Factory Five Racing Forum banner
1 - 9 of 9 Posts

· Registered
Joined
·
33 Posts
Discussion Starter · #1 ·
I got a letter yesterday from my broker (Zehr) informing me that they are now using a new company (Royal and Sun Alliance) instead of Echelon. I can choose to stay with Echelon if I want but if I switch to RSA my new rate will be $626 as opposed to $900+ with Echelon.

They outline a bunch of good new features with RSA with the only downside being that my collision & comprehensive deductibles wil go from $300 & $100 to $500 & $300 (care).

I have to still see all the fine print but if all is good it will be a refreshing change. Not often someone offers you a reduction out of the blue. You might want to give them a call (I'm not being paid). I'll update when I get more info.
 

· Registered
Joined
·
517 Posts
I'm also insured through Zehr and I too had my insurance premiums drop with the switch to Royal Sun Alliance.

From what I could tell there was not much difference between Echelon and RSA, except that RSA had some additional, specific usage restrictions in the declaration that Echelon didn't seem to have. Nothing too alarming given the nature of the car, except the "can't use the car on vacation" might be a concern if I were hoping to bring the car to SAAC convention or something like that.
 

· Registered
Joined
·
162 Posts
I went through American Modern’s Collector Vehicle Insurance (geico) and its $670/year with $0 deductible and unlimited annual miles. I was insured for $40,000. HTH
 

· Registered
Joined
·
33 Posts
Discussion Starter · #4 ·
I'm also insured through Zehr and I too had my insurance premiums drop with the switch to Royal Sun Alliance.

From what I could tell there was not much difference between Echelon and RSA, except that RSA had some additional, specific usage restrictions in the declaration that Echelon didn't seem to have. Nothing too alarming given the nature of the car, except the "can't use the car on vacation" might be a concern if I were hoping to bring the car to SAAC convention or something like that.
Did you ask them to clarify "Can't use car on Vacation"? That seems like a possible deal breaker depending on their definition. I haven't seen any fine print yet.
 

· Junior Charter Member
Joined
·
1,396 Posts
I wonder if there is an insurance broker for RSA in Nova Scotia? Do you know under which program RSA insures our cars?

Thanks.

Wade
 

· Snake Farmer
Joined
·
10,396 Posts
Raising deductibles like that, can save an insurance company millions every year, so it doesn't surprise me they could offer lower rates.

When I was in the business, our provincially run insurance, ICBC, did this, and I noticed claims, especially comprehensive dropped significantly. Whereas previously, a parking lot ding, shopping cart scratch type damage, was always claimed, as it only cost $100 deductible, as soon as it went to $300, people would just live with the damage, or touch it up themselves. Broken side windows from break in's, often cost just under the $300 deductible to replace, so again it comes out of the owners pocket.

In collision type of claims, most people just ate the higher deductible, or, if the damage amounted to less than $500 total, some owners again, just lived with the damage. Some of course, would pay a shop privately to get the work done. Cash deals, to avoid taxes was becoming quite popular. Bonus doing that was, there is no record of repair on your vehicle, when it came time to sell the car.

Problem with just leaving damage, or perhaps touching it up themselves (as people found out later) was, say your car was in an accident, and was damaged in the exact same area that had sustained damage previously. ICBC could and would, depreciate the repair and paint, (or part itself, if it needed replacing) because of the previous damage. The insured could then have to pay the repair shop an additional amount, to have it repaired properly.
The use of touch up paint on a scratch, was one of the easy ways that ICBC could prove the panel had sustained previous damage. Any previous collision damage left un-repaired was pretty obvious.

So a lower premium, but higher deductible, may not always be such a great deal after all..except for the insurance companies..:sad:
 

· Junior Charter Member
Joined
·
333 Posts
My car is insured through RSA via a local broker in NS. Unlimited use, 50K appraisal...$1600.00/year. Once it's too cold to drive, I can drop all but fire and theft.

RSA usually insures drunks and speeders under the Facility Insurance clause.

Peter
 

· Registered
Joined
·
33 Posts
Discussion Starter · #8 ·
Well I got more info and I'm now a little uneasy. The lower price with RSA is great but they restrict the use of the car except for basically car shows and an occasional "personal day outing".

Can't drive the car to/from work, shopping, vacations or racing. It can only be driven for hobby or collector car purposes or driving to get the car repaired.

It looks like it leaves the door wide open for a claim to be denied.

How many of you use RSA for insurance and how does that compare to your policy? Have you ever had a claim with RSA? If so, how did they treat you?
 

· Registered
Joined
·
33 Posts
Discussion Starter · #9 ·
Bump

Well I got more info and I'm now a little uneasy. The lower price with RSA is great but they restrict the use of the car except for basically car shows and an occasional "personal day outing".

Can't drive the car to/from work, shopping, vacations or racing. It can only be driven for hobby or collector car purposes or driving to get the car repaired.

It looks like it leaves the door wide open for a claim to be denied.

How many of you use RSA for insurance and how does that compare to your policy? Have you ever had a claim with RSA? If so, how did they treat you?
 
1 - 9 of 9 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top