Insurance cost for new rider???

[lucascoady27]

Hello,

I'm a 17yr old male, and i'm looking at purchasing a motorcycle, but I have NO CLUE what I will be paying for insurance. I have no experience but I plan on taking the safety course before I even buy a bike, just to make sure I really do want to go ahead and buy one.

I've been looking around at several different bikes, and I have a budget of about $2500 (not including gear of course). I found a few 2007 Honda cbr125r's ($2300), a 1999 Kawasaki Ninja 500r ($2000), a 1981 Honda cb400 ($1700), and basically I'm open to many other bikes around this price range, as long as they arent cruisers or Harleys or anything like that.

I'm simply wondering what I should expect to pay for insurace if I have my M2 licence.

If it would help my case at all, I've been driving vehicles with my G-class licence for over a year and have a clean record. Hoping it wont be much more than $100/month.

Thanks a lot!

[RLapin]

Under 1 year on the M1? You'll be paying 3k+ on the 250...probly round 2k+ for 125...

[lucascoady27]

**OOPS** Meant to put this in the insurance section.

[knowledge]

Around 3 grand (give or take depending on location)...unless rates have gone up or decreased huge amounts.

Go to the insurance section & call up any of the reputable brokers. I can vouch for Avi Singh - very knowledgeable and helpful.

Also, make sure you plan your budget really well and have some money for "in case **** happens". You might get a deal on the bike...but **** happens. Have some extra money on hand to get some work done (if needed).

There are a lot of costs associated. Many people forget to include the registration fee, safety fee, towing/delivery fee, money for oil changes/filters, cleaning products, etc.

Good luck

[lucascoady27]

Thats brutal. I thought motorcycles were supposed to be way cheaper than cars to insure. I mean it'd be about 250-270 to insure me on a car with $2,000,000 liability. I pay $68 a month to be insured on 2 vehicles (2004 gmc sierra 1/2 ton, and 1 1999 Honda CRV), but i'm only listed as an occasional driver. Honestly, how the hell am I going to possibly do that much damage with a bike. I mean I could hit and kill a pedestrian, but what are the chances. Slim. Likely, if anything, i'd just hit a car, dent it, and write off the bike. I just find 200-250 a month a little excessive for a small-midsized motorbike.

[RLapin]

Thats brutal. I thought motorcycles were supposed to be way cheaper than cars to insure. I mean it'd be about 250-270 to insure me on a car with $2,000,000 liability. I pay $68 a month to be insured on 2 vehicles (2004 gmc sierra 1/2 ton, and 1 1999 Honda CRV), but i'm only listed as an occasional driver. Honestly, how the hell am I going to possibly do that much damage with a bike. I mean I could hit and kill a pedestrian, but what are the chances. Slim. Likely, if anything, i'd just hit a car, dent it, and write off the bike. I just find 200-250 a month a little excessive for a small-midsized motorbike.

Yeah, but your insurance pays for the other person too...if you're at fault

Around 3 grand (give or take depending on location)...unless rates have gone up or decreased huge amounts.
Go to the insurance section & call up any of the reputable brokers. I can vouch for Avi Singh - very knowledgeable and helpful.
Also, make sure you plan your budget really well and have some money for "in case **** happens". You might get a deal on the bike...but **** happens. Have some extra money on hand to get some work done (if needed).
There are a lot of costs associated. Many people forget to include the registration fee, safety fee, towing/delivery fee, money for oil changes/filters, cleaning products, etc.
Good luck

+1 on that...got my bike last year for 2.8k, first ride this year...stall on 401...fml, dishing out 600$ to get everything to normal most likely...

[lucascoady27]

Yeah, I mean I understand if i'm at fault that my insurance pays, but it still sucks big balls. Insurance companies have no way to gauge your skill or who you really are, so they just start us all off the same, as if I was "the average teenager" who is just getting a bike to show off, go extremely fast, and pop 100km/h wheelies. Not me. I get ripped hard.

[joelsephstalin]

Yeah, I mean I understand if i'm at fault that my insurance pays, but it still sucks big balls. Insurance companies have no way to gauge your skill or who you really are, so they just start us all off the same, as if I was "the average teenager" who is just getting a bike to show off, go extremely fast, and pop 100km/h wheelies. Not me. I get ripped hard.

Yeah, nobody is the "average teenager."

If your budget is $2500, why don't you take a motorcycle repair course and learn how to fix one. That'll kill some time before the cost of insurance will cost you less. Get your M1 in the meantime, take a riding course. Give yourself a year or two and you'll get lower rates, and you'll save money doing repairs yourself. Then you'll have all this money left over from your budget now to combine with your budget then!

