Ducati Monster Insurance FYI - first bike

[Repooc]

Hi everyone,

I thought I'd help out the community by posting up some of my research in my process of getting my bike insured.

As you know some companies have recently "re-evaluated" the classification of the Ducati lineup. Luckily, the Monster is no longer "blacklisted" as a supersport... which makes complete sense. This bike will be my first.... I really could not live with myself if I had bought a CBR 125R or a Ninja 250 or 500.

Stats:
Personal - 28 years old, male, married
Location - Durham Region
License - GM2: over 6 years full G, M1 in June 2010, M2 in Sept 2010
Infractions - one 15km/h over speeding ticket in August 2009
Insurance - no claims, no suspensions

Bike:
Year - 2007
Make - Ducati
Model - Monster 695
Displacement - 695cc
Mileage - 9500 km
Title - clear with no lien, currently owned outright (not financed)

I called around quite a few places in an attempt to get the best price. I'm currently insured through TD Meloche Monnex for my home and car, however as you'll see below, they couldn't come close to offering me the best price, even though I would get their "ride and drive discount", home insurance bundle discount, and UW Alumni discount.... pure BS. In fact, their agent told me outright that they do not price-match nor compete with other motorcycle insurers and actually recommended that I look elsewhere.

I've even included the contact names of people I dealt with in case you're also shopping around. It really doesn't hurt to call and get the best bang for your buck. All prices below include taxes.


(Company)
(Contact)
(Phone)
(Liability Only)
(Liability + Fire + Theft)
(Liability + Fire + Theft + Collision)
(Deductable)

Mantha Insurance (Broker)
Meriel
1-800-269-2728 x:241
$1264/yr
$1446/yr
$1834/yr
250

Riders Plus Insurance (Broker)
Mike
1-877-251-4504 x:240
$1710/yr
$1873/yr
$2228/yr
?

StateFarm Insurance
Sandra Pereia
416-783-1919
?
$1547/yr
$1739/yr
1000

StateFarm Insurance
Sabrina
905-426-5959
$1447.04/yr
$1547.10/yr
$1660.77/yr
1000

Surenet (Jevco Broker)
Paul South
1-866-607-6168
$1274/yr
$1422/yr
$1824/yr
250

John R Duffy (Broker)
?
905-479-2013
$1274/yr
$1436/yr
$1824/yr
250

TD Meloche Monnex
?
416-484-1112
$1565/yr
$1606/yr
$1711/yr
1000

In the end, I ended up going with the full coverage at Statefarm (surprise, surprise) for $1,660/yr; which can actually be paid on a monthly basis at $138/month. Working with Sabrina was a total breeze, sent her my documents via email and she turned around the temporary insurance slip in an email in less than a day for me to go and register my bike. She was extremely helpful in the entire process

The bike is fairly new and is in mint condition for an '07, so the extra bit of additional coverage seemed like a no brainer. I suspect that once I pass my full year of insurance and eventually get my full M, these prices will drop considerably

I really hope this info helps the community, if at all try to get more Monsters on the road. Feel free to chime in on the thread if you have any questions.

Cheers,

[VifferFun]

To anyone else in the process of purchasing their first bike, THIS is the way that you research your insurance situation. Congrats Repooc on a successful shopping experience, and enjoy the Monster. Notice how he didn't buy an R6 and then post saying "WTF, why is insurance so expensive?!" This is because he has done his research, and didn't jump on buying the coolest looking bike without research.

FYI, be sure to quote with Jevco again next season, since you will then qualify for their "experienced" rate which will drop your original quote by close to 40% (i.e. Jevco will probably be cheaper than State Farm on the Monster).

[RetroGrouch]

I'm over 40, clean record, licensed/insured for 15 years and paying $626 liability only on my Monster 900. Hurray for Jevco!

[Jag_V4Ape]

Nice bike + I think TD is best for you since their "total package" is just cheaper. You never know when an accident occurs or when bike gets stolen. Take the extra insurance for just a few bucks more. Lifes great

[Repooc]

FYI, be sure to quote with Jevco again next season, since you will then qualify for their "experienced" rate which will drop your original quote by close to 40% (i.e. Jevco will probably be cheaper than State Farm on the Monster).

Oh for sure, shopping around is key to finding the best price. Although some insurance companies do offer "loyalty" discounts... I would still go to the company that gives me the MOST savings. In the end, if you wreck your bike or get it stolen, EVERY insurance company will give you the run around to pay it out... loyalty or no loyalty. Insurance companies seldom like to part with their money just as much as you are.

[dpmachine]

FYI, be sure to quote with Jevco again next season, since you will then qualify for their "experienced" rate which will drop your original quote by close to 40% (i.e. Jevco will probably be cheaper than State Farm on the Monster).

Absolutely. For reference, I was doing an insurance application today, and with Jevco, my first year will be ~2600, and my second year will be ~1600. Part of this is because I'll be moving into a more preferred category (23 years old vs. 22 years old) and because of the 1 year of experience.