rivingtonpike

This subject is by no means eggsausted.

rivingtonpike

So now there aren't enough roads for you! Yours must be an unhappy life. Is there anything you do like (except cheap milk)?

graham the eggman

That's the problem Canadians ignore what to the outside world are many obvious problems in Canada.
Lets discuss the native Indian problem, what it costs, they do nothing but you pay but say little.
I have a friend in Canada awaiting the "Native Tax Free" card down to his Gt Gt Grandmother born Scotland around 1850 and then his son gets one
Your Barmy

dbd33

Yes. According to the industry, 25% of the cars on road are uninsured.

Lychee

$6000?! I pay $130 per month for my insurance in BC.

rivingtonpike

I was pretty convinced this was a Troll, but now I'm starting to think it's a real person who has been very wronged by Canada and Canadians. I know I live on the other side of a particularly large country from NS, but I still, in some way, can't help feeling just a little bit responsible.

Novocastrian

As ever YPMV, but there's no Provincial system for vehicle insurance in Ontario.

That being said, I've just checked my banking on line and it appears I pay $272.82 per month for insuring two cars (neither, I'm pleased to report, a V6 or V8 embarrassment).

Which is still silly.

I pay the equivalent of $80 per month for a vehicle similar to the bigger one that I have here in France.

DandNHill

If you borrow somebodies car, you borrow their insurance which no doubt is a higher risk for the insurance company, so increases the premium... also there are less people paying in so the premiums have to be higher to be able to enable insurance companies to pay out when an insured makes a claim. There must be other differences which go towards justifying higher premiums over here... I spent 6 months working for an insurance company but I have conveniently forgotten most of what I learnt!!

Novocastrian

Wash your brain out and think about that again..

christmasoompa

Gosh, you really are a cheery, upbeat soul aren't you? Don't let these guys yolks get you down, they're just milking your dairy obsession but really eggsellent people.

Oh, and it's 'you're', not 'your'. My 7 year old can manage to get the correct version of your/you're, if you could too it would make your posts much easier to read.

CFAmovingsoon

I did. Here's what I found.

https://www.cibc.com/ca/apply/ndao/a...&newComer=true
NewStart Banking Plan | BMO Bank of Montreal
When I was looking I didn't check RBC as I didn't think it had enough branches for where I was going, they seem to have an option for persons who 'have not arrived in Canada yet':
Banking Packages – Immigrating to Canada – RBC Royal Bank
Didn't want to bank with HSBC as they only have a branch in Halifax.
I was looking at NS and only tried the banking accounts for newcomers though. I figured, as I wasn't PR until I landed there was no use in continuing this online, YMMV. For me it was just as easy to set it up in NS.

Silverdragon102

We used HSBC in the UK and opened Canadian bank account with them before we moved, was nice having credit and debit card all set up. We do everything online and haven't had any issues and living 2 hours away from Halifax have had no need to go to the bank itself to deal with anything

DandNHill

Haha, I read that back several times and couldn't see what was wrong so decided I was tired... I'll put it down to working too many hours yesterday and moving furniture in my spare time!!!

dbd33

The car insurance companies don't set the premiums. They suggest premiums they'd like to charge for government approval and it's the government that has the final say; last year the Ontario government cut all auto insurance premiums.

Since many of the same companies operate here as in the UK and the US we can reasonably suppose that, given the freedom, they'd calculate their auto premiums here in the same way as they do other lines of business here or vehicles in the UK. That method being approximately that actuaries project how much money is needed to achieve an acceptable loss ratio and sales people bump it up to the highest number they think they can get. Note that surprisingly few insurance companies in the US calculate their own premiums, they typically buy the rates from a shared service and then bump them so as not to "leave money on the table", that is, charge less than the driver will pay.

The problem in Canada is that a very high premium is needed to achieve even a break even loss ratio and a break even loss ration won't do in a time of low interest rates. The crux of this matter is that people in Canada drive badly and they like to sue each other.

There's all manner of other things wrong with the insurance industry in Canada, of course; archaic working practices, multiple levels of government meddling in every detail of the premium calculation, ill considered reporting requirements, the agency system, rampant nepotism, product bundling reducing competition, lawyers, and the dishonesty and corruption typical of the industry worldwide. However the inability of people in Canada to turn their vehicle lights on and steer out of the way of other cars is not the fault of the insurance companies.

haggis88