Help with Insurance Quote - Did it online an it said it would cost me $9717/annually!

[7jai]

Hi everyone,

Here's my profile:
Age 26, Male, No tickets or accidents.
G license (for 5+ years).
M2 license (1 year - in April-May 2011) - Did the Riders Training Course.
Insuranced since last year for my 2010 Kawaii Ninja 250r (May 2010 - May 2011).

I recently bought a 2008 Yamaha R6, ~7,500KMS. I'm hoping to get it insured once my 2010 Kawaii coverage is done in May 2011.

I did an online quote, and it said it would be $9717/annually from Jevco??? Is this accurate???

Can anyone help estimate a quote for me? I think $9717 is really ridiculous - unless i'm thinking the wrong way?

Thanks everyone!

[Aslan]

1) Give up, gift both bikes to me.
2) Wrong insurance company, according to the decision sticky, State Farm is for you.
3) A quote from State Farm will be much lower if you also have a car with them, and both of those might be better with other products tacked on, like renters or homeowners insurance.
4) Online quotes can be very wrong, phone or visit human brokers.

[robertojiang]

Jevco has a 400% surcharge on sport bikes. Like Aslan said, get a quote from Statesfarm.

[VifferFun]

The Jevco quote seems about right . . . they have no appetite for SS bike risks. The surcharge is actually now 425% I believe.

Based on your risk profile, with State Farm you can expect to pay roughly $1400/season for a stand-alone bike policy, and about $900/season if you also insure your car through State Farm. These are just guesses though -- I don't work for State Farm.

[7jai]

Thanks for your input guys - I wasn't aware of this crazy markup.

I tried calling statefarm but they keep saying they can't do their quotes here, and that they will get someone to call me back.

Is there a person that you guys would recommend to get an immediate answer from? Thanks everyone for your expert help!

[VifferFun]

Thanks for your input guys - I wasn't aware of this crazy markup.

I tried calling statefarm but they keep saying they can't do their quotes here, and that they will get someone to call me back.

Is there a person that you guys would recommend to get an immediate answer from? Thanks everyone for your expert help!

My agent is located in Niagara-on-the-Lake, even though I live nearly two hours away. I've never met me agent in person, but their communication over email and phone is immediate. I've been very happy with them.

You can contact Erin Chandler (formerly Erin Boyle) at erin.chandler.puow@statefarm.com. She works for the Travis Cairnes agency for Niagara-on-the-Lake.

[rafiki911]

Try Riders Choice too, they gave me a quote $200 cheaper than State Farm.

[GeneralZ]

http://www.gtamotorcycle.com/vbforum...-StateFarmLady

I deal with this statefarm broker. I gave them my information, and they called me back with a quote the same day, by the time they said they would. =)

[VifferFun]

Try Riders Choice too, they gave me a quote $200 cheaper than State Farm.

Rider's Choice has no interest in writing 600CC+ SS bikes . . . there's no point in even calling for a quote with the OP's bike.

[rafiki911]

Rider's Choice has no interest in writing 600CC+ SS bikes . . . there's no point in even calling for a quote with the OP's bike.

Sorry.

[Venom01]

I hope you're ready for a quote that's more than likely over $2000. I know everyone wants a 600 as when they start but regardless if you are an a amazing rider and ready for it or not an as is not a bike for someone starting out. It sucks, I know. I'd think of a bike like that after 3-4 years of insured riding. Even then you will pay a price that's higher than you think it should be. Ill give you an example. I'm 29, riding for 9 years now almost 10. Always insured ever year, no tickets, accidents nothing. I ride a 1981 cb750f. The cheapest insurance I ever got was this year at $1250.

[VifferFun]

I hope you're ready for a quote that's more than likely over $2000. I know everyone wants a 600 as when they start but regardless if you are an a amazing rider and ready for it or not an as is not a bike for someone starting out. It sucks, I know. I'd think of a bike like that after 3-4 years of insured riding. Even then you will pay a price that's higher than you think it should be. Ill give you an example. I'm 29, riding for 9 years now almost 10. Always insured ever year, no tickets, accidents nothing. I ride a 1981 cb750f. The cheapest insurance I ever got was this year at $1250.

This isn't the OP's first bike. Also, $1250/yr seems on the high end for your bike . . . which companies did you quote with when shopping around?

[Venom01]

Viffer, you have been one of the BEST contributors on this site. You give good insight to all our questions and provide great threads for us to inform ourselves about the insurance game. I can't speak for everyone but I would like to thank you for all you efforts to help us understand what's going on.

Going back to the o.p. he said he he had his m2 for a year now and has been riding a small displacement bike. As much as a drop as you get after a year to go from a 125-250cc to a 600 with a season of riding wont slip by anyone quoting this Guy. I'm of corse assuming he lives in the g.t.a. as well. You know his quote is going to be very close or a bit above the $2000 range. Countless threads and personal experience has taught me this. As for my bike I'm pretty sure we have chatted about it here before but from the searches I have gone on for the best price that was the best I could do. Most company's did not want to insure the bike due to its age. I understand why they would do that actually. It was told that because I live in Mississauga it would be quite high as well. I've accepted the fact now finally that I prob won get a decent rate on car or bike untilled I'm an old fart like my father who as had his friend wipe his brand new bike out (deemed not at FAULT) been caught speeding at 180kph (the day before the new h.t.a.kicked in) not to mention other encounters. Still for 2 bikes fully covered my father pays a little under $800 a year. Still over the past few years I've seen people I know over 40 score great rates on ss bikes as their first bikes ($1000 give or take $100) So out my years buying insurance and observing other people around me, I've come to the conclusion that if you want a decent rate, get middle aged and do whatever you want. Mind you it can go to far, some people on this forum think insurance should be cheap as free.

