20yr M1 Insurance Quotes

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iFly55

Well-known member
I got my M1 on Jun 1st, 2011 and passed the Humber (M1 Exit?) but i still have to wait the 60-days before i get my M2 so that's Aug 1st, 2011

State Farm flat out denied me, advising to wait till Nov 2011 which would be the 5 year anniversary of my G1 license

I then called John Duffy R. Insurance Brokers and they gave me two company rates for a 11' Kawasaki 250R:

Company A) $4810 for full coverage; $4062 w/o collision; $3584 w/o collision + fire & theft

Company B) $3479 for full coverage if i wait till Sep 24 (30-days in advance of my 21st birthday)

Still waiting for a call back from Cornerstone Brokers and TD's Online Quoter was similar to Company A: $4136 minimum coverage & $4746 full coverage

Are these quotes normal for a 20yr M1 driver?
 
You'd be best off buying an older Ninja 250 and scrapping the Collision coverage. Also, your rates will be about 40% cheaper at this time next year . . . you might wan to wait it out.
 
Rates look about correct based on the information you've provided.

At those prices you can buy another Ninja 250R! :lol:
 
looks about right. imo, if insurance is about the same price as a bike, don't do it or find a better quote, or wait lol
 
Just a follow up! I actually called TD and they have gave me 2 quotes one for 8-months & 12-months

8-months

$2773 (Full Coverage)
$2388 (Liability-Only)

12-Months

$4803 (Full Coverage)
$4136 (Liability-Only)

So i obviously won't be riding in the winter months, this 8-month coverage sounds like a no-brainer. What's the catch?
 
iFly55 said:
Just a follow up! I actually called TD and they have gave me 2 quotes one for 8-months & 12-months

8-months

$2773 (Full Coverage)
$2388 (Liability-Only)

12-Months

$4803 (Full Coverage)
$4136 (Liability-Only)

So i obviously won't be riding in the winter months, this 8-month coverage sounds like a no-brainer. What's the catch?
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I thought TD only insures you if you're 25 or over?
 
LoneRonin said:
and whats this 8 month 12 month business?? I thought we didn't have seasonal insurance here...
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i called again to get some clarification, the way TD works is that you don't pay during the winter months, your payments are spread across the riding season

riding season starts in March? so if i were to start today i would have to make 4 more payments for the rest of the riding season: Jul-Feb ( 8 months ) but will pay $594/month (Jul-Oct)

it sounds like the best option at the moment, and come March 2012 i'll have 5+ yrs of driving experience (State Farm) and i'll be 21 (Jevco)
 
iFly55 said:
I got my M1 on Jun 1st, 2011 and passed the Humber (M1 Exit?) but i still have to wait the 60-days before i get my M2 so that's Aug 1st, 2011

State Farm flat out denied me, advising to wait till Nov 2011 which would be the 5 year anniversary of my G1 license

I then called John Duffy R. Insurance Brokers and they gave me two company rates for a 11' Kawasaki 250R:

Company A) $4810 for full coverage; $4062 w/o collision; $3584 w/o collision + fire & theft

Company B) $3479 for full coverage if i wait till Sep 24 (30-days in advance of my 21st birthday)

Still waiting for a call back from Cornerstone Brokers and TD's Online Quoter was similar to Company A: $4136 minimum coverage & $4746 full coverage

Are these quotes normal for a 20yr M1 driver?
Click to expand...

iFly55 said:
Just a follow up! I actually called TD and they have gave me 2 quotes one for 8-months & 12-months

8-months

$2773 (Full Coverage)
$2388 (Liability-Only)

12-Months

$4803 (Full Coverage)
$4136 (Liability-Only)

So i obviously won't be riding in the winter months, this 8-month coverage sounds like a no-brainer. What's the catch?
Click to expand...

I'm also 20 with M1 and I'll share some stuff I've learned with you.

