Single vehicle accident and insurance.. how long on record, 4-5yrs?

[Xtreme2001]

I am currently with StateFarm who states that I have to wait 5 years before my single vehicle accident is completely off my record and my insurance rate are at it's premium (i'm already at 3 years). I was told that there are other companies which remove the accident after 4 years. Does anyone know of any of these companies?

Thanks

[hempopotamus]

My company Gore Mutual leaves it on for 6 years

[D-3vil]

No idea which, but I'm sure you can get a cheaper rate with a company other than StateFarm.

[tataynik]

You are now at Statefarms mercy. If you go to any other company, they will count the number of years you were accident free (in your case, 3 years = 3*rating) I am not sure how Statefarm does it but most insurance companies, if you were with them for a while and accident free for 6 years, they will just drop you down to 5* and keep you there for 5 years (then back to 6*).

[Xtreme2001]

You are now at Statefarms mercy. If you go to any other company, they will count the number of years you were accident free (in your case, 3 years = 3*rating) I am not sure how Statefarm does it but most insurance companies, if you were with them for a while and accident free for 6 years, they will just drop you down to 5* and keep you there for 5 years (then back to 6*).

Thanks.

My original insurance company made me sign a waiver to remove myself from the policy and i pretty much can never go back with them. As you said with statefarm, I am in that 3 year grace period which is nice and can't wait till the 5th year. If there are other palces that drop after 4, please tell me?
Statefarm has been the cheapest place around, so I can't complain. Who else would be good to look into?

[D-3vil]

Thanks.

My original insurance company made me sign a waiver to remove myself from the policy and i pretty much can never go back with them. As you said with statefarm, I am in that 3 year grace period which is nice and can't wait till the 5th year. If there are other palces that drop after 4, please tell me?
Statefarm has been the cheapest place around, so I can't complain. Who else would be good to look into?

BelAir Direct, Meloche Monnex (if you qualify), or try getting a quote from kanetix.ca. Only reason I mentioned that you're likely to find a better rate is b/c all statefarm quotes (for me and my friends) were on the high side (this is with clean records).

[Harkonnen]

I don't know if this has any bearing on your question, but when I was shopping around for quotes, many of the online websites asked if I had any accidents or tickets in the last 9 years. I think this was for TD Insurance and one or two other online insurance companies.

Does 9 years sound unreasonable? I thought 9 years was insane.

[mlc2000]

if u leave, you'll be paying the high rates for even longer.

Stay where u are.

[M-e-X-x]

BelAir Direct, Meloche Monnex (if you qualify), or try getting a quote from kanetix.ca. Only reason I mentioned that you're likely to find a better rate is b/c all statefarm quotes (for me and my friends) were on the high side (this is with clean records).

same... statefarm is good for certain ppl, but not for the general population...

[tataynik]

I don't know if this has any bearing on your question, but when I was shopping around for quotes, many of the online websites asked if I had any accidents or tickets in the last 9 years. I think this was for TD Insurance and one or two other online insurance companies.

Does 9 years sound unreasonable? I thought 9 years was insane.

Some companies want the 9 year info just for discounts. Some can even sell you a forgiveness clause for $25/year if you have been accident free for at least 7 years. If you have this on your policy, after an accident, your rating will stay the same (will actually be $25 cheaper since you are now ineligible for the forgiveness clause)

[tataynik]

Thanks.

My original insurance company made me sign a waiver to remove myself from the policy and i pretty much can never go back with them. As you said with statefarm, I am in that 3 year grace period which is nice and can't wait till the 5th year. If there are other palces that drop after 4, please tell me?
Statefarm has been the cheapest place around, so I can't complain. Who else would be good to look into?

D-3vil is right, try the direct writers, just make sure you disclose everything (accidents and tickets) when calling around. You dont want to be given a lower rate then you cancel statfarm, if they find anything you did not disclose in the original application, they can cancel you and Statefarm will not take you back.