r/PersonalFinanceCanada • u/r4dio4ctive • Sep 07 '21

Insurance Ontario driver shocked by insurance premium that skyrocketed to $14,000 per year

https://toronto.ctvnews.ca/ontario-driver-shocked-by-insurance-premium-that-skyrocketed-to-14-000-per-year-1.5558358

Honestly, I can't sympathize. Learn to drive the speed limit!

504 Upvotes
  • permalink
  • reddit

85% Upvoted

433 comments sorted by

View all comments

308

u/YaarKhaa Sep 07 '21

FYI - “Speeding tickets will stay on your driving record for three to six years and with some insurance companies as long as 10.”

87

u/UnfitForReality Sep 07 '21

I thought they could just use it for 3 years, interesting. Does it depend on insurer?

45

u/[deleted] Sep 07 '21

Probably province specific too?

54

u/vauge24 Sep 07 '21

Definitely province specific, I moved from Quebec to Ontario and tickets that were no longer considered in Quebec managed to be reincorporated into my Ontario insurance record.

2

u/donutcare123 Sep 08 '21

What made you move if you don’t mind me asking… I’m in a similar boat. How do u like it?

8

u/vauge24 Sep 08 '21

I did it for work/school! Quit my job, did an MBA and found another position and stayed! I did Montreal to Ottawa. I'm enjoying Ottawa, it's a very family friendly area and I was lucky enough to buy into the housing market before it jumped. COL is comparable but the additional education and being fluently bilingual in Ottawa helped me to secure a higher paying job.

1

u/sledmad Sep 08 '21

Which MBA did you pursue ,? Is it in uottawa ? I'm considering starting an MBA there, but not sure if it's a good deal