Canadian(Bike) Insurance>Please share experiences

Ok, there have been many threads on the general topic of bike insurance.
The last one... http://www.xjbikes.com/Forums/viewtopic/t=4651.html ...brought to my attention about some "issues" with insurance up North.
Several riders have commented on HIGH rates, with MINIMAL coverage. 8O
I ask that you Hockey-Lovers share your experience w/ your providers so that others can benefit.

Also, if you can share some insight on WHY you are being charged soooo much. :cry:

 

As insurance companies like to say your rates are based on many factors, here's mine:
London, Ontario -- don't know the "geographic weight" they give us
Male, 39 years old, 18 years licensed, does have motorcycle safety course, two minor speeding tickets in the last 5 years (1 bike, 1 car), no accidents, no claims. As a note, I have not noticed my rates increase because of the tickets.
Bike is 27 years old, 650cc, "standard" style, with no major modifications.
Here in Ontario, our insurance is broken up into 4 categories:
- PLPD (aka liability - Personal Liability and Property Damage) - This is the only LEGALLY REQUIRED of the bunch
- Collision
- Fire/Theft
- Comprehensive or Specified Perils
Due to the age and value of the bike, having Collision or Perils insurance is silly and a waste of money - no idea what that would be worth.
Currently I pay $460/yr for PLPD only - $500k worth.
Should I wish to add Fire/Theft to that, it would be an extra $400/yr.
Oh - and lets not forget the taxes (5%) and any special fees from the provider (ie a fee for paying monthly, instead of a lump sum) on top of those figures.
What kills me is what I pay is actually one of the LOWEST amounts of several people I know. I personally know guys that pay in excess of $1500/yr. Of note: any bike that is not 'owned' - ie you're making payments on it - MUST have full, comprehensive perils insurance - which drives up the cost more.

Now - as to the WHY we get bent over like this. How about the Canadian Insurance Industry posting 4.5 BILLION in profit in 2007? Remember - only 30 million people in Canada......

This could get waaaay too long - I'll let some others post first

 

Im 22 years old ive been with state farm for around 6 years I pay $120 bucks a month for my seca 750...Pretty sad a 08 R6 would cost me 115 a month...

 

As Altus described - I carry only PLPD and don't worry about collision (it's a toy and it has low value)

For me on the CBR I pay $300 a year - for $1,000,000 liability. If I wanted collision it would jump to ~$1000-2000 depending on the company... and theft you may as well buy a new bike every couple of years.

 

I lived in Ontario all my life until last September when I moved to Alberta but insurance rates seem to be about the same here. I just want to say that vehicle insurance in at least these Canadian provinces are absolutely criminal! And I'm not kidding, I honestly believe that some responsible people need to do time for what myself and many others are paying. I would visit their jail cell's and piss in their faces for good measure.

Let me start off with my cage and by saying that I am 22 years old, have been driving solo since I was about 16 years and 9 months. I have a squeaky clean record and am with the Co-operators. I've made a couple claims in the past. One when somebody broke into my old Mercury Topaz I

used to have and stole my stereo. The other when some drunk bitch sideswiped my Sunfire when it was parked and I was not inside it (a longer interesting story by itself). Neither were my fault and neither increased my insurance rate. I am paying about $300/month for my '04 Pontiac Sunfire. Thats about $3600 a year and down a good deal since I had to pay $5000 the first year I had the car.

Some people tell me I'm getting raped and I should be looking for other companies to deal with. Well you know what? I've done my homework. That $300/month is actually lower, and in some cases quite significantly so than all other insurance companies I checked with, and a hell of a lot lower than Kenetix.ca can find. The fact of the matter is I am getting discounts with Co-operators because I've been with them a few years, I used to be under a family plan, and now I'm under a safe driver plan. They say your insurance drops significantly once you turn 25 years old. I think that is a crock of shit. You mean to tell me that males turn 25 and suddenly become responsible citizens? Like that is some kind of magic number? Insurance rates can supposedly be backed up with statistics right?

Now for bike insurance. I insured my bike with co-operators last year for $1500. Ontario has a graduated license program and I was on the middle of 3 steps. Once again I checked around and all other companies cost a lot more on the matter. In Alberta there is only one license so hopefully I can save a lot here. I was talking to one guy who was insuring a Honda Shadow 1300 for $700/ year.


