Topic: So I just got my bike insurance renewal...

[uberchuckie]

The spiel I have been getting up until now is that we have more options when it comes to our insurance.  Maybe they were insinuating that we can choose to get less medical coverage for reduced rates... right?

My current policy have

• $100,000 medical expenses
• $72,000 attendant care expenses
• Caregiver, Housekeeping & Home Maintenance expenses for all injuries

My new policy would have

• $50,000 medical expenses
• $36,000 attendant care expenses
• Caregiver, Housekeeping & Home Maintenance expenses for catastrophic injuries only

I have the option to pay more to increase my benefits to what I have currently.

So my premiums should have gone down, right?

WRONG!  My premiums went up $60 a year.

What was the point of this insurance reform?  They now can give us less benefits while keeping the premiums the same!  WTF! 

[ukilme]

Yes, that is the pisser about these insurance reforms.  My agent had warned me about this.

[1125R]

Thank your buddie Dalton.

Read the fine print btw,

Has to be serious injuries, deemed so by insurance company, or your cap is 3k.

[uberchuckie]

I just read the detailed stuff... $3,500 limit for "minor" injuries regardless of what coverage is paid for.

[1125R]

yup they will gladly sell you 1 million coverage.. and never tell u your capped at 3k.

It will be interesting to see how it plays out since the insurance companies got together and agreed on a set of definitions on what were major injuries,

Much like letting cops be the judge on all crimes. Your guilty! Appeal? No Appeal!

[GT Pilot]

The Insurance industry is for all intents and purposes a racket.

In what way ??   what they are doing here is extortion pure and simple.

Worse yet they are aided and abetted by Government (another racket).

[smokey]

What they also won't tell you is that they will be the last to pay anything, first they will go after OHIP, then they will go after any privarte insurer you are with, and only then will actually pay anything out. It's a scam is all it is, and it is costing you in some cases more than P of you premium.

[Rainman]

It is hard to know where the money is going.  I see the other side of this whole process because I perform medical evaluations for insurance companies.  As part of this insurance reform they have also decided pay their assessors less for the same services with a capon the billed amount.  They charge the same or more, offer less, and pay out less to assessors.  I am not sure how the consumer benefits from this.

R