Please clarify

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30seconds

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So I just got my bike and have two weeks off in October. I am not concerned about the price or refund/if I owe just if the situation is possible. I am trying to go with state Farm because they are month to month.

My birthday is early may next year and I turn 25 and my insurance drops around 50%.

What I am thinking of doing is insuring it for only October this year then cancelling, then in April put the insurance on paying one month of higher rates then they will drop it for me once I turn 25.

I told the broker this and I said he will look into I since I am starting the policy so late in the year it might work.

If it doesn't can I just call another broker, don't be honest and tell them my plan then cancel in November any ways.

What could be the possible re processions for doing this? Am I missing something?
 
30seconds said:
So I just got my bike and have two weeks off in October. I am not concerned about the price or refund/if I owe just if the situation is possible. I am trying to go with state Farm because they are month to month.

My birthday is early may next year and I turn 25 and my insurance drops around 50%.

What I am thinking of doing is insuring it for only October this year then cancelling, then in April put the insurance on paying one month of higher rates then they will drop it for me once I turn 25.

I told the broker this and I said he will look into I since I am starting the policy so late in the year it might work.

If it doesn't can I just call another broker, don't be honest and tell them my plan then cancel in November any ways.

What could be the possible re processions for doing this? Am I missing something?
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As far as I know, cancelling your insurance mid way is shown on your record that you have cancelled. And makes it harder to get insurance later on. Like I said, from what I know. Wait until the insurance guys weigh in.
 
That was my only concern. My broker got back to me said he didn't get approved for the one month. Then I said well.. let's just do it then I'll call you and cancel, he said. I asked what could be a problem with doing this and he said state Farm might not take me next year.. which imo isn't that big of a deal because once I'm 25 I'm not to concerned about the price since I have a ninja 300
 
why even bother for one month, I understand you want to ride, but to do all of this on and off for 1 month seems to be a waste of time and effort, plus it does not look good in the eyes of the Insurance Companies....

Get your insurance in May, pay for it month by month and or a full year and enjoy next season without any worries....

just my thoughts....
 
Motorcycle insurance is heavily weighted to the months we can ride. This means that the insurance premiums for Dec-Mar are low or almost zero. Ask your insurance rep how much of your premium goes towards the winter months. Sometimes what they do is assign the higher premium for the summer and low/no premium for the winter, aggregate your bill for the year, divide by 12, and charge you a set amount per month. If you cancel in Nov you may not have paid them enough for the summer months and they have the right to charge you the additional amount when you cancel.

There may be no benefit in cancelling your insurance from Dec-Mar because your insurance premiums will be zero anyway. If you cannot ride due to winter months the premium will be zero, insurance companies know this, and take this into account. Ask for a refund for winter months and you will receive near zero refund because there is no premium charged.
 
I have two weeks off and just bought it. More then enough reason for me lol.

I will look into TD

I am fine with getting insurance for a year just when I turn 25 it drops by 50% so makes in my mind it makes sense to get it next year and hold it over next winter when my insurance is cheaper
 
I am amazed at these questions your going to be paying virtually nothing in premiums for dec - Mar anyways, but why "cancel" your policy period. Insure the bike now, then come November drop it to fire/theft only for the winter, (so at least your bike is still protected). Then in May, you can shop your policy around and go with the most competitive, Of course this means if the weather turns nice in April you would have to revert to full coverage or just not ride until after your birthday.

The fire/theft only is considered a "policy change" not a cancelation and as such shows you were continually insured. You say your not concerned if state farm won't take you back but you realize that all insurers will be able to see you canceled with SF, if you go that route
 
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If you go with state farm for s month you'll end up paying like 17% of the annual premium for october plus some cancellation penalty too. You don't just pay 1/12th of the premium for a riding month.
 
I thought I had a good understanding of how the SF policy worked but apparently not..

I talked to a friend of mine who owns a insurance brokerage an said they see if another insurance company cancels your policy do to missed payments etc.

I called TD 175$ from now till January. Thanks deejizzle for the recommendation
 
30seconds said:
So I just got my bike and have two weeks off in October. I am not concerned about the price or refund/if I owe just if the situation is possible. I am trying to go with state Farm because they are month to month.

My birthday is early may next year and I turn 25 and my insurance drops around 50%.

What I am thinking of doing is insuring it for only October this year then cancelling, then in April put the insurance on paying one month of higher rates then they will drop it for me once I turn 25.

I told the broker this and I said he will look into I since I am starting the policy so late in the year it might work.

If it doesn't can I just call another broker, don't be honest and tell them my plan then cancel in November any ways.

What could be the possible re processions for doing this? Am I missing something?
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It will drop 50%?
I hope you are right.
Get that in writing.
I find that statement coming from an insurance company laughable.
 
Well they said 150$ before I'm 25. 70 when I turn 25 based on today's pricing. I guess state Farm is changing there system in November from what my broker said.

I have read on many kijiji adds for the 300 people saying 70$ per month insurance so to me it seemed legit.
 
30seconds said:
Well they said 150$ before I'm 25. 70 when I turn 25 based on today's pricing. I guess state Farm is changing there system in November from what my broker said.

I have read on many kijiji adds for the 300 people saying 70$ per month insurance so to me it seemed legit.
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Yes and 100% of Kijiji ads only contain factual information...lol Doesn't matter what others say they are paying. I could theorictically live across the road from you and because my postal code is different I could be paying 75% of what you pay, simply because I am considered in a "different geographical location" according to the insurer.
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