Question about insurance

M

miker313

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Gonna be getting a bike for next year, a honda cbr250r. Went to TD for an insurance quote to see if I could even afford a bike before I go out and get my license etc. I told them that when I get my bike, I will have my m2 for a year, be 20 years old and answered all the questions they asked me. He gave me a quote of $2147 per year (180/month) or $1919 a year but no collision deductible or comprehensive coverage.

Is this a good amount to be paying for insurance or is it extremely high? I looked at only a few other companies and they seem to have much higher rates, and TD told me that since im a univeristy student I get some minor discount. All in all is this a good price to be looking at or should i dig deeper into more companies?? if this is a reasonable price should I pay more for the collision etc or no?
Thanks
 
Unfortunately you are under 25 and I'm assuming male so you're just going to have to bend over and take it. My 18 year old son was quoted $5,000 per year for a 2000 Hyundai Accent that he was going to buy for $1000. You may also check out Riders Plus. Another good place is insurancehotline.com the online quotes are pretty accurate, though you'll need to backdate things as they don't calculate future date scenarios.
 
im 24, i pay 160 a month for comprehensive + fire and theft. its all because of my age though, my friend is a year older then me and he pays 65 a month, same company same clean record.

by the way I went with statefarm td quoted me 2800 for the year.
 
no surprise in the quote, it is reasonable
i am 20 (with m2 for a year) and pay 1900 for a ninja 250
 
best thing to do is call around, also if you stick with a certain company for awhile with a clean record they will give you the best rates they can. Just to give you hope, I just got my M1 approx 30 days ago, I'm 29 and have been with state farm since I was 16, bought a 2011 ninja 250 3 weeks ago and I pay just over $400/yr. (full coverage)

Another trick to look into for you younger drivers is any kind of multiline discount the insurance company may offer, when I was 17 and had my first car I signed up for the cheapest life insurance policy I could get with the company and the discount I got was more than the price of the life insurance policy which dropped my rates overall.
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