BC Sport Bikes Forum banner

1 - 20 of 23 Posts

·
Just Another Enthusiast
Joined
·
2,051 Posts
Discussion Starter #1
Well guys, I got this website from R1 Girl's webpage, as she saved a couple hundred on insurance. www.megsonfitzpatrick.com

They will not insure everyone, you need to have had a drivers license for min. 10 years, and a class 6 for at least 4 years. Basically you apply and they review your application and decide if you a good person to insure.

But they do cover ALL mods and accessories, INCLUDING trailer and helmets! They also offer discounts if you have taken riding school courses. I think this is pretty cool, and am going to apply. Once I find out what is going on, I will let you know but check out the website for more details.:)
 

·
Premium Member
Joined
·
11,195 Posts
I got a quote from them at the MC show. Don't know how much ICBC is going to be so I'll reserve judgment for now but they seemed quite reasonable.
 

·
Just Another Enthusiast
Joined
·
2,051 Posts
Discussion Starter #3
BM, could you elaborate? Maybe some details about this quote? :)
 

·
K1200S
Joined
·
255 Posts
I purchased my 955i insurance though Megson Fitzpatrick. The total cost, including the ICBC basic, was $914 . This includes 7 months of on-road insurance, comprehensive, theft and collision to $17500, 5 month storage insurance and trailer insurance. What a deal!

By the way, there won’t insure my R1.
 

·
Registered
Joined
·
465 Posts
I think we will see more Third Party Insurers coming in the near future. Right now you still have to get the Basic from ICBC, but probably lift that restriction once they figure out a way to keep everything competitive. This is the first I heard of a Third Party offering insurance to Sportbikes =)
 

·
Just Another Enthusiast
Joined
·
2,051 Posts
Discussion Starter #8
Hey, I am only 28 and do not consider that OLD! ;) Heck, I barely qualify myself with that 10 years with a driver's license restriction. Had I waited until I was 18 to get my license, I would have missed out.

Almost40, that is GOOD news, I would love it if I could get a discount like that, right now ICBC wants close to $2000 to insure me, and they do not cover the $$$$$ spent on mods and accessories. :)

I sent in my online application and hope to hear back from them soon.
 

·
Registered
Joined
·
1,489 Posts
Just so you know here was my quote from ICBC for my 2002 R1
Basic coverage $816
Full optional coverage $1186
For the low low cost of $2002 a year after 43% discount

With Meagson Fitzpatrick

Basic coverage $816 (have to get from the ICBC)
Full optional cover $499, thats right less than $500 for full coverage upto $18000 for my bike, helmet, and gear.

So total cost with MF $1315 for a savings of $687.

Now I have more than 5 years riding experience and more than 10 years driving am 33, and store the bike in a locked garage at my house.

The rates are different for everyone as there are lots of factors that they consider including how many speeding tickets you have gotten in the last 2 years, if more than 3 then they can sur charge you. The garage and a house makes a difference since Jody's R1 is in a garage at her apartment, even though secure her R1 cost about $100 a year more to insure than mine.

Anyway, $1315 for the year and I am a very happy camper, give them a call quotes are free and they are very helpful. You can ask for Luke as he is familar with sport bikes.
 

·
Registered
Joined
·
1,489 Posts
Almost40 said:
I purchased my 955i insurance though Megson Fitzpatrick. The total cost, including the ICBC basic, was $914 . This includes 7 months of on-road insurance, comprehensive, theft and collision to $17500, 5 month storage insurance and trailer insurance. What a deal!

By the way, there won’t insure my R1.
Why wouldn't they insure your R1? they insured both mine and Jody's R1.
 

·
Just Another Enthusiast
Joined
·
2,051 Posts
Discussion Starter #12
That is good to hear digi. I got a phone call from Megson, and I have been approved. I will post details of my coverage when I get it, just to add to our insurance database. :)
 

·
K1200S
Joined
·
255 Posts
Digi168 said:


Why wouldn't they insure your R1? they insured both mine and Jody's R1.
It was about two years ago that I inquired about R1 insurance. At that time they said the R1 is a high risk motorcycle - like all Japanese sportbikes. They did however insure my 955i. I guess they considered the 955i an "old man's" sportbike.

Since my R1 is a track bike now, I only buy storage insurance on it now.
 

·
Registered
Joined
·
417 Posts
Digi168 said:
With Meagson Fitzpatrick

Basic coverage $816 (have to get from the ICBC)
Full optional cover $499, thats right less than $500 for full coverage upto $18000 for my bike, helmet, and gear.

