Author Topic: The Insurance Question (Read 4738 times)

mademiriam · « **on:** May 31, 2007, 03:29:35 PM »

Anybody have a hint as to who I should go with on bike insurance in Nova Scotia?
Full coverage on the bandit has been quoted at over $1000 everywhere I've gone. I knew it would be bad but I must say $1000?

Vlad · « **Reply #1 on:** May 31, 2007, 03:37:56 PM »

Sorry I can't be of help, but you are lucky you don't live in Ontario. I'm paying 1.100 for theft+fire, and I'm 44 with spotless driving record.

stormi · « **Reply #2 on:** June 01, 2007, 01:51:48 AM »

Have you tried TD insurance? They're underwritten by meloche melynk ( I think that's the spelling)

You can get a quote online, but I can tell you that I use them for all of our bikes, and I ran into a kid in the same town as me this week that said he's insuring the b12 his dad and he ride for less than the 919. My 919 is insured for under $600 with full coverage (incl collision, and comprehensive(theft fire))

My previous ins co wanted $1200/yr for the same coverage, IF their underwriter would cover me on a "sport" bike, which the 919 and B400 were both classified as?!?!?

I'm in Alberta, but I can't see it being -that- much worse there than here.

Oh yeah, and I'm 32, and when I first moved my insurance to TD, I was either less than 1yr or just over 1 yr licensed. (I can't recall when I moved it, but I think it was April of last year, and I was licensed the May before.)

mademiriam · « **Reply #3 on:** June 02, 2007, 01:32:28 AM »

yes well no i just wish i lived in alberta...I was hoping to get $600 or so somewhere...TD wants over $1000 as well, nice that they have an online quote though.
Thanks for the input guys.

GooseMan · « **Reply #4 on:** June 02, 2007, 11:26:43 AM »

I'm paying $89/year for my B4 with TD! Well, it is an old bike, and its only one way insurance, but thats not bad! I think I'm gonna sell my car!

If you want a good rate, try getting a quote from your car and/or home insurance. You can get a discount on all three if you go with the same company....something I should really do

stormi · « **Reply #5 on:** June 02, 2007, 01:14:56 PM »

Did you actually call TD? Their quote system is weird, it's reasonably good, but the operators will often have other discounts that they can give you. I had a really good one, and he managed to get it down from something like $750 to under $600.

Caper#5 · « **Reply #6 on:** June 07, 2007, 03:32:46 AM »

Try Allstate, I paid roughly $700 last year for first time rider, full coverage on '05 650 bandit. They don't insure all bikes but they do insure the Bandit. I called around and Allstate was by far the cheapest, but I have 2 cars and my house insurance through them as well.

Doesn't hurt to call for a quote, hope this helps!

mademiriam · « **Reply #7 on:** June 10, 2007, 09:40:17 AM »

Just added simply PLPD to my auto insurance $240 for the year, once I get all the final kinks worked out I can always up my coverage. This covers me for test rides. I guess I'll be calling TD when that times comes.

Barbarian · « **Reply #8 on:** June 13, 2007, 11:38:54 AM »

Do you have any insurance brokers out in NS? Yes you do.

Call one of these pronto, and let them do all the hard work.

For my 650, my car and house insurer wanted $1200 a year.
TD? $750.
My broker got my insurance down to $346/year. I could have gone down to $250, but I'm willing to shell out a few bucks for roadside assistance, three-year full value indemnity and an extra 10k for my wife and kid if I die on the bike.
My actual policy is with Axa.

stormi · « **Reply #9 on:** June 13, 2007, 01:52:22 PM »

Isn't that funny! My broker found me ins for all 3 bikes for about $2000. Where as with TD, I pay around $1200 for all three.

Of course, not all brokers deal with the same underwriters, so even with a broker, you may have to try a few.

My "choices" with the broker I was with were:

Kingsway - IF they'd take the policy, then it would have been about $1350, but my broker was 99% sure they wouldn't, as I was a <1yr licensed rider.

Jevco - specifically insures motorcycles, but they won't insure "sport" bikes, and considered both the Bandit 400 and the 919 sport bikes, despite their classifications otherwise, and seriously,.. a B4 as a sportbike?

ING - same policy as Jevco, additionally, they will not insure bikes more than 10yrs old.

and Royal Facility, they're the "you really screwed up big now kid,... oh! You say you wanna insure it? oh,..legally you must? Bend over..."

Really, it would seem that a lot of insurance companies in Canada need to learn a little about bikes, and start to realize that they're becoming more and more plentiful. OR, we need to start to be able to buy ins out of the states, and open up a little more competition.

Barbarian · « **Reply #10 on:** June 13, 2007, 05:23:54 PM »

Get thee to your dealer and ask if they have a recommendation. Yeah, you may not have bought your bike there, but you buy enough parts/service that they know you, and they ride too, eh?

mademiriam · « **Reply #11 on:** June 13, 2007, 06:18:37 PM »

funny should have probably mentioned, talked to lots of brokers probably close to 10, asked around, got my friends insurance information and even posted on a local motorcycle facebook group. I'm confident I got a good deal considering events in Nova Scotia. Nova Scotia has made it difficult for several underwriters to insure motorcycles. I've heard this not from one broker but from most of them.
Since I legally need to have it there is no getting around it.
Also several of them would only considering insuring the bike if I moved my car insurance as well. I get a great deal on that from my current insurance company which just happens to be 100 miles away. Really I was glad they eventually got me a bike insurance quote I could live with.

Barbarian · « **Reply #12 on:** June 14, 2007, 10:20:39 AM »

Provincial differences...