Insurance rate gets jacked up

A Fort Erie motorcycle enthusiast says he has an insurance horror story that could kill his passion for riding a bike.
“Porky” Chenard was shocked when his insurance company told him to pay nearly three thousand dollars next month — or keep his bike in the garage: “How do you get rid of something you’ve worked so hard for. I’m flabbergasted. I can’t get over this.”
Porky loves bikes so much, that even when he lost leg to a drunk driver years ago while on his motorcyle he refused to give up riding. He built this custom trike with all kinds of bells and whistles.
“In the summertime I get on here. Me and my wife go camping. I’ve got a trailer that goes on the back. It’s safe. We’ve never had any accidents.”
But when he opened what he thought was his trike insurance renewal slip he was shocked: “It wasn’t a renewal slip — it said bring 2,883 dollars. I asked why. They said that’s
what we want. If you don’t like it, you can’t have insurance.
Nearly three thousand dollars to get out on the road this year — when only two years ago Chenard was paying $950: “I’m only on the road six months of the year. I have to pay for the full year. I’m looking at 500 dollars a month.
Chenard says the explanation given to him is that his custom made trike wasn’t subjected to same safety tests that manufactured vehicles much undergo. But Chenard has had this trike 20 years he asks why such a significant hike in the past two years.”
The Insurance Bureau of Canada told us Chenard’s rates could be high because it’s a trike assembled with a car engine rather than a motorcycle engine.
The nearly 29 hundred dollars is due soon: “If I don’t start saving up now. I won’t be able to go go on the road next year.”

 Source: Posted: April 8, 2014 08:31:31 PM    |   Last updated: April 8, 2014 08:31:31 PM http://www.chch.com/insurance-rate-gets-jacked/