2021 insurance renewals | Page 3 | GTAMotorcycle.com

2021 insurance renewals

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No auto-renewal for me. My policy would have taken effect in February, but I've already contacted my broker and cancelled the policy and the entire renewal package has been returned the mail.

I'm sick of being screwed over by the insurance companies in this Province and won't be riding this season. Will decide later if I'm going to keep the bike.
 
Malks said:
No auto-renewal for me. My policy would have taken effect in February, but I've already contacted my broker and cancelled the policy and the entire renewal package has been returned the mail.

I'm sick of being screwed over by the insurance companies in this Province and won't be riding this season. Will decide later if I'm going to keep the bike.
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Whaaat? That's so extreme.

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Iceman said:
Whaaat? That's so extreme.

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Maybe a little, but with the current situation it's looking like I wouldn't get as much riding in this season anyway. Last season I rode less than 3000km and this one will probably be the same. No rides to NY or VT last season and it's looking like the same this year. I just can't justify paying the ridiculous price with this situation. I'll keep looking around for a better deal but not holding my breath.
 
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Malks said:
No auto-renewal for me. My policy would have taken effect in February, but I've already contacted my broker and cancelled the policy and the entire renewal package has been returned the mail.

I'm sick of being screwed over by the insurance companies in this Province and won't be riding this season. Will decide later if I'm going to keep the bike.
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The problem is the age of your ST. Desjardins wants $700/yr for my 88 Hawk GT, but less than $600 for my 2015 Ducati 821 Hyper.
 
Relax said:
The problem is the age of your ST. Desjardins wants $700/yr for my 88 Hawk GT, but less than $600 for my 2015 Ducati 821 Hyper.
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Good point. I suppose saftey features/tech could play a part.
 
Malks said:
Maybe a little, but with the current situation it's looking like I wouldn't get as much riding in this season anyway. Last season I rode less than 3000km and this one will probably be the same. No rides to NY or VY last season and it's looking like the same this year. I just can't justify paying the ridiculous price with this situation. I'll keep looking around for a better deal but not holding my breath.
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No motorcycle coverage at all :unsure: not even a scooter, you might want to reconsider that if you hope to purchase motorcycle insurance in a few years time.
 
Malks said:
No auto-renewal for me. My policy would have taken effect in February, but I've already contacted my broker and cancelled the policy and the entire renewal package has been returned the mail.

I'm sick of being screwed over by the insurance companies in this Province and won't be riding this season. Will decide later if I'm going to keep the bike.
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Same here last year, been with Allstate for over 15 years. Last year My ST1100 was going to cost more than my car. So I shopped around and found RBC Insurance was cheapest, they use Aviva. Allstate wanted over $1k, RBC was $800, still awful as I was only paying $600 3 years ago, and no tickets or accidents. I also have a 1980 400 Honda twin, and they said it would cost around the same. So it isn't insured.
 
sburns said:
Probably because your renewal notice arrives in December when most people are too busy, and I would guess, forget about it or ignore it until too late, and boom auto renewal. Mine also came in earlier as well (not with TD).
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I did see the mail, checked the dollar amount, frig, the same, went back to sleep....didn't check the dates for $ withdraw.
Also, I didn't see my "sucker - forehead sticker" in the envelope...I'll check again.
 
KWDRZ said:
Even if my company offered such a thing I feel like I would rather spread it out over 12 months for smaller amounts than have it all in 7.

What is the benefit?
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Its just a clever marketing ploy to make people "feel" like they are paying for when they ride. The annual insurance premium is the same in the end. Some companies do 12 payments, 11 payments, some even split it into 3 or 6 payments.
 
NFP Moto said:
Its just a clever marketing ploy to make people "feel" like they are paying for when they ride. The annual insurance premium is the same in the end. Some companies do 12 payments, 11 payments, some even split it into 3 or 6 payments.
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Yes I know its the same in the end, thats why I was wondering why you would take on bigger monthly payments
 
Trials said:
No motorcycle coverage at all :unsure: not even a scooter, you might want to reconsider that if you hope to purchase motorcycle insurance in a few years time.
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Could it be any worse than paying a couple of years of over-priced insurance between now and then? After being insured for over 40 years of continuous riding, a year or two off shouldn't be a problem. But if I do decide to get back into it next season, or the year after that and the price jumps to an even more ludicrous price, then that will make the decision much easier.
 
Malks said:
Could it be any worse than paying a couple of years of over-priced insurance between now and then? After being insured for over 40 years of continuous riding, a year or two off shouldn't be a problem. But if I do decide to get back into it next season, or the year after that and the price jumps to an even more ludicrous price, then that will make the decision much easier.
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I can't remember the gap allowed, but lack of continuous insurance is brutal in Ontario. You could have ridden claim-free for 30 years, take 5 off and realize that you need a 250 for a few years to get your rates back out of the clouds.
 
GreyGhost said:
I can't remember the gap allowed, but lack of continuous insurance is brutal in Ontario. You could have ridden claim-free for 30 years, take 5 off and realize that you need a 250 for a few years to get your rates back out of the clouds.
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depends on insurance company. mine says 1 year, i've seen some say 6 months (riding season)
 
Circa 2014. ~$800 / yr (hayabusa).
Time off due to illness. (been paying ins / riding since the 70's).
2020. FJR. No insured bike(s) during time lapse. $1700. No claims.
It's 6 months at allstate, and back to square one.
 
Malks said:
Could it be any worse than paying a couple of years of over-priced insurance between now and then? After being insured for over 40 years of continuous riding, a year or two off shouldn't be a problem. But if I do decide to get back into it next season, or the year after that and the price jumps to an even more ludicrous price, then that will make the decision much easier.
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Well there you have it, a mature proven safe rider that is ready to give up riding motorcycles because the insurance rates are so stupid. He doesn't want to pay an extra 400 bucks annually on every vehicle he owns, just so he can have extended medical coverage that he will never see. I can relate to that.

:cool: Time to reduce the fleet and buy a competition dirt bike so you can keep your riding skills sharp.
 
I had that conversation with my insurance broker a few years back, I asked them if it seems reasonable to them that I should pay 2$ per kilometre for minimal coverage insurance on a vehicle I've insured for 30+ years :unsure: They seemed to be OK with that fee, just as long as I'm the one paying and they are the one collecting.
 
Malks said:
Could it be any worse than paying a couple of years of over-priced insurance between now and then? After being insured for over 40 years of continuous riding, a year or two off shouldn't be a problem. But if I do decide to get back into it next season, or the year after that and the price jumps to an even more ludicrous price, then that will make the decision much easier.
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Vintage insurance might be one way to maintain continuous history while still letting you ride it occasionally this year. Also, bundling your car and home with the same company makes a difference.
 
Sadly; if he's been riding for forty years you can bet he's already bundled,
and Vintage motorcycle insurance is Not a cheap alternative to regular motorcycle insurance coverage. It's a complete misconception that vintage insurance was ever created for that purpose. First problem is it requires a vehicle appraisal every 2 years minimum and Ontario classic motorcycle insurance is designed to insure those motorcycles over 30 years of age that have limited pleasure usage.
His bike is only 24 years old, he doesn't qualify to purchase an expensive vintage limited vehicle insurance package for another 6 years.
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