Insurance stupidity and CBR650F

[conundrum]

Try a realtor and move that's ludacris that your 32 and paying ,560 for a 250 I'm 25 pay 600 a year for a r6 I'm with statefarm maybe try them ?

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Completely depends on your postal code -- If I was in Durham it would be less, and if I was in Brampton it would be more.

As for SF, I never bothered with them on the CBR650F, but when I called them a year or so earlier when I was looking at the CBR600RRA, they were a lot cheaper than everyone else by about $500-600, however, I had to move my condo and car to get that rate, and they wanted around 3x as much as I pay TD for the car.

 

[unL33T]

I think it sucks that SF (& other insurance companies??) don't distinguish between sport bikes and cruisers. I'm paying $1k for a 750 Shadow that has been passed by ebikes. ?

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SF charges purely by engine size. Their rates for anything other than supersports are not great. They are especially bad in Toronto. Their agents have actually told me cruiser riders should not insure with them and anyone that lives in Toronto shouldn't insure with them either, unless they have an SS. Although their house/rental rates are decent so their combined rates might be ok.

Outside Toronto they are pretty good. I was insured with them when I lived outside of Guelph. When I moved to Toronto their rates for all three of my vehicles were way higher than any other company. I still have my rental insurance with them, though, because their rates for that are even better than what my current company can offer me even with discounts for combining the policies.

 

[Joe Bass]

SF charges purely by engine size. Their rates for anything other than supersports are not great. They are especially bad in Toronto. Their agents have actually told me cruiser riders should not insure with them and anyone that lives in Toronto shouldn't insure with them either, unless they have an SS. Although their house/rental rates are decent so their combined rates might be ok.

Outside Toronto they are pretty good. I was insured with them when I lived outside of Guelph. When I moved to Toronto their rates for all three of my vehicles were way higher than any other company. I still have my rental insurance with them, though, because their rates for that are even better than what my current company can offer me even with discounts for combining the policies.

I have everything with SF, as my bil is my agent, and I was thinking of going there as a career change. Don't know how it would look not having my bike with them. That being said, I'm waiting to see what happens when Desjardins takes over. If my rates don't drop, I may have to jump ship. Or buy a Burgman.

 

[Matthew.Tremayne]

I'm waiting for Dejardin to take over, to see if they screw us SS riders before I buy a new bike..

 

[Golluk]

Golluk, call Dalton Timmis -- They are who I went with in the end. Managed to get it for $1200/year ($1100 + $100ish for depreciation protection). I think their info might be posted elsewhere but here is the one I went through:

Kerryan Amaral -- kerryana@daltontimmis.com

Big difference between them and TD was both Intact and Aviva classify it as a sports tourer, where TD sees it as a SS. Also worth noting I only cancelled the bike with TD when I traded in the 250 -- Car and condo are still with them, for now.

I think I tried them, but they wanted a full M license for 5 years. I could be wrong though. I've called so many places I've started to forget.

I did get a hold of a local agent at State Farm, but they wanted 2700. Had more luck with Duffy, ~1200, another 250 for full insurance to meet financing requirements. Everything about the bike from price, to insurance, to HP seems to be about 33% higher over the CBR500RA. But I think longer term it will be worth it.

Sounds like there is new motorcycle insurance pricing coming out February, likely higher but you never know.

 

[Dresden]

I have a m2 and my car with them as well as my snowmobile

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State Farm is not competitive on car insurance at all. The perceived insurance saving on your bike is offset by the much higher car insurance rates.
I was quoted $140 per month higher for my car. Higher. Per. Month. To save $50 a month on bike insurance.

 

[2motors]

State Farm is not competitive on car insurance at all. The perceived insurance saving on your bike is offset by the much higher car insurance rates.
I was quoted $140 per month higher for my car. Higher. Per. Month. To save $50 a month on bike insurance.

Yeah I've found some statefarm agents suck but mines great my car insurance is cheap too!

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[conundrum]

I think I tried them, but they wanted a full M license for 5 years. I could be wrong though. I've called so many places I've started to forget.

You might be thinking of either SF or All State. I did have my full M though when I talked to them though (got it Oct 2013, and have only been riding 3 years).

 

[JustinRR]

this bike should be treated the same way as SV650SA, for your age it should be between 900-1100 mark, $1200 is not bad because that this is a newly released bike, stupid insurers mistake it being a 600ss

 

[Roomie]

State Farm is not competitive on car insurance at all. The perceived insurance saving on your bike is offset by the much higher car insurance rates.
I was quoted $140 per month higher for my car. Higher. Per. Month. To save $50 a month on bike insurance.

This. Statefarms car insurance rates can take a long hard suck on....

All of the companies should learn what they're insuring. A 650f and a 600rr have nothing in common in that regard.

2motors isn't your r6 a 99?

 

[Joe Bass]

This. Statefarms car insurance rates can take a long hard suck on....

All of the companies should learn what they're insuring. A 650f and a 600rr have nothing in common in that regard.

2motors isn't your r6 a 99?

I'm thinking the only guys really saving with SF are the SS riders. Like you said, big difference between a 750 SS and my Shadow 750...but same rates.

 

[Golluk]

Ok, now I'm a bit scared. TD's price jumped to 3100 dollars a year.

