Won't Be Riding in 2021

[Bush]

Apparently your government sets your coverage amount, and rates, so certainly they will be higher. Knowing the required levels of coverage would allow a direct comparison.

I think my post #67 answered that. As I said, in British Columbia we can drive a car or a bike with just the minimum required liability insurance coverage of $200,000 - nothing else. Other provinces may have different minimum limits, but in today's world, only a fool would risk going cheap on that.

A friend who works as a fraud investigator for ICBC (our provincially run insurance corporation) says that insurance payouts for millions of dollars are not uncommon in serious accidents today and he recommends carrying 5 million in liability coverage.

 

[ad.hom]

...sensible stuff from a professional US driver...

Shawn, your situation genuinely sucks, having to be so careful all the time.

Here in the UK, 17mph above the posted limit is an automatic trip to a court room, regardless of your type of licence. The fine is then calculated as a percentage of your weekly income, then you get to pay victim surcharges (even if there was no victim) and court costs on top of the fine. If you're lucky, and you sufficiently beg to the magistrate, you get to keep your licence.

I know this, because I came from a 70mph area, late on the brakes into a 30mph area (in the car)... clear road, but I wasn't looking for the guy holding a laser hiding in a bush. He jumped out and tried to flag me down, but I was going too fast to stop in time, so I spun around and came back to hold my hands up. He showed me the laser gun that read 50mph. I was 3m into the 30mph zone when he tagged me. That cost me £1400 GBP, and my choice to hold my hands up immediately, according to the magistrate, is why I kept my licence and saved myself around £3000 GBP.

30s & 40s, I'll stick to the limit, anything more than that, I'll use fair judgement and take my consequences. Advanced courses I've been on with police officers have done exactly this, and haven't battered an eyelid while we've been offsiding into bends north of 100mph. If it's good enough for them, it's good enough for me.

To the OP... your insurance situation sucks too, and in your shoes, I would probably be thinking about selling the bike too. Thankfully, for us in the UK, insurance is still a customers market (too many companies selling it), so for my ST13, I currently pay £113/year (with a clean licence), declared for 25k miles/year commuting.

 

[Daboo]

My Father-In-Law is an independent insurance agent. I didn't know the difference between one of those agents and the other agents like Safeco, GEICO, etc till after we got married. It can be a lot for the individual.

A company agent, like one working for Safeco, GEICO, can only offer what that company sells. They can't shop around for a better deal for you. An independent insurance agent on the other hand, can shop among many lesser known companies...but ones that are still reputable...for the best deal for you. The company agent basically says, take it or leave it. The independent agent has it in his best interests to shop around to get you the best deal.

Chris

 

[HorST]

As a general comment the rate of govt intrusion in our lives is concerning.

but I would be happy with 865 a year

 

[Bush]

Do Canadian insurance companies allow you to "deactivate" your policy for the non riding months without canceling the policy?

Speaking again for just my province, no, but . . . we do get a rebate for the unused months and you can also buy a "storage" policy, that protects against fire or theft when the riding season is over. I've never done that. When the riding season rolls around again, you just get a new policy and in BC we can buy as little as 3 months of insurance at a time, with a slightly higher pro-rated premium for the short term coverage.

 

[HorST]

Hey Bush, the choices now are 3, 6, or full year no more custom ...

 

[Bush]

Hey Bush, the choices now are 3, 6, or full year no more custom ...

OK thanks. Didn't know they changed that, but I am looking forward to what my new rate will be this year, now that we have been promised up to a 20% reduction on the cost of basic insurance, with the changes the NDP have made.

 

[red one]

I would say it just pays to shop around. I haven't received my renewal for 2021 but for the last 3 years my motorcycle insurance has held steady at 50 bucks per year. I just fired my auto and home insurance that I had for the last 12 years. What a rush I got. To insure my Home and 1 car and SUV $998.00 per year. Allstate had me at $1,600.00 per year. Just think I saved $602.00 and it only took me less than an hours work

 

[ChriSTian_64]

Here in Quebec, that is also what I’m paying : about $ 1000, for my ST1100.

