Insurance

John Hopkins · March 01, 2015, 16:43:08 PM

This all sounds very strange to me, I look at the prices some of you people buy motorcycles for, then I look at the price you are paying for compulsory insurance and it is a large percentage of the bike price every year, I pay about the same price as you do for a Vulcan Drifter 1500cc and I get screwed for about $90 (£59) a year for basic insurance..

If I lived on the North American continent in these days of international finance I would be looking for insurance abroad, It's only an electronic financial transaction, and if enough of you did it the price of insurance would drop like a stone..

Maybe you should talk to a legal financial advisor.

John.

CDNRatMan · March 01, 2015, 15:31:33 PM

Not in FL but PC is always looking for people to move down with him, in IN.........

Tim · March 01, 2015, 14:49:06 PM

Man we get hosed in Canada! It only takes one trip to the States to see what things should cost.
Anyone in Florida want to adopt me?

Bucko · March 01, 2015, 14:38:05 PM

Quote from: Tim on March 01, 2015, 13:31:18 PM
Hey Bucko I am in Kelowna so I will be dealing with icbc too.
Can I ask what your 3 months costs? Does it include theft?
Cheers

Hi Tim:
In round figures it's about $130/month and that does not include fire or theft, just the basic. I can't remember what I paid exactly last year - in a fit of ignorance, I insured for 7 months and never rode a foot in the last three months. Won't make that mistake again. I think your ICBC rate in the valley should be a bit less than here in the lower mainland.

I used to buy optional fire and theft coverage from a non ICBC insurer, and that was about $500 for a full year (couldn't buy less than a year's worth) - about $600 less than ICBC for similar coverage. Since I ride the Drifter for so few months per year and since it's residual value is getting lower every year, I finally dumped the optional fire and theft a few years ago (partially because the cost of coverage was going up but the value of the bike was going down -dramatically - wtf? ).

CDNRatMan · March 01, 2015, 14:01:37 PM

I have full coverage here in Ont. and you are correct you have to insure it for the full year none of this half year stuff anymore, full year full coverage. Because I took some time off of the life style and did not have motorcycle coverage, I had to start over at 0 and it was expensive, now this month I will be reaching a slight milestone in age, and I am really curious if that will make a change in my cost of coverage, but for full coverage and all the good stuff, I am paying $745.00 for the pleasure of riding.......

Tim · March 01, 2015, 13:31:18 PM

Hey Bucko I am in Kelowna so I will be dealing with icbc too.
Can I ask what your 3 months costs? Does it include theft?
Cheers

Bucko · February 28, 2015, 23:07:34 PM

If I were to insure my 01, 1500 here in BC for a full year (which I don't) and with full coverage (which I don't) the cost, with the maximum ICBC safe driver discount of 43% would be $2600 per year the last time I checked. Fortunately $:-\$ since it rains here in Vancouver about 10 moths a year (not this year it seems ), I only insure for about 3 months which cuts the cost down significantly, but it's still outrageous given it's only 3 months coverage.

CDNRatMan · February 28, 2015, 21:02:57 PM

So it is not you the RCMP are looking for, must be 49 he is the only BCit whom would do this.....not Tim nor Bucko...they are safe .....

Tim · February 28, 2015, 20:19:33 PM

Troll: *jealous!*

Ratman: haha no, but I've been there. Briefly.

CDNRatMan · February 28, 2015, 18:53:51 PM

Tim you don't live in Surrey now do you?

Troll · February 28, 2015, 18:42:19 PM

Quote from: Tim on February 28, 2015, 16:16:50 PM
Hi John
When I was living in Ontario they wanted $1200 a year insurance for 1 bike! Disgusting. Especially since you can really only ride six months of the year tops but you have to insure for 12. Its a bit better here in BC but not as good as a fellow I met in Florida - $200 a year! Man I would love to move there.

I don't know what my renewal will be, but I have had both my bikes (1500 Drifter and W-650) covered with the maximum amount of insurance allowed for motorcycles and a "0" deductible and towing/roadside assistance and helmet/clothing replacement for just over $200 since I signed on with ALLSTATE in 2010...It actually went down last year to $199....

John Hopkins · February 28, 2015, 18:21:01 PM

The thing that gets me is I have just insured my Drifter for $90 for the year but to add another three bikes to cover the same period, with no cover for damage to my own bike will cost me $450..

And that is with 55 years riding and no accidents.

John.

Tim · February 28, 2015, 16:16:50 PM

Hi John
When I was living in Ontario they wanted $1200 a year insurance for 1 bike! Disgusting. Especially since you can really only ride six months of the year tops but you have to insure for 12. Its a bit better here in BC but not as good as a fellow I met in Florida - $200 a year! Man I would love to move there.

John Hopkins · February 28, 2015, 16:11:42 PM

I've got a 1999 VN1500/ J1 registered in England in 2000, however that doesn't mean a lot here, I have just offered to buy another J1 that was registered in England in 2002..

Total madness I know because this will bring my bike total up to four and I can only ride one at a time, compulsory insurance will be four times as much, so will yearly taxes and road worthy tests, bringing my costs to wheel all of them out of my garage and onto the road up to $1,150 per year..

God only knows what it would cost for some of you youngsters.

John.