How high is our insurance renewal likely to be

by Christine
(Whitby, Ontario Canada)

My son who is 18 is on my insurance as an occasional driver while he only had his G2 license he was stopped for speeding over 50km he got a 30 day ban, 6 demerit points and a fine. We had only just received our insurance renewal so it did not change for this year. My son has now got his full G license I was wondering what sort of increase would we be looking at?


Reply: Auto Insurance Renewal Rate


Hi Christine,

Oh boy, teenage boys!

At 50km/hr over there is a strong chance that your policy will be cancelled on renewal. And it could be difficult to find new coverage anywhere near the rate you might be paying now (expect double or more).

If you are cancelled, you might be able to find coverage and specifically exclude him as a driver on that policy to get more affordable rates. But then he would be without coverage. In that scenario he could have a car in his name and have an insurance policy in his name as well.

If I were you, I would wait until receiving notice from the insurer leading up to your next renewal. You have that time frame to think about what to do. Best of luck!

Oh, by the way, before making any decisions, please be sure to discuss this further with a licensed insurance representative.


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Note: Keep in mind that insurance licensing, legislation, and policies often vary by province and most certainly by country. Canada Insurance Source is a free information source. So use this site to gain a general understanding of insurance with your own area and situation in mind. This insurance information is general in nature and the policy wordings always take precedence. It is possible that there are errors and omissions in this website and www.canada-insurance-source.com, or its authors, take no responsibility. Make sure you review the "please read" page.

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Sep 18, 2014
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G2 son occasional driver involved in accident
by: Anonymous

Hello,

My son who has a G2 lic was involved in a rear end collison his fault. The officer wrote him a ticket for failing to make a proper stop, no points, to help him out. (Big Break) I advised other car to get 3 quote and I'll decide if I will get insurance involved. There is a police report. I'm worried if I pay for the damages, the accident report is going to catch up to us anyways, and hence paying for damages ultimately a waste. 2nd part of Question If I decide I'm not going to pay for his damages, I still do not plan to contact my insurance company as I had no damage to our car and not sure how the no fault accident rules pan out. Hope that makes sense.

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Note: Always speak with a licensed insurance professional about your specific situation. This insurance information is general in nature and the policy wordings always take precedence. It is possible that there are errors and omissions in this website and www.canada-insurance-source.com, or its authors, take no responsibility.

Keep in mind that insurance licensing, legislation, and policies often vary by province and most certainly by country. Canada Insurance Source is a free information source. So use this site to gain a general understanding of insurance with your own area and situation in mind.  Make sure you review the "please read" page. Always speak with a licensed insurance professional about your specific situation.

Always speak with a licensed insurance representative about your specific situation.

This site is general in nature and there may be errors or ommissions

Please Read

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