Car insurance companies for a 24 year old?

Discussion in 'Canadian Trip Planning & Community Board' started by TimNDansMom, Aug 29, 2011.

  1. TimNDansMom

    TimNDansMom <font color=red>Enjoys a leisurely lunch<br><font

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    DS24 is starting to look around for car insurance. We are hoping he waits until he is 25 and has saved more money but he says he needs a vehicle. He currently lives in Hamilton.

    Any suggested insurance companies for someone his age?
     
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  3. Ted in Halifax

    Ted in Halifax Over a 2,000 mile drive from Disney!

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    My 21 year old son ... has insurance through TD. Pays $600 per year. Not bad .... for simple liability for a young guy.
     
  4. TimNDansMom

    TimNDansMom <font color=red>Enjoys a leisurely lunch<br><font

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    My son says he's looking into taking over a 2009 or 2010 lease, so he'd need more than liability unfortunately. TD, his bank, quoted him $260/month!
     
  5. Daisy-J&D

    Daisy-J&D DIS Veteran

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    When I was looking a couple of years ago I was a new driver over age 25 and the bank quotes were INSANE. I mean, I couldn't even believe it. I think RBC wanted close to $400/month.
    I ended up using Dalton Timmis Insurance Group which is in Ancaster and they got me a good rate with Aviva.
     
  6. Daisy-J&D

    Daisy-J&D DIS Veteran

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    BTW, I was living in Toronto at the time which accounts for the high rate... but STILL. My Aviva rate was less than half.
     
  7. corster

    corster Mouseketeer

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    TD, Belair Direct, or Desjardins General are the three insurance companies most people I know in my age group are with.
     
  8. networktek

    networktek it all started with a mouse

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    we switched from statefarm to TD and they saved us hundreds on our car and house insurance and if you are part of a university or graduate you also get more of a discount
     
  9. ferris198

    ferris198 DIS Veteran

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    Try kanetix.ca they will give him approximate quotes.
    Also too try a broker for a quote.
    IF he takes higher deductibles that may help somewhat
     
  10. MedicGoofy

    MedicGoofy DIS Veteran

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    I second AVIVA. We use them for work so I do get a discount. I have used them for years now. I use a subgroup called Northcity Insurance.

    http://www.northcity.ca/

    They are the leading insurance groups for ambulance fleet, and with that I get family and friends discount. I have probably been with them for 6 years. I started at $130 a month, I am currently at $100 a month. It's a phenominal rate. They are VERY competitive compared to other insurance companies. I have a low deductable as well.

    Give them a look. Hope it helps:)
     
  11. ferris198

    ferris198 DIS Veteran

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    Aviva does have good rates but you will need to go through a broker as they are an insurance company not a direct writer.
     
  12. damo

    damo Proud Redhead

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    If he went to University, they have good rates. The rates through Western and McMaster were the best that we could find.
     
  13. tone.def

    tone.def <font color=red>My Mommy told me I look pretty all

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    I've dealt with State Farm since I was a teenager. Rates dropped at my 25th birthday and my 30th birthday. Getting married, having children helped too. No tickets. Now we also get the discount for home insurance and camper and rental properties... It pays to build a relationship :goodvibes
     
  14. MedicGoofy

    MedicGoofy DIS Veteran

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    If NorthCity would be a broker.....if not, then I don't use a broker for AVIVA. I go through North City but my Insurance is technically AVIVA.
     
  15. mom_rules

    mom_rules <font color=FF66FF>LOVES the Yachtsmen!<br><font c

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    For an under 25 yr old male we found Wawanesa to be excellent-Our son pays $2600 per year.

    Economical Mutual was second.
     
  16. ferris198

    ferris198 DIS Veteran

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    North CIty is a broker for AVIVA through their Traders Division.
    I worked at AVIVA for over 10 years.
     
  17. sjsjbrook

    sjsjbrook DIS Veteran

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    I would check with an insurance broker. They compare the companies and will give you the best price. They also will not work with a company that requires a credit check to be insured ( Aviva formally pilot does that now, they base your rate on a credit check).
     
  18. ferris198

    ferris198 DIS Veteran

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    AVIVA is not formerly Pilot. Aviva bought the parent company of Pilot years ago Pilot is/was a subdivison of Aviva.
    Secondly very few companies use credit rating as a basis for auto insurance.
     
  19. TimNDansMom

    TimNDansMom <font color=red>Enjoys a leisurely lunch<br><font

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    Thanks for all the great suggestions! :goodvibes
     
  20. wendyt_ca

    wendyt_ca DIS Veteran

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    I work for TD Insurance as an analyst for customers in Ontario. They are a great company and you can get some great rates if you have no accident history. I just don't recommend getting a Civic as Honda's and Acura's are some of the most expensive.
     
  21. fnkyyellow

    fnkyyellow Harry Potter fanatic

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    I am a broker. No auto insurance companies in Ontario are allowed to credit score since the new auto reform came in on September 1, 2010. It's true, Aviva was credit scoring, had a 3 tiered company, but that's a LONG story.

    Your son should be able to get a good rate if he uses the same provider as you, so that he can get multi car discount and some companies will give him multi line discount. (Provided he still lives in your household).

    I'm sure he's encountered some high rates, Hamilton is really expensive compared to it's surrounding areas. It appears that Aviva may be targeting younger drivers at this time because they do have competitive rates right now. If he got his G1 @ 16 and moved through the levels to G, he should be at least a 6* driving record right now.

    PM me if you have any questions!

    Good Luck!
     

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