Trials
Well-known member
I can see that, the Beta would have way better performance, handling, suspension and brakes then those bikes.much lighter when it falls on you too.
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How much do you pay for insurance?
- Thread starter CHRIS63
- Start date
I can see that, the Beta would have way better performance, handling, suspension and brakes then those bikes.much lighter when it falls on you too.
sburns
Well-known member
This might be true, but I am sure all the insurance companies use a computerized system to come up with rates, so they are pre set. So how much influence does someone like yourself have to adjust it, or can you? Because every agent I have ever spoken with says either "that is what the system came up with" or "I can't adjust it because of the system" Sure that could be a spin, but reality is agents are not in charge of rates.
Trials
Well-known member
I'm convinced auto insurance is like purchasing stocks, but it's actually a confidence game, because if you are Lucky you will never see any return from all that money you spent, it will just vanish lucky me, I get to spend that much again next year on every vehicle I own.
I think it's time they are Forced to drop the model and year of the motorcycle from the personal risk equation considering it means nothing in reality to your personal risk,
and I can only ride one vehicle at a time unless they want me to start loaning them out.
Plus if I remove my passenger pegs or buy a one-passenger motorcycle, or my license prevents it, then give me a significant cost reduction.
lucky me, I get to spend that much again next year on every vehicle I own.I think it's time they are Forced to drop the model and year of the motorcycle from the personal risk equation considering it means nothing in reality to your personal risk,
and I can only ride one vehicle at a time unless they want me to start loaning them out.
Plus if I remove my passenger pegs or buy a one-passenger motorcycle, or my license prevents it, then give me a significant cost reduction.
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That was exactly his point, they aren’t riders so they don’t know OR care to manipulate the system.
sburns
Well-known member
Was it?
I’ve had this conversation with other riders who handle insurance.
But I’ll give him the opportunity to prove me wrong. ?
I have so much to say on this topic but there are a few KEY things every here needs to understand. First the difference between an insurance COMPANY/agent and and insurance BROKER. An insurance company can only show you the rates that company has and yes is based on their own internal database, quoting system, etc. An AGENT that works for an insurance company has absolutely no say or incentive to shake the tree when it comes to company rates. Its just a job and they don't even know what you are talking about.
A BROKER is more like Trivago or Expedia for insurance and compares rates from different companies... but does NOT work for ANY insurance company. Neither a typical agent or broker has much influence when it comes to rates and how bikes are classified by different companies, and definitely no final say. Think about it. Why would a 9-5 desk jockey risk getting fired for "not staying in their lane"? One key reason is THEY DO NOT RIDE so why would they care or stick their neck out?
I RIDE. Every off-season (around this time of year) I lobby actual insurance COMPANIES, and even let MANUFACTURERS know that insurance companies are picking on certain models of theirs but not their competition. I lead the charge and push for manufacturers (who have the most at stake) to join the fight. I can give you tons of examples of bikes that I actually got removed from the dreaded "blacklist" over the years and working on 3 more right now. YOU'RE WELCOME..... but I am able to do this because of my experience, relationships, and because it affects ME DIRECTLY as a rider.
A BROKER is more like Trivago or Expedia for insurance and compares rates from different companies... but does NOT work for ANY insurance company. Neither a typical agent or broker has much influence when it comes to rates and how bikes are classified by different companies, and definitely no final say. Think about it. Why would a 9-5 desk jockey risk getting fired for "not staying in their lane"? One key reason is THEY DO NOT RIDE so why would they care or stick their neck out?
I RIDE. Every off-season (around this time of year) I lobby actual insurance COMPANIES, and even let MANUFACTURERS know that insurance companies are picking on certain models of theirs but not their competition. I lead the charge and push for manufacturers (who have the most at stake) to join the fight. I can give you tons of examples of bikes that I actually got removed from the dreaded "blacklist" over the years and working on 3 more right now. YOU'RE WELCOME..... but I am able to do this because of my experience, relationships, and because it affects ME DIRECTLY as a rider.
Mad Mike
Well-known member
I'm up for renewal now. I'm going to check with the site sponsors and a couple of others. I have a clean record (no tickets or claims) and I'm past the magic 6 for years of riding and continuous insurance. Ill share my quotes in a week.
