The Super Duke as well. I am with CAA. Wawanesa also dropped my 911 Turbo S because "it makes too much power." Which makes no sense, since they'll insure a Tesla Plaid, and the speed limit applies to all vehicles; the 911 has some of the most ferocious brakes you'll ever experience.
When I bought my 2015 Hyperstrada I was also looking at Hypermotards and the 'Strada was cheaper to insure even though it was just a Hypermotard with luggage. But because it didn't share the name and was sold in smaller numbers with fewer people buying and making claims on them, the policy cost was lower.
I was looking at Riders Plus, running numbers for a bunch of bikes. They`ll cover me for a `26 Hayabusa or `26 HD Low Rider ST for about 1600 bucks/yr. There`s about a 10 grand price difference between the 2 bikes. That was for stand alone policies, I never looked at bundling my car and house with the bike quotes, isn`t tied selling illegal anyway? Ever get the feeling you`ve been cheated?, ha!, goodnight.....( Johnny Rotten)
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.
I understand actuaries determine rates. My point is that those models are only as good as the data they're built on. Canada is a small and niche dataset for motorcycles, so small trends can have a disproportionate impact on pricing.
I understand actuaries determine rates. My point is that those models are only as good as the data they're built on. Canada is a small and niche dataset for motorcycles, so small trends can have a disproportionate impact on pricing.
I understand actuaries determine rates. My point is that those models are only as good as the data they're built on. Canada is a small and niche dataset for motorcycles, so small trends can have a disproportionate impact on pricing.
Actuaries use mostly stats from car drivers, they don’t look at motorcycles or motorcyclists specifically in Canada, the market is too small.
The two main factors are the type of motorcycle, and the rider. standard stuff on drivers - age, abstract, experience.
Motorcycles are grouped loosely into categories, with the odd exception, typically by bike type then displacement. Generally ADV and cruisers are the cheapest, then standards & sport tourers, then sport bikes. Some underwriters keep a black list of bikes they won’t insure, or only insure for experienced riders with clean driving and claim records.
Riders are first classified by age, then experience and record - age and record data comes from data they have on cars - not motorcycles. That’s why a 28 year old with a clean riding record will pay 2x what his dad pays with a freshly minted M2. This is odd, because dad is much more likely to have a claim.
There’s a bit more than that, but it’s basically how they do it.
I understand actuaries determine rates. My point is that those models are only as good as the data they're built on. Canada is a small and niche dataset for motorcycles, so small trends can have a disproportionate impact on pricing.
Absolutely. That's why I usually ride something you don't see every day. That way not too many people are affecting my rate, and even if they make a claim, it's still a drop in the bucket compared to popular models.
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