After many years with H&R, during which they always sorted a good deal for my two bike policy, this year they went over the top so I started shopping around. Most agents or companies were the same, cheap till you start adding mods then the cost spirals. However, I was pleasantly surprised by Devitts; the only company to recognise the difference between adding accessories and modifications. Even then all they want to know is the total value of the accessories.
I thought modifications might still be an issue, so I then wrote to them and successfully argued the difference between modifications and routine service items. I explained that whereas owners with new or newish low-mileage high-value bikes add modifications to improve performance - be it suspension or engine etc or bling, owners such as myself with high-mileage low-value bikes need to fit things like shocks to replace warn out items and that this was simply routine fitting of like-for-like pattern parts. They were happy with that and there was no hike in my premium. Result! :thumbsup
We have it nice and simple here. For 'all peril' comprehensive coverage (fire, theft, riding into the ditch, falling over in the car park et al) you tell the insurance company how much coverage you want (replacement value), how much of a deductible you want to pay, and away you go. The higher the replacement cost the higher the premium. As with everywhere else it is always worth shopping around, but we only have a handful of insurance companies that offer comprehensive coverage to motorcyclists.
For the mandatory coverage (third party liability) the premiums are set according to their rules and regs (where you live, what is being covered, how much 'no claims' etc) and by how much liability coverage you want, starting at $200,000 and up to $5,000,000.
:icon_lol: We wish....
PS to my note. The outfit that I deal with also throws in extra coverage (about $1000) for loss or damage to your riding gear and helmet, at 'no charge', when you take out the comprehensive coverage.
AND if you do not make more than one claim within two years of the last there is no increase in your premiums.
Sounds like living the dream Nick.... if only.
Quote from: JayDub on May 12, 2015, 05:46:56 PM
Sounds like living the dream Nick.... if only.
The only 'downer' is that the third party coverage, which is mandatory, can only be obtained from the provincial insurance corporation, so there is no competition for that. The premiums are not too exorbitant, but it would be interesting to see what competition would do.
Quote from: nickjtc on May 12, 2015, 09:39:56 PM
The only 'downer' is that the third party coverage, which is mandatory, can only be obtained from the provincial insurance corporation, so there is no competition for that. The premiums are not too exorbitant, but it would be interesting to see what competition would do.
Complicate it!! That's what competition does. In order to offer lower premiums, they all offer low prices on the search engines, then you find that all the cover you really need is extra. So then you spend hours going through each company's on-line forms only to find the actual cost is two-three times the basic price, or - more often - please ring us for a quote.....
On the basis that I can only drive / ride one at a time, I'd like to find a broker that would take all my vehicle insurance needs and come up with on overarching policy. As he said, dream on..... :icon_rolleyes:
Quote from: Bixxer Bob on May 15, 2015, 12:34:15 PM
On the basis that I can only drive / ride one at a time, I'd like to find a broker that would take all my vehicle insurance needs and come up with on overarching policy. As he said, dream on..... :icon_rolleyes:
I neglected to mention that if you have a 'collection' of bikes, all over 25 years old, and all insured with 'Collector' plates, you can have one policy that covers them all here...... :augie :augie
You can do that here as well* - and no need for special plates. Agreed value as well.
£150 / year for my DL650 & Triumph 500 - fully comp, agreed value on the Triumph and full UK / EU breakdown cover. Cheap enough even for me.
*actually usually 15 years.