I've made the decision that I will not be screwed over by the insurance industry in Ontario anymore. 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. Then, last fall I picked up a speeding ticket in my car. The officer reduced it to 15 over, so there were no points involved so I just paid the ticket. This resulted in Wawanesa feeling the need to add a 10% surcharge for that once in a decade brain-fart and my yearly renewal quote came in at $865 for basic liability only - no fire / theft, or collision coverage. I instructed my broker that I would not be renewing my coverage for this year if that was the best they could do. They didn't seem to care and allowed me to cancel the renewal offer.
I've since checked other companies and have received quotes anywhere between $900 and $1200 for the year. One insurance specialist had the nerve to tell me that any coverage that comes in less than $1/cc is a good deal. This fellow said he's a rider. With people like this in the insurance industry, we're screwed.
I'm done!
As much as I love riding, the cost of insurance has gone well beyond what I can justify for a pleasure vehicle that is ridden a couple of times a week. This year is looking like it will be a repeat of last year with travel being discouraged between regions and the border remaining closed. This will further reduce the opportunities to ride and result in less value for the cost of the coverage.
I have yet to decide whether I will hold onto my ST until I get a reasonable quote, or just sell it.
I've since checked other companies and have received quotes anywhere between $900 and $1200 for the year. One insurance specialist had the nerve to tell me that any coverage that comes in less than $1/cc is a good deal. This fellow said he's a rider. With people like this in the insurance industry, we're screwed.
I'm done!
As much as I love riding, the cost of insurance has gone well beyond what I can justify for a pleasure vehicle that is ridden a couple of times a week. This year is looking like it will be a repeat of last year with travel being discouraged between regions and the border remaining closed. This will further reduce the opportunities to ride and result in less value for the cost of the coverage.
I have yet to decide whether I will hold onto my ST until I get a reasonable quote, or just sell it.