Light at the end of the tunnel - Cheaper Motorcycle Insurance July 1st

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Look at all the beta males here defending Ontario insurance premiums saying that I need it when I get paralyzed from an accident. I want to pay only $500 year insurance I dont neee a bloody $2 M liability. I dont plan on falling or having an accident. What happens if I get seriously hurt walking? Who is going to pay then? Should I pay $300 a month to insure my body too? Im prone to accidents 24/7 no? Let the rest of us decide what coverage we want.
 
Pegassus said:
Look at all the beta males here defending Ontario insurance premiums saying that I need it when I get paralyzed from an accident. I want to pay only $500 year insurance I dont neee a bloody $2 M liability. I dont plan on falling or having an accident. What happens if I get seriously hurt walking? Who is going to pay then? Should I pay $300 a month to insure my body too? Im prone to accidents 24/7 no? Let the rest of us decide what coverage we want.
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What blasphemy are you talking about? Freedom? In Ontario?! Think again!

Really though, I think with fraud being the biggest contributor to high rates, that the biggest problem with the whole system is our acceptance of those costs being passed to us.

Think retail: If Best Buy decided to stop worrying about loss retention, and smiled at you as you walk out the door without paying, and then simply increased prices to cover the difference...where would they be?
 
FYI my mid June renewal came the other day...was $1,248.00 now $1,171.00 so a $77 drop and less coverage from last year. I guess at least it didn't go up...
 
drumstyx said:
What blasphemy are you talking about? Freedom? In Ontario?! Think again!

Really though, I think with fraud being the biggest contributor to high rates, that the biggest problem with the whole system is our acceptance of those costs being passed to us.

Think retail: If Best Buy decided to stop worrying about loss retention, and smiled at you as you walk out the door without paying, and then simply increased prices to cover the difference...where would they be?
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Dont believe that hogwash that our premiums are high in Ontario because a lot of people are crashing on motorcycles... Texas and Florida have way more riders and months of riding than us... do they not fall down and the insurance companies dont have claims there? Yeah right.
 
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Pegassus said:
Dont believe that hogwash that our premiums are high in Ontario because a lot of people are crashing on motorcycles... Texas and Florida have way more riders and months of riding than us... do they not fall down and the insurance companies dont have claims there? Yeah right.
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Those who do end up in accidents get about $20,000 in coverage. Apples to oranges.
 
conundrum said:
Those who do end up in accidents get about $20,000 in coverage. Apples to oranges.
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Compare with maxed out coverage then if you like, you'll still find it much cheaper in Texas. *However*, because others have the choice to have lower coverage, the average payouts are lower, and thus total cost for all riders is much lower. Freedom of choice = lower rates.

There are many other factors, but broad scale freedom of choice in insurance will decrease rates. These token decreases (coverage x has a reduced minimum) don't do anything, because it's all small slices of the total coverage package
 
Can't really compare it to Texas or anywhere in the USA.
USA Riders/Drivers really have no coverage compared to Canada.

Texas population is 26,000,000 people with the opportunity to ride all year round, Canada has a population of 35,000,000 with the opportunity to ride 8 months of the year (on the lucky provinces)
I can pretty much guarantee Austin alone with a population of 2,000,000 people has more riders than all of Canada together.

More riders = more premium = lower rates
 
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