General question about insurance

[Homme007]

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wow.. i didn't know so many responses while i was away...

You need PL/PD to license a vehicle in Ontario (PL = personal liability, PD = property damages).
Does your friend only buy PL/PD? Lots of people only buy PL/PD... like me.

It sounds like you don't really understand insurance coverage in Ontario
PL/PD fixes your vehicle when you aren't at fault
Collision fixes your vehicle when you are at fault
Comprehensive is mostly everything else. (Insurance has to blame someone, to hold someone responsible for the damages. Comp kicks in when they can't blame the damages on someone)

@bitzz you are right.. hence I am asking.. it was literally a 2 min conversation.. and I had no idea what they are talking about.

If your vehicle has a bank loan on it you are probably required to have collision coverage on it by your lender. If the vehicle is older, or has no bank loan you can choose to drop the collision portion. Downside is that any damage caused where you are at fault, your vehicle repairs are not covered.

My 27 year old bike is simply too old to consider having collision, or even fire & theft coverage for that matter, so I opted out of those years ago.

@Malks So it IS possible to drop just collision as part of the coverage?

 

[GreyGhost]

So it IS possible to drop just collision as part of the coverage?

Yes. Collision is frequently dropped to save a bit of money when the vehicle isn't worth much. Be careful with towtruck mafia.

 

[backmarkerducati]

Never considered the tow truck aspect, might put a wrench in the below...

Historically I drop collision on older vehicles (but keep fire and theft). The potential cost savings is more than just current premiums and repair it is also will I even report it to get the repair money out. If say I have a single vehicle minor collision on a $5,000 vehicle. I need to report to get my money back (repair costs) which means six years of higher insurance costs. So IF I paid collision but the odds are I am not reporting it anyways.... changes the math a bit.

 

[PacoT]

Does anyone know if I can add to my motorcycle insurance policy a non-resident?

My dad might come and visit, and we would like to ride together.

 

[GreyGhost]

Does anyone know if I can add to my motorcycle insurance policy a non-resident?

My dad might come and visit, and we would like to ride together.

If he's not living in your house, he doesn't need to be listed on your policy (and I doubt they would consider visting living unless it was for a very long time). It is your responsibility to make sure he has a valid license. Other than that, you can throw the keys to whomever you trust.

 

[bitzz]

As long as he has a separate address he will be covered under occasional driver on your policy... unless he for some reason has been excluded.

 

[Relax]

Can someone explain this "tow truck mafia"? Don't they need your consent to tow your bike, and if you do, don't they have to tow it to the address of your choice?

 

[GreyGhost]

Can someone explain this "tow truck mafia"? Don't they need your consent to tow your bike, and if you do, don't they have to tow it to the address of your choice?

If you have been in a crash, police can instruct tow companies to remove the vehicle. Tow companies have to publish their rates but afaik, there are no limits so like rack rates in hotels, they are extreme. In the case of my brothers vehicle, his wife crashed in a snowstorm on the 401 near bowmanville (more than 30 minutes away from anybody she knew) and ended up in the ditch. Tow truck and cops showed up. Cop said vehicle had to leave now and there was a tow truck on scene. I'm not sure if she signed anything. Tow truck driver was very friendly (take care of yourself, we'll keep the vehicle safe and you can deal with that when it isn't dark and stormy, etc, etc). Tried to get it out the next day and there were three invoices from different companies (dispatch, tow and storage) totalling something like $2000. You couldn't get it released from storage until all invoices were clear and they had three different phone numbers so any attempt to dispute was met by voicemails and stalling (while the storage bill rapidly climbed). She called police to complain as they had told her to go this route and was told she was sol and this was a civil matter.

EDIT:
We had a family friend with a tow company that went to get the vehicle. No professional courtesy extended. Pay the entire bill or watch to see how high it climbs and threats of small claims to recover their "losses".

 

[xrljoel]

If you have been in a crash, police can instruct tow companies to remove the vehicle. Tow companies have to publish their rates but afaik, there are no limits so like rack rates in hotels, they are extreme. In the case of my brothers vehicle, his wife crashed in a snowstorm on the 401 near bowmanville (more than 30 minutes away from anybody she knew) and ended up in the ditch. Tow truck and cops showed up. Cop said vehicle had to leave now and there was a tow truck on scene. I'm not sure if she signed anything. Tow truck driver was very friendly (take care of yourself, we'll keep the vehicle safe and you can deal with that when it isn't dark and stormy, etc, etc). Tried to get it out the next day and there were three invoices from different companies (dispatch, tow and storage) totalling something like $2000. You couldn't get it released from storage until all invoices were clear and they had three different phone numbers so any attempt to dispute was met by voicemails and stalling (while the storage bill rapidly climbed). She called police to complain as they had told her to go this route and was told she was sol and this was a civil matter.

So essentially a government enforced AND MANDATED scam.

Likely some payoffs still involved as was exposed a couple years ago.

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