Jevco Increases Rates for May 1, 2010.

[Avi Singh]

Effective May 1, 2010:

Jevco has increased their rates in certain categories. The sport model surcharge is now 400% for all ages.

Jevco has also created a new age category. Previously everyone over 30 years old was rated similarly. Now there is a 30-39 age category and a 40+ category.

Jevco is now also offering collision coverage, previously the only option was All Perils (If collision coverage was desired).

If you are considering a new policy after May 1, 2010 you should speak to your broker for more details.

[VifferFun]

Effective May 1, 2010:

Jevco has increased their rates in certain categories. The sport model surcharge is now 400% for all ages.

Holy cow! I thought 325% was already extreme enough to keep people from insuring SS's with Jevco :S

Jevco has also created a new age category. Previously everyone over 30 years old was rated similarly. Now there is a 30-39 age category and a 40+ category.

That's interesting. Are the rates less for the 30-39 bracket or the 40+ bracket? There comes a point when increasing age starts increasing your risk (but usually most people have retired from biking by that point).

Jevco is now also offering collision coverage, previously the only option was All Perils (If collision coverage was desired).

That opens up options, but I doubt many people buy Collision and forgo Comprehensive.

If you are considering a new policy after May 1, 2010 you should speak to your broker for more details.

Thanks for posting the details

[FiReSTaRT]

Yikes.. As a person mostly affected by the age category split, how bad will it be for the 30-39 range? Any insight?

[RetroGrouch]

My insurance will be dirt cheap from now on! Old slow guy on an old slow bike.

[Insurance Guy]

Yikes.. As a person mostly affected by the age category split, how bad will it be for the 30-39 range? Any insight?

I ran a quick comparison on a Honda Shadow 750. The old rate for over age 30 with at least a year of license experience was $573 for $1M liability for a year. The new rate for the 30-39 year old age group is $579. The age 40 rate would be actually a decrease to $562. Nothing earth shattering here.

Another quick comparison I ran was a 23 year old newly licensed on a 250 Ninja. The old rate was $1344 and the new rate is $1898. More of a significant bump here.

A 25 year old with a year of riding experience or more on an SV650 was $1016. The new rate is $1065. Not much change here.

The increase in the super sport bike surcharge isn't really much of a factor as they had already priced themselves out of the market in this area. Basically they don't want super sport bikes.

For anyone that has a Jevco quote pending with a broker I would recommend that you contact your broker and he/she will be able to discuss how the changes may affect your quote.

[FiReSTaRT]

Yeah, that won't affect me much then. A few bucks here and there, still 1/2 price of a SF policy, especially now after the increase.

[nameless?]

What kind of increase are we looking at for riders 21-25 with 1 year or more exp?

[MotoStark]

Effective May 1, 2010:

Jevco has increased their rates in certain categories. The sport model surcharge is now 400% for all ages.

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Guess I'll be holding off on that liter bike I've been eyeing.


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[Insurance Guy]

Guess I'll be holding off on that liter bike I've been eyeing.


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You wouldn't have wanted to have been with Jevco for a litre bike even before this rate change. State Farm will be the best for a litre bike if you qualify. If not, the Facility market will be available. Facility has not changed their rates since last Fall.

[Insurance Guy]

What kind of increase are we looking at for riders 21-25 with 1 year or more exp?

It's not really possible in this forum to provide specific quotes. Your Jevco broker will be able to advise you on the impact to your rate.

[f1mauro]

I'm locked in for this year thanks to the heads up from Avi. Next year I guess I get crucified

[vince492]

So i'm still lucky, I'm paying the exact same thing for my 650r this year...even if I have now my M2, third year riding, no claim, 22y old...1950$...Statefarm quoted me cheaper (1500$) than jevco I'll probably change.

[VifferFun]

Another quick comparison I ran was a 23 year old newly licensed on a 250 Ninja. The old rate was $1344 and the new rate is $1898. More of a significant bump here.

Whoa . . . that's a pretty big deal (41% increase)! Do you know where the majority of this rate increase was taken? Was it mainly an increase to inexperienced operators (DR=0), or is there a combination of other rating variable changes in your sample profile contributing to the increase (such as Class/Age)? Can you try the same comparison, except use a newly-licensed 35yo on a Ninja 250 so that we can isolate this increase as an experience or age adjustment?

Thanks for your informative post

[SBL]

just paid my insurance today for next year May 7
$341, down from $342 last year.
55 year old on a 21 year old 250
I bought a small coffee on the way home

[Pasofol]

Damn does this mean I need to find a bike by saturday and insure it?

Probably ninja 250 some 600 sport bikes were looking nice but a little out of my price range.
I'll call broker/s tomorrow and see what I can expect between now and may 1st.

27yrs male south etobicoke was getting around 600 quotes for 250, hope that doesnt change much and don't see why it would but who knows.

[Avi Singh]

Whoa . . . that's a pretty big deal (41% increase)! Do you know where the majority of this rate increase was taken? Was it mainly an increase to inexperienced operators (DR=0), or is there a combination of other rating variable changes in your sample profile contributing to the increase (such as Class/Age)? Can you try the same comparison, except use a newly-licensed 35yo on a Ninja 250 so that we can isolate this increase as an experience or age adjustment?

Thanks for your informative post

They have mainly taken rate increases for young inexperienced operators. The rate increases become more exaggerated in this scenario. In other instances for the 40+ operators with experience there are decreases to be had as well.

[Avi Singh]

Guess I'll be holding off on that liter bike I've been eyeing.


.

The only way to know for sure is for it to be re quoted. It really depends on what type of litre bike you're speaking of, it would not be prudentl of me to assume that it would be a sport bike. The FZ1 and SV1000 are both standard bikes and both are litres.

[VifferFun]

They have mainly taken rate increases for young inexperienced operators. The rate increases become more exaggerated in this scenario. In other instances for the 40+ operators with experience there are decreases to be had as well.

I would be interested to see the size of a rate increase for an old and inexperienced rider to see how that compares.

[RLapin]

Darn, my estimate for June went up by 400 =(
Guess I'll be getting just liability + theft now...

[KJM]

What is Jevco's SS cut of year currently? 95?

Thanks