IF MC insurance was $400/yr, would you own more than one bike? | GTAMotorcycle.com

IF MC insurance was $400/yr, would you own more than one bike?

Mad Mike

Well-known member
Insurance in Ontario is high, we all know that. I'm curious to see how many riders would have a second bike if insurance was $400 or less/bike?
 

Evoex

The God
Site Supporter
yep
 

Riceburner

Well-known member
Mine is already under $400, and have only one on the road. But it's for just that model. At this time I don't really need more than one. Have had times before where I had multiple and they were used most of the year. Commuter bike, sport weekend bike, touring bike, etc.
 

Mad Mike

Well-known member
Mine is already under $400, and have only one on the road. But it's for just that model. At this time I don't really need more than one. Have had times before where I had multiple and they were used most of the year. Commuter bike, sport weekend bike, touring bike, etc.
wow - under $400? What do you ride and who insures you? I pay more than that for my 125CC enduro!
 

roadrash

Well-known member
For what I'm paying now, if my rate dropped to $400, I could own 5 street capable bikes. In reality, I would at least do 2, maybe 3 different segments - SS, naked, cruiser
 

Sebi

Don't call me Shirley
Site Supporter
I think the real solution is to have insurance tied to the driver. Say I live alone and have 5 bikes. If I insure 1 bike vs 5, my premium should be identical provided there's a clause I can sign that prohibits others riding the bikes. I can only be on one bike at a time, it just doesn't make sense the way it's currently set up
 

Mad Mike

Well-known member
I'm just under 1900 for two right now. If bikes were under 400 each I'm sure I would add more, different styles of bikes. I think most riders would.

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Does anyone run 2 or more bikes, swapping insurance out as needed? I started doing that last year, I call my ins co every time I want to switch insured bikes, 10 minutes and done. It's a hassle, but it saves me money.
 

PrivatePilot

Ironus Butticus
Site Supporter
I’m paying not much over $400/year for mine.

That said, I’ve no real desire for a second bike at this point unless it was a dream bike scenario. I quite like my VTX.
 

Veej

Well-known member
Does anyone run 2 or more bikes, swapping insurance out as needed? I started doing that last year, I call my ins co every time I want to switch insured bikes, 10 minutes and done. It's a hassle, but it saves me money.
I was thinking of doing this....perhaps when the weather gets much better I put the newer one on the road and put the older one as my bad weather beater. Right now I'm paying around $1900 for both.
 

Sebi

Don't call me Shirley
Site Supporter
I call my ins co every time I want to switch insured bikes, 10 minutes and done. It's a hassle, but it saves me money.
What company? Do you put the other one under fire/theft coverage only so it's still "active"?
I'm curious if it looks bad on your insurance record canceling policies frequently. Unless it's not really being cancelled...
 

Evoex

The God
Site Supporter
What company? Do you put the other one under fire/theft coverage only so it's still "active"?
I'm curious if it looks bad on your insurance record canceling policies frequently. Unless it's not really being cancelled...
Shoukd only look bad if they cancel you.
 

Mad Mike

Well-known member
I have a garage, as long as it's stored in there my home policy covers theft and fire (not too worried, haven't had a bike stolen from my garage ever -- 40+ years. Your situation and ins. co. may be different, check with them to be sure.

As for cancelling, I don't -- I keep the same policy and switch the bike. They have never complained.
 

Sebi

Don't call me Shirley
Site Supporter
As for cancelling, I don't -- I keep the same policy and switch the bike. They have never complained.
Ah ok, this seems to make a lot more sense. What company is that with? I just asked my agent, we will see what they say
 
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Mango Rider

Well-known member
For what I'm paying now, if my rate dropped to $400, I could own 5 street capable bikes. In reality, I would at least do 2, maybe 3 different segments - SS, naked, cruiser
Hah, same situation. Would love to pay less than $1k a year as is for a bike... Let Alone 2 bikes for under than would be fantastic.

Sent from my LG-H873 using Tapatalk
 

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