Ideal time for me to get a quote?

flameboy182

flameboy182

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I just got my M1 not too long ago and will probably obtain my M2 in a few weeks when I finish my safety course.

I don't have a bike yet and don't plan on riding this year if it's too expensive.

  1. Would it be cheaper for me to just wait a year after I get my M2 before calling around for insurance quotes?
  2. Am I still a new rider in the eyes of insurance companies?
  3. Will I get charged newbie rates?
  4. Should I put off riding until I obtain my full M for the best insurance rates?
I just turned 25. Had my G for 5 years now (licensed 8 years). Perfect record.
 
Depends on what bike you want.

1) Yes it will be cheaper but who says you can't call around now? They don't point a gun to your head and say you HAVE to purchase the insurance since you obtained a quote.
2) You are a new rider in the eyes of anyone.
3) You may get charged newbie rates, you may not.
4) Having your full M doesn't give you any significant discount towards your insurance.
 
You can call around to insurance companies and just ask for a quote.
They also tell you that the prices of the quote that they give you usually only last like 30 days or so before it changes anyways.
Insurance brokers know that people are going to shop around so I don't think they mind when you just ask for a quote.

The only thing that can make your rates more expensive is if you're a male(which I am assuming you are cause ur name is flameboy), the area you live in, and the bike you choose to ride. Being 25, your insurance is also a lot lower than others' premium as well.
 
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Thank you for addressing all of my concerns with your replies everyone. I feel a lot better about asking now.

Now, before I start calling around, is there certain information that I have the right to withhold (things agents don't require) when asking for a quote? What are some red flags I should be aware of?
 
you are 25.

all the factors you mention don't really pertain to you.

when ever you are ready to ride, get quotes.

it really is that simple when you are over 25.

call statefarm. call more than one statefarm agent.

they will get you to move your car and home insurance over too, it will make the bike insurance lower. (or ask for a stand alone bike quote - to compare)


there is no advantage or disadvantage to when you do it given your age.

you are making a mountain out of a molehill. ;)
 
Alright, that sounds like very good advice. I tend to overanalyze things too much sometimes.

I guess all the excitement of being a newbie and just getting into riding is getting to me haha

Thanks again!
 
Since the OP is new to riding but has 5 years of experience with a G, State Farm will most likely be the cheapest in the first year. Next year, after obtaining a full year of M1/M2 licensed experience, the OP might want to shop elsewhere (such as Jevco).

OP, check out my sticky thread entitled "Read before posting" which helps you find the cheapest insurer.
 
in regards to waiting until you get your full M - the graduated licencing system is designed so you get experience at each stage of your M series licence, the test for the full M will be more difficult if you have no experience. it's also a minimum of 1.5 years since you got your M2, depending on time of year there may be no one available to test for a couple months...


there is no time of year that is better than any other time, what matters is the factors that affect your rating such as

age
location
kind of bike (supersport or not)
some times age of bike (particularly for comprehensive coverage)
driving/riding history (tickets, length of licence(s), accidents)
gender (some don't make a distinction)
value of bike
amount of riding to be done (with jevco increasing from 10,000 to 30,000 didn't affect the premium)
employment (some jobs get you a discount)

hope this helps.
 
CruisnGrrl said:
in regards to waiting until you get your full M - the graduated licencing system is designed so you get experience at each stage of your M series licence, the test for the full M will be more difficult if you have no experience. it's also a minimum of 1.5 years since you got your M2, depending on time of year there may be no one available to test for a couple months...
Click to expand...

Actually, I found the M2 exit exam (i.e. the test to get your full M) to be pretty easy. In fact, I think it is easier than the M1 exit exam (to get your M2), but that could just be me.



CruisnGrrl said:
there is no time of year that is better than any other time, what matters is the factors that affect your rating such as

age
location
kind of bike (supersport or not)
some times age of bike (particularly for comprehensive coverage)
driving/riding history (tickets, length of licence(s), accidents)
gender (some don't make a distinction)
value of bike
amount of riding to be done (with jevco increasing from 10,000 to 30,000 didn't affect the premium)
employment (some jobs get you a discount)

hope this helps.
Click to expand...

Some of this is correct, and some of it isn't. I've put together some tables here:
http://www.gtamotorcycle.com/vbforu...that-Affect-your-Motorcycle-Insurance-Premium
 
VifferFun said:
Actually, I found the M2 exit exam (i.e. the test to get your full M) to be pretty easy. In fact, I think it is easier than the M1 exit exam (to get your M2), but that could just be me.





Some of this is correct, and some of it isn't. I've put together some tables here:
http://www.gtamotorcycle.com/vbforu...that-Affect-your-Motorcycle-Insurance-Premium
Click to expand...


Those tables may be correct for your insurance company, but not all companies use the same weighting, ie state farm doesn't make a distinction for super sports and td seems to drop that distinction on older customers.
 
CruisnGrrl said:
Those tables may be correct for your insurance company, but not all companies use the same weighting, ie state farm doesn't make a distinction for super sports and td seems to drop that distinction on older customers.
Click to expand...

On that report it has a seperate column for State farm and Jevco and the rest seem to be generally close to the same.

VifferFun, Great job on the Table,
 
CruisnGrrl said:
Those tables may be correct for your insurance company, but not all companies use the same weighting, ie state farm doesn't make a distinction for super sports and td seems to drop that distinction on older customers.
Click to expand...

The tables point out the differences between companies (particularly State Farm vs. Jevco vs. other). I did not make the tables with my company in mind, but rather with common industry practice, whether that agrees with my company or not. Most companies use very similar rating variables and algorithms for motorcycles (which aren't as sophisticated as they are for Auto insurance). With the exception of State Farm, most companies follow the lead of Jevco when developing motorcycle algorithms and rates.
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