View Full Version : Just got back from Autoplan....



CG
02-16-2002, 01:45 PM
well, Just got back from the Mr Autoplan dude, originally my insurance was gonna cost me 2659 a year, with 1 mil liablility, 10grand declared value, and 300 deductible for collision and comprehensive.

So I go in there, first thing I do, max out my deductibles to $500 each, then bump down my declared value to 9grand (good thing I dont own a ducati), then my new total came out to 2200 a year. So I was a bit happy....

so the lesson today ladies, max out your deductibles, and dont declare the value of your bike higher than it is actually worth.

GTI
02-16-2002, 03:06 PM
How much is your discount now?
I figure everyone's is going to come close to that.

atomlowe
02-16-2002, 03:33 PM
Sweet CGixxer, did you end up getting the 3 months?

CG
02-16-2002, 03:40 PM
15% discount.

and ya, I took out 3 months again.

Hu99
02-16-2002, 04:59 PM
ICBC don't give you the declared value anyway, so what's the point in giving them the extra cash?:2up

Human
02-16-2002, 06:36 PM
I am looking at $11,000 declared value (will reduce that to 9k), 2 mil 3rd party, $300 collision and $300 ded. SP = > $2,700 at 10% discount.....going to insure at the end of march....

xenz
02-16-2002, 07:37 PM
Originally posted by Canadian_Gixxer
and dont declare the value of your bike higher than it is actually worth.

Yep. And what that means is the market value.
I also came back from ICBC today :

98 GSXR-600
Territory D, Class 312
Declared $7000
Liabilities $2 million
Collision $500
Comprehensive $500

That's comes to a total of $2540, and with 43% discount, that brings the total down to $1420. That's roughly $124 per month if I go for AutoPlan 12.

Also, I checked with Coast Capital Saving insuranace department at the Richmond Centre branch, they only do motorcycle via ICBC too, so I got the same quote.

Anyone know any private insurance company that do MC ?

bl1tz
02-16-2002, 07:42 PM
im so dead for insurance this season.


do you really need more than one million 3rd party liability?

can i insure the bike under my parents name even though they don't ride?

CG
02-16-2002, 07:48 PM
Originally posted by bl1tz
im so dead for insurance this season.


do you really need more than one million 3rd party liability?

can i insure the bike under my parents name even though they don't ride?

dunno about more than 1 million, but really, if you get smoked by a car or you smoke a car, who is likely gonna suffer the most? most likely you :( so I only took 1 million.

Yes you can insure under your parents, though they might not trust you with there discount as you can mess it up for them, ie crash, etc....

you said you crashed last year?? do you have a surcharge with icbc? if you do, you may want to consider the moped loophole.... save yourself a ton of cash.

bl1tz
02-16-2002, 07:53 PM
yeah !!
i got a 30% surcharge:1up ...
scooters are pretty $$$.... 2-3 grand for a new one and even the used one demand quite a bit.
im trying to find a scooter for this season though

CG
02-16-2002, 08:24 PM
Originally posted by bl1tz
yeah !!
i got a 30% surcharge:1up ...
scooters are pretty $$$.... 2-3 grand for a new one and even the used one demand quite a bit.
im trying to find a scooter for this season though

ouch :(

you can maybe by a beater bike, look in the buysell, get a crappy smallest oldest bike you can find for like a couple hundred bucks and insure the beast while transferring your surcharged plates to it....

vrecksler
02-16-2002, 09:06 PM
Listen, you may as well go for the 2 million liability, the difference between 1 and 2 million is under 20 bucks, but is worth a heck of a lot more in piece of mind.

OK, let us say that I wreck my bike and when I insured it I declared the value at 10,000. How does ICBC decide what to pay out? Does it go by blue book value or my declared value? If it is blue book, what would stop me from declaring 5k, yet getting full value when (hypothetical) it is wrecked?

Human
02-16-2002, 09:07 PM
check with ICBC before you do, I asked 2 different autoplan agents and they said no extra discounts of any sorts. If you insure it under you parents and they don't have a driving licence then you only get base, discount is not extended.


And regarding 3rd party it's a good idea to go 2 million, becasue with that 3rd party you are able to sue yourself, for damages.....and not to mention if you have a pillion, or as Lloyd says "Riding Bitch" :D:D

atomlowe
02-16-2002, 10:09 PM
I agree, 3rd party @ 2mil. is a great idea. I was quoted a difference of $34/year for the extra mil. I also dropped the declared value to 9.5k. It really didn't do alot from the 10k last year.

