Renewal Suprize

[Froglet]

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I just received my renewal from TD.

OUCH!!! :confused2:
My premiums were $597 last year, this year's premium comes in at $980 with no change in coverage - a 60% increase!
It's a stand alone policy.

I'm female, 49, 2004 Suzuki Katana 600, M licence since 1992, living in Clarington, no tickets or claims.
The rep at TD said the reason for the 60% increase is that there are more bikes on the road, hence more claims.

What a bunch of crock, especially when not all TD motorcycle policy premiums increased!! Some even went down from what I've read here.
If you're going to increase premiums, at least be consistent and logical.

We've been with Intact insurance for our home and cars for a few years now, and couldn't get a better rate for the bike even with multi-vehicle discount in the past.
Just talked to our broker now and my premium will be $637 (with Intact).
I'm relieved for now

I bet I'm probably going to have to do this all over again next year though.....

 

[sharpz]

I've also been holding my breath since those reports late last year about these increased premiums....
i'm 24, full m, no tickets/claims, 75% increase with TD....and i thought getting my full M would drop premiums *sigh*

 

[ZX600]

Good to know, thanks.

BTW, it was your contact Chris that I got the price from, so thanks for that as well.

Update: checked reviews and between primumm/TDMM/allstate/aviva they all have similar poor reviews with none looking like a better option service-wise.

That is GOOD/BAD to know lol.

I had my bike totaled when I was with State Farm and the experience was great, I got a fair amount and the issue was dealt with very well. I also really liked the agent I used to deal with in Ajax. But with Aviva giving me savings of 1500 (this is before I even got my renewal with the supposed increase) I just couldn't pass. SO hopefully if I ever have to deal with them it would be comparable to SF but I doubt it.

 

[AF4iK]

I had my bike totaled when I was with State Farm and the experience was great, I got a fair amount and the issue was dealt with very well. I also really liked the agent I used to deal with in Ajax.

Same here! SF was actually really helpful and handled the claim quickly. I was really surprised at how good the service was and how reasonable the pay out for the bike was.

 

[PrivatePilot]

I keep wishing BelAir would take on the motorcycle market. I have everything (3 cars, horse trailer, house) with them and would love to put my bikes there as well assuming they were competitive, but they're a hold out.

Primary reason for such would be simplicity obviously, I would assume some sort of bulk discount on the bikes hopefully, and when I have needed to make claims over the 17 or so years we've been with them now the process was nothing short of a pleasure.

 

[vsnlweb]

I've also been holding my breath since those reports late last year about these increased premiums....
i'm 24, full m, no tickets/claims, 75% increase with TD....and i thought getting my full M would drop premiums *sigh*

It's also your age unfortunately. I am assuming you ride a SS. Those are usually a little more involved when it comes to insuring.

 

[Twotons]

TDMM renewal arrived. 22% increase to $1,480; 2014 R6, standalone policy, clean record, peel region, full M, 30+, $2m/500/500 ded., not driven to work. Mandatory accident benefits cost $960 of this total. No surprise..I'll still shop around but I don't expect better pricing.

 

[dina]

reading this thread makes me think my quote aint too bad.

95 shadow 600
27 male- Toronto
m1, Clean G since 2007.
no accidents no tickets

$1420/year

 

[Joe Bass]

@Froglet, so now they are targeting those 49 year old female motorcycling hoodlums, huh? ☺
That's a disgusting rate increase. Crazy how we are "relived" to only be paying $50 more a year.
I'm beginning to understand why all those 250s on Kijiji are priced so high, soon those and 50cc scooters will be the only things most of us will be able to afford to insure.

Sent from a Samsung Galaxy far, far away using Tapatalk

 

[Joe Bass]

TDMM renewal arrived. 22% increase to $1,480; 2014 R6, standalone policy, clean record, peel region, full M, 30+, $2m/500/500 ded., not driven to work. Mandatory accident benefits cost $960 of this total. No surprise..I'll still shop around but I don't expect better pricing.

