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The vast majority of insurers in Ontario define their best risk class as 25yo+ (with the except of the TD companies). There may be other companies that use 30yo, but they are definitely the exception to the norm. Generally, once you reach 25yo, your rate will no longer decrease as a result of your increasing age.
Once you are 25yo, your gender doesn't factor into your rates any more. The key drivers of your Auto/Motorcycle rate when you are 25yo+ (in no particular order) is:
- Years Licensed
- Years At-Fault Claims Free
- Convictions History
- Discounts (Multi-product, Multi-vehicle, Renewal, etc.)
- Geographic Location (although more of an impact to Auto Ins than Bike Ins.)
- Vehicle Use (Pleasure, Commute, etc.)
- Annual Mileage
- Motorcycle Class (Sport, Cruiser, etc.)
- Auto/Motorycycle Displacement
- Statistical Frequency/Severity of Auto/Motorcycle claims for your particular model
- Level of Coverage (Liability Limit, Collision, Comprehensive, etc.)
I'm an Actuarial Analyst for a Major Canadian Insurance Company. I analyse claims patterns to determine overall rate changes, as well as relative premium differences by various risk characteristics (eg. age, experience, claims, convictions, usage, etc.)
Unless it's private, please post insurance-related questions in the forum rather than sending me a PM.
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