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Renewal Suprize

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he DL650 would be $632 with comprehensive and $540 for liability only. The Honda CBF1000 would be $807 for the year with comprehensive and $690 for liability only. Both bikes were quoted together with a multi-bike discount.

Christopher South, R.I.B. (Ont), CIP
Insurance Broker, SurNet Insurance Group Inc.
csouth@surnet.net
P: 416-546-8969
F: 866-491-4002
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and $380 for July to Feb for the CBF1000 - I will likely do Liability only on the DL650 for the year and the CBF for half year if I keep it
 
My renewal isn't until August but I called my State Farm agent's office today just to see what was up. I'm already paying $162 per month on a '07 600RR. That's up from $104 /mo 4-5 years ago but I digress...

I asked whether it's true that sport bike premiums are going up and what kind of premium increase I can expect to see come renewal time.
The person on the phone sounded nervous and gave me a scripted response that went something like 'I have not seen many motorcycle renewals so far but we have seen very low rates for older drivers with good records'. I received the same spiel 3 or 4 more times when I pressed him to clarify what that means--even after he put me on hold to "speak to his manager". Ultimately he ended up admitting that sport bike rates are increasing but said I'd have to wait until two months before my renewal to find out how much.
Finally, I asked him to give me a new quote based on my current information so I could get a ballpark idea. He said he would call me back with the quote or e-mail it to me. That was this morning and I haven't heard back yet.
 
AF4iK said:
My renewal isn't until August but I called my State Farm agent's office today just to see what was up. I'm already paying $162 per month on a '07 600RR. That's up from $104 /mo 4-5 years ago but I digress...

I asked whether it's true that sport bike premiums are going up and what kind of premium increase I can expect to see come renewal time.
The person on the phone sounded nervous and gave me a scripted response that went something like 'I have not seen many motorcycle renewals so far but we have seen very low rates for older drivers with good records'. I received the same spiel 3 or 4 more times when I pressed him to clarify what that means--even after he put me on hold to "speak to his manager". Ultimately he ended up admitting that sport bike rates are increasing but said I'd have to wait until two months before my renewal to find out how much.
Finally, I asked him to give me a new quote based on my current information so I could get a ballpark idea. He said he would call me back with the quote or e-mail it to me. That was this morning and I haven't heard back yet.
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Aug is too far out, rep will not know and will not say something that may or may not be true later on. Call 2 months before renewal and they should know.
 
samurai said:
Aug is too far out, rep will not know and will not say something that may or may not be true later on. Call 2 months before renewal and they should know.
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Ask for a quote as your looking at getting another bike identical to what you already have. A couple hours later they'll provide the $$ you could be paying at renewal.
 
TD MM mine went down. $536 for the year. 2011 Gadius. 2 tickets. Only have wifes car (for $190 a month, she just got her G) and my bike there now, moved property to Aviva for a reason not related to money.
 
samurai said:
Aug is too far out, rep will not know and will not say something that may or may not be true later on. Call 2 months before renewal and they should know.
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I get that but I'm certain they know whether sport bike rates have increased and probably by how much. Shouldn't be hard to estimate the impact to me based on present conditions. The reason I want this information now is because I'd like to plan what I'm going to do about it. The closer I get to renewal the more money I lose on the value of the bike if it is indeed true that rates are increasing substantially. It was like pulling teeth but I finally got the rep to verify that it is increasing.

2Speedy said:
Ask for a quote as your looking at getting another bike identical to what you already have. A couple hours later they'll provide the $$ you could be paying at renewal.
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That's what I did but he hasn't gotten back to me.
 
my insurance is more than what i paid for my bike at renewal lmao after a little disputing she brought it down quite a bit but not enough for my liking. will also be looking around. if everyone could continue to post their good finds that would be appreciated
 
~TheCult said:
my insurance is more than what i paid for my bike at renewal lmao after a little disputing she brought it down quite a bit but not enough for my liking. will also be looking around. if everyone could continue to post their good finds that would be appreciated
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I wasn't aware the insurance industry is now negotiating prices. That sounds ridiculous.
 