Sad thing is none seem to see an opportunity in MC insurance. They don't apply actuarial resources - funny think is they know the payouts for old farts on cruisers exceeds kids on sportbikes. Pricing is based on competitive data and overall payouts -- not risk.
Me too. I sat down with with execs from a 3 sizable firms last year. None of them ride, they don't like motorcycles, they would get out of the MC (snowmobile and RV) business if they could, but they can't. While the toy business is small and a pain to operate, a large number of toy owners also buy multiple auto and home policies, ins execs know cars and house policies follows the toys.
Sad thing is none seem to see an opportunity in MC insurance. They don't apply actuarial resources - funny think is they know the payouts for old farts on cruisers exceeds kids on sportbikes. Pricing is based on competitive data and overall payouts -- not risk.
Hack
Well-known member
The bundling thang may work for some people... I bet it really only works for the ins cos, but... some insurance cos only want to bundle to a point.
My primary insurer gives me decent service on my house and cars, but flat out do not and will not insure bikes. Period.
I'm okay with it as I'm getting good service/price on the house/cars, but I have to source my bike policy elsewhere.
My primary insurer gives me decent service on my house and cars, but flat out do not and will not insure bikes. Period.
I'm okay with it as I'm getting good service/price on the house/cars, but I have to source my bike policy elsewhere.
Nothing makes sense...
If i wanted to ditch my triumph daytona and get a street triple ie: a naked daytona, my ins. premium was almost double ?
Hack
Well-known member
I wonder if it would be worthwhile for manufacturers to underwrite ins. for people who buy their product..?
Many large manufacturers have finance arms.. Why not an insurance division..?
I have no idea if it's even feasible/legal under our current regulations, but what if when you buy your new BMW, Honda, or whatever you could buy insurance from/via the same entity..?
'Just spit-ballin'...
In any case... Lets face it. Motorcycles are toys here in North America. If you wanna play, you gotta pay.
Personally... I enjoy my bike so much that if my premiums jumped 2x I'd probably still pay them and continue riding.
Oh, I'd b***h and complain about it, but I'd still pay to ride.
Many large manufacturers have finance arms.. Why not an insurance division..?
I have no idea if it's even feasible/legal under our current regulations, but what if when you buy your new BMW, Honda, or whatever you could buy insurance from/via the same entity..?
'Just spit-ballin'...
In any case... Lets face it. Motorcycles are toys here in North America. If you wanna play, you gotta pay.
Personally... I enjoy my bike so much that if my premiums jumped 2x I'd probably still pay them and continue riding.
Oh, I'd b***h and complain about it, but I'd still pay to ride.
Mad Mike
Well-known member
Not possible. Insurance is a cartel in Ontario, it would be impossible to operate unless IBC let you in. The other thing that has to happen is the provincial gov't needs to get out of bed with insurance.
Over a 10 year period the ON Liberal govt created approx 30,000 jobs thru rulemaking in auto insurance alone - a clever way of increasing jobs on the backs of taxpayers was to increase mandatory insurance coverage then relax payouts. Today those 30,000 therapists (OHA lobby), litigators (OTLA), and insurance workers (IBC) are not willing participants in rolling back the clock.
Motorcycles are far less costly to underwrite than cars, and for the most part riders pay less for their motorcycles than their car policies. But they still pay too much.
Motorcycle policies are cheaper for physical damages, PL/PD but the AB is far, far higher per incident. Modern cars are pretty safe... motorcycles haven't really improved... ever.
I pay about the same for a car and a van insurance (2 policies) as one non-sport bike policy, where AB is 68% of the policy. The AB on the car/van is 42%.
yep it depends on the particular insurance company and how THEY rate each bike. There is no master list or database, each company has its own list though there are bikes that are blacklisted on every list. At NFP Moto for example the Street Triple is much less than the Daytona. My GF has a 2020 Triumph Street Triple 765R and pays about $750/year on insuranceNothing makes sense...
If i wanted to ditch my triumph daytona and get a street triple ie: a naked daytona, my ins. premium was almost double ?
How is that a good deal? I pay $375/ year for a 09 gsxr 750. Not in ontario.
if you knew anything about ontario...
Unfortunately for those of us in Ontario anything under $1k/yr is good.
Sent from my iPhone using GTAMotorcycle.com mobile app
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