uninsured motorist protection” too, which means like you said, if some dillweed with no coverage or not enough hurts you, your own policy kicks in up to $1 mil for bodily harm. I also buy that limit up to $2 mil because it’s only $25/year. Probably the best $25 of insurance you can spend.
I dunno if it would help...I can't even begin to count the number of violations I have seen happen right in front of cops and the cop didn't do anything. And it really pisses me off. Last ticket I got was for allegedly running a red light. Cop pulled me over, told me why he stopped me, and I told him it was still yellow when I entered the intersection. He said, you're right it was close, but I'm still giving you a ticket because we have zero tolerance for red light violations.
Biggest offense I see every freaking day is people ACTUALLY running red lights, especially on left turns.
But what sucks is, if you have to claim on your own policy, your rates go up, it's a no-win situation.
Posting Permissions
Reply With Quote
