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Old 08-23-2001, 12:08 PM   #1
AllWheelDrift
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Member#: 9191
Join Date: Aug 2001
Location: Vancouver, BC
Vehicle:
2002 Impreza 2.5TS
Blue Ridge Pearl

Default Insurance cost too high?

Insurance on my new TS seems rather high.

$2 Million Liability
$200 Collision
$100 Comp.

Insured for part way to and from work/school and pleasure use.

$1800 AFTER 40% disount!

Does this seem right? If so, what does it cost to insure a WRX?
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Old 08-23-2001, 12:35 PM   #2
GTBGUY
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Member#: 2003
Join Date: Aug 2000
Location: Calgary, Alberta, Canada
Vehicle:
'99 BGP Legacy GT
'98 QS Legacy L (auto)

Default

AllWheelDrift - first off how old are you? Let's put it this way. I'm 21, and clean record etc. The cheapest insurance I can get in Calgary is through State Farm. It'd be $400 cheaper a year for me to insure a brand new IS300 than it is the WRX.

The WRX would cost $3300CAD/ year (this is with good student discount, driver training, no accidents or tickets)

A '98 RS would cost $2300CAD / year (as above)

And that's with :

1 milllion liability
Full coverage.
$500 deductable

Consider yourself lucky! ICBC and Sask. Insurance are dirt cheap!
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Old 08-23-2001, 01:36 PM   #3
Hoth
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my insurance

$1 million
collision, lot of options i cant even remember them right now


ends up bout $2400 a year (no deductable)

BTW this is for my '02 WRX
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Old 08-23-2001, 01:37 PM   #4
AllWheelDrift
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Member#: 9191
Join Date: Aug 2001
Location: Vancouver, BC
Vehicle:
2002 Impreza 2.5TS
Blue Ridge Pearl

Default

I'm 24, driving for 6 years, with a clean record. (One excessive speeding ticket but it was disputed.) I was taught by Young Drivers of Canada etc. but ICBC doesn't care.

Age also doesn't affect rates with ICBC. 40% discount is the max anyone can get. (Well, you can score a few more % after being claim free for 9 years or more, so lowest rate is probably about 6% less than what I'm paying.)

I'm not really complaining that it's high for me, it just seems high for a car in this class, especially with all the safety features.

It cost me about $1300/year to insure a 1986 Audi 5000 Turbo Quattro, though only 1 mill liability, and $500 deductable collision, so maybe $500 more isn't way out of line.
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Old 08-23-2001, 02:09 PM   #5
Ken
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Join Date: Jun 1999
Chapter/Region: VIC
Location: Richmond, BC Canada
Vehicle:
2005 WRX STi
World Rally Blue

Default

If you can insure part way for work/pleasure use, then I think that is part of the reason why your insurance is so high. Mine is primarily for work within 15km. of my home, and it used to be $1400 with 40% off and the same coverage as yours.
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Old 08-23-2001, 10:35 PM   #6
bender
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Join Date: Jul 2000
Chapter/Region: VIC
Location: at home
Default

I think your age might have something to do with it.
just got my renewal notice today for my 2000 2.5 RS:
basic coverage $630
third party 2MIL $139
collision 300deduct $307
comprehensive 100 deduct $262
roadstar $15
replacement coverage $150
licence fee $52
total $1556*


*43% discount included
no at fault accident in 12 years


In think thats about the average cost
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Old 08-23-2001, 11:51 PM   #7
AllWheelDrift
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Join Date: Aug 2001
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2002 Impreza 2.5TS
Blue Ridge Pearl

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OK, I just looked at my breakdown (after 40% discount)

Basic Coverage: $663
Third Party 2MIL: $175
Collision 200 deduct: $520
Comprehensive 100 deduct: $330
Special Coverage APV297A Collision: $62
Limited Depreciation (Model YR#1) Comprehensive: $43

Licence Fee: $53
New Plate Fee: $18
Registration Fee: $18

I didn't realize I had Limited Depreciation (wasn't asked, but would have said yes). Anyone know what APV297A is? I'm thinking maybe I should increase the collision deductable if I want to save a bit.

