Holy Insurance difference Batman !!

[suzuki2000]

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Been shoppping for a bigger bike lately and I keep hitting the wall on insurance costs. I have a clean record, etc...

Always hear about how much cheaper insurance is in the US, so just for kicks I got an online quote what insuarance would be using an upstate NY zip code.

so my current bike (600cc), I pay $600-$700 annually for basic coverage (it's an older bike) .... Geico gives me $99.00 basic coverage

I quote a big dispcament SS, here I would pay $2000 - $3000,for basic coverage ... Geico quote under $1000, full coverage

I know if you dig into it, coverages are not completely apples to apples, but holy cow! what a huge difference in $

Can i get a US post box and plate and insure my bike over there?

 

[mimico_polak]

Can i get a US post box and plate and insure my bike over there?

Sure you can! Let me know how insurance fraud goes for you when you get stopped or something happens! LoL

On a serious note...that does suck major *****...I need to build up my insurance record on the bike so I can move up in cc's (if I get bored of the 250) before I can even consider buying a new bike. I pay around $700/year (31m/Toronto/clean record).

 

[LePhillou]

Been shoppping for a bigger bike lately and I keep hitting the wall on insurance costs. I have a clean record, etc...

Always hear about how much cheaper insurance is in the US, so just for kicks I got an online quote what insuarance would be using an upstate NY zip code.

so my current bike (600cc), I pay $600-$700 annually for basic coverage (it's an older bike) .... Geico gives me $99.00 basic coverage

I quote a big dispcament SS, here I would pay $2000 - $3000,for basic coverage ... Geico quote under $1000, full coverage

I know if you dig into it, coverages are not completely apples to apples, but holy cow! what a huge difference in $

Can i get a US post box and plate and insure my bike over there?

Yes. Until you get caught for insurance fraud. And then all the savings over all these years are offset by the fine and...well the uninsurableness

EDIT) Beat to the punch ^^^

 

[djbordie]

Been shoppping for a bigger bike lately and I keep hitting the wall on insurance costs. I have a clean record, etc...

Always hear about how much cheaper insurance is in the US, so just for kicks I got an online quote what insuarance would be using an upstate NY zip code.

so my current bike (600cc), I pay $600-$700 annually for basic coverage (it's an older bike) .... Geico gives me $99.00 basic coverage

I quote a big dispcament SS, here I would pay $2000 - $3000,for basic coverage ... Geico quote under $1000, full coverage

I know if you dig into it, coverages are not completely apples to apples, but holy cow! what a huge difference in $

Can i get a US post box and plate and insure my bike over there?

get a US PO box and try it...let us know the story.

a 600 SS at 25 years old and clean should cost you 1100-1500. Check statefarm.

but seriously: ill put it in to perspective

Insurance is a business, they are in it to make money

~200 million people in USA?
~30 million in Canada
bigger pool to draw from for insurance

The ontario gummimint makes the rules insurance companies are forced to follow.
insurance changes from state to state. Way more relaxed laws. Harder to make claims (not all insurers of course)

But imagine having your bike stolen in the wrong state, potentially how long it would take to get your money.
vs here, we settled in days had a cheque within 2 weeks for WELL above its worth.

or even worse, imagine getting in to an accident in a state with no no-fault insurance. You have to get the other drivers insurance company to pay out, thats a tough thing to do. where-as here, our insurance company helps you and they go after the other persons insurance company.

id like to say we have "better" insurance here, but we pay for it no doubt.

 

[Outlaws Justice]

I am in the US So I have insurance here, But since I live close to the border and travel my insurance comapny has issued me both US insurance cards and Canadian Cards. Not the same as living there and insuring here but keeps me out of trouble when I am on that side of the border.

 

[dieselxx]

Ya insurance is a bummer. Been shopping around for an upgrade from my 250 to monster 796.
I am 31 years old, g licence 15 years, m2 for a year next month, super squeaky clean record since I had my G.