Right now, I pay $138/month on AutoPlan12. Their bleeding us, but with private insurance, who knows what you'd be paying if you had one accident and one ticket on ya.

Ryan R
02-16-2002, 10:12 PM
This isn't bike related but here goes. My friend and I went to pick up his new car today (96 Eagle Talon TSI AWD Turbo) from the dealership today and just as he was getting all the insurance straightened out the guy had told him that because he had an at fault accident and wrote off his 91 civic, he would have a 40% surcharge. I was like WTF:eek In the end it amounted to 3976.00 for one years insurance:eek. My jaw dropped to the floor. First of all I thought that for any accident that you are at fault for it can only change a maximum of 30%. His was 40% so that would have to mean that he had 2 accidents, but he only had one. I dont get it. One accident and your screwed. I would hate to think of what a 40% surcharge would be on a bike especially a liter bike.:eek

CG
02-16-2002, 10:58 PM
I was thinking for 2mill liability, but back in november, they quoted me like 80-100 bucks extra or something, and well, I'm not made of money, i'm just a poor student barely making enough to pay for my bike as it is....

but i'm pretty sure you can just sign ownership of your bike over to your parents so in a sense, they own the bike but you are riding it but still get the discount. I'm not sure how it works exactly though.....

ICBC blows anyway :2up

xenz
02-16-2002, 11:16 PM
Originally posted by vrecksler
OK, let us say that I wreck my bike and when I insured it I declared the value at 10,000. How does ICBC decide what to pay out? Does it go by blue book value or my declared value? If it is blue book, what would stop me from declaring 5k, yet getting full value when (hypothetical) it is wrecked?
They pay out base on market value (blue book)... So, if you declare it as $5K, then the most you'll have is $5K even if the market value is $8K.

I purchased my 98 600 @ $7900 and last year I declared it as $9000 and I was paying way more than the market value. so this year I will make it $7K or even $6K which is more reasonable as seen on buy&sell, no need to spend more if I ain't gonna get it back.

Now I don't know what will happen if you purchased the option that claim to keep-your-bike-value-and-won't-depreciate-for-the-next-2-years thing.

xenz
02-16-2002, 11:37 PM
Originally posted by Ryan R the insurance straightened out the guy had told him that because he had an at fault accident and wrote off his 91 civic, he would have a 40% surcharge. It depends on when he has that accident and is this the first time he insure a car after that accident. It all happen in Jan 2001, when ICBC change their scale of discount.

eg. My sister drove for 10yrs, got two claimed accident in between, in 2000 she has a discount of -20% in all of a sudden in 2001 she has a surcharge of +70% out from nowhere. We ask WTF was happening, the ICBC agent told us ICBC put the new discount-scale onto my sister whole driving history !! in another word, it calculate as +70% surcharge if the new discount-scale was used 10 years ago when my sister first got her license, we work it out and he was right. Beside, the new claim-rate scale move up 6 steps instead of 3 back in yr 2000. check out the new claim-rate scale (http://www.icbc.com/Insurance/insura_prmset_yurcla_crscal.html).

ICBC got tons of complain on this and take each complain individually. Check it out with your friend Ryan, and see if it work out correctly that way, if so, complain.

Hu99
02-16-2002, 11:45 PM
You guys realize that ICBC is still cheaper for you young guys than a private insurer? ICBC is prohibited by its charter from charging insurance premiums based on age. A private company would likely not insure a motorcyclist under 25 with a chargeable accident at all, so for guys in that situation, it's a better deal to go with ICBC.
It may suck, but it's not the worst system of insurance. ICBC aren't the crooks, it's the bastards who pad their claim and try to get a huge settlement from a minor injury. There ought to be legislated limits to injury settlements.

CG
02-17-2002, 12:22 AM
Originally posted by Hu99
You guys realize that ICBC is still cheaper for you young guys than a private insurer? ICBC is prohibited by its charter from charging insurance premiums based on age. A private company would likely not insure a motorcyclist under 25 with a chargeable accident at all, so for guys in that situation, it's a better deal to go with ICBC.
It may suck, but it's not the worst system of insurance. ICBC aren't the crooks, it's the bastards who pad their claim and try to get a huge settlement from a minor injury. There ought to be legislated limits to injury settlements.

ICBC lets off on people who are at fault in accidents too easy.... well, waaay easier than private insurance. All you have to do is transfer your surcharge to a stupid moped....

