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Insurance Ontario

Discussion in 'Hangout Lounge' started by Craig B, Apr 4, 2019.

  1. Craig B

    Craig B Active Member

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    Any suggestions for a cheap insurance company?
    Been insured with current broker for years. No accidents no claims and the rate is getting out of control.

    Any input appreciated.

    Thanks
     
  2. dkavanagh

    dkavanagh Well-Known Member Premium Member

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    For comparison, I get a rate of $85 a year from Progressive, but they are just in the US.
     
  3. Craig B

    Craig B Active Member

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    Eighty five dollars a year?!!
    Best I have found is 700.00 for the year which is maybe 5 months in reality.
    Wow.
     
  4. Chitwood

    Chitwood Well-Known Member

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    I'm at just under $250 per year with progressive. Must be something to do with not having my endorsement for very long because my driving record is clean
     
  5. dkavanagh

    dkavanagh Well-Known Member Premium Member

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    Some factors... I've been accident free for quite some time (knock on wood). I'm 52 as well. I also don't have much riding experience... 3 years.. I get a price break when I've been riding for 5 years, I'm told.
     
  6. Simmy

    Simmy Well-Known Member

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    I live in Ontario to, there is no such thing as a cheap insurance company.
    My motorcycle premiums have almost doubled in the last 5 years for no good reason.
    As we don't discuss politics here, that's about all I can say.
    I share your pain

    that barely covers the annual license plate validation sticker in Ontario.
    I pay for a 2 year sticker and that is $84.00.
     
  7. raskal

    raskal Active Member

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    in B.C. we have government mandated insurance (ICBC). I pay $400/yr for insurance and registration. It's only this cheap because it's a collector motorcycle. If the bike was younger than 25 years old, I'd be paying close to $1000/yr
     
  8. Craig B

    Craig B Active Member

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    I've been riding and insured since I was 18 about to turn 51.
    No accidents etc.
    Ontario (Canada) = screwed. I guess.
     
  9. Chitwood

    Chitwood Well-Known Member

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    Here in Wisconsin I believe 2 year registration is $24 or close to it. It comes in the mail, I write a check and mail it back so I could be wrong on that.
     
  10. MattiThundrrr

    MattiThundrrr Not a guru

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    Rider's Plus Insurance out of Toronto was fairly cheap when I was riding, but that was a Honda Rebel, which was only 250cc. They specialize in motorcycle insurance. Regardless, it was less than half the rate my local insurance was able to offer, and I've been with them for over a decade, and have home, two cars, and business insurance through them.
     
  11. Craig B

    Craig B Active Member

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    Thanks. I tried them too. More than my current insurer. Not by much but still more.
    I have heard insurance companies in Canada do not even want to offer policies for motorcycles but something really needs to be done about this.
    If the costs in the US are 10% of what we have to pay these companies could lower their rates significantly.
     
  12. Simmy

    Simmy Well-Known Member

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    Craig I'm not sure if you're a CVMG member, I copied this thread from that forum. I would have just included the link but it might not work without signing in, might need to be a member. Just saying you're not alone, we are being ripped off.

    thread begins;


    I would like to know what CVMG members across Canada are paying for vintage motorcycle insurance. Reason being I just received my insurance notice for next year (I am in Ontario). I have two vintage Nortons on it , plus a 2008 Suzuki V-strom. I made no changes on my end from last year, but Dalton Timmis took away two of my discounts and pushed my premium up $500.00 from $1300.00 to $1800.00 a year!! We have “no fault insurance in Ontario and I blame it for the runaway motorcycle insurance costs in Ontario. Our Ontario government has told us for the last ten years that they are making insurance companies cut rates , but the insurance companies seem to be cutting their coverage payouts and raising their rates at the same time!! Maybe we are going to have to start blocking major highways to get the government’s attention, like some other groups are doing. Lets hear what people in other provinces are paying. Thanks for letting me rant!



