Model S Insurance in Canada

[Doug_G]

I know someone who got nailed very hard on the windshield claim thing in the past. Maybe it's not still the case.

I just got a preliminary quote from TD Meloche Monnex for $732 a year, $1M with $1000 deductible. I'm on the "grandfathered" Professional Engineers Ontario plan so that should be a really good rate.

Mind you the quote is preliminary because they couldn't find my VIN in the system. It has to be reviewed.

[znino]

I know someone who got nailed very hard on the windshield claim thing in the past. Maybe it's not still the case.

I just got a preliminary quote from TD Meloche Monnex for $732 a year, $1M with $1000 deductible. I'm on the "grandfathered" Professional Engineers Ontario plan so that should be a really good rate.

Mind you the quote is preliminary because they couldn't find my VIN in the system. It has to be reviewed.

$732 is excellent for the $1000 deductible. Isn't it great to be a engineer?

The rules may have indeed changed as you can read from on the screenshot I posted from the IBC. At $732 and $1000 deductible you are good to go!

Question: Did TD say you had no choice but to install a tracking device and monitoring because they told me that and would not let go even when i told them Belair had no such requirement and it would make them non-competitive!

[clea]

I am concerned about the requirement for the tracking device by TD. I don't really want people messing with the car so that they can hide it somewhere. I even doubt they would know where to put it.

Were they insistent on the device just because the price of the vehicle crossed a threshold?

Can the car itself not be considered as one big tracking device (along with the mobile app to track it) :~?

[znino]

I am concerned about the requirement for the tracking device by TD. I don't really want people messing with the car so that they can hide it somewhere. I even doubt they would know where to put it.

Were they insistent on the device just because the price of the vehicle crossed a threshold?

Can the car itself not be considered as one big tracking device (along with the mobile app to track it) :~?

TD was clear with me that they could NOT insure this car without one and I had the exact same worries about it as you. It had nothing to do with just a means to lower the premiums or specifically the price. It's is how it was listed in this system. I tried to argue but they said it was in their requirements. I told them the car is Internet connected and I will likely soon have an app to locate it. They said no and gave me a list of 5 different tracking systems that were approved by them. No others would do. It just wasn't worth the $200 less in yearly premium over my Belair quote (especially considering monitoring is that much!). Interested to know if anyone was told a different story. Maybe it also varies by province. Who knows!

[Doug_G]

$732 is excellent for the $1000 deductible. Isn't it great to be a engineer?

Gotta get some benefit from all those PEO dues!

The rules may have indeed changed as you can read from on the screenshot I posted from the IBC. At $732 and $1000 deductible you are good to go!

Ah, okay, good to know. It was pretty stupid to have an incentive to fix your windshield combined with a major hidden disincentive!

Yeah the rates on this plan are really good.

Question: Did TD say you had no choice but to install a tracking device and monitoring because they told me that and would not let go even when i told them Belair had no such requirement and it would make them non-competitive!

They didn't say anything about that. They didn't ask for one on my Roadster either.

[Jeeps17]

TD was clear with me that they could NOT insure this car without one and I had the exact same worries about it as you. It had nothing to do with just a means to lower the premiums or specifically the price. It's is how it was listed in this system. I tried to argue but they said it was in their requirements. I told them the car is Internet connected and I will likely soon have an app to locate it. They said no and gave me a list of 5 different tracking systems that were approved by them. No others would do. It just wasn't worth the $200 less in yearly premium over my Belair quote (especially considering monitoring is that much!). Interested to know if anyone was told a different story. Maybe it also varies by province. Who knows!

I don't think it is only related to the vehicle price.

For example, when I leased my G37X 3 years ago, Desjardins (La Personnelle) forced me to install a Boomerang to get insured, only to send me a letter 2 years in stating that requirement had lapsed... Since I paid in advance for the device and 3 years of monitoring, obviously that sucked...

When I called the same insurer to get an idea for the Tesla S, they noted that a tracking device was NOT required. Go figure...

[mknox]

I know someone who got nailed very hard on the windshield claim thing in the past. Maybe it's not still the case.

In my experience, this comes back to bite you if you ever want to change insurers. I had a small claim like that and a couple of years later when I shopped around for better pricing, I found a few less expensive companies. But when I disclosed the past claim, the quote shot way up to more than I was currently paying. It took something like 5-7 years for insurance companies to disregard it, and so I had to wait several years to switch companies and enjoy better pricing.

[Zapped]

Zapped, the premium is low (similar to what TD told me when i called) but the deductible is very high. Basically, you will not claim any issue, even if not your fault like a busted windshield or hit and run or hit from behind unless it is a really big repair. That scared me a lot and so I opted for Belair direct that quoted me just over $900 but the deductible is $500 on collision and $250 on comprehensive (they do not have the $100K car requiring high deductible issue). Furthermore, TD was forcing me to install a tracking device like boomerang so if I factor $500 to buy and install the thing and $200 per year for monitoring, I was already close or over than Belair, not even counting the much higher deductible. Might be worth a call to Belair to compare.

Because the car was over $100k, the quote prep. had to go up a level. Even though the deductible is $5k, they assured me that they would be involved in any 3rd party dealings whatever the damage value. Also have some full replacement cost coverage for $40.00 / year. (have to wait for the paper to see what that's all about) No request for tracking device. I've got the policy coverage in place with my VIN. Funny they didn't ask for a bill of sale.

[znino]

Because the car was over $100k, the quote prep. had to go up a level. Even though the deductible is $5k, they assured me that they would be involved in any 3rd party dealings whatever the damage value. Also have some full replacement cost coverage for $40.00 / year. (have to wait for the paper to see what that's all about) No request for tracking device. I've got the policy coverage in place with my VIN. Funny they didn't ask for a bill of sale.

They have the cost of the car in their system with the VIN. Maybe they asked you for any additional options but that usually is it. I also took full replacement replacement value. For 2 years if the car is a total write off, they pay the full initial amount, not the depreciated amount.

[Doug_G]

I just got a preliminary quote from TD Meloche Monnex for $732 a year, $1M with $1000 deductible. I'm on the "grandfathered" Professional Engineers Ontario plan so that should be a really good rate.

...and when I called back to actually add the car to my policy, they told me the deductible has to be $5000 because of the price. Go figure. Practically speaking that means I'm only getting insured for major accidents and car theft. However I did take the $20 per year replacement value rider, which means if the car is stolen or totaled in the first five years I get a new car.

They still couldn't find my VIN number in their system, although it did pass through their VIN checker tool as valid.