Gov't Run Insurance

[ezybass]

I live in BC, Canada and am trying to find out how much insurance coverage I should buy (and the costs) when buying a new bike worth approx. $10,000. I've tried calling a few insurance agents and as soon as you mention motorcycle insurance, you can hear them groan. I've learned that there is a significant difference in premiums for cc groups but each agent seems to have a different opinion as to these groupings. For instance, one agent told me anything between 751 cc-1100cc is significantly higher than 750cc or less. If this is true, perhaps I'd consider buying a 750cc Honda Aero over a Suzuki 800cc M50. The crazy part about this is that no agent would give me an exact quote for insurance (I asked for quotes on the 750 Aero, 800 cc Suzuki M50, and the Vulcan 900) unless I had already bought the bike.

Can anyone provide me with info on the cc groupings for insurance purposes in BC, also would like to know how much insurance (and types-liability, fire & theft, etc) I should carry on a $ 10,000 bike. I've had a clear driving record for at least 20 years (cage) but have been quoted rates as high as $ 1,600 for a year, ouch!

[DivideOverflow]

tell them you already bought the bike

[dr_bar]

Walk into any insurance broker, tell them a make and model and engine size, they can print out a quote fairly quick. If they say they can't, then tell them the broker down the street will...

These are your local brokers, You can also pop down to Parksville or where ever and get a quote.

Coastal Community Insurance Agencies Ltd.
120 West 2nd Avenue
Box 1198
Qualicum Beach, BC, V9K 1T3
Ph.: (250)752-3331
Fax: (250)752-9133
http://www.cccu.ca


Nanaimo Realty Insurance Services Ltd.
105 - 2nd Avenue
P.O. Box 1360
Qualicum Beach, BC, V9K 1T4
Ph.: (250)752-3086
Fax: (250)752-6715



Vancouver Island Insurancentres Inc.
#104 - 661 Primrose Street
Qualicum Beach, BC, V9K 2H5
Ph.: (250)752-6961
Fax: (250)752-6206
http://www.thwaitesnorris.com

Also, this is from the ICBC website FAQ's

Question

How do I get an insurance quote?

Answer

An insurance quote can be obtained by visiting your local Autoplan Broker.

[ezybass]

Phoned Coastal Community Ins. Co and asked for a quote on $10,000 collision & 1.0 Million liability insurance for the Honda 750cc Aero and the Suzuki 800cc M50. It would cost $1578.00 to insure the Honda and
$1892.00 for the Suzuki because it was 50cc over the 750cc category limit.

[BLKNSLVR]

I'm not familiar with Canadian insurance, but I spent many years in the insurance industry in the states. Insurance is pretty much insurance regardless of where one lives and the concepts are the same. Your liability coverage should cover all of your personal assets because this is what is going to protect you if you get sued. 10K in physical damage insurance should cover the bikes listed.

What is interesting about this thread is that it seems that a lot of automobile insurance carriers are still quoting motorcycle insurance by the cc. It is like selling health insurance by the pound. Are there no speciality carriers operating in Canada like Progressive or GEICO here in the states? Companies that specialize in motorcycle coverage typically take a more realistic approach to their pricing rather than how many cc's the bike is.

Greg

[blues2cruise]

Phoned Coastal Community Ins. Co and asked for a quote on $10,000 collision & 1.0 Million liability insurance for the Honda 750cc Aero and the Suzuki 800cc M50. It would cost $1578.00 to insure the Honda and
$1892.00 for the Suzuki because it was 50cc over the 750cc category limit.

The prices sound like an all ICBC coverage. Ask your insurance company to see if you can get the optional coverage through Beacon or Megson Fitzpatrick.

[canuckerjay]

I'm not familiar with Canadian insurance, but I spent many years in the insurance industry in the states. Insurance is pretty much insurance regardless of where one lives and the concepts are the same. Your liability coverage should cover all of your personal assets because this is what is going to protect you if you get sued. 10K in physical damage insurance should cover the bikes listed.

What is interesting about this thread is that it seems that a lot of automobile insurance carriers are still quoting motorcycle insurance by the cc. It is like selling health insurance by the pound. Are there no speciality carriers operating in Canada like Progressive or GEICO here in the states? Companies that specialize in motorcycle coverage typically take a more realistic approach to their pricing rather than how many cc's the bike is.



Greg

He's in BC, I'm in Ontario. Insurance varies from province to province. Here, we've got only a couple that tend to really understand Bikes. Of them, I could only speak on Riders Plus, which was the only company who listened after asking how big my engine was when I told them "but it's a v-twin cruiser". Yes - it matters. Everyone else (including the company I have my home and auto ins with) wigged out with insane prices when they heard "1100 cc".

[dr_bar]

Ask your insurance company to see if you can get the optional coverage through Beacon or Megson Fitzpatrick.

I'm willing to bet he doesn't qualify. Don't you have to have a certain number of years of driving under your belt for either of those.

[ezybass]

Megson Fitzpatrick: must have had a motorcycle or car drivers licence for at least 10 years. I've had a car drivers licence for close to 45 years so I think I would qualify for motorcycle insurance but before I do any more calling for quotes, I'll first pass my Motorcycle Rider Safety Course which I begin this Saturday and am a little nervous about. Then, I'll really get serious about getting quotes on my three choices of bikes: Honda Shadow Aero 750, Suzuki Boulevard M50 and the Kawasaki Vulcan 900.

[blues2cruise]

Try to think of it as a fun thing to do instead of it being the end of the world.

Actually, it was a fun thing to do, come to think of it.

Give us an update after the first class and let us know how the first day went.