According to this article in the National Post, a newspaper from the Toronto area, the mother of a teenager in Edmonton had a little bit of a shock waiting for her in her mailbox. It seems her son has a bad driving record. The mother knew that her son's insurance was going to go up, because "he has a tendency to speed." The 19-year-old has received 10 speeding tickets, and has been involved in two "minor" fender benders, in addition to a rear-ender that totaled his car. But when she opened the insurance bill, the premium was $104,566.63. To put that another way, she figured that her son would have to work full time, making $55 per hour, in order to afford the insurance premium.
That will put your insurance bill in an entirely different perspective.
Friday, January 25
If you thought your insurance bill was high...
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