It makes me sick when I hear about middle aged or older guys complain about their insurance rates. Many of them can damn near insure their car for a whole year for what I pay in a month. My dad is 60 and also drives a Sunfire. It costs him about $400/year last I checked. A mere $33/month or so. Also, females my own age pay about half what I do. Whats more disgusting? In the little over 5 years I have been driving and the money I have spent toward insurance. I could buy a Ford Fusion (for example) in cash right now had I been able to save that money.

I know there are people worse off than me though. I knew one fellow who told me of his daughter's boyfriend paying $7000/year for a Cavalier. A friend of mine had to pay $7000 one year for a Suzuki Sidekick after a speeding ticket and an accident. Another buddy of mine pays $350/m for an '08 Ford Ranger with one ticket.

I really never think of it but writing this post has turned my blood temperature up a few degrees. Someone needs to go to hell for this!

Sorry, this got a little off track and was too cage oriented. I guess I got me to vent a little.

 

Hey guys, You know I was having a good morning until I read this. The insurance companies up here are killing us. No matter how good of a driver you are, they will find some way to up your rates. I have been driving for 20 years, never had an accident or a ticket for that matter. Every year I get my new insurance papers and you guessed it, my rates went up. If it's not the car or truck insurance then its the house. It has to stop somewhere.
As for bike insurance, I take my Motorcycle safety course next month, have an 83 Maxim 400, no fancy stuff, just PLPD, and my best quote was 350/year. And being that I live in the White North, I only get about 6 months or so of riding. My initial quote was for 1500-2000 dollars for full insurance. I almost feel off my chair.
So to sum things up, we get the big one, up North when it comes to insurance of any kind.

Now I need to watch some hockey and have a beverage to calm down!!!!!

Cheers Mac

 

Yep...its bad......I've been wit Statefarm for my whole driving life(cars&bikes)
But since I have not had a bike insured for 20+ years they wanted $668 a year for PLPD only(1 Million) So I went online with RBC and they wanted $428 a year......I can live with that. Funny thing is Statefarm goes by cc's only....ie: a 600 ninja costs the same as a 650 Maxim...go figure. And the other extreme I could of bought a 08 250 Ninja with full coverage for $325 a year....but that would be wrong...just wrong.
I was also recommended to go to Riders Ins and they were over $1000 for the same basic coverage......may have something to do with the fact that its been 20 years since I've ridden?

 

For my XJ, I'm $800.00 a year with MINIMUM coverage the law will let me get away with. No tickets, no accidents - multi policy discount is even factored in there because of my car, wife's car, house and life insurance.

For reference, I live about an hour away from Altus.

 

I'm 24, been driving a bike for 4 years, I have a safety course. I'm through Pembridge, and my bike insurance has always been $212 for 1000,000 liability. My agent told me that as long as I rode a 'standard' bike under 700cc my insurance would be the same. And when I switched from an xs400 to the price never changed.

 

In Sask. my Seca 550 is classed as a sport bike. Our insurance comes with the licence plate. SGI charges $427 / year for Personal injury, Vehicle physical damage and $200,000 liability. There is a $700 deductible. I pay on a monthly basis at $37/month and only activate the licence when I start riding and cancel it when I park the bike. I can add the bike to my home insurance when it is in storage.
I lived in Alberta for three years and could only afford to put liability on it there.

 

Something you guys have brought to my attention were YOUR liability limits.
They seem to be considerably higher than most of the US minimum limits.

For example. TEXAS minimum is NOW(as of 4/1/08) 25k/50k/25k

25k per person Bodily Injury
50K total PERSONS(regardless of how many) Bodily Injury
25K for Property Damage to others
THESE ARE TEXAS LIMITS BTW

CSL(or combined single limits) must be at least 75k for Bodily Injury & Property Damage.

Many states have higher AND lower, but you get the picture.

Maybe this IS why the premium is MUCH higher...?

PS I do know there is a currency diffrence, but it cant be THAT much...can it??

 

Sounds rather strange with the insurance companies. I'm 27, in Alberta with State Farm, have been with them for at least 10 years. Just bought my first bike last week (1980 xj 650) no bike lisence no safety course and my insurance (plpd only) is only 212 per year. Whats with the wide spread in rates?

 

Well well, fellow Edmonton...er...ite? Whatever. Apparently the insurance rate drops considerably once you're over 25 years old. I don't know but I heard in Nova Scotia they can't discriminate based on age or sex. That drops it a good deal for younger people. In Ontario age doesn't effect bike insurance for some reason as I was told.

