Sled Insurance

[Strong Farmer]

19 hours ago, stoney said:

 

Same here, or accident on trail that could be hard to determine who was in the wrong or while being towed in trailer and an accident happens, etc.....

Considering the time of year this sport is enjoyed, the conditions for accidents to happen are quite a bit worse.  

Thank fully I have never had a claim. I agree these things are expensive and last long anyone needs is it not covered by insurance if no collision. 

[Dave K]

10 hours ago, burndog said:

One company "all in" for me, ya win some ya lose sum!

 

Yup  Me too.  They do my farm, auto sled, atv, life insurance.

 

They know that if im on hold for longer than a few minutes, i can walk into the office and smack them over the head since they are that close to me. 

[yamadan700]

On 9/25/2023 at 11:36 AM, stoney said:

 

I think you get preferred rates if you are part of certain groups/orgs....,like union.

My wife is and so far what she has been quoted, is not what I would say is preferred.

You seem to get some good rates though based on full coverage.

I switched most of my business to them about 10 years ago. 

I also saw an approx 30% drop on my vehicles when I moved from Markham to up here about 6 years ago. Don't think the sleds changed much tho.

[Blackstar]

Called TD Insurance yesterday to add the Mach Z to my current policy. 20 minute conversation verifying who I was and the details of the sled, with a nice lady and she says "I'm sorry, the system is down. Please call back another time."   lol

 

I called today and talked with another nice lady who was obviously on a headset (muffled), English for a second language, and working from home (she apologized for her screaming cat in the background). We managed to get through the process. Hard to believe this is now the norm for communication with a large corporation.

 

2022 Mach Z, valued at $20k, $1m Liability, Comprehensive with $500 deductible, no collision, $519 for the year tax included.

[Strong Farmer]

3 hours ago, Blackstar said:

Called TD Insurance yesterday to add the Mach Z to my current policy. 20 minute conversation verifying who I was and the details of the sled, with a nice lady and she says "I'm sorry, the system is down. Please call back another time."   lol

 

I called today and talked with another nice lady who was obviously on a headset (muffled), English for a second language, and working from home (she apologized for her screaming cat in the background). We managed to get through the process. Hard to believe this is now the norm for communication with a large corporation.

 

2022 Mach Z, valued at $20k, $1m Liability, Comprehensive with $500 deductible, no collision, $519 for the year tax included.

That’s seems  high I am slightly below that for just a regular 900 with collision. 
Lucky it’s not 2002 and once they hear name Mach, viper, wouldn’t ensure it. 🤦‍♂️. 

[PISTON LAKE CRUISER]

38 minutes ago, Strong Farmer said:

That’s seems  high I am slightly below that for just a regular 900 with collision. 
Lucky it’s not 2002 and once they hear name Mach, viper, wouldn’t ensure it. 🤦‍♂️. 

Your "regular" 900 is what 100 hp?    180 hp. would make a difference I believe from a risk standpoint.

[Strong Farmer]

10 hours ago, PISTON LAKE CRUISER said:

Your "regular" 900 is what 100 hp?    180 hp. would make a difference I believe from a risk standpoint.

At td they mostly go by price. I am only insured for 12 k now. don’t seem to matter what’s under hood 😆

Is there a max price td wont touch now? Use to be not sure if they got rid of that cap or not? 
 

[PISTON LAKE CRUISER]

1 hour ago, Strong Farmer said:

At td they mostly go by price. I am only insured for 12 k now. don’t seem to matter what’s under hood 😆

Is there a max price td wont touch now? Use to be not sure if they got rid of that cap or not? 
 

So do you think the approx. $8000.00 price difference would help justify the higher premium if not the risk?

[Spiderman]

1 hour ago, Strong Farmer said:

At td they mostly go by price. I am only insured for 12 k now. don’t seem to matter what’s under hood 😆

Is there a max price td wont touch now? Use to be not sure if they got rid of that cap or not? 
 

The value is only used for rating purposes, it has no bearing on the payout.

The payout under the policy is based on Actual Cash Value.

 

Got my renewal from TD in my hand - no change up or down. 

Paid

 

[Spiderman]

25 minutes ago, PISTON LAKE CRUISER said:

So do you think the approx. $8000.00 price difference would help justify the higher premium if not the risk?

Without knowing every detail - you simply can't compare - there is quite a bit that will go into rating and cause variance.

If it's not apples to apples - then it's a pointless exercise

 

 

 

 

[Blackstar]

31 minutes ago, PISTON LAKE CRUISER said:

So do you think the approx. $8000.00 price difference would help justify the higher premium if not the risk?

