Desjardins to buy State Farm
- Thread starter Mongrel
- Start date
looks like in 2 years i will be going to the dealer for a brand new sport touring bike. FZ1 tops my list. speed triple tempting.
D
Deleted member 40275
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How old are you if you don't mind me asking - tickets/accidents? Desjardins/TD wont give me a quote for ANYTHING under $4,500.. Mississauga, 26 y/o no tickets (1 minor at fault accident). I pay $1700 with SF now with a 600cc
Sinz
Well-known member
I have had my full M for years but I haven't been insured for a bike since 2012 so they wouldn't even look at me when I called RBC to get a quote, last year I was with TD I paid $1900.00 for the year, I just got insurance today with SF they were also $1900.00 for the year...breaks down to $160.00 per month that's with 2 speeding tickets in the past 3 years from my car...so it's not too bad!
Supersports will be un-insurable when the dust clears with this take over*..... Except thru TD and its only a matter of time till pressure from the government sees them droping them too....**
Runners unite. That's the only demographic that will still have SS's in a couple years..... Welcome to the free world. Oh. Wait. Right.
*This is my .02 based on observations of the insurance market out there for SS's
**This is my opinion no facts that Ive spoken to anyone of authority about.
Runners unite. That's the only demographic that will still have SS's in a couple years..... Welcome to the free world. Oh. Wait. Right.
*This is my .02 based on observations of the insurance market out there for SS's
**This is my opinion no facts that Ive spoken to anyone of authority about.
KeepCalm
Well-known member
http://www.cbc.ca/news/business/montreal-s-desjardins-group-takes-over-state-farm-canada-1.2497720
"It said it would continue to operate State Farm’s business under the State Farm name and maintain its network of 1,700 employees."
In this article it's mentioned that Statefarm will maintain business under its name. I believe this might just mean that Dejardins will own state farm without influencing rate changes. I sure hope this is the case, because I truly believe it makes no sense for Dejardines to change up rates and potentially risk loosing customers.
Another article i read also stated:
Once the transaction is finalized, State Farm's 1,700 Canadian employees and network of more than 500 Canadian agents will continue to serve over 1.2 million customers in Ontario, Alberta and New Brunswick. Desjardins expects the transaction will lead to job creation in the coming years in Canada, including Québec. Desjardins will continue to operate its other insurance brands separately across the country.
[FONT=Arial, Helvetica, sans-serif]It seems like this purchase of state farm is more of a "expand business scheme" rather then change insurance structure. [/FONT]
"It said it would continue to operate State Farm’s business under the State Farm name and maintain its network of 1,700 employees."
In this article it's mentioned that Statefarm will maintain business under its name. I believe this might just mean that Dejardins will own state farm without influencing rate changes. I sure hope this is the case, because I truly believe it makes no sense for Dejardines to change up rates and potentially risk loosing customers.
Another article i read also stated:
Once the transaction is finalized, State Farm's 1,700 Canadian employees and network of more than 500 Canadian agents will continue to serve over 1.2 million customers in Ontario, Alberta and New Brunswick. Desjardins expects the transaction will lead to job creation in the coming years in Canada, including Québec. Desjardins will continue to operate its other insurance brands separately across the country.
[FONT=Arial, Helvetica, sans-serif]It seems like this purchase of state farm is more of a "expand business scheme" rather then change insurance structure. [/FONT]
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They will change the rates they are not going to continue to lose money in motorcycle insurance like state farm does.
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EaZ8
Well-known member
ill probably be doing the same but im not a fan of the half naked bikes... for me its fully dressed or buck naked, maybe something like the FZ09/FZ8, or getting back on a harley...maybe there will be some nice fairing kits for the FZ1 though.
with wawanesa i use to pay $527 a year(43.91/month) on my HD when combined with my car.
my cbr600rr is combined with my car now and its $82 a month($984/yr) with SF.
my car went up about $10 a month with SF over Wawa....funny thing is i was getting quotes on a 2014 Camaro SS and ide save $60 a month...but owe a lot more lol
im 30 and got my m2 about 8 yrs ago through humber though (2nd m2...it expired..goin for M this year).
Wawa wont touch a SS, when i sold the HD my broker first said ya no problem its got a smaller motor...i laughed... she called back and said my bike is blacklisted because its a super track race bike(or something like that) i laughed again.. i knew they wernt going to cover it before i bought it because i was asking about a SS the year before.
Im sorry, anyone who is reading articles that say desjardins will continue with business as usual at SF and believing it, give your head a shake and think for a min.
If desjardins is BUYING SF. they are buying all the risk insured with that company as well. If they have deemed it unprofitable or have decided that it does not fit into the business structure of the parent company, the sub company will be dropping it too, and lets face it, if SF is in a position to be BOUGHT by Desjardins, then there business is not doing so hot and if a business is not doing well it either gets changed, or shut down. Business is not about friends, business is not about doing whats right. business is about the all mighty dollar, and you better believe if they see any sort of loss>gain senario once they really hit the books of SF and that loss>gain scenario has anything to do with the SS market. Staple or not, it WILL BE DESTROYED.
If desjardins is BUYING SF. they are buying all the risk insured with that company as well. If they have deemed it unprofitable or have decided that it does not fit into the business structure of the parent company, the sub company will be dropping it too, and lets face it, if SF is in a position to be BOUGHT by Desjardins, then there business is not doing so hot and if a business is not doing well it either gets changed, or shut down. Business is not about friends, business is not about doing whats right. business is about the all mighty dollar, and you better believe if they see any sort of loss>gain senario once they really hit the books of SF and that loss>gain scenario has anything to do with the SS market. Staple or not, it WILL BE DESTROYED.
