BlueLIGHTning
Expert Class
Posts: 227
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posted November 10, 2006 02:00 PM
McBride's Cycle bites the dust!!
McBride's Cycle in toronto, the oldest dealership in Canada if i'm correct (100 yrs plus), has gone under. Sad to see it gone since I bought 5 of my bikes there. The insurance for new riders in the toronto area has become highway robbery. New riders or riders under 25 yrs of age can expect to pay $6000 or more to insure their bikes. I've heard dealers complain about insurance for some riders being more than the cost of a new bike. Sad considering we can't even ride the whole year up here. Insurance companies make the money you pay for your policy ran between May to September so even if you were to cancel your insurance after you put your bike away, you get no refund. I know some other dealers our hurting to here hope this is not a new trend starting!!
  
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KAWABUSAKID
Expert Class
Fast as my $$ will take me
Posts: 292
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posted November 10, 2006 03:42 PM
they dictate....they know you have to have it!!....i guess the only thing i can tell you to try ,is get together will all the bike organizations in canada and lobby for legislature changes..sorry to hear that shit
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Bently
Needs a life
2012 14r In Blue and no Mods!
Posts: 5428
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posted November 10, 2006 04:38 PM
Insurance is nothing but a rip off in IMO, you pay for yrs then all of a sudden have a claim and they try screwing you anyway they can.
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lizard
Pro
Modulator
Posts: 1483
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posted November 10, 2006 04:49 PM
I guess the other dealers in the center of the universe will have to pick up the slack.
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CrotchRocket
Moderator
Bracket Racing with Betsy
Posts: 8038
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posted November 11, 2006 06:16 AM
Yep, all scams!!!
After 9-11, the insurance companies were all scared!!!...The owner of both World Trade center Towers had seperate policies for each tower...He expected to collect on them but only got $$$ from one policy=one tower!!!...The insurence companies stated that it was one incident so that they wouldn't have to pay out double $$$...Owner of the towers says 2 towers=2 policies, 2 planes hit 2 towers!!!...Judge says, 1 incident...
Then all the $$$ & policies payed out to all the people who died in the towers!!!...The insurance companies were crying, who thought that would ever happen and paying out billions of dollars in such a short time!!!
When you buy policies now, you better ask what the restrictions are and get them in writing!!!...Things are different now since 9-11......Remember insurance companies are in it to make $$$...
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Jason Miller StreetBike Seminars
*****DragRacers do it better, because they dont cut Corners*****
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xtro
Expert Class
Posts: 112
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posted November 11, 2006 09:40 AM
well that's yet another reason i'll never live in Ont. again ..
i'd say move out west but most of you already did ... $560/yr full cover on my 14 ... just not collision .. even with that it only goes to $1100 ... ut if I collide .. not sure i'd need it .. so $560 it is ... theft . peril .. you get it ..
man .. I guess since you buy your gas offshore ( what .. our own gas not good enough ?? lol .. but you'll eat all our beef .. :-) and pay like 30% less in fuel costs.. maybe it all evens out ..
ahh ... the centre of the universe .. lol
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frEEk
Administrator
ummm... yeah
Posts: 9660
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posted November 11, 2006 02:22 PM
BlueLIGHTning, would i be correct to assume the vast majority fo that $6000 is theft? i know out here theft along is more $ than the basic liability coverage (on a new bike at least). i've simply never bought theft or collision. keeps things reasonable at about $100 a month. of course i'm in a low to no theft area, and i never intended to colelct on collision anyway cause being a recreational vehicle i figure if i crash it, it's my problem.anyway, if theft is a big issue in T.O. (i imagine it is) i'd consider going the lojack route, or using some other tracking system, and recovering your bike instead of just insuring it.
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fastestbusaaround
Needs a life
I eat Fish...
