Canadian Insurance Rates Close Motorcycle Dealer

[mrich12000]

Gray power

Called today don't know if I will use them as for the Dalton Group Michell who is in the Burlington office is very nice to deal with great rates as well . and I don't work there.

 

[RIDERR1150GSADV]

Insurance companies? Just think of all the poor folks in Louisiana who got crapped on when the Insurance Companies refused to pay out when their houses got flooded. It seems that the levees giving way does not meet the definition as a flood! And why do they tie your credit score to your insurance rate? To wrangle more money from you! And why do some refuse to pay your medical bills and single out riders who are injured in a motorcycle crash. It's all about the MONEY.

+1!

In Florida it is almost impossible to find insurance (depending on county)unless you go to the State. My roommate, who owns the house, got quoted $ 20K a year for windstorm insurance.
Needless to repeat what he told the broker.....

 

[osbornk]

Insurance companies? Just think of all the poor folks in Louisana who got crapped on when the Insurance Companies refused to pay out when their houses got flooded. It seems that the levees giving way does not meet the definition as a flood! And why do they tie your credit score to your insurance rate? To wrangle more money from you! And why do some refuse to pay your medical bills and single out riders who are injured in a motorcycle crash. It's all about the MONEY.

I worked as an insurance adjuster for 31+ years before I retired and I disagree with much of the stuff they do (it has gotten a lot worse and I don't think I could do some of the stuff they do now). However, not everything they do is wrong and the denials for flood damage in Lousiana is one they got right. The policy excludes surface water (which includes flood). Surface water is water that has reached the ground. If surface water was covered, everyone who has insurance would pay far higher premiums to pay for the flood damages to the people who elected to live in flood prone areas. Why should 98% of the people pay a higher premium so 2% of the people can be protected against their unwise choice of where they want to live? National Flood Insurance is sold by the government at a great loss because the cost would be unaffordable if it were priced high enough to cover the losses.

I don't fully agree with the use of your credit score to help determine insurance rates but I can understand it. I handled fraud claims for years and the connection between credit history and suspicious insurance claims was amazing. When I got a questionable fire or theft, the policyholder frequently had a poor credit history. A poor credit history increases the moral hazard (burned it down to collect the insurance, have a "friend" steal your car or claim stuff stolen that wasn't) and the morale hazard (it's insured so why be careful or bother--leave keys in car and/or unlocked, don't try to put out an accidental fire or delay calling the fire department, etc.)

When credit based ratings started in Virginia, it was claimed that it would not increase revenue to the insurance companies but would adjust the premiums based on the exposure to loss. An insurance agent friend suggested that I and a friend of mine have our homeowners policy re-rated when it came due based on our credit score and claims history. We did as he suggested when we got our premium notices and we each saw a $300 drop in our premium. I guess whether you like rates based on your credit score depends on what your credit score is.

 

[bubbagazoo]

My wife and I saved about $1000 a year on insurance switching from Primmum to Dalton Timmis for the same coverage. DT are good people to deal with, I think. I have never had a claim,

Guess who my bike insurance was with last year

When I told Primmum that I could save $300-400 for the exact same coverage, the young lady on the other end of the phone acknowledged that their rates were much higher than others but until the people who set the premiums came up with new ones, their rate was their rate. It has come down according to their online quote system. We shall see how they compare with Jevco come February when my policy is up for renewal.

 

[globalrider]

When I told Primmum that I could save $300-400 for the exact same coverage...

I've been with Primmum since their first days when they were Canada Life Casualty, maybe15 years, but I too had to switch due to their higher rates.