I pay 60 a month full coverage for my ninja(not bad) but in states I think its half that.
I've been quoted on the ducati at $2000 a year. What a joke this province. Unless I wait till beginning of july when jevco will insure me for 1200 a year on the monster. Not bad but not good either.

I am a firm believer in my saying of "Its easy to chase our dreams but we just can't keep them" lol ie I can afford to buy a brand new ducati no problem. Just can't afford(or want to pay out of spite) to keep it.
This country is a joke for insurance, and unless we unite and protest all together as a country, nothing will get done and we will keep getting gouged, especially here in "great Ontario". Freedom my ***

Oh well guess I will be riding my ninja until I'm 65 years old lol

 

[suzuki2000]

get a US PO box and try it...let us know the story.

Sure, getting right on that... [read:sarcsam ]

 

[suzuki2000]

I am in the US So I have insurance here, But since I live close to the border and travel my insurance comapny has issued me both US insurance cards and Canadian Cards. Not the same as living there and insuring here but keeps me out of trouble when I am on that side of the border.

what are the implications of spending periods of time on our side? I believe the US the coverage levels ($'s) are lower, so are you carrying a rider policy?

 

[Outlaws Justice]

what are the implications of spending periods of time on our side? I believe the US the coverage levels ($'s) are lower, so are you carrying a rider policy?

I have about 20 machines insured (12 for road use alone) I have full coverage on all of them and I carry triple the liability limits required (It is only a few dollars extra to carry the higher limits.) I do the same on my cars and trucks, makes no sence not to up the limits. New York is also a no-fault state so if I am in an accident my medical is paid by my own insurance even if I am not at fault in the accident. My company then will go after the other company if I am not at fault.

What is the Liabilty limits required there for motorcycle insurance?

 

[ShaqX7]

I believe they are around 20k. So good luck with that if you live in a sue-happy state like California. The medical coverage is probably lower as well.

 

[suzuki2000]

I believe our minimum liabiltiy coverage is $1M here, with optional coverage to $2M.

correct me if I am wrong, but the US limit is $300K

 

[vrus]

we get healthcare and expensive insurance

USA is opposite.

Can't win everywhere!

 

[Scuba Steve]

min is 200k but cost is almost the same as 1m and a few dollars more for 2m

 

[chiller]

When I was living in the states I had minimum coverage as a student... this is approx 10 yrs ago ... I had a 750 for $12.00 / month of insurance... which was great !

I didn't need much more then minimum, I had medical coverage separately I was paying about 800 / yr on already. But the minimums are sooo low. If they didn't change, then liability was only 50k ... and I think property damage was only 100k ... so if you got into an accident with a ferrari and damaged it say then its over 100k in damages ? well they can sue you for it ... i figure as a student I'd just declare bankruptcy LOL "SURE TAKE MY STUDENT LOANS AWAY ... " !!

 

[suzuki2000]

we get healthcare and expensive insurance

USA is opposite.

Can't win everywhere!

If you think you have free health care, you will be disappointed when you need it.

 

[kiwi]

Been shoppping for a bigger bike lately and I keep hitting the wall on insurance costs. I have a clean record, etc...

Always hear about how much cheaper insurance is in the US, so just for kicks I got an online quote what insuarance would be using an upstate NY zip code.

so my current bike (600cc), I pay $600-$700 annually for basic coverage (it's an older bike) .... Geico gives me $99.00 basic coverage

I quote a big dispcament SS, here I would pay $2000 - $3000,for basic coverage ... Geico quote under $1000, full coverage

I know if you dig into it, coverages are not completely apples to apples, but holy cow! what a huge difference in $

Can i get a US post box and plate and insure my bike over there?

. Downunder our insurance is cheaper too. Ontario (Canada?) is one costly place to own/ride a motorcycle or car.
Oh, and we dont sue the **** out of people like north americans do.