Dare I say that some people might be hoping to pay what you are, for that bike?
But increases still suck.


Sent from a Samsung Galaxy far, far away using Tapatalk

 

[Twotons]

I didn't post to rub salt into wounds..just sharing so we all know what is out there, especially for SS riders.

 

[Joe Bass]

I didn't post to rub salt into wounds..just sharing so we all know what is out there, especially for SS riders.

Didn't take it that way.
Didn't mean my post to sound that way.
I know what you meant. (Sharing>so we all have the knowledge/ know that some deals are still to be had)
Curious, are other R6 riders finding the same thing? I know there are a few bikes that somehow go 'under the radar'. Is this one of them?

This thread may have become the answer to those " how much will insurance be?" threads. Yes, many factors come into play, but if 5 25 yo males in Toronto with an M riding a gsxr 750 for $XXX, it could be a good starting point.

Sent from a Samsung Galaxy far, far away using Tapatalk

 

[Slowandsteady]

reading this thread makes me think my quote aint too bad.

95 shadow 600
27 male- Toronto
m1, Clean G since 2007.
no accidents no tickets

$1420/year

What company is that with?

 

[Joe Bass]

WTF?!?!
Anyone experience this? Is that why they are raping the motorcyclists?

https://twitter.com/ihcom/status/689205885743185920

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[inreb]

I think TD has a very good CEO. He/she is earning their keep. This is as it should be. Currently sitting at $1800 for two bike. Hope to get that over $2000 next year. CEO might need to sharpen pencil. Gov. intervention may help.

 

[Froglet]

Ummmmm.......I don't think so. Our rates for both home and auto have been rising every year - No claims or tickets.
Now, I though the Liberals were supposed to reduce the rates by 15%.
I'm still waiting.

 

[inreb]

Ummmmm.......I don't think so. Our rates for both home and auto have been rising every year - No claims or tickets.
Now, I though the Liberals were supposed to reduce the rates by 15%.
I'm still waiting.

Everything rises every year, so in fact, a rise is actually a stagnation. The fact that it didn't rise 15%+ more then the stagnated rise clearly indicates 15% savings or more. In capitalism, where no penny should left on the table, this strategy serves the company, customer, government and welfare mothers. Win/win/win/win.

 

[Froglet]

I get what you're saying about everything rising. I'm referring to this, actually:
http://www.cbc.ca/news/canada/toron...-up-slightly-despite-liberal-pledge-1.3154381

Everything rises every year, so in fact, a rise is actually a stagnation. The fact that it didn't rise 15%+ more then the stagnated rise clearly indicates 15% savings or more. In capitalism, where no penny should left on the table, this strategy serves the company, customer, government and welfare mothers. Win/win/win/win.

 

[lytew8]

My research example for 2016.

31yrs old.
Clean Record 10+ Years.
Full G Full M
2006 Honda CBR600F4i

Liability only. (Minimum coverage requested on telephone conversations on Jan 18)

TD = $1143 (30% flat increase) (Accident Benefits Increased directly from 669 to 942 = 40%increase!!!)
RBC = $1235
Surnet = $1500
StateFarm = $2235
Allstate = $750 but need to add 300$ renter policy. = $1050
*Allstate(30% discount on Motorcycle policy if you have other insurance)

+ New tires, new chain, new sprockets, new gear,etc. And I can't go enjoy the US as cheaply as before

 

[inreb]

I get what you're saying about everything rising. I'm referring to this, actually:
http://www.cbc.ca/news/canada/toron...-up-slightly-despite-liberal-pledge-1.3154381

Oops you didn't read my post sarcastically as written. Rates were supposed to go down on average 15%. Hence, I would expect them to be 15% lower on average on renewal. Like when I open my envelope from TD I'd be like "damn my insurance went down 20% I guess some other suckers' only went down 10%!" That didn't happen. It was more along the lines of "damn my insurance went up double digit actual numbers TBD"

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