Just insure the bikes as property, swap the policy around all day and they are covered if stolen from the home.
Insuring a second bike
- Thread starter Beakster
- Start date
Who lets you do that? Every home/tenant policy i have seen excludes motor vehicles. Or are you saying keep fire amd theft on the other bikes and swap around liability? Finiding a company that will provide only fire and theft on bikes isnt easy.
Dunno, i'll ask the guy i know who does it next time i run into him.
Relax
Well-known member
Mike, are you a direct client, or converted from State Farm, and who do you contact to do the switch - Desardins head office, or agent? And how often have you been switching bikes?
I spoke to my agent today to confirm, and used the example of my SXV being my main bike, but this weekend I want to take the 998 out, then next week go back to the SXV, then the following weekend ride the Hawk, then the next week the Hyper, etc. She said that would be an administrative nightmare because of all the paperwork they have to mail out for each policy change. She said nobody has ever asked her to do this, but theoretically can be done, but added that she thought maybe after a few times Desjardins might say "no more" because of all the overhead. That's just her opinion. Interested to hear your experience.
I'm with what used to be state farm as well. I swap bike ins around regularly from bike to bike. I have been doing this for years, just call and say i want this one insured, next week call and say i want this one insured. simple as that. Evoex you cant get motor vehicles insured through your house ins. What is weird is when desjardins took over they wanted $1100 a year for my gsxr so I insured my klx 250 for $308/ year beginning april 26. Called and insured my gsxr on june 29 just got the bill $231. So $539 total till april 26. Makes no sense.
Relax
Well-known member
This is because each month carries a different percentage of your annual rate. The summer months are about 20% each while the winter months are practically nothing (I think as low as 2 or 3%.
Only in this province/country do they force you to insure multiple vehicles fully despite total use being equal to 1. Full on scam. They will claim its to prevent you from insuring 4 bikes and have 3 of your buddies riding around on the other 3. In reality a simple waiver form would be sufficient to ensure no payouts on any vehicle not being used by the rider/driver.
Total premiums should be:
(Liability + collision) on bike with highest premiums + (fire and theft) on all bikes + Admin fee.
The 2nd bike being 10% off is complete nonsense. It should be 75-80% off.
Everyone forced to insure extra vehicles at almost full premiums is simply subsidizing lower rates for people who insure only 1 vehicle.
Total premiums should be:
(Liability + collision) on bike with highest premiums + (fire and theft) on all bikes + Admin fee.
The 2nd bike being 10% off is complete nonsense. It should be 75-80% off.
Everyone forced to insure extra vehicles at almost full premiums is simply subsidizing lower rates for people who insure only 1 vehicle.
Mad Mike
Well-known member
that does make sense, bike insurance is based on a monthly allocation, not an annual one. What this means is your $1100 chopped into 12 pieces - Nov, Dec, Jan & Feb are free, the other months are about $135/mo. You would have paid $308 on the KLX but only used about $70 so far this year, that leaves $240 to be applied to the GSXR. The GSXR at 1100 would be $135/mo for Jul-Oct or $550 for the rest of the year. Since you have already paid more for the KLX than you have used, they is credited back against the $550. So $540-240=$300. That's not precise math as the allocations are subject to daily adjustments and the exact price for the GSXR -- but hopefully this is close enough to explains the diff.
Mad Mike
Well-known member
The best solution is to have accident benefits tied to the driver rather than vehicle. Want to drive -- have AB.
Thank Dalton and Kathleen for this.
