TD Insurance rate hikes?

BTW I was also told by a number of them that insurance is both based on your own history (duh) but also the history of the bike you choose to ride. For example, you could have a perfect record on bike and car, and 10 years experience with no tickets, but say you ride a Ninja 250R and many new riders crash that bike in one year, then your rates will skyrocket since that bike is now 'higher risk' than other bikes. In this way, the HP4 can technically be cheaper than some other bikes, since they don't sell a lot of them, so there will never be that many accidents/crashes. When shopping around, I found that in 2014 TD MM jumped the Ninja 650R from around 1100/year to around 2000/year for that very reason.

Gotta love how they can penalize you for being bad, but also penalize you when others are bad, and just happen to ride the same thing.
 
TD insurance renewal on my KLX250S just went up 14.3% with no claims. Quote from TD Meloche Monnex is 1/3 cheaper for same coverage.
 
conundrum said:
BTW I was also told by a number of them that insurance is both based on your own history (duh) but also the history of the bike you choose to ride. For example, you could have a perfect record on bike and car, and 10 years experience with no tickets, but say you ride a Ninja 250R and many new riders crash that bike in one year, then your rates will skyrocket since that bike is now 'higher risk' than other bikes. In this way, the HP4 can technically be cheaper than some other bikes, since they don't sell a lot of them, so there will never be that many accidents/crashes. When shopping around, I found that in 2014 TD MM jumped the Ninja 650R from around 1100/year to around 2000/year for that very reason.

Gotta love how they can penalize you for being bad, but also penalize you when others are bad, and just happen to ride the same thing.
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They rate cars that way, but not bikes. I dunno if our resident actuary weighs in on this stuff anymore, but we would likely benefit if they DID rate bikes this way.

The way it's supposed to work for cars is to isolate the driver related factors from the car related factors. i.e. some cars are more expensive to fix than others, some cars result in the occupants getting more injured (on average) than others, some cars *cause* more damage than others, etc. You might be able to reasonably differentiate bikes on cost of repair, but they are all pretty level on their ability to protect the rider (wonder if the Goldwing airbag ended up making a statistically significant difference)
 
hi coming from an owner of both BMW s1000rr and HP4
my S1000rr is $1700 a year and my HP4 is only $1000
so yes they do rate you by what you ride
i hear Aprlia is the cheapest bike to insure

TwistedKestrel said:
They rate cars that way, but not bikes. I dunno if our resident actuary weighs in on this stuff anymore, but we would likely benefit if they DID rate bikes this way.

The way it's supposed to work for cars is to isolate the driver related factors from the car related factors. i.e. some cars are more expensive to fix than others, some cars result in the occupants getting more injured (on average) than others, some cars *cause* more damage than others, etc. You might be able to reasonably differentiate bikes on cost of repair, but they are all pretty level on their ability to protect the rider (wonder if the Goldwing airbag ended up making a statistically significant difference)
Click to expand...
 
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