Can insurance quote me a price and then cancel after i sign? | GTAMotorcycle.com

Can insurance quote me a price and then cancel after i sign?

Dr.Manhattan

Dr.Manhattan

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I went ahead with Wawanesa cause they gave me a good motorcycle quote. I bought the motorcycle, was issued a temporary insurance card and transferred the motorcycle over in my name.

Now I got an email saying they dont insure sport bikes and they are severely hiking up my insurance costs and going with another company. Can they actually do this after I signed the contract with them? They had the VIN and everything.
 
This sounds like a problem with your broker, not Wawanesa really. You are unlikely to get the insurance you were originally quoted on from any broker. On the other hand, you are not obligated to accept the other policy from the broker and can shop around for something from someone else
 
I guess she did. Not sure how when I gave the VIN number and everything and we went back and fourth for over a month. Insurance in Ontario is such a joke.
 
Back and forth over a month? Wawanesa? The name of this broker doesn't start with an S does it?
 
Dr.Manhattan said:
I guess she did. Not sure how when I gave the VIN number and everything and we went back and fourth for over a month. Insurance in Ontario is such a joke.
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What bike is it, how long have you been riding?
 
TwistedKestrel said:
Back and forth over a month? Wawanesa? The name of this broker doesn't start with an S does it?
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Nah starts with an A lol.

Evoex said:
What bike is it, how long have you been riding?
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It's a 2010 Hayabusa. Been riding for awhile. Had my M2 years ago and let it lapse. Went and got it again 3 years ago and got the newish bike. Crazy how insurance is changed. Even when I bought my R6 with an M1 just 12 years ago I was paying like $50 a month. Then a Honda 600RR with my M2 was $75 a month and finally I had a 2001 Hayabusa just 8 years ago at maybe $100 a month through TD insurance. Now they want $3700 a year 8 years later. It's pretty obvious Ontario doesnt want motorcycles on the road.
 
Dr.Manhattan said:
Nah starts with an A lol.



It's a 2010 Hayabusa. Been riding for awhile. Had my M2 years ago and let it lapse. Went and got it again 3 years ago and got the newish bike. Crazy how insurance is changed. Even when I bought my R6 with an M1 just 12 years ago I was paying like $50 a month. Then a Honda 600RR with my M2 was $75 a month and finally I had a 2001 Hayabusa just 8 years ago at maybe $100 a month through TD insurance. Now they want $3700 a year 8 years later. It's pretty obvious Ontario doesnt want motorcycles on the road.
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Wawanesa was certainly insuring sport bikes last season. With M and 5 or 6 years experience you’ll quality for elite rider discount. Maybe call them direct, but I’m pretty sure they will want the M.
 
Evoex said:
Wawanesa was certainly insuring sport bikes last season. With M and 5 or 6 years experience you’ll quality for elite rider discount. Maybe call them direct, but I’m pretty sure they will want the M.
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Yea I called them - they want the M but no one is doing road tests due to COVID....sooo.....screw me I guess.

Called around all day. Allstate, Riders Choice, Personal, Standard and the best quote I got was from Desjardin for $2700 a year.

Pretty insane for a mature rider with an M2 and a clean record. Price to vehicle perspective would be the equivalent of me paying $20,000 a year for insurance on my truck. Just pathetic.
 
Hack said:
Zero ballers in this thread Lol
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i-concur-good-sir.jpg
 
Matt Rain said:
$2700 is not awful for a 3-year rider on a Busa. It should drop quite a bit in 3 more years.

Moral of the story is to not let your shiz lapse.
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Agreed. Im more angry at the fact I was quoted $874 for the year from this broker. Asked her again if she is sure she tells me yes, VIN and everything checks out. I figured it was too good to be true, but.....OK sign all the paperwork - buy the bike, get it registered to wake up this morning to her email. Even next year it will go down by a fair bit according to Allstate if I go with them - but also I don't think any Drive Tests are open to even get the M class license thanks to COVID.
 
Hack said:
Just how low do people think motorcycle insurance premiums should be...?

Zero ballers in this thread Lol
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Well, with full coverage Im looking at $4200. If 2 years of insurance costs more than the price of my motorcycle I feel we have a fuckin problem. Unless they want to buy me a new motorcycle every 2 years because I drove like a saint then I say the premium is bogus.
 
Dr.Manhattan said:
Well, with full coverage Im looking at $4200. If 2 years of insurance costs more than the price of my motorcycle I feel we have a fuckin problem. Unless they want to buy me a new motorcycle every 2 years because I drove like a saint then I say the premium is bogus.
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Sadly it’s the price of you, not the bike.
 
It's the M2 and the realities attached to it (not a lot of years licenced/concurrently insured) that's killing you. Ontario underwriters don't care about 10 years of past riding experience if you never got your full M and/or never maintained consistent motorcycle insurance during a gap where you didn't ride. In their eyes you're a new rider all over again.

My bet is the broker put in your past experience as concurrent to today without the gap...but the underwriter caught the mistake. That changed everything.
 
Dr.Manhattan said:
Yea I called them - they want the M but no one is doing road tests due to COVID....sooo.....screw me I guess.

Called around all day. Allstate, Riders Choice, Personal, Standard and the best quote I got was from Desjardin for $2700 a year.

Pretty insane for a mature rider with an M2 and a clean record. Price to vehicle perspective would be the equivalent of me paying $20,000 a year for insurance on my truck. Just pathetic.
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The premium has nothing to do with the price of the vehicle, people need to get over that thought ....the majority of the premium is accident benefits and liability
 
Dr.Manhattan said:
Agreed. Im more angry at the fact I was quoted $874 for the year from this broker. Asked her again if she is sure she tells me yes, VIN and everything checks out. I figured it was too good to be true, but.....OK sign all the paperwork - buy the bike, get it registered to wake up this morning to her email. Even next year it will go down by a fair bit according to Allstate if I go with them - but also I don't think any Drive Tests are open to even get the M class license thanks to COVID.
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That would be too good to be true for a seasoned rider. My Busa was 1200/year 3 years ago with TD/MM and that was after home+auto, employee, snowtire and 25 year M+ claims free discounts.
 
Hack said:
Just how low do people think motorcycle insurance premiums should be...?

Zero ballers in this thread Lol
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Much lower than they are. When you look at how much bike insurance is in other parts of the world where the riding season is twice what ours is its pretty shocking. Wouldnt suprise me if insurance per km rode is higher here than any other place on the planet.
Have an uncle in Ireland who insures 3 1000+cc, $340 per year total and he probably puts 3-4x the amount of usage the average person in Ontario would
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