More Bull**** from Ontario insurance companies for young riders

Nofear

Nofear

Well-known member
19 years old
2009 Ninja 250r (I don't actually have the bike yet)
G2
M2 (had it since september 2011)
Clean record on everything

Minimum coverage, liability only:
TD: $4080/y
John Duffy: $3767/y

Where else do I go for a quote? The quotes are $1k more than what the bike is worth... This is absolute bull****.
 
nofear said:
19 years old
2009 ninja 250r (i don't actually have the bike yet)
g2
m2 (had it since september 2011)
clean record on everything

minimum coverage, liability only:
Td: $4080/y
john duffy: $3767/y

where else do i go for a quote? The quotes are $1k more than what the bike is worth... This is absolute bull****.
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state farm....
 
They're more worried about collateral damage than your bike.
 
Nofear said:
19 years old
2009 Ninja 250r (I don't actually have the bike yet)
G2
M2 (had it since september 2011)
Clean record on everything

Minimum coverage, liability only:
TD: $4080/y
John Duffy: $3767/y

Where else do I go for a quote? The quotes are $1k more than what the bike is worth... This is absolute bull****.
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Well there's your problem. Wait until you've had your M class for at least 12 months, and watch your rates drop like a brick. (Do another online quote and say you got your M2 back in January 2011. Watch.)

Yes, it sucks. I'm doing the same thing right now. Mine hits the one year mark in August this year.
 
Nofear said:
My fleshy body is totally going to do a lot of damage to the front end of that guy's truck turning left in front of me, makes sense.
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Your fleshy body is going to take a hell of a lot of expensive medical care to put back together after they pull you out from under the front of that truck.
 
turbodish said:
Your fleshy body is going to take a hell of a lot of expensive medical care to put back together after they pull you out from under the front of that truck.
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While your bike takes out a kid in a stroller, putting her in a wheelchair and needing attendant care for 90 years.
 
Are you in University or College right now or have a full time job? If so, get a quote from TD Meloche Monnex. See if you're enrolled in an eligible school or part of a professional association. If so, you're in for a huge discount.

I find it odd that VifferFun's thread doesn't mention MM for any bikes under 600CC displacement. MM is by far the cheapest for me on a 250R ($1,424/yr for 21yo on a 2011 250R, $500 comprehensive, no collision, no bundle).

And if you have a car, get a quote at the same time. I get a $150/yr discount for bundling with my auto insurance.
 
DaveTheCanuck said:
Are you in University or College right now or have a full time job? If so, get a quote from TD Meloche Monnex. See if you're enrolled in an eligible school or part of a professional association. If so, you're in for a huge discount.

I find it odd that VifferFun's thread doesn't mention MM for any bikes under 600CC displacement. MM is by far the cheapest for me on a 250R ($1,424/yr for 21yo on a 2011 250R, $500 comprehensive, no collision, no bundle).

And if you have a car, get a quote at the same time. I get a $150/yr discount for bundling with my auto insurance.
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Yeah exactly what I was gonna say, I'm 19, GM2, 09 Ninja 250R. I sat on my M2 for a year before I bought the bike knowing i could insure it, $1300 for the year with TD MM. It'll be a tough year but its worth saving a couple grand. Especially since I am a brokeass student.
 
DaveTheCanuck said:
Are you in University or College right now or have a full time job? If so, get a quote from TD Meloche Monnex. See if you're enrolled in an eligible school or part of a professional association. If so, you're in for a huge discount.
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Im in University, but it isn't on the MM list.

turbodish said:
Your fleshy body is going to take a hell of a lot of expensive medical care to put back together after they pull you out from under the front of that truck.
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Does that trip to the emergency room cost the insurance company anything? Nope.
 
I have health insurance that already covers that. So again, nothing out of their deep pockets...
 
Your health insurance covers people that you hit? Where can I get that?

Let's say you ignore a railway crossing. It takes a crew 8 hours to extract the goo and twisted metal from between the wheels. The crew would be indirectly paid from your insurance.
 
Nofear said:
I have health insurance that already covers that. So again, nothing out of their deep pockets...
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The insurance companies pay the Ontario goverment hefty cash to reimburse OHIP for the cost of treating vehicle crash victims. In 2006 the amount paid by Ontario auto insurers to the Ontario government was $142 million, and it increases every year as the CPI goes up.

That's just the hospital stay. Income replacement benefits, ongoing therapy, caregivers are all paid by the insurers, not OHIP.
 
turbodish said:
The insurance companies pay the Ontario goverment hefty cash to reimburse OHIP for the cost of treating vehicle crash victims. In 2006 the amount paid by Ontario auto insurers to the Ontario government was $142 million, and it increases every year as the CPI goes up.

That's just the hospital stay. Income replacement benefits, ongoing therapy, caregivers are all paid by the insurers, not OHIP.
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That sounds really low to me.
 
OpenGambit said:
That sounds really low to me.
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The Ontario government initially proposed $160 million in 2006, but backed down a bit in light of declining crash injury rates.

From the IBC. http://www.claimscanada.ca/issues/article.aspx?aid=1000217418
As such, the insurance industry stressed it would be unfair to require Ontario drivers to pay for a rate of health cost escalation so obviously unrelated to their true contribution to public health system costs.

The Ontario government eventually adjusted the levy, but instead of doubling the levy as was initially proposed, they raised it to $142 million, which will be adjusted annually by the provincial consumer price index (CPI). Tying health care levies to the CPI ensures levies will be adjusted at a rate that reflects the inflation drivers are experiencing in other aspects of their lives. Most importantly, this approach promotes stability in the insurance industry, as it can be predicted and planned.
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hey I got a good quote from karl marshall state farm agent for my bike, keep shopping around hopefully you'll find a good quote!
 
Nofear said:
I have health insurance that already covers that. So again, nothing out of their deep pockets...
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Insurance in Ontario is really quite simple. The amount they charge equals the amount they pay out for any given segement with a 5-10% profit added in. Find a cheaper vehicle to insure, get a better job or complain to the gov't.
 
Have you tried facility? Probably get a better quote that what you have so far... you would have to pay it all up front though.
 
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