Insurance advice - BC, Canada

canadius_maximus · 12-07-2006, 05:23 PM

Please forgive me if this is the wrong place - best I could think of given I'm from Canada ...

As part of shopping for a new bike, I've asked for quotes on various bikes. When I last rode a few years ago, that was in Calgary. But now, in BC, I'm shocked at the quotes I've gotten to insure a late-model (02-04) KLR. Liab of $584 .... Comp of $452 .... What gives? I have a safe, clean record, (ok 1 speeding ticket 3 years ago) and no at-fault accident for over 12 years.

I tried Canadian Western Direct, but they'd only insure touring bikes, Harleys, etc - AND driving for 20 years. I've been driving for 18 ...

What are some of you BC KLR-ers paying for Liab and comp? I'm not going to bother on collision .... Agencies you'd recommend? I've been hoping to make this a slightly cheaper commuting alternative to my family-mobile Volvo 240 .... so far, it's looking like the very opposite.

Many, many thanks in advance for your help.

Shewbert · 12-07-2006, 06:10 PM

Welcome to the club!!!!! No real breaks on insurance for bikes here.

Call Megson Fitzpatrick in Victoria 250-595-5212 and ask for the Motorcycle Dept. or website www.megsonfitzpatrick.com They are agents for ING and were the best that I found. Helps if you've had the MSF.

Others may have different opinions. My R12GS for ICBC (Lia. & mandatory) and comp. (private) for 12 mos. is just shy of $1,700.00.

You just have to decide how bad do you want to ride!

Have heard there may be an agent in Salmon Arm that may have good deals but can't offer any other info. I know there are Advriders in that area that may be able to offer some info.

Good Luck!

Commuter Boy · 12-07-2006, 10:00 PM

You should factor in that you can ride all year round in Vancouver, so more accidents, and this is also vehicle theft central for North America.

PLPD rates are by displacement, with jumps at 400cc, 750cc, and I think 1050cc. You fall into the second bracket, so that sounds about right with a full experience discount.

Comprehensive is on a "declared value" basis, so you get what you pay for. Beware, ICBC will only pay out on street value, not declared value, so don't shoot yourself in the foot paying for coverage you can't use. For a used KLR you won't get more than $4k used, so you should really consider whether or not comp. coverage is even worth it.

Hint: Ask the Autoplan broker how much you would have to drop down your declared value to hit the lower range of costs. Sometimes paying for $4999 is a heck of a lot cheaper than $5,000.

Look at topping up the coverage with extra Loss of Use coverage. For a minimal fee you can actually get a decent replacement vehicle while you're waiting for ICBC to finish screwing you during an extended claims process.

tackle_me_2 · 12-07-2006, 11:44 PM

The optional stuff with ICBC is more pricy. Like Shewbert said, try Magson. Their rates are better, and service is better. I think my comprehensive stuff is $440 for one full year from Magson (on my FZ6).

canuck · 12-08-2006, 07:32 AM

Another option instead of Megson is Coast Capital Savings. I have used them for the last 3 years and have no complaints.

Fred · 12-08-2006, 07:36 AM

I agree with what's been said about full comp and the value of your bike. I've owned bikes while in BC since 1974 and have never had full comp on any of them. Only 1 has been stolen and that was an old DR350 that didn't run and was in the back of my pick up, which also was stolen. I had theft coverage on the truck but not on the bike. So, for over 30 years of bike ownership, add up the yearly cost of full comp compared to the value of a non-running DR350 and I'm still way ahead financially speaking.

Of course, I allways park my bike where I can see it and when I have to go somewhere where it will be out of sight I take my 4 wheels. Locked garage etc.

canadius_maximus · 12-09-2006, 07:42 AM

Wow - that's great help - thanks!

cm

dirtydeeds · 12-16-2006, 12:03 AM

Quote:

Originally Posted by Commuter Boy

PLPD rates are by displacement, with jumps at 400cc, 750cc, and I think 1050cc. You fall into the second bracket, so that sounds about right with a full experience discount.

Go to the first Bracket. Ride a 400 'till you qualify for the 20 year discount. Just a thought. Or move back to Alberta.

Colpitts · 12-16-2006, 08:30 AM

Give TD Primmium a call. They had the best prices I could find anywhere.

rider-geek · 12-16-2006, 09:55 AM

Check out Beacon insurance, they're based in the Okanagan and specialise in insuring recreational vehicles(bikes, boats, etc).

Full replacement value coverage on the comp side for my 04 Strom is $325 a year.

They don't insure sportbikes but will insure pretty much anything else as long as you have a clean record.

