#8417215 - 10/27/15 08:23 AM
Discounted insurance with winter tires
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furball
Post Master Sr
Registered: 09/24/03
Posts: 9491
Loc: Toronto, ON
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http://www.thestar.com/business/personal...eak-mayers.html
What you need to know about the winter tire insurance break: Mayers
The Ontario insurance discount for winter tires takes effect Jan. 1. It’s a good idea, but has a long payback.
A very small piece of Ontario’s efforts to drive down the cost of car insurance is a new requirement that insurers offer a discount for snow tires by this coming Jan. 1. When I say small, I mean it. If you buy new tires, the payoff is seven to 10 years away, and by then the car may be long gone. So should you bother? I’d say so. This is really about safety, not insurance, despite how the Ontario Liberals have cast the move.
For anyone commuting in and out of Toronto and its freeze-thaw weather, winter tires are a must. I’ve had them for a decade and wouldn’t go back. The road grip and handling are far better than on our second car, which has all-season radials. The discount is likely to be about 5 per cent of the cost of a policy. Since the average GTA car costs $1,600 to insure, according to the Insurance Bureau of Canada, you may save $80 per car per a year with winter tires. The cheapest winter tire sold by my garage is $135 plus tax, or $610 for four. You can, of course, get cheaper or more expensive ones depending on where you shop. But in this example, the break-even point is 7.6 years.
What the Ontario initiative illustrates very clearly is the importance of shopping around. There are more than 50 companies offering car insurance in this province, and their discounts vary based on their claims experience. Some already offer the winter-tire discount. Some won’t tell you it’s available unless you ask. Going online to compare prices is easy.
So here’s what you need to know:
When can I get the discount? All Ontario insurers must offer something by Jan. 1, 2016. But provincial finance minister Charles Sousa’s office says 45 per cent of them already do so.
I’m renewing before Jan. 1. Can I still get the discount? Not unless your company already offers one.
My policy with TD Insurance Meloche Monnex (Security National) renews in two weeks. An agent told me over the phone last week the discount is not available until January, but did not know how much it will be. He advised me to call back then and ask for a policy adjustment. Crystal Jongeward, a spokesperson for TD Insurance, says the discount could be up to 5 per cent.
How much is the discount? It will vary, but will come in at between 3 and 5 per cent. The province only requires something, but doesn’t set a number. Compliance will be monitored by the Financial Services Commission of Ontario, the provincial regulator. As always, pay attention to the fine print. The discounts will likely not apply to the entire policy, just part of it. For example, Aviva Insurance has offered winter tire discounts since March, 2014, says spokesman Glenn Cooper. For Aviva, safer driving means fewer accidents, fewer claims, higher profits and lower prices for its customers. Aviva’s discount is 5 per cent of the collision portion of the policy, which is about 90 per cent of the total cost. So 4.5 per cent is the overall reduction. TD Insurance is calculating its reduction the same way. The discount is also made per car. So if one of yours has snow tires and the other doesn’t, cut the discount in half.
Edited by furball (10/27/15 08:42 AM)
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#8417233 - 10/27/15 08:31 AM
Re: Discounted insurance with winter tires
[Re: c2k]
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Choco 'Nuck
Proud Member of BLM
Post Master Supreme
Registered: 07/10/01
Posts: 17568
Loc: Somewhere out there
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Look at the 5% discount we offer on your insurance, don't look at the double taxation that we are going eff you over with using our other hand.
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#8417256 - 10/27/15 08:42 AM
Re: Discounted insurance with winter tires
[Re: phoenixrage]
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furball
Post Master Sr
Registered: 09/24/03
Posts: 9491
Loc: Toronto, ON
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It's a poorly-written article, implying that it's a great idea to get winter tires, BUT .... long payback. Doesn't mention either the 'savings' with having 2 sets of tires, and the offset costs of swapping, storage, rims, etc... oh and those fucking TPMS sensors...
Edited by furball (10/27/15 08:43 AM)
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#8417362 - 10/27/15 09:39 AM
Re: Discounted insurance with winter tires
[Re: TheRealCSnapper]
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markw
Post Master Supreme
Registered: 01/31/00
Posts: 13980
Loc: Not Toronto
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if you're getting winter tires for money savings you're a fucking idiot and should be publicly stoned to death.
Wow. Tell us how you really feel...
There are worse things than people getting winter tires for the insurance savings.. at least it's another car on the road with proper tires.
