Jevco Payment Plan Update | GTAMotorcycle.com

Jevco Payment Plan Update

Aleks Hara

Well-known member
Jevco has changed their 4-pay plan to a 6-pay plan.

Effective January 1, 2012 for New Business.

Effective March 1, 2012 for Renewals of existing clients.

Usually it ends up working out to 1st on credit card, and then the other 5 come out from the bank account in consecutive months.
 

VifferFun

Well-known member
Site Supporter
That's good news for Jevco policyholders :)
 
C

Charles Darwin

Guest
Don't they charge for the multi-pay option? I'm a Jevco customer, and IIRC, it was cheaper to just pay it out all at once.
 

Insurance Guy

Well-known member
Site Supporter
they charge interest for every payment you make if you are on the payment plan.
They charge the industry standard 3% on the total premium:

Premium + 3% divided by 6 = The amount of each of the 6 payments payable over the first six months of the policy term.
 

iFly55

Well-known member
This is really good news! 3% is a small price to pay to have the flexibility of paying out over 6 months
 

VifferFun

Well-known member
Site Supporter
Every company charges you a bit of interest if you're on a payment plan. If you can afford it all up front and you're otherwise debt free, then it might make sense to do an up-front payment.
 

DOHC1

Well-known member
I'm a little bit confused. Does jevco only split the premium into 6 payments? I was quoted $197/month (about to start my first year of riding).. I was under the impression that I would be paying $197/month for all 12 months. Under any circumstances, does Jevco ever give quotes based on a 12 payment plan? I tried giving John Duffy a call but I just missed them - office closed at 5.
 

VifferFun

Well-known member
Site Supporter
I'm a little bit confused. Does jevco only split the premium into 6 payments? I was quoted $197/month (about to start my first year of riding).. I was under the impression that I would be paying $197/month for all 12 months. Under any circumstances, does Jevco ever give quotes based on a 12 payment plan? I tried giving John Duffy a call but I just missed them - office closed at 5.
How old are you, and what bike?
 

hamiltok

Well-known member
i'm 23. I believe Jevco will only insure if you're 25+?

I have a 07 zx6r and no tickets. Please advise.
 

VifferFun

Well-known member
Site Supporter
19 years old, 2009 Ninja 250r,
M2 license, (A little over one year old)
Clean record, no accidents/tickets etc.
Hmmm -- for a 19yo $2400/yr in your first year seems about right, and $1200/yr seems too low. I would definitely contact your broker, but I would get my hopes up for a $1200/yr premium if I were you :p
 

VifferFun

Well-known member
Site Supporter
i'm 23. I believe Jevco will only insure if you're 25+?

I have a 07 zx6r and no tickets. Please advise.
With your bike, you don't wantot be going to Jevco since they will surcharge you 325% since the bike is a SS. State Farm is your only option, but if you already own the bike I'm sure you're aware of this already?
 

DOHC1

Well-known member
Hmmm -- for a 19yo $2400/yr in your first year seems about right, and $1200/yr seems too low. I would definitely contact your broker, but I would get my hopes up for a $1200/yr premium if I were you :p
Thanks! I'm prepared to pay $2400/year.. its what i budgeted for when i bought the bike. The hope of a $1200 riding season is always welcome though. I'll be contacting John Duffy tomorrow, and I'll post an update here for anyone who has the same question
 

VifferFun

Well-known member
Site Supporter
Thanks! I'm prepared to pay $2400/year.. its what i budgeted for when i bought the bike. The hope of a $1200 riding season is always welcome though. I'll be contacting John Duffy tomorrow, and I'll post an update here for anyone who has the same question
For your reference, a 51yo in his first year was quoted $1300 in another thread (although it was on a bigger 800cc cruiser); however, this leads me to believe that you are probably paying $2400/yr. Might as well call and find out though :)
 

Bweixz

Well-known member
Site Supporter
19 years old, 2009 Ninja 250r,
M2 license, (A little over one year old)
Clean record, no accidents/tickets etc.
I'm in the same exact shoes as you, give TD a call its 1300 for me while everyone else wanted around 1900 :D
 

elton_t

Well-known member
does TD gives the same quote on phone and online, cuz when i was 19 even now i put in the wrong birth year i don't get 1300 for ninja 250... i got something 3000, clean record full gm
 

DOHC1

Well-known member
The quote they give you on the phone is probably the most correct one. It should be consistant online/phone though, unless youre entering something wrong. As for TD, I just got a quote online and they are quoting me at a little under $2000 for the season, which is cheaper than Jevco. Works out to about $160/month for full coverage. Hopefully they do 12 month billing as it'll be a bit difficult for me to do larger payments.
 

roadtoruin

Well-known member
Jevco sucks! I was with them for years and then suddenly they jack my premium up to over $7000! No warning, no phone call, no regard for loyalty. Just a big slap in the face. Why didn't you guys just send me a letter saying, ****** YOU.

Boo jevco/cornerstone!
 

Gryph

Well-known member
The quote they give you on the phone is probably the most correct one. It should be consistant online/phone though, unless youre entering something wrong. As for TD, I just got a quote online and they are quoting me at a little under $2000 for the season, which is cheaper than Jevco. Works out to about $160/month for full coverage. Hopefully they do 12 month billing as it'll be a bit difficult for me to do larger payments.
I'm with TD and it's 6 payments a year, something called "pay as you ride" I think. Don't think they do monthly.
 

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