Does this sound ok/good?

[cpgop]

Hi everyone,

I'm 16(turning 17) own a 50cc scooter, and Im looking to get a Honda CBR125, and have my M2

I've called around getting quotes and etc,
Now my question is, Does 3,000 a year sound good for me being 16, and less then a year of riding?

Thanks,
Greg.

[jeffjones]

You probably won't find it any cheaper

[rideitlikeyoustoleit]

Agreed. You won't find it cheaper but it's not worth it. Paying $3000 insurance for a $2000 bike is a waste. See what the quote is if you drop collision. If I were you, I would wait a couple years. But you did a good thing. You got your M2 early.

[Baggsy]

Make sure that you've disclosed everything important to the insurance company before you run out and buy the bike.

Some here have gotten a quote, and then been denied, because they had two or three outstanding convictions.

[VifferFun]

Hey Greg, welcome to GTAM.

Insurance is crazy expensive for someone your age. In my opinion, unless money comes easy (such as a bankrolling parent), buying a bike at this point in your life is an unwise decision. You should be more concerned about putting money away for your education -- your future self will thank you.

With that said, $3000 is reasonable. If you decide to proceed with purchasing a bike, I suggest you wait one full year from the date that you got your M1, and then give Jevco a shot (if you qualify). If you qualify for Jevco, the rate with one (or more) years of experience is nearly 40% less than the inexperienced rate.

Also, another suggestion if you are still considering a bike -- don't feel like you have to get a CBR125 to get the cheapest insurance. Most companies charge the same rate for the CBR125 and the Ninja 250. IMO, the Ninja 250 is a much more versatile bike, and perfect for a beginner.

[cpgop]

Ok thanks every one. Im thinking of getting one, and just letting it clutter my garage for a year, I found one I like for $1,500

The only reason Im looking to upgrade is, I have out grown my little 50cc scooter within the 3 months of owning it. Top speed is only 80, wich im happy with, i'm just tired with the world passing me.(its no fun being stuck on the right side of the right lane 24/7)

Now the only reason I want to get a CBR125, is because I did my training and M1 exit test on one.

[VifferFun]

Greg, if you're insistent on buying a bike, I highly suggest you consider a Ninja 250. You'll pay a similar (perhaps identical) insurance rate to the CBR125, and it will be more useful at highway speeds. The CBR125 caps out at about 130kph, but I'm guessing that most of your riding will be in the area surrounding Georgetown at about 100kph? The CBR125 is likely OK for this purpose, but wouldn't be suitable for longer trips on the 400-series highways at 120kph. Of course, it's up to you and dependent on your needs

[jeero]

+1 to waiting a full year. Saved me tons.

If someone I know sees me on my bike and they say "I'd like to get a bike one day", my first answer is always "Then get your license now and sit on it until you are ready to buy one. You will save thousands."

I also did my course on a CBR125 and had a blast, but now having my SV since March, I would of smacked myself silly if I would of bought a CBR125. Viffer's advice on getting a 250 is a good one.

[jeffjones]

The only reason Im looking to upgrade is, I have out grown my little 50cc scooter within the 3 months of owning it. Top speed is only 80, wich im happy with, i'm just tired with the world passing me.(its no fun being stuck on the right side of the right lane 24/7)

Now the only reason I want to get a CBR125, is because I did my training and M1 exit test on one.

I agree with Viffer on the 250, The CBR125 might remind you of the scooter with a higher top speed. And if you outgrew the scooter in 3 months whats going to happen to the 125 in 3 months?

[VifferFun]

It's like the twilight zone -- trying to convince a new rider about buying a BIGGER bike. More often I'm trying to convince new riders that 600CC SS bikes are not appropriate, hahaha! The CBR125 would be a good bike for the OP (depending on where he rides), but I just think the Ninja 250 would be better. Perhaps the purchase price of the bike is influencing his decision -- I imagine a used Ninja 250 is a bit more expensive.

[TwistedKestrel]

To the OP - sometimes you can get a deal by contacting the insurance broker your parents use. It's not fraudulent, the policy is still in your name, but somehow it's attached to your parent's insurance. I'm honestly not sure how it works, all I know is this is what my young brother is doing and he's paying less for insurance than I am.

Of course this only works for as long as you're living with your parents.

[VifferFun]

To the OP - sometimes you can get a deal by contacting the insurance broker your parents use. It's not fraudulent, the policy is still in your name, but somehow it's attached to your parent's insurance. I'm honestly not sure how it works, all I know is this is what my young brother is doing and he's paying less for insurance than I am.

Of course this only works for as long as you're living with your parents.

In this situation, the vehicle would be listed on the same policy as the parent, but with the child listed as the principal operator. There's nothing wrong with this. Since the child's vehicle is listed on the same policy, they would qualify for the multi-product and/or multi-vehicle discounts that the parent has.

[Baggsy]

Which companies have multi-vehicle discounts that include motorcycles?

At one point I had two bikes and a car with only one driver in the house and no discount.

[VifferFun]

Which companies have multi-vehicle discounts that include motorcycles?

At one point I had two bikes and a car with only one driver in the house and no discount.

If you have two vehicles of the same type (such as two cars, or two bikes) then I *think* they should both qualify for a multi-vehicle discount with most companies. In your example, I would think that your two bikes should have qualified for multi-vehicle discounts (perhaps about 10%).

If you have two vehicles of DIFFERENT types (such as a bike and a car) then you won't get the multi-vehicle discount, but you might get the more substantial multi-product discount applied to your car bike and/or car premium.

To the best of my knowledge, The Co-operators has a 5% discount if you have more operators than drivers on a vehicle. It isn't much, but it's something.

[jeffjones]

Which companies have multi-vehicle discounts that include motorcycles?

At one point I had two bikes and a car with only one driver in the house and no discount.

State farm gave me a $50/month discount on my bike if I brough my truck to them too, It was $5 more for the truck but seem $45 cheaper in the end.

[VifferFun]

State farm gave me a $50/month discount on my bike if I brough my truck to them too, It was $5 more for the truck but seem $45 cheaper in the end.

That's the multi-product discount. Almost every insurer will discount your bike if you also bring your car to them.

[djez]

My suggestion,

Buy the bike, dont insure it....

For the first year Ride it in the track and not on Public road.

[cpgop]

Thanks for all the advice every one,

Im thinking now that a 250 would be better then a 125, as its just 75cc more then my scooter.

The only problem with putting it on my parents insurance is, my Moms with RBC and RBC told be they wouldent go near me until I was 25.

I will admit, the only thing pushing me away from a 250 is the price, as being a student, and working part-time I dont have much money. I may just buy a bike this season, sit on it until next season, then try to see if I can get jevco.

[VifferFun]

Thanks for all the advice every one,

Im thinking now that a 250 would be better then a 125, as its just 75cc more then my scooter.

The only problem with putting it on my parents insurance is, my Moms with RBC and RBC told be they wouldent go near me until I was 25.

I will admit, the only thing pushing me away from a 250 is the price, as being a student, and working part-time I dont have much money. I may just buy a bike this season, sit on it until next season, then try to see if I can get jevco.

Talk to a Jevco broker *now* about your situation for next Spring. There are lots of good brokers in the sticky (such as John Duffy). Know what you're getting into before you get into it

I also reiterate what I said before -- if money doesn't come easy, buying a bike at 16/17 years of age is probably not the smartest decision; however, that decision is for you to make. If you're going to spend $3000 in insurance (which isn't wise), it might as well be on something more practical like a beater car that you can use year round and make out with your girlfriend in the back seat