US Policy in Canada

[aaronc0401]

Hello! Recently, my wife and I moved to Canada with our car and are trying to get it insured in Toronto. However, the prices here are ridiculously expensive compared to what we were paying (from $600 annually to $3600). We are trying to figure out if there is a way to extend our current US policy (ending in Oct. 2013) so that we will be covered while we are in Canada for the next two years. Thanks!

 

[USF3983]

Probably not. Insurance companies rates are regulated from state to state and it wouldn't be actuarial sound for you to be in an area that doesn't correspond to a place within the rating territory.

I believe Canada has a minimum requirement of $1,000,000 liability which usually fares well for rates when a person moves from Canada to America.

I'd keep shopping multiple companies.

 

[Aram Fingal]

At least you're in Ontario where there are multiple companies to shop around with. In BC there is only the government insurance for the basic policy. Definitely shop around. Also make sure they're not insuring you as a new driver. You may need to get copies of your loss experience and driving history to present to them to get your rate lowered. My agency is really close to the border and I get a lot of people moving in both directions and help out with this stuff quite a bit. It definitely sounds to me like you're being insured as a new driver because they have no provable history. If you get them this history (assuming it's clean) you should be able to get a much lower rate than that.

That being said, you're probably not going to see the $600 per year again because as the previous poster mentioned their minimum liability requirements are MUCH higher than any US State.