motorcycle rental business-is getting insurance going to be a major pita?



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Thread: motorcycle rental business-is getting insurance going to be a major pita?

  1. #1
    boyoboy's Avatar
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    motorcycle rental business-is getting insurance going to be a major pita?

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    I've been casually thinking about a (street) motorcycle rental business. Is the insurance going to be problematic? or expensive to the point of making the business not viable? Would enjoy some thoughts/input from the insurance experts. SS/RR bikes would not be on the list of rentals.
    Last edited by boyoboy; 05-06-2018 at 08:48 AM.
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    Re: motorcycle rental business-is getting insurance going to be a major pita?

    Quote Originally Posted by boyoboy View Post
    I've been casually thinking about a (street) motorcycle rental business. Is the insurance going to be problematic? or expensive to the point of making the business not viable? Would enjoy some thoughts/input from the insurance experts. SS/RR bikes would not be on the list of rentals.
    I recall somewhere here tried to do the same, but couldn't get any insurance coverage for a motocycle rental business.

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    Re: motorcycle rental business-is getting insurance going to be a major pita?

    Might be worth giving that Harley dealership in Whitby a call as they do rentals I believe. Ask how and maybe some logistics to thw manager?

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    Rick CH's Avatar
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    Re: motorcycle rental business-is getting insurance going to be a major pita?

    I'd guess Mackie Harley Davidson's insurance is unique because they're part of a large corporate group that's mostly involved in truck transportation. Their ability to negotiate with insurers to cover their motorcycle rental business would be unmatched.

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    Re: motorcycle rental business-is getting insurance going to be a major pita?

    There is a site that rents older bikes in Oakville that doesnt have anything except basic insurance and suggests you get your own "rental insurance"

    There is also GTA exotics that rents sportbikes for ungoldy sums, lol with full insurance if you leave a 1500 -3000 security deposit

    That should tell you everything you need to know

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    Last edited by busabim; 05-06-2018 at 12:44 PM.

  6. #6
    JavaFan's Avatar
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    Re: motorcycle rental business-is getting insurance going to be a major pita?

    yup.....financial HP behind them
    and a rental bike add-on to the fleet policy would be minuscule for them

    but I still figure HD dealers lose $ on the rentals, it's a loss-leader

    Quote Originally Posted by Rick CH View Post
    I'd guess Mackie Harley Davidson's insurance is unique because they're part of a large corporate group that's mostly involved in truck transportation. Their ability to negotiate with insurers to cover their motorcycle rental business would be unmatched.

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    Re: motorcycle rental business-is getting insurance going to be a major pita?

    Quote Originally Posted by JavaFan View Post
    but I still figure HD dealers lose $ on the rentals, it's a loss-leader
    Yep, it's probably way more about making someone fall in love with a HD and then come back and buying one...vs making any money on the rental alone.

    Hate to be pessimistic, but insurance is going to cost 8 arms and 9 legs (assuming you can even find someone to underwrite it) so unless you've got the bikes rented out 99% of the time it'd likely be hard to make any money. Add in the inevitable damages from rookie riders (dropped bikes, burned out clutches, etc) and you could actually end up upside-down in short order.
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    Re: motorcycle rental business-is getting insurance going to be a major pita?

    Somehow they manage it in Europe. I've got a BMW F800R lined up for this Thursday in Rome

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    Re: motorcycle rental business-is getting insurance going to be a major pita?

    Europeans aren't as litigious as us North Americans.
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    Re: motorcycle rental business-is getting insurance going to be a major pita?

    Quote Originally Posted by Brian P View Post
    Somehow they manage it in Europe. I've got a BMW F800R lined up for this Thursday in Rome
    nice. wish you the best of weather.
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  11. #11
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    Re: motorcycle rental business-is getting insurance going to be a major pita?

    yeah, insurance is a pita. seen some bikes for rent -cbr300, ninja 650, and some other bikes I can't recall. was 149/day for the cbr300 and 199 ? for the 650 ninja. took a look at their website quite a while ago, may have been gta exotics ? not sure.
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    Re: motorcycle rental business-is getting insurance going to be a major pita?

    Quote Originally Posted by busabim View Post
    There is a site that rents older bikes in Oakville that doesnt have anything except basic insurance and suggests you get your own "rental insurance"

    There is also GTA exotics that rents sportbikes for ungoldy sums, lol with full insurance if you leave a 1500 -3000 security deposit

    That should tell you everything you need to know

    BB
    do you know the name of the business in oakville that rents older bikes?
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    Re: motorcycle rental business-is getting insurance going to be a major pita?

    Quote Originally Posted by boyoboy View Post
    do you know the name of the business in oakville that rents older bikes?
    Google “Motorcycle Rental Oakville”

    You find it:

    Motorcyclerentaltoronto.com


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    Re: motorcycle rental business-is getting insurance going to be a major pita?

    If you were the insurer what would you charge for putting a million dollars at risk when the person requesting insurance says the rider may not be familiar with the bike, may have a questionable abstract, may live in Brampton, may carry a passenger and the applicant has no idea of the rider's personality. BTW the rider is out for kicks, the main reason most people ride.

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