Holy. What's the damage on that thing insurance wise?Hi all,
Got my M1 recently and bought my first bike. It's an old ducati (1995) which is good for cheaper insurance, and more than quick enough for my needs.
Hoping to take my M2 in the spring. Hopefully learn a bit from this site! Cheers.
Sure thing, but you'll have to excuse me as I'm a recent immigrant. What is 'SABS'?Something doesn't make sense: M1 license, a Ducati 916 and $524 a year for insurance?
OP, I'm curious: Can you tell us what your policy says for SABs and liability?
I think SABS is statutory accident benefits.Sure thing, but you'll have to excuse me as I'm a recent immigrant. What is 'SABS'?
I took the insurance papers to Service Ontario to get plates and have been on the road for a few weeks now.
Good point.... maybe I don't(?) Better call my insurer.... Oh, and I'm in the Kawarthas not GTA so that might also be a factor.Are you sure you have liability coverage? $524 sounds way too cheap for someone on an M1 and that bike type. To me it sounds like you only have fire and theft coverage. Also, are you located in the GTA ?
From the breakdown in your previous post, sounds like you have liability. Still no harm in calling and confirming. Location is probably the big factor here, and well if you were able to provide a letter of experience/insurance from your home country, that would've helped too. Still premium is insanely cheap for full coverage.Good point.... maybe I don't(?) Better call my insurer.... Oh, and I'm in the Kawarthas not GTA so that might also be a factor.
I tried initially with a Broker. No insurers were prepared to give experience credit from outside Canada or the US. Initial quotes were like, $2300!!I'm still surprised to learn that Scotia insures motorcycles. It never popped up on my radar and I shop every year
Even 2300 is good, how sad is that.I tried initially with a Broker. No insurers were prepared to give experience credit from outside Canada or the US. Initial quotes were like, $2300!!
Scotia was my last thought, I already had the car with them so gave them a call and lo & behold they delivered.
As you should be! You are paying the rates that we all should be paying.I should probably point out that I did ride a 250cc bike back home and had insurance there. The ducati is my first bike in Ontario.
Ok, so I pulled out my policy.
As mentioned, I had to bundle bike cover with my car. I paid my car premium up-front when I arrived in the country: $1437 for a 10 Honda Accord. I have no insurance history in Ontario but do in my home country. I had to show this to Scotia as part of the bike insurance and they then also also applied a a discount on my car to give me some credit for experience.
OK, so for the bike policy: Under 'Liability' ($1M), my premium says '$13'. Under 'Accident Benefits (Standard Benefits), it says '$73'. Comprehensive is included, $500 deductible, premium '$26'.
Subtotal: $1437, Modification: $137
My totals show $1437 already paid, a modification of $137 for the bike (paid monthly @ $19.57).
So $1574 combined for car + bike. I`m happy enough!