Allstate's bike policy requiments | GTAMotorcycle.com

Allstate's bike policy requiments

LiNK666

Well-known member
I was at the Allstate office today and spoke to Grant Redfurn about their bike policy. Apparently bikes are new to them they didn't do bikes before 2012 or something like that; especially sport bikes. So the rules might change over time if it becomes profitable for them.

You need to be 25 to have a cruiser or something along those lines with them.

30+ to have a sport or super sport.

You can't have bike alone. I assume because it won't be a money maker as it's priced very low to be competitive. You have to bring a car or car/house. They might push the limits a bit or make exceptions so lets say if you're 28 but if you're bringing multiple cars/house they might give you bike too.

I got my policy when I was 29, but brought over a house + car along with a CBR600RR.

Good luck to everyone. I saved a ton of money by having everything at one insurance company.

My policy is for Richmond hill. We got accident forgiveness on there and disappearing depreciation which means if anything happens in 3 years I get full price for my vehicle.
 
need house and car for SS
this was the problem this season
lots of ppl that don't own and rent could not get insured
and you dont get full price on ur bike or car if it gets stolen
i know some one that had a BMW HP4 stolen bike was about a year old MSRP of $33,000 only got $26,000 in return
 
need house and car for SS
this was the problem this season
lots of ppl that don't own and rent could not get insured
and you dont get full price on ur bike or car if it gets stolen
i know some one that had a BMW HP4 stolen bike was about a year old MSRP of $33,000 only got $26,000 in return

I think for BMW it might depend on how old it was. I got the depreciation thing on a new car but not on old ones. Dunno about bike. I signed up with bike and car. Try asking about car only.
 
I'm 29 and I didn't need to bring anything over and I got decent rates. Now I'm questioning what the broker told me.
 
I'm 29 and I didn't need to bring anything over and I got decent rates. Now I'm questioning what the broker told me.


Exceptions can be made depending on their risk assessment of you. Just requires more paperwork (dependent on the willingness of your agent to make it happen, and the brokerage office they work for (dependent on their quotas for business for the year)).
 
Exceptions can be made depending on their risk assessment of you. Just requires more paperwork (dependent on the willingness of your agent to make it happen, and the brokerage office they work for (dependent on their quotas for business for the year)).

+1



Also, what is the legality on tied selling? AFAIK and have personally experienced - I have been explicitly told by multiple AllState agents (not Grant) that they would not bother insuring me unless I brought over another vehicle or house. FWIW, I had my previous SS bike insured under a stand alone policy with Grant at AllState with no problems, he did save me $2-$300 over StateFarm.


Section 459.1 of the Bank Act prohibits banks from practicing coercive tied selling. More specifically, it is against the law for a bank to “impose undue pressure on, or coerce, a person to obtain a product or service from a particular person, including the bank and any of its affiliates, as a condition for obtaining another product or service from the bank.”
 
Last edited:
+1

Also, what is the legality on tied selling? AFAIK and have personally experienced - I have been explicitly told by multiple AllState agents (not Grant) that they would not bother insuring me unless I brought over another vehicle or house. FWIW, I had my previous SS bike insured under a stand alone policy with Grant at AllState with no problems, he did save me $2-$300 over StateFarm.

I called FSCO earlier this year and spoke 2 different compliance officers about it. I have some posts in this forum about what was said but i don't remember what exactly was said..but its not illegal. They are allowed to have this restriction on the policy as they are "Recreational vehicles" a categorization i don't agree with.

Edit: I found my post

In another thread i called FSCO and asked about it. The compliance office told me that it is not something they regulate and they can refuse a stand alone policy and require you to bring a house or Condo.
Personally i consider this to be anti-competition. But what else is new in Ontario
 
Last edited:
Could you link the other thread where you discussed your findings?

I was under the impression that all products offered are regulated under the same conditions, speaking in terms of insurance-selling.
I called FSCO earlier this year and spoke 2 different compliance officers about it. I have some posts in this forum about what was said but i don't remember what exactly was said..but its not illegal. They are allowed to have this restriction on the policy as they are "Recreational vehicles" a categorization i don't agree with.
 
That section refers to "banking products" in other words they can't say we won't give you a mortgage if you don't have your Credit card and line of credit with us. Although a bank may be offering the insurance product, it is a different "entity" of the bank and the FSCO has separate regulations that apply to insurance products.

+1



Also, what is the legality on tied selling? AFAIK and have personally experienced - I have been explicitly told by multiple AllState agents (not Grant) that they would not bother insuring me unless I brought over another vehicle or house. FWIW, I had my previous SS bike insured under a stand alone policy with Grant at AllState with no problems, he did save me $2-$300 over StateFarm.
 
Exceptions can be made depending on their risk assessment of you. Just requires more paperwork (dependent on the willingness of your agent to make it happen, and the brokerage office they work for (dependent on their quotas for business for the year)).
Called back with a bike for them to insure after they gave me quotes. Changed their mind and said I'd have to be 30 or bring something else over to be with them. Luckily I ended up cheaper with td anyway. but whats the point of negotiating then changing their mind when you're actually ready to bring them something. Lousy lousy policies.
 
Called back with a bike for them to insure after they gave me quotes. Changed their mind and said I'd have to be 30 or bring something else over to be with them. Luckily I ended up cheaper with td anyway. but whats the point of negotiating then changing their mind when you're actually ready to bring them something. Lousy lousy policies.

Not just the policies, but I find a lot has to do with the training within the individual offices/branches.

Theoretically, you should be able to call any agent and they'll give you the same answer. Reality is a different thing.

Glad you got it settled. Hope you never have to use it.
 

Back
Top Bottom