Insurance for young rider

J

JonatanDan

Member
Hey guys,

I'm looking into getting into riding again, I've been riding since I was 16, however I haven't lived in Canada for the past 5 years and As a result don't have a licence here either. the MTO won't recognize my EU motorcycle license, and as a result I have to start from scratch :(

I'm looking into getting my m2 around april/May, and I was wondering If theres any chance in the world I can even get insured with me being 18 with a "fresh" license, I Will be doing the safety course, and at this point I could care less about what I ride, as long as it fits me (I'm 6'6, 34'' inseam, 250lbs)

I'm looking into older bikes from the 80s-90s as they are much cheaper to buy, and I'm pretty mechanically inclined, but I got a quote from TD meloche at nothing less than 4-5 grand for a year, that would be more than I pay for tuition, are the rates really that bad untill I have more Canadian experience? I've been insured on a car here for the past year and a half, but that doesn't really count for anything, correct?

I really want to ride this season, as I sorely miss it, back in Hungary (where I'm originally from) I paid the equivalent of 600$ for a year of insurance on a 20+ year old MZ250 (oldschool russian? bike)
 
Hey Jonatan,

The rates will be that bad for any bike at that age. In my experience, old bikes don't really get a discount at all, and if you got older than 30 years, you might have problems getting it insured (TD does not do >30 years I believe). If you are 18, the age is the main factor at play with those huge quotes. Only advice I can give you is to get your m2, and wait until you hold it for a year from the date you got your m1. Your rates should drop 40%. THe next big drop comes when you turn 21, which is a ways away.

I would also recommend a bike that is 249cc or lower (like a ninja 250 or cbr 250) since in my opinion, a 125cc bike includes a small drop in rates (5% maybe) that do not justify the lack of power.

Be sure to try the fit of any bike that you consider buying. It is crucial to not get too much bend in the knee, and be able to place feet on pegs, with ability to grip the tank confortably with thighs.
 
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There is no way to get cheap ins at 18 with no driving/ins history.

Get it put on your parents ins like everyone does

ShaqX7 said:
Hey Jonatan,

The rates will be that bad for any bike at that age. In my experience, old bikes don't really get a discount at all, and if you got older than 30 years, you might have problems getting it insured (TD does not do >30 years I believe). If you are 18, the age is the main factor at play with those huge quotes. Only advice I can give you is to get your m2, and wait until you hold it for a year from the date you got your m1. Your rates should drop 40%. THe next big drop comes when you turn 21, which is a ways away.

I would also recommend a bike that is 249cc or lower (like a ninja 250 or cbr 250) since in my opinion, a 125cc bike includes a small drop in rates (5% maybe) that do not justify the lack of power.

Be sure to try the fit of any bike that you consider buying. It is crucial to not get too much bend in the knee, and be able to place feet on pegs, with ability to grip the tank confortably with thighs.
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ShaqX7 said:
I would also recommend a bike that is 249cc or lower (like a ninja 250 or cbr 250) since in my opinion, a 125cc bike includes a small drop in rates (5% maybe) that do not justify the lack of power.
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The price of the bike does justify the lack of power though also the fact that the bike is nimble :)

If you are going to post secondary school, make sure you mention that to TD when getting a quote from them. If it is on their approved list, there would be additional discounts.
If you are looking into the classic cruiser bikes, they are a lot cheaper when it comes to insurance. If you're a sportbike lover and can't get around the 3-4grand for the year, I suggest that you get your M2 and hold it for a year before riding to be qualified for Jevco's "experienced" rates. From waiting a year, my insurance dropped from $3500 to $1900 (20 years old now).
 
JonatanDan said:
PLau, you got insured for 3500$ a year? I guess I could deal with that, I'll suck it up for a year, what bike do you ride?
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My quote for my first year was $3500 but I decided to wait the year asking for a hypothetical quote for if I had my bike for a year. I ride a CBR125 but I also got a quote for a ninja 250. I decided that $4000 for the bike wasn't in my budget when I calculated in my gear as well.
CBR125 policy: $1883
ninja250 quote: $1950 ish....

Another hypothetical quote was when I turn 21 in Fall. It was for around $1300.
 
