Unless you can afford to put a few million dollars in a bond as??collateral??against any damages you may do driving, you will need auto insurance to drive in Canada. Insurance companies are private companies that make a lot of profit, yet the general public are forced to give them profits. Moreover, these insurance companies deal with each other internally to??benefit??each other, and publicly report anything they wish.
On March 1st 2006, I was involved in a car accident. At the time I had 3rd party liability as I thought that if the accident is not my fault the other party involved would be responsible for my damages (or??at-least??partly). The first thing I did was contact my insurance company, which was Royal Sun-Aliance at the time, who have basically thanked me for contacting them right away, and informed me that I would have to make a claim with the other party’s insurance company for my damages, since with 3rd party liability they don’t deal with my damages at all!
So there I am, calling TD Maloche Monex (the other party’s insurance company) and telling them the story of the accident, they write everything down and tell me to call them back later. The same phone call repeated 5-6 times, asking me what happened and asking me to call back later,??until??finally they told me that they are putting me at 100% at fault, and I would have to fix my own damages. Well, it wasn’t a pretty situation, and I felt shafted. I had to deal with a conglomerate myself, while the conglomerate that was supposed to be backing me left me to dry. Fair enough I thought. A few days later (the date now is arch 30th), a cop shows up at my door, the same cop that was at the accident site. I let him in and he sat down in our living room and told me??
“Sorry, I am here to issue you a ticket regarding the accident on March 1st,??the insurance company called us up and pressured us into issuing you this ticket.”
So now I have a ticket too :-). In any case, all was well??until??recently, four years later, where I??accidentally came across my????accident report. It turns out, the report said I am at 25% at fault! I was surprised, that information was never conveyed to me. I had thrown out all the paper work not along time ago. I called up TD Maloche Monex and got to a claims adjuster, a very nice fellow, who couldn’t find my info at all. After making a few phone calls, I managed to get my old policy number and the other party’s (the one involved in the accident) policy number. Called him back and he pulled up the records. I was??excited. After reviewing the file he stated that on the TD system I am 100% at fault, however the??adjusters??between TD and Royal Sun Aliance worked and agreed to a deal where Royal Sun (My Insurance company) would only have to pay 25% of the other person’s damages, yet cut me out. So everybody was happy except me :-).
Normally the moral of the story would be, never get third party insurance since they will shaft you if they can. They have no interest in their clients well being, all they care is a quick buck. However, the moral is, we need to create non-profit co-operative insurance companies, that work for free! If you no one has any accidents their money is returned by the same share they paid. i.e. cut out the big profits those companies make. I still don’t get it, the government forces people to buy their product! Who came up with that law! The law should have been, all people must buy insurance from non-profit insurance companies.
Anyway, thats the end of my rant. I am happy that now I hate insurance companies even more, that I might seriously look into starting a non-profit insurance company. White collar crooks :/