Upcoming Rider- Insurance Shopping is Fun :/

ecflipz

ecflipz

Member
Hey guys, first post here in GTAM!

I am a car guy that recently took my M2 in Sept for "more fun for less dollar" through motorcycles. The rush you'd get on a motorcycle is nowhere near a car for the money spent.

However, I had no clue how bad insurance was in Ontario and soon realized the motto to be irrelevant. The cherry on top is my novice mistake buying a F4i. I am a Honda guy and got a great deal on it, but didn't know any better, should've gotten insurance quotes first.

I was told by 2 instructors on my M2 exit course that the F4i was their first bike and cheap to insure, especially compared to the RR. I guess that was true 10 years ago.

After many days reading forums and calling insurance companies, below is some info I compiled;

The Personal *Won't insure SS
Rider Plus (Echelon) *Won’t insure SS
Desjardins *Won’t insure SS
Intact *Won't insure SS
Allstate *Won't insure SS
Aviva *Only insure w/ 6 years experience (M License)
The Co-Operators *Motorcycle + Auto Bundle only

I lost count of how many brokers I have called and most have said two things; "We don't entertain coverage for this type of bike" or "5-9k is the annual rate", which I understand as, "We don't want you" ?
The cheapest quote I got is $285 month or $3416 year w/ tax for 3rd party liability. The most I got was $9000 a year which is probably a Facility rate.

Hope this helps for the new/upcoming riders, don't be me lool. Thinking hard on my next move, either selling this bike or take a pause for this season, we'll see.
 
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I feel your pain. Ontario is an unfriendly place for sportbikes. I know it's zero consolation, but you are definitely not the first to run into this roadblock. Before giving up, there are a few brokers here that may be worth trying (the ones that actually pay for ads would be the best place to start), but I wouldn't expect anything super cheap.

The other option is to say eff it to insurance, buy some track fairings and do some track days instead. It's easier on the license, and $3,400 pays for quite a few laps...
 
Priller said:
I feel your pain. Ontario is an unfriendly place for sportbikes. I know it's zero consolation, but you are definitely not the first to run into this roadblock. Before giving up, there are a few brokers here that may be worth trying (the ones that actually pay for ads would be the best place to start), but I wouldn't expect anything super cheap.

The other option is to say eff it to insurance, buy some track fairings and do some track days instead. It's easier on the license, and $3,400 pays for quite a few laps...
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Yeah, I've read countless threads on here and many on Reddit, Ontario is very bad for SS insurance. It's my fault for not reading up first and jumping the gun.

I see the occasional track days with my car, so that's something Ill consider. Ill try a couple more brokers and would gladly take it on if it's $200 or under, but ill doubt that. I've read too much to understand that 3k a year is reasonable for Ontario SS premiums ?

Wouldn't mind getting into naked bikes if that means reasonable insurance pricing.
 
welcome!

3,400 isnt actually bad for your first bike if it's a SS quote, expect it to drop decently after the first year.

unless you`re really tied to the bike then i'd say swap it.

expect to pay a premium for your first year, pretty much regardless of what you decide to go for.

If i were you, sell the f4i and grab a yamaha r3 or ninja 300. it can do 140 on the highway without breaking a sweat and is plenty fast for red light to red light. you can probably expect to pay around $120/month depending on a few factors. the good news is they don't really depreciate and are very popular starter bikes, so they are easy to make almost all your money back on.

Keep your nose clean for a year then look for a middleweight naked;

FZ07
Duke 690
CBR650

etc.

you'll double the hp for a marginal insurance bump.

Just ask if you want more suggestions.

Ride safe, wear gear.
 
Evoex said:
welcome!

3,400 isnt actually bad for your first bike if it's a SS quote, expect it to drop decently after the first year.

unless you`re really tied to the bike then i'd say swap it.

expect to pay a premium for your first year, pretty much regardless of what you decide to go for.

If i were you, sell the f4i and grab a yamaha r3 or ninja 300. it can do 140 on the highway without breaking a sweat and is plenty fast for red light to red light. you can probably expect to pay around $120/month depending on a few factors. the good news is they don't really depreciate and are very popular starter bikes, so they are easy to make almost all your money back on.

