insurance hikes 2016 (Toronto Ontario)

Forum Sponsor
biker1624 said:
I just got my bike insurance with Allstate. combined my home and auto insurance. Im paying a bit more on the home but combined im saving about $120 per month. If i were to do just bike with Allstate they charge $250 fee to do a bike alone. Do other companies have that too? i'm not complaining as service was great from my agent and im saving. Just curious to know what this stand alone fees is...
Click to expand...

It's not a "fee" so much as it's a discount you receive IF you bundle, just like most other insurance companies do.
 
The Allstate stand alone fee, (which is the term they provided), is used as an "incentive" to get to bring other insurance products to them. They can't by law force you to bring other products, (commonly referred to as tied selling), but the law doesn't prevent this type of fee. Not all companies charge such a fee, some do. Others will simply refuse you coverage if you are bringing a bike only policy to them.

Cars, trucks etc, are treated differently, because they are classified as "vehicles" under the Insurance Act. Motorcycles are classified with ATV's, sleds, watercraft etc as "recreational vehicles"
 
Guys!

My driving record: Clean- no tickets, 28 yr old male, 2007 Suzuki GSX600r, 8 years motorcycle riding experience. I too saw my 2016 premium double. When I called in to ask for a better rate I found that there was nothing SF could have done to reduce the premium. Apparently SF and TD are moving away from certain types of motorcycles. I wouldn't be surprised if they moved away from motorcycles in general in the future.

Solution: Having your premiums double is outright stressful. A couple of buddies I met at one of last year's bike meetups shared their broker with me. He rides too and is well versed with whats happening in the insurance marketplace. If you have a super sport at the present moment there are specific insurance companies you should be with to get the best quote. Likewise, if you own a Harley there are other companies that have favorable policies geared to them. Main thing is to call a broker that has access to the widest range of insurance providers. Major KEY. It was a pleasure dealing with a broker that rides as well and can get you on insurance completely online! Highly recommended:

Ian Sabatino, RIBO, Motorcycle Specialist
Personal Insurance Advisor
HUB International Ontario Limited
2265 Upper Middle Road East, Suite 700
Oakville, ON L6H 0G5
Direct: (905) 582-7098
Toll Free: (800) 263 2383 ext 7098
email: ian.sabatino@huninternational.com
 
My rate dropped slightly for 2016. With Co-Operators. Have the home, two cars & the motorcycle with them. The motorcycle is the cheapest to insure between the three motor-vehicles. Full Coverage; $670 for the year.
 
Mine with TD went down slightly to $435 full coverage. DL650 and I have 22 years riding with a clean record.
 
Last edited:
Mine went from $800 to $1400. No changes with policy, tickets, nothing. I'm with State Farm with 2011 Zx6R.
 
State Farm prices are saying they don't want the business. I just switched from them to Rider's Plus; saved $450 per year (R1200GS); and reduced my deductible from $1,000 to $500.
 
As others mentioned, SF has changed their rates heavily.

I picked up a 2012 CBR600RR in November. I got a quote then and again today (for a harley also)

Nov 2015 quotes:

CBR600RR - 120/mth
883 Sportster - 150/mth

Today

CBR600RR - 476/mth
883 Sportster - 190/mth

Time for me to shop around...
 
Splotless driving record since 2001
2007 Suzuki GSX R600 Markham
State Farm:
current premium $1600
Renewal premium on May 7 2016 $2800

All I have to say is WOW. Glad I sold my bike just yesterday.
 
Not sure what I'm going to do this year, 29 years, GM2 04 636

State Farm last year $1400
State Farm this year $2600

Looked around with nearly every insurance brokerage or company I could find in Ontario (blew my entire day off calling around unfortunately)
and it's still sort of looking like State Farm is the best quote for me some how. Most others that would even look at me, or even insure SS are all 3000+

The other one is Allstate at $900, if I change vehicles over to them. But they still haven't actually given a green light, since I'm not 30 years old and I can't get my M until next year - which are pre requisites I guess.
The agent, however, put in for some kind of pardon since I'll be 30 later this year and will be getting the M next spring but I sort of expect something along the lines of "try again next year when you are 30 with the M"
(seemed enthusiastic though, but he ain't the one calling the shots)

I was fairly happy at $1400 a year, not sure if it's worth finding the extra. Feels like I'm being bullied into giving up on it or to just take it up the... yeah
 
Good news on my end, the Allstate agents appeal gave the green light at 900/year with car policy (like 5 dollars difference from old car policy so I don't mind really)
 
Anyone wondering what a stand-alone would look like.

23
0 accidents or incidents or anything
this will be my 4th year riding
G for over 5 years
09 zx6r

aviva insurance quoted $4989 per year ^______________^

haven't really shopped around aside from them but guess I won't be doing stand-alone
 
Just got my SF renewal papers and a hike of 77% with nochanges to my policy or record! WTF!

Now looking. Allstate gave me a very similar price as my premium with SF last year so at least i have that option.
 
You must log in or register to reply here.
Back
Top Bottom