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Outragous Insurance Cost

16K views 53 replies 36 participants last post by  metalguy 
#1 ·
My bike insurance is going up to over $1600.00 .We have a short riding season up here in Canada. I like riding,but this is becomeing very expensive. It is a government run insurance with no other options.I don't think I can justify spending that kind of money.
My question goes out to everybody,is price no object for insurance costs? When does it become to much for you? Or will you ride no matter what cost.It keeps going up at least 10% a year. I might hang up my riding jacket,until a private insurer offers cheaper rates.
Just want to here your opinion's. Thanks
 
#6 ·
insurance

My truck cost's me $1200.00 a year. My wifes 09 Toyota cost $2000.00
Bike insurance is a heavy gov't gouge,but we have no other options.My bike insured in the city would cost $800.00 more,but because I live in a rural are it is cheaper:shock:
I hate to quit riding but this is to much.:x
 
#7 ·
That is more than I pay for both bikes, jeep wrangler, dodge caliber and ford pickup for a year. Full coverage on all. Jeeezuz!
 
#8 ·
Keep in mind my American friends that he is Canadian and therefore is stuck paying obscene insurance costs. Just the way it is.

That said I would not pay $1600 a year for insurance. My insurance is half that.

Even if we use a U.S. Insurance company we still won't get U.S. insurance prices.
 
#11 ·
We have a family member that lives in Minneopolis. He has 5 Harley's and he told me he insures them for the same amount that I pay.
He thinks were crazy living north of the border. I told him what's not to like $5.00/gallon gas, -30* temp. in the winter,mosquitoes that can carry away small dogs,ah it's not that bad
 
#14 ·
I just did my insurance and it was 138.66 for Full coverage on my 03 Shadow Spirit from Allstate.While I was there they dropped my standard policy on my 74 Bronco and wrote it as a Antique Policy so insted of having all my stuff on 1 Policy I now have 3 seperate ones and they saved me some Money in the Process.
 
#18 ·
Well, I am curious about something.

Is there some facet of life that you (Canadians) get for next to nothing compared to what we pay in the USA?

Like for example (I'm pulling this out of the air) Sure, their insurance costs are sky-high, but they only pay $x for (product or service)
 
#21 ·
Hey Motorn, I have to say I'd hang up my helmet. I imagine the high insurance rates are somehow tied to your government-supplied health insurance. Is that liability and comprehensive insurance? I'm concerned the same thing could eventually happen here in the U.S. if the federal government takes over health care insurance/health care services.

My Ace is licensed in KY and my driver's license is KY. KY requires the owner to carry liability insurance in order to license the vehicle in KY.

Come on down! We got plenty of room...right now anyway.
 
#22 ·
^ Well Montego , the official reason for our high tax rate here in Canada is our "free" health care , but the ridiculously high insurance premiums are just a gouge , and we have to bend over and take it . As ww states above , not all Provinces have govmnt run insurance but prices are similar . I just got my renewal : $456 for 03 ACE + $900 for 05 RC51 , clean record , 45 yrs old . But if I get a speeding ticket or have an at-fault accident , these amounts will probably double ! Wonderful .
 
#24 ·
:shock::shock::shock: Holy cow that's expensive insurance.

I'm 24, single, with a clean record. For my bike and two cars, I pay $1200/year. Full coverage on the bike and newer car, liability only on the older car.
 
#25 ·
My truck runs about $1800 a year with a 45% discount for safe driving. My bike, is even more retarded if I run through ICBC. I was looking at $1000 for 6 months. I dropped to base insurance only and got it down to $350 for 9 months. This is what I need to actually operate on the roads. Without it, huge fines! I then found an outside company to do the extra liability, theft etc at $350 for a year, so it is covered at all times for replacement, even when the ICBC insurance runs out. That way, if stolen out of my garage in the winter, I am covered. So $700 going with half ICBC, half private and almost $2000 straight ICBC.



And these prices are in Canadian Dollars, so add a bit on to convert to American... :)
 
#26 ·
Oh, and don't even get me started on what the wife pays for her mini van used for her in home daycare!!!! It's a good thing she makes some coin.
 
#28 ·
I guess I didn't answer the OP's question though. Would I pay $1600 to ride for the summer. Answer is a simple if I could afford it. I like riding, I prefer the bike to my truck, I would pay what I can afford, just to ride. I couldn't afford $1600 without dropping something else and would have to see what I found more valuable.
 
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