Two or more bike Insurance in Ontario

Discussion in 'Canada' started by zapochris, Mar 11, 2018.

  1. zapochris

    zapochris Adventurer

    Joined:
    Apr 30, 2014
    Oddometer:
    51
    Location:
    Cambridge Ontario - Canada
    Hi all,

    For those that have more then one bike on the road at the same time, do you pay two insurance policies? My insurance charges two policies on my two bikes, even though I obviously can only ride one at a time.

    Thanks in advance for your feedback.
    #1
  2. pvwheeler

    pvwheeler Your Message Here...

    Joined:
    Jan 18, 2006
    Oddometer:
    95
    Location:
    Wiarton,Ont,Canada
    Yes.
    #2
  3. GiddyThump

    GiddyThump Been here awhile

    Joined:
    Apr 29, 2015
    Oddometer:
    204
    Location:
    Ontario Canada
    Same here
    #3
  4. sieg

    sieg Wearing out tires......2 at a time, day after day.

    Joined:
    Jul 9, 2008
    Oddometer:
    5,722
    Location:
    Southern Illinois USA
    Good question!

    Most in the US do, except Progressive. How do they do cars in Canada?

    This is one of my pet peeves, because we have 19 vehicles and two drivers. I can understand that comprehension coverage should be priced per vehicle because more than one vehicle could be damaged at the same time while parked. But collision and liability should be priced per driver. As they can only be exposed to possible loss at one time by the amount of drivers not the amount of vehicles. Rant over.
    #4
  5. Trialsguy

    Trialsguy Been here awhile

    Joined:
    Jun 6, 2007
    Oddometer:
    489
    Location:
    Toronto
    Yep.... has always been the case in Ontario. 2 bikes, 2 payments, even though they are on the same policy number.

    Years ago the companies also stopped allowing for 6 month policies for those who only rode in the warmer months. I know riders who then thought it would be an idea to get a policy, then 6 months later cancel it and get another in the Spring. That just saw thier rates climb even quicker as they had to keep getting new quotes each time.
    #5
  6. sturgeon

    sturgeon Long timer

    Joined:
    Jun 27, 2007
    Oddometer:
    1,223
    Location:
    Great White North
    The insurance companies rationalize it by pointing out that you can legally lend your motorcycle to anyone with a valid license and they are also covered by your insurance (possibly barring someone in your family unless you disclosed that to them when you bought the policy). There is no legally enforceable way that you can "promise" to never lend one of your bikes to someone else. So in reality, all of your bikes could be ridden at the same time. Whether there ought to be a way to make such a promise is a whole 'nother question.

    BTW, I'm a long-time owner of multiple motorcycles, and completely in sympathy with anyone having to pay multiple premiums to insure all them. Just pointing out the reasoning insurance companies give.
    #6
  7. CanadianX

    CanadianX Oh!? That is deep.

    Joined:
    Dec 26, 2010
    Oddometer:
    3,748
    Location:
    New Brunswick
    Same when we were in Ont. I did manage to have my wife excluded from the policy. As a new rider it would have jacked the rate and because I had two bikes the insurance co. tried to insist she be the primary on one. I refused on the grounds that as a new rider and a petite 5'6" she wasn't going to be riding my 500exc or GSA as it would be almost impossible. They sent me a sworn affidavit that I had to sign and send back to reinforce that she wasn't covered...well no shit Sherlock.

    A long time ago BC used to insure the driver I think but did away with that in the 80s I think. Long before I got a licence anyway.
    #7
  8. sturgeon

    sturgeon Long timer

    Joined:
    Jun 27, 2007
    Oddometer:
    1,223
    Location:
    Great White North
    That affadavit is, I think, the one out you have. You can exclude a single person, but there seems to be no way to exclude everyone in general. They tried that one on me too. At at least one company, my argument that she didn't even have a class M license did not seem to carry any weight.
    #8
  9. Joe

    Joe Debaser

    Joined:
    Nov 6, 2007
    Oddometer:
    1,985
    Location:
    Ontario, Canada
    TD gives a very minimal discount on the second....
    #9
  10. ToothDocJay

    ToothDocJay Been here awhile

    Joined:
    Feb 18, 2015
    Oddometer:
    375
    Location:
    Cobble Hill, Vancouver island, BC ("wet coast")
    I'd love to see them issue a single plate for motorcycles, that can be moved between 2-3 bikes. One policy, based on the most expensive bike.

    Then you could ride them all, one at a time.

    Never gonna happen....cus ..insurance...they like making money.
    #10
  11. zapochris

    zapochris Adventurer

    Joined:
    Apr 30, 2014
    Oddometer:
    51
    Location:
    Cambridge Ontario - Canada
    ToothDocJay, I like your thinking (one license plate solutions).
    #11
  12. klondike1

    klondike1 Nobody in particular

    Joined:
    Feb 12, 2010
    Oddometer:
    672
    Location:
    Ontario, Canada
    I had two bikes for a few years gave up the second for just this reason. I f,ing hate insurance companies.
    #12
    GiddyThump likes this.
  13. ToothDocJay

    ToothDocJay Been here awhile

    Joined:
    Feb 18, 2015
    Oddometer:
    375
    Location:
    Cobble Hill, Vancouver island, BC ("wet coast")
    If I could do the "one plate multiple bike" option, I'd insure my bikes year round. As it is, I insure each for about 7 months and stagger them so I get a longer riding season out of them.