Find them here

12-07-2006, 05:23 PM	#1
canadius_maximus ^OP Quaere verum - Seek truth Joined: Nov 2006 Location: Lower Mainland, BC, Canada Oddometer: 238	Insurance advice - BC, Canada Please forgive me if this is the wrong place - best I could think of given I'm from Canada ... As part of shopping for a new bike, I've asked for quotes on various bikes. When I last rode a few years ago, that was in Calgary. But now, in BC, I'm shocked at the quotes I've gotten to insure a late-model (02-04) KLR. Liab of $584 .... Comp of $452 .... What gives? I have a safe, clean record, (ok 1 speeding ticket 3 years ago) and no at-fault accident for over 12 years. I tried Canadian Western Direct, but they'd only insure touring bikes, Harleys, etc - AND driving for 20 years. I've been driving for 18 ... What are some of you BC KLR-ers paying for Liab and comp? I'm not going to bother on collision .... Agencies you'd recommend? I've been hoping to make this a slightly cheaper commuting alternative to my family-mobile Volvo 240 .... so far, it's looking like the very opposite. Many, many thanks in advance for your help. __________________ "He is no fool who gives what he cannot keep, to gain that which he cannot lose." - Jim Elliot

12-07-2006, 06:10 PM	#2
Shewbert Gnarly Adventurer Joined: Aug 2006 Location: B.C., Canada eh! Oddometer: 117	Welcome to the club!!!!! No real breaks on insurance for bikes here. Call Megson Fitzpatrick in Victoria 250-595-5212 and ask for the Motorcycle Dept. or website www.megsonfitzpatrick.com They are agents for ING and were the best that I found. Helps if you've had the MSF. Others may have different opinions. My R12GS for ICBC (Lia. & mandatory) and comp. (private) for 12 mos. is just shy of $1,700.00. You just have to decide how bad do you want to ride! Have heard there may be an agent in Salmon Arm that may have good deals but can't offer any other info. I know there are Advriders in that area that may be able to offer some info. Good Luck! __________________ Don't sweat the petty stuff and don't pet the sweaty stuff!

12-08-2006, 07:32 AM	#5
canuck Gnarly Adventurer Joined: Jun 2002 Location: Vancouver B.C. Canada Oddometer: 395	Another option instead of Megson is Coast Capital Savings. I have used them for the last 3 years and have no complaints. __________________ $5 off your SmugMug account !! Use coupon code o4aD3CGLhn5yM when you sign up !!

12-09-2006, 07:42 AM	#7
canadius_maximus ^OP Quaere verum - Seek truth Joined: Nov 2006 Location: Lower Mainland, BC, Canada Oddometer: 238	Wow - that's great help - thanks! cm __________________ "He is no fool who gives what he cannot keep, to gain that which he cannot lose." - Jim Elliot

12-16-2006, 08:30 AM	#9
Colpitts poop Joined: Apr 2006 Location: Sussex NB Oddometer: 113	Give TD Primmium a call. They had the best prices I could find anywhere. __________________ See ya

12-07-2006, 10:00 PM	#3
Commuter Boy Beastly Adventurer Joined: Dec 2003 Location: Burnaby, BC Oddometer: 2,382	You should factor in that you can ride all year round in Vancouver, so more accidents, and this is also vehicle theft central for North America. PLPD rates are by displacement, with jumps at 400cc, 750cc, and I think 1050cc. You fall into the second bracket, so that sounds about right with a full experience discount. Comprehensive is on a "declared value" basis, so you get what you pay for. Beware, ICBC will only pay out on street value, not declared value, so don't shoot yourself in the foot paying for coverage you can't use. For a used KLR you won't get more than $4k used, so you should really consider whether or not comp. coverage is even worth it. Hint: Ask the Autoplan broker how much you would have to drop down your declared value to hit the lower range of costs. Sometimes paying for $4999 is a heck of a lot cheaper than $5,000. Look at topping up the coverage with extra Loss of Use coverage. For a minimal fee you can actually get a decent replacement vehicle while you're waiting for ICBC to finish screwing you during an extended claims process.

12-07-2006, 11:44 PM	#4
tackle_me_2 always hungry Joined: Aug 2006 Location: Vancouver BC Oddometer: 28	The optional stuff with ICBC is more pricy. Like Shewbert said, try Magson. Their rates are better, and service is better. I think my comprehensive stuff is $440 for one full year from Magson (on my FZ6).

12-08-2006, 07:36 AM	#6
Fred Banned Joined: Feb 2003 Location: under my fallen bike Oddometer: 1,051	I agree with what's been said about full comp and the value of your bike. I've owned bikes while in BC since 1974 and have never had full comp on any of them. Only 1 has been stolen and that was an old DR350 that didn't run and was in the back of my pick up, which also was stolen. I had theft coverage on the truck but not on the bike. So, for over 30 years of bike ownership, add up the yearly cost of full comp compared to the value of a non-running DR350 and I'm still way ahead financially speaking. Of course, I allways park my bike where I can see it and when I have to go somewhere where it will be out of sight I take my 4 wheels. Locked garage etc.

12-16-2006, 09:55 AM	#10
rider-geek My Bike has Baggage :) Joined: Jan 2006 Location: Vancouver BC Oddometer: 43	Check out Beacon insurance, they're based in the Okanagan and specialise in insuring recreational vehicles(bikes, boats, etc). Full replacement value coverage on the comp side for my 04 Strom is $325 a year. They don't insure sportbikes but will insure pretty much anything else as long as you have a clean record. Find them here

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