IF MC insurance was $400/yr, would you own more than one bike? | GTAMotorcycle.com

IF MC insurance was $400/yr, would you own more than one bike?

Mad Mike

Mad Mike

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Insurance in Ontario is high, we all know that. I'm curious to see how many riders would have a second bike if insurance was $400 or less/bike?
 
Mine is already under $400, and have only one on the road. But it's for just that model. At this time I don't really need more than one. Have had times before where I had multiple and they were used most of the year. Commuter bike, sport weekend bike, touring bike, etc.
 
Riceburner said:
Mine is already under $400, and have only one on the road. But it's for just that model. At this time I don't really need more than one. Have had times before where I had multiple and they were used most of the year. Commuter bike, sport weekend bike, touring bike, etc.
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wow - under $400? What do you ride and who insures you? I pay more than that for my 125CC enduro!
 
For what I'm paying now, if my rate dropped to $400, I could own 5 street capable bikes. In reality, I would at least do 2, maybe 3 different segments - SS, naked, cruiser
 
I think the real solution is to have insurance tied to the driver. Say I live alone and have 5 bikes. If I insure 1 bike vs 5, my premium should be identical provided there's a clause I can sign that prohibits others riding the bikes. I can only be on one bike at a time, it just doesn't make sense the way it's currently set up
 
Michael0124 said:
I'm just under 1900 for two right now. If bikes were under 400 each I'm sure I would add more, different styles of bikes. I think most riders would.

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Does anyone run 2 or more bikes, swapping insurance out as needed? I started doing that last year, I call my ins co every time I want to switch insured bikes, 10 minutes and done. It's a hassle, but it saves me money.
 
I’m paying not much over $400/year for mine.

That said, I’ve no real desire for a second bike at this point unless it was a dream bike scenario. I quite like my VTX.
 
Mad Mike said:
Does anyone run 2 or more bikes, swapping insurance out as needed? I started doing that last year, I call my ins co every time I want to switch insured bikes, 10 minutes and done. It's a hassle, but it saves me money.
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I was thinking of doing this....perhaps when the weather gets much better I put the newer one on the road and put the older one as my bad weather beater. Right now I'm paying around $1900 for both.
 
Mad Mike said:
I call my ins co every time I want to switch insured bikes, 10 minutes and done. It's a hassle, but it saves me money.
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What company? Do you put the other one under fire/theft coverage only so it's still "active"?
I'm curious if it looks bad on your insurance record canceling policies frequently. Unless it's not really being cancelled...
 
Sebi said:
What company? Do you put the other one under fire/theft coverage only so it's still "active"?
I'm curious if it looks bad on your insurance record canceling policies frequently. Unless it's not really being cancelled...
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Shoukd only look bad if they cancel you.
 
I have a garage, as long as it's stored in there my home policy covers theft and fire (not too worried, haven't had a bike stolen from my garage ever -- 40+ years. Your situation and ins. co. may be different, check with them to be sure.

As for cancelling, I don't -- I keep the same policy and switch the bike. They have never complained.
 
roadrash said:
For what I'm paying now, if my rate dropped to $400, I could own 5 street capable bikes. In reality, I would at least do 2, maybe 3 different segments - SS, naked, cruiser
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Hah, same situation. Would love to pay less than $1k a year as is for a bike... Let Alone 2 bikes for under than would be fantastic.

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