Renewal time - When to Jevco rates get adjusted for the spring? | GTAMotorcycle.com

Renewal time - When to Jevco rates get adjusted for the spring?

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fusion2k

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Hello all,

I currently ride a 2001 Honda VFR800 Interceptor. I am currently insured with TD and I pay about $1500 per year. My renewal is February 22nd. I currently have a full M, been riding and insured since 09. No tickets but an at fault car accident a few years ago. I'm currently 29 years old, but I turn 30 on March 20th.

The quotes I'm getting based on my current age are in the 1350-2000 range. Best rate I can get so far is with TD. However, if I adjust the online quoting and say that I am 30, everything magically drops and I am suddenly in the range of 900-1500. I have spoken to TD regarding giving me the break when I turn 30 but they will only allow me to renew the policy on current terms. Seems that most companies that this is the norm.

Jevco is the company giving me the 900 quote. When do they increase their rates for spring? Being that I probably wont be riding until March 20th, I am considering just cancelling my current policy on the 22nd, parking the bike in a secure location, and come march 20th, open a new policy. I dont like going without insurance but is there any better way to solve this problem? I've talked to several people at TD and they seem to keep giving me the runaround.

Thanks for the advice.
 
Your best bet would be to wait until you're 30 and since its only a month away from your renewal it shouldnt be too much of a concern.
2 things you should probably consider though
1: keep the bike secure until coverage is back on
2: the lapse in insurance -even though its only a month may affect your record for future insurance - most bike insurance companies like to see consecutive motorcycle insurance.
 
fusion2k said:
Hello all,

I currently ride a 2001 Honda VFR800 Interceptor. I am currently insured with TD and I pay about $1500 per year. My renewal is February 22nd. I currently have a full M, been riding and insured since 09. No tickets but an at fault car accident a few years ago. I'm currently 29 years old, but I turn 30 on March 20th.

The quotes I'm getting based on my current age are in the 1350-2000 range. Best rate I can get so far is with TD. However, if I adjust the online quoting and say that I am 30, everything magically drops and I am suddenly in the range of 900-1500. I have spoken to TD regarding giving me the break when I turn 30 but they will only allow me to renew the policy on current terms. Seems that most companies that this is the norm.

Jevco is the company giving me the 900 quote. When do they increase their rates for spring? Being that I probably wont be riding until March 20th, I am considering just cancelling my current policy on the 22nd, parking the bike in a secure location, and come march 20th, open a new policy. I dont like going without insurance but is there any better way to solve this problem? I've talked to several people at TD and they seem to keep giving me the runaround.

Thanks for the advice.
Click to expand...

Any good broker can help you out.

When I was on the cusp of a birthday and renewal, they pro-rated me, so similar to your scenario, Pay 1 month at age X, then pay 11 months at Age X+Y.
If you're using that online quote stuff, don't read too much in to it, they've been known to be inaccurate.

In your position, I would call Cornerstone or John Duffy and get some quotes, explaining your situation in detail and what you'd like.

Good luck.
 
HEY, i just took your advise and put in 30 years old on my jevco quotes! MAN ALIVE.
they went from 1500 to 900!!

WTF because you know, a 30 year old with 1 year experience is better than a 28 year old with 7 years experience...makes sens eh!?!?
 
djbordie said:
HEY, i just took your advise and put in 30 years old on my jevco quotes! MAN ALIVE.
they went from 1500 to 900!!

WTF because you know, a 30 year old with 1 year experience is better than a 28 year old with 7 years experience...makes sens eh!?!?
Click to expand...

Which bike?
 
FYI. Jeevco is adjusting their rates for motorcycles starting in late april or early may to 17% hike.

This all comes after Intact bought them out.
 
2003 z1000.

Inferno, where's your source bro!? hah. Im scared now.

So i went down from 1550 to 1450 with the existing policy/bike. I cant find a better rate anywhere.

I hate to think that Intact will increase the rates though. people are going to flee. If they did a 10 percent decrease across the board they would probably be better off.
 
djbordie said:
2003 z1000.

Inferno, where's your source bro!? hah. Im scared now.

So i went down from 1550 to 1450 with the existing policy/bike. I cant find a better rate anywhere.



I hate to think that Intact will increase the rates though. people are going to flee. If they did a 10 percent decrease across the board they would probably be better off.
Click to expand...


Inside info .

:)
 
djbordie said:
cheeky, well we shall see then.

**** if i will ever be able to insure any bike over 600cc for less than 1000$.
Probably not in my lifetime. :(
Click to expand...


Change your location. GTA is what's hurting all of us.
 
I dont know bout that, i have tried quoting bobcaygeon ontario and have not gotten a very large difference.

I used to live in whitby too, not much different.

weird.
 
From what I know location has a very small impact on motorcycle insurance. It has GREAT impact on auto insurance though.
 
My Jevco/Intact rate went up 26.1% No claims, no tickets. I guess Intact want me to help pay for buying Jevco, lol. Not going to happen, I'm moving on.
 
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