 

TD's pricing is based on Price for the Comprehensive portion.

 

Looking at my policy, I pay the same rate for my Cat Turbo as I do for my wife's Renegade 900 as far as Liability and accident benefits, $1mil coverage on each.

 

When I get to the comprehensive section, I pay $72 for the Cat (valued at $6500, $500 deductible) and $106 for the Renegade (valued at $15k, $1000 deductible). 

 

Not sure how the 2 deductibles got to be different, but this is probably the first time I actually looked at the numbers....lol

 

 

[Spiderman]

23 minutes ago, Blackstar said:

 

TD's pricing is based on Price for the Comprehensive portion.

 

Looking at my policy, I pay the same rate for my Cat Turbo as I do for my wife's Renegade 900 as far as Liability and accident benefits, $1mil coverage on each.

 

When I get to the comprehensive section, I pay $72 for the Cat (valued at $6500, $500 deductible) and $106 for the Renegade (valued at $15k, $1000 deductible). 

 

Not sure how the 2 deductibles got to be different, but this is probably the first time I actually looked at the numbers....lol

 

 

 

And you would be in the 99% group who rarely look at anything - just the price

 

I have a $1,000.00 deductible.

$500.00 is useless and I would never make a claim for anything in or around there - to lose claims free and/or have a claim go against my rating for something so low is ridiculous

[95rxl650]

I use Intact. Through covid I went through a few sleds including, 07 apex, 01doo formula 700, 07 cat Z1na, 17 doo blizzard 600 and 01 srx700. Currently a 14 zr7000 limited. Non of my sleds are woth enough to worry about collision. Basic insurance with million liability is currently $235 a year. $20 per month. Cancel anytime, no penalty. Ride a month, pay a month. Call anytime and have proof of insurance sent in minutes. I have home, 2 vehicles, 2 boats and business with them. About $450 per month

[RAMSOMAIR]

I have everything with Intact, home 3 vehicles, camper, sled trailer and side by side. Their sled insurance is double what I pay at TD so sleds stay there. 

[95rxl650]

I only insured for a month last year. Cant beat $20 out of pocket. Like I said though. No collision and older sleds. 

[Strong Farmer]

49 minutes ago, 95rxl650 said:

I use Intact. Through covid I went through a few sleds including, 07 apex, 01doo formula 700, 07 cat Z1na, 17 doo blizzard 600 and 01 srx700. Currently a 14 zr7000 limited. Non of my sleds are woth enough to worry about collision. Basic insurance with million liability is currently $235 a year. $20 per month. Cancel anytime, no penalty. Ride a month, pay a month. Call anytime and have proof of insurance sent in minutes. I have home, 2 vehicles, 2 boats and business with them. About $450 per month

I tried cancel route years ago but insurance company said premium was dissolved from Nov 1 to April 30 on sleds. So if I cancelled March break I barely get anything back. 

[95rxl650]

I was suprised. Years ago, we paid our yearly premium and got nothing back. Same with motorcycles. I paid for 1 month last year. I havent insured yet this year, but the file is open and waiting for my call. I get proof of insurance within minutes to my email.  I verified the prorating. while I had them on the phone. I like it.

[burndog]

On 11/25/2023 at 9:20 AM, Strong Farmer said:

I tried cancel route years ago but insurance company said premium was dissolved from Nov 1 to April 30 on sleds. So if I cancelled March break I barely get anything back. 

Yes, agree with this 100%, can't work otherwise as would be "TOO GOOD to be TRUE"

[95rxl650]

10 hours ago, burndog said:

Yes, agree with this 100%, can't work otherwise as would be "TOO GOOD to be TRUE"

Here's another example of our intact policy. A few years back, my wife gave our eldest daughter her 2010 Charger RT. She did not reside with us and was not added as a secondary. The car stayed in my wifes name to save the cost of re-certification and was insured in my daughters name. We tried the same thing with our second eldest daughter and a Honda crv. They said there was no way it they could do it. We referred to to the previous policy and they insured our second dauhter the same way. She is still primary on a vehicle in my wifes name as of today. I'm told by some of my customers who work in the industry, that it's too good to be true...yet here we are. What I have posted in regards to our insurance are the facts. Not some made up bs for entertainment. I'm too old and no time for bs.  When I call for proof of insurance to be sent, I will get the extension and anyone interested in a fair shake can call. 