1. Those quotes you got with Duffy are both 1 payment only. Have fun with that.

2. Those quotes you got from TD, and I'm not too sure of this but just a heads up in case, are probably only until the end of the season (until FEB I think the lady told me). You're probably going to get 2-3 months of riding for $2.5k. Is that worth it? Again just a heads up, I'm not too sure of that look it up.

Oh an F*** insurance.
 
Berreta said:
I'm also 20 with M1 and I'll share some stuff I've learned with you.

1. Those quotes you got with Duffy are both 1 payment only. Have fun with that.

2. Those quotes you got from TD, and I'm not too sure of this but just a heads up in case, are probably only until the end of the season (until FEB I think the lady told me). You're probably going to get 2-3 months of riding for $2.5k. Is that worth it? Again just a heads up, I'm not too sure of that look it up.

Oh an F*** insurance.
Click to expand...

Yes, TD renews all motorycle (maybe cars.. not sure) starting from Feb. So if you start in december, the policy will expire in Feb or if you start now, it'll still expire in Feb. Thats how it works...
 
iFly55 said:
I got my M1 on Jun 1st, 2011 and passed the Humber (M1 Exit?) but i still have to wait the 60-days before i get my M2 so that's Aug 1st, 2011

State Farm flat out denied me, advising to wait till Nov 2011 which would be the 5 year anniversary of my G1 license

I then called John Duffy R. Insurance Brokers and they gave me two company rates for a 11' Kawasaki 250R:

Company A) $4810 for full coverage; $4062 w/o collision; $3584 w/o collision + fire & theft

Company B) $3479 for full coverage if i wait till Sep 24 (30-days in advance of my 21st birthday)

Still waiting for a call back from Cornerstone Brokers and TD's Online Quoter was similar to Company A: $4136 minimum coverage & $4746 full coverage

Are these quotes normal for a 20yr M1 driver?
Click to expand...

Same quote (sorta) at age 20 back 4 years ago almost, on the 250R was like 3K.
 
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Last month I got a quote for $907 a year for insuring full-cover theft/fire a 2011 Ninja 650R, this was from Duffy Insurance (Jevco).
 
I wrote a sticky about cancelling a TD policy and it explains their unconventional premium earning schedule.
 
Berreta said:
I'm also 20 with M1 and I'll share some stuff I've learned with you.

1. Those quotes you got with Duffy are both 1 payment only. Have fun with that.

2. Those quotes you got from TD, and I'm not too sure of this but just a heads up in case, are probably only until the end of the season (until FEB I think the lady told me). You're probably going to get 2-3 months of riding for $2.5k. Is that worth it? Again just a heads up, I'm not too sure of that look it up.

Oh an F*** insurance.
Click to expand...

1 payment only? They also have 4 month payments if you ask them.

Hey guys, who does this guy sound like?
 
rideitlikeyoustoleit said:
1 payment only? They also have 4 month payments if you ask them.

Hey guys, who does this guy sound like?
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It depends on which insurance company they quoted you with.

I gave them a call a couple months back and they gave me a quote for $3500 but it is one payment only.

(Got my M1 in Jan, 19 yrs old, 1 minor ticket, 1 at fault accident both in a car.)
 
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Sushii said:
Yes, TD renews all motorycle (maybe cars.. not sure) starting from Feb. So if you start in december, the policy will expire in Feb or if you start now, it'll still expire in Feb. Thats how it works...
Click to expand...

I recently got insured by TD Meloch Monnex. I don't know if payments are made differently than other companies, but I pay 4 times annually and terms run from FEB - FEB of the next year (12 months). I insured my motorcycle in July, and they quoted me a cheaper annual rate because I'd only have less than half of the riding season left. So yes, the term still expires in FEB, but they take into account how many months you've missed out on. So I'm happy with what I have.
 
20 year old with m2, i got partial coverage from jevco for a 2011 kawasaki 250 for $1960.... and full coverage would have been 2450 im not sure how ur driving record is but i have one minor speeding on mine. PM me and ill give u the number of my insurance broker
 
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