StromTrooper banner

41 - 60 of 87 Posts

·
Registered
Joined
·
41 Posts
BrianS

Without looking I could guess you were in Ontario. When I moved here from the west my first insurance quote was 7 times as high!

I've been running TD Meloche Monnex insurance for years and I can't seem to beat their prices. Definitely shop around. Those crooks just rob us thanks to the provincial government. Do some research and write some letters. There is a petition out there too.

Can't wait for the new world insurance to come around (companies like Lemonade) and undercut the old dinosaur industry.

I could also rant all day about this topic :p

Codylink
I also have TD Meloche Monnex insurance for both my bikes and they are by far the cheapest insurance I could find.
 

·
Registered
Joined
·
177 Posts
I live in BC and haven't had a claim in over 15 years. Due to the "financial dumpster fire" at ICBC they were reworking everything, going no fault, etc.

The claim is that all this will save us good drivers money, but I have 3 vehicles and 2 motorcycles and EVERY SINGLE policy increased this year. PHUCK ICBC.
 

·
Registered
Joined
·
25 Posts
I also have TD Meloche Monnex insurance for both my bikes and they are by far the cheapest insurance I could find.
I have TD insurance on my home, 3 vehicles & 2 ATVs, but they were $400. more than Desjardins for my Strom!
Edited to add, my residence is in Hastings County, Ontario
 

·
Registered
Joined
·
14 Posts
I have 3 vehicles and 2 motorcycles and EVERY SINGLE policy increased this year. PHUCK ICBC.
Out of curiosity, a few months ago I called a family friend who is an insurance agent in Alberta and had him do me up a quote for my bike, my car, my truck and my boat trailer. All 4 were the same price as just my truck in BC this year. (25 years driving, no accidents, no tickets).
 
  • Like
Reactions: BrianS

·
Registered
Joined
·
745 Posts
As to why motorcycle insurance in Ontario is so expensive, it's not the cost of motorcycles or fixing them.

The great majority of my premium is for the mandatory coverages - liability, accident benefits.

Example. The total premium for my R1200RT is $987. Of that:
Mandatory:
Bodily Injury: $159
Property damage: $19
Accident benefits: $480
Uninsured automobile: $13
Direct Compensation - Property Damage: $48

Optional:
Comprehensive: $119
Collision: $70
Family Protection: $79

So $719 of that is the mandatory coverages and have nothing to do with fixing my bike if it should be damaged in an accident.
And the largest part of that, by far, is the "Accident Benefits", which will provide income replacement (in a pretty limited amount) for the rest of my life if injured seriously enough.
 

·
Registered
Joined
·
311 Posts
As to why motorcycle insurance in Ontario is so expensive, it's not the cost of motorcycles or fixing them.

The great majority of my premium is for the mandatory coverages - liability, accident benefits.

Example. The total premium for my R1200RT is $987. Of that:
Mandatory:
Bodily Injury: $159
Property damage: $19
Accident benefits: $480
Uninsured automobile: $13
Direct Compensation - Property Damage: $48

Optional:
Comprehensive: $119
Collision: $70
Family Protection: $79

So $719 of that is the mandatory coverages and have nothing to do with fixing my bike if it should be damaged in an accident.
And the largest part of that, by far, is the "Accident Benefits", which will provide income replacement (in a pretty limited amount) for the rest of my life if injured seriously enough.
yeah but i can only seriously injure myself on one bike at a time.

if i only had to pay a couple hundred for additional bikes, I'd have to buy a bigger house.
 

·
Registered
Joined
·
745 Posts
yeah but i can only seriously injure myself on one bike at a time.

if i only had to pay a couple hundred for additional bikes, I'd have to buy a bigger house.
I know, I'm paying another $521 for my KLX 250.

No, I don't like it, either. But what can you do?
But if it wasn't for the government mandated insurance (why do you have to be insured separately for income replacement and medical treatment for MVAs, but not anything else?) If I break my neck riding my mountain bike, my treatment will be covered by OHIP. Also, I already have disability insurance through my employer, so why do I have to pay for (inferior) "accident benefits"?
 

·
Registered
Joined
·
1,151 Posts
I know, I'm paying another $521 for my KLX 250.

No, I don't like it, either. But what can you do?
But if it wasn't for the government mandated insurance (why do you have to be insured separately for income replacement and medical treatment for MVAs, but not anything else?) If I break my neck riding my mountain bike, my treatment will be covered by OHIP. Also, I already have disability insurance through my employer, so why do I have to pay for (inferior) "accident benefits"?
These are very good questions.
I suppose some of it has to do with risk factors based on claims history of specific brands, styles, locations, ages etc., wich vary greatly across demographics.
I agree that it would be nice if those of us who have good work related coverage had a way to opt out some of the mandatory coverages in vehicle insurance. The basic income loss benefit is $400/week. I pay $240/yr more to top this up to $800/week, but my renewal is in a couple of days and I think I will drop that due to excellent work coverage.
The multiple bikes thing in Ontario is pure nonsense.

