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Romanov Report 39 – May 10, 2006

May 10, 2006

Accidents Happen

Sometimes accidents just can’t be helped, but in  other cases they can be prevented.

According to a CNN report, below are things drivers do that cause car crashes:

Drowsiness – 22.2% of crashes

Dialing hand-held-devices – 3.6%

Talking or listening  to hand-held device – 3.6%

Reading – 2.9%

Eating -  2.2%

Applying makeup – 1.4%

Reaching for object  - 2.3%

Looking at external object – 0.9%

Insect in vehicle – 0.4%


Don’t Be Afraid To Look For A Better Rate After An Accident

Be Fearless: Many drivers are “afraid” to switch insurance companies to get a lower rate, after an accident, mainly because they don’t think any other company will want them.  They’re wrong.

No matter if you have a perfectly clean driving record, or a spotty one, insurance companies target their rates for different profiles.  Look at these 2 “shocking” rate examples by the government

(scroll down).

Clean Record vs. A Ticket & Accident

The purpose   of insurance is to put   you back in the place you were in before the loss. Unfortunately, that doesn’t include your insurance rate  after an accident. Insurance company rates for the same car and driver can be $1,000′s of dollars apart and rates  can change  up to 4 times a year. It’s impossible, without a rate guide,  for  drivers to find the insurance company with the best rates for them at any given time.

Rate Alert:

When you do a rate search on www.InsuranceHotline.com, and get a quote, you can opt in to our Rate Alert service  that will re-run your quote  automatically every few months  to keep you informed of the changing  prices.
InsuranceHotline.com automatically shops the top 30 Canadian  insurance company rates, for the 3 lowest prices.

Look at these 2  Rate  Examples: The  Ontario government  published these rate comparisons  to
encourage drivers  to shop  before they renew their car  insurance. Look at the vast  rate differences  between  52  insurance companies for  a:

1) driver with  a  clean record.

2) driver  with  a ticket and accident.

Keep In Mind: Each  rate comparison used the same driver, car and policy coverages. If you look at the first example of a driver with a clean record, in Toronto, 56 companies quoted 56  different rates. Changing the postal code produced 448 vastly different quotes for the same car and driver.

Example 1: Toronto Driver Profile – Driver, Clean Record


For Toronto:   $970



It is critical to note that  if one variable changes like the age, car model or postal code, and so forth, company position   and rates change drastically. Look at AXA, for instance, for a Toronto postal code the rate is $1,521, for Ottawa it drops to $936.


Note: Some of these companies  listed don’t sell to the public. They only sell through  specialized groups and employee company plans.



Example 2: Toronto Driver Profiles – Driver, 1 ticket & accident


Lowest For Toronto:   $2,051

Highest ForToronto: $17,468

The amount the insurance  company pays for the accident  claim does NOT affect the amount by which the insurance company will increase your rate.


In this example if the  driver were with Citadel General Assurance Company, their rate would be $8,497, yet other companies’ rates are less by half. So why
wouldn’t you switch? And with a  different driver’s  profile
Citadel General Assurance
could be the best rated  company.


Note: Some of these companies listed don’t sell to the public. They only sell through specialized groups and employee company plans.