Here, they cut the insurrance amount into two distinct part. One, the biggest part, is included in the price of your licence plate. So, it is the province that covers you, for physical injury, should you become handicaped following an accident.

For the second part, to insure the value of your bike, and to cover all the other damages that you could do with it, for this, you are taking an insurance with your broker.

So, my licence plate costed me $660 plus taxes, and my bike insurance costed me… well, a bit less than $300.

So, in all, that’s about $ 1000.

And yes…. The season is short over here : 4 months and half, five at best

But, hey ! Whatever the price, I'll pay. It is still less expensive than a bi-weekly session with a psychiatrist.

Now, these days, I’m dreaming about buying an old Honda CBR1100XX Super Blackbird. That would be another $1000, since it is also considered as a sport tourer. But a CBR1000RR Fireblade, wich falls in the supersport (and super risky) category, would cost me double of that to insure.
.

 

[Ryan_B]

It does pay to shop around in the US. My home, cars and motorcycles are all with different insurance companies. I have been quoted a "bundle" policy from all of them, what one company beats in one department they can't touch in the other so it is always higher. I am somewhere in the middle of the group with the posted amounts, I am 36 and married though - which may help or hinder (I don't know).

One day I was playing with my deductibles on Geico and accidentally selected $200 deductible (mine were at $1000) for all my cars, to my surprise the entire policy went down upwards of 10%. I played around with the deductibles and tried each one and $500 was the most expensive, $1000 and $2000 it dropped fairly substantially, but the $200 was still the cheapest. I still don't know why (glitch, statistics?), but I selected it and no one has been able to touch that rate since. They do normally inch it up every year, but I call and waste an hour of my life arguing that the value of my vehicles has decreased X amount, why did my policy go up? Normally you have to threaten to cancel, they transfer you to a supervisor and they will drop it back down to what you are paying.

$72 per year liability only (Moto Guzzi) - Esurance
$364 per year full coverage (ST1300) - Progressive

I did find it interesting that in my area Geico was giving 15% back on premiums (account credit) due to the pandemic because they claimed mileage went down for all commuters.

-Ryan

 

[Malks]

Do Canadian insurance companies allow you to "deactivate" your policy for the non riding months without canceling the policy? I can deactivate my rv policy for a greatly reduced premium when not in use on highway. However I am forgetful and never use that option. I don't want to forget to activate the policy!

Not in Ontario. It's 12 months or nothing. Most companies have their motorcycle policies start in January or February and allow you to pay monthly. That way you have paid most of the policy before riding season even starts. Then, if you cancel near the end of summer there is very little of the prorated value left to refund, basically $0.
The entire industry in this Province needs to be revamped. Many previous and current Provincial governments have tried and failed miserably. The change to "No Fault" many years ago had the biggest effect on the motorcycle segment. Attempted changes which have following have only made the situation worse.

 

[cdnemsguy]

I'll trade my $99 a year policy . . . 100/250/100 plus comprehensive and collision at $250 and $500 . . . for a "free" national health plan?

Nothing really "free" in the world and the same goes for that. I can't speak for the rest of the folks, but income tax approximately 46% of your pay gone, then tax on tax, on already taxed items and services...Insurance is a fair stretch from the health care system here, as many are independent insurers and for profit, lots of profit.

 

[EuroPanUK]