Someone already mentioned Allstate but I can confirm that they do insure SS bikes. My cousin works there and gave me a quote. It was a little higher than my current SF policy but if SF messes with SS insurance then I know where I'm going. Right now I pay about $135 per month for full coverage including collision for a '07 600RR.
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How old are you and do they insure just a bike? Problem is I won't have a car or a house for a LONG time. =(
conundrum
Well-known member
I remember a few years back I talked to Allstate and they only did bikes if you also insured a car with them (so no motorcycle-only policies). As that was a few years ago maybe that's changed, who knows.
Although I am with TD MM right now on my 250, car, and condo, all this talk seriously has me thinking/considering the new CBR650F over the 600RRA considering it shouldn't get a supersport rating...last thing I want to do is get a new bike and find out a year or two from now it is uninsurable for the road.
Also worth noting when I called TD MM for quotes, they wanted $1700/year for a 600RRA (I'm 32, male, full M in Scarborough), but wanted $1900/year when I asked about the Kawasaki 650R (which also made it more expensive to insure than a new 636/ZX6R). When I asked why they said it was due to too many claims made on that bike last year, so nice to know your rates can double if others are stupid and crash, just because you ride the same thing (which has nothing to do with your own personal record/claims history).
Although I am with TD MM right now on my 250, car, and condo, all this talk seriously has me thinking/considering the new CBR650F over the 600RRA considering it shouldn't get a supersport rating...last thing I want to do is get a new bike and find out a year or two from now it is uninsurable for the road.
Also worth noting when I called TD MM for quotes, they wanted $1700/year for a 600RRA (I'm 32, male, full M in Scarborough), but wanted $1900/year when I asked about the Kawasaki 650R (which also made it more expensive to insure than a new 636/ZX6R). When I asked why they said it was due to too many claims made on that bike last year, so nice to know your rates can double if others are stupid and crash, just because you ride the same thing (which has nothing to do with your own personal record/claims history).
what this does is,
as years pass and more riders opt to purchase bikes for lower insurance rates,
then the stats will begin to show that specific 650r is involved in more accidents/claims, lol
so either way it ends up the same. but yes, at the moment, probably because in recent years the rates have rocketed,
the riders haven't begun to buy "alternative" bikes. once the switch happens, the same stats will simply shift to the 650r.
no?
i am guessing. just seems logical to me. but i could be wrong.
as years pass and more riders opt to purchase bikes for lower insurance rates,
then the stats will begin to show that specific 650r is involved in more accidents/claims, lol
so either way it ends up the same. but yes, at the moment, probably because in recent years the rates have rocketed,
the riders haven't begun to buy "alternative" bikes. once the switch happens, the same stats will simply shift to the 650r.
no?
i am guessing. just seems logical to me. but i could be wrong.
honda civic syndrome yes.
Theres more civics than anything else on the road, So there more stolen, and involved in more both at fault and not at fault accidents, and they are involved in more claims.... So there more expensive to insure than other comparable cars....
However, that being said, I think we could probably all agree that among the SS bikes the gizzer is probably the most predominant. however, The gizzer is also cheaper (for me in my whole insurance debacle) to insure than the kawi ninja zx6/10R So I dont know if popularity really does carry over to the bike market rates like it does on a car.
That being said tho, I have no doubt in my mind that once SS's are impossible to insure, and the people who wont run make the switch, the other bikes (sport touring's like the FZ6r) will become the next on the radar, and then the uprights, then the harley market, then the other crusers, untill we cant ride anymore.
PS. Allstate USED to insure bikes if you had a car with them, and if You still have a bike and car with them they continue to insure you. But they wont write new bike policys, regardless of if you have a car with them or not. I tryed when I turned 25 and they said no. The will insure other bikes just not SS's. I know forsure 100% they insure motorcycles (harleys in my case) as long as you have a car with them as my father uses the same broker as he has since he was 16 and hes been will allstate since he was 16 (hes now 60) and allstate insures his house truck bike(harley) jetski boat condo in florida bike in florida and car in florida. They just WILLNOT insure SS's
Theres more civics than anything else on the road, So there more stolen, and involved in more both at fault and not at fault accidents, and they are involved in more claims.... So there more expensive to insure than other comparable cars....
However, that being said, I think we could probably all agree that among the SS bikes the gizzer is probably the most predominant. however, The gizzer is also cheaper (for me in my whole insurance debacle) to insure than the kawi ninja zx6/10R So I dont know if popularity really does carry over to the bike market rates like it does on a car.
That being said tho, I have no doubt in my mind that once SS's are impossible to insure, and the people who wont run make the switch, the other bikes (sport touring's like the FZ6r) will become the next on the radar, and then the uprights, then the harley market, then the other crusers, untill we cant ride anymore.
PS. Allstate USED to insure bikes if you had a car with them, and if You still have a bike and car with them they continue to insure you. But they wont write new bike policys, regardless of if you have a car with them or not. I tryed when I turned 25 and they said no. The will insure other bikes just not SS's. I know forsure 100% they insure motorcycles (harleys in my case) as long as you have a car with them as my father uses the same broker as he has since he was 16 and hes been will allstate since he was 16 (hes now 60) and allstate insures his house truck bike(harley) jetski boat condo in florida bike in florida and car in florida. They just WILLNOT insure SS's
油井緋色;2130933 said:
32. I'm not sure about that... I'll ask my cousin next time we speak.
Granted, I never moved past the quote stage but they seemed fully willing to insure my SS. I was quoted at the end of last season so this was relatively recently.
I just called Desjardins today and they said they won't insure an RC51 cause its an SS. What gives??
