I officially do NOT understand insurance when I thought I did.

Venom01

Venom01

Well-known member
I've been posting about insurance quotes from time to time, just to compare and a little research. I thought I finally figured out the game until this morning. First off this has been the longest I've gone without my bike as I can't get a good quote this year. After 13 years of clean riding I can not get a quote for my old (but in beautiful shape) '81 cb750f for under $1100. I don't see why not. I'm 30, full M for over 5 years (same as my G license), no tickets or accidents, and my ride may have been SS back then but by no means is one now. I know prices went up for everyone but I've never payed less then $1,300 for basic my entire time riding.

Now, I recently sold my old '81 cm400t to a friends little brother who wants to cafe the bike. I told him get quotes! He did. What quote did he get? $800 a YEAR for a 23 year old with a m2 and no real experience with a bike through an insurance group called the personal. Good for him but WTF!!!!!!! when I was riding that bike the best I was able to do was $1,500 for basic and that was 6 years ago. How is it possible that a noob on a 400cc bike got an orgasmic price like that? I am really about to give up now. I don't feel like any of my clean, no claim, 13 years means anything anymore other then of course my health and well being on the road. To be honest I'd love a rate like that, I'd never complain about insurance again. I'm now just going to assume that my name on the call display comes up as "sucker" when I call brokers.

This is my signature
 
I'm a little curious, because every quote I've ever gotten from The Personal was ridiculous. I always put it down to my age (not 30 yet) but I'm older than that guy! And I have a similar history to you, fully licensed for more than 5 years, clean history, etc.

-Where does the little brother live? (roughly)
-350 cc difference between the CM400T and the CB750F ... neither is a supersport, but it still makes a difference
-Does he have a car tacked on?

P.S. My little brother through Wawanesa pays less than HALF of what I do for motorcycle insurance ... tain't fair. :P
 
I just sold my 82 CB900F, the insurance on that bike was $1100 a year as well, and Im 31.

It is actually cheaper for me to insure a 2007 Suzuki Hayabusa ($99 a month) so I figured hell, if i gotta pay that much for insurance I'm going to get a newer bike.
 
I use the Personal - the rates are great.
 
Venom01 said:
He did. What quote did he get? $800 a YEAR for a 23 year old with a m2 and no real experience with a bike through an insurance group called the personal. Good for him but WTF!!!!!!!
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The personal is a group insurance company. I know through my professional designation that they offer discounted rates. They haven't been able to beat my insurance broker yet...but knowing that they do Moto I might call them again.
 
Ok i got a ? for you guys/girls, i am 25 in august Had, my G for 4 years now no tickets or anything like that but the thinng is i never had insurance before car or bike . is this gonna **** me over?!?!?!
 
TwistedKestrel said:
I'm a little curious, because every quote I've ever gotten from The Personal was ridiculous. I always put it down to my age (not 30 yet) but I'm older than that guy! And I have a similar history to you, fully licensed for more than 5 years, clean history, etc.

-Where does the little brother live? (roughly)
-350 cc difference between the CM400T and the CB750F ... neither is a supersport, but it still makes a difference
-Does he have a car tacked on?

P.S. My little brother through Wawanesa pays less than HALF of what I do for motorcycle insurance ... tain't fair. :P
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-We both live in port credit
- yeah a 750 is quite the step up from a 400 but my 13 years of clean insured riding vs. A noob with an m2 and no experience?
-he does nit own a car.

This is my signature
 
Venom01 said:
-We both live in port credit
- yeah a 750 is quite the step up from a 400 but my 13 years of clean insured riding vs. A noob with an m2 and no experience?
-he does nit own a car.

This is my signature
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hmmm... this is a puzzler. Sounds to me like a piece of the equation is missing.

Is that what he was Quoted on? or is that what he's actually paying?
 
I talked to my buddy, his brother is putting under his fathers name and going to ride it. Is that possible?

This is my signature
 
does he have insurance as well under the bike? or just the father?

The policy will be rated to the greatest-risk rider, so if Daddy and Jr are on the policy, the premium would be based on Jr riding the bike.

Something tells me that with a rate that low, only Dad's insured on the bike and the kid's gonna ride it.

