Okay thats actually really good then. So it is pretty much like comprehensive in a sense?. Since my understanding is it covers bikes that are parked and tarped? And obviously theres no coverage from operating the bike under its own power ie crashes
Nope, the bike doesnt need to be tarped or anything to be covered. If its listed on the policy its on the policy. Realistically (and thats why the rates are low) its super rare for a bike to get stolen from a track day. I do 6-8 track days a year as well and we all know its more of a community vibe, family atmosphere, people are keeping an eye on each other in a good way
Nope, the bike doesnt need to be tarped or anything to be covered. If its listed on the policy its on the policy. Realistically (and thats why the rates are low) its super rare for a bike to get stolen from a track day. I do 6-8 track days a year as well and we all know its more of a community vibe, family atmosphere, people are keeping an eye on each other in a good way
Here's what I would advise if you want to take advantage of off season deals:
1) Shop around for insurance FIRST. That killer deal on a 10 year old R6 will be moot when you see the cost of M1 insurance.
2) If buying new or used bike from a dealer, ask them to hold the bike till April. I believe most bike dealers are used to this, they will store your purchase for you.
3) If buying private, you must take the risk that it won't be stolen or burned before you arrange insurance unless you can work something out with your insurer. My bike insurer, Desjardins, insures my extra bikes for comp only (no liability). I don't know whether they will insure just comp or you need another bike/car/home policy.
Here's what I would advise if you want to take advantage of off season deals:
1) Shop around for insurance FIRST. That killer deal on a 10 year old R6 will be moot when you see the cost of M1 insurance.
2) If buying new or used bike from a dealer, ask them to hold the bike till April. I believe most bike dealers are used to this, they will store your purchase for you.
3) If buying private, you must take the risk that it won't be stolen or burned before you arrange insurance unless you can work something out with your insurer. My bike insurer, Desjardins, insures my extra bikes for comp only (no liability). I don't know whether they will insure just comp or you need another bike/car/home policy.
Which insurance policy would cover the garage /house if it catches fire? Would it be just like a lawn tractor catching fire and would I have had to list the bike in my house insurance?
Fire and theft only when it is stationary at track or at home?
What insurance covers the accident transporting ithe non insured bike to the track? Is that the specific contents insurance the NPT MOTO specialist person was talking about?
We get very few requests for this type of coverage tbh so I had to double check. I have confirmed that it does cover the track bike, trailer, etc for fire & theft off track as well.
Bought my first bike in January. had it delivered to my house, in garage till spring without any fire, theft insurance. If my house burned to the ground, loosing a bike would be the least of my concerns.
That position is understandable but debatable. By definition, the average person loses by paying insurance so the average person would be ahead by saving their money. The problem comes when you arent the average person, when you are one of the small group that takes a big loss. For that group, no insurance puts then way behind whatever the premiums would have cost.
My wife and I are probably going to sign up for life insurance that will cost us about $24k over the next 20 years. There is a very good chance it pays out nothing and that money is lit on fire (and obviously also the gains if we had invested it nstead). In exchange, if one of us dies, the other gets to stay in the house and standard of living remains constant. We are trading money for security. That's all insurance really is. If you can take the loss and that doesnt affect you much, no need for anything beyond minimum legally required insurance.
That position is understandable but debatable. By definition, the average person loses by paying insurance so the average person would be ahead by saving their money. The problem comes when you arent the average person, when you are one of the small group that takes a big loss. For that group, no insurance puts then way behind whatever the premiums would have cost.
My wife and I are probably going to sign up for life insurance that will cost us about $24k over the next 20 years. There is a very good chance it pays out nothing and that money is lit on fire (and obviously also the gains if we had invested it nstead). In exchange, if one of us dies, the other gets to stay in the house and standard of living remains constant. We are trading money for security. That's all insurance really is. If you can take the loss and that doesnt affect you much, no need for anything beyond minimum legally required insurance.
For vehicle insurance I see it this way. I'm a responsible adult. If I lose something because it's my fault (or under my baliwick) I'll take the hit. If I smack up other peoples stuff that's what I have insurance for.
We get very few requests for this type of coverage tbh so I had to double check. I have confirmed that it does cover the track bike, trailer, etc for fire & theft off track as well.
Hang on, so there IS a way to get fire and theft insurance without liability and accident benefits on a bike that is not ridden on the street? If so, I have a couple of bikes I'd like to get covered immediately.
Which company offers this? There was another thread on this last year or so, and the consensus was that nobody could do it. I spoke to Desjardins as well as a bunch of brokers including NFP and whatever they were called before that.
My bike insurer, Desjardins, insures my extra bikes for comp only (no liability). I don't know whether they will insure just comp or you need another bike/car/home policy.
Desjardins told me flat out that they don't offer that coverage. They said all motorcycles must have liability coverage, but cars can be covered for comp only. Who's your agent, maybe I need to switch.
They will SF bought out by Desjardins. Every plateable bike, boat, snowmobile etc bought in off season (with the exception of trackbikes etc) has been insured before the riding seasons start
Get a broker, get multiple policies. Insurance is a crap shoot imo. Know what you want and an insurance expert maybe?
Go Hawks
They will SF bought out by Desjardins. Every plateable bike, boat, snowmobile etc bought in off season (with the exception of trackbikes etc) has been insured before the riding seasons start
Get a broker, get multiple policies. Insurance is a crap shoot imo. Know what you want and an insurance expert maybe?
Go Hawks
I'll ask them again then, but I've been with State Farm/Desjardins since the 80's and have everything with them. Who's your Desjardins agent, maybe I'll switch if it's an issue with my agent not knowing (I have other minor issues with them)? Just to be clear, do they only do that if you bought the bike in the off-season and intend to license it? Because I'm looking for only theft/fire year-round for some of my bikes that are never ridden on the street. I have one policy with them for comp only on one bike, but that's only because they grandfathered a really old policy I had with State Farm (who also grandfathered it after they stopped offering it).
I already have one bike insured with NFP, and went through this with him already in the past. Can't get comp without liability unless you have more than one bike with the same insurer. Everything else is with Desjardins, and even though I have 2 bikes with them, they won't do comp without liability. If you have a broker who can sell Desjardins and also offer comp without liability, I'd rather speak to them.
Kinda but not quite. Motorcycles like cars cannot be insured just for fire & theft the way you do furniture or stuff in your house. As even in the winter it can theoretically be started up with a key and ridden you need Liability insurance, the fire, theft, etc sits "on top" of the liability. Also just like a car you need the appropriate LICENSE to get auto insurance and the rider training course makes a massive difference on the first year rate. Yes you can buy the bike cash and if you have a garage, leave it uninsured until the Spring AFTER you pass the course but still risky. You gotta trust your locks and neighbourhood I guess. Ideally you buy a motorcycle after you get the licensing and training out of the way. Even if you insure with just the M1 license (without any training) you will pay through the nose (makes sense, just a written multiple choice test) and pretty much get stuck with that rate the whole year. Wayyyy cheaper and easier if you pass the course first, and you DO NOT have to officially wait for M2 status. The day you pass we can put you on the road at M2 rates. Now is the time to do research on bikes, insurance, etc.
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