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Team Q.W. ftw
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#8417556 - 10/27/15 10:59 AM
Re: Discounted insurance with winter tires
[Re: markw]
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TheRealCSnapper
Post Master Supreme
Registered: 12/05/02
Posts: 31956
Loc: Toronto, Canada
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if you're getting winter tires for money savings you're a fucking idiot and should be publicly stoned to death. Wow. Tell us how you really feel... There are worse things than people getting winter tires for the insurance savings.. at least it's another car on the road with proper tires.
sorry, on my period.
insurance "savings" should be a small fringe benefit of getting winter tires, the primary reason to get them should be for safety, extra control, extended tire life on your other set etc
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#8419483 - 10/28/15 10:46 AM
Re: Discounted insurance with winter tires
[Re: TheRealCSnapper]
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Just A Troll
Curved Street Thug Life
Post Master
Registered: 09/24/09
Posts: 2221
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if you're getting winter tires for money savings you're a fucking idiot and should be publicly stoned to death. Wow. Tell us how you really feel... There are worse things than people getting winter tires for the insurance savings.. at least it's another car on the road with proper tires. sorry, on my period. insurance "savings" should be a small fringe benefit of getting winter tires, the primary reason to get them should be for safety, extra control, extended tire life on your other set etc
The "insurance savings" is just an incentive. Insurance industry actuaries have figured out long ago that even with incentive payouts, the proven reduction in accidents with winter tires increases their profits.
We really should have mandatory winter tires in this province since every single road in Ontario will have snow on it at some point or another during winter.
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I don't need to use this space to show off my car or my camera gear.
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#8419523 - 10/28/15 11:00 AM
Re: Discounted insurance with winter tires
[Re: Hatorade]
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Just A Troll
Curved Street Thug Life
Post Master
Registered: 09/24/09
Posts: 2221
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Might as well make AWD mandatory while you're at it.
Like making ABS mandatory on all cars? Perhaps but i don't think it's been proven that AWD is as effective as winter tires.
In snow storms I've often seen AWD SUVs in the ditch while i just went by in my FWD civic with Winters.
Even with my new AWD RDX coming in next week, I'm still going to put winter tires on it.
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I don't need to use this space to show off my car or my camera gear.
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#8419538 - 10/28/15 11:03 AM
Re: Discounted insurance with winter tires
[Re: phoenixrage]
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Just A Troll
Curved Street Thug Life
Post Master
Registered: 09/24/09
Posts: 2221
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if more people crash, they will need to buy replacement vehicles, which means tax dollars, and depending on the brand, means job security for the people making the cars... and their insurance rates also go up... so more tax dollars and keeps the insurance industry going.
That is the dumbest comment I've read in a long time!
I'm hoping you just forgot to put a /sarcasm in there somewhere.
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I don't need to use this space to show off my car or my camera gear.
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#8419800 - 10/28/15 01:05 PM
Re: Discounted insurance with winter tires
[Re: Just A Troll]
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phoenixrage
Post Master Supreme
Registered: 01/15/08
Posts: 50785
Loc: People's Republic of Ontario
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if more people crash, they will need to buy replacement vehicles, which means tax dollars, and depending on the brand, means job security for the people making the cars... and their insurance rates also go up... so more tax dollars and keeps the insurance industry going. That is the dumbest comment I've read in a long time! I'm hoping you just forgot to put a /sarcasm in there somewhere.
Don't be so naive.
look at all the fucktards with licenses? I have a friend who works at a drive test facility and was told not to fail so many people. If we had harder driver tests that actually tested people properly, 60-70% of the people in the GTA would fail instantly upon re-test. That would mean more people for public transit, but less cars on the road, and less gas consumption. So therefore less tax dollars up front.
There is a HUGE conflict of interest when it comes to the government being involved in the automotive industry and public transit.
There is no incentive for the government to have less drivers on the road.
Why is it when automakers threaten to move the production else where the government without hesitation forks over tax dollars to keep them around?.. yet when we need money for subways and other mass transit infrastructure they pull their pockets out like they're flat ass broke?
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Don't question things, everything is good the way it is and no improvements or suggestions needed.
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#8440254 - 11/13/15 07:20 PM
Re: Discounted insurance with winter tires
[Re: iamfob]
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titty sprinkles
Post Master Supreme
Registered: 08/22/05
Posts: 17229
Loc: Toronto,Ontario
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Might as well make AWD mandatory while you're at it. My last manager has a GMC Terrain AWD. She said her mechanic told her do NOT buy winter tires as her car comes standard AWD and doesn't need it That mechanic should lose his license for saying that to all his customers
mechanic? last year on CP24 the opp commissioner or something fully said that you don't need winter tires with a 4wd car and that his 4wd whatever gm truck never slipped in the snow. i wanted to call and ask him if he was srs.
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2019 TLX Aspec
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#8440543 - 11/14/15 07:19 AM
Re: Discounted insurance with winter tires
[Re: SiZ]
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c2k
Post Master Supreme
Registered: 05/21/00
Posts: 19294
Loc: Wiesloch-Walldorf, Germany
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If anybody wrecks their car this winter, please buy a Rav.
are the ravs being made at your factory?
