Covid effect on future insurance | GTAMotorcycle.com

Covid effect on future insurance

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nobbie48

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Your premium doesn't sit on a shelf, there to pay claims. It is invested. When investments tank the insurers have to raise rates to make up the downturn.

How's that looking down the road?

A lot of businesses won't be around to write cheques in the new year. How will the reduced customer base factor in?

Will here be more accidental fires?

Regardless of the arguments I'm sure the insurers will have data to justify increases.
 
That pretty much sums up the short term future for most business and industries. Get ready for everything in life to cost more and supplies to dwindle.
 
are the insurance companies still offering refunds for less mileage?
 
It’s so frustrating when these big corporations rape and pillage the people who buy service from them
 
I got a whole 11 dollars back ?

US$ is slowly depreciating, the exchange rate holds more promise of making things a little less expensive up here then anything else.
 
nobbie48 said:
I got a $40 refund but the renewal took it back three times over. No tickets or claims.
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... and how can that be considering the way the motorcycle insurance rates in Ontario have been explained ? in theory that increase would be illegal.
 
nobbie48 said:
Your premium doesn't sit on a shelf, there to pay claims. It is invested. When investments tank the insurers have to raise rates to make up the downturn.

How's that looking down the road?

A lot of businesses won't be around to write cheques in the new year. How will the reduced customer base factor in?

Will here be more accidental fires?

Regardless of the arguments I'm sure the insurers will have data to justify increases.
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It's a scam, and they have become more greedy in these times of need. Gave back a minimal "jesture" (ya that is the correct word") for appearances only. Then to gain it back and more with an increase. How is this possible??? Agreed with everything you said, and yes there will be all kinds of excuses to justify why. I've had my insurance company reach out to me several times to "remind" me to update my policy if I start to use my car again, tell me to bundle, etc etc. Fact is I have barely used my car in the past 9 months. This is one area I think Ford should have scrutinized. If we were to look at the actual data, I bet it would paint a different story on traffic, accidents, usage etc going against the costs.

I've had an insurance envelope sitting on my desk for a couple of weeks. It's the one thing which gives me anxiety, because I know it just represents disappointment.

But what can we do, it seems like a no win situation, and typical Canadian way of being foked.
 
gsxr guy said:
Its an Ontario thing, just got ins. for my gsxr 750 $375/year. Lol glad I moved outta ont.
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Just curious...
Is that a Increase/decrease?
How old is bike?
What province are you in now?
 
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