Completed Motorcycle School, passed M1 Road Test, need help for what to do next!

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After 1 calendar year of being licensed you'll see a significant (25-40%) drop in premiums. Or so I was told by 2 reputable brokers.
 
Wow, that's huge. Yeah, I think I am going to wait at least one calendar year before I practice. Because that drop is exactly what I need lol
 
It doesn't hurt to get quoted this year for next year. I called John Duffy, State Farm (sorry, I don't remember his name) and my parents' insurer, and the rates were much more manageable. If I was willing to pay more for my car with State Farm the bike would be virtually nothing.
 
Thanks, I'll look into that. Problem with me is that I don't have a car to use, and my parents live far away. I was hoping to ride a motorcycle in the spring, summer, and fall, and use the TTC in the wintertime. But regardless, it still sucks that I can't ride for at least a year. Just hoping I don't have to wait until I'm 25, when the insurance goes way down, haha.
 
its jevco will give you a discount after a year of owning m2. other companies would be same . even with jevco the difference would be $500 to $600. i did the same thing and guess what, after a year premiums were up so it wasnt worth to wait 1 year.i waited because i bought my bike end of the season and it didnt make sense to insure it, but you guys still have plenty of time to ride this season. try ridersplus , i heard that they are pretty cheap for new riders as well. state farm is good if you are holding ur G for 6 years. its not worth to wait for a year , its better to start as soon as u are out of the training school. so you wouldnt forget what you have learned there ...
 
try some older bikes 1995 and older , i heard that they are very cheap on insurance . dont give up . if you are thinking riding on highways or group ridings dont get a 125cc.
 
Where do your parents live? A change of address may be in order... Where you live GREATLY affects your rate ;) just sayin'
 
C-Note said:
Where do your parents live? A change of address may be in order... Where you live GREATLY affects your rate ;) just sayin'
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For Auto insurance, sure...not for motorcycle insurance.
 
c-note - Good try, but my parents just moved to Alberta. I might need to talk about to them about the possibility of linking auto insurance with motorcycle insurance, but don't know what they think about it yet.

motorskillet - Thanks! I am going to do some more phoning around next week with those agencies you mentioned. Yeah, I am going to seriously consider an older bike, either now or in the future. It'll just be a starter bike anyways, so I'm not going to worry about wrecking it.
 
Hi Everyone Question. Do you guys think it is okay to buy a used motorcycle right now, and keep it in storage, until I figure out insurance?
 
Wait till late August/September when bikes will drop in price.
 
bigpurplehippo said:
Hi Everyone Question. Do you guys think it is okay to buy a used motorcycle right now, and keep it in storage, until I figure out insurance?
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Just put fire and theft on it. Y not
 
C-Note said:
What are you talking about!??
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Take a few minutes to read the stickies in the Insurance section...then if you're still not convinced, call a broker or StateFarm.
 
bigpurplehippo said:
c-note - Good try, but my parents just moved to Alberta.
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As a student, you could keep your permanent address in Alberta at your parents while you are studying in Ontario. I'd keep my address there as long as possible since all insurance (bike and future car) will be much cheaper there.

I wouldn't bother buying a bike just to keep it stored. It will just depreciate sitting there. And sitting is never good for any vehicle for long periods of time.
 
Don't bother storing - if you can't ride till later anyway, buy late riding season or off-season. You can get some great deals come Oct-Nov. Don't buy and let it depreciate doing nothing.

Agree with others - don't give up yet. Look into older bikes, smaller bikes, etc. Smaller engine displacements will obviously have lower insurance premiums, and unfortunately, that's all a lot of insurance companies look at.

Also keep calling around on the insurance front. Scott Strike State Farm has given pretty good quotes in the past, but their motorcycle guy (Grant Redfern) left for AllState recently, so not sure where you would get better quotes. Worth asking around for. That said, I was told by State Farm that insurance for under-25 riders is triple what it is for over-25 riders (at least on my bike).

At the very least...get your M2, and get some tenure on it. Your rates will come down come next year just by virtue of holding an M2, even if you never rode an inch with it.
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