Krime said:
I wasn't aware the insurance industry is now negotiating prices. That sounds ridiculous.
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In the days of yore I think they could talk to an underwriter in special circumstances but I thought that was pretty much done
 
I would "suspect" that the agent wasn't in fact "negotiating" a lower premium but rather either the poster didn't understand or the agent didn't make it clear they were likely "playing with options" IE higher deductibles, lower liability limts, so overall lower coverage and "bringing the price down" in that manner. Unless the agent suddenly found eligible discounts that hadn't previously been used. IE when I recently got a quote from Allstate initially the quote was approx $1400 per year as the agent wasn't seeing my previous insurance history. I had to get my company that my bike had previously been insured with to send a "letter of experience" showing I indeed had more than the 2 years insurance with my current company. Once they had the letter of experience I then qualified for Allstate's "elite rider" program and the quote dropped to just under $1100. For full coverages with $2 million liability but that wasn't the "agent or insurer negotiating" a lower premium
 
I have asked to have underwriting look at my policies and requote before they were able to come back at 1000 from 1700 after going through my personal file and deciding that they wanted to keep me as a customer. This was approximately 4 years ago so it is possible. You probably have to be bringing a significant amount of business for them to send it to underwriting though.

Sent from a device using a program
 
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31 yo, riding for 6 years, M, zero tickets or claims, 09 R6 was paying $1300/ year with State Farm.

When I got my renewal from State Farm in December it Went up to $2888/year! I was expecting a hike but not that much! Called around and the best quote I got was from TD MM. changed it over. Now paying $1500/year.

I think this might be my last year with an SS. Haha
 
If you bring house and car with them, Allstate is best rate so far.

Even after my 25% hike with TD MM, it's still the 2nd best,

3rd best is intact (riders plus & john r duffy gave me the exact same number)

I still have to check RBC (doubt it'll be any good even though i'm an employee)
and belair
and waiting to hear from Carlos @ cornerstone

otherwise i got a few 3k+ quotes for a freaking cb500x
 
Aviva reduced mine from what I was paying with State farm by 1500 for my jeep and my FZ09. I am paying about 80's monthly for the fz09. Same coverage
LePhillou said:
If you bring house and car with them, Allstate is best rate so far.

Even after my 25% hike with TD MM, it's still the 2nd best,

3rd best is intact (riders plus & john r duffy gave me the exact same number)

I still have to check RBC (doubt it'll be any good even though i'm an employee)
and belair
and waiting to hear from Carlos @ cornerstone

otherwise i got a few 3k+ quotes for a freaking cb500x
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sorry for the confusing, perhaps dispute was the wrong word to use. The agent fixed my rate by changing up my coverage options and applying discounts such as alumni/student discounts.
 
Hey long time reader first time poster. Just wondering if with all these insurance spikes if it even makes sense for me to try to start riding this year. Ive had a m1 before but it expired. had my full g for about 5 years now and I'm 26. i just want a cbr125 or something light to start. my record is clean do you guys think ill get gouged?

thanks a lot in advance
 
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i'm with TD, went DOWN 500 bucks 2005 gsxr 750, from 1800 to 1250 or so, no tickets no accidents, 35 male got my M last year so that might be it.
 
I'm with TD. Went up $500, or 37% for no reason other than the only ticket on my driver's abstract expiring/coming off... 45/m. KTM RC8r.
 
My wife and I are with TD MM and just received my renewal. It looks like anything considered sport bike will see a significant increase this year, but non sport bikes get a break :

2015 / 2016

$366 / $330 - 02 Vespa (150cc ET4)
$660 / $550 - 08 Ducati 695
$750 / $980 - 08 CBR600RR

No tickets or claims, 40+, and the above pricing includes a multi bike discount.

I wanted to replace the CBR with an FZ-09 and they quoted me $1400/year. Yikes. Apparently it's consider a "hyper-sport", whatever that means.

The Personal has all my other insurance business but was unable to insure my CBR. Their rates for the Duc and Vespa were very competitive and are probably worth examining if you don't own a sport bike.
 
sys49152 said:
My wife and I are with TD MM and just received my renewal. It looks like anything considered sport bike will see a significant increase this year, but non sport bikes get a break :

2015 / 2016

$366 / $330 - 02 Vespa (150cc ET4)
$660 / $550 - 08 Ducati 695
$750 / $980 - 08 CBR600RR

No tickets or claims, 40+, and the above pricing includes a multi bike discount.

I wanted to replace the CBR with an FZ-09 and they quoted me $1400/year. Yikes. Apparently it's consider a "hyper-sport", whatever that means.

The Personal has all my other insurance business but was unable to insure my CBR. Their rates for the Duc and Vespa were very competitive and are probably worth examining if you don't own a sport bike.
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The Personal should insure the FZ-09 dirt cheap. I have my FZ1 with them and will probably switch to the -09 this season.
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