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Insurance for multiple bikes

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I used TD for my MC insurance - I have a bunch of bikes, 3 large displacement that each cost about $800-900/year to insure, and a few <250CC enduro bikes that all run about $275/year. I insure 1 large and 1 small bike, when I want to run a different one, I call and change the insurance over. Most years I'll doe this 3-4 times. They have never objected, they knew what I was doing.

Each time I changed, the rate changed slightly. Sometimes it would increase and my monthly payments increased, sometimes it would go down a bit and they would send me a small refund. I left TD for Desjardins this year, I switched it once so far, no issue.
 
Mad Mike said:
I used TD for my MC insurance - I have a bunch of bikes, 3 large displacement that each cost about $800-900/year to insure, and a few <250CC enduro bikes that all run about $275/year. I insure 1 large and 1 small bike, when I want to run a different one, I call and change the insurance over. Most years I'll doe this 3-4 times. They have never objected, they knew what I was doing.

Each time I changed, the rate changed slightly. Sometimes it would increase and my monthly payments increased, sometimes it would go down a bit and they would send me a small refund. I left TD for Desjardins this year, I switched it once so far, no issue.
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Nice, maybe there is still hope for me!
 
GreyGhost said:
There is a form you can use to explicitly exclude a driver (OPFC 28a) for instance to exclude your kid from an expensive vehicle with high rates. Afaik, there is no way to only allow listed people.
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We do this for our son, otherwise he would end up being a principal driver on one of the cars.
 
Relax said:
I thought it was accident benefits, but tomato tomato.
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You may be correct. The simplified version is if you remove liability you remove a bunch of the cost but can't ride the vehicle. You may be right that AB makes up a large portion but you can't have AB without liability afaik.
 
Fuzzbuster said:
Nice, maybe there is still hope for me!
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I'm doing the same as @Mad Mike, but only once a year. I only have one policy, and only one bike is covered at a time. Which means my other bikes have zero coverage for anything, such as fire or theft. If you care about that, you can try contacting @NFP Moto on here. He said that one of his underwriters will let you drop liability on one bike if you have another also insured with them. That way, both bikes are still on a policy and you can have comprehensive (fire, theft, etc.) on the one that isn't being ridden.
 
Mad Mike said:
I used TD for my MC insurance - I have a bunch of bikes, 3 large displacement that each cost about $800-900/year to insure, and a few year. I insure 1 large and 1 small bike, when I want to run a different one, I call and change the insurance over. Most years I'll doe this 3-4 times. They have never objected, they knew what I was doing.

Each time I changed, the rate changed slightly. Sometimes it would increase and my monthly payments increased, sometimes it would go down a bit and they would send me a small refund. I left TD for Desjardins this year, I switched it once so far, no issue.
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That’s interesting so I have one bike insured all year with them. They told me if I wanted to bring my second bike on to their policy I could turn it on and off anytime. Have you done anything like this for example only ensuring a bike for one month and only paying the premium that is allocated for that monthI.e. September is 10%. I fear if I put my second bike onto the policy and then canceled it at the end of September TD would gouge me


Sent from my iPhone using Tapatalk
 
GreyGhost said:
As much as we crap on the insurance companies, much of the blame lies with government. If there was significant effort invested in investigation and enforcement of fraudulent insurance claims, that would probably be good for a 30% reduction tomorrow.
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My wife worked in insurance. If the system wasn't so workable in their favour they could save another 10% by being more efficient. Why should they work at that when there's a government mandated money trough to feed from?
 
GreyGhost said:
Back to enforcement, the theory is you insure three bikes and two are ridden by your friends. It would seem to be simple enough to allow insurance that only covers you riding the bike. Any other rider would be uninsured.
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They have it for cars. Clause 28 or something. If there's a high risk driver in the house the rate is set by their record unless you sign the waiver 28 that states the risky driver will never touch the vehicle.

I once had three bikes plated and insured and the only thing I saved was a postage stamp or two by paying the three at once.

Edit GG caught this in a later post
 
nobbie48 said:
They have it for cars. Clause 28 or something. If there's a high risk driver in the house the rate is set by their record unless you sign the waiver 28 that states the risky driver will never touch the vehicle.

I once had three bikes plated and insured and the only thing I saved was a postage stamp or two by paying the three at once.
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I am still surprised that we can't have a similar signed statement that only provides insurance for the listed driver/rider. Most people with multiple bikes don't loan a lot of them out. If insurance was for the specified rider only, the pool of bikes should be insured for the most expensive bike plus an admin fee for each additional bike (~$100/bike?). I think this is prevented by law currently (insurance is insurance and should be valid for a random driver). Even if the law allowed it, why would an insurance company offer it? Right now they get $1000x4 instead of $1000+300 in my plan.
 
GreyGhost said:
Stolen bike you are off the hook. That is why some people crash, go home, then report bike stolen.
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With the Yonge Street massacre the rental company and their insurer are off the hook because the damage was done during the commission of a crime. The victims have to come up with their own funding for rehab etc.

Defining Theft?

Years ago I loaned a bike I wasn't using to a relative that didn't have any ethics regarding double loaning. IE If I loan you something you don't loan it to someone else.

When I got the bike back after a month or two the fork tubes were bent back and when I pointed it out I got a long unrealistic story that didn't make sense. Fork tubes, even on a small bike don't bend back when the bike tips on its side while parked.

I later found out the bike was being used as a carnival ride for his unlicensed, untrained friends, one of whom ran into the back of car. It was in the days of substantial bumpers so the bike took all the hit.

However if there was substantial damage or worse, an injured pedestrian I would be held responsible unless I could get off by having the rider charged with theft, taking without permission. If that worked my insurer and I would be off the hook, the victim would be without compensation and the rider would have a criminal conviction.

If it didn't work I might not now own a house.

Be careful what you loan out.
 
GreyGhost said:
Stolen bike you are off the hook. That is why some people crash, go home, then report bike stolen.
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Years ago a cousin and his buddy crashed the cousin's car during a country drive, walked home and reported the car as stolen.

Rural Manitoba in February.

The police investigated why the two went to the hospital with frostbite. Claim denied, charges laid.
 
nobbie48 said:
Years ago a cousin and his buddy crashed the cousin's car during a country drive, walked home and reported the car as stolen.

Rural Manitoba in February.

The police investigated why the two went to the hospital with frostbite. Claim denied, charges laid.
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I want to know if I should feel bad about laughing at this, was there any positive character development
 
nobbie48 said:
Years ago a cousin and his buddy crashed the cousin's car during a country drive, walked home and reported the car as stolen.

Rural Manitoba in February.

The police investigated why the two went to the hospital with frostbite. Claim denied, charges laid.
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A buddy fell asleep driving home one winter and ditched the car. He walked home. Later he told the cops at his door he had swirved to miss something. The cops said they thought something else had happened since his tracks in the fresh snow just go straight into the ditch. Burned.
 
looking to add a 2nd bike to my policy. asked my provider about the ability to swap coverage between the bikes for a given year to save money.

answer was "no." both bikes would have to be insured at the same time.
 
bigsix said:
looking to add a 2nd bike to my policy. asked my provider about the ability to swap coverage between the bikes for a given year to save money.

answer was "no." both bikes would have to be insured at the same time.
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That's the normal answer but at least one insurer allows some riders to do it. Not sure if it is a grandfathered thing or if a new policy can get the same courtesy.
 
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