Need Some HELP/GUIDANCE | GTAMotorcycle.com

Need Some HELP/GUIDANCE

J

ju5t1n-h

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Hi Guys, I'm new to the Forum (and Toronto). I just moved here from Vancouver and I'm looking to get my Yamaha R6 insured. I'm 24 years old, had a driving license in the UK since 2007, swapped it over to a BC licence when I moved there in 2011 and today switched it again to an Ontario Licence. NOTE - I passed my motorcycle licence in June of this year.

I was paying $1277 for the year back in BC - and i just called TD insurance and they quoted me a price of over $5000 which is ridiculous and made me nearly faint. It's past 5pm now, so I won't be able to try another company until tomorrow but can you guys recommend someone else to call?

I'm looking to put the bike in Storage over the winter, but I need to insure and register the bike here before I am able to do that apparently.

Please can someone guide me as I'm sure there are people on here that are around my age riding 600cc sport bikes and unless you've hit the lottery, TD is definitely a no-go. There has to be someone cheaper to call.

Thank you in Advance

Justin
 
At 20 I was paying ~$1,100 / year for a GSX-R 750 in BC.

I'm 22 now and paying $3,100 for a FZ8. For the GSX-R 750 I was quoted over $10,000.

You could call State Farm and a few of the other insurance companies that will insure Sport bikes in Ontario - but the price probably won't be too far off TD's price.

If I were you I'd take off collision coverage and just get the basic liability until you're 25. You should see a drop in rates by then.
 
Thanks Mike - I'll keep shopping around. I knew it was going to be more expensive but I think I just popped a blood vessel when I heard them say that. I could't afford to pay more then like $175 a month (was paying $121 through ICBC)
 
Pm kneedragger88 about storage, as he is one guy and not a corporate machine, he may have different requirements for insurance. He's well respected around here and has been providing storage (and painting/repair) for years.

When do you turn 25? Rates will drop then and once you are over 25, monnex can have reasonable quotes.

Good luck, welcome to Ontario.
 
StateFarm has decent rates when you're over 25; I know for me it was half the price of TD. If you're just looking to store it for the winter, consider just getting fire and theft insurance for the winter and not riding for the rest of the season. Your other option is to register unfit/unplated and certify/insure in the spring. I think you can also register fit/unplated as well. Would save you cash if you've got a safe place to store it that won't burn down because you can go insurance free until spring.
 
Awesome, thanks for help guys. I'll def pm kneedragger for the storage.

I heard the statefarm only insures if you have licence for 5 years. Even though I've had a full driving license since 2007, I've only had a Canadian licence since 2011. Would that cause an issue? I am having BC send me a letter stating that I've had at least 24 months driving experience before they issued me a licence. I can contact the dvla (uk licensing) if need be for them to send me something stating that I've held a full licence since 2007.

Would like to hear anyone's thoughts/opinions on this?

Thanks again in advance guys - you rock
 
Also - to answer your question - I'll hit the quarter-century birthday mark next august - so I really would hate to miss my first riding season in toronto
 
+1 for kneedragger I used him for winter storage and it was a great experience. Very friendly and helpful guy.

Insurance you're SOL.
 
Speak to Steven Worden at State Farm - His number is 905-433-3700

Explain your situation and see what he can do.

+1 for Ken (Kneedragger88 )
 
it is unlikely you will be able to get a fire + theft policy only (also called an off-road or non-highway use policy). They used to write them more freely, but seem to be hard to get now a days (was looking at it for a track bike). As others said, state farm will want 5 years of holding a license, 25 years old and a pretty clean record. What others haven't mentioned, they will want your car(s)/house/etc too to get those rates, you won't get the good rates with a bike-only policy. They tend to be competitive (mostly), just a heads up though.

On the other hand, if you decide to ride track only, you don't need any insurance.
 
smergy said:
it is unlikely you will be able to get a fire + theft policy only (also called an off-road or non-highway use policy). They used to write them more freely, but seem to be hard to get now a days (was looking at it for a track bike). As others said, state farm will want 5 years of holding a license, 25 years old and a pretty clean record. What others haven't mentioned, they will want your car(s)/house/etc too to get those rates, you won't get the good rates with a bike-only policy. They tend to be competitive (mostly), just a heads up though.

On the other hand, if you decide to ride track only, you don't need any insurance.
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I had a really good rate with bike only at state farm - I then moved my car and my bike rate got slightly better
 
So far -

TD - $5k (not even an option for me)
State Farm - Won't insure me as I haven't held a North American Licence for 5 years (even though I passed in the UK in 2007)
Riders Plus - Won't insure sport bikes newer then 16years old

Anyone else that I could try? You're about to see a grown man cry. I can't believe they won't count my UK experience, I've had licenses now in 2 Provinces and 2 Countries - To me thats more experience than most people?!!?!?


Note - I just had another Statefarm broker call me back and I explained my situation - he said that I should be fine for insurance with him, and said that it'd be probably around $1500 - but he had to go for a lunch meeting and he'll call me back shortly. Is this strange? I'm now super excited, but feel I'm setting myself up for a big fall (no pun intended)
 
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ju5t1n-h said:
Note - I just had another Statefarm broker call me back and I explained my situation - he said that I should be fine for insurance with him, and said that it'd be probably around $1500 - but he had to go for a lunch meeting and he'll call me back shortly. Is this strange? I'm now super excited, but feel I'm setting myself up for a big fall (no pun intended)
Click to expand...

It is strange since they all use the same underwriting rules expected for them to be mistaken and them refusing to insure ya.

Another option might be to go to a smaller bike for a few years!
 
So still waiting for the call back from that guy - but a question in the mean time. If I decided to keep the bike off the road until next august when I hit 25 years old - Is there insurance that I can get for that? and do you recommend any places where I could store it until there? There's no question that it HAS to be insured - with all the bike thefts that go on, I couldn't risk that - So storage insurance or off road insurance is a possibility here, and how would one go about that?

And Two50noob thanks for the reply but there's just no way I'm selling the bike. I bought it back in May and I want to keep it for at least a few more years yet until I get bored and need to upgrade. I just had it resprayed and its the cleanest 03 R6 that I've seen (hit 11k today).
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