Can somebody explain this quote?

[Slono]

My related info:
- 2011 Kawasaki ninja 250
- 5+ years "G" license
- 24 years old, 25 in July
- 1 at fault accident (fender bender) in dec. 2009
- Less than 1 year with M2

Here is what I've been quoted by 3 state farm agents as of January this year.

$1000 Deductible: $181.41 (under 25 years old)
$62.35 (over 25 years old)
$500 Deductible: $204.84 (under 25 years old)
$65.84 (over 25 years old)

The under 25 rate seems very expensive as I've seen people on this forum with more infractions / collisions on their license have lower rates. Why is this?

[coyo]

Firstly; I wouldn't bother with the lower deductable as it's gonna be an expensive claim before I even think of actually claiming anything.

Secondly; are you comparing similar bikes, riders, and garaged locations?

My related info:
- 201 Kawasaki ninja 250
- 5+ years "G" license
- 24 years old, 25 in July
- 1 at fault accident (fender bender) in dec. 2009
- Less than 1 year with M2

Here is what I've been quoted by 3 state farm agents as of January this year.

$1000 Deductible: $181.41 (under 25 years old)
$62.35 (over 25 years old)
$500 Deductible: $204.84 (under 25 years old)
$65.84 (over 25 years old)

The under 25 rate seems very expensive as I've seen people on this forum with more infractions / collisions on their license have lower rates. Why is this?

[Slono]

Combing through this forum I was able to find people from Brampton with similar profiles who were able to get cheaper rates. To my understanding Brampton is on par with Scarborough for motorcycle and automobile insurance.

[junior]

You're under 25, have an accident and less than a year's experience on a bike (new rider). Why are you getting collision coverage on a 2001 Ninja 250? Your deductable is higher than the bikes value. Its a high rate, but I don't think its much above what I would expect.

[VifferFun]

For motorcycles, rates don't vary by location as much as they do with cars. With some insurers, the rates don't vary by location at all. Perhaps the other members were combining a car with their bike (which usually results in a 30% to 40% discount on the bike). There are a lot of reasons why your quote could be different than someone else's. IMO, you quote seems quite good given your claim history.

[Slono]

It's a 2011 ninja 250, that was my mistake sorry!
About the collision coverage, I thought it might have been worth it. Probably not now that you mention it since its only a 250. BUT doesn't state farm take into consideration that the accident was minor and it was in my car not on my motorcycle?

[VifferFun]

Firstly; I wouldn't bother with the lower deductable as it's gonna be an expensive claim before I even think of actually claiming anything.

Don't forget the scenario where you are at fault in a collision and cause damage to another person or property. In this situation, you will have an at-fault claim on your record whether you claim the damage to your bike or not. It would be a double kick in the pants to have a marred insurance history AND a broken bike.

With that said, I have never purchased Collision coverage for any of my bikes because they aren't worth that much, and it wouldn't be the end of the world if I had to replace them out of pocket. The decision on whether or not you should buy Collision coverage really depends on the individual.

[coyo]

It would be a double kick in the pants to have a marred insurance history AND a broken bike.

With that said, I have never purchased Collision coverage for any of my bikes because they aren't worth that much, and it wouldn't be the end of the world if I had to replace them out of pocket. The decision on whether or not you should buy Collision coverage really depends on the individual.

If a claim was going against me, then I'd claim my damages... might as well at that point.

I've often thought about the value (or lack of) with motorcycle collision coverage.

[Slono]

How many years do I need to wait before my fender bender in 2009 no longer factors into the cost of my insurance?

[junior]

How many years do I need to wait before my fender bender in 2009 no longer factors into the cost of my insurance?

You'll have to wait 6 years for it not to impact. An accident is an accident whether its minor or major. I don't want to discourage you from collision, but I would look at your price difference and weigh risks of having to absorb the cost repairing your bike in an accident.

[jeffjones]

How many years do I need to wait before my fender bender in 2009 no longer factors into the cost of my insurance?

I believe it is 6 years but I have done some quotes where they asked if I had any claims in the last 10 years.

[VifferFun]

If a claim was going against me, then I'd claim my damages... might as well at that point.

I've often thought about the value (or lack of) with motorcycle collision coverage.

I'm more talking to the decision not to purchase Collision coverage (or a very high deductible). If you don't have Collision coverage, then you will have nothing to claim against.

[PLau]

How many years do I need to wait before my fender bender in 2009 no longer factors into the cost of my insurance?

I think it's 7 years

But it also depends on the insurance company

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[VifferFun]

How many years do I need to wait before my fender bender in 2009 no longer factors into the cost of my insurance?

Most insurers track your at-fault collisions for six years. The adverse effect to your rate will diminish with each year that you remain claims free.

I believe that CGI, the independent third party that tracks your claims history, will only keep your info for six years; however, your own insurance company may track internally for a longer period of time (say, ten years).

[VifferFun]

FYI, if you want to order your own FREE copy of your claims history report from CGI (called the "AutoPlus"), you can get it here:

http://portal.cgi-ibs.com/en-CA/iis/...lusReport.aspx

The AutoPlus is kind of like your credit bureau report of the insurance world (although you won't get a nifty FICO-like score or anything).

[coyo]

...

I'm more talking to the decision not to purchase Collision coverage (or a very high deductible). If you don't have Collision coverage, then you will have nothing to claim against.

[junior]

I think it's 7 years

But it also depends on the insurance company

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It's 6 years that it will affect your rates, this is insurance law. You history report will have it forever, but insurance companies can't penalize you for it after 6 years.

[Slono]

What's a history report? The police was there but I wasn't given a ticket or penalized in any way since conditions were bad and I literally just slid into the person going at a super low speed.

[junior]

What's a history report? The police was there but I wasn't given a ticket or penalized in any way since conditions were bad and I literally just slid into the person going at a super low speed.

doesn't matter if you got a ticket or made an insurance claim. You had an accident and a report was filed. There is an accident on your file. Your rear ended a car, automatically an at fault accident.

[Slono]

Today I called one State Farm agent and got a quote. Then I called 3 other state farm agents to confirm this quote and got different stories with all of them. One of them said they would not insure me if I did not insure my automobile with them, another one said because of my single at fault accident they would not insure me, and the last one said that she needed information of all the drivers in my household including their names and driver's license numbers before insuring me. I got fed up and went with the first State Farm agent who gave me a reasonable quote, which was less than what I had mentioned in my original post because I took off the collision option.

Has anybody else experienced different agents saying different things?