Insurance disparity between Vibe & Matrix

Alberta, British Columbia, Manitoba, Saskatchewan
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coryabaron
Posts: 5
Joined: Sun Nov 18, 2007 3:08 pm

Insurance disparity between Vibe & Matrix

Post by coryabaron »

In Manitoba, the base insurance rates for the 2007 & 2008 Vibe & Matrix are:2007 Pontiac Vibe - $1,205 2008 Pontiac Vibe - $1,0872007 Toyota Matrix - $1,0572008 Toyota Matrix - $1,164The base rate for the Vibe DECREASES by $118 from 2007 to 2008, yet the base rate for the Matrix INCREASES over the same period by $107.In MB, the insurance for a 2007 Vibe is $148/yr greater thanthat of the 2007 Matrix. Yet for 2008 models, the base rate for theVibe is actually at a $77 discount to the Matrix.How are these inconsistent base rates between the Vibe & Matrixjustified? How are the inconsistent directions in the rate changesjustified between 2007 and 2008 model years? Does this disparity exist in other provinces? I have heard that a disparity in 2007 may be due to the Matrix having an approved theft-deterrent system, while the Vibe does not have an approved system. Do any of you know the explanation for this disparity in insurance rates?
keithvibe
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Re: Insurance disparity between Vibe & Matrix (coryabaron)

Post by keithvibe »

matrix holds the value better.
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ajconover
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Joined: Fri Apr 06, 2007 7:25 am

Re: Insurance disparity between Vibe & Matrix (coryabaron)

Post by ajconover »

I actually asked my agent about something similar -- but it just involved liability rates. My liability went up when switching from an old Lumina to a Vibe. I expected the collision, etc., to go up to reflect the new value of my vehicle, but I was confused about the liability... especially since I've had a safe driving record with the same insurance company for 20 years.My insurance agent basically told me that they compute the number of "at fault" accidents for all types of vehicles and factor that into overall liability rate. He said they also recompute it every year. Evidentially, Vibe drivers had a higher "at fault" rate than Lumina drivers, so the liability rate was higher. The same might have been true for the Vibe vs. Matrix and then changed.I don't know if Canada has different liability insurance rules than the U.S., but I'd guess statistical liability risk plays a factor.
2006 Stealth two-tone Vibe -- Automatic -- "Preferred Package" -- Otherwise, stock.
coryabaron
Posts: 5
Joined: Sun Nov 18, 2007 3:08 pm

Re: Insurance disparity between Vibe & Matrix (ajconover)

Post by coryabaron »

Thanks for your comments. The challenge to my insurance company is that the risk factors used to calculate insurance rates are extremely similar between the Vibe & Matrix. This is both in terms of the physical vehicle as well as the demographic of drivers.Auto insurance is administered at the provincial level in Canada, so some provinces have public insurance while most have private insurance. My province has public no-fault insurance. The liability portion of my insurance is small compared to the "base rate".
Lecanard
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Joined: Sat Jan 08, 2005 3:54 pm

Re: Insurance disparity between Vibe & Matrix (coryabaron)

Post by Lecanard »

well i live in Winnipeg and have an 04 and mine is $1264
coryabaron
Posts: 5
Joined: Sun Nov 18, 2007 3:08 pm

Re: Insurance disparity between Vibe & Matrix (Lecanard)

Post by coryabaron »

Do you agree that the risk factors are very similar for the Vibe & Matrix? The only exception is a difference in immobilizers. However, the maximum annual incentive for having an approved immobilizer is $40. Therefore, any rate difference greater than $40 should be questioned, in my opinion. Using MPI's calculator, I just ran all 2003 - 2008 Vibes & Matrix base models.Assumptions were:- $200 deductible- $2Mil Liab- All-purpose- city region- 20% discount- no optional insurance taken- basic trim levels with front wheel drive Vibe Vibe Matrix Matrix Base Total Base Total Rate Rate Rate Rate2003 $1030 $1287 $1087 $13482004 $1087 $1348 $1087 $13482005 $1118 $1381 $1057 $13162006 $1164 $1429 $1057 $13162007 $1205 $1472 $1057 $13162008 $1087 $1348 $1164 $1429
lovemyraffe
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Joined: Sun Oct 07, 2007 3:08 am

Re: Insurance disparity between Vibe & Matrix (coryabaron)

Post by lovemyraffe »

The thing that gets me about this is the Vibe is less expensive (in most circumstances) than the Matrix. So you would think the Vibe would be cheaper to insure.
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CaptTractor
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Joined: Thu Sep 25, 2008 10:41 am

Post by CaptTractor »

Just another way for the MB gov't to screw us outta some hard earn dough....can't wait to get away from Gov't Insurance....
jake75
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Location: Columbus, OH

Re: (CaptTractor)

Post by jake75 »

On an '04 I am paying about $500 US$ a year for $500 collision ded, $50 comp deductible, and $250m/500m liability. Old guy, low miles, no claims or tickets in 5 years.
2009 Vibe 1.8L Carbon Gray AT Power Pkg 1/12/092003 Vibe 1.8L Neptune AT Mono Power Pkg 1/27/03 [sold 2/2/09]2007 T&C SWB 7/31/07 "Broke people stay broke by living like they're rich. Rich people stay rich by living like they're broke."
CaptTractor
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Re: (jake75)

Post by CaptTractor »

Quote, originally posted by jake75 »On an '04 I am paying about $500 US$ a year for $500 collision ded, $50 comp deductible, and $250m/500m liability. Old guy, low miles, no claims or tickets in 5 years.I wish....'09 2.4 L FWD Man roughly $1200/yr pleasure...in AB I know I'd be paying at least $400 less...though most Manitobans believe they're paying the lowest insurance in Canada...not sure where they get their facts though.........
oriden
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Location: Winnipeg, Manitoba

Re: (CaptTractor)

Post by oriden »

i dont think you want to depending on your age.....in ontario as 18 with a CLEAN driving record your already at $3600/year untill your at a full g and over the age of 25..
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