So total cost with MF $1315 for a savings of $687.
Hi Digi, how much collision and comprehensive deductible is it for your private insurance ?

I got a quote from them also, and they mentioned the only deductible option is $1000/$1000 for that kind of bike (errr...) and it's $390 for me with a declare value of $9000.

I just want to double check and dont want them to screw me up since they were remote.

Thanks
 

·
Registered
Joined
·
1,489 Posts
xenz said:

Hi Digi, how much collision and comprehensive deductible is it for your private insurance ?

I got a quote from them also, and they mentioned the only deductible option is $1000/$1000 for that kind of bike (errr...) and it's $390 for me with a declare value of $9000.

I just want to double check and dont want them to screw me up since they were remote.

Thanks
The deductable is $1000, and my declared value is $17999.

There brackets are done in $2000 increments so you should see what the highest coverage you can get before the next bracket. if you are paying $390 for 9000 and you can get 9999 for the same price might as well.
 

·
Premium Member
Joined
·
20 Posts
I just found out this morning that Coast Capital Savings is offering a new insurance area for motorcycles. I'm not sure if it will be available on the mainland branches right away, but if you were to call and ask, you may find it very reasonable. They will cover similar things to FitzPatrick in that you will have full replacement value, accessories and such covered. Call one of the Island branches if the mainland knows nothing about it. Numbers can be found at www.coastcapitalsavings.com
 

·
Registered
Joined
·
417 Posts
Digi168 said:
The deductable is $1000, and my declared value is $17999.
Sorry to be picky, but did you mean
1) collision + comprehensive = $1000 (ie $500/$500) or
2) collision=$1000 and comp=$1000 ?


There brackets are done in $2000 increments so you should see what the highest coverage you can get before the next bracket. if you are paying $390 for 9000 and you can get 9999 for the same price might as well.
Good tip, for that price I wouldn't mind going up to $11999 for just-in-case purpose. I shall check with Coastal Insurance as suggested by Absolutedm, see who got a better price :)
 

·
Registered
Joined
·
842 Posts
Why do you guys get collision? If the bike's a write off, chances are that's the least of your worries as you'll be in traction or dead.

If it's your fault, then your premiums go up so much that it's cheaper in some cases, in the long run to not claim and take the loss or fix it yourself, or part it out.

My 85 900 Ninja had about $1000 worth of damage on it (in 1986), I did as much work on it myself as I could and the $500 I saved on repairs and not claiming it more than offset the amount of $$$ it would of cost in jacked up premiums for the next few years.

Collision insurance on a bike is just not cost effective. It also makes you stay focused when you are riding. Knowing that you will pay the cost for fixing it turns you into a good rider.
 

·
Registered
Joined
·
1,489 Posts
Dirtybill said:
Why do you guys get collision? If the bike's a write off, chances are that's the least of your worries as you'll be in traction or dead.

If it's your fault, then your premiums go up so much that it's cheaper in some cases, in the long run to not claim and take the loss or fix it yourself, or part it out.

My 85 900 Ninja had about $1000 worth of damage on it (in 1986), I did as much work on it myself as I could and the $500 I saved on repairs and not claiming it more than offset the amount of $$$ it would of cost in jacked up premiums for the next few years.

Collision insurance on a bike is just not cost effective. It also makes you stay focused when you are riding. Knowing that you will pay the cost for fixing it turns you into a good rider.
that is why you insure with a third party with a $1000 deductible, and hope that you don't have to use it. $499 a year for collision & comp is worth it, $1315 a year from ICBC is not. You would pay more than $499 from ICBC for comp coverage anyway.

My bike is a 2002, and owned by me and the bank so I don't have much choice in the matter. If it was an older like your 85 ninja I wouldn't bother with anything more than basic insurance.
 

·
Registered
Joined
·
842 Posts
31 years of street riding. Over 35 bikes owned. Collision insurance on none of them. The Ninja was 1 week old when I pranged it:rolleyes

For a $1000 deductible why bother? You're all ready into it for a grand, then you lose your safe driver's discount on top of that, so figure you'll be paying at least another 1000 for insurance in lost safety discounts, and if I understand the ICBC system, you not only lose the discount but have to pay a surcharge.

If my RC sustains heavy damage, it'll become a street fighter.
 
1 - 20 of 23 Posts
Top