If thats all you're paying for your Maxim here, I'll consider that a glimmer of hope for me. I have not yet checked into bike insurance since I moved here.

 

I'm with a company called Dominion of Canada, through a broker (Cal Legrow). I'm paying about $250.00 a year for my '83 650 seca... But it took a couple of years to get the rate to that level... and they wouldn't take me at dominion until I was with another company for 12 months.

I'm located in NL.

However Dominion is Canada wide as far as I know... they also got me a severely reduced rate on my truck... $3000.00 for public liability with a DIFFERENT company... $1000.00 for FULL coverage with Dominion of Canada... Pretty satisfied... (I have 2 speeding tickets on my record).

 

Hey guy's!!!!

Montreal Quebec here and I pay 198$ insurance for my xj 1100 and 1200$ for a 2003 dyna wide glide . The thing is that I pay 520$ a bike each to plate them. So cheap insurancre but high prices for plates. So it all comes down to pretty much the same cheers guys

Fab

 

I am in British Columbia and get the "benefit" of government no-choice basic coverage of $200,000 for the amount of $1,000 for my XJ650 or XJ750.
This $1,000 includes:
Road Safety including law enforcement $13.83
Drive and Vehicle Licensing, vehicle registration, and other services $27.31
Premium Taxes (4.4%) $30.49
I get a discount of $100 for being a safe driver
I increased the 3rd party liability to $1,000,000 for an additional $120 ($108) discounted.
I transferred this insurance from my old Dodge full size van and had to pay MORE to insure the motorcycle!
If you insure for 1/2 year the rate goes up by about 20%
So regardless of any clean air talk of reducing my carbon footprint, my provincial government is encouraging me to use my 20 mpg van.
In 2007, motorcycles were involved in 4.1% of accidents followed by bicycles at 3.6% (who don't pay insurance) so it looks like some motorcycle discrimination is going on in BC!

 

There were 98,639 motorcycles licensed in British Columbia
during 2007. The number of motorcycles licensed showed an
increase of 7.4% from 2006.
In 2007, drivers licensed to operate motorcycles totaled
235,732, a 2.7% increase from the previous year.
There were 47 fatal collisions and 972 injury collisions
involving motorcycles in 2007. Injury collisions decreased by
5.2% (from 1,025 in 2006) and fatal collisions increased by 3.
The fatal victims included 44 motorcycle drivers (compared to
41 in 2006) and 4 motorcycle passengers. Among injured
motorcycle drivers and passengers whose helmet usage was
known, 2.9% were not wearing a helmet. Among those killed,
4.3% were not wearing a helmet.
The top five contributing factors assigned to motorcycle drivers
(as a percentage of total motorcycle collisions) were, in order of
magnitude:
(1) Speed (20.7%)
(2) Driver inattentive (20.5%)
(3) Driver error/confusion (20.5%);
(4) Alcohol (5.8%);
(5) Wild animal (5.0%).
The top five contributing factors assigned to other drivers
colliding with motorcycles (as a percentage of total motorcycle
collisions) were, in order of magnitude:
(1) Driver inattentive (13.9%);
(2) Failing to yield to right of way (11.9%);
(3) Driver error/confusion (6.2%);
(4) Improper Turning (4.3%)
(5) Following too closely (2.5%)
The ‘primary collision occurrence’ is the action taken by the
vehicles at the time of the collision. The most common
occurrences for motorcycle collisions were off-road right
(16.2%) followed by rear end (12.6%) and left turn-across
oncoming traffic (10.9%). In 69.4% of injury and fatal
collisions, the motorcycle drivers were going straight ahead.

 

I'm with you, plansea. Monopolistic auto insurance is insane here in BC - you wonder why they privatize everything else but not ICBC...probably because vehicle insurance is a cash cow for the provincial government.

 

DAMN, in Alberta I pay $100 for pl,pd, with $1,000,000 coverage on my 1987 750 Ninja. Plates are just under $50. Cost me the same for my Honda Spree scooter that I just sold. Actually all my bikes cost the same. Just can't afford to plate and insure them all at once. Keep 2 on the road at all times though. I think once your over that magic 750cc number though it starts climbing more in price.

