[CG]

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]

How much is your discount now?
I figure everyone's is going to come close to that.

 

[atomlowe]

Sweet CGixxer, did you end up getting the 3 months?

 

[CG]

15% discount.

and ya, I took out 3 months again.

 

[Hu99]

ICBC don't give you the declared value anyway, so what's the point in giving them the extra cash?:2up

 

[Human]

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]

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]

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]

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]

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]

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]

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]

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"

 

[atomlowe]

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]

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]

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]

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]

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.

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]

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]

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!