Again i've never read this in the small print, but i don't completely doubt it...as far as i know you can hand the keys to any rider with a valid license.
Update: My son phoned around and managed to find something a little more reasonable -- $2800 (Dejardins). Same rider on a Honda 125 would be $1000 less -- about the cost of a used Honda 125.
That said, we live in the north. Hwy 11 is the essential lifeline to anywhere and the speed limit is 110kph. Not sure a 125 would cut it. Maybe downhill with a tailwind, but one would be flogging the heck out of it on the uphill grades. I rather he has enough power to keep up with the other traffic for safety.
Actually I had that specific discussion with the insurance company rep last fall (when they refused to add him to the policy because he didn't live with me). They were quite clear that they were fine with him borrowing it and it would still be fully covered -- however, if he had an accident it would count against MY insurance record because he did not have a separate policy of his own.
That said, I have certainly heard of such exclusions. I think one of my past automobile policies had that restriction. It seems to me I had to change carriers once my (then) teenage kids started driving.
I have heard that graduated HP ratings is pretty common in European jurisdictions and that one can buy restrictors to limit HP on some bikes to keep it legal. I didn't realize there was also a displacement restriction. Probably works well for urban areas and alternate routes with lower speed limits. We don't have power or displacement limits but new riders are limited to secondary highways with lower speed limits -- in Southern Ontario where there are alternative routes available. A bit different north of, say, Gravenhurst, where it might be hundreds of kms to the next road. New riders are exempted from the speed restrictions on such roads because there is no alternative.
Don't confuse rebates from a government entity with economic reality. Insurance needs to be revenue neutral. Some years ICBC loses more than $1B. Being a public entity does bring a better spotlight to finances though. Both systems have the problem of no incentive to fight fraud as fraud increases expenses and they are allowed to pass expenses plus overhead to the policy holders. The more fraud, the more overhead collected that they can blow.
The whole point of the rebate is that they do break even. Unlike the Dougie Bucks, it is essentially a refund when revenue exceeds forecasts.
Also, that paper is a) from the Fraser Institute, and b) from 2018.
But yes, the big problem in all cases is there is minimal incentive to root out the parasites attached to the business when you can just charge more. A while back my father went to replace a windshield (in Ontario). When the autoglass place found out he was paying, not insurance, the price dropped by half. Look at the hilarious amounts paid to autobody shops for the most basic dings and the endless insurance fraud associated with medical expenses.
Update: My son phoned around and managed to find something a little more reasonable -- $2800 (Dejardins). Same rider on a Honda 125 would be $1000 less -- about the cost of a used Honda 125.
That said, we live in the north. Hwy 11 is the essential lifeline to anywhere and the speed limit is 110kph. Not sure a 125 would cut it. Maybe downhill with a tailwind, but one would be flogging the heck out of it on the uphill grades. I rather he has enough power to keep up with the other traffic for safety.
A 125 will be the same as a 250. I live in the North during the summer, my DL 650 costs me under $600 (200 cheaper than Toronto rates) and my DT250 costs me under $300.
Desjardins is likely the best, but if you're in the North, call a nearby Brokerlink office, they will likely beat Desjardins.
Actually I had that specific discussion with the insurance company rep last fall (when they refused to add him to the policy because he didn't live with me). They were quite clear that they were fine with him borrowing it and it would still be fully covered -- however, if he had an accident it would count against MY insurance record because he did not have a separate policy of his own.
That said, I have certainly heard of such exclusions. I think one of my past automobile policies had that restriction. It seems to me I had to change carriers once my (then) teenage kids started driving.
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