Insurance for 30+ year old bikes | GTAMotorcycle.com

Insurance for 30+ year old bikes

Dresden

Dresden

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Hi peeps,

I've been calling around and getting shut down for insurance on a 1980 Honda. TD Meloche Monnex won't touch it for example.

Can someone please recommend a company/individual?


Allstate will do it, but for $700 (liability only) + $250 for not having anything else with them i.e. stand alone policy. I feel $950 is just too much to pay for a 500cc, 34 year old touring bike.


Please help.
 
My understanding of Ontario insurance is that it is mostly based on CC with a few other factors thrown in.

Bottom line is that it's a 500cc engine with lots of horsepower and $700 which is $58 a month sounds to me not intolerable. Not including the $250 because this would apply to anything.

Your primary argument also sounds to me as if you are saying that the bike is old so it should be cheaper. It's still 50-100 hp.

Good luck with what you decide to do.
 
Did you call riders plus for their vintage insurance?

Do you have a car? You can easily pair up your bike with a car and pay cheap cheap insurance.

I pay 458/year for my '74 550 but my car is paired up. Intact is a good place to call as well. TD MM dont like touching bikes over 15 years old.

Dont forget that u live in onterible.
 
Jimsun said:
Did you call riders plus for their vintage insurance?

Do you have a car? You can easily pair up your bike with a car and pay cheap cheap insurance.

I pay 458/year for my '74 550 but my car is paired up. Intact is a good place to call as well. TD MM dont like touching bikes over 15 years old.

Dont forget that u live in onterible.
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Yes, I am well aware of the higher insurance rates - previously coming from a Super Sports bike...

No sense in me switching my car over.. SF for example wanted $200/month more just for my car to save $50/month on the bike..

I have left a message for rider's plus. Any others?

I have no issue paying $700/year.. but $950 a year is getting up there.. ($250 in). Looking for a more cost effective option




@Sunspark... who's arguing? :confused:
 
Umm cx500=40hp rear wheel if you're lucky. Not exactly a high horse, high risk bike. Try Intact, I have my 1985 gl1200 wing with them, pay $50/month. They gave me no hassles about the age.


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Iceman said:
Umm cx500=40hp rear wheel if you're lucky. Not exactly a high horse, high risk bike. Try Intact, I have my 1985 gl1200 wing with them, pay $50/month. They gave me no hassles about the age.

I haven't tried Intact - I will give them a call.


Sent from my iPhone using Tapatalk
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TAG23 said:
I had my 1980 cb750 with state farm. Think i was paying 60-65 a month.
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SF quoted me $1100. Claimed the type of bike didn't matter, just went by the engine size.
 
I use Desjardins Ins. on my '78 650.
Use to pay over $500 a year with Primum, but Desjardins was about half that.
 
You could try giving The Co-operators a shot, but the $700 actually seems pretty reasonable.
 
My 81 cb750f ss us with intact. Paying about $750 a year now.

32
Male
14 year experience
Liability only as they won't give my bike more coverage then that

This is my signature.....apparently
 
Try RBC. They're insuring my 750cc 27-year-old BMW K75 for $630/year.

I have a totally clean record and am 35 though.
 
Dresden said:
I have no issue paying $700/year.. but $950 a year is getting up there.. ($250 in). Looking for a more cost effective option.
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riding a 30 year old bike is not cost effective to begin with. If anything happens there are few people who can wrench on them and you'll probably be **** out of luck or paying out your *** looking for spare parts.

Is $250 really a make it or break difference when you decide on something so unique and one of a kind? Its 2 days work for anyone with a half decent job.

I was at the Benz dealership a few days back while waiting to pick up the car, overheard buddy talking with the salesperson for about 35-45 mins about a S-Class he was looking it. The conversation concluded when he asked the gas it used and salesperson said premium, after that buddy got up and said I'll think about it.

I facepalmed at that thinking, "You spent 45 mins discussing the details on a $120k car yet you have to think about paying for premium gas"....I'd be ****ing ashamed if that was me.

Moral of the story, you don't want to be like that guy...
 
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Why throw away $250 if you don't have to? I make enough money now that I don't think twice about spending $50 on something. But I don't blame a guy for thinking twice and making a couple of extra phone calls just to avoid throwing away two full days of working time. I'd have to be making a hell of a lot more than I do now before I thought of $250 as throwaway pocket change.