Posts: 7889
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posted November 11, 2006 02:53 PM
quote:
well that's yet another reason i'll never live in Ont. again ..
i'd say move out west but most of you already did ... $560/yr full cover on my 14 ... just not collision .. even with that it only goes to $1100 ... ut if I collide .. not sure i'd need it .. so $560 it is ... theft . peril .. you get it ..
man .. I guess since you buy your gas offshore ( what .. our own gas not good enough ?? lol .. but you'll eat all our beef .. :-) and pay like 30% less in fuel costs.. maybe it all evens out ..
ahh ... the centre of the universe .. lol
Oh yeah...that's a good reason not to live in Ontario... 
BTW. full coverage includes collision... 
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FYYFF!!!
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Bently
Needs a life
2012 14r In Blue and no Mods!
Posts: 5428
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posted November 11, 2006 04:55 PM
I also thought full coverage came with collision.
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BlueLIGHTning
Expert Class
Posts: 227
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posted November 12, 2006 06:34 PM
Nah freek it's just what they charge for basic insurance here. I mean I can't complain I'm paying $1100 and change for full coverage for my 14 yet last year i paid $2800 for my GSXR1000 with 26 yrs of riding experience. Insurance in toronto is plain and simple robbery even though i live an hour away from the city in a small town of 14,000 people. Not sure why i'm paying this little, the only thing i can think of is that they classify the 14 as a sports tourer like the FJ1300. Be it motorcycles or cars, if under 25 here, expect $6000 or higher and if your around 18 or 19 closer to $10,000 for your 600 sportbike. Since most sportbikes are sold to a younger crowd dealers here are getting hammered. OH and i have no claims and a clean record knock on wood!!! The government told us last election they where goin to crack down on insurance companies of course they got elected did shit. Two years ago insurance companies here had 800% profit and last year it was around 130%. Go to traffic court and more than half of the people there are for driving with no insurance. A work aquaintance had 3 seat belt tickets last year and he got his insurance renewal for this year which they wanted $12,000.00. Yup and its only here in good ole ontario so it seems.
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frEEk
Administrator
ummm... yeah
Posts: 9660
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posted November 14, 2006 11:19 AM
ho-lee-crapp. that's just plain rediculous. and i thought we were getting screwed in BC...
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blueford
Needs a job
Posts: 2984
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posted November 14, 2006 04:17 PM
Well, you Caned-nuts wanted socialism, enjoy it 
You see in the socialist system, anything outside the greater good of all of society is to be discouraged by the government, taxed or other methods are used to social engineer your wild side.
Here in the land of the free, we prize rugged individualism!!!
I'm honored every day.
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stephane
Parking Attendant
Posts: 28
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posted November 14, 2006 04:28 PM
In NB , State Farm seems to be the cheapest for insurance. But you have to switch your car over also.
Steph
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stevewfl
Moderator
Posts: 27920
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posted November 14, 2006 06:46 PM
quote:
In NB , State Farm seems to be the cheapest for insurance. But you have to switch your car over also.
Steph
Same with FL, State Farm was the cheapest I found. Here though one must have a car and a CLEAN driving record. Of course I ride my bike so absolutely safe I get a discount. And everyone that has ever ridden with can verify 
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2010 Concours14
'08 R1 YAMAHA
ZX14 gone!
CBR600RR track bike
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Bently
Needs a life
2012 14r In Blue and no Mods!
Posts: 5428
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posted November 14, 2006 07:43 PM
+1 I have state farm as well, very good rates.
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BlueLIGHTning
Expert Class
Posts: 227
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posted November 16, 2006 12:37 PM
State farm was cheaper on my bike but by the time they jacked up my car and truck insurance to get my bike insured there I really wasn't saving much. Clean record and always ride my bike at the speed limit or below!! LOL
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stephane
Parking Attendant
Posts: 28
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posted November 16, 2006 04:41 PM
Yeah, I imagine after owning this bike for a short while, my insurance is sure to go up in the near future. LOL
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BlueLIGHTning
Expert Class
Posts: 227
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posted November 19, 2006 08:23 AM
Wow another dealership in north west of toronto goes under. Brampton Cycle is gone too and had been in business for about 25 years. Again very low sportbike sales and why damn insurance rate for young riders.
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