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V4 insurance

20435 Views 40 Replies 20 Participants Last post by  wicked, 
Stevedv4
Hi has anyone managed to find out what the insurance cost will be yet.
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icebreaker
Still have my fingers in the ears and singing “lalalalalaaa”.
Joke aside I’m a bit worried over that part.
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S
honestly I don't want to even ask, I had quotes ranging from a couple to several thousand across different agencies in CA.
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C
Keep in mind this is from Canada, Ottawa if you know it... I am a mature rider, my Wife would not agree but as far as the Insurance company is concerned, over 50 years old riding for about 20 years, zero tickets or accident claims. Okay that't the long boring reference for you.

The V4 (not the S) or the other bike I am considering a 2018 BMW S1000RR will cost me 40% more then I am currently paying for my 2016 BMW S1000XR. I have full coverage on the bike.

The XR costs me $1,200 a year, the estimate on the new bikes I am considering is around $1,700 a year. Hmm, maybe I didn't want to put this in writing cause it makes me realize how much we pay for Bike insurance... Well you asked :)
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cavlino said:
Keep in mind this is from Canada, Ottawa if you know it... I am a mature rider, my Wife would not agree but as far as the Insurance company is concerned, over 50 years old riding for about 20 years, zero tickets or accident claims. Okay that't the long boring reference for you.

The V4 (not the S) or the other bike I am considering a 2018 BMW S1000RR will cost me 40% more then I am currently paying for my 2016 BMW S1000XR. I have full coverage on the bike.

The XR costs me $1,200 a year, the estimate on the new bikes I am considering is around $1,700 a year. Hmm, maybe I didn't want to put this in writing cause it makes me realize how much we pay for Bike insurance... Well you asked :)
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How many insurance companies have you checked with because I heard the smaller ones often give out cheaper rates, but that's not always the case. I have a family member that lives far out from the city and if V4 prices are high across the board for most owners I might consider using their address.
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V4Dream said:
How many insurance companies have you checked with because I heard the smaller ones often give out cheaper rates, but that's not always the case. I have a family member that lives far out from the city and if V4 prices are high across the board for most owners I might consider using their address.
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I switched recently to the Insurance broker I use because they are Motorcycle Insurance friendly, they even give you a discount if you have more then one bike insured with them. I used to have State Farm but they raised Bike rates by about 50% and would not give a discount if you had more then one Bike with them.

In Canada its not that easy to get insurance for Motorcycles so we don't have that many options. Thanks for the suggestion though.
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DarR
cavlino said:
Keep in mind this is from Canada, Ottawa if you know it... I am a mature rider, my Wife would not agree but as far as the Insurance company is concerned, over 50 years old riding for about 20 years, zero tickets or accident claims. Okay that't the long boring reference for you.

The V4 (not the S) or the other bike I am considering a 2018 BMW S1000RR will cost me 40% more then I am currently paying for my 2016 BMW S1000XR. I have full coverage on the bike.

The XR costs me $1,200 a year, the estimate on the new bikes I am considering is around $1,700 a year. Hmm, maybe I didn't want to put this in writing cause it makes me realize how much we pay for Bike insurance... Well you asked :)
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Home, Autos and Bikes are all currently insured by TD with multiple item discounts applied. The 2018 bike insurance quotes just received are:

$1329 for the Panigale and $1150 for the Monster.

I have a clean driving record, age 50+ and living in a smaller city.
When I moved out of Toronto two years ago, my auto insurance premiums reduced by 40%.
Just like age, city size/traffic can make a big difference in premiums.
Notwithstanding, what I find unacceptable is paying for liability on each vehicle when I can only ride one at a time.
I will be shopping this quote in the next couple of weeks. Suggestions are welcomed.
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DarR
V4Dream said:
I have a family member that lives far out from the city and if V4 prices are high across the board for most owners I might consider using their address.
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Just keep in mind that the insurance company's underwriting is based on where you're riding, not where you're mailing address is located.
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Stevedv4
I’ve had quotes in the region on £8k
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DarR said:
Home, Autos and Bikes are all currently insured by TD with multiple item discounts applied. The 2018 bike insurance quotes just received are:

$1329 for the Panigale and $1150 for the Monster.

