Aviva Insurance Rate Updates

[Aleks Hara]

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Aviva just released the new discount guidelines effective March 1st for new business, and April 1st for renewals.

The rates can be competitive in certain markets, and they are definetly going after the complete package - home, auto & bike - with a focus on the more mature and experienced riders. The quotes take a bit longer to complete from our end because everything has to be inputted into their rating engine, but with these newly increased discounts, Aviva might be a competitive choice for some riders out there.

Factors – Discounts	Current​	April 1​
Bike and Home (Named Insured)	-10.0%​	-15.0%​
Bike and Car	-5.0%​	-10.0%​
Loyalty 3 to 4 years	-5.0%​	-15.0%​
Loyalty 5 to 6 years	-7.5%​	-17.5%​
Loyalty 7+ years	-10.0%​	-20.0%​
Multi-Bike	-10.0%​	-15.0%​
Advanced Rider Training	-5.0%​	-10.0%​
Valued Customer – Eligibility changed from	15 years​	9 years​

Factors – Surcharges	Current​	April 1​
Manufacturer 1 (Harley)	25.0%​	15.0%​
Manufacturer 2 (Victory Indian Ridely)	90.0%​	30.0%​
Manufacturer 3 (Limited production and Choppers)	60.0%​	30.0%​
Manufacturer 1 – Surcharge Eligibility	All Harley Davidson models​	Select Harley Davison models​

 

[elton_t]

do they insure sports bike age 21?

 

[VifferFun]

Interesting info. Do these discounts apply to just the bike, or to both products?

 

[Aleks Hara]

do they insure sports bike age 21?

I've played around with their quoting engine and it seems like they are definetly targeting more mature and experienced riders, and non-sport model bikes. For example, they have a lot more restrictions on younger riders - such as that if you have less than a certain #of years experience, you HAVE to have Rider Training Course AND a bike less than 600cc. At the end of the day, Aviva is looking for the complete package - they want to continue competitively insuring homes and autos, but also have a viable program for the clients' toys on the side - hence all the multi-line discounts you can get.

In your case, I would stick with Jevco/TD for under 600cc, and StateFarm for sport models, when insuring just the bike.

 

[Aleks Hara]

Interesting info. Do these discounts apply to just the bike, or to both products?

The above discounts are specific for motorcycles. To my understanding, there are corresponding discounts on the other lines, but at different percentages, and they'd be subject to a maximum capping based on the overall policy and any existing discounts client might already have. I wish they gave 20% discount on auto after 7yrs of loyalty!!

I do however like the multi-bike discount of 15%. That's smart. Jevco does 5% which is insignificant, and I've met many riders who own 2 or more bikes that they switch throughout the season. It's not fair to charge them full year premiums on both bikes if there's only one rider, so most often we end up subbing the bikes in and out - which is a hassle and leaves the uninsured bike completely unprotected.

 

[roadmasterst]

Multibike insurance is a total rip off as the companies do not accept signing a waiver promising not to lend second or third bike to another driver and the multibike owner cannot drive more than one at a time.
Many bike riders would love to have more than one, and insurance restricts this greatly. Maybe we need to lobby bike dealers and manufacturers to put some pressure on insurance companies regarding this issue as it would greatly increase sales and be a bonus for the economy. there would also be an upside for the government as more sales taxes and licencing fees would be involved. Pretty much a win win if only insurance companies would play ball.
We need to move on this riders!!!!!!!!!!!!!!!!!!

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