First Year Insurance - SV650 $$$ | GTAMotorcycle.com

First Year Insurance - SV650 $$$

  • Thread starter Deleted member 50930
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Deleted member 50930

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Motorcycle is a 2006 Suzuki SV650
2 Minor Tickets
1 at fault accident back in 2014
M2 back in 2017 with the training certificate
Age: 27
Region: Waterloo

Full coverage options 1M
  1. Mitchell and Whale insurance brokers - ~$3,500
  2. Surnet Insurance - ~$3,400 Going to try again with a different rep
  3. Surnet Insurance via Paul - Up-front and said he wouldn't be competitive
  4. Desjardins - ~$1241/year with 2M liability :|

Denials
  • Riders Plus Insurance - can't provide you with insurance
  • The Co-Operators Location 1 - SV650s is a sport bike and can't be insured
  • AllState Insurance - Requires you to have 1 year of insurance
  • The Personal Insurance - Group coverage only and was told to try Desjardins

edit - added more info
:cry:
 
Last edited by a moderator:
Get your M, might make a difference given you're under 30. Rate looks expected for your profile and bike choice.

Alternatively, try a smaller bike.

Edit: just noticed you're in Waterloo. Guess rates there are catching up to the GTA now ?
 
First bike, so the tickets and accidents were in a car :)

So I should expect to pay >= $3000 until the tickets expire from my record?

Thank you for the quick responses
 
I'm 22 with an m2 license with 2 tickets on an 04 sv paying about 2100ish a year.
 
Desjardins quoted ~$1200 after spending an hour gathering lots of data

I'm impressed but so confused

This is harder than finding car insurance
 
Are you using online quotes or calling?

I had a SV650N at 26/27 (Im 28 now) and paid $1900/yr for it with no theft on it. Got a CB500X (smaller CC, and ABS) went up to $2.2k/yr now, because of the whole not wanting riders under 6 years exp thing, my record didn't change,

$1,200 on your record with the 650 seems too good, unless staying in sauga doubles the rates.
 
ScorpionT16 said:
Are you using online quotes or calling?

I had a SV650N at 26/27 (Im 28 now) and paid $1900/yr for it with no theft on it. Got a CB500X (smaller CC, and ABS) went up to $2.2k/yr now, because of the whole not wanting riders under 6 years exp thing, my record didn't change,

$1,200 on your record with the 650 seems too good, unless staying in sauga doubles the rates.
Click to expand...

I am calling everybody

I agree 1200 is too good to be true and I don't buy the "not counting" a ticket ...
 
I'm a State Farm convert. Desjardins has come up with some crazy rates for some of my bikes that can't be touched by other companies, so not completely surprised. Also, the "surcharge" (I believe it's a lack of claims-free discount) decreases over time and by 7 years it's not that much. At least that's what my agent told me. Never had a claim on a bike, but had many not-at-fault claims and no major issues.
 
OK, I read the reviews, and they're mostly about price. While I did say I get great rates for some of my bikes, others not so much, which is why I insure them elsewhere (or not at all). I've never had bad customer service with their call center, and in fact on two separate cases the adjuster found me not at fault when it was my word against the other driver's - State Farm would have chalked it up to 50/50. If anything, I have problems with my agent making me feel like I'm gaming the system whenever I try to find ways to decrease my premiums, but she's always been like that, and it's not a Desjardins issue.
 
with a claim + tickets, that insurance sounds pretty good....

since we're sharing i'm paying about $750/yr for liability only
29 y/o with 2 years on the M2

this is with the personal
 
The Dejardins rate is the one to run with for sure if it doesn’t change during the actual underwriting part for some reason, but it does seem low.

Wondering if they’re lining themselves up for a fall like Aviva did this year. Lots of stellar rates with them for the last 2-4 years, but they they jacked and dropped a ton of their MC business this year when they lost money on it all after the fact.
 
george__ said:
Looks like I am going with Desjardins
Click to expand...
Nice! Surprised at the difference in quotes. $1200 seems unreal. About 3 years ago, no tickets and full M, same age as you at the time, I was paying $1600 for a naked ninja 650 in the GTA. I guess being in Waterloo helps.
 
I could be grandfathered from State Farm, but not only do I get discounts from having auto and home insurance with them, I only have the minimum liability required on each policy ($300k?) and have a PLUP (Personal Liability Umbrella Policy) that tops up all of them to my desired coverage and is cheaper overall.
 
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