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post #1 of 13 Old 05-28-2013, 08:52 AM Thread Starter
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I used to be with Jevco for my bike insurance, which is now apparently HB Group Insurance a subsidiary of the Cooperators. Has anyone got their renewals from this company yet? How are the rates? I guess it's time to do some looking around.

Steve

Posted by ozart "Yep, there can be adventure with a bike without even riding it."
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post #2 of 13 Old 05-28-2013, 09:32 AM
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I'm mad as hell - unjustified increases suck !

I just got a heads-up from my local Jevco rep who works with JTV a local home grown business in Kingston. My rate will be going up about %25 with JEVCO which is their only source to broker MC insurance. I'm 62, and have been MC licensed since 1969 and never had a motorcycle claim; as well both my wife and I have the highest 5 star insurance rating wrt to our cars. I'll be attempting to shop for a new company BUT THE REAL PROBLEM is that banks are getting involved in way more things than they have staff or knowledge to support. As if banks aren't making enough profits raping us with service charges now they will sell me insurance for my Vstrom Insurance for Car, Home, Travel, Life & More | TD Insurance There are virtualy no competitors for bike insurance, possibly Riders Plus and if your're lucky maybe State Farm will add you MC onto an existing policy, but only afte they research your history and conclude that over your long customer relationship they have already made tons of profit.
The MC insurance has been allowed to become a monopoly and partly some MD riders are to blame for not supporting their local insurance companies who are willing and able to provide service.

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post #3 of 13 Old 05-28-2013, 09:40 AM
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Saskatchewan MC rates outa sight

Last summer I was alerted to some MC rates in Saskatchewan increasing by 100% and alerted my local TJV broker Welcome to The Insurance Centre
He knew or claimed to know nothing but did at least give me the courtesy of a heads-up a few months in advance of my August 31 policy renewal. They have had provided my MC insurance for nearly 6 years.

I hate to say it but it's time for some Canadian government regulation.

We should all contact our politicians and ready them for a campout on the lawns of parliament hill. It's a good place for the next Canadian Vstrom Get-Together.

Road Toads Charter Member - old guy goes stromabout on a 2007 Vee and finally has touched all of the 48 contiguous United states and the 10 Canadian provinces.
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post #4 of 13 Old 05-28-2013, 10:50 AM
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Question insurance premiums - Price Fixing?

Is it simply a case of price fixing in Canada?

“Price-fixing agreements, like other forms of hard core cartel agreements, are analogous to fraud and theft. They represent nothing less than an assault on our open market economy. Buyers in free market societies are entitled to assume that the prices of the goods and services they purchase have been determined by the forces of competition. When they purchase products that have been the subject of such an agreement, they are effectively defrauded.” ( Chief Justice Crampton )

I urge all of you to contact your insurance company ASAP and get the details before you are surprised at the last minute when you get a notice and don't have time to question before your coverage will expire. I believe that some companies take advantage of the deadline to renew or risk loss of coverage. Some of you may unfortunately get very surprised if you're using
pre-authorized monthly payments from your bank account !

Road Toads Charter Member - old guy goes stromabout on a 2007 Vee and finally has touched all of the 48 contiguous United states and the 10 Canadian provinces.
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post #5 of 13 Old 05-28-2013, 08:15 PM
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My Jevco renewal came in as Intact Insurance. It is about the same as last year. My deductible is now $300.00. I'm fairly sure it was $500.00 before.

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post #6 of 13 Old 05-28-2013, 09:03 PM
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I'm a newly registered rider. My insurance last year with my 90 day learner's was $1070.00 or so, this year with my M2 is $775.00 for the year. Not great but not bad, compared to some other areas... haven't heard about next year though

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post #7 of 13 Old 05-28-2013, 09:36 PM
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As Steve says... Jevco was bought out by Intact.... Just paid my insurance with them...

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post #8 of 13 Old 05-29-2013, 11:10 AM
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I"m with TD Bank Insurance. I switched from Jevco to TD , saved about $25 and that includes comprehensive which I didn't have with Jevco Motorcycle Insurance | TD Insurance
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post #9 of 13 Old 05-29-2013, 12:07 PM Thread Starter
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Well, contacted the insurance company today and they did confirm that they are taking over my business from Jevco (HB Group Insurance and COSECO Insurance). This may be just policies that were originally written from the Cooperators that are impacted, not sure.

The interesting part is that she indicated I may see a significant decrease from the Jevco price on the renewal policy. Her telling is that they are using old rates for this year (and only this year), and will bring them in line again next year.

The renewal notice was mailed out already so will wait and see what this has to say.

Steve

Posted by ozart "Yep, there can be adventure with a bike without even riding it."
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post #10 of 13 Old 05-30-2013, 05:38 PM Thread Starter
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All I can say is, wow. With Jevco I was paying around $553 a year for 1 mil liability insurance. With COSECO they have sent me a renewal notice for $297 I realise this will go up big time next year, but under $300 for a years coverage, that is awesome.

Steve

Posted by ozart "Yep, there can be adventure with a bike without even riding it."
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