VifferFun could clarify this better.
 
Venom01 said:
-We both live in port credit
- yeah a 750 is quite the step up from a 400 but my 13 years of clean insured riding vs. A noob with an m2 and no experience?
-he does nit own a car.
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I know that continuous insurance history isn't a big factor with motorcycles, even though they ask the question every time. The max it matters is I think 5 years, but for some it doesn't matter at all (Jevco doesn't factor it in, only that you've been licensed a minimum of 1 year kills their new rider surcharge).
 
nfq said:
does he have insurance as well under the bike? or just the father?

The policy will be rated to the greatest-risk rider, so if Daddy and Jr are on the policy, the premium would be based on Jr riding the bike.

Something tells me that with a rate that low, only Dad's insured on the bike and the kid's gonna ride it.

VifferFun could clarify this better.
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I think your suspicions are likely true. Jr. probably asked his Dad to get quotes for him with the intention of NOT disclosing Jr.

When you apply for insurance, you MUST make them aware of all operators in the household and regular operators outside of the household. The insurance company will take the highest-rated operator and assign them as the Principal Operator. If you don't like this, then the high-risk operators could sign an OPCF28a exclusion endorsement/form so that he is NOT insured on the bike under any circumstance (and hence the father can enjoy a lower premium).

If you try to hide an operator from your insurer, this is straight out fraud. May God be with if the insurer finds out mid policy and cancels you due misrepresentation, or you need to make a claim and the insurer figures it out (which is really not difficult to do).
 
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I'm with you Venom01. I do not get the insurance industry. I've had wildly different quotes for the same insurance company but from different brokers.
I'm 49 and still in my first year of my M2. I'm paying just over $1 per Cc for a full years insurance, is $1200 for my Virago 1100S. I have over 30 years
G experience but that should count for nothing on the M. I do not get multi vehicle discount as the auto insurance company doesn't do M if the rider is under 3 years experience. Other riders in my area who have been riding over 20 years are getting the same rate as I am.
 
ask a few more questios of jr. Is he paying full coverage or just PL PD... Also does he have 1million liability or 200 thousand.

Ive got 6-7 years experience (I cant be bothered to do the math... im 23, got my licence (both G1 and M1) on my 16th birthday) and insurance on any bike is just a friggin jooooooke.. Ive got it insured under my father (im listed on the policy but because of my expirerence the broker gave us my fathers price to be fair) from a broker out in the sticks, and its still stupid expensive.)

Hes been riding since before motorcycle licences exsisted in this provence, and i post because im in your area. Insurance makes no sense in this provence. You will NEVER figure it out NO MATTER WHO YOU ARE. if your not working for the insurance company, you will never make sense of it. Try asking for JUST pl pd and 200,000 liability.

I wish you luck, but I doubt you will do any better. prices are just going to keep going up and up and up and up and up, and they wonder why so many people go without it thease days....
 
Kyle said:
ask a few more questios of jr. Is he paying full coverage or just PL PD... Also does he have 1million liability or 200 thousand.

Ive got 6-7 years experience (I cant be bothered to do the math... im 23, got my licence (both G1 and M1) on my 16th birthday) and insurance on any bike is just a friggin jooooooke.. Ive got it insured under my father (im listed on the policy but because of my expirerence the broker gave us my fathers price to be fair) from a broker out in the sticks, and its still stupid expensive.)

Hes been riding since before motorcycle licences exsisted in this provence, and i post because im in your area. Insurance makes no sense in this provence. You will NEVER figure it out NO MATTER WHO YOU ARE. if your not working for the insurance company, you will never make sense of it. Try asking for JUST pl pd and 200,000 liability.

I wish you luck, but I doubt you will do any better. prices are just going to keep going up and up and up and up and up, and they wonder why so many people go without it thease days....
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Your broker is breaking the rules, since you should be the Principal Operator on the bike. If your rate really is "stupid expensive" like you claim, then chances are good that you are indeed the Principal Operator without knowing it.

Dropping to $200K Liability will not reduce your premium much, and exposes you to a lot of financial risk. It isn't worth it. I do the opposite and increase my liability limit to $2M.
 
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