Bender:

I think you're getting a 49% discount on your optional coverage, based on 12 years safe driving.
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Old 08-24-2001, 05:34 AM   #8
GS116
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Location: Richmond, BC
Default

Just got my renewal notice for my 02TS.

Basic - $731
3rd party $2 million - $195
Collision $200 deduct. (group 12) - $324
Comprehensive $100 deduct. (group 15) - $308
licence fee - $53
Total cost - $1611 with 40% and $29 additional saving.

I'm 25 w/ 6 years driving record with 1 single car accident (50/50 with ICBC), copule speeding tickets.

For the limited depreciation coverage, I got it through other insurance company, $120~ for 3 years. The best thing for this company over ICBC is, they even pay the tax, and ICBC will make you pay the tax.

Fred
(The other BRP TS wagon around Coquitlam area)
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Old 08-24-2001, 07:23 AM   #9
holam
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Member#: 8878
Join Date: Aug 2001
Location: Vancouver, BC
Vehicle:
98 wagon white
99 2.5RS white

Default

Mine is ~$1400 for my 99 2.5RS, after 35% discount.

Btw,I got a question; what is meant by "Limited Depreciation Policy"? After my last accident, my poor wagon was total loss, but ICBC paid me very well, of course I didn't ask them,"hey, u guys paid me so well, did you miscalculate?" But I think it's because of the Limited Depreciation Policy. I wonder is it an option I can get for any car I insure?

Thanks!
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Old 08-24-2001, 09:49 AM   #10
jackwei
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Chapter/Region: SWIC
Location: Cupertino, CA
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when you total a car, they pay the the market value for the car, but if you have limited depreciation, they pay u MORE. but you can only get it for the first three years in your car's life.
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Old 08-24-2001, 11:36 AM   #11
AllWheelDrift
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Member#: 9191
Join Date: Aug 2001
Location: Vancouver, BC
Vehicle:
2002 Impreza 2.5TS
Blue Ridge Pearl

Default

Hmm... So it looks like they might have put me in the wrong group for collision and comp. I'm in 16 which is what the WRX guys are in also. Fred has the same car and is in 12 and 15 respectively. I'm going to call up ICBC to see what's going on...

1496 km until it's play time. (I need to drive more!)
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Old 08-24-2001, 12:57 PM   #12
tora
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Chapter/Region: VIC
Location: Vancouver
Vehicle:
09 Forester XT
+ NA Miata

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I paid 600$ per year less in Victoria than I did in Vancouver. The reason insurance in general is high is because of auto theft and fraudulant claims. (Donn could give you more reasons I'm sure). As for our class of car being costly, go figure, look who is driving them. A bunch of punk kids like we impreza club folk. We are more likely to have accidents than the mini van crew so our insurance is higher. As for Alberta, they have private insurance so they can give higher insurance rates to groups and cars that are more likely to need it. Kids driving fast cars (males) have the highest insurance whereas if you are a careful young girl with mommy wagon you can probably only pay a few hundred per year.
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Old 08-24-2001, 08:59 PM   #13
AllWheelDrift
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Member#: 9191
Join Date: Aug 2001
Location: Vancouver, BC
Vehicle:
2002 Impreza 2.5TS
Blue Ridge Pearl

Default

I went to a local insurance agent, and it turns out the agent at the dealer screwed up. I was paying the WRX rates.

Hmmm, does that mean if I total it they replace it with a WRX? j/k

Now I get a $287 refund and things look like this.

Base: $663
3rd Party 2Mil: $175
Collision 200 deduct (group 12): $318
Comprehensive 100 deduct (group 15): $295
Limited Depreciation Collision: $20
Limited Depreciation Comprehensive: $32

Total: $1503 (no licence fees this time)

Apparently the agents that travel to dealers often work on commission, so be careful.
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Old 08-27-2001, 10:36 AM   #14
Dai
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Location: Burnaby, BC
Default

An APV297A is the Limited Depreciation Coverage.

If you're a RoadStar, you can buy Replacement Cost Coverage which is better than the Ltd Dep Coverage.
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