Keep your nose clean for a year then look for a middleweight naked;

FZ07
Duke 690
CBR650

etc.

you'll double the hp for a marginal insurance bump.

Just ask if you want more suggestions.

Ride safe, wear gear.
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Thanks! I'm glad to be part of the group.

I would happily get a 300cc like the R3. I purchased the F4i being cheaper than any 300cc bike on the used market. Whether a great beginner bike or not, it made sense dollar per dollar, but that was my first mistake.

I don't expect keep premiums to be cheap being as a new rider, but if it means a small drop from $3400 with a different bike. Hell yeah Ill do it! I'm just excited to start riding. As long as the wallet can take it, any motorcycle will do. Selling the F4i is what I’m leaning towards too.
 
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Hi, welcome to the forum. You know what, I was in the exact same spot as you were. I was looking for a Daytona 675r (have 10+ yrs exp riding back home but a new rider in ON) and the folks on this forum knocked some sense into my thick head :LOL:

F4i was my second choice and I dropped it soon after speaking to a number of insurance agents. If you have a place to store the motorcycle, keep the F4i as a track-only bike and buy a Ninja 300 or an SV650.

I currently own an SV650 and the insurance quotes I received isn't too bad (120-160 pm). Desjardins was the cheapest I received. Like @Evoex mentioned, 3400 isn't bad for an SS if you have no history but still look around I'd say.

Ride safe!
 
If you want inline-4, and are a honda guy, it may be worth considering one of the older naked CB600F's. It was my first bike and relatively cheap on insurance (a lot more than an SS) despite having an older generation detuned 600RR motor in it putting out 97hp i think to the crank. tons of fun for a small light first bike.

*and an sv650, or a gs500 are also great bikes as well if you want cheaper and a twin engine
 
Welcome!

There are so many new guys with insurance questions and it looks like you have done a lot more homework than most. May not have been in the right order but we all do things a bit backwards at times.

Like mentioned above, there are so many other insurance friendly bikes that will thrill you. Part of this hobby is trying to navigate what that looks like. If you are a Honda guy, the VFR is (as least was) an insurance friendly bike. Mind you, I haven't shopped for insurance for a while.

BMW K bikes are also insurance friendly and you can get a used K1200S for a decent price while still getting a lot of bang for your buck.

In short, I would agreee to unload the F4i or store it for down the road and find an insurance friendly bike that still strokes those fun bits. That sounds creepy but I'm not changing it.
 
voyageur said:
Why isn't anyone suggesting the RC390? If I had to pick something in that class, I'd consider it as well.
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I know a few owners, it’s prone to over heat in traffic.
 
justride said:
Give TD bank a call...... wouldn't hurt.
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Yeah I have already! I pretty much called every insurance company possible. They were the second cheapest being at $295 month.
voyageur said:
Hi, welcome to the forum. You know what, I was in the exact same spot as you were. I was looking for a Daytona 675r (have 10+ yrs exp riding back home but a new rider in ON) and the folks on this forum knocked some sense into my thick head :LOL:

F4i was my second choice and I dropped it soon after speaking to a number of insurance agents. If you have a place to store the motorcycle, keep the F4i as a track-only bike and buy a Ninja 300 or an SV650.

I currently own an SV650 and the insurance quotes I received isn't too bad (120-160 pm). Desjardins was the cheapest I received. Like @Evoex mentioned, 3400 isn't bad for an SS if you have no history but still look around I'd say.

Ride safe!
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If money wasn't too much of problem, I would definitely keep the F4i as a track bike! I think best case scenario is to do a complete trade with someone that's offering a 300cc and wants to upgrade. Easy and quick. Ill first test the waters and see if anyone wants to buy the F4i.
voyageur said:
Why isn't anyone suggesting the RC390? If I had to pick something in that class, I'd consider it as well.
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I was actually looking into this bike! I've read stories about the RC/Duke 390, especially 2015-2017 models from head gaskets blowing etc. Unless they revised them, I would highly consider one! Anyone can chime in on newer 2018-2020 models reliability or long term ownership? Great topic for another thread.
Wyled said:
If you want inline-4, and are a honda guy, it may be worth considering one of the older naked CB600F's. It was my first bike and relatively cheap on insurance (a lot more than an SS) despite having an older generation detuned 600RR motor in it putting out 97hp i think to the crank. tons of fun for a small light first bike.