    Hell, they could even add an "additional bike" premium of $100 or so for the privilege and I'd pay up.
    #13
  14. Jimo368

    Jimo368 Quantum Mechanic

    Joined:
    Feb 23, 2011
    Oddometer:
    408
    Location:
    Northwestern Ontario
    I have three bikes insured and switched to Wawanesa a couple years ago after TD increased their prices by about 60% a year. 2015 VStrom 1000, TL1000S and DRZ400 comes to $1445 per year, full coverage.
    #14
  15. 1bigrn

    1bigrn Been here awhile

    Joined:
    Sep 13, 2010
    Oddometer:
    530
    Location:
    London Ontario
    I get screwed on each bike. Having 9 bikes in the stable means I have to choose one or two to insure. The worse part is I can't even get fire and theft on the other bikes without full insurance. The most outrageous part was their quote on a 89 Gsxr 1100. It appears only one company will insure it. They want >$4k and I have a good record. WTF
    #15
  16. ToothDocJay

    ToothDocJay Been here awhile

    Joined:
    Feb 18, 2015
    Oddometer:
    375
    Location:
    Cobble Hill, Vancouver island, BC ("wet coast")
    In BC I'm paying about $110-120 PER MONTH for each bike (Vstrom 1000 and Victory Gunner). That's about $230 a month to insure the 2 bikes.
    #16
  17. zapochris

    zapochris Adventurer

    Joined:
    Apr 30, 2014
    Oddometer:
    51
    Location:
    Cambridge Ontario - Canada
    In Ontario for me also $230/month for two bikes. Tiger 1050 and Oldwing ('83). Which is the same as for two cars ('11 Volvo and '09 Toyota) and the house!
    #17
  18. Jbone11 11

    Jbone11 11 Long timer

    Joined:
    Jan 4, 2011
    Oddometer:
    1,134
    Location:
    Back Home Wintery Ottawa, Bleh!!
    I have two insured right now, 690 enduro and a 200 XCW. Just kicked Intact to the curb and went with Aviva. Intactc was $170/m for both.. Aviva is $123/m Before that I had the 690 and a KTM 450exc. Intact was doing them both for $140-ish IRRC. And Before that I had my 450 and my Ducati 916 insured for the same amount. The 916 is a '97 on paper (has '02 everything else except for the frame) so I find it highly outrageous that an 89 Gixxer was gonna run $4k a year.

    That said, after working briefly at a bike shop last season, I noticed a significant mark up on older Suzuki parts... not sure if it is related but running older Zuki's seems to be a very expensive endeavor - both for find parts and insuring!
    #18
  19. 1bigrn

    1bigrn Been here awhile

    Joined:
    Sep 13, 2010
    Oddometer:
    530
    Location:
    London Ontario
    here is the exact email from my insurance broker. I have removed any personal identifiers.
    The prices are as follows for all the motorcycles: (Coverages quotes unless stated otherwise: Liability $2,000,000, Collision Deductible $500 and Comprehensive Deductible $300). Rating is based on 50 years old with one minor conviction.



    1.1989 Suzuki GSXR 1100, collectable, approximate value $8000. – $4,180 (Full Coverage) $3,882 (Without Collision) (Facility)

    1. 1992 Honda CBR900rr, collectable, approximate value $8000. - $1,362 (Full Coverage) $1,148 (Without Collision) (Wawanesa)
    2. 1998 Yamaha R1, collectable, approximate value $7000-$8000. - $1,616 (Full Coverage) $1,361 (Without Collision) (Wawanesa)
    3. 2001 Honda XR650R, Approx value $5500. - $919 (Full Coverage) $803 (Without Collision) (Wawanesa)
    4. 2009 Honda CRF450X, Approx value $5500. - $825 (Full Coverage) $721 (Without Collision) (Wawanesa)
    5. 2004 Vstrom 650. Approx value $3500. - $982 (Full Coverage) $859 (Without Collision)(Wawanesa)
    Other options could be TD insurance or Dalton Timmis Insurance Brokers in Hamilton.
    #19
  20. Jbone11 11

    Jbone11 11 Long timer

    Joined:
    Jan 4, 2011
    Oddometer:
    1,134
    Location:
    Back Home Wintery Ottawa, Bleh!!
    No offence, but how do they figure a '89 Gixxer is worth $8000??? Is it mint with low original miles or something? And is "collectable" a designation for a special class of insurance? If so, then that would follow.... if not... :confused

    I only ask as My 97 916 would fall in the same category and Im neither paying a crazy premium or have a super high replacement value. My premium on the 919 was $975/yr. Replacement was around 8K.... maybe. I'd have to check.
    #20