[7jai]

Hey guys,

I appreciate eveyrone's feedback and wonderful advice! I finally got in touch with a few state farm agents, and if I combine the auto with the motorcycle insurance, it's actually ridiuclously low for my 2008 R6!! It came up to $919.xx per annum. I was shocked when they told me that as I was expecting something WAY higher (at least $2K)...

I'm probably going to go ahead and get this done, so thanks again for all your help guys. You've all saved me a substantial amount of money. I'm indebted to you guys!!

[Venom01]

Beware many people here have said they were quoted one thing from state farm only to have them back pedal on the price later. I'm not saying that it'll happen but it might.

[VifferFun]

Viffer, you have been one of the BEST contributors on this site. You give good insight to all our questions and provide great threads for us to inform ourselves about the insurance game. I can't speak for everyone but I would like to thank you for all you efforts to help us understand what's going on.

No problem -- I enjoy helping people out when I can, or directing them to someone else when I can't

Going back to the o.p. he said he he had his m2 for a year now and has been riding a small displacement bike. As much as a drop as you get after a year to go from a 125-250cc to a 600 with a season of riding wont slip by anyone quoting this Guy. I'm of corse assuming he lives in the g.t.a. as well. You know his quote is going to be very close or a bit above the $2000 range. Countless threads and personal experience has taught me this.

The OP qualifies for State Farm and is over 25yo . . . even if he had no prior bike insurance, he could insure an R6 for a very cheap rate with State Farm. The "one year of experience" rule is more for operators under 25yo who are trying to get a cheap rate on a beginner bike with Jevco.

As for my bike I'm pretty sure we have chatted about it here before but from the searches I have gone on for the best price that was the best I could do. Most company's did not want to insure the bike due to its age. I understand why they would do that actually. It was told that because I live in Mississauga it would be quite high as well. I've accepted the fact now finally that I prob won get a decent rate on car or bike untilled I'm an old fart like my father who as had his friend wipe his brand new bike out (deemed not at FAULT) been caught speeding at 180kph (the day before the new h.t.a.kicked in) not to mention other encounters. Still for 2 bikes fully covered my father pays a little under $800 a year.

Oh yes . . . it's the age of the bike that's an issue. In your situation, it might be cost effective to sell your bike, buy something newer, and go with an insurer that will write you for cheaper.

Still over the past few years I've seen people I know over 40 score great rates on ss bikes as their first bikes ($1000 give or take $100) So out my years buying insurance and observing other people around me, I've come to the conclusion that if you want a decent rate, get middle aged and do whatever you want. Mind you it can go to far, some people on this forum think insurance should be cheap as free.

Once you are over 25yo and qualify for State Farm, you can certainly insure a SS bike for a very cheap rate, regardless of whether or not you have any bike experience at all. It doesn't make sense, but that's the way State Farm does it.

[VifferFun]

Hey guys,

I appreciate eveyrone's feedback and wonderful advice! I finally got in touch with a few state farm agents, and if I combine the auto with the motorcycle insurance, it's actually ridiuclously low for my 2008 R6!! It came up to $919.xx per annum. I was shocked when they told me that as I was expecting something WAY higher (at least $2K)...

I'm probably going to go ahead and get this done, so thanks again for all your help guys. You've all saved me a substantial amount of money. I'm indebted to you guys!!

It seems like my original guess in Post #4 was pretty close . . . I was off by $19

"Based on your risk profile, with State Farm you can expect to pay roughly $1400/season for a stand-alone bike policy, and about $900/season if you also insure your car through State Farm. These are just guesses though -- I don't work for State Farm."

[VifferFun]

Beware many people here have said they were quoted one thing from state farm only to have them back pedal on the price later. I'm not saying that it'll happen but it might.

I can assure you that the State Farm quote given to the OP is reasonable . . . he's over 25yo, so State Farm SS premiums are cheap for him.

[Venom01]

Im over 25 (29 ACTUALLY) full GM over 5 Years. No tickets accidents nothing at all. State farm quoted me at $1800 liability only 2 years ago. Am I being punished for something I didn't do? Is it the fact I live in port credit and they assume I got money? I shop so much and no one ever has given me a price lower then what I pay now at. $1200 a year liability only. As for the old bike its getting restored as I plan to buy another newer bike this winter and I want to get it appraised and insured as a classic. How can I find out what's going on here? Its like a party is going on and I'm not invited.

[frekeyguy]

call her up....she has been my agent for the past 4 or so years....its a well run office

Get discount rates without discount service. It's no accident that more people trust State Farm to insure their motorcycles and cars.

Contact our office for a quote today!

Happy riding!

www.carolynmaugeri.com
mail@carolynmaugeri.com
905-426-5959

Call, click or walk in now! We are at 11 Harwood Ave., Ajax.