[Resolved] $9000/year Motorcycle Insurance for 18 y/o male normal? | GTAMotorcycle.com

[Resolved] $9000/year Motorcycle Insurance for 18 y/o male normal?

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RogueThrottle

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I am an 18 y/o male looking to get a motorcycle for commuting back and forth from college. I have always been interested in motorcycles and have done extensive research. My problem is with insurance, I have gotten many quotes over the past few days for about $9000/year or $750/month. I have a clean driving record and have even asked about bundles with my parent's plans. Are these normal insurance rates for people my age or should I put off my dreams of motorcycling for a few more years? (I am still new here so sorry if this is in the wrong place) Any input is great, thanks in advance!

Extra Details:
Postal Code: N0B1A0
This would be the first vehicle insured under my name
2 years of driving experience
Assuming I have an M1 (but have tried theoretical M2 quotes)
My insureance for 2005 Ford Focus is $400/month (The Ostric Group with family bundle) (crazy)

Edit:

I spoke with Devin from RidersPlus (reason below) who recommended me to Dalton Timmis. I got a quote for $2800/year for the 2017 Versys X300.
RidersPlus changed their rules to only insure new riders over 21.
 
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Yes this is normal if you are looking at high cc sport bikes. If you live anywhere near the city expect to be paying a minimum of $2k for insurance. You won't get a decent insurance rate on anything over 300cc. Only thing you can do is take the course for a small discount or age 7 years.
 
r3r3r3 said:
Yes this is normal if you are looking at high cc sport bikes. If you live anywhere near the city expect to be paying a minimum of $2k for insurance. You won't get a decent insurance rate on anything over 300cc. Only thing you can do is take the course for a small discount or age 7 years.
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Thx for the reply! I am a bit larger of a person at 6'2" and looking at the Kawasaki Versys X300 as a starter bike. I live 30 min out from Guelph. I understand that I can get my M2 license by going through the Rider Training Institute. I figured I would be able to afford about $300/month but what I have right now is ridiculous.
 
We’re those quotes for the versys? And bought outright with just basic coverage, or full coverage?

And based on you having an M1 and no training (yet), or M2 with training?

Lots of variables.

If you want affordable, get your M2 and training under your belt and look at the 4-10 year old 650cc or below cruiser market, buy outright (no financing) and insure it for just liability. Thats a different ball of wax.
 
That's sick.
Something needs to change and fast.
 
PrivatePilot said:
We’re those quotes for the versys? And bought outright with just basic coverage, or full coverage?

And based on you having an M1 and no training (yet), or M2 with training?

Lots of variables.

If you want affordable, get your M2 and training under your belt and look at the 4-10 year old 650cc or below cruiser market, buy outright (no financing) and insure it for just liability. Thats a different ball of wax.
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I tried some theoretical options and M2 and M1 where the same. For the versys bought outright and basic coverage. Are you sure a 650 would be better?
 
Online quotes are very rarely accurate.
 
RogueThrottle said:
Are you sure a 650 would be better?
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Key word being cruiser. A 650 cruiser is rated very low risk.

Get a quote for M2 with training and a 2009 vstar 650 (to use one example) and get back to us.
 
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I went with riders plus, the quote online was close, I think I ended up about $80ish more a year for both bikes, but with 500 ded instead of the 1000 online quote. Make sure you call in after completing the quote, they can review what you entered and verify it all.

OP like others have said, consider an older under 650 cruiser or street style bike to start, and definitely get your M2 right away, the certificate helps.
 
The system is completely broken if this young man is compelled to pay 9 grand annually on a 6500$ putt-putt equipped with ABS and standard ergo's. Even more broken if his quotes come in significantly cheaper on an early model 650 barcalounger.

If our rates are as high as they are because we are a danger to ourselves, it makes zero difference what model you fell off of.
 
RogueThrottle said:
I am an 18 y/o male looking to get a motorcycle for commuting back and forth from college. I have always been interested in motorcycles and have done extensive research. My problem is with insurance, I have gotten many quotes over the past few days for about $9000/year or $750/month. I have a clean driving record and have even asked about bundles with my parent's plans. Are these normal insurance rates for people my age or should I put off my dreams of motorcycling for a few more years? (I am still new here so sorry if this is in the wrong place) Any input is great, thanks in advance!
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Is this the first time you ever had a vehicle insured under your name? Do you own a car? How long have you been driving?

$9000 is really high for a X300, everyone here probably assumed you were quoting a 1000cc super sport before you mentioned it.


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Trials said:
The system is completely broken if this young man is compelled to pay 9 grand annually on a 6500$ putt-putt equipped with ABS and standard ergo's. Even more broken if his quotes come in significantly cheaper on an early model 650 barcalounger.
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I suspect there's multiple things going on here:

- Didn't get the quote properly for m2 w/training, the quote is actually for M1 with no training or something.
- No insurance history whatsoever and first ever vehicle is a motorcycle?
- Age
- Didn't shop around, just called one place and took that price and assumed all other places will be the same?
- Postal code? We all know certain areas of Toronto are the kiss of death for insurance rates.

Is that rate ridiculous? Sure, but I think there's more pieces to the puzzle that will result in a much better rate once we figure them out.
 
At 18, will be lucky to have much driving experience, let alone riding.

Ever get a quote for auto insurance for an 18 y/o?

It ain’t cheap. Even for an occasional driver of a cage.

So 2 years driving experience. Likely has a G2 for less than a year. New M2.

Insurance is going to be expensive.

It wasn’t cheap to insure my daughter for a 97 Tercel to commute to college.

Can’t imagine what it would cost for two wheels.

Anyways, it’s not just motorcycle insurance, it’s young drivers and insurance in general that is outrageous.

Not $9k but still........





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Trials said:
That's sick.
Something needs to change
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Yeah, but be careful what you ask for...
The only change I could see coming would be more regulation/restrictions aimed at lowering risk.
Things like an even more restrictive graduated licensing system where the gov't mandates how large a bike you can ride and for how long before moving up in CC's or style or whatever...
At least now, If you have the resources you can ride whatever you want... Suck's for those without $$, but... Life ain't fair man.

The way it is now ins. co's are sorta regulating/imposing restrictions indirectly by simply making larger displacement bikes expensive to insure by young/inexperienced people.

Bottom line is no one is going to swoop in and rescue all the under 25's who want to ride grown up motorcycles. Especially while morons like this existimagesX4VHBYEE.jpg
 
I want the federal government to take over vehicle insurance, at least then I know where all my money is going.

Either way if I go to the hospital and they ask I'm telling them 'my horse threw me' <- and if you don't want the nurses and doctors to be brutal on you, you will too.
 
PrivatePilot said:
Online quotes are very rarely accurate.
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I just went to the Riders Plus website just for sh*t and giggles and did an online quote. They were off only $14 a year from what my insurance company charges me right now. So I must say its pretty accurate. It was ironic that I am already with INTACT which is Riders' Plue underwriter. So I think I will stay with my broker, still have not found anyone cheaper than him.
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