Insurance costs - Stromtrooper Forum : Suzuki V-Strom Motorcycle Forums
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post #1 of 22 Old 12-17-2016, 12:37 PM Thread Starter
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Insurance costs

Hey everyone,

I just got a notice from Melonche Monnex that my insurance is going down for this season. That sounds good except that it's only going down $1.29/month (for 7 months) and they're taking away over $1 million in medical coverage in exchange for that! I guess there are new rules about minimum coverage that kicked in?

Anyway, can I call them and try to get a reduction, like you do with Rogers or Bell, or do I just shop around? They have our stuff bundled, so I'd rather not go through the hassle of switching insurers.

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Previously rode:
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'86 Suzi GS 1150EF
'83 Yamaha Maxim 650

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Last edited by T.O.YYZ; 12-17-2016 at 12:39 PM.
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post #2 of 22 Old 12-17-2016, 01:50 PM
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I tend to shop around every few years for insurance, to see if anyone has a substantially better deal.

As far as calling your current company, I don't bother doing things like that unless the service you have is controlled by a single company, like your cable service. It's tough to shop around when they're the only game in town. With so many people offering insurance, I'd rather check around and see what's available before I contacted my current insurer; that way, you'll know more about what the current market is like. If you decide to contact your current insurer to see if they'll make an offer, at least you'll have a reference point to know if their offer is ridiculous or not. I'd never let on to my current insurer that I was shopping around.

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post #3 of 22 Old 12-17-2016, 01:57 PM
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I just got a rate reduction with Progressive on both of my bikes. A lot of folks got hikes because they could not get access to their DMV records I found out. Once they got mine it fell. My 2014 DL1000 is now $352/yr for full coverage including $1000 Medical Payments. It was $398. I have an insurance broker and we go through everything annually.

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post #4 of 22 Old 12-17-2016, 03:46 PM
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Quote:
Originally Posted by SECoda View Post
full coverage.
that doesn't mean much without telling us your limits on liability & UM and deductibles on collision or comprehensive

my premium was $259/yr with Progressive for $250k/$500k/$100k on liability and UM, $100 deductible on collision and ACV on comprehensive

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post #5 of 22 Old 12-17-2016, 07:43 PM
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Ontario insurance is vastly different than US insurance for any of our US riders commenting.

Yes there have been changed to the way that your insurance is now charged. You should have received a package that specified exactly what the changes are. There are big changes to the way catastrophic coverages are handled.

My renewal was supposed to be through Cornerstone Insurance Brokers and the policy with Intact insurance. They were asking $947 as my renewal rate for the new reduced levels of coverage.
I did some reading and found that Paul South of Surnet Insurance Brokers came highly recommended. I gave him a call and his rate for the exact same coverage as my Intact renewal was $581/year. I then upped all the optional coverages to the max and it came in at $917 - now it's through Wawanesa Insurance which is a big, reputable company.

Call Paul South at Surnet and see what he can do for you.
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post #6 of 22 Old 12-18-2016, 10:19 AM Thread Starter
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There are a few Surnets out there. Do you know if it's Woodbridge, Brampton or Mississauga?

2014 DL650
Previously rode:
'97 KLR 650
'86 Suzi GS 1150EF
'83 Yamaha Maxim 650

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post #7 of 22 Old 12-18-2016, 10:49 AM
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On an unrelated topic, do you have cicada's in Toronto?
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post #8 of 22 Old 12-18-2016, 11:12 AM
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And Medical payments, zip code, and DMV record. Really you need all of the details. These are just ball parks.

Quote:
Originally Posted by OydnaR View Post
that doesn't mean much without telling us your limits on liability & UM and deductibles on collision or comprehensive

my premium was $259/yr with Progressive for $250k/$500k/$100k on liability and UM, $100 deductible on collision and ACV on comprehensive

2014 Suzuki V-Strom 1000 ABS (Candy Daring Red)
2017 Kawasaki Versys-X 300 ABS (Graphite Grey)
2013 Suzuki V-Strom 650 ABS Adventure (sold)
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post #9 of 22 Old 12-18-2016, 11:20 AM
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Quote:
Originally Posted by T.O.YYZ View Post
There are a few Surnets out there. Do you know if it's Woodbridge, Brampton or Mississauga?
Paul South RIBO
Surnet Insurance Group Inc.
50-1621 McEwen Dr. Whitby, ON L1N 9A5
Phone: 1-866-607-6168
Fax: 1-866-491-4002
Email: [email protected]
SurNet Insurance Group Inc - Home

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post #10 of 22 Old 12-18-2016, 11:24 AM
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And Medical payments, zip code, and DMV record. Really you need all of the details. These are just ball parks.
I read that, just pointing out that saying "full coverage" doesn't mean much, you could have full coverage with state minimums on liability and $1000 deductibles on the collision/comprehensive , you can't compare that rate one pays for that "full coverage" to the rate one pays for "full coverage" with liability limits that are 10 times higher and deductibles that are 1/10th

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