Desjardins to buy State Farm | Page 2 | GTAMotorcycle.com

Desjardins to buy State Farm

VifferFun said:
I haven't had time to read into the details, but if they plan to keep SF as a separate entity, then they will probably retain the SF rating structure; however, I would still expect some rate changes since SF Canada has been bleeding red ink the last few years.
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I am keeping my fingers crossed on this.

I spent a lot of $$$ personalizing my 750 and if I can't get it insured, I might actually shed a tear lol

However, my renewal is at the end of 2014 so hopefully it'll be 2016 by the time this stuff is all finalized; gives me another two years to enjoy the ride =)
 
just got my notice in the mail...

"...transaction is not anticipated to be completed until January 2015, subject to receipt of required regulatory approvals and the satisfaction of customary closing conditions"

state farm agents get absorbed.
 
I'm with Desjardin at the moment and my 2011 Kawasaki 250R is $97.66/month with no bundled or professional group discounts. 23yr Male Brampton, no tickets or at-fault claims, m1 licensed since Jun 11', and m licensed since May 13'. They liked that I've had continuous motorcycle insurance coverage since Jul 11'.

When I asked for quotes last year on a Triumph Street Triple they were quoting +$3000/yr. Not sure if they cover SS though.
 
Just got off the phone with state farm after reading this thread! Here is some info...
- Yes they are being bought by DesJarden
- The official acquisition will be finalized next january
- They will continue to sell state farm products and insurance for 2 years after that

So pretty much, nothing changes for 3 years...then who knows!
 
Thanks for taking time and clearing this up.
Good recon.


JayG said:
Just got off the phone with state farm after reading this thread! Here is some info...
- Yes they are being bought by DesJarden
- The official acquisition will be finalized next january
- They will continue to sell state farm products and insurance for 2 years after that

So pretty much, nothing changes for 3 years...then who knows!
Click to expand...
 
Im with state farm right now. I'm 33 drive a crappy 2000 Honda prelude, common law status and they Charge me 2200 a year. I drive 25000km I year. I also live in Mississaga now which is the biggest factor in the price.
 
so we are running low on options..
State farm is now Desjardins - Desjardins is owned by TD
Primmum is joined with TD for motorcycle insurance.


TD is the dirtiest insurance company out there, i dont think they should be allowed to buy out all their competition, arent there laws against this?
 
JayG said:
Just got off the phone with state farm after reading this thread! Here is some info...
- Yes they are being bought by DesJarden
- The official acquisition will be finalized next january
- They will continue to sell state farm products and insurance for 2 years after that
So pretty much, nothing changes for 3 years...then who knows!
Click to expand...

Spoke with my State Farm broker and they were a little more specific.
Was advised that while the sale will be finalized in January 2015, the brokers have only been guaranteed a contract till September 2015. The brokers are hopeful/expect to have their contracts renewed at that time.
Further the current insurance policies as they stand (ie for super sport bikes) are in force till September 2015 but after that they have no information.

They suggested I wait till sept 2015 to see what happens.

They were not aware if Desjardins currently insures super sport motorcycles or if they have any interest in this market. I asked them about ultra high performance sport and exotic cars as well (since they cover the same market risk) and got the same response.

I went to the Desjardins web site to see if I could get an online quote for auto and motorcycle insurance but found no listings for supersport motorcycles. I looked further at the auto listings and noted that they only listed the major family car lines but no high performance sports cars (ie porsche,lotus,ferrari,lambo,maserati and so on).
Of course its possible for high performance vehicles they only give quotes over the phone but I don't know.
My question to those who have a policy with Desjardins is: does Desjardins insure high performance vehicles be they super sport motorcycles or high performance and exotic cars.....or do they only insure conventional family type cars, trucks and cruiser, trail and standard bikes?

This is where the State Farm Broker had no answers.
I intend to call Desjardins to see what cars and bikes they insure and if so, get a quote to see how they compare against the State Farm rates.

Currently State Farm and TD insurance still insure Super Sport Bikes.....are there other insurers out there in this market?
 
I'm sure all your existing policies will be grandfathered.. If they fire you as a customer in 2 years then you simply enroll with someone else, hopefully taking your home and auto policies with you as well.
 
in Ontario, insurance rates dictate driving/riding more than demerit points. it's messed!

on that note, and in relation to this thread: How can one insure themselves?? is it possible??

i will also make a thread about this. just curious. what if i just wanted to insure myself.

because this is just ridiculous the way things stand in Ontario right now.
 
