Heinous Increase with Jevco! | GTAMotorcycle.com

Heinous Increase with Jevco!

MudHog

Well-known member
I just got off of the phone with my insurance broker and have been informed that my insurance quote for this year is going to be $1853.. That's over $400 more than last year's policy, and this is for liability only. They said that this was because Jevco has increased their prices... I'm a young rider (24), still with my M2 and I have 3 years riding experience. I'm riding a '99 KLR650. I could understand being quoted as much as I am for a higher cc sportbike, but this is a slower dual sport and has never cost me more than $1500 to insure year round. I feel like this is really unreasonable, heck I felt like I was getting gouged at $1400.. Has anyone else had such a massive hike in their insurance prices? Any suggestions as to other companies I should look at?
 
Call John R Duffy maybe? They have 2 underwriters, one is Jevco, don't remember the other one.
 
yes,in 2011, I was at 550$ per year with Jevco. This year I was pegged at 660$... So I dropped Jevco. Try TD Bank,.. my rate with them is 375$. A nice surprise after a friend recommended TD mc insurance as the cheapest way to go.
 
Thanks for the suggestions guys... I called John R Duffy, the agent I talked to was really helpful but the quote was even higher through Jevco.. I then called TD who won't insure me because my girlfriend has an M1 but hasn't taken her course... So I'm going with Jevco through my original broker. I'm not happy. It's ridiculous how they have it set up so I can't even cancel my policy halfway through for a refund. This entire system is designed to screw us as hard as possible.. By the time I'm old enough to get a decrease in rates they'll have jacked everything so high it won't be affordable anyways... I can't believe they can actually get away with this crap, but what the hell can we do? I know a lot of people my age and older that are getting screwed right out of motorcycling... I'm glad I'm getting the hell out of this province soon. B.C's rates are actually cheaper than ours now... Never saw that coming.
 
Thanks for the suggestions guys... I called John R Duffy, the agent I talked to was really helpful but the quote was even higher through Jevco.. I then called TD who won't insure me because my girlfriend has an M1 but hasn't taken her course... So I'm going with Jevco through my original broker. I'm not happy. It's ridiculous how they have it set up so I can't even cancel my policy halfway through for a refund. This entire system is designed to screw us as hard as possible.. By the time I'm old enough to get a decrease in rates they'll have jacked everything so high it won't be affordable anyways... I can't believe they can actually get away with this crap, but what the hell can we do? I know a lot of people my age and older that are getting screwed right out of motorcycling... I'm glad I'm getting the hell out of this province soon. B.C's rates are actually cheaper than ours now... Never saw that coming.


If you think that moving to BC to escape levels of bureaucracy and collusive gvt corruption that gouge your paycheck to shreds, will cost you less thee than in Ontario, good luck to ya. You'll find out.

And another little tidbit that may not be as much of an issue in BC as it is in our eastern provinces, is health care. I learned this myself recently, and it helped address some innocent but very disillusioned ignorance (on my part) about who is first in line for new drugs, treatments etc. Things are not even nationwide, and the taxes (and gouges) we pay here in Ont does have its incidental perks. Sometimes you have to be a little unlucky to find that out though.

That said, Ont does piss me off a lot at times, but I've learned that the old adage that grass isn't always greener, is so true. So anyone who wants to flock off to BC or New Zealand etc, see ya...or not..

Also...in regards to actions we undertake that use police to police us, while I have had more abusive-power OPP encounters than good ones (deserved breaks), I think I'll take them over RCMP or USA state troopers...if I happen to be at the wrong place at the wrong time. Not saying there isn't room for a lot of improvement since what's his face got all high and mighty, but at least his deal is more traffic oriented..It's the other non-traffic issues that can flip your life upside down in the blink of an eye with RCMP and troopers at the reins..

As for the KLR 650 class, yes it sucks that it's a 650. There are a pile of smaller cc'd bikes that can annihilate it. Same goes for all the 650's...be it a Burgman, 650 Ninja/Versys, KTM, BMW etc etc The extra 50 cc class cleans up. Gimme a 599 any day. Or 399 even better..Those old CB1's and VFR400's were perfectly capable of inducing an adrenaline rush on command. If Honda had the stones to bring the VFR400 here (non VTEC thank you very much) they would sell like you wouldn't ****ing believe..and we wouldn't have this insurance gouging that has become a daily PITA topic.
 
