Insurance for multiple bikes | GTAMotorcycle.com

Insurance for multiple bikes

Fuzzbuster

Fuzzbuster

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Anyone have experience with owning multiple bikes and insurance? I am currently the only person in my household that has a moto license, and can only ride one bike at a time! So, if I own more than one how does it work? Do I pay full pop on both? Is there a package deal or an option that I can flip flop between the 2?
 
I've had up to 3 bikes insured at one time and the only thing I was able to gain was a multi-bike discount. I was also the only licensed rider in the household. It was fun times paying more insurance than the bikes were worth!

One way to flip flop between the two would be to reduce one bike down to liability only, or even better is reducing it to something similar to fire/theft only (as if it was in storage). Not sure if all insurance companies will allow this, but I know that riders have done this to keep the costs down. I think @MacDoc has done this before.
 
Bend over. Short answer is normally full pop on every bike minus 5-10% multi-vehicle discount. Slightly longer answer is some people (like @Mad Mike ) have been able to get insurance on some bikes while others are parked and switch it over occasionally. They won't like you doing it every weekend but if you had a summer bike and fall/winter/spring bike that's a great option.
 
Fuzzbuster said:
Anyone have experience with owning multiple bikes and insurance? I am currently the only person in my household that has a moto license, and can only ride one bike at a time! So, if I own more than one how does it work? Do I pay full pop on both? Is there a package deal or an option that I can flip flop between the 2?
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I have 6 bikes, a couple cars, and a pick up or two.
 
shanekingsley said:
I've had up to 3 bikes insured at one time and the only thing I was able to gain was a multi-bike discount. I was also the only licensed rider in the household. It was fun times paying more insurance than the bikes were worth!

One way to flip flop between the two would be to reduce one bike down to liability only, or even better is reducing it to something similar to fire/theft only (as if it was in storage). Not sure if all insurance companies will allow this, but I know that riders have done this to keep the costs down. I think @MacDoc has done this before.
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What Shane said.

Many companies won’t allow you to carry just fire/theft. Some such as MM have had luck with switching but others get denied.

Be prepared to get hooped.


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_ _ _ _! So with the fire/theft scenario, can i still ride it legally on the road. Or is that for storage purposes only? I dont care about replacement costs.
 
Yeah, no discount. They got you by the balls. no/cheap insurance options are track only bikes and green plates.
 
GreyGhost said:
When's the busa coming?
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Imagine being 3 minutes late?
That's when I got there, 3 minutes late. Customer before me put a deposit down 3 minutes before I showed up & finally took it, over a week later. (he had trouble getting ins)
 
GreyGhost said:
As much as we crap on the insurance companies, much of the blame lies with government. If there was significant effort invested in investigation and enforcement of fraudulent insurance claims, that would probably be good for a 30% reduction tomorrow.
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I hear ya! The gov sucks! I just think there should be an option available where if you dont care about replacement costs and you have multiple bikes you get one rate to cover all the bikes. Even if its a bit more as a blanket coverage. They know you can only ride one at a time so risk is the same
 
Fuzzbuster said:
I hear ya! The gov sucks! I just think there should be an option available where if you dont care about replacement costs and you have multiple bikes you get one rate to cover all the bikes. Even if its a bit more as a blanket coverage. They know you can only ride one at a time so risk is the same
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Back to enforcement, the theory is you insure three bikes and two are ridden by your friends. It would seem to be simple enough to allow insurance that only covers you riding the bike. Any other rider would be uninsured.
 
GreyGhost said:
Back to enforcement, the theory is you insure three bikes and two are ridden by your friends. It would seem to be simple enough to allow insurance that only covers you riding the bike. Any other rider would be uninsured.
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With my current policy, am i not the only one covered currently? Or, am I allowed to loan the bike to other people with a proper license?
 
Fuzzbuster said:
With my current policy, am i not the only one covered currently? Or, am I allowed to loan the bike to other people with a proper license?
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Option B. Whoever you let ride the bike is covered. Your insurance takes the hit if there is a claim though. That's the problem. I wouldn't mind loaning some bikes to others but I don't want to/can't afford to loan my insurance to others.

There is a form you can use to explicitly exclude a driver (OPFC 28a) for instance to exclude your kid from an expensive vehicle with high rates. Afaik, there is no way to only allow listed people.
 
GreyGhost said:
Option B. Whoever you let ride the bike is covered. Your insurance takes the hit if there is a claim though. That's the problem. I wouldn't mind loaning some bikes to others but I don't want to/can't afford to loan my insurance to others.

There is a form you can use to explicitly exclude a driver (OPFC 28a) for instance to exclude your kid from an expensive vehicle with high rates. Afaik, there is no way to only allow listed people.
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I didnt know that! So what if my bike is stolen while i am away and the person has a license. Does my insurance potential cover them?
 
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