Insurance - insideous or ignorant?

Just finished a phone chat with the insurance guys, questioning why premiums are not decreasing over time. The conversation carried over to the type of bike I had and if it was not of a certain ilk, than I could save a C-note. Not bad.

So sure was I that the cash was in the pocket, confidence in taking my wife out for a nice dinner was high. Then the gal on the other end of the phone read off the "Restricted List" and I found out that my 26-year old 650cc crock is considered high risk. So is a DT50 and a raft of other bikes. I questioned it and she said that yes, ALL Maxims and All Secas are on the list, even the 400cc Maxims. Wow.

Have I just been made aware by Big Insurance that all of us in this Club are horrible street racing rats that cause mayhem and wreak havoc wherever we go, chasing children off sidewalks?

Or are the insurance guys smoking something cheap (with apologies to all the insurance-selling XJ folks out there). There are many bikes bigger, faster and badder than ours not on the restricted list. Anyone have an explanation?

 

double post

 

There is little to no competition in the insurance industry in Canada. Many of the companies are owned by the same conglomerates, and there is simply not enough money in motorcycle insurance for anyone to bother offer anything remotely resembling customer service. They know the business MUST come to them. They are a bunch of scum-sucking a-holes. The blacklisting of many types of motorcycles is commonplace, with many bikes simply ineligible for insurance once they hit 25 years old, for some inexplicable reason.

When the government decrees that you must buy their service, and there isn't many companies from which to choose, they simply pick the low-hanging fruit and tell the rest of us to go pound sand. I know of a guy who recently tried to insure an 82 750 Katana, only to be told that all Katana models are blacklisted as super-sport bikes. The person giving the quote was clueless as to the difference between a 40+ year old man resurrecting an early 80's icon and a 16 year old newly minted rider buying a 600cc plastic clad sportbike and trying to get his knee down.

 

None taken :lol:

Seems like the Northern Border gets a swift kick in the jewels regarding Motorcycles.

A previous thread on the topic of insurance.
http://www.xjbikes.com/Forums/viewtopic ... adian.html

They really do have worse/more expensive premiums north of the border.
And NO, I can offer no explainations to their methods, they are as outrageous to me as they are to you.

 

This forum makes me smile - what can I say? And I guess I was away for a bit and missed that April thread. Thanks for the link Ass.Fault.

As my granny used to say - "Don't sweat what you can't control" and my dad said "If you can't pay for it, don't do it".

Mind you dad was talking about my first wife, but somehow it applies.

Cheers, lads.

 

I paid $950 Cnd for the insurance this year as I didn't have bike insurance in the last five years. (Super minimum coverage)

They said it will go down to half next year, well we will see.

Also three or four insurance companies said my old XJ750 Seca is a "restricted" motorcycle and they can't insure that type of bike?

It is listed as a street bike on my previous owner sheet

You tell me how a 2009 1300 cc rocket is not restricted i n their books?

I couldn't get a straight answer on what they mean by restricted..


1) Restricted in certain provinces?

2) Are not all these types of bike street bikes?

3) Anyone else come across this problem?

 

I went to AMA and got my 1983 Seca 750 Turbo insured for 220 bucks (no insured value on it tho).
If I move my car insurance over to AMA I get a further discount to 140.00 a year.
That is really cheap compared to Maniotoba where MPIC charges on the SAME bike is $2550.00 to insure - and yes, I have made no mistake on that price. That included 25% discount!
I am in heaven here in Alberta where it is so cheap.

 

It actually looks like they have the seca 650 miscategorized.
I have seen that before. Here in Albeta at AMA my Turbo is not even on the restricted listings..

 

Ah, Alberta, where I used to pay $125 a year to insure my 900 Seca. I guess being 3 provinces over suddenly turns me into a foaming at the mouth speed demon.

 

My 83 Maxim xj650 was just abt. $900 last year. But this year they droped it down to $580.
But then, no accidents and no speeding tickets for the last 10 yrs. From my pension it still is a big chunk.

 

i dont know if y'al have GEICO so far north but here in arizona i pay 152.00 a year for full coverage including uninsured/underinsured drivers on my '85 xj 700n. also i'm 48 yrs old. i thought it would be dbl that amount! good luck finding a better deal or maybe move here and watch the world come to a complete stop if a couple of feet of snow hits the ground!

 

i pay 200 a year with aaa, they dont cover anything with a turbo

my brother has a 07 yamaha r6 full coverege first year over 2000
second year under 1000

hyabusa is even more

he was told that if you dont crash it the first year chances are slim it will happen after that something like 80 or 90 percent of bikes totalled are in first year of ownership especially sport bikes

they also told him that they change rates and coverage from bike to bike because of theft record hyabusas are through the roof because they are the most crashed and most stolen bike in america

so if maxims in your area are stolen a lot they may not even want to cover it, because the statistics say that they will loose money on the deal

 

Wow talk about takin' it in the pooper, damn.
When I looked for insurance this spring I was appauled at the quotes.
Anywhere from $180 to $270.
Then I called progressive.
$75 a year, which is the lowest they have.
She kept adding coverage until it went over $75, all kinds of extra stuff.

 

Damn, that's cheeeeap. I still only pay ~$250 for $300,000 public liability.

 

Wow they screw you guys over in Canada with insurance. I am in New York and last year I insured my 1982 1100 maxim for $130 for the whole year. I am 19 and had just gotten my license before I got the insurance.

 

:lol: very true

Its tough to compare US bike ins and CANADIAN bike ins.
The rating techniques between the countries are almost like comparing an apple to an orange.

REASONS FOR INCREASED PREMIUM.
1)You deserve it!(Accidents, violations, credit problems, anything that makes you HIGH RISK)
2)They DONT WANT your business, trying to scare you away.
3)Other accident prone bikers driving the rate up with more incidents.