Not sure about your lifestyle, but for me at least $170 a month is save-able in other places. Pre-COVID, we definitely spent over that amount eating out, especially in the summer.
Depends on your budget and priorities.
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How much do you pay for insurance?
- Thread starter CHRIS63
- Start date
Not sure about your lifestyle, but for me at least $170 a month is save-able in other places. Pre-COVID, we definitely spent over that amount eating out, especially in the summer.
Depends on your budget and priorities.
I have a better option for him and he can still ride, take a Tim Horton's part-time job 3 hrs every weekend to pay off your bike insurance.
48Connor
Well-known member
Don't get me wrong I'm not hurting for money, I was just putting it in perspective. You get these guys riding 1200cc cruisers riding around the world paying $500/year, and I'm over here riding a 400cc bike like 1500km/yr getting f*cked.
My life hasn't really changed pre vs post covid, though. Still go into the office everyday, still eat out the same. You always need engineers staring at the trades doing work... its an essential service lol
I get what you're saying. I can't imagine new people starting out nowadays with how expensive insurance is even for 250s.
I look back all the time and remember all the stuff I wasted money on and how it could've added up to an earlier/bigger down payment. Possibly saving me 100s of thousands, getting in earlier.
I was shopping around recently and was shocked at some of the quotes for a dual sport. Eventually found a provider with a reasonable rate. Unfortunately the bike had sold.
Point is shopping around makes a big difference and IME only cruisers get the best prices.
Sent from my iPhone using GTAMotorcycle.com mobile app
billng
Well-known member
That explains the dozens of riders I saw out today riding with no plates...
Of course they were up to no good, weaving between traffic at high speeds. I couldn't live the no plate life, would always be looking over my shoulder
Maybe scooters too. I wouldn't mind cheaper insurance but I'm happy now being under $1000/year for a $12000 bike.
When you pay more than 1/3rd of the cost of your bike a year is when its high to me.
In the end, even if you commute heavily it is a recreation vehicle. Paying enough in insurance to buy another bike frequently makes it a difficult pill to swallow.
Relax
Well-known member
For me, my limit is $1/cc regardless of the bike's class or value. I can't imagine paying more for my bike than I do for my car which I can drive every day rain or snow.
Triumph rocket 3 is your best bang for buck bike then.
I'm 24, I don't even have my M2 yet. I just got the M1 last week. I bought a 2003 Vulcan 500 and have been shopping around getting quotes for insurance.
TD- Currently have my home and auto bundled with them. They offered me $1864 to insure my bike even with bundling....
RidersPlus- was recommended from some veteran riders. The best they could get for me was $3600. Wow.
Desjardins- Was my next call because i heard good things from here. They have me at $1024. If i bundle home and auto with them then that brings it down to ~850.
Desjardins was insanely cheaper. The biggest difference was that they consider me "common law" instead of "single". I asked what it would be if i was single and they still had me at ~1400.
I live in Northern Ontario though so I'm sure my location gets me cheaper rates than most southerners in my situation.
TD- Currently have my home and auto bundled with them. They offered me $1864 to insure my bike even with bundling....
RidersPlus- was recommended from some veteran riders. The best they could get for me was $3600. Wow.
Desjardins- Was my next call because i heard good things from here. They have me at $1024. If i bundle home and auto with them then that brings it down to ~850.
Desjardins was insanely cheaper. The biggest difference was that they consider me "common law" instead of "single". I asked what it would be if i was single and they still had me at ~1400.
I live in Northern Ontario though so I'm sure my location gets me cheaper rates than most southerners in my situation.
gp16
Member
Age 25-30
R3
Single
M2 Licensed Late 2020
Safety Course Completed
North of Toronto
Clean Record
~$1500/yr with Desjardins
Basic 1 mil liability
Quotes I've received:
Riders Plus: $1888/year
NFP (Dalton Timmis): Quoted me $1272/yr in 2020, called them back in March 2021 to start insurance for the season and they told me in February there was a rate increase and the new rate is $1888/yr (exact same number as Rider's Plus).
TD: Told me they couldn't give me a quote over the phone because I was a new rider. They said something along the lines that it would take a few weeks to get a quote and that I'd have to go through some sort of process.
Mitchell & Whale: Told me "Honestly, you're getting a really good rate from Desjardins as a new rider" "I can't even come close to the quote they gave you".
Hope that's a helpful ballpark for people like me that have been waiting until they're over 25 to start riding, with a starter bike in 2021.
R3
Single
M2 Licensed Late 2020
Safety Course Completed
North of Toronto
Clean Record
~$1500/yr with Desjardins
Basic 1 mil liability
Quotes I've received:
Riders Plus: $1888/year
NFP (Dalton Timmis): Quoted me $1272/yr in 2020, called them back in March 2021 to start insurance for the season and they told me in February there was a rate increase and the new rate is $1888/yr (exact same number as Rider's Plus).
TD: Told me they couldn't give me a quote over the phone because I was a new rider. They said something along the lines that it would take a few weeks to get a quote and that I'd have to go through some sort of process.
Mitchell & Whale: Told me "Honestly, you're getting a really good rate from Desjardins as a new rider" "I can't even come close to the quote they gave you".
Hope that's a helpful ballpark for people like me that have been waiting until they're over 25 to start riding, with a starter bike in 2021.
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afici0nad0
Guest
^
Thanks for the info.
I too have been getting quotes from Desjardins and their prices have been cheapest, keeping all other things equal.
Thanks for the info.
I too have been getting quotes from Desjardins and their prices have been cheapest, keeping all other things equal.
insurance is a *****.
i'm actually switching from desjardins to TD and its cheaper for me.
thankfully my bike is only 400cc. i pay about 500$ a year (junction neighbourhood) but im also not in my 20s anymore. thank god! i also have 2 tickets (speeding and disobeying road signs or whatever) but both should expire either this or next year so im assuming my insurance should drop a bit more after that.
i'm actually switching from desjardins to TD and its cheaper for me.
thankfully my bike is only 400cc. i pay about 500$ a year (junction neighbourhood) but im also not in my 20s anymore. thank god! i also have 2 tickets (speeding and disobeying road signs or whatever) but both should expire either this or next year so im assuming my insurance should drop a bit more after that.
M2 since 2013??
correct, most people moving to M will see little benefit, it's more likely another year(s) of continuous coverage made the difference.
Karfanatik
Well-known member
My renewal just came through. M2 for close to 5 years, 31 years old, Keele and Wilson area, 1 full year with a 2019 RC390. Went from $125 a month to $100 a month with Echelon through riders plus. Full coverage. I'm pleased with an extra $300 off per year
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