Damn, makes me really wish I was older, I guess I have a few calls to make, ugh this sucks, I was really looking forward to riding this season :(
 
JonatanDan said:
Damn, makes me really wish I was older, I guess I have a few calls to make, ugh this sucks, I was really looking forward to riding this season :(
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Had that exact same feeling last year lol. With your license matured to 1 year and no more than 2 minor convictions, you'll be looking at around $2000. At least this year gives you time to save up money to prepare for your needs when the time comes. While you wait, you can always take your time and find good deals on gear as well as a bike :P
The bikes usually get cheaper in the Fall anyways.
 
Im in a similar situation Jonatan, nothing but ridiculous rates for young riders. Ontario really needs public auto insurance like BC, Saskatchewan, Manitoba and some other provinces...
 
Nofear said:
Im in a similar situation Jonatan, nothing but ridiculous rates for young riders. Ontario really needs public auto insurance like BC, Saskatchewan, Manitoba and some other provinces...
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Ontario needs a policy that covers less Accident Benefit coverage for it to be in line with the government regulated provinces, its not simply a matter of it being government vs private insurers. Even with the changes they made to the coverages Ontario has the richest insurance policy in Canada.
 
Corey McNeely said:
Ontario needs a policy that covers less Accident Benefit coverage for it to be in line with the government regulated provinces, its not simply a matter of it being government vs private insurers. Even with the changes they made to the coverages Ontario has the richest insurance policy in Canada.
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You can rabble on all about how much coverage you can get in Ontario (I'm guessing that's what you meant by "Ontario has the richest insurance policy in Canada"), but I wouldn't call $200k liability only much coverage at all for $3767 a year (on a Ninja 250 for a new rider with a clean record). I could get more coverage for much less money in any of the provinces with public auto insurance.

It is a matter of being government vs. private at this point, because insurance companies here have stepped way out of line.
 
Nofear said:
You can rabble on all about how much coverage you can get in Ontario (I'm guessing that's what you meant by "Ontario has the richest insurance policy in Canada"), but I wouldn't call $200k liability only much coverage at all for $3767 a year (on a Ninja 250 for a new rider with a clean record). I could get more coverage for much less money in any of the provinces with public auto insurance.

It is a matter of being government vs. private at this point, because insurance companies here have stepped way out of line.
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The part of the policy that is "rich" is your Accident benefit coverage not the Liability. The other government run insurance provinces do not have half the amount of accident benefit coverage. That is why we pay more than other provinces.
 
Corey McNeely said:
The part of the policy that is "rich" is your Accident benefit coverage not the Liability. The other government run insurance provinces do not have half the amount of accident benefit coverage. That is why we pay more than other provinces.
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Nofear is just QQing cause he probably still doesn't understand that insurance doesn't JUST cover his bike or damage to other vehicles.
 
Corey McNeely said:
Thats why I post on here to help out with that understanding....and suppose to also find a place to "rabble on". LOL
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My gf has the same problem as you actually. She's gotta wait a year or be forced to pay 4,000 =(
 
What would be a good insurance company to insure a harley davidson 883 iron.
I called around to get a quote, and they want roughly 3500$ a year. im in my M2 full year.
I'm also new to the forum from Sault Ste Marie Ontario.

I'm also a newer rider, im hoping there is a way to maybe get the rate down to about 1500$ a year plus auto and house. I think that would be fair.

Any help would be great
Thanks guys
 
NoLeafClover said:
What would be a good insurance company to insure a harley davidson 883 iron.
I called around to get a quote, and they want roughly 3500$ a year. im in my M2 full year.
I'm also new to the forum from Sault Ste Marie Ontario.

I'm also a newer rider, im hoping there is a way to maybe get the rate down to about 1500$ a year plus auto and house. I think that would be fair.

Any help would be great
Thanks guys
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That's pretty damn expensive for a cruiser - I thought insurance for cruisers were cheaper, on top of that its up North... I am also guessing you're over 25 years old as you own a nice bike, car, and house.

Is this $3500 for the bike itself or for everything?
 
PLau said:
The price of the bike does justify the lack of power though also the fact that the bike is nimble :)
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not so nimble with 6'6 250lbs guy on it...he'll be faster and more nimble on a bicycle.
OP needs something like the Hyosung GT250r...a full sized, smaller cc bike.
 
LoneRonin said:
not so nimble with 6'6 250lbs guy on it...he'll be faster and more nimble on a bicycle.
OP needs something like the Hyosung GT250r...a full sized, smaller cc bike.
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That... Is true lol
 
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