Frusterated | GTAMotorcycle.com

Frusterated

U

Uhlaf

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First time poster, long time lurker but more importantly; a new rider.

As a young man (22) and someone who is new to owning and riding motorcycles (recently acquired M2 via safety course) I am having a hell of a time finding insurance even in the ballpark of reasonable. I've been quoted 8 thousand dollars a year by numerous companies (When they even insure vintage bikes) and am slowly find myself giving up hope on owning, insuring, and enjoying my own motorcycle this season. What I'm looking for is a mid 1970's mid to low size japanese bike (KZ400, CB360T/550) to get me to work and back and maybe do some riding up north, from my past lurking I knew Jevco was my best bet but unfortunately they've been bought out by intact and won't insure me without a car.

Does anyone have any suggestions or company names the could through out?

Thank you in advance

OPERATOR:
Operator Age: 22
Years Licensed on Motorcycle: 2 Months
Number of Claims in last 6 Years: 0
Number of Convictions in last 3 Years: 0
First 3 Characters of Postal Code: L6A
 
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1) you won't get a "reasonable" quote for quite some time.. I'm 21 and have been licensed since 19 and i still feel like insurers are strangling me for everything iv got
2) i don't know anything about the bike you want to insure... but if you are set on getting something this season get a 250cc ninja or anything like that
3) if you do decide to get like a 250 ninja expect to pay between 2500-3500 depending on company, type of coverage etc.

(best advice you're going to get): wait one year. get your m2, and then go about looking for insurance next season - cause you'll have 1 years of m2 + the course, your quote will be SIGNIFICANTLY better

best of luck to you.
 
We've all been there. Just remember - Riding a motorcycle in Ontario is a luxury . It shouldn't be that way, but it is.

I hear of younger rider's paying $4000+ for insurance. Insane.. That's 4 months of rent or mortgage for the majority of people.
 
Sorry dude, we all had to pay to ride at that age. At 25 things should improve. Try this out, it might or might not work. Put the bike under your dad's name and have him go to a company like allstate with his car and bike insurance. This might help you get in to the cheaper companies. Otherwise you're SOL.

GLHF.
 
I'm going to suggest that you get quotes on 250s and see if that is easier to manage financially.

You don't "need" 400cc as your first bike. There is a difference between need and want.

The other thing, and this applies to a lot of people not just your case specifically. There seems to be a lot of people who want bikes from the 1970s as their first bike. This always amazes me that there are so many first season riders out there who know how to fix and maintain 40 year old vehicles, source parts, rebuild anything and everything, etc. Yes, this is sarcasm. Do yourself a favour and buy something that still has replacement parts for sale. They still make retro looking vehicles new.
 
Did you try desjardins? Happy with my rate on a drz400sm. Maybe it's a cheaper bike to insure because its like a dirtbike, not sure. I'm 24, M2 for 2ish years with training course, Burlington area. I'm paying ~1000/yr for full coverage. I'd imagine a 250 of some sort would be the same if not a few $ cheaper?
 
Have you thought about an older bike? I have a 93 VFR750 and pay about $400 for the year (no fire and theft). Those bikes go for about 2k-$3.5k.
 
Yes insurance FRAUD is one way to go..lol of course if you get caught they won't pay out on any claims you make. Plus good luck finding insurance, (if you think they want a lot now), just tell them oh yes I have been canceled do to insurance fraud..lmao

Not sure why people think advising someone to cheat the system and risk it all is a good idea. Lets say your unfortunate like the rider on Yonge a few weeks ago get in a collision and your bike hits and seriously injures a pedestrian and you have NO coverage. You will be paying for the rest of your life. Also under the scenario presented, your "dad" would also need to obtain his M1 licence then his M2. If you get in an accident with the bike say in 120 days they will check. Ooops dad has no motorcycle licence yet he has the bike registered and insured to him, and you had "borrowed" it to run somewhere. Just HOW stupid does everyone think insurers are???LOL.

It is painful, to have to pay these type of premiums but we all had to do it when we started to ride. Perhaps for now a car is a better option. Get you G then in a few years you'll be over 25 and have had your g for 5 years then get a small bike, (125 or 250), to start and you will have a few more options of companies to choose from.

LiNK666 said:
Sorry dude, we all had to pay to ride at that age. At 25 things should improve. Try this out, it might or might not work. Put the bike under your dad's name and have him go to a company like allstate with his car and bike insurance. This might help you get in to the cheaper companies. Otherwise you're SOL.

GLHF.
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hedo2002 said:
Yes insurance FRAUD is one way to go..lol of course if you get caught they won't pay out on any claims you make. Plus good luck finding insurance, (if you think they want a lot now), just tell them oh yes I have been canceled do to insurance fraud..lmao ...

to start and you will have a few more options of companies to choose from.
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Actually, my father has his GM2. The only problem is that we live at different residences, I'm still calling around to try and figure something out, Desjardin you're up next.

Sunspark said:
I'm going to suggest that you get quotes on 250s and see if that is easier to manage financially.

You don't "need" 400cc as your first bike. There is a difference between need and want. ...
They still make retro looking vehicles new.
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I've been looking for modern "pretty" bikes. The only things that keep coming up are TU250x and W650s. Both bikes will go for around 3-5k easy while CB360T while cost you substantially less. I'm also no stranger to cleaning and adjusting carbs and other basic maintenance. I still have my eyes open to new bikes, I'm still scowering around, I will insure, own, and enjoy a bike this year.
 
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If you're ok with buying it in the USA, you can buy a brand new Yamaha SR400 this year 2014 only. It'll have a factory warranty and everything on it will be new. It'll even be 400cc!
 
