Alright, so as those of us in Canada know we get raped by insurance as it stands, 1600$ a year for my GS500f.
However, with Kingsway (unsure of others, waiting quote replies) they have moved up every bike from the Ninja 250, SVs 650, GS 500, etc to supersport!! I got my renewal in the mail and it's 6040$ a year. :o This paper is kind of confusing me (beyond the insane numbers) but I don't see collision on it either, that's w/ Liability, Accident Benefits (which is 4k) then property damages and a few others.
My insurance agent is freaking out because he's going out of business as well as being sued in 4 seperate cases for something (I didn't listen to his problems, a lot of junk against the gov't which I didn't call to hear.) He did however suggest going to www.easywayinsruance.ca and they work w/ a few other companies that might not have EVERYTHING as a supersport.
They said to call on monday and it might be changed back but there was no hint it was going to happen, but it's the last day it could or something.. :bs: My bike is worth 5k, that's 20% less then it will cost me to insure it for, so I am thinking of moving up to a GSXR if I am paying for a supersport anyways.
Quote from: DMac on April 26, 2006, 11:35:32 AM
Alright, so as those of us in Canada know we get raped by insurance as it stands, 1600$ a year for my GS500f.
However, with Kingsway (unsure of others, waiting quote replies) they have moved up every bike from the Ninja 250, SVs 650, GS 500, etc to supersport!! I got my renewal in the mail and it's 6040$ a year.
Yeah same thing happened to me ($700 jumped to $3500). Try an online quote with Primmum. I am able to get a rate of $700 per year with my M2 license for a 2006 GS500F. Other people suggested State Farm as well, but I dont think they provide quote online.
Good luck!!!
I heard good things about Primmum... None of them I care to share though... Good luck!
Quote from: DMac on April 26, 2006, 11:35:32 AM
I got my renewal in the mail and it's 6040$ a year. :o
??? ??? ??? This is just SO wrong! ??? ??? ???
Pandy, do you really have 10k+ posts? I think that is a big fat lie and that number is inflated by copying posts in the database... Because I could swear just a month ago you had 4,000... :icon_twisted:
Well everyone knows lovers of the purple are not to be trusted. Pandy is cheating us all!!! :kiss3:
Quote from: groff22 on April 26, 2006, 12:26:52 PM
Pandy, do you really have 10k+ posts? I think that is a big fat lie and that number is inflated by copying posts in the database... Because I could swear just a month ago you had 4,000... :icon_twisted:
Stop changing the subject! :flipoff: :icon_mrgreen: :kiss3:
What can I say? Vicodin makes me chatty! :icon_lol:
Quote from: groff22 on April 26, 2006, 12:26:52 PM
Pandy, do you really have 10k+ posts? I think that is a big fat lie and that number is inflated by copying posts in the database... Because I could swear just a month ago you had 4,000... :icon_twisted:
Hey, how dare you question the purple 'Motorcycle God'!!! :o
Quote from: bbq on April 26, 2006, 12:46:27 PM
Hey, how dare you question the purple 'Motorcycle God'!!! :o
purple 'Motorcycle Goddess" ... psssh, get it right!
I'm with kingsway.
I paid 2200 to insure this year. and will be canceling and selling my bike if they quote me anything more than 2500 for the GS. it is not worth it.
Quote from: bbq on April 26, 2006, 12:46:27 PM
Hey, how dare you question the purple 'Motorcycle God'!!! :o
:laugh: :kiss3: (pssst......errr.....gawdess... :icon_lol:)
Quote from: groff22 on April 26, 2006, 12:59:10 PM
purple 'Motorcycle Goddess" ... psssh, get it right!
:laugh: :kiss3:
I only pay $300.00 a year full coverage for my 05 GS 500 F . I have a [ umbrella policy ] which lowers the payment big time. My STATE FARM guy told me how the policy at $10.00 a month can save me hundreds on my vehicles plus it covers you in other ways too.It does not cost anything to ask. I have a clean driving record and insure my evil FORD truck with them also. CHEERS!
I paid 1750 for insurance from Kingsway on my gs500 with an M2 last year. Its coming up for renewal and I did a few online quotes and got outrageous figures - TD I think was about $6k. I've been thinking about moving down in size as a result - maybe a 49cc scooter?
-Fin
I'm with Pandy and all of you from the old country on this one. Seems like a form of legal stealing.
I like what Surley has come up with. Perhaps it's worth a cross-post to the Any Canadians?? (http://gstwins.com/gsboard/index.php?topic=23521.0) to get some heads together and share the best known way to minimize costs.
Time to get creative. Maybe work the phones, calling all the insurance companies listed in the yellow pages. If no luck, call you MPP, your MP, radio stations!! Hey, maybe a run on Queens Park with a convoy of GS500's. (http://www.3dflags.com/media/icon/classic/c/3dflagsdotcom_canad_2fawm.gif)
Gooooooo, Redshift!! Fire up those troops!! :icon_mrgreen:
I've said it before and I'll say it again.. You can't beat State Farm in Canada for motorcycle insurance. There is one catch though -- they won't insure just a bike. You'll need to move your car insurance or open a life insurance policy, whatever. As silly as this sounds get the cheapest life insurance policy they have and then get your bike insured. If you have a clean record you should not be paying more than $1000/year for insurance. For older GS's it should be substantially cheaper.
