Interested in riding, worried about insurance (Bike / CC Categories)

MotorPuppy

MotorPuppy

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Hi, I am 25, Ontario-born citizen. I have experience riding motorbikes and dirtbikes and wanted to get my own. I currently only have my G1 but I am getting my G2 this spring (lived in the city my whole life and never really needed the license 😅).

I am curious what a rider like me (25 and up, but with no insured experience riding) could expect for insurance for each category of bike. I am working on my M2, and I plan on purchasing a bike and insurance once I get it.

I was wondering what different bike categories tend to be the cheapest to insure, and what bikes would be appropriate to look at in each category.
I was hoping to get a bike with ~600CC but I might have to change my mind due to insurance. I can see some insurance companies have different 'categories' of bikes they classify, for example a 1000+CC Goldwing is insured for cheaper than a 1000+CC sport bike. But I also see some reports that just go by CC alone, and was hoping to get some clarification from others before shopping around.
For example, I wanted to get a KLR 650, but I have been hearing reports that my insurance might be crazy as I am a Toronto resident currently.

I have no interest in sport bikes or sport-styled bikes (sport touring, etc), I am looking mostly at dual-sports that can commute well and occasionally go on light trails, but I am also considering cruiser type bikes that are very comfortable for longer rides.

Does anyone have any suggestions for insurance companies that would be appropriate for a rider like me? Or if someone who was in similar shoes could share their insurance experience?

PS. What would insuring a vintage/classic bike cost for a new rider? (80's-2000's). Has anyone done it before?
 
MotorPuppy said:
Hi, I am 25, Ontario-born citizen. I have experience riding motorbikes and dirtbikes and wanted to get my own. I currently only have my G1 but I am getting my G2 this spring (lived in the city my whole life and never really needed the license 😅).

I am curious what a rider like me (25 and up, but with no insured experience riding) could expect for insurance for each category of bike. I am working on my M2, and I plan on purchasing a bike and insurance once I get it.

I was wondering what different bike categories tend to be the cheapest to insure, and what bikes would be appropriate to look at in each category.
I was hoping to get a bike with ~600CC but I might have to change my mind due to insurance. I can see some insurance companies have different 'categories' of bikes they classify, for example a 1000+CC Goldwing is insured for cheaper than a 1000+CC sport bike. But I also see some reports that just go by CC alone, and was hoping to get some clarification from others before shopping around.
For example, I wanted to get a KLR 650, but I have been hearing reports that my insurance might be crazy as I am a Toronto resident currently.

I have no interest in sport bikes or sport-styled bikes (sport touring, etc), I am looking mostly at dual-sports that can commute well and occasionally go on light trails, but I am also considering cruiser type bikes that are very comfortable for longer rides.

Does anyone have any suggestions for insurance companies that would be appropriate for a rider like me? Or if someone who was in similar shoes could share their insurance experience?
Click to expand...
As a new rider, insurance is punishing as size increases. 600 will be crazy. 400 and down will be painful for the first few years but you can sell them for what you bought them for. DRZ may be a good fit for you. For actual prices, an insurance broker is your friend. They run numbers all day.
 
MotorPuppy said:
Hi, I am 25, Ontario-born citizen. I have experience riding motorbikes and dirtbikes and wanted to get my own. I currently only have my G1 but I am getting my G2 this spring (lived in the city my whole life and never really needed the license 😅).

I am curious what a rider like me (25 and up, but with no insured experience riding) could expect for insurance for each category of bike. I am working on my M2, and I plan on purchasing a bike and insurance once I get it.

I was wondering what different bike categories tend to be the cheapest to insure, and what bikes would be appropriate to look at in each category.
I was hoping to get a bike with ~600CC but I might have to change my mind due to insurance. I can see some insurance companies have different 'categories' of bikes they classify, for example a 1000+CC Goldwing is insured for cheaper than a 1000+CC sport bike. But I also see some reports that just go by CC alone, and was hoping to get some clarification from others before shopping around.
For example, I wanted to get a KLR 650, but I have been hearing reports that my insurance might be crazy as I am a Toronto resident currently.

I have no interest in sport bikes or sport-styled bikes (sport touring, etc), I am looking mostly at dual-sports that can commute well and occasionally go on light trails, but I am also considering cruiser type bikes that are very comfortable for longer rides.

Does anyone have any suggestions for insurance companies that would be appropriate for a rider like me? Or if someone who was in similar shoes could share their insurance experience?
Click to expand...
Welcome!

Short version is; it depends.

Long version; far too many factors for us to accurately provide info. Age, location, where you store it, what model, your experience, your driving record and the company themselves are most but not all of the factors.

Dual sport will probably be on the cheaper side of things, if you were looking at say a DRZ400, i'd say you're probably looking at around $200+/month to start which would reduce after your first full year of insurance.
 
Welcome, it's a fun hobby to get into.

IF you want some ideas of insurance costs use TD's online quoting page. It's one of the better ones to get a realistic quote before having to phone in to talk to someone.
 
