2021 insurance renewals | GTAMotorcycle.com

2021 insurance renewals

Iceman

Iceman

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Got TD insurance renewal today. Looks like the new t7 is going to cost me $623/year 2 mil liability, full coverage with increased accident benefits, the wife's gladius is now $693 same coverage.
Last year my versys was $586 and klr was $550, her gladius was $686. All had the same coverage as this year.
The biggest change with Td is the billing, it used to be 7 payments march to september for everyone. Suddenly its 7 months starting in January.
However they also offer 12 monthly payments as well which is new.

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Iceman said:
Got TD insurance renewal today. Looks like the new t7 is going to cost me $623/year 2 mil liability, full coverage with increased accident benefits, the wife's gladius is now $693 same coverage.
Last year my versys was $586 and klr was $550, her gladius was $686. All had the same coverage as this year.
The biggest change with Td is the billing, it used to be 7 payments march to september for everyone. Suddenly its 7 months starting in January.
However they also offer 12 monthly payments as well which is new.

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7 months starting in January is interesting. Obviously TD likes it because they get their money long before most of the risk is incurred but on the flip side, everybody that cancels gets a refund cheque instead of an argument about why they owe more money.
 
Iceman said:
Got TD insurance renewal today. Looks like the new t7 is going to cost me $623/year 2 mil liability, full coverage with increased accident benefits, the wife's gladius is now $693 same coverage.
Last year my versys was $586 and klr was $550, her gladius was $686. All had the same coverage as this year.
The biggest change with Td is the billing, it used to be 7 payments march to september for everyone. Suddenly its 7 months starting in January.
However they also offer 12 monthly payments as well which is new.

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I was offered the 12 month option when I was with them a couple years ago.
 
Relax said:
I was offered the 12 month option when I was with them a couple years ago.
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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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Well my 2021 Renewal came in for the bike, and a xmas miracle happened. No change! I believe that is the first time in my 20+ years of vehicle insurance I have had no change.
The details:
$1550 year, with Johnson (with college discount)
(mid 40's, Scarbrough, 2012 HD, Full coverage, 4th year of riding)
 
My bikes have remained close to the same this year with the cages raising slightly (about 10%). They jacked my house price though knowing that everything is tied together. Been calling around and might be Switching everything but the bikes to CAA.
 
Malks said:
Not happy with my renewal. Was already too high for a 65 year old with 40+ years of unbroken claims-free riding. Would like Iceman's quote of $623 / year. I've emailed my broker and asked them to sharpen their pencil.
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Try Wawa
 
Malks said:
Not happy with my renewal. Was already too high for a 65 year old with 40+ years of unbroken claims-free riding. Would like Iceman's quote of $623 / year. I've emailed my broker and asked them to sharpen their pencil.
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I threatened to cancel my insurance and they were happy to help. Would not even try to find a savings with the cars, bikes or house. This is a recurring theme every time, where they are willing to let go of $6K to someone with a perfect record.
 
Malks said:
Not happy with my renewal. Was already too high for a 65 year old with 40+ years of unbroken claims-free riding. Would like Iceman's quote of $623 / year. I've emailed my broker and asked them to sharpen their pencil.
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If I was you I'd at least get a quote from Td, their prices are very fair if you're not 25 on a ss. I also got very good quotes from Mitchell and Whale, had my z1000 with them.

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Iceman said:
If I was you I'd at least get a quote from Td, their prices are very fair if you're not 25 on a ss. I also got very good quotes from Mitchell and Whale, had my z1000 with them.

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I checked TD a few years ago and their rates were the same as my previous insurer, so I switched to Mitchell and Whale and they used Wawa to get a more reasonable quote for me. Since that time the premium has been creeping back up to the point where I'm again considering selling the bike.
 
Malks said:
I checked TD a few years ago and their rates were the same as my previous insurer, so I switched to Mitchell and Whale and they used Wawa to get a more reasonable quote for me. Since that time the premium has been creeping back up to the point where I'm again considering selling the bike.
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I believe this is a tactic insurers use, give you an attractive "intro" rate, then creep you up to the rate they want you at. You get tired of it dump them, quote with someone else, rise and repeat.
 
Malks said:
I checked TD a few years ago and their rates were the same as my previous insurer, so I switched to Mitchell and Whale and they used Wawa to get a more reasonable quote for me. Since that time the premium has been creeping back up to the point where I'm again considering selling the bike.
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Though the bike gets older each year, the cost to repair it and the rider increases annually. The reality is the overall trend is going upwards on just about everything in this world.

Avi
 
Trials said:
Try Wawa
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They are the worst company.

raised mine last year from $1072 to $1750. 63 year old rider with 49 years of riding without claim.

They provide a heavy discount if combined with home and car.

Had the house combined but cars are part of a fleet so they jacked up the house and bike and I said goodbye.
 
StoneRidge (Brantford) said:
Though the bike gets older each year, the cost to repair it and the rider increases annually. The reality is the overall trend is going upwards on just about everything in this world.

Avi
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Yep, and your brakes are not as good as when they were new and your suspension is not as good as when it was new, your wheel and chassis bearings might have more play in them then they did when new, and none of those repairs is a burden for your insurance company,
:/ but if you buy a brand new motorcycle, we are going to raise your rates because you are somehow a greater risk to yourself in the estimation of the insurance company.


.... Ridership is going downwards,
because our insurance rates are too high and options to purchase motorcycle insurance are dwindling.
 
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Trials said:
Yep, and your brakes are not as good as when they were new and your suspension is not as good as when it was new, your wheel and chassis bearings might have more play in them then they did when new, and none of those repairs is a burden for your insurance company,
:/ but if you buy a brand new motorcycle, we are going to raise your rates because you are somehow a greater risk to yourself in the estimation of the insurance company.


.... Ridership is going downwards,
because our insurance rates are too high and options to purchase motorcycle insurance are dwindling.
Click to expand...
Those repairs are all general maintenance. They have nothing to do with the repairs required when something sudden and accidental occurs.

If your brakes are at 70% and you have an accident and the brake assembly is damaged, they don't give you 70% brakes, you get new brakes in exchange for your old ones.

Avi
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