I have a clean driving record, age 50+ and living in a smaller city.
When I moved out of Toronto two years ago, my auto insurance premiums reduced by 40%.
Just like age, city size/traffic can make a big difference in premiums.
Notwithstanding, what I find unacceptable is paying for liability on each vehicle when I can only ride one at a time.
I will be shopping this quote in the next couple of weeks. Suggestions are welcomed.
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Thompson Insurance Brokers
[email protected]
(613) 825-3535
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DarR
cavlino said:
Thompson Insurance Brokers
[email protected]
(613) 825-3535
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Thanks. Who's the insurer? and were you given a quote for the Pani V4?
I'm already paying $1330 for my Panigale which is the same quote price to insure an S1000RR.
The big 1299 was blacklisted by TD two years ago. I'll be speaking with them soon to negotiate a better price and will take the opportunity to ask them about the V4 and their previous blacklisting rules.
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DarR
Stevedv4 said:
I’ve had quotes in the region on £8k
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£ :eek::eek::eek::eek:
Have you considered driving Mr. Bean's Mini? :devil:
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D
This is the part of motorcycle ownership I'm dreading. Having been riding for less than 20 years, getting the V4 is going to cost an arm and a leg, won't be surprised to see it close to the $2,000 mark in Canada even if I go with the company that's insuring my car.
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B
Its certainly a good idea to shop around, as there don't seem to be many discounts offered, even with using the same company that you have other vehicles insured under. Unfortunately in Canada our insurance companies use the "prove your capability" method of determining rates. Over 25, here's a break, over 30, here's a break. Clean record for a given number of years, here's a break. From the little shopping around I've done it doesn't look like ill find anything for less than $2,500.
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DarR said:
Thanks. Who's the insurer? and were you given a quote for the Pani V4?
I'm already paying $1330 for my Panigale which is the same quote price to insure an S1000RR.
The big 1299 was blacklisted by TD two years ago. I'll be speaking with them soon to negotiate a better price and will take the opportunity to ask them about the V4 and their previous blacklisting rules.
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I switched all my insurance coverage (Home, Car(s), Trailer, Motorcycle) to Jarrett Thompson Insurance Brokers LTD. | Offering our clients a different insurance experience. when StateFarm was purchased by about a year ago.

They (Thompson) shop around for you and pick companies based on your needs. So in my case they chose Intact for the Motorcycle since the ones I have owed or are interested in are not black listed (Daytona 675R, BMW S1000RR, Ducati 959 and V4 Panigale).

I asked for an estimated quote for a 2018 BMW S1000RR valued at $22,000 and the Ducati Panigale V4 valued at $25,000, I qualified the V4 by letting them know they won't find history on it but they could probably use the Panigale 1299 as a reference.

I got an estimated cost range of $1,600 to $2,000 a year and a note saying the BMW would probably be on the low side of that and the Ducati the higher side.

I didn't ask for a specific quote yet since I'm not sure which one I am getting but I wanted to be sure I could actually insure it.

I hope this helps and keep us posted on what you find as well, I am sure this information will help other Canadians :)
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DarR
@cavlino
Yes, that help's. Especially the part that they will consider insuring the new V4 although I think it should be grouped with the S1000RR as it's also a four cylinder and easier to ride on the street relative to the V2 1299 but that's just my opinion.
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DarR said:
@cavlino
Yes, that help's. Especially the part that they will consider insuring the new V4 although I think it should be grouped with the S1000RR as it's also a four cylinder and easier to ride on the street relative to the V2 1299 but that's just my opinion.
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Glad the information helped and I like your reasoning, the thing with insurance though is its based on stats and when a new model comes out unfortunately the lack of stats usually translates to higher premium...
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D
If calvino's estimate is around $1,600 to $2,000 then my estimate is not too far off and not as expensive as I thought.
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Duckaty said:
If calvino's estimate is around $1,600 to $2,000 then my estimate is not too far off and not as expensive as I thought.
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Yes and my price estimate was just insuring the bike on its own policy, my broker told me if I also switched my home and auto insurance to Aviva then the cost would be reduced even more. I am looking into that now. I'm glad I could help :)

Oh and by the way I was updated recently that Intact now black list the Triumph Daytona so most likely I will be switching to Aviva.
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T
That's dedication right there, switching over all your current insurance policies to that of a future bike purchase, for a better rate aha. I know there's a lot of shopping around to be done however as my current provider (Bel Air) wont seem to insure any bike/recreational vehicle that has more than 800cc's. I had to convince them to insure a Yamama Raptor 700, on the sole basis of how business I currently give them and that if I had to find another provider, id be taking all my vehicles with me.
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