I have been in a few good incidents and do appreciate the aftercare we receive. Being out of work for a year and having my income covered and full rehab paid for regardless of the other driver's financial position is certainly helpful.
 

·
Premium Member
Joined
·
2,159 Posts
The multiple bike/income coverage thing is a problem in Saskatchewan as well!! Not likely to change regardless of how illogical it is. That would be analogous to abolishing a tax after it has been instituted.
 

·
Registered
2003 Suzuki V-Strom DL1000
Joined
·
375 Posts
This is getting really stupid. I've been riding for more than 20 years with full M licence. I signed with Allstate back in 2018 with combined auto and property insurance. My bike premium (2014 Vstrom 1000) went up more than $300 per year and that's with no tickets, accidents or claims. I asked my agent what a h**l is going on, he said it's a blanket increase across all motorcycle policies in my city area. I know it's pure bs....I'm thinking of selling this bike and getting something REALLY small .... ok, I'm done with the rant.
Your first mistake was to go with Allstate in the first place. Second why would you sell your bike without shopping for better insurance. I don't know if Progressive writes insurance in your area, but found them to be the best prices here in Washington State USA for both my DL1000 and car.
 

·
Registered
2003 Suzuki V-Strom DL1000
Joined
·
375 Posts
BrianS

Without looking I could guess you were in Ontario. When I moved here from the west my first insurance quote was 7 times as high!

I've been running TD Meloche Monnex insurance for years and I can't seem to beat their prices. Definitely shop around. Those crooks just rob us thanks to the provincial government. Do some research and write some letters. There is a petition out there too.

Can't wait for the new world insurance to come around (companies like Lemonade) and undercut the old dinosaur industry.

I could also rant all day about this topic :p

Codylink
Wow I am never surprised to hear about the prices you folks up north have to pay for things. It's just seems crazy to me...
 

·
Registered
2003 Suzuki V-Strom DL1000
Joined
·
375 Posts
The same happened to me. I shopped around and got a very good deal. It seems the longer you stay loyal to an insurance company, the more they hose you in Ontario.
So change companies. If these companies keep losing customers they will adjust their pricing.
 

·
Registered
2003 Suzuki V-Strom DL1000
Joined
·
375 Posts
I guess everyone has a story to tell. I have had Allstate for over 15 yrs., two vehicles and house, and very happy. They go up a few bucks on homeowners each year, but so does the property value, so that's fair.
About 10 yrs ago, my wife was rear ended in the car, by the driver for a local trucking company. The damage was slightly below my deductible amount, so the insurance company had no financial stake, but they leaned on the trucking company and got them to pay off when the owner was stonewalling me.
I later heard from a friend who is a motor cop, that "all their drivers are a$$holes". I guess the traffic cops would know.
So Allstate did their job and fought for you. Wow! The other driver's insurance had the obligation to make you whole again through their liability coverage.
 

·
Registered
2003 Suzuki V-Strom DL1000
Joined
·
375 Posts
You wont find that anymore! They are billions in debt. We are moving to a 100% no fault system this fall for better or worse, and the changes they just made to rates for new drivers are insane. If you are getting your first car, expect $6000/year for insurance on a bucket of bolts. BC is ready to kick them to the curb.
$6000 a year is just insane.
 

·
Registered
2003 Suzuki V-Strom DL1000
Joined
·
375 Posts
I agree but I also would chose no other place to live. For the little bad there is there is still and overwhelming amount of great!
I totally agree with your comment, unfortunately that all may be changing right before our eyes. The political climate here in the US these last few months gives this old man some real fears of what the future has in store for the US,
 

·
Registered
Joined
·
1,151 Posts
Wow I am never surprised to hear about the prices you folks up north have to pay for things. It's just seems crazy to me...
I personally find it okay considering the excellent quality of life we have. Could some things be improved, sure, but on the whole Canada is an incredible country to live in.
 

·
Registered
Joined
·
3,614 Posts
What is the penalty for driving w/o insurance in BC? Unless its more than $6,000 or jail time for a 1st time offence you'll probably see a spike in uninsured drivers.
 

·
Registered
Joined
·
311 Posts
What is the penalty for driving w/o insurance in BC? Unless its more than $6,000 or jail time for a 1st time offence you'll probably see a spike in uninsured drivers.
in ontario it used to be $500 but they eventually caught on and raised it to $5000.

i believe they're talking about a first time driver, probably alone on a car. most teens start out as occasional drivers on their parents cars for a better rate. if a new driver gets a few tickets though, yeah $5000+
 
41 - 60 of 87 Posts
Top