 

That dreaded acronym...ICBC. Don't we all love it? Phttt. Anyways, with a 43% discount and collector plates, and one million third party I only pay $21 a month on a 1982 1100 Yamaha. I can live with the price.

 

Collector plates would mean I can't drive it to work on a daily basis (or drive it to work at all)as I do now. I respectfully suggest many "collector" plated motorcycles I see on the road are being used outside the terms of the policy.
Here is the real problem:
ICBC net income
In 2008, ICBC recorded net income of $497 million. Net
income stays in the company to help keep insurance rates
low and stable over the long term and to protect
policyholders against significant unexpected losses.

I think an insurance company should know what the losses will be- I am the one with unexpected losses.

I think net income should be returned to the policyholders so we could pay realistic rates, at the moment ICBC is keeping $300 of my $1,000 premium -they are keeping more money from me than I would be paying total in Alberta- the BC government seems to see the citizens as sheep to be shorn-baa baa

 

Your collector vehicle may qualify for a lower insurance premium if you have
* another licensed, non-collector vehicle, or
* a company-assigned vehicle that's used for general transportation. (This includes a vehicle insured under one of these rate classes: pleasure, to and from work, business, farm, artisan, fisherman or delivery.)

If the only vehicle you have is your collector vehicle, it may still qualify for collector plates. However, it won't qualify for the lower, collector vehicle insurance premium.
Pleasure use: Vehicles with collector plates are restricted to pleasure use only.
With collector vehicles, you may never drive to work or school.
Important: Driving a vehicle with collector plates for reasons other than pleasure use could void your insurance

So that rules me out I go to work and night school on my bike)

Nuckinfutz, I would love to have a 1982 Maxim XJ 1100 to go with my "little" bikes- let me know if you see another good one-I know they are rare!

 

No need for a commuter vehicle...drive a truck for a living and it's always with me. Yeah, I'm finding out how rare they are when I need a part for it.
If I ever see one I'll let you know Plansea.

 

Here are my experiences in Alberta.

5 years ago, I was with Co-operators insurance. I was paying $250/month for my Sunfire at the time. Getting married and turning 25 ended up costing me $10 a month more, even though at the time there was a rate freeze on. The insurance company I switched to charged me $147/month for my car and my wifes. Now, still at that same company, I pay $116 total for my car, my wifes car and my truck. The bikes are under $14/month each.

 

I carry plpd only due to the age and value of the max, $1,000,000 liability costs me $12.50 per month which I added to the monthly I allready pay for our cars and house. It brings it to about $215 per month for full coverage on two cars, basic bike and full recovery and contents on the house. I can get an other discount if I pay it in full up front but not enough to make me save the money!! I am thirty in november and my wife just turned 26 in august
Shaun

 

I'm a relatively new rider(had my license just over a year) and I pay just over $300 a year for public liability-$1,000,000 policy.I think that's pretty reasonable.I'm in Nova Scotia BTW.

 

Yeah it sure is insane .I went for insurance on my 85 XJ 700 and would you believe it is $1500 a full year.That does not include fire or theft.They are nuts.So I only insurance for Aug and Sept and that was $490. They tack the $89 registration fee to it also..they are friggin nuts. I pay for my 96 Ford Ranger about $650 for the whole year.Just to give you a comparison between a Bike and Vehicle. My snowmobiles are about $86 a year basic insurance,no fire and theft. They are a2001 - SXR600 and2002- SRX 700.Can't imagine if I bought a new Bike or Sled what the rates would be including Fire and Theft because of the value of the machine.That is why I stick to older things,Bikes,Sleds and Vehicles.Screw them,I just don't support the economy vehicle wise.

 

This is one thing i HATE about Ontario.
I've had my cage license for 16 years. One claim in the last 7 Years (in Ontario the accident was 100% my fault bcause i hit a non moving vehicle.
The guy in front of me stopped, and i slid about 40-50 feet with full ABS goin in the snow and slush and rear ended him.)

I pay over $1900/year to insure my 2005 Ford Escape.
I pay $750/year Liabilty only for my 400. Granted i've never had a bike license before in my life. But i was told after the first year of having motorcycle license, it will drop HUGE. Of course, if it doesn't, i'll have paid for my bike twice over in 2 years

I'm 34 BTW.

Grr.. now i'm mad hahah

 

Quebec bikers protest insurance hikes
was the 16th in a string of regular and very visible weekend protests Quebec bikers have staged since April – this one dubbed Operation Snail.

