Riders with Simliar Riding Stats ...Any Insurance Company Recommendiation? | GTAMotorcycle.com

Riders with Simliar Riding Stats ...Any Insurance Company Recommendiation?

hedgehog88

hedgehog88

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Hi,

First, my riding stats:
-26 Years Old
-Male
-Live in Toronto
-M1 licensed May 2012, taking course and attempting M2 in July
-Full G licensed
-9 years driving experience
-Clean driver, no accidents/tickets

I am hoping someone can recommend me an insurance company that can give a decent low quote for a Suzuki GS500F '08. Or if there is a broker/agent with experience with motorcycles that they can direct me to. I have called a few companies already, and the lowest quoting i got was from RidersPlus at $1550 basic liability. Other companies quoted me $2300-$3000! I waited till I was over 26 to get a bike hoping age would make a big factor in pricing, but it doesn't seem so now. :( The insurance seems to be the killer to a fun time or no fun time.

I have read a few posts today and noticed a lot of under age 25 riders are getting rates under $1000. Is that possible with my stats and that I'm not looking hard enough, or should I be expecting around the $1500 mark?

Any and all information would be greatly appreciated. :)

Please note, I have read all the stickies, and now am just asking for some recommendations from you fine experience riders. :)

Thank you!
 
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Take the 1550 for the year, shop again at renewal time. I went with Jevco for my first year, and switched to State Farm for my second year.
 
Definitely call State Farm, There qualifications are They don't care how long you have had your M class license, over 25, G for 5 years and if you bring a car to them as well they will take 40% of the bike policy.

In kitchener I got quoted $1,200 full coverge without my car and $800 with my car.
 
Thanks guys.

I don't know if State Farm asked you when you first requested a quote but they requested me for my driver's license in order to do a history check. :S No other insurances companies I've called requested that information, so is that unusual to reveal something like that for just asking for a quote? Is every State Farm agent different when it comes to quoting?
 
Well if you're switching, they're going to get it either way. They do a drivers abstract before they quote you.
 
Nah, I'm new to riding. :)

Ok, just find it odd of all insurance companies I've called they request it.

I'll give them a call then tomorrow. Hopefully something a bit lower. *cross fingers* I have a feeling living in Toronto may be the cause, on top of me being a new rider.
 
My buddy lives at kingston rd/woodbine ave. Similar info as you but with a sv650 and pays $155/mo with full coverage from state farm.
 
State Farm is probably your best bet for the first year. After your first year, another company will likely be able to beat State Farm on that bike.
 
Thanks, VifferFun.

Would you know if the rates change after a month? Say if I sign up with an insurance company in July instead of June? I want to get the most riding of the first year, but haven't been to a training course yet, not till July.

Also, to be considered having 1 year riding experience would it start from when I get my M1, or when I complete my M1exit? For example, I got my M1 at the beginning of this month (May), so would next year May be my 1 year mark?
 
hedgehog88 said:
Hi,

First, my riding stats:
-26 Years Old
-Male
-Live in Toronto
-M1 licensed May 2012, taking course and attempting M2 in July
-Full G licensed
-9 years driving experience
-Clean driver, no accidents/tickets

I am hoping someone can recommend me an insurance company that can give a decent low quote for a Suzuki GS500F '08. Or if there is a broker/agent with experience with motorcycles that they can direct me to. I have called a few companies already, and the lowest quoting i got was from RidersPlus at $1550 basic liability. Other companies quoted me $2300-$3000! I waited till I was over 26 to get a bike hoping age would make a big factor in pricing, but it doesn't seem so now. :( The insurance seems to be the killer to a fun time or no fun time.

I have read a few posts today and noticed a lot of under age 25 riders are getting rates under $1000. Is that possible with my stats and that I'm not looking hard enough, or should I be expecting around the $1500 mark?

Any and all information would be greatly appreciated. :)

Please note, I have read all the stickies, and now am just asking for some recommendations from you fine experience riders. :)

Thank you!
Click to expand...

Close to me. I was 28 and i have almost exactly the same stats as you and the same bike.

The lowest quote I got was from the personal - at around 875 bucks. but I got a discount through the CBA ( note that my rate was 1300 between the time of my M1 and my M2, so 60 days, then it became the 875)

The second lowest quote I got was State farm I think, at around 1200.
 
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OpenGambit said:
Close to me. I was 28 and i have almost exactly the same stats as you and the same bike.

The lowest quote I got was from the personal - at around 875 bucks. but I got a discount through the CBA ( note that my rate was 1300 between the time of my M1 and my M2, so 60 days, then it became the 875)

The second lowest quote I got was State farm I think, at around 1200.
Click to expand...

Wow, that's low! When I called The Personal, the quoted me $2500.00. :S And that is also with discount because of my workplace perk.

So you receive your $875.00 quote after 60 days (M2)? So that means M1 and M2 makes a huge difference in pricing? How is yours such a low rate then??? Are you in Toronto? When did you get this quote, if you don't mind me asking?
 
I also don't understand how other people are getting quoted so low. I have similar stats as you, but I'm 25, and State Farm quoted me $1800 / year for a 2005 sv650. Does anybody know what company seems to be the best for riders above 25 years of age?
 
hedgehog88 said:
Wow, that's low! When I called The Personal, the quoted me $2500.00. :S And that is also with discount because of my workplace perk.

So you receive your $875.00 quote after 60 days (M2)? So that means M1 and M2 makes a huge difference in pricing? How is yours such a low rate then??? Are you in Toronto? When did you get this quote, if you don't mind me asking?
Click to expand...

Parked at North York, Yonge and Sheppard Area. Time of quote - July of last year. Workplace perk = Canadian Bar Association.

G licence - since 16 with no accidents or tickets in the past 6 years.

I am now in AB and my rate is 500.

Note - I also have my car and house insurance with them.
 
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They asked for you license because your G experience matters with StateFarm where as a lot of other insurance companies only care about your M licensing.

At the same time, they know that they wont get any surprises on your file if theyre pulling up your drivers abstract ;)
 
I have to echo the sentiments of a few others in this thread: State Farm.

When I went with them, I got quoted $120/month on a 600ss with my M1. However, I went with a 125 and I pay $66/month.
 
hedgehog88 said:
Thanks, VifferFun.

Would you know if the rates change after a month? Say if I sign up with an insurance company in July instead of June? I want to get the most riding of the first year, but haven't been to a training course yet, not till July.
Click to expand...

The won't really change much in a month unless something changes in your profile (such as you reach an additional year of licensing, a conviction drops off your record, etc.)

hedgehog88 said:
Also, to be considered having 1 year riding experience would it start from when I get my M1, or when I complete my M1exit? For example, I got my M1 at the beginning of this month (May), so would next year May be my 1 year mark?
Click to expand...

I believe that for most companies, the clock starts the day you get your M1.
 
Pretty much the same as you, I pay $107/mth for my '07 Gsxr600. Maybe they are putting you on the M1 and not the M2. I live in Mississauga though, which also makes a difference.
 
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