Check out the insurance (http://www.gtamotorcycle.com/forum/viewforum.php?f=21) section of the gtamotorcycle forum. You'll get all the information you need.
Last year I paid 1000 -full coverage- through a company called LGTrask. Judging from this thread, I'm almost scared to see how much my renewal will be this July.
Just to let ppl know, Primmum quoted me at 3500 and said it was a 'good price for someone my age.' I found another broker that works w/ a few different companies one was JevCo or something. Not sure how you spell it but going through easywayinonly concerns are surance.ca I managed to get it down to 2016. That's for liability w/ theft but w/o collision.
So far that's the best I can get, but I'll call State Farm tomorrow and see what I can get, but anyone else w/ ideas let me know.
Also, my parents live in Columbus Ohio and my dad is getting his M permit down there, how legal is it to get him to insure the bike w/ Ohio plates and all that then I drive it over the border. The way I see it I won't be claiming anything at all it's not worth it, so there will be liability on it and if I get pulled over it'll go on my license anyways. Anything I am missing here? Thanks
hm, Im 17, i paid 1900 last year. Is this a joke? are my rates going to go skyhigh?
edit.
So, i just checked online, and got $7604 for just liability :o
I can;t beleive that you guys don;t know that online quotes are BS. they're never accurate. call the companies if you want a quote.
yea, we'll see when i get the bill shortly
All my quotes have been on the phone, I agree online is BS. Demon what company are you w/ and paying what? HELP US!!
from what I know, if you want the best quote, call Jerry kaspard. 905-277-4158
these are the quotes he gave me;
93 GS500E-$2371
89 FZR600- $2390
so for $19 more, I could be ridding a full out super sport. for the whole thred on it, check out new bike advice (ftp://http://gstwins.com/gsboard/index.php?topic=25975.0)
Hey guys, does anyone know what's driving this bump in rates? Insurance is supposed to be data driven. Actuary tables and that sort of rot. After all, insurance is not like gasoline -- unless there's collusion. (http://img.photobucket.com/albums/v11/redshift/Poke.gif)
Where's there a will there's a way to lick this and find the best deal !! ;)
State farm is the way to go in the US as well. IF you insure your cage with them they will do a bike policy for a song and a dance.
I insured my hunk of crap 95 toyota truck with them (liability only) and they quoted me $300 per year for full coverage on the 04 SV650S. Thats 100/300/100 coverage with a $500 deductable. In some cases you might actually come out ahead titling and insuring a beater car with them to get the motorcycle policy rate. :dunno_white:
Redshift, I have been talking to a few ppl about why the rates shot up. What they've said is that there were a number of senseless deaths (the big ones in the news didn't have insurance) and those followed with a lare number of lawsuits against the insurance companies. From what I gather these were all on crusiers or SS but Kingsway (the company that jacked it all up and insured a lot of us last year) decided to jack up every bike.
Not sure if others have more info but that's what I have heard from a few brokers.
Our insurance renewed last month for $700 per bike (2004 GS500F and 2004 Vulcan EN500) (Southern Ontario)
But when I do an online quote now it says $800 for the Vulcan and $1800 for the GS500F. Something strange is going on.
I'm going to call the broker and see what's what.
Quote from: DMac on April 27, 2006, 11:44:48 AM
Redshift, I have been talking to a few ppl about why the rates shot up. What they've said is that there were a number of senseless deaths (the big ones in the news didn't have insurance) and those followed with a large number of lawsuits against the insurance companies. From what I gather these were all on crusiers or SS but Kingsway (the company that jacked it all up and insured a lot of us last year) decided to jack up every bike.
Not sure if others have more info but that's what I have heard from a few brokers.
Thanks for sharing DMac. Still don't understand it but sounds like a knee-jerk reaction to me. Senseless deaths + no insurance = stupid people.
Suspect there's a herd mentality regarding prices for MC insurance. The small population of operators hurts us. Jacking up rates won't help add riders.
But, guys, don't give up. Just like Daneilah here, believe the strategy of lumping multiple vehicles or home insurance into one company is probably the way to go to get the best price. More work, but if riding a motorcycle is one of your passion, it might well be worth it.
Holee.... I'm happy my policy renewed in January! I have full coverage through Primmum on my 2002 GS500e: $1280ish a year. I'm 29, licenced 6 years, riding for 4, one at fault claim 3 years ago.
Primmum has been pretty good to deal with, and it was a no questions asked ordeal when my bike went down. I have some serious issues with my claim history (Primmum thinks an idiot senior on his cell side swiping me equals my fault) but they fixed my bike without any hassles. That said, I know younger people with worse driving records insuring CBRs and R6s for less than I pay for mine through state farm.
