Insurance rate hikes?

[Minardi]

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Hey everyone,
I just had a small question - it is this time of the year when I am due to renew my insurance, and I was honestly expecting the premiums to decrease, since I got the full-M licence under my belt, and moved further away from downtown areas, but in fact my premiums actually went up by almost $200, up to $2200.
I am under-25, single, living in Ottawa (moved from Toronto), riding a 500cc bike (not a sports bike), so I was always expecting to pay something in the ballpark of $2000, but I also expected the rates to decrease with time, which is what happened for a while until this year. Did some new legislation take effect or something? Is it just my insurance company fleecing me, or is it something that other people have also been experiencing?
Thanks!

 

[PrivatePilot]

Something as little as your postal code can change insurance rates dramatically. If you moved from a good (low-ish risk) postal code in Toronto to a high risk postal code in Ottawa, that could explain it.

Check out the heat map linked in my signature below to see how different things can be from one block to the next.

As for full M vs M2, it doesn't seem to make any difference at all.

 

[bigpoppa]

Hey everyone,
I just had a small question - it is this time of the year when I am due to renew my insurance, and I was honestly expecting the premiums to decrease, since I got the full-M licence under my belt, and moved further away from downtown areas, but in fact my premiums actually went up by almost $200, up to $2200.
I am under-25, single, living in Ottawa (moved from Toronto), riding a 500cc bike (not a sports bike), so I was always expecting to pay something in the ballpark of $2000, but I also expected the rates to decrease with time, which is what happened for a while until this year. Did some new legislation take effect or something? Is it just my insurance company fleecing me, or is it something that other people have also been experiencing?
Thanks!

Shop around.

Just because your company jacked your rates, doesn't mean that rates went up all across the board

A bunch of other ones might give you a much better rate

 

[PrivatePilot]

Shop around.

Just because your company jacked your rates, doesn't mean that rates went up all across the board

A bunch of other ones might give you a much better rate

Yes, of course...should have mentioned that as well. Changing insurance companies in the middle of a term specific to motorcycles can lead either to a refund or a big bill (depending on when you're cancelling and when the policy was started), but moving insurance companies at the end of a term carries no such problems as the monthly weighting is all done.

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