REVscene - Vancouver Automotive Forum

imbty · 08-26-2011, 08:21 PM

So I crashed a particular motorcycle in a corner (single vehicle accident). 2nd accident, first one I didn't claim and fixed it myself.

Now, the bike is 500km from Langley where I reside, so it'll take money to bring it back here, get a proper estimate (i still don't know how much the estimate is) of how much it'll cost to fix, but I digress.

I might make a claim since the damages look really bad. I paid (let's say) $6,000 out the door, but I declared the value at $4,700 (I assumed declared value was excluding tax/freight).

Anyways, my problem is I don't know how much they'll give me. I hear ICBC's first offers are low-balls (but one ICBC lady said my declared value minus the deductible is what I'll get), and it's possible to negotiate. Is this true? I have yet to speak to my adjuster (I will next week, hopefully).

Also, does anyone know if it's possible for Premiums to go down without having a bike/vehicle insured? Coz I know new drivers (Learners) without vehicles insured under their name still accumulate yearly discounts.

So if I claim and my insurance goes up 45%, i can grab the money and get a family member to insure my next vehicle (probably a car, might just ride on track, street's too unpredictable), will my insurance premium rates gradually go down even if i don't have a vehicle insured under my name?

murd0c · 08-26-2011, 08:59 PM

same thing as a car. Compare prices with simular bikes for sale and insurance will work the same as well.

What ever you do don't buy another bike sounds like you will kill your self on one if you get another.

imbty · 08-27-2011, 09:56 PM

Quote:

Originally Posted by murd0c

same thing as a car. Compare prices with simular bikes for sale and insurance will work the same as well.

What ever you do don't buy another bike sounds like you will kill your self on one if you get another.

Yea. I'm currently trying to decide whether I want to continue riding in the street.

At the moment, I don't have a car and won't be able to drive (I'm still on my Learner's stage) so having a bike again ASAP would be nice, but I think it would be wise to just wait till next season before I decide if I want a street bike or not.

I'm pretty confident that I don't want to give up riding altogether though. I might just have to take it to the track.

Any advice for being low-balled by ICBC? Can I even persuade ICBC to tow my bike to an actual dealer (maybe one in Vancouver, rather than in Kelowna) to get a real estimate of what needs to be fixed to get the bike in legal/safe running order?

racerman88 · 08-31-2011, 07:47 PM

Do your research and have it with you when talking to your adjuster. Have a bunch of prices of what ppl are selling their same model bike for

Edison_Chen · 08-31-2011, 08:20 PM

After 3 years from the ICBC charge date, you will either go back to base rate, or you'll will back to the same discount right now. Even if you don't insure anything...

ruthless · 08-31-2011, 08:58 PM

Quote:

Originally Posted by Edison_Chen

After 3 years from the ICBC charge date, you will either go back to base rate, or you'll will back to the same discount right now. Even if you don't insure anything...

You sure there are two options (back to 0 or back to current discount level)
I was under the impression that it is back to 0 % discount once the surcharge disappears

Selanne_200 · 08-31-2011, 09:09 PM

It depends on what level you were on before. For example, I got caught in the snow a few yrs ago and I had to make a claim, I was at 30% but after the claim I went up 3 levels so went to a 15% for 3 years but this year I go back to 30% which is where I was at before. I think he was trying to say if you were at 0%discount and you make a claim, you go to a surcharge of +20% or something, you go back to 0

Edison_Chen · 08-31-2011, 09:20 PM

If you are at base rate or at a surcharge when the claim happens, you have the base rate rule: No matter how high your surcharge is before the claim, after 3 years you will go back to base rate (assuming no more new additional claims).

For example, lets say your at base rate (0%).

You get into 1 accident:
Today:+6 steps = +6(75% surcharge on "no discount" premiums)
Next year: = +5(55%)
Year after: = +4(40%)
Year after that: = base rate (0%).

If your are -6(30%) discount and 1 claim happens...

today: +5 steps = -1(5%)
Next Year: -2(10%)
Year after: -3(15%)
Year after that -6(30%) recovery rule (also assuming no new additional claims)

The claim does not disappear, it stays on your record for 20 years.
http://www.icbc.com/autoplan-insuran...-costs/crs.pdf