[lucascoady27]

How about we just focus on the cbr125r. Say I rode for my first year on that little bike. What should I expect to pay, being the responsible young man I am, each month with this bike?

After 1 yr with the cbr125, and accident/infraction free (which i PLAN on doing), what would I pay for a 500-650cc touring bike.

Thanks and sorry for all of the questions.

[lucascoady27]

Yeah, nobody is the "average teenager."

If your budget is $2500, why don't you take a motorcycle repair course and learn how to fix one. That'll kill some time before the cost of insurance will cost you less. Get your M1 in the meantime, take a riding course. Give yourself a year or two and you'll get lower rates, and you'll save money doing repairs yourself. Then you'll have all this money left over from your budget now to combine with your budget then!

It sounds like a great idea, and I know that in a few years my insurance rates would drop, but I already have a job and therefore am not really too hard pressed for cash at the moment. I really just want a vehicle to get back and forth from work and school. I was hoping to have a bike as a cheaper (and more fun) alternative for work and for university (next year).

[knowledge]

Yeah, but your insurance pays for the other person too...if you're at fault



+1 on that...got my bike last year for 2.8k, first ride this year...stall on 401...fml, dishing out 600$ to get everything to normal most likely...

Exactly! Btw, I hope you get it all sorted out. I can imagine how much that must suck. Haha...that would explain why your posts don't all have a smiley face today.

Yeah, I mean I understand if i'm at fault that my insurance pays, but it still sucks big balls. Insurance companies have no way to gauge your skill or who you really are, so they just start us all off the same, as if I was "the average teenager" who is just getting a bike to show off, go extremely fast, and pop 100km/h wheelies. Not me. I get ripped hard.

Unfortunately, that's how it is. And I think it works pretty well. Most people are weeded out by the high insurance costs, including most "average teenagers". The only ones left are the ones who really want it or the rich kids who are average teenagers . Better than nothing, I guess.

Look into writing your m1 & doing your m2 asap. Insurance will drop a bit for you because of Jevco's new policy in a year from whenever you write your m1. I was quoted for around 3k last year. This year I'm paying 2055 because having the licence for one year now counts as riding for 1 year.

I originally had 3k saved, so then I had some extra money to take a summer course/buy some things for my bike.

edit: stop asking for insurance estimates and call a broker for a quote. We can help you out with planning/all that other crap...but we already gave you ballpark estimates. Call a broker!

[joelsephstalin]

It sounds like a great idea, and I know that in a few years my insurance rates would drop, but I already have a job and therefore am not really too hard pressed for cash at the moment. I really just want a vehicle to get back and forth from work and school. I was hoping to have a bike as a cheaper (and more fun) alternative for work and for university (next year).

Get an old bike and mess around with it yourself and it can be pretty cheap.

[VifferFun]

Thats brutal. I thought motorcycles were supposed to be way cheaper than cars to insure. I mean it'd be about 250-270 to insure me on a car with $2,000,000 liability. I pay $68 a month to be insured on 2 vehicles (2004 gmc sierra 1/2 ton, and 1 1999 Honda CRV), but i'm only listed as an occasional driver. Honestly, how the hell am I going to possibly do that much damage with a bike. I mean I could hit and kill a pedestrian, but what are the chances. Slim. Likely, if anything, i'd just hit a car, dent it, and write off the bike. I just find 200-250 a month a little excessive for a small-midsized motorbike.

Most of your premium is for covering damages to your body. On a motorcycle, even the smallest collision can be catastrophic to the rider. Check out the quotes when you receive them . . . Accident Benefits will be the bulk of the premium. We group all 17-19 year-olds together when looking at claims experience. Statistically speaking, you are an average teenager until you develop a driving record that proves otherwise.

Motorcycles are not cheap to insure and keep. If you're looking for cheap transportation, I suggest you get a Toyota Corolla or something that you can use year round.

As knowledge mentioned, if you're serious about getting a bike in the future, then take a course this year and get your M1/M2 . . . your rates will be quite a bit cheaper next year.

[RLapin]

How about we just focus on the cbr125r. Say I rode for my first year on that little bike. What should I expect to pay, being the responsible young man I am, each month with this bike?

After 1 yr with the cbr125, and accident/infraction free (which i PLAN on doing), what would I pay for a 500-650cc touring bike.

Thanks and sorry for all of the questions.

125 -> 600? I think that will hurt quite a bit =)
The 125 with 0 years on M1 should be around 2-3k (call broker, much easier to find out) but going for 600 even non-SS after just one year...I think you'll be back at 3-5k =(
My plan is to keep this 250, get M...then see what happens with rates...not paying anything above 3k/year for more than a couple months, that's for sure...