2005 Guide To Insurance Rates In Ontario
This
guide to insurance rates compares the 2005 rates of the top insurance companies
in Canada to the government’s 1995 guide to insurance rates.
The
rate guide is broken down in to various city areas; Brockville, Hamilton,
London, North Bay, Ottawa,Thunder Bay and Toronto.
The
rates used were from the insurance companies representing 80% of the written
premium in Canada. 30 of the leading Canadian insurance company rates were used
for the 2005 guide and 23 insurance company rates were used in the 1995 guide.
The
rate comparison chart can be viewed by, clicking here.
The
guide shows the lowest to the highest rates calculated. Below are the
profiles used to calculate the rates. Some profiles were changed slightly to
reflect the today’s cars and coverages.
Profile
1: Young Female,
click
here for the rate comparison.
Description
used for the 1995 Rate Guide
Age
23, licensed 6 years, currently class G, without drivers training. 1 chargeable
accident within the last year. 1 minor conviction in the last 3 years. Drive to
work 8 km one-way, annual mileage under 16,000 km. Continuously insured for the
last 6 years. Driving a 1990 Dodge
Shadow 4/5 door.
Description
change for the 2005 Rate Guide
Used
a 2000 Chrysler Neon 4 door (Dodge Shadows no longer made and Chrysler and Dodge
- same manufacturer).
Coverages
used
for the 1995 Rate Guide
Liability:
$500,000
Collision
Deductible: $250
Comprehensive
Deductible: $250
Coverages
change for
the 2005 Rate Guide
Liability:
$1,000,000
Collision
Deductible: $1,000
Comprehensive
Deductible: $1,000
Profile
2: Young Male,
click
here for the rate comparison.
Description
used for the 1995 Rate Guide
Age
21, licensed 5 years, currently class G, without drivers training. No chargeable
accident within the last 5 years. 3 minor convictions in the last 3 years. Drive
to work 5 km one-way, annual mileage under 12,000 km. Continuously insured for
the last 6 years. Driving a 1989
Chevrolet Cavalier 4 door.
Description
Change for the 2005 Rate Guide
Driving
a 1999 Chevrolet Cavalier 4 door.
Coverages
change
for the 1995 Rate Guide
Liability:
$500,000
Collision
Deductible: $250
Comprehensive
Deductible: $250
Coverages
change for
the 2005 Rate Guide
Liability:
$1,000,000
Collision
Deductible: $500
Comprehensive
Deductible: $500
Profile
3: Married Couple,
click
here for the rate comparison.
Description
used for the 1995 Rate Guide
Husband:
Age 40, licensed 24 years, Class G license. No chargeable accidents or
convictions in the last 5 years. Drive to work 10 km one-way, annual mileage
under 16,000 km. Continuously insured for the last 6 years.
Driving a 1995 Grand Cherokee Limited 4WD.
Wife:
Age 39, licensed 20 years, Class G license. No chargeable accidents or
convictions in the last 5 years. Drive to work 20 km one-way, annual mileage
under 20,000 km. Continuously insured for the last 6 years.
Driving a 1995 Dodge Neon 4 door Highline.
Description
Change for the 2005 Rate Guide
Driving
a 2005 Grand Cherokee Limited 4WD.
Driving
a 2005 Dodge Neon 4 door Highline.
Coverages
change
for the 1995 Rate Guide
Liability:
$1,000,000
Collision
Deductible: $250
Comprehensive
Deductible: $100
Coverages
change for
the 2005 Rate Guide
Liability:
$1,000,000
Collision
Deductible: $500
Comprehensive
Deductible: $300
Profile
4: Single Parent and Son,
click
here for the rate comparison.
Description
used for the 1995 Rate Guide
Adult:
Age 40, licensed 20 years, Class G license (principal operator). No
chargeable
accidents or convictions in the last 10 years. Drive to work 10 km one-way,
annual mileage under 16,000 km. Continuously insured for the last 10 years.
Driving a 1990 Chevrolet Corsica 4 door.
Single
Male: Age 18 (occasional driver), licensed 2 years: 1 year G1, 1 year G2,
newly licensed as
G. No chargeable accidents or convictions since licensed.
Description
Change for the 2005 Rate Guide
Used
a 2000 Cavalier LS 4 door (very similar vehicle type).
Coverages
change
for the 1995 Rate Guide
Liability:
$1,000,000
Collision
Deductible: $250
Comprehensive
Deductible: $100
Coverages
change for
the 2005 Rate Guide
Liability:
$1,000,000
Collision
Deductible: $500
Comprehensive
Deductible: $300
Profile
5: Married Couple with Son and Daughter,
click
here for the rate comparison.
Description
used for the 1995 Rate Guide
Husband:
Age 45, licensed 25 years, Class G license (principal operator). No
chargeable
accidents or convictions in the last 10 years. Drive to work 50 km one-way,
annual mileage under 40,000 km. Continuously insured for the last 10 years.
Driving a 1993 Honda Accord EX ( i ) 4 door.
Single
Male: Age 19 (occasional driver), licensed 3 years with driver’s training. 1
year G1, 2 years G2, newly licensed as G. Continuously insured since licensed.
Wife:
Age 40, licensed 20 years, Class G license (principal operator). No
chargeable
accidents or convictions in the last 6 years. Pleasure use only, annual mileage
under 10,000 km. Continuously insured for the last 6 years.
Driving a 1991 Plymouth Voyager.
Single
Female: Age 22 (occasional driver), licensed 2 years, with out driver’s
training. 1 year G1, 1 year G2, newly licensed as G. No chargeable accidents or
convictions since licensed.
Description
Change for the 2005 Rate Guide
Driving
a 2003 Honda Accord EX ( i ) 4 door.
Driving
a 2001 Plymouth Voyager.
Coverages
change
for the 1995 Rate Guide
Liability:
$1,000,000
Collision
Deductible: $250
Comprehensive
Deductible: $100
Coverages
change for
the 2005 Rate Guide
Liability:
$1,000,000
Collision
Deductible: $500
Comprehensive
Deductible: $300
Profile
6: Senior,
click
here for the rate comparison.
Description
used for the 1995 Rate Guide
Adult:
Age 70, licensed 50 years, Class G license. No chargeable accidents or
convictions in the last 10 years. Pleasure use only, annual mileage under 10,000
km. Continuously insured for the last 10 years.
Driving a 1993 Chevrolet Caprice Classic 4 door.
Description
Change for the 2005 Rate Guide
Driving
a 2003 Chevrolet Caprice Classic 4 door.
Coverages
change
for the 1995 Rate Guide
Liability:
$1,000,000
Collision
Deductible: $250
Comprehensive
Deductible: $100
Coverages
change for
the 2005 Rate Guide
Liability:
$1,000,000
Collision
Deductible: $500
Comprehensive
Deductible: $300
