Looking for tips on insurance in BC

Discussion in 'Canada' started by Crashpad, Mar 8, 2013.

  1. Crashpad

    Crashpad n00b

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    Hey thought I would try the group brain on insurance in BC. I just got a quote from a place called beacon and they are $600 a year less then ICBC, anybody have any luck with other insurers in BC for the supplemental stuff?

    Just looking for more options, as the $150 a month from ICBC for my KLR left me feeling a little violated. :cry
    #1
  2. DNF

    DNF Been here awhile

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    BC bike insurance, bend over....


    I found MegFitzpatrick a bit cheaper than Beacon when I had my Duck and my Harley. Get the minimum with ICBC. Secondary insurer for the rest.

    I pay $160 for seven months of my 08 WR250r with ICBC. No collision, 2 million. But it is 249cc and the whole BC system is based on cc.
    #2
  3. Kevin C

    Kevin C XTZ 750

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    You have to have basic insurance and liability with ICBC.
    You can then use a secondary source for collision etc (beacon megson etc)
    As stated-----Bendover
    #3
  4. Steve G.

    Steve G. Long timer

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    I've got one friend who is treated very well with Beacon Insurance,,,and another buddy who does well by Chutter Insurance. Also, Coast Capital Insurance.
    #4
  5. CordR

    CordR Been here awhile

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    To echo everyone else, basic with ICBC then it would seem the next most popular for bikes is either Beacon or Megson Fitzpatrick.

    I've got 2 bikes insured with Beacon year round.


    C
    #5
  6. Chr!s

    Chr!s natural born dreamer

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    Are Beacon or Megson 'good' for all bikes genres and sizes?...i'm bringing a Tuono V4R over from Ontario, hopefully to live in VI so can anyone recommend a sports bike friendly:lol3 insurer?
    #6
  7. Steve G.

    Steve G. Long timer

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    ICBC will not refuse insurance to anyone, and they insure a bike on enghine size, not capability or segment. All the private insurers have black listed bikes, and age restrictions, etc.
    #7
  8. Commuter Boy

    Commuter Boy Long timer

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    ICBC does not discriminate against the type of bike, only by cc.

    FWIW, while it's public insurance, it isn't anything like "Facility" insurance in Ontario. It's a great system on average, which means everyone who has a high risk vehicle, and high risk drivers (think teenagers and 20 year olds) gets a great deal, and crusty old geezers with 33 hp cruisers complain endlessly they get shafted :lol3
    #8
  9. GISdood

    GISdood Been here awhile

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    Same as others have mentioned - I carry only the basic 3rd party liability/registration with ICBC and then private through Beacon for collision, theft, fire, storage, etc...

    Extra benefits of private insurance include coverage for the bike if its damaged while transporting it, if you have a utility trailer you can add that to the policy for next to nothing, and it also covers up to $1000 in riding gear replacement.

    Our annual policy with Beacon only costs us $350/year to cover my 2002 DR650 and my wife's 2008 DRZ400SM, combined. The additional cost (over and above basic registration) to get the same level of coverage for both bikes during the riding months and then theft/storage during the off-season would have totaled around $750.
    #9
  10. Lornce

    Lornce Lost In Place

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    Does ICBC post a list of their basic rate structure on the net.

    :dunno
    #10
  11. Steve G.

    Steve G. Long timer

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    Not their rate amount. Pretty sure their rate classifications on engine size are as follows: 50cc-185cc, 186-400, 401-750, 751-1150, and 1151cc and up.
    #11
  12. woofer2609

    woofer2609 Less flow, more Gnar

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    From ICBC
    "Rate class 310 is for motorcycles with an engine of up to 110 cc, and limited speed motorcycles. Limited speed motorcycles are not more than 50 cc, have a power drive system that doesn’t require clutching or shifting once the drive system is engaged, have a maximum attainable speed of 70km/h, a maximum weight of 95 kg excluding fuel or batteries, and wheels with a diameter of 254 mm or more.
    The other 4 rate classes for motorcycles are:
    311 (111–400 cc)
    312 (401–750 cc)
    313 (751–1150 cc)
    314 (over 1150 cc)"

    I wish there were more 400cc bikes out there, seems like a forgotten displacement as of late.
    ICBC won't mention basic rate structure on the net. It changes from one region to the next. I am not sure how many regions there are. Prices fluctuated quite a bit when I moved to Vancouver from the Island.
    As mentioned previously, Coast Capital Insurance might be worth a look as well.
    #12
  13. Chr!s

    Chr!s natural born dreamer

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    Thanks for all the replies folks, appreciate it. :D
    #13
  14. aquadog

    aquadog Dude Buddha

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    Gosh...I just insured 11 vehicles for liability and underinsured motorist, including a 2009 diesel pick up, 2009 Cobalt SS, FZ1, Versys 1000, KLR650, KLX400 (yes, it's plated), others, for $2,311 per year. In simple terms, that's $210 per vehicle. For that rate, I just leave the bikes insured all year. Anybody want to move to the Yukon? And have you read about SGI going after motorcycles? Motorcycle Mojo had an editorial on what seemed like outrageous pricing.
    #14
  15. Steve G.

    Steve G. Long timer

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    Kewl, you ride all yr then????

    Yeah, we get nailed down in the southwest of BC. 2.7 million drivers stuck in a 70 mile circle. We can take advantage of collector plates here for older stuff. I've got 5 bikes on 1 plate for $500/yr.
    #15
  16. Lornce

    Lornce Lost In Place

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    How old a bike is considered a "collector".

    :dunno
    #16
  17. Steve G.

    Steve G. Long timer

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    It's a program that was instituted at least 20 yrs ago. It gives the opportunity for 'enthusiasts' to operate their vehicles in pleasure only use. The mandate requires vehicles be 25 + yrs old [ as well as vehicles 15 + yrs old with confirmed limited production of 1500 units per year] , and that the vehicles be maintained in very good condition, with only 'period' modifications. It enhances care, maintenance and preservation of old machinery. Unfortunately, since former director Nigel Mathews has retired, the system is now run by people who do not have knowledge of 'period' correct,,,and now regularly see beat up old rats running around with no intention of keeping within the mandate. This makes me mad, as I think it makes the program a joke, and soon people will see this abuse and shut it down.
    #17
  18. Lornce

    Lornce Lost In Place

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    Interesting detail re. 15 years on limited production units. That'd describe my '95 and '96 Buell S2's to a T.

    Hallelujah.

    :thumb
    #18
  19. jackd

    jackd Long timer

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    Hopefully they will not shut it down. I've seen lots of beaters in the automotive side of things running around with 'Collector Plate' designations to realize that the disease runs in all areas. Supposedly they make a profit of 85 cents for every dollar earned through premiums in this end of things so it is a money maker for them. I keep thinking that people might have a problem making a claim when the time comes if ICBC decided that their machine does not conform to the intent of the program.
    #19
  20. Steve G.

    Steve G. Long timer

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    You're right Jack. Insurance companies have a habit of cleaning their hands of responsibility at the slightest hint of indiscretion.
    Any 'period' mods I've done on my bikes have been documented, pictures and letter of explanation sent to their office. They keep record of all pics sent in, scan everything.
    #20