Quick question about insurance

Makarios

Makarios

Member
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I'm just curious how you guys got started with riding and paying insurance. I'm 20 and just got my M1 license but the insurance companies want to charge me over $6000 a year too ride. I've been driving (car) for a few years now and I've never been ticketed or in an accident.

If I do my M1 exit test using a friends bike and then just sit on the M2 license for a year or so will the insurance go down by next year or will I actually need to have insurance in the first place if it's ever going to go down. I have some experience as I had my M1 last year (didnt have time to do M2) and rode my friends 500 and his 1000 around.


Short story:
- Insurance too high
- Can I get M2 and wait a year with it
- Will that make my insurance go down for next year even if i dont ride
- Pretty sure insurance broker told me to pepper my angus before giving my quote
 
A) take a course
B) start on a smaller bike... 250 or so.
C) pepper your Angus lol

And yes after a year of m2 it will go down.
 
Agree with the a, b and c above.
What bike were you quoted on for the $6k. Smaller, cheaper bike for the first few years and then go big.
 
BlackBeast said:
Agree with the a, b and c above.
What bike were you quoted on for the $6k. Smaller, cheaper bike for the first few years and then go big.
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I was quoted $6600 for a 2012 Kawasaki Ninja 250r and $8000 for a 1989 Honda cbr600r (I knew I wouldn't afford this bikes insurance but I asked anyways in hopes or a miracle)

I was shocked that it was so high for only a 250. How is someone supposed to start riding with prices that high
 
Makarios said:
I was quoted $6600 for a 2012 Kawasaki Ninja 250r and $8000 for a 1989 Honda cbr600r (I knew I wouldn't afford this bikes insurance but I asked anyways in hopes or a miracle)

I was shocked that it was so high for only a 250. How is someone supposed to start riding with prices that high
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Have you checked the 'Insurance' section of this forum? It has a pretty good sticky on how to pick your insurance company. Some are more noob friendly, some are more SS friendly, etc etc. Definitely call multiple companies - TD (MM if you professional affiliation, Primmum or actual TD), SF, AllState, RidersPlus, Duffy, etc. All have different conditions (i.e. SF requires you to have your G1 license for 5 years and to have G license).

Oh, to answer your other question - yes, getting your M2 and waiting a year will DEFINITELY make your insurance go down a lot.

And edit #2.... why would you look at brand new 250 anyway? Get a used one. You save a lot of money, and the best part - if/when you drop it, at least you won't cry that it was a brand new shiny bike. And you'll sell it within a couple of years anyway to upgrade.
 
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I'm 21

Got my M1 2 weeks ago.
Had my G license for 5 years (in 2 months)
Got quoted $250/month with State Farm for a 09 kawa Ninja 250. Check them out. If not, TD MM had quoted me around $3300/year for that bike. $6000 is insane, who are you getting these quotes from?
 
Tjf said:
I'm 21

Got my M1 2 weeks ago.
Had my G license for 5 years (in 2 months)
Got quoted $250/month with State Farm for a 09 kawa Ninja 250. Check them out. If not, TD MM had quoted me around $3300/year for that bike. $6000 is insane, who are you getting these quotes from?
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So you have had your G for 5 years, plus I bet your car is with SF.
 
You should call around.. I was with Jevco and they gave me a pretty reasonable price but I wouldn't recommend them.. Try Rider's Plus. They also quoted me fairly low on a 500. Regarding having your M2 but just sitting on it for a year, even if you did that, you would still have a high quote when you called to get insurance the following year because you have no insurance history on a bike. It doesn't matter how long you've had your license... it matters more how long you have been insured. If you don't have a history, they look at you as a new rider.
 
It sounds to me like you called your insurance company that you're currently insured with that doesn't want to insure you, you didn't call around, or you used an online quoting system.

Call multiple insurance companies.
 
