Major Jevco Update from John Duffy Insurance

[adri]

Costs about $18 the first time you write your M1, but I think only $12 to renew every 3 months thereafter... theoretically you can hold your M1 for a year for only $54, and reap a savings of much more the following year. You shot yourself in the foot dude, sorry.

[VifferFun]

When you say have your M1 for a year u mean from the date you got it right? Cause obviously your M1 doesnt last for a year.

And this also sucks balls because I decided to let my M1 expire in August as I didnt have enough money to buy and insure a bike this year, things didn't go as I planned.

Yes, that is what I meant. If you got your M1 in April 2009, and then got your M2 later that season, then in April 2010 you will have one full year of experience.

[e5antos]

This totally sucks. I was going to get my M2 but I didn't because I didn't have enough to buy and insure a bike and I thought I might as well wait so I can use the course certificate discount for my insurance.

[VifferFun]

This totally sucks. I was going to get my M2 but I didn't because I didn't have enough to buy and insure a bike and I thought I might as well wait so I can use the course certificate discount for my insurance.

Yup, that sucks. When getting your car or bike license, sooner is always better than later.

[adri]

Yup, that sucks. When getting your car or bike license, sooner is always better than later.

Exception being from M2 --> M ?

My insurance quote was the same regardless of license so I didn't bother upgrading this season.

[Baggsy]

Exception being from M2 --> M ?

My insurance quote was the same regardless of license so I didn't bother upgrading this season.

Ah, but you can't drink and drive then.
Not that I do. But it's nice to know that if I have a beer at lunch and get pulled over after work I'm safe. Plus some companies are trying to cherry pick those with two years of full M.

[Pasofol]

Thanks for the post.
Will ask for some quotes and might be able to afford something better.

[adri]

Ah, but you can't drink and drive then.
Not that I do. But it's nice to know that if I have a beer at lunch and get pulled over after work I'm safe. Plus some companies are trying to cherry pick those with two years of full M.

Really??
Can anyone confirm.
If any insurance cos actually give a damn about me having an M vs. an M2 I'll go take my M the second the ministry gets off strike. At 21 I'll do anything for an insurance break.

[Freestyle72]

so being 23 next year and having a ZX6R...will that really even make a difference for me? Cuz facility just upped there rates to screw me over...

[VifferFun]

Really??
Can anyone confirm.
If any insurance cos actually give a damn about me having an M vs. an M2 I'll go take my M the second the ministry gets off strike. At 21 I'll do anything for an insurance break.

Most companies don't care about the M2 --> M, but some might. It is always in your best interest to upgrade you license as soon as possible, since you have nothing to lose.

[VifferFun]

so being 23 next year and having a ZX6R...will that really even make a difference for me? Cuz facility just upped there rates to screw me over...

If you are in Facility, then you probably don't qualify for a standard insurer. Do you have a convictions/claims history? If your record is clean and you qualify, you should be with State Farm on a 600 SS.

[Freestyle72]

If you are in Facility, then you probably don't qualify for a standard insurer. Do you have a convictions/claims history? If your record is clean and you qualify, you should be with State Farm on a 600 SS.

I am only with Facility cuz it was actually cheaper than SF and anywhere else by so much it's rediculous. With facility I can ride anything from 501cc to 750cc for the price I am paying for my 636.

SF quote = $29XX--but it was $1800 if I brought my car...which they wanted over 3X for TD wants for the car.
Facility= $2247... but it's going up next year for whatever gay reason.

So I dunno where that leaves me really. Might just ride track $3000 is a hell of a lot to spend on insurance.

[VifferFun]

I am only with Facility cuz it was actually cheaper than SF and anywhere else by so much it's rediculous. With facility I can ride anything from 501cc to 750cc for the price I am paying for my 636.

SF quote = $29XX--but it was $1800 if I brought my car...which they wanted over 3X for TD wants for the car.
Facility= $2247... but it's going up next year for whatever gay reason.

So I dunno where that leaves me really. Might just ride track $3000 is a hell of a lot to spend on insurance.

That seems like a lot, but is likely because you're still under 25yo. Once you are 25, you will be very cheap with State Farm. I guess the accept people with five years of experience, but then don't give then the cheap rates until 25yo. I would be interested to know what the average State Farm premium is on a 600cc SS for people aged 21 to 24.

[CruisnGrrl]

rbc won't insure anyone with out an m.

they have cheap rates but their claims process sucks, not just for auto.

[e5antos]

so does this only have an effect if you've had your M1 for a year? Or can it have some effect if you were to have it for a few months?

[VifferFun]

so does this only have an effect if you've had your M1 for a year? Or can it have some effect if you were to have it for a few months?

You must have your license for an entire 12 months before you will get the preferred rate with Jevco.

[Insurance Guy]

Kingsway Financial has received regulatory approval for this change. Therefore, effective October 1st, 2009 the Kingsway General Insurance Company name has been retired and Kingsway Financial will operate under the Jevco Insurance Company brand across Canada.

Existing Kingsway General policyholders will see their policy documents transferred to Jevco as of December 1st, 2009. All policies will be re-underwritten using Jevco's filed underwriting rules and rates. For any risk that does not qualify, or if there are changes to coverage, they will be notified 30 days in advance of the renewal notification.

Some advantages of Jevco over Kingsway General are a lower minimum deductibles on physical damage, reduced conviction surcharges, 1994 and older super sport bikes are not surcharged, and physical damage is offered on homebuilt and rebuilt bikes.

Jevco Insurance has essentially adapted the Kingsway General payment options. This is a big improvement for Jevco policyholders as prior their options were rather limited to say the least. Broker Bill is still available. Direct Bill is now also available as follows:

1) Full payment by insured cheque, broker cheque, credit card or automatic bank withdrawal.
2) Four payment plan - 25% down by cheque, credit card or automatic withdrawal followed by three remaining payments by automatic withdrawal.

Overall these changes seem to be very positive for policyholders. It will streamline the administration costs for Kingsway Financial and hopefully result in a solid, stable insurance market for motorcycles in Ontario for years to come.

[LiNK666]

Jevco Insurance has essentially adapted the Kingsway General payment options. This is a big improvement for Jevco policyholders as prior their options were rather limited to say the least. Broker Bill is still available. Direct Bill is now also available as follows:

1) Full payment by insured cheque, broker cheque, credit card or automatic bank withdrawal.
2) Four payment plan - 25% down by cheque, credit card or automatic withdrawal followed by three remaining payments by automatic withdrawal.

definitely sounds like a big improvement!

[adri]

More good news?!?!
Usually the insurance forum is doom and gloom, but this is good stuff!

[John_15]

That is great news!