Sure at my age, i'll probably be paying the same if not a bit more if it was private.... but the older people who been driving/riding for 10+ years claim free are getting shafted big time by ICBC....

hell, I get so sick when I hear people on SBN complaing there insurance went up from like 200 a year to 600 a year..... and these guys are around my age! :(

bl1tz
02-17-2002, 12:41 AM
i love icbc !!

and it's true about the surcharge thing, with one accident at fault you'll go up 40%. i had 10% discount last year and now im at 30$ surcharge.

Ryan R
02-17-2002, 04:21 PM
Well I just checked the Buy & Sell and There is a 2001 6R like mine for sale at Bk for 8699. So I think I will drop my declared value down to 9000. And go to 1,000,000 liability. Should compensate for the increase in rates and then some cause I delcared the value of the bike at 11,500.

http://www.buysell.com/showad.asp?id=9956273

vrecksler
02-17-2002, 04:31 PM
Ryan, but what about all your mods? That has to bring the value up a couple notches, no? I know if I wreck my bike (knock on wood) I would like to get all the little things covered as well.

Ryan R
02-17-2002, 04:36 PM
That's a good point, well considering I traded a old sony discman for my pipe and the only real other things of value would be the headlights and oh well I will add 500 more to it just to be safe.:D

bl1tz
02-17-2002, 05:54 PM
you can sue yourself?!?!?
how does one go about doing that?:D

Hu99
02-17-2002, 06:20 PM
Originally posted by bl1tz
you can sue yourself?!?!?
how does one go about doing that?:D

It's a bit like onanism.:eek

xenz
02-17-2002, 08:06 PM
Originally posted by vrecksler
Ryan, but what about all your mods? That has to bring the value up a couple notches, no? I know if I wreck my bike (knock on wood) I would like to get all the little things covered as well. Unfortunately mods doesn't count :( Bike's declare value = market value of the bike + riding appearal and helmets. And helmet max out at $300 if I understand correctly :mad So if you have a very nice Aria, sorry.

vrecksler
02-17-2002, 10:12 PM
Originally posted by xenz
Unfortunately mods doesn't count :( Bike's declare value = market value of the bike + riding appearal and helmets. And helmet max out at $300 if I understand correctly :mad So if you have a very nice Aria, sorry.

Seriously? That is total crap! Just my Scott's steering damper and PCIII add a significant amount of value, I thought it would be something similar to cars where there is an allowance for extras if you have receipts and they are permanently attached to the vehicle. And the fact that they will cover about half the cost of my Arai also bites!

xenz
02-17-2002, 10:19 PM
I was shock too when I first heard it from the Abbotsford bike show last month. that's where I learnt that don't over declare the bike value. but I would keep all the receipt of the mods though for just in case purpose.

Would someone able to re-confirm what I learnt / heard ?

Hu99
02-18-2002, 05:37 PM
Keep the receipts for mods, because evn if ICBC don't cover them, you can sue the SUV driving bitch for your expenses after the fact.

sluggo
02-19-2002, 01:23 PM
Ya, a buddy of mine had a bunch of mods and he declared them to icbc. They say "fine" and took his extra money. Once the bike was stolen they wouldn't pay out for any of the mods.

Get it in writing.

sluggo

Quasi
02-19-2002, 03:23 PM
I got my renewal for my car insurance today. I pay $1575 a year for my $18,000 car with full coverage and low deductables but my 12 year old bike is $1700 a year with fire and theft, 1 mill liability and no collision.

On my car I get a 43% discount and a roadstar discount but on my bike I only got 5%. It has to do with an accident I had back in 98, I realize why it's the way it is but damm its frustrating to look at it and pay more for my bike thats 1/6 the value of my car.

Miteorite
02-19-2002, 05:49 PM
Originally posted by Canadian_Gixxer

if you do, you may want to consider the moped loophole.... save
yourself a ton of cash.

what is a moped loop hole?

GTI
02-19-2002, 06:18 PM
Originally posted by AlphaQ


what is a moped loop hole?

You get into at fault accident. Your rates for first vehicle go up. Second vehicle rate is uneffected. So you buy a moped, insure as first vehicle with just the basic insurance and leave it in your garage. The moped takes the hit. Now go buy insurance for 2nd vehicle and you get your original rates before your at fault accident.

Ryan R
02-19-2002, 07:09 PM
yup that is a sweet idea, but they are cracking down on it now and I heard that you cant do that anymore. In order to have that work they say that the two vehicles cant be the same like two bikes. Must be a truck and bike or car and bike but not two of the same.