How do we end this insanity | GTAMotorcycle.com

How do we end this insanity

Trials

Well-known member
Hi all, I joined this site just now to gain some perspective on how we might address the outrageous insurance rates motorcycles are subjected to in this provence.

I just did a quick calculation to determine that my road bike insurance premiums work out to in excess of 2 dollars per kilometre ridden

... who is responsible and what can we do about it ?
 
Hi all, I joined this site just now to gain some perspective on how we might address the outrageous insurance rates motorcycles are subjected to in this provence.

I just did a quick calculation to determine that my road bike insurance premiums work out to in excess of 2 dollars per kilometre ridden

... who is responsible and what can we do about it ?

Ride more kilometers to bring your dollar per kilometer rate down.

Sorry, couldn't resist.
 
No apologies needed, that had occurred to me :| but they ask you how many K you traveled each year so I suspect it will just be another reason to increase the premiums.
 
I just did a quick calculation to determine that my road bike insurance premiums work out to in excess of 2 dollars per kilometre ridden

You sure of that math? I'm at ~13 cents per kilometre ($660/5000kms) and almost never go for long rides.
 
I found something that suggests our insurance rates are provincially regulated by Financial Services Commission of Ontario (FSCO) contactcentre@fsco.gov.on.ca

... has anyone ever written those folks to complain either individually or as a group and if so, what was their response?
 
You sure of that math? I'm at ~13 cents per kilometre ($660/5000kms) and almost never go for long rides.

I have 2 street bikes, 2 competition Trials bikes, 2 sea-doos, multiple trucks, tractors, cars an excavator and spend most of my ride time on the Trials bikes in closed course competition events or on my own private property. Bottom line is I rarely ride street because I usually have nobody to ride street with and no need to ride the street bikes for commuting. I'm retired and I live in the woods.


;) checked my nuts just now and they are good to go
 
Nice. I'll prolly never retire, but living in the woods seems like a distinct possibility - under a tarp.

God bless your healthy nuts, sir.
 
Hey Trials.Do we know each other? SOVT?
 
Very likely, or excellent chance we have ridden together if you compete ;) the Trials community is very small. I rode CVMG trials for many years and now ride CMA trials regularly. I host the events near Arden (Eastern Ontario)

David S.
 
I found something that suggests our insurance rates are provincially regulated by Financial Services Commission of Ontario (FSCO) contactcentre@fsco.gov.on.ca

... has anyone ever written those folks to complain either individually or as a group and if so, what was their response?

The insurance company says "jump". The regulatory body says "how high".

Keep in mind that this is a multi-faceted problem. It's not as simple as insurance companies ripping you off.

There are prescribed benefits that they have to pay out. "Accident benefits" is the big one.
There is a lot of fraud going on - and many types of it, too.
There has not been much incentive to resolve that fraud. Each case is small enough that it's cheaper for the insurance company to settle than to find out what is really going on, so then the fraudsters can carry on and do it again, knowing that the next case will also be the same situation and they don't get caught.
You have to keep in mind that if the insurance companies aren't able to make money by offering insurance ... they won't offer coverage at all. That's why when the insurance company says "jump", FSCO says "how high".
 
So how come they seem to make it work in other provinces and in the USA for so much less money?
... and we even live in a place that enjoys socialized health care so all of the riders and practically all of the people that might place a claim against our insurance carrier already have the essential medical coverage that might be required in the event of an unfortunate accident!

My cheapest vehicle to insure is my F-350 dually diesel pickup towing a 34 foot travel trailer, imagine the destruction that could make in comparison to my 400 pound single passenger motorcycle.
 
My cheapest vehicle to insure is my F-350 dually diesel pickup towing a 34 foot travel trailer, imagine the destruction that could make in comparison to my 400 pound single passenger motorcycle.

Thats probably beause big pickups rarely end up wadded up. I would hazard a guess that on average insurance companies are paying a claim every 3 years for each SS bike. Sure some people ride them for years with no problems, but many end up in a ball within a month of purchase.
 
So how come they seem to make it work in other provinces and in the USA for so much less money?

