[dufman]

Hey All,

Just got my renewal papers in the mail for this year and I figured if there are any other riders in Ontario we could have a thread that easily compares. I've searched high and low for a better rate but haven't had any luck. I have a 2013 CB500FA, mid 20's and Ive had my M rating for almost 3 years now. Currently paying 881 a year for full comprehensive with 500 deductible.

 

[dancinkozmo]

2013 cbr500r...late 40's... 26 yrs riding ...484/yr ...same coverage as you

 

[duktayp]

Wow where do you guys live and who are the providers?
I am getting robbed with StateFarm @ $350/month in Brampton. I'm 24 and had my G1, G2 and G as soon as I was eligible for each stage, no tickets or accidents either.
This is my first year riding however. My renewal is coming up in April so I will be shopping around.

 

[Blackfin]

I was looking over my policy today. I'm paying quite a bit I believe because I carry a fair amount of coverage.

I'm 47, married, have three cars and our house and all its contents with the same company. We live just outside the GTA. No at fault claims in 32 years of driving but I've only been insured on a bike since August of this year (Aug-Nov on the CBR, the FZ8 since then.)

I have the usual liability, uninsured auto, direct comp (property damage), comprehensive and collision and "family protection". Those would amount to roughly $270/yr.

I also have so-called "accident benefits" which cover a ton of things including income replacement, caregiver, housekeeping, home maintenance, medical and rehab, attendant care etc etc. This adds a substantial $555 to my annual bill.

I'm on a bike and know that an "incident" could be life altering. I have responsibilities to my wife and family and so being well-covered in the event of a crash is the right thing to do.
@dancinkozmo and @dufman, do you have accident benefits coverage or are you just going with the bare minimum liability and basic comprehensive?
@duktayp, how does that $350/mo break down? How much is liability, for example?

 

[dufman]

I live near Belleville Ontario. My provider is Melloche Monnex with TD. I don't have any of the extras Blackfin, I am covered through my life insurance policy for all that disability stuff. I can imagine that it adds up. I will make note that part of why mine is a little higher is this is my first year being insured as a primary and I had not been on any insurance the last 3 years even as a casual.

Dukayp, that is a pretty high rate. Check to see if you qualify for Melloche, I know the nearest competitor could only offer me 1500 a year with less coverage.

 

[LeMisanthrope]

Brampton.

Look no further.

When i moved from Brampton to Mississauga, my car insurance dropped by $95 / month.

My quote for a cb500x was for 1460/ year. 28 y. old male, South Mississauga, no accidents or convictions. M2 for the past 2-3 years.

 

[duktayp]

@Blackfin here is a quote with breakdown which I found in my inbox, this one was for a ex500 prior to me purchasing the cbr500r but I believe the breakdown is very similar for the cbr. This was my first time purchasing insurance on my own so I really didn't know what I was doing:

POLICY COVERAGES AS FOLLOWS:
BODILY INJURY AND PROPERTY DAMAGE LIABILITY $1M
$1483.03
ACCIDENT BENEFITS BASIC
$1693.81
UNINSURED AUTOMOBILE COVERAGE
$52.39
DIRECT PROPERTY DAMAGE $0
$466.36
COMPREHENSIVE $300 DEDUCTIBLE ACV (EXCLUDING COLLISION OR UPSET)
$492.05
FAMILY PROTECTION $1M
$24.24

TOTAL OF 12 MONTH PREMIUM $4211.88
MONTHLY PREMIUM (SERVICE CHARGE NOT INCLUDED) $350.99

 

[camperbc]

@Blackfin here is a quote with breakdown which I found in my inbox, this one was for a ex500 prior to me purchasing the cbr500r but I believe the breakdown is very similar for the cbr. This was my first time purchasing insurance on my own so I really didn't know what I was doing:

POLICY COVERAGES AS FOLLOWS:
ANNUAL
LIMITS PREMIUM
BODILY INJURY AND $1M $1483.03
PROPERTY DAMAGE LIABILITY
ACCIDENT BENEFITS BASIC $1693.81
UNINSURED AUTOMOBILE BASIC COVERAGE $52.39
DIRECT PROPERTY DAMAGE $0 $466.36
COMPREHENSIVE $300 DEDUCTIBLE ACV $492.05
(EXCLUDING COLLISION OR UPSET)
FAMILY PROTECTION $1M $24.24

TOTAL OF 12 MONTH PREMIUM $4211.88
MONTHLY PREMIUM (SERVICE CHARGE NOT INCLUDED) $350.99

HOLY @#$%, that has to be the most frightening post I've seen to date on this forum! I have to go lay down now.

Glen

 

[Blackfin]

Holy cow. Thanks for the breakdown duk. That's crazy.

I suppose they -- government, insurers etc -- are trying to force people in your position to decide "**** it, this is too expensive. I'm going to take the bus."

I wonder what it would be if you lived in, say, Kitchener or London instead of Brampton.

 

[duktayp]

Np,

I have a little bit more info on my situation. I shopped around with a few other major insurance providers and did not really received a better quote.

What I found ridiculous is that this quote did not include comprehensive, they wanted another $300/month for comprehensive... That almost covers the whole cost of my bike in a year so I opted out as that would just be plain stupid.

I was told by my current provider that if I insure my car with them on renewal in April 2015 (I'll be 25) that my insurance premium for the bike alone will be ~$91, plus whatever my car insurance is, I'm guessing this is due to the fact that the liability will be shared between the car and bike. This is somewhat reasonable in my opinion and naturally I would have waited but I wanted to get on the bike asap so I figured I would pay the high insurance premium this year.

 

[Alienbeatz]

I live near Belleville Ontario. My provider is Melloche Monnex with TD. I don't have any of the extras Blackfin, I am covered through my life insurance policy for all that disability stuff. I can imagine that it adds up. I will make note that part of why mine is a little higher is this is my first year being insured as a primary and I had not been on any insurance the last 3 years even as a casual.

Dukayp, that is a pretty high rate. Check to see if you qualify for Melloche, I know the nearest competitor could only offer me 1500 a year with less coverage.

Hi. Still use these guys? Who's in same area now. About to get a 2022 cb500

 

[grosst]

Holy cow. Thanks for the breakdown duk. That's crazy.

I suppose they -- government, insurers etc -- are trying to force people in your position to decide "**** it, this is too expensive. I'm going to take the bus."

I wonder what it would be if you lived in, say, Kitchener or London instead of Brampton.

Pretty much agree with this, it's too much expensive compare to other countries