 

[murf]

But imagine having your bike stolen in the wrong state, potentially how long it would take to get your money.
vs here, we settled in days had a cheque within 2 weeks for WELL above its worth.

or even worse, imagine getting in to an accident in a state with no no-fault insurance. You have to get the other drivers insurance company to pay out, thats a tough thing to do. where-as here, our insurance company helps you and they go after the other persons insurance company.

id like to say we have "better" insurance here, but we pay for it no doubt.

Ontario is a no fault province. I was insured for non-insured driver coverage in the usa for an extra $30 a year. No worries. But my yearly premium was over $600 full coverage, im sure it would be over $1000 now.

 

[Brian]

I believe our minimum liabiltiy coverage is $1M here, with optional coverage to $2M.
correct me if I am wrong, but the US limit is $300K

It varies depending on the state.

When I was living in the states I had minimum coverage as a student... this is approx 10 yrs ago ... I had a 750 for $12.00 / month of insurance... which was great !

I didn't need much more then minimum, I had medical coverage separately I was paying about 800 / yr on already. But the minimums are sooo low. If they didn't change, then liability was only 50k ... and I think property damage was only 100k ... so if you got into an accident with a ferrari and damaged it say then its over 100k in damages ? well they can sue you for it ... i figure as a student I'd just declare bankruptcy LOL "SURE TAKE MY STUDENT LOANS AWAY ... " !!

Yeah the limits are ridiculously low in California: 30k liability, and 5k (!!!) property damage.

I'm with State Farm now, and my K1200R is just under $600/year for $500k liability and uninsured motorist coverage (this is absolutely vital). However, the policy does not include medical insurance as I have separate medical insurance coverage through work.

 

[Outlaws Justice]

insurance changes from state to state. Way more relaxed laws. Harder to make claims (not all insurers of course)

But imagine having your bike stolen in the wrong state, potentially how long it would take to get your money.
vs here, we settled in days had a cheque within 2 weeks for WELL above its worth.

or even worse, imagine getting in to an accident in a state with no no-fault insurance. You have to get the other drivers insurance company to pay out, thats a tough thing to do. where-as here, our insurance company helps you and they go after the other persons insurance company.

id like to say we have "better" insurance here, but we pay for it no doubt.

No-Fault mean my insurance pays for my medical no mater who is at fault, then THEY go after the other insurance to re-coup the money, I dont have to do anything. And if you have full coverage insurance (Which I carry on all my vehicles) my insurance pays to repair or replace my vehicle no matter who was at fault and then again My insurance goes after the other driver or his insurance to re-coup the money.

It has no impact on my what state I am in, I can be on the opposite side of the country from where I live and my insurance still works the same, if my bike or vehicle is stolen they do not take weeks to make it right. The last time I hit a deer, the truck was in a shop the next day and the check was cut to me in two days.

I am currently insured with three different companies (Due to the large number of bikes and vehicles as some of the bikes get better rates from different companies) I have a policy with Progressive, Intigon and another with Farmers. I shop around for insurance just like I do for anyhting else. What am I getting for my money, coverage, responce when something happens, will they stand behind me if there is a problem.

 

[YellowDuck]

I actually recently stopped riding on the street because I couldn't justify the insurance costs. I was only getting out maybe 20 times per year, max, so insurance was costing me about $50 per ride!

If you look at your policy, you will see that most of the cost is in accident benefits. This makes some sense I guess - we have laws that require those benefits, so that you don't end up completely destitute as the result of a motorcycle accident. That's likely one of the bif differences between our policys and trhose in the US. When I lived in the US I had full coverage on my bike for $185 per year.

But still, insurance in Ontario is an out-and-out scam. Here's how I know: Cost to for me to insure one street bike - $1000. How much more do I get to pay if I want to own two? Another $1000. There is one licenced rider in my home (me). If someone would like to explain to me how *anyone* calculated that an insurance company's risk exactly doubles when one rider goes from owning one bike to two, I am all ears.

The truth is, the insurance industry doinks us anyway they are allowed to, and the provincial government doesn't care enough (since we are such a small voting block) to do anything about it. I have long said that I would vote for ANY provincial party that pledged to stand up for us on this - it has infuriated me for years.

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