Welcome to GTAM.

~600-650cc or under cruisers are going to be in the lower (as possible) end of the cost standpoint for insurance. Price out a Vstar 650 for example for one point of reference.

For the v-twin cruiser segment, if that’s the way you go, I wouldn’t go below 500-650cc - they put out waaaay less horsepower than an equivalent sport-based engine for example and smaller than that they can be a challenge for the 400 series highways. Be sure to compare horsepower ratings as CC’s alone do not compare apples to apples, but it is something insurance companies pay attention to a lot.

Good news is this is a great time of year to be considering bike and shopping around for insurance.

Get an M2 course booked asap. What you learn there can and may very well save your life some day, and many insurance complains won’t even look at new riders anymore without it. It is money well spent. But they fill up insanely fast as soon as the weather starts to turn.

Be sure to tell insurance companies when you’re asking for quotes that you’ll have completed the course by the time you’re looking to bind the policy - it’ll make a big difference on the answers and prices you get.
 
MotorPuppy said:
Hi, I am 25, Ontario-born citizen. I have experience riding motorbikes and dirtbikes and wanted to get my own. I currently only have my G1 but I am getting my G2 this spring (lived in the city my whole life and never really needed the license 😅).

I am curious what a rider like me (25 and up, but with no insured experience riding) could expect for insurance for each category of bike. I am working on my M2, and I plan on purchasing a bike and insurance once I get it.

I was wondering what different bike categories tend to be the cheapest to insure, and what bikes would be appropriate to look at in each category.
I was hoping to get a bike with ~600CC but I might have to change my mind due to insurance. I can see some insurance companies have different 'categories' of bikes they classify, for example a 1000+CC Goldwing is insured for cheaper than a 1000+CC sport bike. But I also see some reports that just go by CC alone, and was hoping to get some clarification from others before shopping around.
For example, I wanted to get a KLR 650, but I have been hearing reports that my insurance might be crazy as I am a Toronto resident currently.

I have no interest in sport bikes or sport-styled bikes (sport touring, etc), I am looking mostly at dual-sports that can commute well and occasionally go on light trails, but I am also considering cruiser type bikes that are very comfortable for longer rides.

Does anyone have any suggestions for insurance companies that would be appropriate for a rider like me? Or if someone who was in similar shoes could share their insurance experience?

PS. What would insuring a vintage/classic bike cost for a new rider? (80's-2000's). Has anyone done it before?
Click to expand...
New riders are always best to check with a broker (there are a few good ones that advertise on this site). Some companies offer generous discounts for riders with home and auto insurance bundled with bike insurance, some offer discounts based on your profession.

Insurers don't price bike insurance based on actuarial data - they mostly copy Desjardins and TD MC insurance prices and apply a markup or discount. Generally speaking, here is how insurers look at things:

Age & Marital Status. Price breaks at 25, 30, and 50 years old. Legal common-law and married people also get discounts.

Experience. The first price break comes in at 1 year, but you'll likely need to change companies to get it. I have seen new rider rates drop 20%.
5 years - same thing.

These must be accident-free and they won't care about non-demerit traffic tickets if less than 1/year.

If you have any serious infractions (6 demerit types, leaving the scene, DUI), had a policy canceled, or have ever been accused of insurance fraud - you're looking at facility rates >$10K/year.

Claims: Accidents and at-fault claims whether in a car or on a bike will add a lot to bike insurance. Many motorcyclists decline collision insurance unless the bike is expensive or financed. A single claim can double insurance for years -- meaning if you stay riding after a claim the insurers will get their money back in spades for years!

Residence. If you live in the GTA you'll pay more than outlying areas. If you live in a hot spot like Markham or Brampton, you will pay even more.

Sex. Males (and males that identify as other) pay more than females

Bikes. It will be a little different between insurers. For example, some companies would not insure my Hayabusa at all (TD), others will treat it like a SuperSport (Aviva $2K), and others like a Sport Tourer (DesJardins - $1k). Note: those are my rates, yours aren't likely that cheap.

Insurers rate motorcycles by class, not by displacement. This is not 100% the same from insurer to insurer
  • $$$ Dualsports up to 250CC are the cheapest. Yamaha XT250/TW200, Suziki DR200, Kawi KLX230, Honda XR150
  • $$$$ Cruisers up to 650CC are about the same. Vstar 250, VStar 650, Suzuki LS650, Kawi EL500, Rebel 300/500
  • $$$$$ Adv and Sport Tourers up to 650CC, and midweight Cruisers (except HDs). Versys 650, Vstrom650, CB500, Ninja 400, R3, Tenere 700, BMW 310, KTM 390, Honda Rebel 1100, Suzuki C50
  • $$$$$$ Sport Tourers, Heavy Cruisers: FJR, Connie, BMW K
  • $$$$$$$$ Supersports anything with an R or RR 600CC and up are pricey for a new rider at any age.
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