An Affordable option to ICBC for all you BCers

[SilvrT]

I just got the figures from ICBC for my insurance coverage on the scoot and full coverage with $1,000 deductible and max discount will run me $2,038 for the full year.

 

Not being satisfied with that, I did some poking around because I knew that somewhere I should be able to get private insurance beyond the basic ICBC 200,000 PL&PD.

 

I found that I can get it from Coast Capital.

 

Quote Summary:

 

$455.00 ..... Annual Premium

$12,500 ..... Declared value of the bike

$500 ..... Declared value for riding gear

$400 ..... Declared value for helmets

$1 million Third party liability

$1,000 ..... Deductible

$40.57 ..... Monthly payment

 

 

 

This is for Collision, Comprehensive, and 3rd party liability to 1 million.

 

The policy also includes Travel Protection (if your bike is stolen or you are involved in accident away from home), Emergency Service Expense, and Lock Re-keying (if keys are stolen).

 

Additionally, if you only insure with ICBC for 6 month's, the Coast Capital becomes a "storage policy" with the exception of the liability which would not apply once the ICBC policy expires.

 

This is a substantial savings and I will definately be getting my extended insurance from them.

[mabeline]

And I was whining at $ 784 for full coverage threw co-operators, here in Alberta. 1000000 liability, 500 deductable. How much is PL&PD for you? For me it's $79. Collision + comprehensive are high.

 

Conrad

[Guest rande]

the ICBC for basic coverage which would be on top of the Coast Capital? Looks like it may be worth switching...

[Rocket]

the ICBC for basic coverage which would be on top of the Coast Capital? Looks like it may be worth switching...

 

About $850. after a 43% Discount, for the full year of basic coverage, at least that it was, 3 yrs ago.

 

Rates will vary, depending on area of use. Not sure how it would be in your case, with you living on the island & working on the mainland.

[Oldslow]

And I was whining at $ 784 for full coverage threw co-operators, here in Alberta. 1000000 liability, 500 deductable. How much is PL&PD for you? For me it's $79. Collision + comprehensive are high.

 

Conrad

 

Ask a broker about Jevco...$644 for me here in Calgary.

[Tom]

And I have been whining about paying $254.00 Annually....I will clean up the tears nows.

[SilvrT]

the ICBC for basic coverage which would be on top of the Coast Capital? Looks like it may be worth switching...

 

Yes, you need to buy ICBC basic coverage first and then the extra from Coast Capital.

 

My basic coverage from ICBC is $865

My extra coverage from ICBC is $1173

Total $2038

 

My extra coverage from Coast Capital would be $455

Total $1320

 

Savings = $718 over the year!

[Aimhigh]

And I have been whining about paying $254.00 Annually....I will clean up the tears nows.

 

 

Hang in there, Tom...before long we will probably be "enjoying" rates such as our friends to the north!

[friesman]

Yes, you need to buy ICBC basic coverage first and then the extra from Coast Capital.

 

My basic coverage from ICBC is $865

My extra coverage from ICBC is $1173

Total $2038

 

My extra coverage from Coast Capital would be $455

Total $1320

 

Savings = $718 over the year!

Rick, I had no idea your rates in BC were so high, I was complaining about mine a while back.....I will shut up now.....

 

Brian

[SilvrT]

Got a "tip" from an Insurance agent to check out Megson Fitzpatrick Insurance in Victoria, BC. They are a broker who specializes in M/C insurance and I found I can save an additional $109 bucks a year (so that's now $827 savings over ICBC rates). Hot Dang!!

 

 

This is crazy that my savings for a year is more than many of you guys pay for a year LOL

[mabeline]

Ask a broker about Jevco...$644 for me here in Calgary.

 

Thanks Old&slow I kind a forgot about this thread. I went to Jevco and they saved me $140.

[saddlebum]

Ok I am confused I was under the impression, that in BC you had no choice, that all vehicale insurance was through the BC provincial goverment

[StuD]

Ok I am confused I was under the impression, that in BC you had no choice, that all vehicale insurance was through the BC provincial goverment

 

The basic PL & PD are ICBC government mandatory Insurance. Optional Insurance can be done through private companies. :canada::canada:

[sarges46]

Unfourtunatly we cant get private coverage at all. Cages can but not M/C's. Got to get out of this province!

