Kanetix Forum

Im an 18 year old male i have a spotless driving record so do my parents i was on my parents insurance for a year ive been driving for 3 years and when i go to get my insurance they want me to pay from anywhere from 400 too 700 dollars a month, for a little piece a crap car, and they telll u late 80's early 90's ford p/u is the cheapest well not for me. soo who agrees that they should lower our insurance and only raise when we do something wrong?

the insurance companies have always gouged teenage drivers. I was a teenager in the 50's and 60's and we were paying three and four times the amounts that our parents were for basic coverage, no collision.
The ONLY justification (not that it was ever offered ) was the fact that we drove a lot further every year than other age groups. That was probably true then, but I doubt it is now.

The main reason why prices in Ontario are so high is because of Accident benefits and liability premiums. A smaller portion of your total premium goes to cover your actual vehicle. The coverages are very extensive and unfortunately other drivers use them a lot, whether fraudulently or not. Unfortunately male drivers under 25 are the riskiest drivers on the roads so you've been lumped into a group with higher pricing. When you leave this age bracket - you will notice a change in your premiums.

Sean Graham, Principal Broker at KTX Insurance Brokers