Hundreds of protesters drove en masse along Quebec highways at minimum speeds over the weekend, to protest rate increases by the province's automobile insurance board.

Bikers took their protest caravan to the steps of Quebec City's legislature, with some camping overnight.

Protesters say the province is discriminating against motorcyclists and they're demanding a moratorium on rate hikes for 2010.

They're also calling for the resignation of provincial Transport Minister Julie Boulet.

Quebec's auto insurance board – the Société de l'assurance automobile du Québec (SAAQ) – insists it cannot afford to function at current rates given the incidence of accidents and the province's public no-fault insurance plan.
Quebec motorbike fees rise steadily
Annual registration fees for motorcycles, which include insurance, have been hiked in recent years, with some more than tripling.
Riders with the most powerful models have been the hardest hit, seeing annual fees spiking from $667 in 2008 to $1,030 this year and a further hike is planned for 2010 - up to $1,410.
The SAAQ contends sports bike devotees are over-represented in accident statistics.
The owners of passenger vehicles pay about $260 per year and the owners of less powerful motorcycles pay about $518 annually.
The insurance board refuses to budge on the new premiums.
In August, the board made a concession to the protesters, saying it would review the fee hikes this fall but would not cancel the 2010 fee hikes.
http://www.cbc.ca/canada/montreal/story ... otest.html

 

Its a shame why we should pay so much..its not just the industry that dictates, the Feds are in to it too. I am in ontario 37yrs been riding 2 n 1/2 yrs with safety course..NO tickets (last 5yrs)first yr paid $800/yr n then dropped to $550/yr PLPD only dont know whats in store nextyr.

 

Damn! You Canadian dudes are dedicated to the sport to EVEN CONSIDER paying those premiums.

In Washington State it is absolutely legal to ride a motorcycle without any insurance of any kind. Not even what we call liability.

One would be very young or foolish to ride without it.

The youngsters from Oregon use WA highways to run their sport bikes at high speed without worry of no insurance ($1000 ticket).

I guess if you can get 'em to the border bring 'em on. Just don't get hurt by an uninsured motorcycle rider.

 

Since my bike was in storage, I haven't had insurance on it for more than three years (been riding since '69). Put it back on road last month. It costs me $660 a year for my bike alone. (They feel that they need to make up for lost revenue because it was stored I guess.) That gives me $1,000,000 liability. The agent says it should drop by half next year. (I guess pigs will fly then.) I can't get any other coverage such as theft, collision, etc,etc at any price. They just won't give it to me. (I mean they'll do it to me just not give it to me) My car and house insurer won't touch the bike.

This Ontario Insurance!!!! I have a Ford Ranger, a Mustang GT, and an XJ550. My wife has a Fusion. I must pay public liability and property damage on each of these vehicles. I can only drive one at a time. I feel that this portion of the insurance should be on your drivers license so that no matter what vehicle you are driving others are covered should you cause an accident. All drivers should pay this even those who don't own a vehicle but still drive. Collision, fire and theft, comprehensive, and specified perils should be on the vehicle to protect the owner's investment. I have tried to get this thought across but my Member of Provincial Parliment, insurance companies/agencies, and even the papers. They won't acknowledge my letters. I guess they make too much money the way things are structured.

 

Try living in Manitoba guys.
MPI... dread that acronym too.
I have a Seca 400... full merits on my license...
$1300/year to insure, minimum insurance.
Now, I'd like to draw your attention to MANITOBA.
A) You can only ride for MAYBE 5 or 6 months of the year.
B) Winterpeg, Manitoba = Pothole capitol city of the WORLD, where alignment shops make waaay to much money.
C) You have to pay the majority of your insurance DURING SEASON... so it's $12.00 during off-season, and $200/month + during season.
Or roads are !@#$. Your top-of-the-line insurance is still !@#$
Regular drivers are seriously retarded. I can't count how many times I've avoided accidents and told my passenger ahead of time 'that guy/gal is gonna do (insert stupid accident causing thing here) and was right.
I think we should have a voting system. You can vote to have a license plate taken off the road. Enough votes (predetermined amount) gets you investigated/followed by the police.
Or even better , me... with a bat, a hammer and a big chip on my shoulder.
.\/.
~

 

I`m in British Columbia. I paid two hundred dollars for three months of road legal insurance. That with 43% discount.