[fordpol]

Another option is Beacon Insurance a Salmon Arm company! They provide an excellent coverage at a great rate. Cover a lot of extras for no extra cost for example riding gear motel and meals if bike is stolen while out of town etc etc! My Venture $23,000 coverage $525 a year wifes Shadow $325 a year for $10,000. Must be insurance claim free for 2 years no more than 2 speeding tickets in last 3 years to qualify for these rates. just an other option! Ken!

[SilvrT]

Another option is Beacon Insurance a Salmon Arm company! They provide an excellent coverage at a great rate. Cover a lot of extras for no extra cost for example riding gear motel and meals if bike is stolen while out of town etc etc! My Venture $23,000 coverage $525 a year wifes Shadow $325 a year for $10,000. Must be insurance claim free for 2 years no more than 2 speeding tickets in last 3 years to qualify for these rates. just an other option! Ken!

 

FYI, the Salmon Arm co is a broker just like all the others. My broker is Megson Fitzpatrick but the actual insurance company is Intact Ins Co. Thru them (and it was also applicable if I'd gone thru Coast Capital) I get all those extras too.

 

My rates for a year are...

 

ICBC 3rd party liability = $988

Intact (collision, comprehensive, etc) = $392

 

Mind you, I only insure my scoot for $16k and the above figures are inclusive of finance charges as I pay monthly.

[friesman]

FYI, the Salmon Arm co is a broker just like all the others. My broker is Megson Fitzpatrick but the actual insurance company is Intact Ins Co. Thru them (and it was also applicable if I'd gone thru Coast Capital) I get all those extras too.

 

My rates for a year are...

 

ICBC 3rd party liability = $988

Intact (collision, comprehensive, etc) = $392

 

Mind you, I only insure my scoot for $16k and the above figures are inclusive of finance charges as I pay monthly.

 

Hey Rick, do u insure for the whole year or do you get storage insurance for the 2 or 3 months that you dont ride?

I have found that I can get storage insurance for the whole year for 58 bux for about 6k replacement coverage and then pull my road coverage whenever the weather doesnt allow me to ride.

In the last 12 months there was only 3 that I didnt ride , but it was still cheaper as my monthly charges are about 70 bux a month for collision and liability.

 

Brian

[SilvrT]

Hey Rick, do u insure for the whole year or do you get storage insurance for the 2 or 3 months that you dont ride?

I have found that I can get storage insurance for the whole year for 58 bux for about 6k replacement coverage and then pull my road coverage whenever the weather doesnt allow me to ride.

In the last 12 months there was only 3 that I didnt ride , but it was still cheaper as my monthly charges are about 70 bux a month for collision and liability.

 

Brian

 

I insure thru ICBC for 6 months. The private coverage is for the whole year and automatically reverts to storage coverage when the govn't ins expires.

 

As for the "2 or 3 months I don't ride" ... you got to be kidding? Me... a "fair weather rider"??? The bike sits for the majority of the 6 month's that it's not insured and when we have the occasional "fair weather weekend" I get a one day permit. Not worth the extra bucks to keep the liability coverage.

 

My liability coverage ends Oct 1st. We may get a few nice weekends in Oct but generally not much after that until maybe Feb when we might get a couple again.

 

Difference between this area and yours is, although a little cooler, you get a lot more clear days whereas we get rain, rain, rain and oftentimes it happens on the weekend which is the only time I am not working.

 

I put the ins on as of Apr 1st this year (normally I wait until the 15th) coz we had some nice days in March so I figured Apr would be ok... HA! We've had lousier weather most of April than we had thru the winter. I got to ride two days all of Apr. I guess there were a couple other times I could have taken a short ride but the weather was borderline and I did have other things I was doing.

 

Now, May started out really crappy but it's turning around now and this coming weekend looks pretty good so we'll be out riding Saturday for sure but Sunday is Mother's day and Nina's mom is here visiting from Biggar so we're gonna take her out for brekkie and a nice drive ... then it's back home for a BBQ dinner of RiksRibs! mmmmmmmmmmmmmm

[Celt]

Great info there Rick . i was using Beacon, around $550 for the year ,used that til aug last year . nothing since but basic icbc (). i also only insure for 6 months ,on all my vehicles. Truck oct-march, Triumph feb-july and Yami may-oct (probably start this weekend) .will look into Megson Fitzpatrick tho.

