Searching For Reasonable Insurance | GTAMotorcycle.com

Searching For Reasonable Insurance

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hoola47

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Hello guys, I recently bit the bullet and bought an old, but in good shape cruiser for my first bike. It is a 1999 Honda Shadow 750 Ace. I didn't pay much for it, and only want liability coverage. I'm not even sure if motorcycling is for me or not, as I haven't had a chance to ride it yet as insurance quotes have been more expensive than I anticipated. I am 34, no tickets, no accidents, clean driving record.

I obtained my M1 on June 18[SUP]th[/SUP], and have signed up for a safety course on July 6[SUP]th[/SUP](to get my M2). Insurance quotes have ranged from 1381 – 1850 with NO COVERAGE. This is more than my car insurance…



I have contacted almost everyone on the recommended list (John Duffy – 1800), Paul South RBIO1800, cvincent@csib.org$1381, TD Meloche $1400, State Farm $1400 (a bit less if I move two cars and house over, but it might balance out as my current rates are quite good) Riders Plus $1800. I haven't contacted Seamus at StateFarm yet, but it's the same company so I'm not expecting any miracles...



For a 34 year old male to drive a slow 40hp cruiser with no collision it is going to cost about $1400? If so I’m just going to sell the bike. Any help or suggestions...
 
Pm me your number, I have some info for you. Nice bike, btw. I have a '98. ?
 
hoola47 said:
...For a 34 year old male to drive a slow 40hp cruiser with no collision it is going to cost about $1400? If so I’m just going to sell the bike. Any help or suggestions...
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The expensive part of auto insurance is not the bike but you getting hurt. No matter that the bike is inexpensive and low(er) powered, it is heavy enough and powerful enough for you to get yourself into a lot of trouble, and cost any insurance company a pretty penny for your rehab.

M1, no riding experience, no course, heavy bike, and a 750 at that. You are high risk, and your premiums will reflect this. It could be worse: You could be 18. Before you lament your premium, read other posts in the insurance section on riders of your age with an M1, if you can find any.

Pass your course and get your M2, then call around. It might be cheaper to sell your bike and get something lighter to start, but this is up to you. Have you called your car insurance company about adding a bike?
 
TorontoBoy said:
Pass your course and get your M2, then call around. It might be cheaper to sell your bike and get something lighter to start, but this is up to you. Have you called your car insurance company about adding a bike?
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These quotes are with an M2.

My car insurance company wont insure me with only an m1 anyway ($1400 for the bike when I already have 2 cars and house insurance with them).
The only place that didn’t care about M1 or M2 was Statefarm.

I am signed up for the course which begins July 6[SUP]th[/SUP]. EVEN with the training and M2 license it’s looking to be around $1400 with no coverage at all.

Does this sound right?
 
hoola47 said:
So this is the norm I take it?
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Yes. That's why most riders tend to start with 500cc or less. The good news is, you can probably trade your 750 shadow for something a little smaller really easy. If you decide to switch bikes, get quotes before closing the deal so you know what the insurance will cost beforehand.
The other option is to bite the bullet, pay now and hope it decreases a fair bit after the first year.
 
If you were in Toronto it would be worse. Your mandatory medical benefits are probably 80 to 90% of the premium.
 
TorontoBoy said:
It could be worse: You could be 18. Before you lament your premium, read other posts in the insurance section on riders of your age with an M1, if you can find any.
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Can confirm, was getting quotes for the same bike. My best quote was more than double your worst. I'm 24.
 
the words "reasonable", and "insurance" do not go together in Ontario...
 
kellen said:
do people really think ~$100 a month is expensive?
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Yes. Morons with no concept of business or what things cost to run.
big experts think they know what the price of every product should be ,as long as they consider it expensive while having no concept of how that price is arrived at.
 
$100 month is not expensive considering a bike is a seasonal toy, but if you compare what Ontario, or even the GTA alone pays for insurance vs. the rest of the country then it isn't reasonable.
 
miggs said:
$100 month is not expensive considering a bike is a seasonal toy, but if you compare what Ontario, or even the GTA alone pays for insurance vs. the rest of the country then it isn't reasonable.
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And the rest of the country has the same coverage that Ontario does?

Let's compare apples to apples.


Sent from my iPhone using Tapatalk
 
Basic minimum coverage is pretty similar across the provinces, with Ontario being one of the only ones to require mandatory "property damage coverage" and "uninsured automobile" coverage.

If you want to compare apples, to apples then explain to me why my car and bike insurance, with the same broker, same driving record, same coverage / deductibles is almost double in Scarborough what it would be should i move to Ajax / Whitby?

I don't know why you find it hard so hard to admit that drivers in Ontario pay more...
 
caboose56 said:
And the rest of the country has the same coverage that Ontario does? Let's compare apples to apples. Sent from my iPhone using Tapatalk
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Sure if you mean comparing while factoring in population density, cost of claims, fraud etc . Point is, unless you are part of the process of making up the cost of a product whether it be shoes or insurance stop being a big expert on what things should cost. We don't see endless posts about the ripoff cost of food, iPhones, helmets etc but everyone is an expert on what insurance should cost and how it's too much.
 
miggs said:
Basic minimum coverage is pretty similar across the provinces, with Ontario being one of the only ones to require mandatory "property damage coverage" and "uninsured automobile" coverage.If you want to compare apples, to apples then explain to me why my car and bike insurance, with the same broker, same driving record, same coverage / deductibles is almost double in Scarborough what it would be should i move to Ajax / Whitby?I don't know why you find it hard so hard to admit that drivers in Ontario pay more...
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Your insurance costs are partially based on where you live. Don't you get that? this is due to many factors including, traffic, claims , fraud, population density etc etc. Insurance is a pool, not a one person calculation that only factors you and your driving record into your cost. Move to Brampton and see what your rates do
 
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