Edit: Nvm, Duffy and Dalton is about the same still, at ~1500 a year. Tried Johnson, who I have my truck insurance with, and they are also at ~1500. But, if I pay off the bike, and forgo collision/comp, liability at 2m and basic medical benefits is $531.00 a year....

I think I'm going with them now, and likely paying off my bike early.

 

[hedo2002]

You have to consider many things sure if you pay the bike off early you CAN drop the Coll/comp. BUT what position will it leave you in if you crash the bike and it is a total right off, (not at all hard on a bike). Are you able to absorb the loss of the bike financially, and be able to afford to go another bike to ride? Given this is a new bike most people can't afford to do that. Just a consideration. Now certainly if someone has a bike they only paid 2500 for then paying the extra $1000 per year for collision makes no sense.

 

[unL33T]

You have to consider many things sure if you pay the bike off early you CAN drop the Coll/comp. BUT what position will it leave you in if you crash the bike and it is a total right off, (not at all hard on a bike). Are you able to absorb the loss of the bike financially, and be able to afford to go another bike to ride? Given this is a new bike most people can't afford to do that. Just a consideration. Now certainly if someone has a bike they only paid 2500 for then paying the extra $1000 per year for collision makes no sense.

But you also have to remember if you make that claim for the bike there's a good chance you won't be able to afford insurance on any vehicles, nevermind a bike. A single at fault claim can double your rates.

 

[conundrum]

Ok, now I'm a bit scared. TD's price jumped to 3100 dollars a year.

Edit: Nvm, Duffy and Dalton is about the same still, at ~1500 a year. Tried Johnson, who I have my truck insurance with, and they are also at ~1500. But, if I pay off the bike, and forgo collision/comp, liability at 2m and basic medical benefits is $531.00 a year....

I think I'm going with them now, and likely paying off my bike early.

Golluk, was this on a CBR650F? Just interested to see if rates didn't change much between 2014 and 2015 for this model. My insurance renewal isn't until end of June/start of July, so it will be a while before I find out my own, personally.

 

[Golluk]

Golluk, was this on a CBR650F? Just interested to see if rates didn't change much between 2014 and 2015 for this model. My insurance renewal isn't until end of June/start of July, so it will be a while before I find out my own, personally.

Yes, for a 2014 CBR650F. TD went up about 50% on high performance rated bikes. It seems like Dalton, Duffy, and Johnson are still on last years rates. Johnson said March was when their new rates come in (Unifund Insurance underwriter).

For me, insurance priority is accident/disability benefits > Liability > theft > Upset (someone hits it when I'm not there) > Collision (I hit something). I'd rather put the $500 collision premium towards a new bike fund. If I screw up and write off my bike, there is a good chance I won't be looking to ride for a while anyways.

 

[conundrum]

Yes, for a 2014 CBR650F. TD went up about 50% on high performance rated bikes. It seems like Dalton, Duffy, and Johnson are still on last years rates. Johnson said March was when their new rates come in (Unifund Insurance underwriter).

For me, insurance priority is accident/disability benefits > Liability > theft > Upset (someone hits it when I'm not there) > Collision (I hit something). I'd rather put the $500 collision premium towards a new bike fund. If I screw up and write off my bike, there is a good chance I won't be looking to ride for a while anyways.

I'm guessing TD still sees the CBR650F as a supersport then. Given my insurance doesn't renew until mid summer (currently with Dalton Timmis and Aviva), hopefully I don't see a large mark-up there either. I know I should qualify for a 4-star or whatever rating at renewal since I've never made any claims/had any at-faults which was supposed to drop things, but it would suck if I did and then the increase premium drove it up above what I paid before.

I know comparing insurance across individuals is like comparing apples to aircraft, but currently I'm paying 1200/year for full coverage (coll/comp, accident benefits, theft, liability, etc) as well as a 'depreciation waiver' meaning should anything happen I get full MSRP back. I think that last bit cost me around $80 a year so I figure it was a good deal.

 

[Golluk]

...
I know comparing insurance across individuals is like comparing apples to aircraft, but currently I'm paying 1200/year for full coverage (coll/comp, accident benefits, theft, liability, etc) as well as a 'depreciation waiver' meaning should anything happen I get full MSRP back. I think that last bit cost me around $80 a year so I figure it was a good deal.

Still 300 or so less than I'm getting. I'm M 29, clean record, Hamilton area, full M for ~3 years. Johnson includes an alumni discount, which is balanced out by them not doing multi vehicle discount (vehicles have to be similar).

 

[Roomie]

Yes, for a 2014 CBR650F. TD went up about 50% on high performance rated bikes.

They did? Mine went down this year drastically. :dontknow:

I don't see how they can claim this as a supersport bike. Then again insurance companies have free will to **** you here anytime they feel like.

 

[conundrum]

They did? Mine went down this year drastically. :dontknow:

I don't see how they can claim this as a supersport bike. Then again insurance companies have free will to **** you here anytime they feel like.

Well when I called them last year, they said a 2014 CBR600RRA was 1600ish/year and the 2014 CBR650F was 1900ish/year. I asked them how that could possibly be and that the RR makes 120ish HP and costs 13K whereas the 650F makes 85ish hp and costs 10K, and they just said yes but the CBR650F is faster...it has a bigger engine.

If you could only hit someone on the head through the telephone...lol