Do you have insurance on your sled?

[bryceraisanen]

COMPLETE BULL$HIT.
If that were the case most people would have a new sled every two or three years, same for cars, houses, and just about everything else! I suggest that he / you go ahead and try it ... go on ... wreck a new sled ... collect and then try it again in 2 or 3 years ... see what happens.
Insurance companies would not be able to stay in business at that rate.

As for me, public liability, fire & theft.

Ive had 4 claims in 9 years. Two were completely totaled. The other two about 30% and 50%.

Still only paying roughly $250 a year, full coverage; comp, collision, property, medical (20k limit, me only), and transport (which is usually NOT covered if u dont specifically add it to the policy). In the sled insurance game, Im up on them by about $19g. Overall though, they're still winning.

Do u have any idea how many sleds r registered on a yearly basis? Add em up an multiply it times avg $400 yearly premium. Totaling a measly couple thousand (IF even that) sleds a year is pocket change for the insurance industry.

 

[boondocker97]

$240/year for full coverage, minus medical, on my 2014 sled with $500 deductible.

 

[Jaynelson]

You guys in the states have it so cheap for gas, insurance and beer.....you don't even know lol

 

[eyefish123]

We do realize how good things are here in the states. Was up in BC a couple of years ago riding in the spring and a small pitcher of beer was $18. It would be tough doing the things I really love (sledding and drinking beer) if I had to pay Canada's prices. But, it would be hard to beat the riding. Everything has a price.

 

[XC500mod]

COMPLETE BULL$HIT.
If that were the case most people would have a new sled every two or three years, same for cars, houses, and just about everything else! I suggest that he / you go ahead and try it ... go on ... wreck a new sled ... collect and then try it again in 2 or 3 years ... see what happens.
Insurance companies would not be able to stay in business at that rate.

As for me, public liability, fire & theft.

I'm not B.S.'ing you, they may be B.S.'ing me, but that's what they said. My rates only went up because i got a newer and more expensive sled. the best part of the claim was that i got my totaled sled back after the adjuster agreed with the shop that it was a total loss. my coverage wasn't as high as the perceived value of the snowmobile, so they gave me the sled to help fill the gap between the claim payout and the actual value. so i got a $7,000 check and a junked sled that i sold for $1,800.

 

[couch]

Sorry but I have a hard time believing that you can have a claim every 2 or 3 years - not even talking about totalling it - and not see a major hit in premiums ... the numbers don't add up ....

Maybe i'm too old to know about the new math but 3 years of premiums at $300 / year is only $900 which even if it returned a rate of 20% / year for the insurance company still wouldn't come close to covering the payout on a new sled + overhead (administration / adjuster fee / legal / disposal / etc.).

 

[bryceraisanen]

Sorry but I have a hard time believing that you can have a claim every 2 or 3 years - not even talking about totalling it - and not see a major hit in premiums ... the numbers don't add up ....

Maybe i'm too old to know about the new math but 3 years of premiums at $300 / year is only $900 which even if it returned a rate of 20% / year for the insurance company still wouldn't come close to covering the payout on a new sled + overhead (administration / adjuster fee / legal / disposal / etc.).

The goal is not to make money on EVERY customer. If it was, nobody would buy insurance. The goal is to collect enough premiums on roughly 95% of customers to pay for the claims of the 5% (plus profit). The 5% who make claims, will further [promote] the cause of the entire industry.

Say u got a guy who owns a construction company and who also pays you (ins agent) $150,000 a year for construction liability (even tho their company never makes a claim). Say the same guy has a tendency to wreck a sled every couple years. Are u gonna look a gift horse in the mouth and tell that guy that ur jackin his sled insurance to $1000 a year? NO! Your gonna play it smart, keep ur trap shut, and be thankful that his company keeps u in tall cotton year in an year out. Who cares if u gotta buy him a sled evey couple years, just keep him happy an the premiums coming your way.

Now if all u got to insure is a $1500 Honda Civic, and a $12,000 sled, of course your rates may vary. Especially if u develop a tendency to be making claims.

Eveybodys rates are different and for different reasons.

 

[couch]

The goal is not to make money on EVERY customer. If it was, nobody would buy insurance. The goal is to collect enough premiums on roughly 95% of customers to pay for the claims of the 5% (plus profit). The 5% who make claims, will further [promote] the cause of the entire industry.

