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Old 04-17-2006, 11:49 AM   #21
acecycleins
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Default Re: A Sign of Things to Come?

I didn't qualify it by saying sport bike were a loss leader. I said motorcycle insurance as a whole is a loss leader. Because we as motorcyclist don't out-number auto owner (or even boats owners) the insurance industry under prices certain bikes. Sportbikes are the worst to insure because they are the easiest to total in an adjusters calims numbers. Once a bike becomes a 72% loss of total value the insurance company will just total it and write off the balance. Passing the premium increases off to the customer. So stick with nekked bikes and the prices are low.
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Old 04-17-2006, 11:57 AM   #22
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Default Re: A Sign of Things to Come?

After about 10 squintillion years in the insurance business: I'm eagerly looking forward to NOT being one of "them".



Having said that, P & C side of the business (would include this target market) ain't got that great o' margins.
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Old 04-17-2006, 12:16 PM   #23
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Default Re: A Sign of Things to Come?

Last year, my wife and I toured the Canadian maritime provinces for 2 weeks. Total out of pocket for lodging, fuel, tolls, ferry's, food, and gifts, which were mailed home at a premium, was approximately $4,000. Multiply that by the hundred of thousands who I road with or past, many of which were sportbikes just cruising along with soft luggage, and consider the huge motorcycle revenues that Canadian business and government will place in jeopardy, should a shortsighted and prejudicial effort be made to penalize motorcyclists with unjustified restrictions and/or premiums. I'd be happy to see an AMA campaign to embargo Canada as a destination, if that's what it takes. This is about strength in being united, not about hurling arguments at each other within the brotherhood. Watch how quickly these incipid little numbers crunchers and their governmental lackies will fold when the tourists stop coming!
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Old 04-17-2006, 12:30 PM   #24
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Default Re: A Sign of Things to Come?

That's what I was saying. You managed to use less space than me.
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Old 04-17-2006, 12:50 PM   #25
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Default Re: A Sign of Things to Come?

Quebec has two coverages: no fault and private. Basically, when you pay your registration, you're paying for the no fault. The no fault covers the medical stuff, basically injury to the rider. Last time I lived in Quebec (2001), a plate was about $320 a year. The rate is set by the provincial government. This is probably what the guy in the article is referring to.



Then there is private insurance, and that covers loss or damage to the motorcycle. That rate is set by the private insurance companies.



The no fault is about the worst idea I've ever seen. I had a buddy who had just graduated with an engineering degree and had a job with Pratt & Witney. Coming home one night on the highway a cager decided to make an illegal u-turn on one of those cross overs where cops hide and radar gun. She hit my buddy, knocked him across the median into the oncoming lanes where he was run over by a van. Broke his pelvis, both legs, his head, lost an eye, and lost lots and lots of skin. It took him a few dozen surgeries to get back on his feet, and he's still got a lot of problems he's recovering from 10 years later. His knee is still held together by various pieces of metal, he's developed a tolerance to most pain killers available, and has become a full blown diabetic.



No fault decided this was worth $1200 a month. No appeal, no review.
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Old 04-17-2006, 12:59 PM   #26
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Default Re: A Sign of Things to Come?

I live in Quebec. The person in question is a government worker that runs our equivalent of a department of motor vehicles. The SAAQ (Société d'Assurance Automobile du Quebec) issues our driving licences and registers all vehicles. It also runs all liability insurance in our no fault system (you can not sue someone over an accident, obviously criminal issues are seperate). The insurance is payed through our registration fees (currently 326 $CAN/year for a motorcycle). This is insurance on people, not on the bike itself which must be insured seperately by a private company.



The fuss began when the SAAQ started claiming that bikes were causing it to lose money because of the higher rate of accident (and especially injury, because this is liability and injury insurance, not vehicle insurance). Note that they are also calling for higher rates for small cars as they claim passengers are more likely to be injured than if in big cars.



They therefore asked the government to double the rates for non-sportbikes (only Quebec's parliament has the power to change the rates) and to raise them to over 1000 $/year for sportbikes (1300 $/year for sportbikes over 700 cc). As of yet the government has not made a decision, but public opinion is getting ugly in some quarters.



Fortunately for me my Vulcan 500 will remain in the lowest price bracket (less thasn 700 cc, not a sportbike).



The request to ban sportbikes is just the latest excess of this highly placed bureacrat.



They are not clear on what qualifies as a sport bike. Apparently they have a list, but no objective criteria. Sportbikes are supposed to include only 11 % of the bikes currently on the street, so I am guessing the list is mostly of race-replicas and not the more moderate sportbikes and sporty standards, but I'm not sure.



I'll see if I can find the list.



Rant on!
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Old 04-17-2006, 01:34 PM   #27
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Default Re: A Sign of Things to Come?

I for one think that it is absurd for neally all the MC companies to continue to flood the market with bikes that are designed for track use but in fact many are bought by young and inexperienced riders who ride them on the street. We have heard too many stories that these people crash when they ride at speed > 100MPH. When should this stop? Do we have any sense of what is absurd and excessive and what is real fun that is good for everyone? I just hope that you can sleep well if some day your teen child asks you for the money to buy a super bike with 500 hp and can do 0-60 in 1 sec.



I pay a total of $35 full ocver a year for a 250cc Rebel but my insurance for a 250cc Ninja is three times of that. I am paying more in insurance because of other people's mistakes. This is just unfair.
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Old 04-17-2006, 01:50 PM   #28
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Default Re: A Sign of Things to Come?

"I pay a total of $35 full ocver a year for a 250cc Rebel but my insurance for a 250cc Ninja is three times of that. I am paying more in insurance because of other people's mistakes. This is just unfair. "





That is Just Life. Sorry to sound so callous, but you must remember that you are not alone out there. The few CAN ruin it for the many.



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Old 04-17-2006, 01:53 PM   #29
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Default Re: A Sign of Things to Come?

My father has been in the insurance industry for the last 30 years, and currently works in PQ.



This is complete and total BS. Insurance companies are 'losing money' (or so they claim) because they are trying to gouge customers at every opportunity, and are thus losing business left-right and centre. Despite their ineptitude, the private companies are doing very, very well in profits. In 2005, the Canadian insurance companies recorded profits in the 4.2 billion dollar range - hardly struggling, in fact it was a record high despite the controversy over raising rates to compensate for 'low profits'. Most Canadians, myself included, simply get basic PLPD coverage (the only coverage I can afford, 900$ a year for my SV650 - and I have a clean record and MSF course) and pay for any incidents out of pocket. I cannot afford to insure a car, period. It would cost me at least 5000$ per year for PLPD - that's no fire, no theft, and no collision coverage.



http://www.cbc.ca/news/background/insurance/



This fellow is talking out of his a**. He's just a blatant anti-biker who happened to get the ear of the media and started ranting about banning this and that to solve a problem that doesn't exist.
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Old 04-17-2006, 02:01 PM   #30
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Default Re: A Sign of Things to Come?

So, there is no effort at education for Motorcyclists or the Publik At Large?



The Queen's own England has programs (and effective ones, so I've read!) aimed at making the streets safer for Motorcyclists over there in Blighty - sad (Nay! Despicable!) this Continent lacks anything but Bureaucrats busy trying to (poorly) Engineer around a People Problem.



-Scott

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Oderint Dum Metuant
Let them hate so long as they fear
политики предпочитают безоружных крестьян
Politicians Prefer Unarmed Peasants
Nothing to see here, Citizen. Move along now...
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