Tjf said:
I'm 21

Got my M1 2 weeks ago.
Had my G license for 5 years (in 2 months)
Got quoted $250/month with State Farm for a 09 kawa Ninja 250. Check them out. If not, TD MM had quoted me around $3300/year for that bike. $6000 is insane, who are you getting these quotes from?
Click to expand...

I called a broker as well as TD insurance directly
 
I started right before I turned 25. I started on a large bike (comparatively) being my 650R. Until I turned 25 my rates were $430 per month (plus another $120/month I was paying for my car). I was able to afford this because it was only for a few months, I had (have) a decent full time job, and I was still living with my parents at the time. If it wasn't for those things I probably wouldn't have even been able to afford to start on a smaller bike. It's an expensive hobby to get into. Especially when you are young.

Start on something small, cheap, and used. You won't care as much if/when you drop it in that case. That also means you can spend time perfecting your control/slow speed maneuvers and emergency maneuvers in a parking lot or something without worrying as much about how much it'll cost you if you mess up your emergency braking practice and drop it. Plus, it could end up being plenty of fun for you without going larger displacement and then you'll be saving on gas and insurance.
 
unL33T said:
I started right before I turned 25. I started on a large bike (comparatively) being my 650R. Until I turned 25 my rates were $430 per month (plus another $120/month I was paying for my car). I was able to afford this because it was only for a few months, I had (have) a decent full time job, and I was still living with my parents at the time. If it wasn't for those things I probably wouldn't have even been able to afford to start on a smaller bike. It's an expensive hobby to get into. Especially when you are young.

Start on something small, cheap, and used. You won't care as much if/when you drop it in that case. That also means you can spend time perfecting your control/slow speed maneuvers and emergency maneuvers in a parking lot or something without worrying as much about how much it'll cost you if you mess up your emergency braking practice and drop it. Plus, it could end up being plenty of fun for you without going larger displacement and then you'll be saving on gas and insurance.
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I'm also looking at a used 2000 Kawi Ninja EX250. Hopefully it'll be much cheaper. I'll have too give some more people a call later on
 
ViperZ said:
Have you checked the 'Insurance' section of this forum? It has a pretty good sticky on how to pick your insurance company. Some are more noob friendly, some are more SS friendly, etc etc. Definitely call multiple companies - TD (MM if you professional affiliation, Primmum or actual TD), SF, AllState, RidersPlus, Duffy, etc. All have different conditions (i.e. SF requires you to have your G1 license for 5 years and to have G license).

Oh, to answer your other question - yes, getting your M2 and waiting a year will DEFINITELY make your insurance go down a lot.

And edit #2.... why would you look at brand new 250 anyway? Get a used one. You save a lot of money, and the best part - if/when you drop it, at least you won't cry that it was a brand new shiny bike. And you'll sell it within a couple of years anyway to upgrade.
Click to expand...


Allstate won't touch you because of your age. Just a heads up. Td would have been my suggestion.
 
If your under 25 your gonna be paying a lot for insurance.. I got an r6 and Im paying close to 280$ for insurance (3400$ a year) I know its crazy but I was able to save some cash.

My info:
22 yrs old
Scarborough
5 yrs of g license
No ticket/accident/claims
M2
2000 yamaha r6
Live with parents :p
I went with state farm since they gave me the "best" quote.

Riding a bike sure is an expensive hobby.
 
Statefarm gave me the best quote out of td,jevco,duffy,allstate. And I quoted a 250 Ninja. im 24 with 1 ticket
 
even for you age, $6000 is Waaaaay too high of a quote.

TD is a lot tighter this year for some reason. i got rediculous quote from them myself when i bought my SS this year.

i have one bike with Intact (formerly jevco) and my SS with Statefarm.


I would recommend call around. RBC. Statefarm. Riders Plus. and speak to multiple agents from each.

Definitely check out the Insurance Thread on the forum. Good luck.
 
For people with statefarm and don't own a home (i.e. living with your parents) ask them about the "renters policy". If you are able to get that (not sure if there are special requirements to get this policy) they can give you a discount on your motorcycle insurance as if you owned a home (or something like that).
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