Say u got a guy who owns a construction company and who also pays you (ins agent) $150,000 a year for construction liability (even tho their company never makes a claim). Say the same guy has a tendency to wreck a sled every couple years. Are u gonna look a gift horse in the mouth and tell that guy that ur jackin his sled insurance to $1000 a year? NO! Your gonna play it smart, keep ur trap shut, and be thankful that his company keeps u in tall cotton year in an year out. Who cares if u gotta buy him a sled evey couple years, just keep him happy an the premiums coming your way.

Now if all u got to insure is a $1500 Honda Civic, and a $12,000 sled, of course your rates may vary. Especially if u develop a tendency to be making claims.

Eveybodys rates are different and for different reasons.

Guess that explains the sub prime fiasco south of the border and the need to bail out the insurance & financial sector (yes they did it on this side too but not to the same extent) ...
Your insurance agent / broker is only the same as your sled dealer - he isn't the manufacturer any more than the insurance agent / broker is the underwriter ....

BTW - the goal IS to make money on every customer - some are more profitable than others but the intent is to make a minimum level of return otherwise they are dropped / encouraged to shop elsewhere / face significant increases in premiums.

 

[SRXSRULE]

I wrecked 2 sleds in 3 years back in 00-02'ish, one was totaled. Rates went from 200 range to 1200 range. Didnt insure my sleds for about 4-5 years after that. Now for the last 5 years or so I can insure a new sled for 250-300 range for full coverage but I also havent made a single claim in that time. Eric

 

[Bkinz]

Always have insurance, full coverage for that matter! Never know when something will go wrong. I finally totaled my first sled last year and have been riding for the last 14 years, that being said I'm only 20yrs old. Even with that claim, the same insurance company who just wrote me a check for $13k just insured my boosted viper for $22 month, full coverage with unlimited add on coverages ( turbo, suspension, etc). If your insurance jacked up your prices after 1 single claim I would say it is time to look else where. Take into account that the insurance companies go off your driving record as well, so maybe that is why mine didn't skyrocket.

 

[05900]

Insurance is better than trade in value......

Wasn't said and you didn't hear it!

 

[cowboy181d]

I carry full coverage on all the family machines. Covers you if someone steals your sled, I even have uninsured motorist coverage in case another rider hits my machine. Think all 6 sleds runs me about 250.00 a year for the bunch through state farm.

 

[tomx]

Always have always will. I'm covered though USAA, it's like $125 for the year. I put it in storage mode usually June-November, or whenever first snow is.

 

[Sage Crusher]

I have created a few of my own problems with small crashes that I pay for out of pocket but it would really suck to have to come up with $12,000 out of pocket in the middle of season to replace a wrecked sled. Definitely carry insurance. I pay about $25 per month in the winter and then I cancel it during summer months.

I was also doing this unitl the place where my sled was stored burned- ( My Shop) and with no insurance on it - was not covered-
Word of warning- ( if anything happens when stored- if a item can carry it's own policy then it WILL NOT be covered by homeowners- or anything else)
This is why lawn mowers weed eaters ect ect are covered....
Don't make the mistake I did-
$30.00 month full coverage.. $1.00 /day is cheap

S/C

 

[jbass]

I have my sled insured for liability
Sled goes down hill hits someone and they get injured
No insurance I loose everything
As far as damage to my sled I can buy a new sled or fix it and survive.

 

[2XM3]

full coverage before I even pick it up from the dealer....lol be insane not to have insurance on a sled in todays world. More so on a atv/utv

 

[Powderhound]

How much do you guys spend on full coverage for a sled?

About 160 a year

 

[jhurkot]

Just insured for fire theft vandalism cost about $200 a year in Alberta. Couldn't sleep at night if it wasn't. Especially in Revelstoke. Almost lost my truck and 2 sleds a couple years ago but luckily I left my interior lights on and the battery was dead.

 

[SRXSRULE]

full coverage before I even pick it up from the dealer....lol be insane not to have insurance on a sled in todays world. More so on a atv/utv

I do they same thing. Call the dealer and get the VIN # before I even go pick it up. That way its covered on the way home Eric

 

[plumnuts]

at very least have liability (your home owner's may do that)...