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Insurance difficulties

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draze

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About me: Male, 21, University student. Got g1--2008/05, g2--2009/06, g--2011/06, m1--2011/06, m2(completed the safety course, will get it in 60 days after m1).

Motorcycles I want are all 249cc : Ninja 250r, ZZR250, Hyosung gt250r

Area: Kitchener/Waterloo

Went to talk to State Farm broker, they said they won't insure me because I didn't have g1 for at least 5 years????!! Wth? But just because I came I asked for a quote as if I was 5 years g1 licensed. It came up to 1362$/y. Not bad, except I can't get it......

Next was some other 2 brokers that were busy and asked to schedule the appointment....

Then was another broker, that quoted with Jevco 2780$/y.

WTH? Are those the real prices or am I just unlucky so far?
Any advice?
 
The jevco one will prob b your best qoute u can try TD Primmum but I doubt it'll b much better. Insurance companies don't like young riders
 
draze said:
Went to talk to State Farm broker, they said they won't insure me because I didn't have g1 for at least 5 years????!! Wth?
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They probably meant full G, I'm pretty sure. This is a good way for State Farm to filter out the unexperienced people. (remember, doesn't mean you have been driving for 2 years that you are "fully experienced". it's a misconception amongst many young drivers)

The 2700$ quote is, to me, surprisingly a little high for a bike under 250cc. But then again the fact that you just got your M-class license last month probably plays a huge factor in this.

When people around me say "oh I might get a motorcycle one day", my best advice to them is "Then go write your M1 tomorrow and do the course next month to get your M2, then sit on it until you're ready to buy a bike."
The reason for this is because most insurance companies base your motorcycle experience by the amount of years you've had your M-class, whether you own a bike or not during this time.

I got my M2 in 2009 but got my first bike this year. My insurance company wrote me down as having 2 years experience. Probably saved me 2000$.
 
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Unfortunately for young and new riders, insurance costs may put riding out of financial reach. When you are over 25 your rates will be more reasonable.

If you insist on riding before 25, as stated, get your M1 and wait one year. You will have one year's riding experience from Jevco. It sounds dumb, but that's their rule.

On the plus side your choice of bikes is excellent. Before you pay down your cash, call your insurance company and check your rate. Get the quote in writing.
 
State Farm needs 5 years from your G1 to insure you (6 years if you are bundling car, house, etc.) They also rate you based on the CCs of your bike, that's why it's less than $2000.

Jevco on the other hand, they rate you based on 'riding' experience. You quote for $2780 is pretty real. When I started, Jevco wanted $3500 for a 250. Wait a year and it'll drop down under $2000. And no, you're not unlucky, your just inexperienced.
 
All the companies I went to so far, have refused to actually print out or give me the quote, they all said it's going to change any time and they don't want to give it to me.

Ok, if I wait around one year, does it have to be exactly one year? What if I decide to ride in May 2012 and my license is June 2011? Will I still get the discount?

Now I'm getting off topic, but is it cheaper to buy bikes during winter?
 
draze said:
All the companies I went to so far, have refused to actually print out or give me the quote, they all said it's going to change any time and they don't want to give it to me.

Ok, if I wait around one year, does it have to be exactly one year? What if I decide to ride in May 2012 and my license is June 2011? Will I still get the discount?

Now I'm getting off topic, but is it cheaper to buy bikes during winter?
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That's weird, how can they not give you a quote? They don't have to print it, if they give you a quote it's saved in their system. It might also have a reference number.

Not many people sell bikes in the winter. It's easier to buy a bike in the fall (less buyers) but I don't think you will save that much. If it's your first bike make sure you if you buy it in the fall you do it before it's too cold for them to ride it to your place.
 
draze said:
All the companies I went to so far, have refused to actually print out or give me the quote, they all said it's going to change any time and they don't want to give it to me.

Ok, if I wait around one year, does it have to be exactly one year? What if I decide to ride in May 2012 and my license is June 2011? Will I still get the discount?

Now I'm getting off topic, but is it cheaper to buy bikes during winter?
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Can you name these companies? But they are right that it's going to change anytime.

I'm not sure about the one year thing but I hear State Farm gives a 30 days grace period so the May thing is possible.