It's ridiculous how they have it set up so I can't even cancel my policy halfway through for a refund. This entire system is designed to screw us as hard as possible..

Should you be able to buy a Canada's Wonderland annual pass for $80 in April and then cancel in September for a $40 refund? Read my sticky so that you can understand premium earning (and hence why cancelling at the end of the summer will not give you a refund):
http://www.gtamotorcycle.com/vbforu...-Farm-policy-Want-to-know-your-Penalty-Refund

Perhaps the insurance industry should cancel monthly payment plans altogether and force people to pay for your riding season season (i.e. ANNUAL premium) 100% up front? At least this would end the confusion.
 
Should you be able to buy a Canada's Wonderland annual pass for $80 in April and then cancel in September for a $40 refund? Read my sticky so that you can understand premium earning (and hence why cancelling at the end of the summer will not give you a refund):
http://www.gtamotorcycle.com/vbforu...-Farm-policy-Want-to-know-your-Penalty-Refund

Perhaps the insurance industry should cancel monthly payment plans altogether and force people to pay for your riding season season (i.e. ANNUAL premium) 100% up front? At least this would end the confusion.

Aewnt you getting tired of beating your head against a wall with all those annoying insurance threads?
 
Try calling CIBI for insurance... I heard the owner is totally CLUELESS, you might get a wicked rate!
 
Aewnt you getting tired of beating your head against a wall with all those annoying insurance threads?

Premium earning isn't an easy topic for some people to understand, and it isn't made entirely clear to everyone applying for insurance on a seasonal vehicle. I don't mind explaining it to new members, since their frustration (usually due to a lack of explanation) is understandable :)
 
Surprisingly, my Jevco rate for my 2000 VFR800, theft, fire and specified perils, went down about $100/year to $675/year.

Jevco's rate for my 2003 CBR1100xx was out of this world; $3224/year. I ended up going with TD/Primmum for about $1650/year, though that does not include theft/fire/vandalism. About another $125/year for those but my alarm system doesn't qualify.


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I then called TD who won't insure me because my girlfriend has an M1 but hasn't taken her course...
I don't understand. Does she live with you? Is the address on her license the same address as yours?

-Jamie M.
 
You are not alone, got a 15% hike over a year ago, same stats - nothing changed, liability only coverage.

Jevco was bought out and very likely will seize to exist in not so distant future...
The trend is all over other verticals, financials, telcom, etc...

http://business.financialpost.com/2...co-buy-boosts-property-and-casualty-presence/


........ from the above link ....................
Intact, which sells insurance under the Belair Direct and Grey Power banners, was a top performer among Canadian financial stocks last year with a 15% rise. The shares have continued to gain this year, with a 9% gain so far, and were up 52¢, or 0.8%, at $63.90 Wednesday on the Toronto Stock Exchange.

The stock was also likely getting a boost from a stronger-than-expected profit reported by Intact late Tuesday. The company said first-quarter operating profit rose 75% due to a large jump in premiums courtesy of the AXA acquisition.
.........................................................
 
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TRY TD BANK ... We upgraded our bikes and Jevco doubled their rates. With TD Bank we insured both bikes for the same cost as one bike with Jevco, same specs for the insurance comparison.
 
Tell your girlfriend to take the Moto Safety Course: it's worth it.
It's still not clear why she is affecting his ability to get coverage/premiums at all!?

-Jamie M.
 
It's still not clear why she is affecting his ability to get coverage/premiums at all!?

-Jamie M.

Maybe he is trying to get her insured on the bike as well?

Meloche Monnex refuses to insure anyone with an M1 who has not taken, or is not registered to take, the safety course. It was a stipulation when I was first setting up my insurance, that I needed to fax them proof I was enrolled in a course, within 5 or 10 days of the start of my policy (I can't remember which).

Regardless, when I completed the safety course, my policy dropped about $1500/year. That, alone, is worth taking the course, nevermind all the slow-speed riding experience you get as a new rider.
 
Maybe he is trying to get her insured on the bike as well?
If the address on her drivers license is not the same as his, she is insured automatically on the motorcycle!

-Jamie M.
 
I got a great call today. My broker was nice enough to call me and let me know that JEVCO has decided to blacklist my bike. So my $1000 a year for the SF1098 is now $4000!
What a F**king joke. So I immediately cancelled the policy and am now going to have to search for another company. I bought the bike because of the "great rate" through JEVCO.
Broker and JEVCO will never get my business again.
 

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