Motorcycle Insurance

[hellion]

Help help

Honda Hawk 400 '79
quite immaculate
but still...
should I really be paying over $630/yr insurance?
ICBC valued it at $2500

Hmmmm... :?  

I appreciate any guidance here, being that I'm a noob.
Thanks.
 

[hapihour]

Check with Paul at Cassells Insurance at Broadway and Cambie, or check with Coastal Capital, Canada Direct or Megson and Fitzpatrick.

[hellion]

Thanks Hapihour...I shall.

 

[Chr!s]

Probably the best known secondary insurance broker is Megson-Fitzpatrick in Victoria who write policies on ING Insurance.  I've heard that they have an excellent reputation for handling claims quickly and fairly.  They will require faxes of your documents and will discuss your needs by toll-free phone. It's best to start discussions about 3 weeks before your current coverage expires though.  Note that you will still have to go though your local AutoPlan broker for ICBC coverage.  See their website for other information - http://www.megsonfitzpatrick.com/

Ok, i've spent hours trying to identify what the auto/bike insurance req's are for BC...I think i've nailed it but i've just a couple of queries that i'm hoping somebody could help with...

My choices are private insurers (best approached via brokers) and the public choice of ICBC...yes?

If i go private do i still need to use ICBC for anything, from the post above it would seem so?

Cheers!

[Scorpion71]

My choices are private insurers (best approached via brokers) and the public choice of ICBC...yes?

Private Insurance can save a lot of money and also offer some extra perks depending on the private insurer. Most private insurers have prerequisites, some require 10 years of possesing a valid motorcycle license, some require drivers abstract with no at fault claims or speeding tickets within the last five years. I also don't know if they have issues with foreign licenses, quite possible that some may have. You'd have to research each individual insurer.

If i go private do i still need to use ICBC for anything, from the post above it would seem so?

Yes, you are required by law to have ICBC basic insurance coverage.

[Chr!s]

Thanks mate, i also received a PM off Gordon, much clearer now.

[virgil]

  Chris:

Aside from all the good advice you're getting, most insurance agents here once you arrive
will explain the core constraints on the big picture: no free lunch!

Any deals cited, are misleading: agencies offering discounts will dump you after your 1st
accident or other "risk" they perceive in your riding experience. ICBC will always be there
as your insurer of last resort, but at the market price applicable to our jurisdiction (and not
some non-comparative "other!").... 

The bottom line few either discuss or apply, is personal Risk Management:
a concept unto its own, started in the Business World in the late '80's
and still not diseminated to the masses....   

Ride clean and your rates will stay low! 

[Chr!s]

I've been riding bikes for the last 19 years and had only 2 'mishaps'. Only 1 is recent enough to mention and it involved an altercation between a deer and me which i lost miserably. At the moment I'm trying to get some evidence together from previous insurers of my history but it looks like i'll be coming as a newbie as trying to secure 8 years (ICBC criteria) of insurance history is nigh on impossible as my past insurers have no records older than a few years. Oh well, it's only money 

Btw, apologies to the OP as i've hijacked this thread!

[elevation]

well considering the thread started in 2006 I think your safe from any accusations of thread hijacking!

Will ICBC be giving you any sort of discount? A point to consider is the collision rider. If your bike is worth less than $8,000 I would really consider not adding a collision rider to your policy. It does reduce your insurance costs significantly.

[Chr!s]

well considering the thread started in 2006 I think your safe from any accusations of thread hijacking!

Will ICBC be giving you any sort of discount? A point to consider is the collision rider. If your bike is worth less than $8,000 I would really consider not adding a collision rider to your policy. It does reduce your insurance costs significantly.

Does 'collision rider' mean collision insurance? If so, i won't be taking this even though i'll probably end up buying a new Suzuki DL650 at $10K (standby for new topic!). Aside from the deer incident i've never had to make such a claim before so i'll take my chances. Depending on m/cycle theft rates in my intended area i may take comprehensive cover.

[elevation]

good plan!

Sportbikes thefts are a real problem in Vancouver but everything else is fine. I have a Honda VFR, even if I left the keys in the ignition no one would steal it. Your safe with DL650 but comprehensive is still a good idea.

[goodguy]

you have more than one bike insured with Megson and Fitzpatrick, you'll get a discount.

[CHIA]

good plan!
 I have a Honda VFR, even if I left the keys in the ignition no one would steal it.

I really like VFR's....hey, reminds me, I don't have your new address

[elevation]

I really like VFR's....hey, reminds me, I don't have your new address

I have to park outside now as well...  Good thing it has an invisible cloak on it. It's the latest in Dowco motorcycle covers.