Yes, bike will naturally be cheaper in the winter. Cheap months appear to be October-December. Expensive months, obviously, are April-July.
 
draze said:
Now I'm getting off topic, but is it cheaper to buy bikes during winter?
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For the type of bike you are looking for, fall is the best time to get your hands one one.
A lot of people that start on 250's keep them for a couple seasons and then get rid of them to upgrade the following year.

If you don't have access to a trailer/pickup truck, follow what jukon said and make sure you buy one before snow hits the ground so that it can be ridden to your house (you can ride it if the seller keeps insurance on it until you get it home). Make sure you have some type of storage area for the bike as well, that will help alot. Garage, shed, paid storage, friend's garage, etc...
 
This is offtopic.

But I am willing to wait for next season. Two things concern me:
1) Like I said earlier I got my m1 in june 22 and will get my m2 august 24. Assuming the riding season starts May 2012, will I get those 8 months 'experience', and get a discount from insurance company or is it fixed to yearly section, rather then quarter yearly, etc....

2)I got my motorcycle safety course and am very eager to start riding while my skills are fresh. I have never even sat on the bike before that course. Will I forget everything during the winter, especially that I never even rode on the street?

Any advices...
 
1) Season can start as early as March. One year from when you get your M1 is when you get a 30%-40% drop (Correct me if I'm wrong). And as I stated before State Farm may give you 30 days grace period so you can get the experienced rate in July 24 2012.

2) It depends on your confidence level. I was licensed for 2 years before even being on a bike. My friend offered to let me ride his CBR600RR. I rode it in the parking lot but I was scared of dropping it. As soon as I got my bike, that's when my confidence level sky rocketed. First ride I did was on the highway to Rosey Toes. It all depends on you.
 
draze said:
This is offtopic.

But I am willing to wait for next season. Two things concern me:
1) Like I said earlier I got my m1 in june 22 and will get my m2 august 24. Assuming the riding season starts May 2012, will I get those 8 months 'experience', and get a discount from insurance company or is it fixed to yearly section, rather then quarter yearly, etc....

2)I got my motorcycle safety course and am very eager to start riding while my skills are fresh. I have never even sat on the bike before that course. Will I forget everything during the winter, especially that I never even rode on the street?

Any advices...
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I got my bike about a year after I did my course. I don't think I forgot much if anything, but as always you need to practice to hone your skills. You shouldn't worry at all about the time between doing your course and your first bike. It's not like the only learning you do is at the course, that's just the beginning.

With regards to insurance I would say just bite the bullet. The first year is going to suck so just make sure you shop around to get the best (cheapest) there is.
 
I'm 21 paying 1800 my third year with a Ninja 250...so no 2700-2800 for first year isn't really that bad. My first year I was paying 3500 at 19...
 
jeero said:
When people around me say "oh I might get a motorcycle one day", my best advice to them is "Then go write your M1 tomorrow and do the course next month to get your M2, then sit on it until you're ready to buy a bike."
The reason for this is because most insurance companies base your motorcycle experience by the amount of years you've had your M-class, whether you own a bike or not during this time.
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Not entirely true. With the exception of Jevco, most companies only consider INSURED experience, not LICENSED experience. Jevco is the exception, since they only require LICENSED experience. Your Jevco experience discount is applied after your first year of licensed experience, and you never get further experience discounts. Most other companies apply the experience discount in three steps -- a discount after one year of insured experience, then another after 2 years, and yet another after 3 years.
 
OP, as the agent pointed out, you don't qualify for State Farm because you haven't had your G-class license for a long enough period of time. Your next best bet is Jevco, but it will be very expensive in the first year. After you have had your M1/M2 for one full calendar year, your rate will drop by nearly 40%.
 
call up TD/primmum and see what they quote you.

if your an engineering student, my friend gave me some great advice. you can sign up as a student member of the peo, and monnex/melloche (same as td but with group discounts) will give you a discount. student membership with peo is free.

you said you were a student in waterloo area, good chance your in engineering haha

good luck
 
I just got insured in this month. G1 for 6 years, I let it expire, just got my g1 and m1 in july. No insurance ever. 250cc TD gave me 990 with theft until feb. Only because I got insured late in the season. I hope they dont charge me 2700 come march/april. Or else Im not gonna start riding until July/Aug.
 
when i got my license @ 19, insurance for a CBR 125 was 2900, now i waited a year @ 20, insurance for a ninja 250 is 1800 (TD online)

lol
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