My rant for the day - Insurance in this province
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Thread: My rant for the day - Insurance in this province

  1. #1
    Senior Member GCFishguy's Avatar
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    My rant for the day - Insurance in this province

    Was just talking to a co-worker. Young couple, the husband is a doctor.

    Him: Early 30's, has had 3 insurance claims in the last 5 years (none his fault), last year strolls over to Audi, buys a new (2016) R3, $65,000 (CAD). Full coverage, $1000/year.

    Me: Later 40's, clean driving record, no accidents or claims, buys a $3500 2015 TW that won't hit 105 km/h to tool around with on weekends. Liability and fire/theft ONLY, $1400/year with the condition I only drive it off-road until I get my license in the spring, at which point the liability and fire/theft jumps to $1600.

    I might as well buy a new Audi R3 and put knobbies on it....will be cheaper in the long run.


    Full coverage on a brand new Audi R3 is less than bare-ass coverage on a trail bike. $1000 for everything on an R3, $1600 for the bare minimum on a frikkin' TW. And if I opt not to pay for insurance and run without it, *I'm* the criminal?

  2. #2
    Senior Member Dryden-Tdub's Avatar
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    Quote Originally Posted by GCFishguy View Post
    Was just talking to a co-worker. Young couple, the husband is a doctor.

    Him: Early 30's, has had 3 insurance claims in the last 5 years (none his fault), last year strolls over to Audi, buys a new (2016) R3, $65,000 (CAD). Full coverage, $1000/year.

    Me: Later 40's, clean driving record, no accidents or claims, buys a $3500 2015 TW that won't hit 105 km/h to tool around with on weekends. Liability and fire/theft ONLY, $1400/year with the condition I only drive it off-road until I get my license in the spring, at which point the liability and fire/theft jumps to $1600.

    I might as well buy a new Audi R3 and put knobbies on it....will be cheaper in the long run.


    Full coverage on a brand new Audi R3 is less than bare-ass coverage on a trail bike. $1000 for everything on an R3, $1600 for the bare minimum on a frikkin' TW. And if I opt not to pay for insurance and run without it, *I'm* the criminal?
    Are insurance companies required to pay your medical costs if you have an accident?



    Tom
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  3. #3
    Senior Member CS1983's Avatar
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    That's crazy. I have two bikes insured for a little over $100 a year.
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  5. #4
    Senior Member Motoad's Avatar
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    I dont' see the need to go whole hawg on the ins. package for the Tdub. Here in BC I pay $300 a year for basic which is plenty. got the safe driving and seniors rate and tend not to tell them the whole truth and nothing but the truth. Someone on Facebook did just post an article stating ICBC is talking about a 45% rate increase. WTF?
    Last edited by Motoad; 11-25-2016 at 06:52 AM.
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  6. #5
    Senior Member GCFishguy's Avatar
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    Short story. no, that's covered by Medicare. Could there be some after the fact lawsuits and so on, yes...but they're rare. Now and again you hear of someone "finally getting that $2500 from my car accident 4 years ago..". And chances are the insurance companies would have to cough up for physio, and stuff. Honestly, I don't know enough about it to be able to name off the ins-and-outs.

    I'm just a guy that wants to be able to hop on an underpowered bike and putt through the woods on a Saturday. Which, you know, is exactly the same as the guy I was talking to yesterday with the sport bike that he often twists out to nearly 300km/h, on public roads.

    Quote Originally Posted by Dryden-Tdub View Post
    Are insurance companies required to pay your medical costs if you have an accident?



    Tom
    Last edited by GCFishguy; 11-25-2016 at 06:58 AM.
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  7. #6
    Senior Member GCFishguy's Avatar
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    I moved from NB to BC a bunch of years ago. I had a Zuki that wasn't worth ten cents and I had the bare legal minimum coverage on it to be on the road. Moved to BC, bought a brand new Civic put FULL coverage on it, was still way less than the Zuki had been costing in NB.

    As for whole hog.....you can't just put fire/theft on it. You have to put liability on, THEN you can add fire/theft on top of that. So, the only way I can even be covered if someone cuts the lock off the shed and steals it, is to shell out the cash for liability ($850) THEN add the $700 fire/theft on it after.

    I had kind of accepted that I was going to get bent over the first couple years, but today, after listening to the $1000 that the doctor is paying on a $65,000 R3, I lost it.

    The other thing is, it's not optional. Get caught without insurance out anywhere in a trail...might as well sell the bike and hope it will cover the fine.
    Last edited by GCFishguy; 11-25-2016 at 07:01 AM.
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  8. #7
    Junior Member smith's Avatar
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    Wow I thought Ontario was bad, that's crazy. I haven't gotten around to picking up a TW yet but my quote was for around $200 full coverage. Which sounds about right, because I was paying $700 a year for my 2003 YZF-R6. That's with State Farm who have had the best insurance rates for me for motorcycles. Plus our agent is freaking awesome. State farm insures by CC (and they knew a 599 CC is a 600, doh :P ), they don't even care about price of the bike or type! At least, they didn't for me. Just for giggles i asked what I'd pay for a Ducati 1098 vs a Ducati Desmosedici RR. The desmo was cheaper to insure at about $1200 full coverage despite the fact it was a $97'000 bike. Yes, ninety seven thousand dollars Canadian.... wife didn't agree that the insurance savings justified the purchase unfortunately

    $1400-$1600 is crazy talk for a TW.
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  9. #8
    Senior Member GCFishguy's Avatar
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    And it's not like I grabbed the first price and ran with it. Anywhere I call (and I've called a PILE) was within a few dollars. I did get an unofficial quote from The Personal in Ont (or Quebec..not sure) and they have a group discount for the company I work will (Bell). $766, full coverage. BUT, they won't insure just a bike. I'd have to bring a car. Checked, comparable coverage for my car with them was $200 more than I'm paying now . the math works, right? No....if I remove a car from our current provider (have 2 cars and the house with them), we lose our multi-vehicle discount, which works out to 28% right off the top. grrrr

    Quote Originally Posted by smith View Post
    Wow I thought Ontario was bad, that's crazy...............
    $1400-$1600 is crazy talk for a TW.
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  10. #9
    Senior Member ejfranz's Avatar
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    In the lower mainland in BC we pay a higher premium. My 10 year old Dmax cost me ~$1800 a year for pleasure use and that is the price after my 40% discount. My TW with almost the bare minimum insurance ($1 million liability) and no theft or comprehensive cost about $420 a year again that is with my 40% discount. My Wee with higher deductibles cost more than my truck. It is just not NB that has insane insurance prices.
    And ICBC is asking for a 5+% increase each year for the next 4 or 5 year.

    Motoad pays less as he is not in the lower mainland, but again way too much.
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    2001 TW200 sporting a MT43 up front. Duro has gone to a good home. 2015 VStrom XT, 1996 DT 200, Broken 2010 Xingue 400 XY. 2009 WR250r now shared with my son.

  11. #10
    Junior Member smith's Avatar
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    Ya, it's all a big scam. My roommate wrote off a bike when he first started riding, the rate increase after the claim was so high that he essentially paid off the bike 3 times by the time it cleared off his record.

    I know two people who were quoted around 7000 a year for a sportbike. which we thought was crazy, since it's only a 5k fine for being caught WITHOUT insurance :P
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