• Howdy! we're looking for donations to finish custom knowledgebase software for this forum. Please see our Funding drive thread

Insurance Premiums in Canada

PJD

100 W
Joined
Nov 1, 2007
Messages
232
Location
Pittsburgh, PA, US
Both my e-max electric scooters are licensed as motorcycles and require insurance. Fortunately the insurance is cheap - about $50-$70 for legal minimum liability. My Toyota pickup truck has higher-limits liability for about $220 per year.

So I was stunned to read out here:
http://www.wheels.ca/article/asset/236234

That a guy who bought a Kymco scooter for commuting in Toronto was bragging about paying "only" $500 per year! He says large-displacement motorcycles cost "two to four times as much". He pays $1600 for his insurance on a car.

Why are car insurance premiums so high in Canada? Yes, I know, most poeple in the US pay $thousands more in paycheck deductions just so they can see a doctor, so life in Canada is still probably cheaper. But, just the same how are such high liability insurance premiums justified especially for a little scooter that could hardly do much damage to anyone except the rider?
 
Insurance on a 400cc motorcycle can be had for $360/yr here in BC. I pay just over $1k per year for full coverage on each car.
 
I'm looking at 1.6k per year for just ONE car. This is after it has dropped some from being with this insurance company for a while. I remember paying twice as much when i first started driving about 5 years ago. I live in NJ, USA. It has the highest insurance premium in the country. Most insurance company have a separate sale department to deal with us NJ residents.
 
PJD said:
Why are car insurance premiums so high in Canada?

Couldn't tell you? Greed maybe...

I'm in Southern Ontario Canada.

I remember about 10 or so years ago I was concidering getting a motorcycle licence and purchasing a used 200cc scooter for $200.Before buying I phoned a bunch of insurers to get quotes on what it would cost to insure me and the scooter.Well the best quote I got was $600. for 6 months.Geez,that was way to much and didn't bother.Sure I was a new driver and all and expected to pay somewhat more for that fact but not 3 times the value of the bike where if I got in some sort of crash the only one who'd get hurt was me!

I pay $150 a year to insure my apartment and contents.I'm covered for replacement cost of contents for up to $40,000 and liability for up to $1,000,000.A much better deal than drivers insurance.

Eric
 
Back
Top