anyone?
I read the sticky and it doesn't give any more info than at fault accidents are classified as 'large' factors in premium determination? Any ideas on percentage increases?
|
I recently wrote off my motorcycle in a single vehicle incident where I went for a slide. Jevco is covering the write off and I will be getting a write-off value soon. Police officers attended, and I was not charged though I am still at fault.
How much is the typical amount (% increase?) that I can expect my premium to raise as a result of this? I expect it to go up, but just curious what to expect. This is my first at-fault claim ever. I have zero points on my record with one minor ticket from last year.
Insurance renewal is around August of this year. Any insight is appreciated.
Cheers!
Last edited by shanekingsley; 03-13-2012 at 11:12 AM.
www.shanekingsley.com - House (and jungle) Music All Night Long
The Big Map of Ontario's Best Roads.
anyone?
I read the sticky and it doesn't give any more info than at fault accidents are classified as 'large' factors in premium determination? Any ideas on percentage increases?
www.shanekingsley.com - House (and jungle) Music All Night Long
The Big Map of Ontario's Best Roads.
No damage to yourself Shane?
Barrie and area riders.
http://www.gtamotorcycle.com/vbforum...d.php?t=123778
Amsoil Oil? PM me
Most motorcycle problems are caused by the nut that connects the handlebars to the saddle.
Faster, faster, faster, until the thrill of speed overcomes the fear of death.
The percentage increase can depend on many factors. Your broker should be able to give you an idea -- ask them how much your premium would increase if you were to obtain a renewal today.
I'm an Actuarial Analyst for a Major Canadian Insurance Company. I analyse claims patterns to determine overall rate changes, as well as relative premium differences by various risk characteristics (eg. age, experience, claims, convictions, usage, etc.)
Unless it's private, please post insurance-related questions in the forum rather than sending me a PM.
Current: 2001 Suzuki GSXR1000 (4th Season)
Previous: 1996 Honda VFR750F (4 Seasons)
Previous: 1998 Kawasaki Ninja EX250 (3 Seasons)
Thanks - I'll get in touch with my broker.
Boooya - Hey bud, no damage to me - just enough plastics damage to write the bike off instead of fix it. So now I'm looking for a new bike - probably a 2011 VStrom650 if I can find one. I have the cash, but the dealerships don't have any bikes I'm interested in, so I'm just waiting....
www.shanekingsley.com - House (and jungle) Music All Night Long
The Big Map of Ontario's Best Roads.
Good man glad you didnt get hurt.
Barrie and area riders.
http://www.gtamotorcycle.com/vbforum...d.php?t=123778
Amsoil Oil? PM me
Most motorcycle problems are caused by the nut that connects the handlebars to the saddle.
Faster, faster, faster, until the thrill of speed overcomes the fear of death.
Typically it's 33% for cars...I dunno about bikes.
I'm an Actuarial Analyst for a Major Canadian Insurance Company. I analyse claims patterns to determine overall rate changes, as well as relative premium differences by various risk characteristics (eg. age, experience, claims, convictions, usage, etc.)
Unless it's private, please post insurance-related questions in the forum rather than sending me a PM.
Current: 2001 Suzuki GSXR1000 (4th Season)
Previous: 1996 Honda VFR750F (4 Seasons)
Previous: 1998 Kawasaki Ninja EX250 (3 Seasons)
Pure chance, perhaps? Rates by driving record as well as accident surcharges can vary quite a bit from company to company. Even within a company, an at-fault claim doesn't affect a 20yo with 3 years of experience the same as a 40yo with 6 years of experience. Also, an at-fault wouldn't affect a person with full coverage the same as someone with just liability and fire/theft. etc.
At-fault collisions are not as simple as minor convictions where you usually get the first for free, and then a 10% surcharge for each conviction after that.
Last edited by VifferFun; 03-18-2012 at 05:59 PM.
I'm an Actuarial Analyst for a Major Canadian Insurance Company. I analyse claims patterns to determine overall rate changes, as well as relative premium differences by various risk characteristics (eg. age, experience, claims, convictions, usage, etc.)
Unless it's private, please post insurance-related questions in the forum rather than sending me a PM.
Current: 2001 Suzuki GSXR1000 (4th Season)
Previous: 1996 Honda VFR750F (4 Seasons)
Previous: 1998 Kawasaki Ninja EX250 (3 Seasons)
Bookmarks