What Is Your Insurance Cost? Td Meloche Raised Mine 53% In 4 Years - K-Bikes.com - Excellence in Motion
 
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post #1 of 3 (permalink) Old Jan 6th, 2016, 12:09 pm Thread Starter
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Join Date: Mar 2011
Location: Thunder Bay, ON, Canada
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Thumbs down What Is Your Insurance Cost? Td Meloche Raised Mine 53% In 4 Years

I went to purchase a good motorcycle for touring and also wanted reasonable insurance. The representative for TD MM gave me a quote of $585. I was impressed and asked why so reasonable. He stated it is a touring bike and BMW drivers are good drivers, this coupled with no claims or tickets and you are in a low risk area ( Thunder Bay - maybe because we only have 115 frost free days). Now the cost per year is $894 which is a 53% increase with a 26% increase this year alone) When I phone to ask why the increase I am told there are a number of variables. They cannot be specific and I cannot ask someone that came up with the calculation ( an actuary) as they do not talk directly with customers- maybe they are part of CISIS. IF YOU OWN A TOURING TYPE BIKE EG. GS GT RT WHAT DO YOU PAY PER YEAR for your bike with basic insurance 1 million PLPD, collision, and comprehensive?
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post #2 of 3 (permalink) Old Jan 10th, 2016, 4:26 pm
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Location: , , UK
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UK price converted to $s I pay $95 on MY97 K1200RS - old bike, old guy, bike too old for them to pay new value anyway and low annual mileage.

Do you know the insurance ripoff? First year or two they discount their price because the agents can sell using 'new customer/business discounts'. 2nd or 3rd year the re-insurance quotation bumps up the price and claws back discounted earlier year(s).

I will always get new quotes from different companies switching back and forth on alternate years and I never tell them up front what I've been quoted by others to stop them horse trading. They either give me their best lowest quote or I walk.



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post #3 of 3 (permalink) Old Feb 12th, 2016, 7:20 pm
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Join Date: Aug 2015
Location: Markham, , CA
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I pay C$80/PM for my 2006 K1200R. Insured by State Farm.

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