50+ insurance options with clean record

[stangn99]

My dad has been looking for insurance for a recently purchased cruiser. I'm wondering why all the quotes are $850+ /yr.

he is 57, clean record, recent M1..will be getting M2 in June.
He's been licensed in Canada with a G for 19 years and another 10+ years in England.

The bike is an '82 Yamaha XS400cc with 16,000kms on it.

Whats the deal? Why is his insurance almost the same as mine? (i'm 26, cbr 600, 1 minor).

So far SF has been the most expensive. J. Duffy came in the lowest at $860 or so.

The bike was only $650.

[joelsephstalin]

Did you try Wawanesa? They might not insure him with only his M1, but I'd be surprised if he didn't get a lower rate with his M2...

[RichinOville]

Is that for liability only?
On a $650 bike I wouldn't be paying for anything but liability.
But you have to keep in mind that a new rider is a new rider no matter what the age.

[Waldo]

Did you try Wawanesa? They might not insure him with only his M1, but I'd be surprised if he didn't get a lower rate with his M2...

Wawanesa does motorcycle insurance??

[stangn99]

Is that for liability only?
On a $650 bike I wouldn't be paying for anything but liability.
But you have to keep in mind that a new rider is a new rider no matter what the age.

Yes, liability only.
I'm a new rider as well. This is my second season. My first season was just under $1000 for my CBR.

My second season (this season) went up to $1,084 for the same bike with no new infractions.

[stangn99]

Wawanesa does motorcycle insurance??

I didn't know this either. Can someone confirm?

[RichinOville]

Yes, liability only.
I'm a new rider as well. This is my second season. My first season was just under $1000 for my CBR.

My second season (this season) went up to $1,084 for the same bike with no new infractions.

I'm 50, have had a M licence since 1982 but I still pay about $960 for a 750cc bike with full coverage. But then I've had about 3 points on my licence since 1982. :P
Actually I am currently in the longest spell without points that I can remember.
Usually I get a speeding ticket about every 2 or 3 years.

[joelsephstalin]

I didn't know this either. Can someone confirm?

I have my bike with Wawanesa. 1980 CB650C for $577.

[VifferFun]

I didn't know this either. Can someone confirm?

Yes, but not for SS bikes and their eligibility criteria is quite strict.

[VifferFun]

My dad has been looking for insurance for a recently purchased cruiser. I'm wondering why all the quotes are $850+ /yr.

he is 57, clean record, recent M1..will be getting M2 in June.
He's been licensed in Canada with a G for 19 years and another 10+ years in England.

The bike is an '82 Yamaha XS400cc with 16,000kms on it.

Whats the deal? Why is his insurance almost the same as mine? (i'm 26, cbr 600, 1 minor).

So far SF has been the most expensive. J. Duffy came in the lowest at $860 or so.

The bike was only $650.

Your Dad's rate will be high in the first year and will then drop in the second year with Jevco. Did you look at my sticky for other company suggestions?

Also, the value of the bike has little to do with the premium. Your policy is mainly covering your Dad's physical body and liability to hurt others, not the bike. I'm sure your Dad values his life at more than $650.

[stangn99]

Hey guys,
Thanks for the replies!

Viffer yes, i did read your sticky before posting. That's how I obtained most of my info (thanks btw). My dad called Wawanesa. They have the best rate so far. In fact, its almost 1/2 of what others wanted.

His record is flawless, so they are giving him $420 per year.

[joelsephstalin]

My dad called Wawanesa. They have the best rate so far. In fact, its almost 1/2 of what others wanted.

His record is flawless, so they are giving him $420 per year.

Is that with his M1?

[TorontoBoy]

...His record is flawless, so they are giving him $420 per year.

There's still room for his premium to go down. He's an Oldster. After a year he should be paying in the ~$280CAD/yr range if he keeps the same bike and stays out of trouble. The insurance companies still make money off him