Maybe if it's going to charity or a family member, or even a reputable business, sure, I guess if you have money to burn, then go nuts. But I wouldn't give a damned nickel more than I had to to an Ontario car insurance company.
 
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Mongrel said:
Why throw away $250 if you don't have to? I make enough money now that I don't think twice about spending $50 on something. But I don't blame a guy for thinking twice and making a couple of extra phone calls just to avoid throwing away two full days of working time. I'd have to be making a hell of a lot more than I do now before I thought of $250 as throwaway pocket change.

Maybe if it's going to charity or a family member, or even a reputable business, sure, I guess if you have money to burn, then go nuts. But I wouldn't give a damned nickel more than I had to to an Ontario car insurance company.
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then you probably wouldn't buy a 30 year old bike before looking into insurance first as well, I hope...

That's the main point, 30 ****ing years old, its the same situation as a 18 year old kid complaining about paying out his *** for a 250. You're asking for insurance for something no company really wants to deal with so expect to pay a bit of a premium and pony the **** up....

Does that make sense or no?
 
Thank you for the suggestions everyone. I've settled on Rider's Plus. The $760 quote is not the cheapest, but I feel the most comfortable with them based on my conversation with the gentleman over the phone. They also have no restrictions on mileage etc. which I quite liked.


@LoneRonin - I'm not sure why you're getting all worked up over someone else's money. $250 is far from breaking my bank; I have a great mechanic who looks after my bike (he happens to ride one too). Thank you for your concern.


The feeling of being 'had' is the same, regardless of your income bracket...
 
760, is that tax in......and what type of coverage ?

I am with Intact, paying 720 tax in, it went up from last years price of 500 tax in, and don't ask me why, they would not give me an answer...


ohhh just to touch upon LoneRonin and his Mercedes story, I was in about 2 months ago, getting a Benz, I spent 4 hours negotiating a deal on a Benz and I did buy it, payment came out to 601.00 per month, I told the salesman to knock off the dollar, I want it to be an even 600 not a nickel more, guess what, we discussed it for about 10 minutes he asked me why and I said because it's against my religion (it's not but was the best reason I could come up with),,,,,,and I will not pay it and I will go elsewhere, he knocked off the 1 dollar, over the term that's 50 bucks in my pocket and why not, I work for my money, I don't give it away......if you have throw away money, by all means throw it to me.....I am not cheap, I am responsible with my hard earned cash....but then again I will drop 30-50 bucks on a good cigar and enjoy the smoke for a few hours....
 
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LoneRonin said:
then you probably wouldn't buy a 30 year old bike before looking into insurance first as well, I hope...

That's the main point, 30 ****ing years old, its the same situation as a 18 year old kid complaining about paying out his *** for a 250. You're asking for insurance for something no company really wants to deal with so expect to pay a bit of a premium and pony the **** up....

Does that make sense or no?
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If it's some kid who didn't look up insurance rates before buying, that's one thing, but there are dozens of reasons someone might get an older bike. Hell, I know a couple of guys who bought bikes which were 10 or 15 years old when they got them but are still riding them 20 or 30 years later. If the bike runs fine and you take care of it, why not?

And in any case, buying expensive item X is no reason to throw away money on Y if you can easily get Y cheaply.
 
What the hell, I am prepared to pick up my first 30+ year old bike this week and to switch from my 03 Kawasaki 636 to a 81 CB750 is only 20 bucks a month cheaper. Which is still like $165 a month. Screw this, I'm grossly overpaying!! Screw you Statefarm!! Clean record and over 30!!
 
Kuro said:
What the hell, I am prepared to pick up my first 30+ year old bike this week and to switch from my 03 Kawasaki 636 to a 81 CB750 is only 20 bucks a month cheaper. Which is still like $165 a month. Screw this, I'm grossly overpaying!! Screw you Statefarm!! Clean record and over 30!!
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As I mentioned in an earlier post - Statefarm goes strictly by engine size - so they will not be competitive at all.

I ultimately settled with Rider's Plus. Try calling around to some of the companies mentioned in this thread.


We are in the same bracket.
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