How long will my past accidents effect my life?
I have a few concerns and am wondering if anyone can help me out.
Here is my driving history: When I was in grade 12 (2006-2007) I purchased my first car and got into some trouble. First off, that winter I lost control in the snow and hit a parked car, I was found 100% at fault. Secondly, at the end of that same school year I was involved in a fender bender in a parking lot; both drivers were found 50% at fault. I also received 1 speeding ticket that year of 15km/h over the speed limit.
I am male and had a G2 licence then but was never convicted of an offence by the police, nor did I lose any points. As you might assume after such an (atrocious) year my insurance company refused to cover me or my mother anymore and we lost our insurance policy.
I sold my vehicle because I was "high risk" and so my mother and I joined a new insurance company that would insure me. Because of my history, my insurance rates were out of control even as a secondary driver. But, I understood I screwed up and would have to pay for it.
However, it is now the 2011-2012 school year (I am almost 23 years old and have a full G licence), I am about to graduate from my 5th year of University. I have been driving that same car as a secondary driver for almost 5 years with no at fault accident (was rear-ended in traffic 2 years ago - found to have been completely innocent of fault - and assured it would not affect me). I have also not had a single traffic ticket (speeding or parking). And during this time my sister now 19 has been added to the policy.) My mother and sister have both never had a single accident or ticket.
Why have I never had my insurance rates come down, I now have my G licence, I am free of at fault accidents for almost 5 years, no tickets, and I’m the high risk driver - yet I share the vehicle with two other people as opposed to one at the time the policy was created, this means I’m behind the wheel less.
I know I made some mistakes when I was 17.. And I have been paying for them. Yet my policy renewal just arrived in the mail and they are raising me another 30%. I understand policy rates naturally rise, but why have I never seen any type of reduction or even had my policy stay the same on renewal, it always goes up drastically (and it was already higher than anyone could believe to start).
I am not expecting it to go away over night but this insurance company is going to bankrupt my household by the time they are done punishing me for my mistakes.
Am I ever likely to escape this cycle, to see some sort of reduction?
Thank you in advance for your time,
Insurance Rates and Accidents
By now your rates should be coming down. After 6 years without an at fault accident your rates should not be affected by accidents any longer.
It would seem to me that the rates on the policy are high partially because of your younger sister who was just added (rates are high the first few years insured regardless of driving record).
You should shop around at your next renewal. Please be sure to discuss this further with a licensed insurance representative. FREE Auto Insurance QuotesOther Pages of Interestcar insurance in Ontario Canada Car Insurance CanadaCar Insurance Quote CanadaAuto Insurance Questions
Or Ask another question at Ontario Auto Insurance Questions and Answers
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. www.canada-insurance-source.com