Insuring two people on 1 bike

[robertojiang]

Forum Sponsor

I got a quote from an insurance broker on a 600cc ss bike for both myself and my brother (myself as primary and brother as secondary) and it turned out to be 2100 for liability only. However, after purchasing the bike and trying to process the paperwork, we were given a new premium of 3800 for the both of us because my brother is under 25 and the insurance company rates via the highest risk rider.

I'm not blaming the broker or anything, but I was wondering if there is any other affordable insurance companies that will insure the both of us at a lower premium. My brother is 20 so waiting another 5-years before he can hop on the sport bike after being bitten by the bike-bug is pretty much impossible.

If worse comes to worse, we will take the hit; however, any recommendations are welcomed.

 

[VifferFun]

There is little chance that you will find an affordable rate on a SS bike with your 20yo brother on the policy. ALL insurance companies will force your brother to be the principal operator because he is the most risky. I suggest that you exclude your brother on the policy using an OPCF28a endorsement (meaning that he can NEVER ride your bike under any circumstance) and then make your brother purchase and insure a non-SS bike of his own (or perhaps insure the Ninja 250 that is in your signature).

http://www.fsco.gov.on.ca/en/auto/autobulletins/2005/Documents/a-03_05-1.pdf

 

[rideitlikeyoustoleit]

How about just insuring yourself on the bike and let your brother borrow it SOMETIMES?

 

[Razorsythe]

cant as they ask if there are any other operators in the house hold that are able to ride the bike. in this case his brother. the only way around it would be if they lived at different addresses.

How about just insuring yourself on the bike and let your brother borrow it SOMETIMES?

 

[Sushii]

There is little chance that you will find an affordable rate on a SS bike with your 20yo brother on the policy. ALL insurance companies will force your brother to be the principal operator because he is the most risky. I suggest that you exclude your brother on the policy using an OPCF28a endorsement (meaning that he can NEVER ride your bike under any circumstance) and then make your brother purchase and insure a non-SS bike of his own (or perhaps insure the Ninja 250 that is in your signature).

http://www.fsco.gov.on.ca/en/auto/autobulletins/2005/Documents/a-03_05-1.pdf

Sadly, he sold the Ninja 250.

How about just insuring yourself on the bike and let your brother borrow it SOMETIMES?

Sure if they lived at difference address but assuming they live at the same address, if anything were to happen to HIM or his brother, the insurance company MAY deny the claims. Reasoning being that you havn't disclosed all drivers in the household which should've been asked before confirming the quote.

cant as they ask if there are any other operators in the house hold that are able to ride the bike. in this case his brother. the only way around it would be if they lived at different addresses.

Correct.

 

[omnivore]

I am considering this as well.
My 19 tr old son has a 95 YZF600. Primmum quoted him $13, 859/ yr. That's right- nearly 14 grand!!

SO I spoke with them , and they asked if I would like to add my son's bike to my current policy, and then add my son a another rider to my policy. I told them to quote that for me, and they came back with a quote of $892/yr. Much better. However, if my son were to get into a collision( at fault) or need to make a claim, my rates could potentially rise.

 

[robertojiang]

I quoted with Meloche and got a fairly decent rate so I guess I'll have to go with them until my brother hits 25 or has 5 years of g1 license, then we'll both move to Statesfarm. But unlike yours, mine was triple what your rates were, but that is understandable as my bike is an 08.


Sent from my iPhone using Tapatalk

Forum Sponsor