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Discussion Starter #1
Hi guys,

I may be moving to BC this year and I'm curious about ICBC rates for my 2003 R6. Sportbike insurance is getting harder to come by in Alberta...Meloche Monnex was insuring me last year at $740 for full coverage, but this year they stopped insuring sportbikes along with Jevco and many other insurance companies. Best rate I've found so far is with a company called Nordic, they're willing to give me full coverage for $930 which isn't bad compared to other quotes I've gotten at $1150 plus.

What's the going rate in BC for a rider with two year's experience, aged 31, clean record? Anyone know?
 

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Time to Ride...
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I dunno how much it would be for you, but I payed around $930 for 3 months last season! I only had 20% discount last season. but it was still killer pricey.

Those rates that you had in Alberta sound pretty damn cheap, if they were for a full year.
 

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Oil Digger
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Hehe, I was going to ask you the same question.. I just moved from Kelowna, BC, to Calgary.. (work, everyone seems to be disgusted with my decision!)

Wanted to find out what it was going to cost me to ride this spring/summer.
 

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Born to sweep.
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Phone and ask. Look up ICBC on the web. Locate a broker. Phone them. Will only take a minute.
 

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last yrs insurance rates, for a 92 gsxr 750 declared value $5,500 (little high) one million third party liability, and $300 deductible for both collision and comprehensive

base rate ............. $2,830

with discount ........ $1,538

i miss the old days of .... what insurance officer????
 

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Take notice of what this guy says "Sportbike insurance is getting harder to come by in Alberta". For those of you who are always bashing ICBC here is one reason why ICBC is better then private. Private insurance can and will drop any type of vehicle that costs them too much in claims.
 

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I am the liquor
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I priced out a new R6 last year. For me it was about $1800 for a full year, with at 43% discount (ie. clean claims record for more than 5 years), the maximum discount. But I have an R1 and that costs me about $2200 for the year, with the max discount. Needless to say I insure it for only 6 months. Yeah, its painful! If you don't have a clean record, expect to pay $3-4K/yr for full coverage. The price of entry into BC :(
 
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gee alp, he still was getting quotes that are way better than what we pay here....

so private insurance hasn't dropped everything to maximize profits... if a private insurer refused to cover my bike, they'd lose my car and house insurance pretty fast. try THAT with ic fucking bc.

nice fearmongering.

kazmoto, to answer your question, for some reason 600 cc bikes are on a hump premium. expect to pay upwards of $200 a month for coverage.
 
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if you get basic coverage, it'll be about 1000 a year?
if you want comp and collision, it'll cost you a lot more
 
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ICBC is the devil. My girlfriend has moved here from Alberta and it looks like her premiums are going to nearly double, switching from private there to ICBC here. As well, when I moved back here from AZ my premiums did literally double, switching from private there to ICBC here.

Here's one thing that people don't consider: in a place where every driver has the same insurance company, that insurance company will hang you out to dry every time there is the slightest dispute because to do otherwise would mean they'd be in a dispute against themselves. I've been on both sides of that fence.
 

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Discussion Starter #11
Thanks for all the replies guys. Yes, those prices I quoted above were for the full year for full coverage (well, except for vandalism coverage which would have been an extra $100 or so). Here's the breakdown:

$232 for $1 Million liability
$336 for collision
$362 for fire and theft

Total = $930

You can't buy less than a full year's coverage here, at least not that I know of, and most insurance companies require you to pay for the full year in one lump sum payment when you sign the policy. But, I guess us Alberta riders are still ahead of the game when it comes to bike insurance from the sounds of it. You guys seem to be paying quite a bit more even with the increases here this year. Damn, it's gonna hurt if I move to BC....
 

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alp said:
Take notice of what this guy says "Sportbike insurance is getting harder to come by in Alberta". For those of you who are always bashing ICBC here is one reason why ICBC is better then private. Private insurance can and will drop any type of vehicle that costs them too much in claims.
What makes you think ICBC is obligated to insure sportbikes? State your sources. My personal opinion of ICBC is about as low an opinion as I can have about any organization. The sooner they start privatizing these govt sanctioned monopolies the better. Introducing competition into the marketplace never does the consumer harm. By the way how did ICBC go back into debt so damn fast? Were they paying out sick bonuses again? :surrender
 

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Tell me please, rather than the blanket "it's cheaper here/there or over there," what exactly are we comparing?
What level of third party liability coverage?
$200,000
$1,000,000
$5,000,000
What sort of medical (Section B in Alberta, Part 7 in BC) limits/coverage?