[RAMSOMAIR]

Yep, Intact has been good to us also. We add and cancel the BMW in the spring and fall and always get a refund in the fall for around $500. They can’t come close to TD price for sleds unfortunately 

[Strong Farmer]

40 minutes ago, RAMSOMAIR said:

Yep, Intact has been good to us also. We add and cancel the BMW in the spring and fall and always get a refund in the fall for around $500. They can’t come close to TD price for sleds unfortunately 

Cars you can do that.  I pay about 550 a year for a c7 corvette. 😎 I just leave it in force all year. It’s prorated for soring, summer and fall anyways. 

[Spiderman]

14 hours ago, burndog said:

Yes, agree with this 100%, can't work otherwise as would be "TOO GOOD to be TRUE"

 

Minimum earned premiums, earned premiums, and un-earned premiums all come into play.

Many insurers have a set minimum earned premium on items that tend to be "seasonal" for a reason.

[Spiderman]

3 hours ago, 95rxl650 said:

Here's another example of our intact policy. A few years back, my wife gave our eldest daughter her 2010 Charger RT. She did not reside with us and was not added as a secondary. The car stayed in my wifes name to save the cost of re-certification and was insured in my daughters name. We tried the same thing with our second eldest daughter and a Honda crv. They said there was no way it they could do it. We referred to to the previous policy and they insured our second dauhter the same way. She is still primary on a vehicle in my wifes name as of today. I'm told by some of my customers who work in the industry, that it's too good to be true...yet here we are. What I have posted in regards to our insurance are the facts. Not some made up bs for entertainment. I'm too old and no time for bs.  When I call for proof of insurance to be sent, I will get the extension and anyone interested in a fair shake can call. 

 

Lot's of things can slip through the cracks on the underwriting side - but get flushed out on the liability side later on......

 

Your daughter could not be added as a secondary if she does not reside with you and/or is not a student - so that is no surprise

 

In your scenario- I will say there are two things you might want to consider thinking about.

 

1. Your daughter has no insurable interest in the subject vehicle - probably not an issue since you're family 

 

2. Your wife has no liability coverage under the policy.

Let's say you're daughter is 100% liable for an accident - there are serious injuries in the other vehicle - their counsel sues the driver, vehicle owner etc. - your wife is not party to the policy and you most likely will be funding your own defence costs

 

 

 

 

 

 

 

 

[95rxl650]

1 hour ago, Spiderman said:

 

Lot's of things can slip through the cracks on the underwriting side - but get flushed out on the liability side later on......

 

Your daughter could not be added as a secondary if she does not reside with you and/or is not a student - so that is no surprise

 

In your scenario- I will say there are two things you might want to consider thinking about.

 

1. Your daughter has no insurable interest in the subject vehicle - probably not an issue since you're family 

 

2. Your wife has no liability coverage under the policy.

Let's say you're daughter is 100% liable for an accident - there are serious injuries in the other vehicle - their counsel sues the driver, vehicle owner etc. - your wife is not party to the policy and you most likely will be funding your own defence costs

 

 

 

 

 

 

 

 

You sound as though you have some intimate knowledge with with mechanics of insurance. Admittedly, I do not. Proof and I'm off. Never had a claim, never had to deal with it. A few scrapes over the years, but nothing worth making a claim.  My wife had collision on a Charger RT and a Chrysler 300c only because they exceeded our usual 10k vehicles. 

She will be intested to know that she...we, could liable if our daughter were to be in a serious crash. We worked hard to be 100% debt free. Life is finally pretty simple. Hate to have that messed up simply to save a few dollars certifying a cheap car. 

And here I thought we were winning...beating "the man" . All an illusion.

Thankyou for the education.. Truly appreciated.

[Spiderman]

22 minutes ago, 95rxl650 said:

You sound as though you have some intimate knowledge with with mechanics of insurance. Admittedly, I do not. Proof and I'm off. Never had a claim, never had to deal with it. A few scrapes over the years, but nothing worth making a claim.  My wife had collision on a Charger RT and a Chrysler 300c only because they exceeded our usual 10k vehicles. 

She will be intested to know that she...we, could liable if our daughter were to be in a serious crash. We worked hard to be 100% debt free. Life is finally pretty simple. Hate to have that messed up simply to save a few dollars certifying a cheap car. 

And here I thought we were winning...beating "the man" . All an illusion.

Thankyou for the education.. Truly appreciated.

Could be named in litigation as the vehicle owner - pretty common practice when a SOC is issued in MVA's when the driver is not the registered owner.