Because in those places you get what you pay for: nothing. People in the US who pay $20/yr (or whatever) for a Hayabua are most likely f*cked if they wreck because they carry some ludicrously low amount of liability, have no medical coverage and so on. Look at your statement; you'll probably find that SABs (statutory accident benefits) are the lion's share of the premium you pay. Look at is this way: in the US surgery and an extended hospital stay and rehab for, say, a broken leg can lead to bankruptcy. Not so much here.

My cheapest vehicle to insure is my F-350 dually diesel pickup towing a 34 foot travel trailer, imagine the destruction that could make in comparison to my 400 pound single passenger motorcycle.

In this case it's not about the vehicle; motorcycles are pretty cheap and that's reflected in your premium statement. The replacement cost of my $20,000 Tuono is chump change compared to the cost associated with potentially years of care and rehab and medical **** I'd need should I wreck hard. You'd have to try pretty hard to get hurt in an F-350...
 
...
There is a lot of fraud going on - and many types of it, too. ...

Kinda like in 1986 when I was rear ended while riding my 5 month old K100RS, my insurance company did nothing because i had no collision coverage (which wasn't even an option at the time) I had to deal with the other guys insurance company, bike was in the shop for 6 months (no replacement vehicle) turns out they sold my old frame complete with my VIN to the BMW dealership that performed the service and several years later upon attempting to renew my plate the DMV informed me my motorcycle had been sold twice that year :/ dealer took it upon himself to build a motorcycle around my VIN and sold it to somebody. Additional weeks without my motorcycle until I could sort out that fiasco and now my motorcycle has a RBT (rebuilt) VIN plus a history that adversely affects it's value. (still have that bike, the insurance rates have gone up continuously since to the tune of several hundred percent)

My settlement was limited to only the cost of the repairs and money that I could prove I was out of pocket for as a result of the accident which was 100% the other guys fault. Zero actual benefit to me seeing as I was operating my own business at that time.
 
Rehab :lmao: that is where they subjected my shoulder to microwave radiation and had me push down on a frayed piece of rope looped over a 2$ pully and an 5 pound weight attached to it.
 
...
I just did a quick calculation to determine that my road bike insurance premiums work out to in excess of 2 dollars per kilometre ridden

?
 
Hi all, I joined this site just now to gain some perspective on how we might address the outrageous insurance rates motorcycles are subjected to in this provence.

I just did a quick calculation to determine that my road bike insurance premiums work out to in excess of 2 dollars per kilometre ridden

... who is responsible and what can we do about it ?

How about $20,000.00 per mile? My buddy was doing renovations and needed his garage for cabinet assembly. He rode his bike across the street to store it at a neighbours place in the spring and back in the fall because he was too busy to ride.

Re What do we do about the insurance?

We find intelligent honest politicians and after they fix all the hydro screw ups they then reform the insurance industry. All in four years. The politicians will of course be exempt from car insurance because they will be riding unicorns.
 
Crime pays. Until the legal system is reformed to actually serve, you know, justice - as opposed to lawyers - this will keep happening.
 
Ya, I suppose we should all just be very happy that if some thief steals your motorcycle :agave: They can enjoy the full benefit of YOUR vehicles insurance coverage.
 
I am in the midst of dealing with two different insurers, as a result of a couple of crashes. The MAIN goal of the adjuster is to get ANYONE else to pay first, you have to go through your company benefits, if you have them first, then once that is exhausted if you have private benefit package that pays then and only then the insurer pays.

My one insurer has spent over 33% of rehab payouts just to "prove" that I am fine, and as such need no rehab. I too am self employed, so good luck on getting any IRB, (Income Replacement Benefits), while your off work, (currently they are about $18,000 in arrears). When you sue, IF you get a settlement they insurer then has a "secondary deductible" of $47,000!!!! They say if you win a $100,000 settlement after you pay the deductible, lawyers, and any "specialists" the injured party is VERY lucky to walk away with $10,000.

The insurers goal is to get you "off their books" within 24 months, meaning NO more treatment, etc, regardless of what long term injuries you suffer from.

My clients often ask how I am doing... my standard response is well it depends on who you ask..

If you ask my lawyer... I am on deaths door.
If you ask me.... I am coping and struggling daily.
If you ask my adjuster.... I am 100% NEVER been in this good of shape... ALL thanks to the excellent therapy THEY have provided... LMAO
 

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