What other coverages?
Collision?
What declared value?
What deductible?
Comprehensive?
What declared value?
What deductible?
Limits? Are flying objects covered?
(I ask because my Alberta friends pay extra for windshield coverage for their cars, in BC its included in Comp. I don't know if that applies to m/c's)

So before we start flying around assertions it's cheaper here, or there, what exactly are we comparing?
And who'se going to call the insurance agent?
Who'se discount is going to apply, and what discount is Kazmoto entitled to?
Too many unknowns to give an answer......
 

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Take a look at the PST, Prov income tax, everything else too.

You move out here and there aint much money left at the end of the day.

We dont get Ralph money either!!!
 

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Just and FYI Kazmoto its about to get more expensive as well. So much for having a Surplus ICBC, paying out any large bonuses lately?

"BCUC Approves Interim Basic Insurance Rate Change
On February 1st, the BC Utilities Commission (BCUC) approved ICBC's application for an interim rate increase of 6.5% on basic insurance, effective March 15. The interim rate will remain in place until the BCUC renders its final decision on 2006 basic rates, expected in late May of this year. If the BCUC approves a final rate lower than 6.5%, affected customers will receive a refund subject to the conditions ordered by the Commission.

ICBC's January 27 application to the BCUC sought a basic insurance rate increase of 6.5% for 2006 on an interim and permanent basis, as a result of significantly increased injury costs for claims."
 

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<rant-mode off>
Insurance is not really a mystery. It's a money in, money out operation. What galls a lot of consumers is the lack of "visibility."
They see their own money go out, and don't have claims, so there's no money back.
I've been an insurance guy for 25 years, so don't view it as an evil empire, merely another business.
As far as ICBC goes, love 'em or hate 'em, the real deal is this:
In BC, non liable motorists can sue for injury. Period.
This is (almost) the only jurisdiction in North American that allows this.
So you suffer an injury, either you settle with the insurance company, or you sue the liable motorist and begin the litigation process.
That right to sue, for each and every dollar of loss, is what drives a lot of the premiums.
In Alberta, there is a "deductible," for soft tissue injuries.
(in other words, if you suffered the same injury in BC, as you did in Alberta, the Alberta courts would apply a "deductible," and you, my injured friend, would get less money)
In other jurisdictions, there are "caps," or "limits," on what is paid in injuries, and you dont' have the right to sue. These are called "No Fault," jurisidictions.
Don't confuse "not at fault," with no fault, because someone is always "at fault," although in the business the term "liable," is used.
There are differences in coverages that you don't see as a consumer that doesn't have a claim either.
Death Benefits for example. Your widow, if you are the head of the house, may be entitled to up to $20,080 if you spin off the road and die as a result of your injuries.
Accident Benefits are those necessary medical costs as a result of injuries that each and every occupant of the vehicle is entitled to. The maximum is $150,000.
In addition to that is the small amount of money to augment the lost income, a maximum of $300 per week, to age 65.
Granted, these "maximums," don't get spent with every claim, but in catastrophic injuries they do. It only takes one quadraplegic or death to add up to a multi million dollar pay out.
Yes, we pay more than other jurisdictions.
Next time someone says "Get a lawyer and sue," balance the desire to "get that bastard that did this to you," and consider you should get everything you are entitled to, fair and square.
We all pay for the privilege.
Do I like big premiums? Hell no, but I suck it up, 'cause I like living in BC.
I know there are those in this forum that disagree with my viewpoint, and that's okay, as those opinions are the product of their personal experience.
My $.02
 

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When you come over and start to do your transfer of insurance, make sure you bring your abstract from Alberta. If you don't you get no discount. Square 1 and that hurts. I paid $930 for 6 months last year on my GSXR 1000. I had a declared value of $11,000, I had collision and comprehensive. $1000 deductable on the collision and $300 on the comp. I have a 43% discount.
 

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Isn't ICBC required by law to provide insurance? Being the sole provider and all?
Correct.
The Basic coverage only, which is the $200,000 Third Party Liability mimimum
They can refuse to insure you for Comprehensive, Collision and specified perils.
Sec 115 (2) of the Regulations apply, i'll briefly quote:
"Notwithstanding subsection (1) the corporation may, at the discretion of the corporation, refuse to provide own damage coverage for a vehicle."
 
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