*and an sv650, or a gs500 are also great bikes as well if you want cheaper and a twin engine
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Those bikes I would consider too! Being as a new rider, I am still getting familiar with current motorcycles out rn. New lineup of CB's are promising options.
JZ67 said:
Welcome!

There are so many new guys with insurance questions and it looks like you have done a lot more homework than most. May not have been in the right order but we all do things a bit backwards at times.

Like mentioned above, there are so many other insurance friendly bikes that will thrill you. Part of this hobby is trying to navigate what that looks like. If you are a Honda guy, the VFR is (as least was) an insurance friendly bike. Mind you, I haven't shopped for insurance for a while.

BMW K bikes are also insurance friendly and you can get a used K1200S for a decent price while still getting a lot of bang for your buck.

In short, I would agreee to unload the F4i or store it for down the road and find an insurance friendly bike that still strokes those fun bits. That sounds creepy but I'm not changing it.
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You live and you learn, unfortunately learning the hard way. I have no friends in my circle that rides which made things challenging. Glad I found this forum, everyone is super helpful and lots of great info.
Lightcycle said:
Have you tried Wawanesa? I heard they insure sport bikes up to 1000cc.
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Actually, Wawanesa were the ones that quoted $285 month. Cheapest one so far!

Unless someone can pull some strings, I believe I contacted almost every insurance company. My OP was a short list of the ones that bumped me off. Posted it in case someone needed an list of companies that don't offer SS coverage.

To finalize. TD and Wawanesa were the only ones that offered coverage below 5k.

Thanks for the replies!
 
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Evoex said:
I know a few owners, it’s prone to over heat in traffic.
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Sorta. Its super lean from the factory so it does run hot and the fan turns on more than usual at stop lights. After a tune, it doesn't run as hot and the fan not as frequent. I personally love mine to bits.

Some insurance info though. I live at Keele and the 401 so I consider my insurance cost of $125 a month (RP - Echelon) with an M2 (owned 4 years but only bought my first street bike last summer) a steal for my area. If I were still living with my folks in Whitby, my rate would've been $85 bucks a month. In either case, its an easy pill to swallow for a couple years while I dick around and hone my riding skills.

For comparison, I was also quoted right around $115 per month for an R3 and a Ninja 300. Ninja 400 got me a quote of $135 a month. These are through riders plus. Intact tried to quote something like $3k a year for my RC. Gave em a quick nooope and bounced. You don't have to search hard for insurance if you got the right bike
 
Karfanatik said:
Sorta. Its super lean from the factory so it does run hot and the fan turns on more than usual at stop lights. After a tune, it doesn't run as hot and the fan not as frequent. I personally love mine to bits.

Some insurance info though. I live at Keele and the 401 so I consider my insurance cost of $125 a month (RP - Echelon) with an M2 (owned 4 years but only bought my first street bike last summer) a steal for my area. If I were still living with my folks in Whitby, my rate would've been $85 bucks a month. In either case, its an easy pill to swallow for a couple years while I dick around and hone my riding skills.

For comparison, I was also quoted right around $115 per month for an R3 and a Ninja 300. Ninja 400 got me a quote of $135 a month. These are through riders plus. Intact tried to quote something like $3k a year for my RC. Gave em a quick nooope and bounced. You don't have to search hard for insurance if you got the right bike
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Nice, thanks for the info. How does it do on highways or longer trips? Greatly considering an R3 and RC390.

Are the insurance quotes for full coverage or just 3rd party liability? Those are great rates! I would be plenty happy around $150.
 
All quotes were full coverage. The bike is fine on highways. 120kph was like 7k rpm. It's a single though so it is buzzy. Maxes out right around 170kph. The R3 is likely the better bet on highways being a twin and all that.
 
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