Insurance rates skyrocketing for 2016 renewals ? - Page 3 - BMW S1000RR Forums: BMW Sportbike Forum
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post #21 of 45 (permalink) Old 04-13-2016, 02:11 PM
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Originally Posted by MotoMillion View Post
I'd call them up to ask why the rates have sky rocketed. Just out of curiosity.
What I've heard is a lot of companies are raising the accident benefits portions high. The gov't is getting ready to make Ontario insurance drop their rates. So they'll up the accident benefits, then when they have to charge less they'll still be operating at the same margins they always have been.
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post #22 of 45 (permalink) Old 04-13-2016, 11:09 PM
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I'd call them up to ask why the rates have sky rocketed. Just out of curiosity.
The word on the street is that they don't want SS bikes in the stable. People claim that Statefarm motorcycle insurance is running in the red and this is one way the new guys are clearing out the business and concentrating on only the money making ones.

Funny thing is that my wife is with Statefarm on the ZX6r and her premium was fine. So maybe only liter bikes and men...who knows.

Just glad that we still have options.

Wife:M3 | Mistress:HP4
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post #23 of 45 (permalink) Old 04-14-2016, 10:09 AM
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I had the agent read me the quote 3 times to confirm what I'm hearing is correct. I had this on my face:

I really wanted to go with foremost as they offer track insurance. But their quote is twice as much as state farm. So I figured state farm wins, I can figure something out for the track.

i got it in writing that track is covered by them on my policy.
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post #24 of 45 (permalink) Old 04-14-2016, 06:49 PM
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Yeah, SF wanted close to $5K upon renewal. Switched to All-State and I'm paying 1800/year for full coverage w/ 2 mil liability and $500/$300 deductible.
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post #25 of 45 (permalink) Old 04-14-2016, 06:51 PM
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Originally Posted by Mina View Post
Yeah, SF wanted close to $5K upon renewal. Switched to All-State and I'm paying 1800/year for full coverage w/ 2 mil liability and $500/$300 deductible.

Seems like a great deal.
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post #26 of 45 (permalink) Old 04-14-2016, 08:15 PM
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With Geico on 2016 1000 R for $63 a month
Call Geico!!
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post #27 of 45 (permalink) Old 04-14-2016, 08:16 PM
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CANADA....
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post #28 of 45 (permalink) Old 04-14-2016, 10:15 PM
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Originally Posted by xfactor View Post
The word on the street is that they don't want SS bikes in the stable. People claim that Statefarm motorcycle insurance is running in the red and this is one way the new guys are clearing out the business and concentrating on only the money making ones.

Funny thing is that my wife is with Statefarm on the ZX6r and her premium was fine. So maybe only liter bikes and men...who knows.

Just glad that we still have options.
That's weird, I just bought a 13 zx6r for my wife today and statefarm was at $2100.00. Allstate came in at 1010$
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post #29 of 45 (permalink) Old 04-14-2016, 11:02 PM
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Full coverage on my 13' RR, allstate wanted 9000 a year.... And progressive wanted 11,000$ a year. Im 23, first bike, and insurance is out of the roof for it.

Luckily geico was cheapest at 2200$ a year and around 170$ a month compared to the other two mentioned who wanted 7xx$ a month.... Thats almost 4x more then my bike payment!

2012 Racing Red BMW S1000RR. PC5, Arrow Evo 2, IAT relocate, Sprint P08 filter, brentuned. 197 hp 83 tq
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post #30 of 45 (permalink) Old 04-15-2016, 05:50 AM
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Does Warren Buffett provide coverage in Canada? Come on folks. Let our neighbors up north have their conversation.
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