2021 insurance renewals | Page 5 | GTAMotorcycle.com

2021 insurance renewals

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bigguy1 said:
I am currently with economical. Was paying $890.00. new rate quoted is $1346.00. I’m 50 and drive a 2017 Suzuki M50. No accidents/tickets.

Did some shopping and was able to get the same coverage with TD for $739.00.
So I am switching.
Funny thing is I used to have all my insurance (house, cars, bike) with TD 3 years ago, but left when they jacked my rates. I was with them for 20 years. Seems to be no loyalty for customers.
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So weird. Economical was 1/2 the price of any other quote I got!
 
Iceman said:
I think it depends who the insurer is, I'm with TD General. Theres also Primmum and one other, requirements are different for all 3.

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This is key! I was with TD for more than 20 years, they took over Liberty Mutual I think. Then 5 years ago rates just shot up, so I found Allstate, surprisingly were cheaper for 2 cars and motorbike. Then it went from $650 by $200 increases each year, ended up higher than my car. So I called RBC and now at $850. I only have liability and no collision, 24 year old bike.
 
Sunday Rider said:
This is key! I was with TD for more than 20 years, they took over Liberty Mutual I think. Then 5 years ago rates just shot up, so I found Allstate, surprisingly were cheaper for 2 cars and motorbike. Then it went from $650 by $200 increases each year, ended up higher than my car. So I called RBC and now at $850. I only have liability and no collision, 24 year old bike.i was with Liberty Mutual until TD took them over in Canada. Rates were good as you say. Then boom. So I switched to economical, which was about half the cost, until this latest renewal.
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You are correct. TD took over for LibertyMutual in Canada. I started with them 35 years ago. TD was ok as well for about 10 years. Then as you say, rated went up each year for no reason. So I went to Economical based off some posts on this forum. They were half the price of TD. Until this renewal.
 
Great Thread. I was not expecting an increase for my 300cc bike this year due to COVID but surprise. The question i am bummed about speaking to TD is this how many kilometers do you drive - if I say 1000km I get a lower quote versus I put 5000km. The difference is 100$ for a year. Meanwhile S&Y have range <5000km or >5000-10000km. per year. Any advice on how this comes into play say if I put 1000km but in fact drove 1,786km before I had to *touch wood* call them for any reason. I have a no claim/no ticket driving record for both bike (8years) and car(14 years). I know i shouldnt falsify but i really dont know how much weekend riding i am going to do.

/dex
 
dexter said:
Great Thread. I was not expecting an increase for my 300cc bike this year due to COVID but surprise. The question i am bummed about speaking to TD is this how many kilometers do you drive - if I say 1000km I get a lower quote versus I put 5000km. The difference is 100$ for a year. Meanwhile S&Y have range <5000km or >5000-10000km. per year. Any advice on how this comes into play say if I put 1000km but in fact drove 1,786km before I had to *touch wood* call them for any reason. I have a no claim/no ticket driving record for both bike (8years) and car(14 years). I know i shouldnt falsify but i really dont know how much weekend riding i am going to do.

/dex
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How do they know how many km are on the bike on the renewal date to know exactly how many you put on during the period? Pick a reasonable number. If you're Vtom putting on 40K and you picked 1000, they won't be impressed. Afaik, it's not a hard line, it's an estimate.
 
That's what the agent on the phone told me but wasn't sure. The only way I can think of is if they look at the DMV renewal info where the kms are recorded during your renewal.
But the agent did mention that if I put 1,000 km and reach 3,000k call in and update the info and pay the difference in premium..
So my quotes are like this (full coverage)
M&Whale :1,100
Riders (echelon): 530
S&Y/aviva : 560 (combined bike/home,auto)
TD: 490 (1000Km) or 590(5000km)
NFP was about 500 I think

/Dex
GreyGhost said:
How do they know how many km are on the bike on the renewal date to know exactly how many you put on during the period? Pick a reasonable number. If you're Vtom putting on 40K and you picked 1000, they won't be impressed. Afaik, it's not a hard line, it's an estimate.
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dexter said:
That's what the agent on the phone told me but wasn't sure. The only way I can think of is if they look at the DMV renewal info where the kms are recorded during your renewal.
But the agent did mention that if I put 1,000 km and reach 3,000k call in and update the info and pay the difference in premium..
So my quotes are like this (full coverage)
M&Whale :1,100
Riders (echelon): 530
S&Y/aviva : 560 (combined bike/home,auto)
TD: 490 (1000Km) or 590(5000km)
NFP was about 600 I think

/Dex

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License plate renewal and insurance effective year are not likely aligned. Obviously if you stay with one company for a while, they can see if the average is off, but for at least the first year of a new policy, they would have trouble proving somehing was off.
 
1000 is the minimum, put that (y) none of their darn business anyway.
 
Trials said:
1000 is the minimum, put that (y) none of their darn business anyway.
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another FUN FACT: Motorcycles are rated as pleasure vehicles (unlike cars which are rated as primary modes of transportation) Just like a boat or snowmobile. The annual Kms are irrelevant and technically unlimited. 5000 km/ year is the amount that is supposed to be put in there as default but it should NOT affect the rate whatsoever. When an insurance company asks you the annual amount they are asking COMMUTING kms, which definitely needs to be known for an AUTO policy but not a bike. Again this is why you need to deal with a broker that KNOWS motorcycles.
 
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Billyard Insurance Group said:
If anyone wants a quote this year, feel free to give me a call at 647-209-0404 or send me an email with your details at matt@thebig.ca.

I'll do my absolute best to save you money.

Regards,
Matt
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The old game seemed to be loyalty to a company. The new game seems to be shopping around at renewal time as your current policy goes up.

Allstate was great when I first signed up but Matt has provided a much better quote this year. Thanks Matt


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$1,098 for me for a Kawasaki 2015 650cc sport-tourer full-cover, divided in 3 payment installments every 4 months. Do you guys think I'm overpaying? I'm 40+ with "M" since 2008 or 2009 living in Toronto. Clean record, no tickets.
 
Pegassus said:
$1,098 for me for a Kawasaki 2015 650cc sport-tourer full-cover, divided in 3 payment installments every 4 months. Do you guys think I'm overpaying? I'm 40+ with "M" since 2008 or 2009 living in Toronto. Clean record, no tickets.
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sounds high to me.... I pay about $850/year for my BMW S1000R. I can take a crack at it though, email to: moto@nfp.com
 
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