My Insurance rates this year - 36 YO, 500 cc, 5 years riding, Intact - WTF?

[teflone]

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I've been with a well known rider broker for the first 4 years, it was Jevco back then, turned into Intact 2 years ago. I cant complain about the broker, they were great with anything I asked them, had to change my address a couple times with them due to a fire and they were very accommodating over the years.

I got cb500xa, 471 cc, on/off road. 36 years old, and this year would be the FIRST with a full M license, and a perfectly clear record.


Intact - Last year was $1050, M2 4th year, 1 minor speeding ticket(under 10kph or close), no claims ever

Intact - This year was $1222, 5th year of riding, Full M, no tickets, no claims ever.. (Expected a decent discount this year, and I got this) WTF?

Spoke to them about it, apparently Intact for first time is calculating up single and married people. Married people make less claims. Im single.


Called around..lowest deductible they offer on both, 1million, Full coverage, etc

Aviva - $817

Echelon - $722

Guess who Im picking..

How do they justify this difference? crazy ****

Anyways, had to put this out there to share this BS, hopefully someone learns and find a better rate, I did.

 

[spankayf]

Frankly, I don't know what you are surprised about in this variation happens all the time My own experience is that the 3rd year with a company removes the discounts that they applied to get you there. At least they appear not be colluding on price


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[Jayell]

What about upping the deductible?

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[teflone]

What about upping the deductible?

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Upping the deductible makes it cheaper, but marginally. we're talking like 30 -50 bucks a year roughly

I think its good bang for the buck, thats why I go for the lowest

 

[Carlos Vincent]

Have you told your Broker you have an M license??

When people are shopping around for new insurance theytell all current information about themselves to the new potential insurancecompany, people fail in that departmentto tell their current insurance company and updates of changes that have happenedin their life style recently and that’s the reason why premiums are sodifferent when obtaining quotes.

Every time someone calls to cancel because they foundcheaper insurance elsewhere, I ask them to review their file to make sureeverything is up to date.
By the time all updated information is inputted in thesystem I end up being competitive or better rates, end up saving 80% of thebusiness, can’t save it all.

 

[sonnythebull]

Have you told your Broker you have an M license??

When people are shopping around for new insurance theytell all current information about themselves to the new potential insurancecompany, people fail in that departmentto tell their current insurance company and updates of changes that have happenedin their life style recently and that’s the reason why premiums are sodifferent when obtaining quotes.

Every time someone calls to cancel because they foundcheaper insurance elsewhere, I ask them to review their file to make sureeverything is up to date.
By the time all updated information is inputted in thesystem I end up being competitive or better rates, end up saving 80% of thebusiness, can’t save it all.

Great points and good business practice always

 

[sonnythebull]

I've been with a well known rider broker for the first 4 years, it was Jevco back then, turned into Intact 2 years ago. I cant complain about the broker, they were great with anything I asked them, had to change my address a couple times with them due to a fire and they were very accommodating over the years.

I got cb500xa, 471 cc, on/off road. 36 years old, and this year would be the FIRST with a full M license, and a perfectly clear record.


Intact - Last year was $1050, M2 4th year, 1 minor speeding ticket(under 10kph or close), no claims ever

Intact - This year was $1222, 5th year of riding, Full M, no tickets, no claims ever.. (Expected a decent discount this year, and I got this) WTF?

Spoke to them about it, apparently Intact for first time is calculating up single and married people. Married people make less claims. Im single.


Called around..lowest deductible they offer on both, 1million, Full coverage, etc

Aviva - $817

Echelon - $722

Guess who Im picking..

How do they justify this difference? crazy ****

Anyways, had to put this out there to share this BS, hopefully someone learns and find a better rate, I did.

http://www.citopbroker.com/news/is-motorcycle-insurance-a-losing-class-of-business-4779

 

[Roomie]

Not that I want into the debate again but sask pays peanuts compared to here for bike insurance. Also usually a shorter season less population etc

 

[sonnythebull]

Not that I want into the debate again but sask pays peanuts compared to here for bike insurance. Also usually a shorter season less population etc

And they lose 9 to 10 million a year on motorcycle Insurance
It mentions intact Jevco in ontario. Read the article not just the headlines

 

[teflone]

Have you told your Broker you have an M license??

When people are shopping around for new insurance theytell all current information about themselves to the new potential insurancecompany, people fail in that departmentto tell their current insurance company and updates of changes that have happenedin their life style recently and that’s the reason why premiums are sodifferent when obtaining quotes.

Every time someone calls to cancel because they foundcheaper insurance elsewhere, I ask them to review their file to make sureeverything is up to date.
By the time all updated information is inputted in thesystem I end up being competitive or better rates, end up saving 80% of thebusiness, can’t save it all.

I know eh?, I called them twice to confirm they knew my full details.. They were correct, mind ..blown...

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