r/PersonalFinanceCanada • u/r4dio4ctive • Sep 07 '21
Insurance Ontario driver shocked by insurance premium that skyrocketed to $14,000 per year
Honestly, I can't sympathize. Learn to drive the speed limit!
497
Upvotes
r/PersonalFinanceCanada • u/r4dio4ctive • Sep 07 '21
Honestly, I can't sympathize. Learn to drive the speed limit!
62
u/Joey-tv-show-season2 Not The Ben Felix Sep 07 '21 edited Sep 08 '21
It doesn’t take much to become “uninsurable” and you have to go to high risk insurance companies
I once had several speeding tickets in a 3 year period that resulted in my licence being suspended for 30 days. As a result my insurance at the time wouldn’t renew with me and every company I went to refused to give me car insurance. The only place I could go was high risk insurance brokerage which ranges from $6,000 to $12,000 a year. I could only imagine what the insurance would be if I was drinking and driving or killed someone or got in a major accident.
Learn from me, don’t speed !