I think that new riders are definitely going to reconsider getting a bike with quotes like that coming out. Those of us with acceptable policies will be able to buy a second (3rd, 4th or 5th) steed for pennies on the dollar when all this years newbies buy bikes, can't afford to put them on the road and have to sell them.
Oh yeah my favourite subject ...
I used to be at Primmem but now I'm at TD since they now insure bikes too. We have all our stuff (two cars and house) with them. I was paying $650 at Primmem with no collision. I sold the GS actually now. Now I have a 89 750 Kat that I pay $609 now with no collsion.
I cannot imagine having to pay $6000.
A friend of mine at work says her son who's 23 just got a bike ... an 83 450 Honda is paying $500 with no collision (glad to see he is starting out on a reasonable bike). This is through state farm which they have their other bikes / cars through.
I can't think of much reason to pay anything but liability on a GS. Considering that you're paying no more than $3000 for a fairly recent used model I can't see how the insurance is reasonable unless you live in a very high crime area (and stupid criminals... who steals a GS500 for joyriding?)
Funny ... I typed in "motorcycle insurance hike" into Google and almost all the webites that came up were to do with Ontario Motorcycle insurance increases! Proof that Ontario riders are getting screwed?!?!
Last year saw some companies requesting 30% increases with the Insurance Board of Ontario whereas some wer modest at only a couple percent. Kingsway was about 20%.
Wow.. you guys are getting shafted. Just for fun, I went to progressive to see what my insurance would be. For fun, I said I would be riding an '02 GS, parked in Atlanta, GA. My 12 month quote for liability was $144.00. I'm a 19 year old single male. WTF?
Talked to my insurance broker, and while I didn't get an explanation for why, the Katana and GS500 have been super-sported. Looks like it would have affected new quotes from April 1st and renewals from May 1st, so I just got in under the wire.
Hey I'm not knocking the GS, I really love my bike, but super-sport? Have any of these insurance guys actually ridden a GS?
Not sure if it's all insurance companies.... I'm insured with Kingsway.
So my renewal of $730 would now be in the $2000 range.
If this doesn't sort itself out by my next renewal, I might just be parking my bike and taking up golf again next summer. :mad:
It sounds as though insurance choices are fairly limited where the hikes are taking place, and it's the insurance companies re-rating the bikes as supersports, no? Insurance companies... :mad:
I was on an insurance hunt 2 weeks ago.
Called about 15 agents in Toronto. Most quotes were 3k-4k-5k range (mostly Kingsway), they all say it's because Kiongsway blacklisted the GS500 (???) and none of the brokers know why. I did get quoted $1500 (upfront) with Jevco (Quebec) ($900 if I had 2-3 yrs riding experience).
Best was $1100 for 11 months with Primmum. I went with that, more then happy to.
M2 last year, no riding experience aside from the MSF course I took. 26 years old. No tickets/accidents/claims.
Wow... that's all I can say. I'm in Vancouver and I'm used to having to dish out higher insurance then most people. But I'm only paying 2k/yr for my '05 GS500 w/ a 45% discount. I mean... that's with discount, but compared to yours... I'm never moving to Ontario. As if the Mosquito's weren't reason enough :p
Good news! The GS (along w/ Katana's and SVs and some others) have been taken off of the SS list after ppl flipped about it. I talked to my broker today and he said it should be done by next week. :cheers:
thank god..i almost started crying. So the GS isn't considered a supersport by Kingsway anymore?..or still?
Give it a week or so until it's all done.. It better not be longer because mine expires on the 12th
Just went to Kanetix.ca ... Kingsway is still showing nutty insurance rates on the GS.
Anyone hear anything?
I'm with State Farm, who holds my Condo insurance, a '00 Olds and my '97 4Runner. They said $1200/yr liability only if I buy a GS. It's actually a bit cheaper if I start a life insurance policy with them too.
M2, 26 y.o., one speeding 10/over 3 years ago, no accidents.
Simple fact: Medical costs huge dollars. It's not the bike they're worried about replacing. It's your spleen. Have you ever even TRIED to buy a spleen? They're bloody. I mean, bloody expensive... :laugh:
Seriously, it's the medical costs involved with motorcyclists. Doesn't really matter what kinda of bike you're riding. The SS, cruiser, etc. classes are just to figure what the likelyhood of it being involved. If 10,000 R6's crash one year, the rates on ALL R6's go up. If 10,000 scooters crash one year, the rates will go up. Simple math. And yes, insurance is legal thieft.
Anyone from Quebec watching this thread?
I just got my hands on the May'06 edition of Cycle Canada magazine, and the editorial is rather scathing on the moves that the Societe de l'Assurance Automobile du Quebec (SAAQ for short) is pulling on motorcyclists in "la belle province".
Heard that last week there was quite a rally in Montreal that tied up roads all over the place.
Would like to know the story from the "first person" perspective.