Here in the UK the law changed a while back and if you are the 'Registered Keeper' of a vehicle then you have a choice to make.
If you want to store it/work on it/ leave it standing in the rain to rust or otherwise not put it on the road, then it MUST be insured, or registered under a 'Statutory Off-Road Notification', SORN.
The level of insurance is a choice too. The base level is called 'Act only' and is the legal Third party only minimum. Next up is 'Third party, Fire and Theft' and then the top one is 'Fully comp' correctly Full comprehensive, which is what the name suggests.
We also have a situation where insurance robbers offer to auto-renew your policy every year. I have in the past double-insured a bike and didn't realise for months. Luckily when I realised and explained to them they were content to pay back the premium after I proved it was insured elsewhere. I very rarely will insure with the same company more than one year, before changing. The conversation usually goes along with me asking for their 'best price'. I say thanks - I'll check other prices and call back. I check - find it cheaper and call back and they say - Oh OK Maybe we could do something to keep your business. I ask what and they offer to reduce the price, at which point I tell them they have lied to me since I asked for their best price and they now say the best price was actually lower. Is this call being recorded? Yes sir. Good - then you will realise that if you lie to your customers you can hardly expect them to buy your policy then. You are now on the naughty list. See ya!
I have actually had this work to my advantage too, when I explain past conversations at the renewal time.
I paid about £150 last year...
...but then I am in my late 60's! They think that makes me responsible!!!

 

[Ralf_CT]

After 40+ years of claims-free riding and over 20 years of unbroken insurance coverage on a motorcycle, the cost only continues to creep upwards.

Given your track record, imagine how much you would've saved had you cancelled your insurance 40+ years ago and put your monthly 'premium' into an interest-bearing account, just in case you ever need to 'claim'. Is insurance mandatory in Canada?

 

[Jeff F]

Given your track record, imagine how much you would've saved had you cancelled your insurance 40+ years ago and put your monthly 'premium' into an interest-bearing account, just in case you ever need to 'claim'. Is insurance mandatory in Canada?

Yes its mandatory. Self insurance isn't an option if its a registered vehicle i.e. licensed to travel on public roads or trails.

 

[CDNolddude]

Not in Ontario. It's 12 months or nothing. Most companies have their motorcycle policies start in January or February and allow you to pay monthly. That way you have paid most of the policy before riding season even starts. Then, if you cancel near the end of summer there is very little of the prorated value left to refund, basically $0.
The entire industry in this Province needs to be revamped. Many previous and current Provincial governments have tried and failed miserably. The change to "No Fault" many years ago had the biggest effect on the motorcycle segment. Attempted changes which have following have only made the situation worse.

I remember when they used to allow that in the 70’s. Only kept insurance on for 8 months a year for my cb350, then my cb550/4. Think they stopped that before I traded the 550 in on new 85 gl1200

 

[GGely]

I remember doing the same thing on my CB350, CDNolddude! Thanks for reminding me!

 

[GGely]

Seems to me the last 6 month premium I paid on that bike was $186...

 

[BrianB]

Hey you BCers, Get your rebate? I got 217.00 Bucks back. Yippee! Of course the big bike cost 780.00 for six months and the sidecar cost 600.00 for the same. Basic on both with a 2 mill liability. I carry a separate Cansure policy for collision and Comp. 1200.00 or so for both for the year. Throw in a couple sets of tires and a bike payment and this riding thing ain't so cheap. Good thing I ride one or the other to work every day, kinda have to, to justify them.

 

[Al st1100]

Indeed, it is. A while ago, I received a renewal notice for coverage for my three bikes - $3,421.
What annoys me most each year, is that the "accident benefits" portion of the policy is charged repeatedly, ie. on each vehicle you own, even though you can only drive/ride one at a time. That element of insurance ought to be part of one's driver's license cost. Aside from that, the continuous creeping of higher premiums is grating, to say the least. In my case, I didn't pay what they asked. Rather, I had them remove coverage on my VFR, but retained it on the Goldwing and the CB11. So I paid them $2180. Done. But not very happy. However, this situation does allow me to switch coverage from the CB11 to the VFR midway through the riding season. We'll see...

constantly changing the policy back and forth will drive them nuts. Another thing that will screw them up is by making time payments. so divide 2180 by 12 months =106.67 a month. but you want to pay it off early. now the bill comes for 106.67 so send them a check for 160.67 if they are in a hurry processing checks they see all the correct numbers there and didn't recognize the order it gets entered wrong. It screws up so many things down the line. My father in law was an accountant and had a dispute with a credit card and big oil. So every payment he made he just mixed up the numbers on payment due... he enjoyed the conversations with the big oil accountants with the canceled checks in his hand.