Hi I'm 22 turning 23 in december and I just bought a 2010 kawasaki 250r and I got insurance with TD from october to february. TD charges a % of the premium according to what month of the year it is and their policies always end in february. They charge like 5% of premium for the winter months and something like 20% of the premium per month during the summer. So I got the insurance from now to February for a total of $67 so I can ride a bit during winter and stuff. But coming february I need to switch companies. My parents are from thornhill but I live in hamilton for university and for every quote in any company... insurance with my thornhill address would be about 800-1000/year more expensive than if I used my hamilton address. I got quotes from about 6 different companies and found that desjardins was the cheapest at 2000/year with minimum coverage; all other companies were in the ranges of 3k-4k. SF offered a good rate (2k/year) but you have to be over 25 which I'm not, oh and if you have your car with them your motorcycle insurance becomes 1k/year. After I discarded that option, Riders Plus said they would insure me at 23 years old of age for my 250R (someone mentioned they dont insure sports bikes, but they do... maybe not supersport) for 3.1k/year BUT for the second year it'd go down to 800/year which is really good.
The thing is that many of this companies will only go down after you had one year of EXPERIENCE, and the only way they know if you had experience driving is by counting how many years of insurance you've had, aka having paid for expensive insurance for at least 1 year (I know, I feel like I'm being robbed). If you get your M2 but don't drive for a year, it might go down a little for some companies but not for others and the amount that it'll go down wont be that much either ways.
I'm not entirely sure if I can just get desjardins for my first year then switch to RP for my second year and still get the 800/year rate. I still have to do more research and probably so do you. I just wanted to share my little findings with you and hopefully help you out a bit.
I suggest you look into your parents insurance because that can really help you get a good deal. Look to see if your parents get cheaper insurance because they might be in a big corporation or something of that sort and don't be afraid to call the insurance companies many times. with TD I called over 4 times to give them different scenarios to see what rates they would give me the cheapest insurance and see how their rate system works. *very important* Ask the person you're talking to what things does their company take into account when calculating the rate, because different companies take different things into account (TD cares about CCs and years of experience, SF cares mostly about age, and some company's goes up faster as CC goes up than other companies) and based on the factors that they used to calculate their rate, you can choose which factors you can use to your advantage to bring down the price.
I have heard of people around 21 years old to have 1.2/year with jevco and others have 3k/year so I don't really know how they work, I still need to call them and found out for myself, but I'm going to do that sometime closer to february since quote prices change.
Good luck!! If you have any more questions that I can help you with feel free to ask.