    Ross...... I have three Honda cb750’s that were insured on an old State Farm policy. 1971, 73, and 74. Just became Certas. Incredible reasonable ($196- and two at $287 each). I never had to supply and appraisal, so probably under insured. From memory, under $4000 didn’t need one..... they now don’t do anything newer than ‘69, so my 1977 Benelli SEI is with Dejardin and about $700/ year. That bike is appraised at a silly number, so reasonable?

    Here’s the kicker: my wife and I have two, 9 year old Kawasaki KLR650s. For nine years, insured with our autos. Suddenly the jerks “don’t do motorcycles”. Period. It was late Fall, so I just parked them and saved 6 months insurance. Now i’m getting ready to shop around and discovering some companies don’t do “dual sports”! What nonsense. I think I’ll sell them......




    I am with Aviva through Dalton Timmis. They took away 2 of my discounts as well. I have 2 bikes insured with them. A 1970 Commando and a 2000 Buell Cyclone. Perfect record, no claims, 63 yrs old. The commando costs me $371 (appraised at $8000.00) but the Buell which is insured for it's purchase price of $4500.00 costs me $2100.00 because it's classified as a big bore sport bike. Guess they figure I can't control myself when I get on it.




    My premiums just went up 50% on a 1981 Electraglide with no traffic violations or accidents.
    I don't feel any pity for DT as it's a multi-million dollar profit generating enterprise.
    If we keep paying such absorbent rates for bikes that are only used on weekends for a couple of months a year, we are encouraging these greedy companies to carry on doing the same thing.
    If everybody parked their bike for a year and the insurance company profits were 100% of nothing,....that would open some eyes.
    Looks like Home For chrome is going to be my garage this year


    I was with RBC for 9 years under Aviva (RBC underwriter ) the last few.Last years they raised my rates by 30% .When I asked why. no reason was given to me.
    I switched to Dalton with a different underwriter.
    I spoke with Kirk Norris ( State Farm ) from Peterborough today about my 31 Ariel. It seems they no longer take motorcycles but refer them to Dalton. Some of us are grandfathered in.
    They do agree vintage motorcycles owners are paying too much when compared to Classic cars.
    Some owners already have had their insurance go up by $500
    Time for change in Ontario.
    Time for the CVMG to get involved again



    Not sure if everyone has been checking their emails. A survey was recently sent out inquiring about insurance to all the Ontario membership. I have just compiled the report and submitted it for publication in the next CVMG News. 99.3% indicated that action was needed. Already 61 members have offered to work on a committee to address these concerns. I don’t have time to go over all of the report now but simply to tell you that 97% would switch if better rates could be established. We’re just getting out of the starter’s gate and probably are too late to address the rates this year. I think we have some very sound arguments for better rates including the fact that 96.39% have not filed a claim in the last 10 years. Couple that with the fact that the average owner drives their vintage bike less than 2000 kilometers, you can see that we are being taken advantage of. The overall results are quite staggering and I think we have a very sound business case. &2% said they would switch all of their policies – home and auto, if the insurance company would provide better rates. With this kind of data, we only need to convince one insurance company that they stand to gain a lot of business and still make money.

    I would ask that anyone who is interested to come on board and work on the committee. It will take a lot of work and a variety of skill sets to take on these big corporations. It isn’t the brokers that make the policies just like the car dealers don’t build their cars. With a united voice we should be able to effect positive change.




    Thanks for all the input from the group. I have approached other insurance companies for a quote on insurance and have been basically told I would have to bundle my insurance (autos and house,) with the bikes to get a better rate. I have done this with three different insurance companies and will report back here my findings. As for the CVMG's insurance survey, some how I missed it when it first come out and by the time I found it and checked it out it was shut down. Thanks again for the interest shown on this important subject!
     
  13. Craig B

    Craig B Active Member

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    Found a reasonable insurance policy. Thanks Mattithunder.
    Riders Plus Insurance! Ridersplus.com
    Cost 590.00 down from 885.00 with the company I've been with for years.
    Anyone in Ontario is advised to check them out.
     
    Last edited: Apr 24, 2019
    MattiThundrrr likes this.

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