Naw, he can still be the principle rider. They sometimes makes exceptions for youth to join the company as long as the account is big enough with the entire family. It's not insurance fraud if the father owns the bike and has the policy in his name but the son as the principle driver.

hedo2002 said:
Yes insurance FRAUD is one way to go..lol of course if you get caught they won't pay out on any claims you make. Plus good luck finding insurance, (if you think they want a lot now), just tell them oh yes I have been canceled do to insurance fraud..lmao

Not sure why people think advising someone to cheat the system and risk it all is a good idea. Lets say your unfortunate like the rider on Yonge a few weeks ago get in a collision and your bike hits and seriously injures a pedestrian and you have NO coverage. You will be paying for the rest of your life. Also under the scenario presented, your "dad" would also need to obtain his M1 licence then his M2. If you get in an accident with the bike say in 120 days they will check. Ooops dad has no motorcycle licence yet he has the bike registered and insured to him, and you had "borrowed" it to run somewhere. Just HOW stupid does everyone think insurers are???LOL.

It is painful, to have to pay these type of premiums but we all had to do it when we started to ride. Perhaps for now a car is a better option. Get you G then in a few years you'll be over 25 and have had your g for 5 years then get a small bike, (125 or 250), to start and you will have a few more options of companies to choose from.
Click to expand...
 
LiNK666 said:
Naw, he can still be the principle rider. They sometimes makes exceptions for youth to join the company as long as the account is big enough with the entire family. It's not insurance fraud if the father owns the bike and has the policy in his name but the son as the principle driver.
Click to expand...

Can't have the son listed as principal rider, (they don't reside at the same address). Also the savings in this fashion, (as has been stated by the vifferfun the insurance guy), would be minimal. The policy in this scenario, (If they resided together), would be rated on the principal rider's experience, not the dad's driving history.

Either way seems like the OP is doing things the right way, just may mean not riding this season.
 
He doesn't have to reside in same address to be the principle driver unless the rules changed in the last 4 years. It wasn't meant to get him a cheaper rate via his dad's history, but rather to get into companies that normally wouldn't accept him because of age/experience. He can hopefully get a cheaper rate by being with one of these companies rather than facility.

GLHF

hedo2002 said:
Can't have the son listed as principal rider, (they don't reside at the same address). Also the savings in this fashion, (as has been stated by the vifferfun the insurance guy), would be minimal. The policy in this scenario, (If they resided together), would be rated on the principal rider's experience, not the dad's driving history.

Either way seems like the OP is doing things the right way, just may mean not riding this season.
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http://www.gtamotorcycle.com/vbforu...or-insurance&p=2126966&viewfull=1#post2126966

OPERATOR:
Operator Age: 24
Years Licensed on Motorcycle: 1
Number of Claims in last 6 Years: 0
Number of Convictions in last 3 Years: 2
First 3 Characters of Postal Code: M1H

MOTORCYCLE:
Year of Bike: 1974
Make of Bike: Honda
Model of Bike: CB550
Displacement (CC): 550

PREMIUM:
Insurance Company (Listed on the Pink Slip, not the broker): Scotia
Did you purchase Collision coverage (Y/N)? N
Did you purchase Comprehensive (i.e. Fire & Theft) coverage (Y/N)? Y
Annual Premium: $450

Car and bike only

car was $160/month with them. It was $180ish before but dropped due to multi vehicle discount
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Sunspark said:
If you're ok with buying it in the USA, you can buy a brand new Yamaha SR400 this year 2014 only. It'll have a factory warranty and everything on it will be new. It'll even be 400cc!
Click to expand...

He can't register it here until yamaha sells it in Canada.


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Iceman said:
He can't register it here until yamaha sells it in Canada.


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I don't think that is completely accurate.

I know someone with a red 2009 TU250X that was purchased in the USA and then plated right here. Suzuki never sold the red 2009 in Canada afaik. They started in 2010 or 2011.

According to the RIV database some manufacturers list "all years" or "all models" etc. as ok for import.

Maybe Yamaha is one of the special cases but it does look like Suzuki can import into Canada even if it wasn't sold in Canada in that year..
 
Sunspark said:
I don't think that is completely accurate.

I know someone with a red 2009 TU250X that was purchased in the USA and then plated right here. Suzuki never sold the red 2009 in Canada afaik. They started in 2010 or 2011.

According to the RIV database some manufacturers list "all years" or "all models" etc. as ok for import.

Maybe Yamaha is one of the special cases but it does look like Suzuki can import into Canada even if it wasn't sold in Canada in that year..
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Did suzuki sell the tu250 in canada in 2009? Colour doesn't matter, if the model is sold here it's been approved for import. I don't know a lot about it, just do the research first. There is a guy here who bought a first year RC8 in the US, can't plate it here because it wasn't imported to canada till the following year. Now he has an expensive track bike that he can't seem to recoup his cash on.


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Iceman said:
Did suzuki sell the tu250 in canada in 2009? Colour doesn't matter, if the model is sold here it's been approved for import. I don't know a lot about it, just do the research first. There is a guy here who bought a first year RC8 in the US, can't plate it here because it wasn't imported to canada till the following year. Now he has an expensive track bike that he can't seem to recoup his cash on.
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I have official correspondence with Suzuki Canada from 2013 where they state that the first model year sold in Canada was 2011.

There is a legally plated American 2009 in the GTA.

I think the RC8 guy had a problem at that specific time whether it was with his paperwork or a person and things have changed since then. I can find nothing at all at the CBSA, RIV or Transport Canada that says the year sold matters. All they have is what is eligible for import and what is not.

I see nothing excluding Yamaha, it also says all years and models as long as the requirements like speedometer in KM etc are met.
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