2026 Rates
- Thread starter matthew
- Start date
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Just got my renewal from TD.
No change in rate from last year. $1095.05 /yr
I may call them to process the entire policy as 1 payments instead of installments as this would save me $14.05 annually.
Not even going to bother calling around as switching companies may detect the minor convision I "did not" get.
No change in rate from last year. $1095.05 /yr
I may call them to process the entire policy as 1 payments instead of installments as this would save me $14.05 annually.
Not even going to bother calling around as switching companies may detect the minor convision I "did not" get.
Were they okay with the 1100 rsv4 or the 1000? Just curious because they wouldn't do my 1100.
Update I was able to secure insurance with Economical through NFP for significantly cheaper than what I was originally paying.
Shaman
Well-known member
The 999cc version (2016). Yeah, the 1100 engine is too "big," never mind that the 999cc version makes 201hp according to the factory.
PacoT
Well-known member
Something similar happened to me when I was looking at getting a different bike.
I was paying about $2.1k/year for a 135 hp Monster with TD. I requested quotes for a SuperSport 950 (110 hp) from different agents and companies, and the average came out to around $3.4k/year.
I also quoted a few older 1200 Multistradas (2012–2014) and the premiums were in the $4k/year range. For bikes that sell between 6k to 9k. What???
Meanwhile, the best quote I got for a brand-new Multi V4 was $1.9k/year, for a bike that is three times the cost and 40 more hp than the Monster.
BANANAS!
(These numbers might look a bit high, but I’ve had my full M for less than five years and live near downtown.)
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If I would have known the 1100 would make that much of a difference to insurance companies I would have opted for another bike but it is ridiculous how they rate bikes.
Jay Alexander
Well-known member
The cost of the bike is pennies to insurance companies. The real risk are the big payouts, like accident benefits. Also liability, but really can 500 pounds cause that much destruction to third-party's property?
Now the variance between specific models - no clue, and bikes are clearly a niche market for Ontario. Sometimes they look at number of CCs, and that is a big factor. My 2005 Kawi Nomad 1600 (slow pig) was $1300ish/year (and worth like $2-3k), while my 2013 Ninja 1000 was worth double and put out double the HP and cost $872/year.
Cost of bike has nothing to do with it, BUT the metrics that influence pricing is kinda out to lunch.
Relax
Well-known member
Look up actuarial science, and you'll realize there's both a rhyme and a reason for the rates they come up with. Just because it makes no sense to most people doesn't mean it doesn't make sense.
Those metrics seem to differ wildly between companies.
On my 796 I was getting quotes from 1300.00 to 5000.00 for all the same coverage.
There is no real actuarial data in Canada for motorcycles rates are just set on CC's and random things that someone's decided not risk like cars.
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Relax
Well-known member
That should be part of the actuarial calculations factoring in each company's risk tolerance, at least from what I've been told and noticed myself. Claims history seems to be a major factor, making squid-popular bikes more expensive and rarer bikes less. That's why I don't like riding what other people do, and why my SXV 550 is cheaper to insure than a CBR125R. Also why the Tuono V4 was impossibly affordable to insure at one point (and may still be, but that could change after enough people start crashing them).
The Tuono is one of the hardest bikes to insure now. Most will not touch it.
