Re: Car insurance for new CAD residents
Originally Posted by Tumbling_Dice
(Post 12364689)
I am in Nova Scotia and in a similar boat. The broker I am using asked me to get my last 5 years insurance history. Having bucked it all out, I had to apply to the MIB in the UK. You pay a tenner and they send you your last 7 years insurance history under the FOI act, so it can take up to 40 days. However, the insurer here said that brought my quotation down from $5,500 to $2,600.
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Re: Car insurance for new CAD residents
Originally Posted by Hurlabrick
(Post 12365689)
Oh that is VERY interesting! And did they accept this output from the MIB (in place of letters from each and every insurer)???
Agreed that is good to know! |
Re: Car insurance for new CAD residents
Originally Posted by Scots_in_Canada
(Post 12361388)
Hello
My husband and I will be buying a car as soon as we arrive in Canada. We both have UK driver's licenses. I've read stories that insurance in Canada can be up to 6k per annum for one car!? What have others done to avoid such high rates? Any recommendations for an insurer that will take into account our no claims history in the UK? Many thanks! |
Re: Car insurance for new CAD residents
Originally Posted by misskatpaw
(Post 12365634)
ICBC in British Columbia requires letters from UK insurance companies following this format:
http://www.icbc.com/autoplan/moving-...residents.aspx Went through this in my name 5 yrs ago when we moved here and going through it now in my husbands name. Massive pain but should save us at least a grand a year. Although I expect some nit picking as I could not get all 3 insurance companies to follow this exact format, no matter how straightforwardly it’s spelled out. 8 years history prior to emigration is required. If you do establish this is needed where you’re moving to, I would def do this before you leave the UK. Good luck |
Re: Car insurance for new CAD residents
Originally Posted by Tumbling_Dice
(Post 12364689)
I am in Nova Scotia and in a similar boat. The broker I am using asked me to get my last 5 years insurance history. Having bucked it all out, I had to apply to the MIB in the UK. You pay a tenner and they send you your last 7 years insurance history under the FOI act, so it can take up to 40 days. However, the insurer here said that brought my quotation down from $5,500 to $2,600.
https://www.mib.org.uk/check-insuran...tion-from-mib/ |
Re: Car insurance for new CAD residents
Big respect and thank you to all contributors to this thread - among the hundred million other items on my to-do list, I hadn't even considered the car insurance minefield to come :eek: <takes a deep breath and dives into the murky depths of no claims...>
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Re: Car insurance for new CAD residents
Originally Posted by Dave_Pardew
(Post 12372467)
Big respect and thank you to all contributors to this thread - among the hundred million other items on my to-do list, I hadn't even considered the car insurance minefield to come :eek: <takes a deep breath and dives into the murky depths of no claims...>
https://www.gov.uk/government/public...driving-record Piece of cake to get and it's free. |
Re: Car insurance for new CAD residents
Thank you Hurlabrick, will do :thumbup:
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Re: Car insurance for new CAD residents
Originally Posted by ecokid
(Post 12372377)
We're moving to Vancouver Island, BC in the New Year. Car insurance does seem rather eye-watering - what sort of costs we can anticipate in the province? My partner has only had a licence for 7 years here in the UK - will that be sufficient? Thanks.
Claims a discount for no previous claims is allowable if you can bring letters from previous insurers showing you have made no claims. Any break in insurance history is where they stop, insurance letters must show the person claiming the discount as the policy holder. Letters must be in the format required by ICBC. http://www.icbc.com/autoplan/moving-...residents.aspx We have the full 43% discount with 20 years, paying around $1600 a year for a truck, $2000 for an SUV and $3000 for M/C http://www.icbc.com/autoplan/moving-...residents.aspx |
Re: Car insurance for new CAD residents
We live in Ottawa and got fully comp for both of us with Cooperators for under $1000.
No fuss and our UK history accepted without question. New KIA Rio Try them. |
Re: Car insurance for new CAD residents
Apologies if I've missed it, but it never seems to be mentioned when discussions about UK vs Canadian insurance rates comes up.
In the UK, you insure a named specific driver, to a specific vehicle. Thus, in most cases, only 1 person is legally allowed to drive that vehicle under that policy coverage. You can name extra specific people, but then your rates go up. In Canada, you insure the vehicle, period. As the vehicle owner I can let my friend, neighbour, or stranger off the street borrow my car, and they are covered under my insurance policy. This obviously carries a greater risk for the insurer, and thus the premiums are higher. I've always assumed Canadian insurers do this because of the vast distances we drive here, which require sharing the driving on long road trips. |
Re: Car insurance for new CAD residents
Originally Posted by Photoplex
(Post 12390538)
Apologies if I've missed it, but it never seems to be mentioned when discussions about UK vs Canadian insurance rates comes up.
In the UK, you insure a named specific driver, to a specific vehicle. Thus, in most cases, only 1 person is legally allowed to drive that vehicle under that policy coverage. You can name extra specific people, but then your rates go up. In Canada, you insure the vehicle, period. As the vehicle owner I can let my friend, neighbour, or stranger off the street borrow my car, and they are covered under my insurance policy. This obviously carries a greater risk for the insurer, and thus the premiums are higher. I've always assumed Canadian insurers do this because of the vast distances we drive here, which require sharing the driving on long road trips. In Canada you are asked to provide details of all cars and drivers in the household and the company then rates as if someone is the primary operator of each vehicle (even if you are not insuring all the vehicles and drivers). Companies often exclude specific drivers from some or all of the vehicles e.g. "the 18 year old can't operate the Ferrari", "the frequent drunk driver can't operate any of the vehicles". Note that, excepting exotics, the car doesn't matter in Canada the way it does in the UK, if you're only concerned with insurance costs you may as well have the 550hp as the 300hp model. The reason for covering "any driver" here (ON) is just that the company insuring the car (or the last insurer if there's none at the time of an accident) is on the hook for the liability risk associated with that car regardless of who's operating it. I don't know if this law was the deliberate policy of some government or happenstance but it means that offering "any driver" is not the company doing the policyholder a great favour. In exciting news, my policy is just renewing and it's under $4000 for the year; we'll be able to dine out again! |
Re: Car insurance for new CAD residents
Originally Posted by llysmabley
(Post 12390518)
We live in Ottawa and got fully comp for both of us with Cooperators for under $1000.
No fuss and our UK history accepted without question. New KIA Rio Try them. |
Re: Car insurance for new CAD residents
No, just a standard policy.
We are both in our late 70's and the new car was $22'000. Last month a woman ran into us on a roundabout ( drivers haven't got used to them yet ) Completely her fault and no contest. Our claim was processed smoothly and the repairs were first class at Assured I can recommend Cooperators for insurance. |
Re: Car insurance for new CAD residents
Originally Posted by llysmabley
(Post 12391110)
No, just a standard policy.
We are both in our late 70's and the new car was $22'000. Last month a woman ran into us on a roundabout ( drivers haven't got used to them yet ) Completely her fault and no contest. Our claim was processed smoothly and the repairs were first class at Assured I can recommend Cooperators for insurance. |
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