[SilvrT]

Great info there Rick . i was using Beacon, around $550 for the year ,used that til aug last year . nothing since but basic icbc (). i also only insure for 6 months ,on all my vehicles. Truck oct-march, Triumph feb-july and Yami may-oct (probably start this weekend) .will look into Megson Fitzpatrick tho.

 

I don't think you can get the ins from Megson for less than a year ... at least not on the payment plan and I'm pretty sure not even if you pay it in full up front.

 

check it out tho. Coast Capital was $100 + higher so getting close to what you paid thru Beacon.

[birin]

Available in BC competing with M&F from Vancouver ISland

 

15000 agreed value

Riding gear 1000

Road Side 100

Rekeying 500

Deductible 500

 

 

Annual premium - $390 for non basic (as per details above)

ICBC basic premium 864

Total 1255 to ride for our short summer season

 

 

 

 

 

 

 

 

 

 

 

 

 

I just got the figures from ICBC for my insurance coverage on the scoot and full coverage with $1,000 deductible and max discount will run me $2,038 for the full year.

 

Not being satisfied with that, I did some poking around because I knew that somewhere I should be able to get private insurance beyond the basic ICBC 200,000 PL&PD.

 

I found that I can get it from Coast Capital.

 

Quote Summary:

 

$455.00 ..... Annual Premium

$12,500 ..... Declared value of the bike

$500 ..... Declared value for riding gear

$400 ..... Declared value for helmets

$1 million Third party liability

$1,000 ..... Deductible

$40.57 ..... Monthly payment

 

 

 

This is for Collision, Comprehensive, and 3rd party liability to 1 million.

 

The policy also includes Travel Protection (if your bike is stolen or you are involved in accident away from home), Emergency Service Expense, and Lock Re-keying (if keys are stolen).

 

Additionally, if you only insure with ICBC for 6 month's, the Coast Capital becomes a "storage policy" with the exception of the liability which would not apply once the ICBC policy expires.

 

 

This is a substantial savings and I will definately be getting my extended insurance from them.

[SilvrT]

Available in BC competing with M&F from Vancouver ISland

 

15000 agreed value

Riding gear 1000

Road Side 100

Rekeying 500

Deductible 500

 

 

Annual premium - $390 for non basic (as per details above)

ICBC basic premium 864

Total 1255 to ride for our short summer season

 

nope, hadn't heard of them... I got info about M&F from another insurance office.

 

I'm a little off on the ICBC rate I showed above ($988) as I was taking my current six-month monthly rate and multiplying it by 12 but I believe that if I were to pay up front, it would be $864. Not at home right now so can't check my paperwork.

 

So, I paid $392 for the M&F extra coverage but that's including any finance charges over a year .... it would have been $346 for the year if I'd paid it up front... and I get all the same coverages / deductibles as you mention.

[birin]

SilvrT

 

Odd - I got an online quote today for my 2004 midnight ($15,000 valuation) with no accidents or penalties for $400 at $1000 deductible and $444 for $500 deductible

 

Did you get $1000 or $500 deductible?

Might be that the rates in Vancouver are higher than the outlying suburbs.

 

BIRIN

 

 

nope, hadn't heard of them... I got info about M&F from another insurance office.

 

I'm a little off on the ICBC rate I showed above ($988) as I was taking my current six-month monthly rate and multiplying it by 12 but I believe that if I were to pay up front, it would be $864. Not at home right now so can't check my paperwork.

 

So, I paid $392 for the M&F extra coverage but that's including any finance charges over a year .... it would have been $346 for the year if I'd paid it up front... and I get all the same coverages / deductibles as you mention.

[SilvrT]

SilvrT

 

Odd - I got an online quote today for my 2004 midnight ($15,000 valuation) with no accidents or penalties for $400 at $1000 deductible and $444 for $500 deductible

 

Did you get $1000 or $500 deductible?

Might be that the rates in Vancouver are higher than the outlying suburbs.

 

BIRIN

 

I have $500 deductible and I'm in Burnaby which shouldn't make much difference to Vancouver I'd think. Maybe there has been a huge rate increase recently? Did you get the quote from Megson Fitzpatrick?? What's your driving history/age? I've been riding bikes since 1969, I'm over 60, no accidents, etc.

 

Looking back, I made a booboo...I said I insured it for 16k but it was only 13k

 

dunno....maybe that's the difference?

Edited May 7, 2010 by SilvrT