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Who cares
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#8440621 - 11/14/15 11:39 AM
Re: Discounted insurance with winter tires
[Re: titty sprinkles]
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iamfob
Post Master Supreme
Registered: 09/06/02
Posts: 24698
Loc: Out There
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Might as well make AWD mandatory while you're at it. My last manager has a GMC Terrain AWD. She said her mechanic told her do NOT buy winter tires as her car comes standard AWD and doesn't need it That mechanic should lose his license for saying that to all his customers mechanic? last year on CP24 the opp commissioner or something fully said that you don't need winter tires with a 4wd car and that his 4wd whatever gm truck never slipped in the snow. i wanted to call and ask him if he was srs. Was it the Auto show on Sunday night?
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FTMFW!!!
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#8441445 - 11/15/15 10:04 AM
Re: Discounted insurance with winter tires
[Re: titty sprinkles]
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Just A Troll
Curved Street Thug Life
Post Master
Registered: 09/24/09
Posts: 2221
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Might as well make AWD mandatory while you're at it. My last manager has a GMC Terrain AWD. She said her mechanic told her do NOT buy winter tires as her car comes standard AWD and doesn't need it That mechanic should lose his license for saying that to all his customers mechanic? last year on CP24 the opp commissioner or something fully said that you don't need winter tires with a 4wd car and that his 4wd whatever gm truck never slipped in the snow. i wanted to call and ask him if he was srs.
Clearly he didn't see this video: https://www.youtube.com/watch?v=7l2cMlNRX_A
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I don't need to use this space to show off my car or my camera gear.
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#8442169 - 11/16/15 08:41 AM
Re: Discounted insurance with winter tires
[Re: titty sprinkles]
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Screamin Type ARGH!
High Value Poster
Post Master Supreme
Registered: 02/20/01
Posts: 47739
Loc: T.O. - Canaduh
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Might as well make AWD mandatory while you're at it. My last manager has a GMC Terrain AWD. She said her mechanic told her do NOT buy winter tires as her car comes standard AWD and doesn't need it That mechanic should lose his license for saying that to all his customers mechanic? last year on CP24 the opp commissioner or something fully said that you don't need winter tires with a 4wd car and that his 4wd whatever gm truck never slipped in the snow. i wanted to call and ask him if he was srs.
Fair enough but given the base quote it could be taken out of context as most ppl will do. I can see what he means to say if her car is brand new with stock all seasons...but he should NOT give that 'reason' re. not need them...that's stupid advice.
The way I see it Toronto isn't a die-hard must have area to "need" winters (at least for drivers that know what the heck they're doing). I've rarely used winters over the years and have never had any major issues (knock on wood). Mind you my drivers have become much shorter over the years lol, this includes fwd and awd cars.
We have an awd crv now and the wifey is fine with it in the snow as she was with her fwd civics with all-seasons (new)...just drive properly for the most part (in the GTA) and you're fine most of the time, esp on main roads I've found. The one bad spot is usually leaving your driveway/street if unplowed when you're on all season or if you come in from further north (sometimes even east of west).
But still even good drivers but moreso for the shitty ones, it'd be nice to see more of them on winters regardless of reasoning. I'm enjoying the all-weathers I use now on the R which are cert'd for snow and do a much improved job over all-seasons. A true winter though does outdo even these.
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"Ban low performance drivers, not high performance cars"
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#8513590 - 01/13/16 09:51 AM
Re: Discounted insurance with winter tires
[Re: Big Tasty]
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The Postman
A-List Member also The Man
Post Master Sr
Registered: 02/13/02
Posts: 5005
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Just got the renewal for the RDX and it went way down from the Genesis. $105 mth vs $145mth.
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#8513835 - 01/13/16 11:46 AM
Re: Discounted insurance with winter tires
[Re: The Postman]
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furball
Post Master Sr
Registered: 09/24/03
Posts: 9491
Loc: Toronto, ON
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http://www.thestar.com/business/personal...get-mayers.html
The catch is that while the discount must be introduced in 2016, insurers can choose when. They can give it to you mid-policy if you ask, or only when you renew. For example, the two big bank-owned insurers, TD Insurance Meloche Monnex and RBC Insurance, are among those requiring you to wait for a policy renewal. Quebec-based Desjardins Insurance, Aviva Canada and Aviva’s affiliates such as Scottish & York (my insurer) are among those that allow you to get the discount mid-policy. Intact and CAA Insurance are also in this group; most of them have offered the discount for some time. They see snow tires as a benefit for all parties. The discount shaves a little off the cost of their policies, but the tires mean fewer accidents and injuries. Fewer claims mean lower premiums. You’ll save about $72 a year per vehicle, based on the average $1,600 a year it costs to insure a car in Ontario. The discount is usually 5 per cent of the collision portion of your policy, which is about 90 per cent of the total.
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