Sunspark said:
I'm sure all your existing policies will be grandfathered.. If they fire you as a customer in 2 years then you simply enroll with someone else, hopefully taking your home and auto policies with you as well.
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That's not how it works. Take a look at when Intact bought Jevco. New rates based on Intact's models, take it or leave it.

Apollo95 said:
on that note, and in relation to this thread: How can one insure themselves?? is it possible??
Click to expand...
Start an insurance company.
 
EaZ8 said:
so we are running low on options..
State farm is now Desjardins - Desjardins is owned by TD
Primmum is joined with TD for motorcycle insurance.


TD is the dirtiest insurance company out there, i dont think they should be allowed to buy out all their competition, arent there laws against this?
Click to expand...
my bad, Deshardins is not owned by TD.

i just spoke with my old broker (that im good friends with) who set me up @ state farm on my bike and she said there isnt going to be any changes this year, and probably not next year.
cars are going down slightly across ontario.
 
cf1340 said:
Spoke with my State Farm broker and they were a little more specific.
Was advised that while the sale will be finalized in January 2015, the brokers have only been guaranteed a contract till September 2015. The brokers are hopeful/expect to have their contracts renewed at that time.
Further the current insurance policies as they stand (ie for super sport bikes) are in force till September 2015 but after that they have no information.

They suggested I wait till sept 2015 to see what happens.

They were not aware if Desjardins currently insures super sport motorcycles or if they have any interest in this market. I asked them about ultra high performance sport and exotic cars as well (since they cover the same market risk) and got the same response.

I went to the Desjardins web site to see if I could get an online quote for auto and motorcycle insurance but found no listings for supersport motorcycles. I looked further at the auto listings and noted that they only listed the major family car lines but no high performance sports cars (ie porsche,lotus,ferrari,lambo,maserati and so on).
Of course its possible for high performance vehicles they only give quotes over the phone but I don't know.
My question to those who have a policy with Desjardins is: does Desjardins insure high performance vehicles be they super sport motorcycles or high performance and exotic cars.....or do they only insure conventional family type cars, trucks and cruiser, trail and standard bikes?

This is where the State Farm Broker had no answers.
I intend to call Desjardins to see what cars and bikes they insure and if so, get a quote to see how they compare against the State Farm rates.

Currently State Farm and TD insurance still insure Super Sport Bikes.....are there other insurers out there in this market?
Click to expand...

I spoke with Desjardins and can confirm that TD does not have any ownership of Desjardins (as was noted in the last post).
Also Desjardins does NOT insure any super sport motorcycles.
As for exotic sports cars they may insure on a case by base basis but this would take a day to get a confirmation (as to if they would insure the car)....so maybe is the answer here.

So this means if your with State Farm.....should start looking for alternatives well before 19 months (September 2015) is up for your super sport bike.


Why doesn't anyone with a supersport list their insurance co, make of bike and insurance rate (&liab or full coverage) to see what our options are.

I'll start: BMW S1000rr , State Farm, $1680.00 (full coverage)
 
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cf1340 said:
Why doesn't anyone with a supersport list their insurance co, make of bike and insurance rate (&liab or full coverage) to see what our options are.

I'll start: BMW S1000rr , State Farm, $1680.00 (full coverage)
Click to expand...

Good Idea.

CBR 1000rr, Statefarm, $1300 (full coverage, some discount for bundle with 2 cars and house)
 
Anybody have any clues or educated guesses on how this will roll out when it comes to dirt bikes? Especially dirt bikes for kids?

My 13 year old son has a TTR125 that he got last year; I've been a long-term Desjardins customer and have two vehicles and my XR650L insured with them but they would not touch the TTR125. They simply don't do dirt bike insurance, especially for when the rider is a minor. After a lot of hunting around (and getting a couple of quotes that were stupid-high) we insured under State Farm with a reasonable premium (about $180 per year for 3rd party liability coverage only).

Sounds like we'll be OK for 2014 but I'm worried that we'll get hung out to dry when 2015 rolls around.

We don't have private land so not having the TTR insured isn't an option.

If I can't get insurance "Plan A" will be to move all my business over to their competitor...but that all hinges on finding a competing insurance company that won't charge me a stratospheric premium for the TTR.

Cheers,
Daryl
 
So I just called RBC...no hope there..

3 years min of M license and insurance for them to even consider you
then they will assess the type of bike/ experience/ etc.

the kicker was the Agent acknowledged that RBC is typically higher than most. lol

then I asked about staff discount and she said, little to none..sigh
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