i know how you feel, but you gotta pay to play in this economy
21 y/o with clean record M2: $8600/year insurance on R6 with JEVCO?!
- Thread starter crayonshinchan
- Start date
Statefarm recently changed (this year I believe) the minimum experience requirement from 5 years to 6 years.
LoneRonin
Well-known member
OP where you located?? I just got my Jevco renewal on Ninja 250 its 1800 bucks...I'm also 21 GM2, 2 yrs licensed clean record as far as insurance is concerned. Location Metropolitan Toronto, but really its Mississauga...I haven't done riding school buts I heard Jevco doesn't care
ifiddles
Well-known member
statefarm will insure you with 5 years driving experience...my bf's son who is 21 (22 in august) called them and his 5 years is up in october, so they wouldn't touch him until then...he bought a 1999 cbr600 and ended up going with the cooperators at $3400/year, cash up front...he had quotes as high as $22000/year (full liability, theft, collission)...
Where do 21yo's find $3500/yr for a hobby when they are (presumably) still in school?
From his parents of course, you insurance analyst are ripping us off for insurance, $3500 so ridiculous. More expensive than driving a car. Whats the point, do you get pay more when you set the rates higher? I am very certain ontario has the most expensive insurance in north america. What a shame, the government is trying to promote less carbon footprint yet the insurance is what holding us back most of the time.
ifiddles
Well-known member
actually, he's done school and works full time...
That makes no sense.
LoneRonin
Well-known member
what he means is the government promotes smaller more fuel efficient vehicles to reduce the carbon footprint, but when we get bikes insurance *** rapes us...and the government lets them, particularly in Ontario. Thus making it a much less viable option.
crayonshinchan
Member
I'm located in Richmond Hill, I paid around $1600 last season with Jevco. Exactly same situation as you.
There's really not much else to say about insurance in Ontario, it's been beaten to death. News just came out declaring Ontario roads are the safest in North America but our insurance rates continue to go up year after year. I won't be riding this year or probably not the next because I can't justify paying $3k for a 600cc bike that I can only enjoy for 6-7 months tops, so effectively I pay $600 for each summer month to ride it, in the winter it's sitting in the garage while the insurance companies laugh with our money all the way to the bank.
Motorcycle is no doubt an expensive hobby, but we are simply getting raped by these rates.
It's more expensive than insuring a car because the risk of injury is significantly higher. This is a no-brainer.
My goal is to match premium to risk as closely as possible -- this is the way that we profit the most. If we overcharge, we lose business. If we undercharge, we lose money.
Yes, we do pay some of the highest rates in North America. For the reasons, refer to my sticky thread.
A much as I lose to use the "bikes are environmentally friendly" argument, how many kilometers traveled by bikes in North America are for necessary travel that would otherwise be done in a car? How many kilometers are purely for the pleasure of riding because it's fun? My guess is that bike usage is more heavily weighted to leisure use, which means they might actually be more of a hazard to the environment than if they didn't exist at all.
I started a poll so we can see how GTAM members use their bike (although admittedly, GTAM riders are probably biased to leisure riding as far as the population of all bikers in Ontario is concerned):
http://www.gtamotorcycle.com/vbforu...rcentage-of-your-riding-is-purely-for-leisure
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I'm 21 and just got a ZX6R. The ONLY place that is even close to reasonable is State Farm. I pay 211 a month and its a supersport. Any other company is ridiculous. I called TD and got a 11000 dollar quote.
bengali548
Well-known member
Hey I'm 21 also (1990 ftw) I'm in my first season riding with a clean record (got 2 tickets this year but I'm fighting them)
I only want liability not fire or theft but I'll only have 5 years under my belt come Next may would is there any way I can get a policy from them if so how much (people with similar situations post your rates)
I only want liability not fire or theft but I'll only have 5 years under my belt come Next may would is there any way I can get a policy from them if so how much (people with similar situations post your rates)
when I was 25 and had my M1/M2 it was $720/yr w/ SF for a 03 Ninja 500, now its $1200 (full coverage, collision was only $80 extra) for a 2008 CBR 1000RR with an M2, clean record, cars and house with them too. Jevco gave me something stupid like $8000 for the SS
Venom01
Well-known member
Is there a way make your computer print this automatically when you start a thread that says good insurance for new rider?
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