$5000 increase with Intact Insurance

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matthew said:
I've never been convicted of anything
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Me neither, but like I said, I found an at-fault on my record. It was a very long story that was basically the result of a fraud attempt - person involved in aforementioned incident (for which I was not charged or held at fault for) tried to put through multiple claims to multiple insurance companies. Like I said, long (and dirty) story. I highly doubt this is your situation in the end, but just tossing it out there as an example of unexpected **** causing havoc with insurance. Can't hurt to call and listen to their explanation.
 
It's very likely the policy was flagged for review and an underwriter noticed there wasn't a surcharge for the machine when it was originally underwritten.

Intact uses brokers and I believe some direct writing. I could be wrong.

But call your broker and see what they say.

The broker may throw intact under the bus but, I suspect when they submitted the policy originally, they figured they got away with one.

Some companies sour on certain risks depending on how the results go. And you see some take in bikes to build up their portfolio or drop it depending if they are losing or earning.

That's why it's good to shop around.

But I'm pretty sure they can't increase that much.

But they could come back with a reduced premium that is still way higher than your renewal amount.


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Intact lowered mine this year by $50, I was expecting the worse but it didn't happen. Sorry, I know that doesn't help you, but just so you know it's not everyone.

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matthew said:
32 year old male
1997 CBR 1100xx Blackbird
No claims ever. GM license. 13 years licensed for motorcycle.

Last year my insurance was around $1000. The renewal just came in today, $6,155



It's time to shop around.

Are there any brokers reading this that want some business?
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Hi Matthew, Can you give me a call tomorrow? I will be in the office from 10AM. 519-471-1900 Ext 5011.

Lets see if I can help you out. Shouldn't be a problem since you have been licensed so long and are over 30.

Looking forward to hearing from you.
 
I spoke with my broker. They were very very apologetic. It seems as though they were expecting my call and a few people at the brokerage were made aware of my file.

I was told that the bike was blacklisted to the sport bike surcharge was applied to the policy.

The broker said they would shop around on my behalf and I've been doing my own shopping.

I'm still not a happy camper, but at least there's some movement in a positive direction.
 
I still think it's silly that they would actively look for and black list a 20 year old bike. ..

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Boots said:
I still think it's silly that they would actively look for and black list a 20 year old bike. ..

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Blackbird HP in 1999= 164
Blackbird HP in 2016= 164 +/- 5 depending on condition.

Top speed 287Km/h


Those silly fools....
 
dina said:
Blackbird HP in 1999= 164
Blackbird HP in 2016= 164 +/- 5 depending on condition.

Top speed 287Km/h


Those silly fools....
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And the bikes of today? Unless of course they are doing a sweep of all super sports which would be news to me since I don't hear intact around this forum too much, I don't see why they'd go after a 20 year old bike.

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Boots said:
And the bikes of today?
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It has more HP than a Hayabusa, which is very much a 'bike of today', it just doesn't go quite as fast as the busa anymore, and by all reports the Blackbird has a much lesser braking system, so if you want to look at it from the the insurers perspective it's probably technically a higher risk vs "todays" blacklist bikes.

The rest of the numbers are clearly their primary concern vs age.

Nice bike though, I like the cachet behind it's whole premise.
 
It's not just bikes. My company liability for job-site insurance was going to double. Twenty five years with no claims or significant changes.
The reason is probably due to bad investment returns and then whole insurance company money stream gets turned inside out and reworked. They only want to insure things that are unlikely to cause a claim. If you have a 12 ton granite boulder in your backyard fire and theft insurance for it is probably cheap.
 
I had a company blacklist my V65 Magna and then my 1000cc Concours before, some companies don't want to insure many bikes, or only certain ones.
 
If an actuary identifies commonalities of past claims experience and what they have on the books as a liability, they will either adjust the premiums or eliminate the risk altogether.

It just so happens there ate excellent policy holders that end user get terming pushed out based on those projections.




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Strange. My bike is 30+ years old, and I'm in my early 30's.
Intact insurance stayed the same. $630 for the year. I have nothing else with them.

Sorry to hear OP. Maybe it's the "we don't want your business on our system" price.
 
OP, is that the only vehicle/thing you have with Intact or do you have a house and car(s) there too?
 
Try the Co-Operators. I am with them. Outright they say they won't insure motorcycles, but I have everything with them. They say they review on a case-by-case basis with the underwriters to determine if they will. I'd say your profile would be insurable.
 
My profile with Intact is "insurable" but it's not affordable. I'll contact Co-Operators.
 
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