I honestly think I keep forgetting that it is March. I have been surprised on more than one occasion in the past week that it is March. Example: I had in my day plan that we had a presentation on March 9. So the morning of March 9 when one of my coworkers mentions it, in my head I am thinking "nooo that's not til the 9th of ...........oh dear lord it IS the 9th of March.
Same thing applies to my yearly package policy for two of our vehicles. I know it's due in March. I save for it for March. and each year I am surprised when it comes... in March.
For those unfamiliar with SK vehicle insurance, there are two levels. The first level is for our 'plates'...our yearly vehicle insurance renewal. For DS1 and myself, our vehicles are valued at about $1100 each for this insurance. It covers a bunch of basic coverage, with mid level deductibles.
Most people (ok well most people "I" know), also get an extended policy. It covers a bit more deeply, with lower deductibles.
When I opened mine last week I knew it was for two vehicles and would be high, but I still blinked.
It came to $636
$284 was for mine and $352 was for DS1's, which is technically my vehicle too.
DS1's is higher as he is in the US and needs higher coverage and liability. We have a 5 million third party and a 2 million family security. In comparison, mine up here is a 2 and a 2 million.
I paid it all at once. Plopped it on my visa to get the few reward points and came home and immediately transferred money from my account to pay it off.
I could have paid it monthly - $109.18 down payment plus $54.59 monthly (Total of $764.26)
or 3 times a year - $254.40 + 200.80 + 200.80 plus 2 $10 installment fees (Total of $676)
Definitely makes financial sense to pay it all at once IF you can save ahead properly.
The lady handling this said that I could have also did it all online through my online banking. I really don't mind stopping in to pay this. It's not out of my way and has good hours of being open. Even Saturdays. This way too, they know my face when I have issues I need to deal with. I have found this helpful on multiple occasions.
I pointed out to the lady that the more people who do this online, the fewer people the business will need to employ. The way her eyes opened, it showed that this had never occurred to her before.
It's good to have that off my to do list for another year.
Tuesday, Nice weekend!
1 day ago
4 comments:
LOL - she's encouraging people to take her job away! Silly. Your insurance is very different from ours - we pay for a new licence sticker on our birthday every year and then insurance is separate and handled by a broker who tries to get us the best deal. Plus they handle my home insurance too. My monthly bill for insurance is $270!!! but that includes Kazi's share of $175. It still seems pretty steep to me.
Hi Jolie! I discovered your blog a few months ago and since then have read EVERY entry from the very start! Your blog became my "book of the month" for awhile :) I just want to say how awesome it's been to see the progress you've made with your finances. I've also loved reading about your family and sort of witnessing your boys grow up :) I hope you continue blogging for a long while!
I love the insurance here - its so cheap compared to Ontario. We just realized we had a $100 deductible on our car and are changing that right away as we would never claim something so small. We pay yearly as well, but weren't always like that. Like you said you need to plan a head for it.
Jane I did that math. that is scary math. Did it at least include your house insurance too?
SS - SK definitely is unique in it's insurance ways. Not sure if it is good or bad, but it is definitely unique.
EFK - thanks so much for reading. I am not wise, but I AM getting older LOL
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