Posted on: 07-01-09 19:17:40
Quote:If you can get written letter of insurance coverage or even insurance payment proof from your original country, a lot of insurance companies accept that as proof of previous insurance.
Originally posted by i_luv_canada
The bad news is that Insurance companies see that no Insurance premium payments records exist prior to the year and 2 months I have been paying.
So, its a catch 22 situation !!
And if the insurance company in your previous country is a major global company, then all the better.
When shopping for insurance, just tell them you have proof of previous insurance and how long you were with that company.
A lot of insurance companies may accept that proof and give you a discount for that.
Quote:Yes, they do that a lot.
And by the way, I am a client of State Farm and shopping around only because they deemed it appropriate to increase my premium after completing 1 year of no-claim, no tickets with them!!!
Sometimes, insurance companies will increase premiums of good drivers to make up for unexpected number of claims made by bad drivers.
State Farm severely penalizes even the slightest blemish on a driving record, almost to the point that the customer is forced to shop around and switch (as you are doing now).
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
I finally did it !!!!
After much research, I was able to contact an Insurance Broker who gave me a considerable discount on my car insurance ( good insurance company, the more customers, the cheaper it gets).
Then, SURPRISE !!!!!
Armed with this info. I go back to my Auto Insurance company and lo and behold !! THEY MATCHED THE OFFER I HAD COME WITH !!!
So, its a win-win situation for me.
Moral of the Story - It pays to shop around !!!
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When the going gets tough, the tough gets going!!!
Quote:
Originally posted by i_luv_canada
I finally did it !!!!
After much research, I was able to contact an Insurance Broker who gave me a considerable discount on my car insurance ( good insurance company, the more customers, the cheaper it gets).
Then, SURPRISE !!!!!
Armed with this info. I go back to my Auto Insurance company and lo and behold !! THEY MATCHED THE OFFER I HAD COME WITH !!!
So, its a win-win situation for me.
Moral of the Story - It pays to shop around !!!
Good for you.
However, I feel 'morally' you should go with the company the insurance broker got you the most discount with and NOT with your original insurance company as they DID NOT offer you the rates to start with and the insurance broker worked to get you the discounted rates and hence should be rewarded with your business.
Just my 2 cents.
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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada
Yeah, I agree - dump your current insurer.
If they were in a position to offer lower rates, they were simply ripping you off.
A few years ago, my auto insurer increases rates dramatically and now they have one less customer.
On the other hand, my current insurer has been steadily reducing rates by a little bit each year so they still have my account.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
Quote:
Originally posted by pratickm
Yeah, I agree - dump your current insurer.
Can you do that without penalty? I think you loose one month premium.
ILC ,
Could you share the details of the company which gave you best rates ... either on the Forum - or through PM .
Could you also recommend some other Insurance companies as well - we could benefit from your research .
Other CDs as well ~
My Insurance is due March end and I have a G2 - though I have 15+ Indian driving experience , I did not utilize it last year ...... Can I give up my G2 now and try and utilize my Indian driving experience towards getting a G ?
Lastly , how easy / difficult is it to get a letter from the Indian Embassy endorsing your driving experience in India ?? Has anyone tried and how much time did they take ??
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Fido.
Quote:You can do the switch during renewal time.
Originally posted by rsbagwell
Can you do that without penalty? I think you loose one month premium.
Simply don't renew with the old company and take insurance from the new company.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
