IF MC insurance was $400/yr, would you own more than one bike? | Page 2 | GTAMotorcycle.com

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

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I always keep two bikes on the road. There’s no need to have more than 2 plated in my case as I already feel bad enough leaving one sitting for any length of time.

Currently paying $474 per bike per yr with Intact.

Both are old, both are under 400cc.

Both are reliable, easy to maintain and take me anywhere I want to ride.

Never thought to just swap them back and forth on one policy.

(I was paying $400 per bike about 15 yrs ago).

Happy first day of Spring !!! Ride safe.


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What company? And how often do you do that? Do you flip insurance more then twice a month? If so how's the payment structure? You get a new slip Everytime? I need more details.

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Mad Mike said:
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.
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I never thought of this...can you actually do that with the insurance company? I would think they give a hard time for that, depending how often you do it.

One obstacle I can think of is the difference in premiums between the bikes. My kawasaki is about 700, the Honda about 1200, both of those including a 10% discount for having two bikes on the policy. How would they calculate that?



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Michael0124 said:
I never thought of this...can you actually do that with the insurance company? I would think they give a hard time for that, depending how often you do it.

One obstacle I can think of is the difference in premiums between the bikes. My kawasaki is about 700, the Honda about 1200, both of those including a 10% discount for having two bikes on the policy. How would they calculate that?



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See post 76 of “Tell Ontario You Want Better Motorcycle Insurance”. Mike spells it all out in that thread.


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At that price I'd have three. My versys, a 690 ktm and a 300 xcw. The wife would also add a small dualsport.

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I would definitely buy a second bike if I could insure a couple for less then $1000. Not going to hold my breath.
 
If it was $400 per bike I’d have a fleet of them. I’ve been paying around $2800 for two bikes the past couple years.
 
Absolutely. Did 3 bikes for awhile. Nice to have options and bikes that are built for a specific purpose. For now its a plated 450 exc (well under $400/year) for dirt/connecting trails and a drz400sm for street ($650/year). Id like to add another more street worthy bike for longer distances even though I don't do those rides often, but if the price was right Id be interested. My rates are pretty good already so adding a 3rd was doable but to pay around another ~$1000/yr for a bike I'd be riding the least doesn't work for me.
 
Mad Mike said:
I have a garage, as long as it's stored in there my home policy covers theft and fire *SNIP*
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Unless you have that specifically written into your policy, you're wrong.
Anything with a VIN is ***NOT*** covered under your house policy.
I've gotten in touch with several different insurers, at different offices, and they all say the same. House insurance will not cover any vehicle with a VIN. They need their own policies.
 
I had two bikes on for a while ....I'd insure one for the year and the other for 6 months which was cost effective.
you get a discount on both bikes and 50% on the second bike and if you put all your insurance ....home etc the costs comes down.

I think a big plus on two bikes or more is lose the 13% on sales of used bikes.

I entirely agree that one driver many bikes should have different rates. A problem that arises is when there is more than one licenced driver in the household
 
Probably. It depends on how good Id be at convincing my wife.
 
I should try swapping bikes on the policy. Older one with heated grips at the beginning and end of the season, and the summer one.
 
My guy Chris South has no issue doing it.

Christopher South, R.I.B. (Ont), CIP
Insurance Broker, SurNet Insurance Group Inc.

csouth@surnet.net P: 416-546-8969

He's saved me a lot of money.
 
I think I pay less than 400$.
Car, bike and sled for less a grand.
 
Mad Mike said:
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.
Click to expand...
I own four at the moment. I have been switching insurance to whatever bike i want to ride for 20 years. It would be less paperwork for ins. company if i didnt have to.
 
Currently pay about $770 I think for two bikes. 2 mill liability.. but no theft fire ... Going to try for three this year or swap out the commuter. Helps being older good record and same policy since 1992.
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