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Discussion Starter #1
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?
 

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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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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?
 

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Discussion Starter #5 (Edited)
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.

Are insurance companies required to pay your medical costs if you have an accident?



Tom
 

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Discussion Starter #6 (Edited)
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.
 

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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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Discussion Starter #8
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

Wow I thought Ontario was bad, that's crazy...............
$1400-$1600 is crazy talk for a TW.
 

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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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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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Discussion Starter #11
Talked to State Farm, they were bought out by.....Desjardain?..and can no longer just insure a bike on its own. They have two companies that they could get me insurance through, (the same two companies that the company that's currently insuring the bike went through, the cheapest of the two being Nordic, at around $1400) The said if the company doing my bike insurance now had to go through Nordic, their price would be the same. They could add the bike onto a car/house policy but won't give a ballpark price unless they do a full quote on both cars and the house.... I asked if it would be less than the $1400-$1600 with my current provider, and the best answer I could get was "Well, I really can't say for sure...."

Several places I've called have said, "Have you had your motorcycle license for at least 4 years? No? Have a nice day, we don't insure anyone that hasn't had their motorcycle endorsement for at least 4 years."
 

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Discussion Starter #13
If experience was actually a requirement, nobody would have ever gone to the moon, as they say.

I have yet to call anywhere that I wasn't met with the underlying tone of, "Ugh, the last thing we want is to sell motorcycle insurance..." It's as though there's enough bikes around that they know they HAVE to, but don't want to...so, "Quote 'em high.."

Oh, and worth mentioning, when they count years of being a licensed motorcycle driver, what they actually mean but don't say, is years of being an INSURED motorcycle driver. Their 'years of experience' are counted by years you were insured, not by years you were licensed.

*twitch* *twitch* ... then how do you get 4 years without being able to.. *twitch*

ugh.
 

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Oh, and worth mentioning, when they count years of being a licensed motorcycle driver, what they actually mean but don't say, is years of being an INSURED motorcycle driver. Their 'years of experience' are counted by years you were insured, not by years you were licensed.
Ya, that's what I figured. Which means you don't even have the "long plan" option of just getting your license 4 years before you get a bike and just sit on it. At this point it seems like you have to go find someone who has an insured bike, and live with them and get put under their insurance just to be able to ride. Which of course is silly for an adult to do.
 

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You guys are going through some s&(t up there. Hope it gets better for you. Does Hagerty sell insurance up there? They are normally used for antique/classic bikes. Maybe even higher? I haven't ever tried to use them, just heard of them.
 

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Discussion Starter #16
okay, well, I've been shopping for 2 months now, and have called places as far away as Manitoba. I've searched dual sport forums all over Atlantic Canada, reading insurance threads.... I'm glad I got myself worked into a lather this morning because I just found an insurance comparison thread on another dual sport forum and saw a couple people had insurance through Primmum, which bounced me to TD Insurance when I filled in my location as New Brunswick. Did the online quote thing, thought, "Okay, no way...." Called, spent some time with a helpful person, $351/year once I'm licensed in the spring, for the same coverage that I have been quoted $1400-$1600 at ALL the other places I've called. If I wanted to add collision on, it would be $514/year.
I'd say it's too good to be true, but I see lots of people from my province in that thread that went with Primmum/TD...so.....score.

I received a confirmation number and an email from my online quote, and after speaking to the rep, received a temporary account number to refer to in the spring after completing my course. I would cancel and switch right now, but they won't insure a non-licensed rider on a dual sport because the on-road portion of dual purpose trumps the off-road portion, so it's considered a street bike, and they can't insure someone on a street bike unless they have their motorcycle endorsement. In order to have theft coverage over the winter, I don't really have an option other than to keep rolling with the $1400/yr coverage I have now.
 

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Is there a way you can get house insurance to cover the bike for theft? Put it in the basment and say it's a custom built "straddling chair" that improves posture? :p

Insurance industry has it's ups and downs. Primmum/TD at one point was looking to axe bikes, I was with them and switched to TD because after I was with them for 4 years they out of the blue doubled my rates even though I had a clean record. Now, that was about 10+ years ago, and I have heard they offer the more competitive rates now. Change in policy i guess.
 

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Because it's got a VIN, and is considered to be a 'vehicle', it has to have a policy. Tried that. :)
.... VIN is stamped right? :p If it was riveted on like cars you could just pop it off for the next few months :)

You could send it my way for a few months, I'll keep it insured! Any mileage increase on the odometer would just be an optical illusion i swear!
 

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i just looked up what i am paying, $320 for 2 million liability and plate and $230 for fire theft etc. for a total of $550 for the year, but l only buy 8 months on the liability and plate, which is ok. the part that burns me is to insure my Yamaha 950 liability and plate is $1200 a year and the private part is $240, almost the same as the TW insurance. that seems ass backwards to me. i insure my almost new truck cheaper. and i have never had a claim or accident, no tickets for 25 years
 
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