I normally don’t remember provincial politicians, but Bob Rae was famous for his landslide victory in Ontario during the eighties. His win was based partly on the other guys really messing up and partly on some very intriguing promises—such as the one that would stabilize vehicular insurance prices once and for all. He promised us state insurance, but didn’t follow through. At the time I voted for Bob Rae, I paid approximately $200 for public liability insurance for my motorcycles.
After Rae was elected Ontario motorists were the recipients of some kind of No-Fault insurance, which meant that in the event of an accident both parties were considered equally at fault and no one could sue for damages. It was a real gift to the insurance companies. Their profits went up, as did our rates. Within a few short years my PLPD went from $200 to $400 to $600. Oh yes, I remember Bob Rae.

Strangely though, the cost of my insurance stabilized at $600 per year and even went slightly down for bit. I’m currently paying $630 a year with Primmum—a company that insures many motorcycles and was willing to write a policy for me at a time when I had only a motorcycle to insure. They say I’ve been with them since 1998.

For years before that I was with Kingsway or Jevco, the only companies that would insure a bike only. I was told that Jevco has been around since 1979, and between then and the nineties they had insured 60 per cent of all motorcycles in Ontario.
We are obligated to carry insurance, yet the government doesn’t guarantee its availability. How do you feel when an agent tells you the company policy is not to insure sportbikes, or whatever it is that you ride, or that the cost will be prohibitive? These days there’s really no break on insuring more than one bike, either.

Recently, I made some inquiries. It’s not that I’m unhappy with Primmum. As far as my motorcycle is concerned, all I’ve ever done is send them money, so really, I have no comment as to how well they would respond if ever I had an accident. However, my house is also insured with Primmum. I bought it a year after 9/11 and could barely get a return call from any insurance companies at that time. It seemed that they had all lost so much money in New York that they didn’t want to insure anything they deemed too risky—such as a property in, what was then, just another rough neighbourhood in the GTA.

I was running out of time and just couldn’t find an insurer willing to take the plunge, but then Primmum agreed to add house insurance to my account, and charged me only $10 a month more than I was quoted by two other companies who failed thereafter to return my calls.

So, I made some calls, contacting companies whose brochures I’d picked up at a bike show in January. I asked for quotes on my 1987 BMW R80 G/S, for public liability with $1 million coverage, and then for full coverage with $500 deductible.

I also asked for quotes on my 1968 500 Triumph and my 1974 850 Norton, both of which I’d like to put back on the road next year. And then I threw in one for good measure. What if I decided to buy a 2007 version of the BMW K1200R, a bike I rode in Europe this past summer? I’ve been hearing so much about people not being able to afford the insurance on new bikes. I’ve also heard that many companies won’t insure a bike more than 25 years old, which Casper’s getting close to being. By some luck I have a clean driving record and have been insured riding motorcycles for more than 25 years. Insurers call that a seven-star rating. The results of my inquiries follow.

Primmum

After I provide an appraisal (between $200 and $400) the cost of basic insurance for my 1987 BMW would be $630, or $1,127 for full coverage. The two vintage bikes are older than 25 years so Primmum won’t insure them.The K1200R, if it’s used as a second bike, would be $2,571. But if I swapped motorcycles and it was my only bike, the cost would be $1,248 for full coverage. This I thought was strange. Full coverage on a bike valued at around $20,000 is only $100 more than on my ’87 Beemer?

John Duffy Insurance

I learned from JDI that my R80 is officially only 798 ccs. PLPD on the ‘87 BMW is $596, add another $416 for full coverage. Insurance for the 1968 Triumph would be $505 and $596 for the 1974 Norton, underwritten by Jevco. A new K 1200 R was not in their “superbike” category (can’t imagine why not) and full coverage would be $1,227, which sounds reasonable.
Riders Plus

I was outraged when a representative from Riders Plus—which claims to be the largest motorcycle brokerage in Ontario—said they wouldn’t insure the K1200R because it’s a sportbike. Riders Plus also doesn’t insure older bikes. But my 1987 BMW is valued at $4,400 in their book and would cost only $605 for full coverage. Hmm. Outrage turns to ... what? So far, Riders Plus is the best deal by more than $400. I could have full coverage for the same price that I have been paying for liability only.
Dalton Insurance

Here’s a name well known among vintage folk because last spring the company began insuring older models. With Dalton, basic insurance for my 1987 BMW would be $596 (if appraised) and $1,312 for full coverage. The K1200R, with a whopping $2,500 deductible, would be $3,546—which is more along the line of what I’d expected. When I bought my brand new 1987 BMW, I paid just under $10,000, including tax. Full coverage insurance was so much back then that if I paid it for four years I’d have paid for the bike again. Needless to say, the only time I have ever had full coverage on that bike was when she was brand spanking new. Ever since then, I’ve taken my chances. To insure the British bikes, if they were appraised at $5,000, would cost $383 for the Triumph, and $362 for the Norton. By the way, these would be insured more as special occasion bikes than as main rides, and could be ridden only by holders of a full M licence for more than three years and who are also over 30. What would these prices be if I had even one ticket on my record? What if I’d had an accident? Thanks to Bob Rae (still current in the political scene, though now Liberal) we now have expensive low coverage insurance. Is it really cheaper in BC?

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