Ontario driver shocked by insurance premium that skyrocketed to $14,000 per year
An Ontario man who had an accident, two speeding tickets and two tickets for failing to produce his insurance slip said it's absurd his annual rate has skyrocketed to more than $14,000 per year.
"That's over $1,000 a month just for insurance, plus my truck payments because it's financed, plus gas. It's going to cost me $2,000 just to drive to work," Tyler Marchildon, a 26-year-old carpenter from Guelph, told CTV News Toronto.
Marchildon said he has two speeding tickets on his record, both for going 15km/h over the limit. He also received two fines for not having his pink insurance slip in his truck when he was pulled over.
He said he was paying about $4,000 a year for insurance, but this summer he backed into another vehicle and damaged it, even though his own pick-up truck did not require any repairs.
Marchildon said if he stays in Guelph his insurance will be $8,500, but he was planning to move to Mississauga, which is why it increased to $14,291.
"It's more economical to quit my job and work at Tim Horton's for less than half the pay that I’m making and just not drive," Marchildon said.
Ontario is considering creating more high occupancy toll lanes that will allow people driving alone to pay for a quicker commute. (Pexels)
Justin Thouin, co-founder of with Lowestrates.ca, said Mississauga is one of the most expensive cities to own a vehicle in Ontario.
"Mississauga according to one of our studies is in the top five most expensive car insurance jurisdictions in Ontario, whereas Guelph isn't,” Thouin said.
Insurance companies treat speeding tickets differently and if you get one ticket your insurance company may forgive you.
On average, one minor ticket could see a zero to 10 per cent increase in premiums. Two tickets a 25 per cent increase and three tickets a 100 per cent increase.
If you add in an at-fault accident, rates will go up substantially.
"The biggest strike against him (Marchildon) are all these tickets and infractions, so his best chance for lower auto insurance rates is to have a clean driving record," Thouin said
"It's really a blow. I don't even know how to comprehend it," said Marchildon, who added "If I had racing tickets or stunt driving, that is something I can understand, but $14,000 is more than half the value of my vehicle and to pay that annually is absurd."
Marchildon plans to shop around to see if he can find insurance cheaper somewhere else.
Speeding tickets will stay on your driving record for three to six years and with some insurance companies as long as 10.
Tickets issued by a photo radar camera will not affect your insurance premiums.
CTVNews.ca Top Stories
More than 115 cases of eye damage reported in Ontario after solar eclipse
More than 115 people who viewed the solar eclipse in Ontario earlier this month experienced eye damage after the event, according to eye doctors in the province.
Last letters of pioneering climber who died on Everest reveal dark side of mountaineering
George Mallory is renowned for being one of the first British mountaineers to attempt to scale the dizzying heights of Mount Everest during the 1920s. Nearly a century later, newly digitized letters shed light on Mallory’s hopes and fears about ascending Everest.
Toxic testing standoff: Family leaves house over air quality
A Sherwood Park family says their new house is uninhabitable. The McNaughton's say they were forced to leave the house after living there for only a week because contaminants inside made it difficult to breathe.
Decoy bear used to catch man who illegally killed a grizzly, B.C. conservation officers say
A man has been handed a lengthy hunting ban and fined thousands of dollars for illegally killing a grizzly bear, B.C. conservation officers say.
B.C. seeks ban on public drug use, dialing back decriminalization
The B.C. NDP has asked the federal government to recriminalize public drug use, marking a major shift in the province's approach to addressing the deadly overdose crisis.
Sophie Gregoire Trudeau on navigating post-political life, co-parenting and freedom
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
An emergency slide falls off a Delta Air Lines plane, forcing pilots to return to JFK in New York
An emergency slide fell off a Delta Air Lines jetliner shortly after takeoff Friday from New York, and pilots who felt a vibration in the plane circled back to land safely at JFK Airport.
OPP responds to apparent video of officer supporting anti-Trudeau government protestors
The Ontario Provincial Police (OPP) says it's investigating an interaction between a uniformed officer and anti-Trudeau government protestors after a video circulated on social media.
'I was scared': Ontario man's car repossessed after missing two repair loan payments
An Ontario man who took out a loan to pay for auto repairs said his car was repossessed after he missed two payments.