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Insurance Question

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prosoccer99

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Hey all,

I just recently completed the m2 course at RTI. It was a blast. I had no prior riding experience, so the course really did challenge me. Anyway, as a poor uni student, I am in no position to buy a bike right now. If I wait until next year (1 year after I get my m2) will my insurance be cheaper? Or does this only come into effect if I am insured for 1 year as an M2 rider? Finally, I know one of the insurance companies will only insure you if you have your automobile license for a minimum of 5 years-- is this referring to the G or G2? Sorry for the noob questions. Thanks!
 
Full G is usually what they're after considering that after 5 years your g2 expires.
It'll be cheaper if you don't insure until m2, but there will usually be a vast difference between m2 and m
 
I'm waiting a year~ after getting my m2 too. I've been told there are savings if you wait a year without insurance but it's mostly about your g record.
 
Savings, but don't expect to see it drop in half or more. Also dependant on the insurance company policy. Typically the best way to get cheaper insurance is pay to play early, and keep a clean record. Other than that your next drops would be 25.

For SF, they require 5 years of driving experience (must be full g, and at least 5 consecutive years since your g1 [hence no g2]).

Ride an ugly and small bike if you can afford it. (Ruckus?!)

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Unfortunately most insurance savings come from age and record. Problem is - if you aren't insured on a motorcycle, you're not getting any experience on your bike record. While your car driving record does play a factor with some companies, it's not as effective as being constantly insured on a bike.

Being 25 helps, as does having your G license (and having a license overall for 5 years) because then State Farm counts your driving experience. Starting on a small bike is also very helpful (125/250).
 
seagull21 said:
Unfortunately most insurance savings come from age and record. Problem is - if you aren't insured on a motorcycle, you're not getting any experience on your bike record. While your car driving record does play a factor with some companies, it's not as effective as being constantly insured on a bike.

Being 25 helps, as does having your G license (and having a license overall for 5 years) because then State Farm counts your driving experience. Starting on a small bike is also very helpful (125/250).
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You do not have to be insured to rack up "experience" for a lower rate - just the license.
 
Okay. Great responses. So, I just turned 22. I have my G license, no tickets in past 3 years, no accidents. I got my G1 on my 16th birthday, so I would have a G License for 6 years now. Anyway, I am looking to buy a cheap bike, probably a Ninja300 or CBR300. Now, basically the one question I need answered: Will I save a lot of money waiting a complete year of having my M2 (or will this be negligible)? Is it better to be insured for a year, or wait and be uninsured for a year (cost wise)? Finally, if anyone knows rough estimations for how much money these bikes would cost me per year, at this current moment or in a year that would be great. Thanks!
 
Call a broker. Get them to get you quotes, it's their business.
 
PLau said:
You do not have to be insured to rack up "experience" for a lower rate - just the license.
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Such a stupid thing, yet 100% accurate.
 
prosoccer99 said:
Okay. Great responses. So, I just turned 22. I have my G license, no tickets in past 3 years, no accidents. I got my G1 on my 16th birthday, so I would have a G License for 6 years now. Anyway, I am looking to buy a cheap bike, probably a Ninja300 or CBR300. Now, basically the one question I need answered: Will I save a lot of money waiting a complete year of having my M2 (or will this be negligible)? Is it better to be insured for a year, or wait and be uninsured for a year (cost wise)? Finally, if anyone knows rough estimations for how much money these bikes would cost me per year, at this current moment or in a year that would be great. Thanks!
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Waiting 1 year doesn't exactly make it cheaper because of you holding the licence for that 1 extra year, what really does is your age, considering you are younger than 25.

Aviva considers a "course completion" to be equivalent to 3 years of riding experience, I m not sure about other companies.

For a 300 bike, you are looking at roughly 1800 a year, could be cheaper. (personal experience, call insurance companies to confirm)

Bottom line: The savings from waiting the 1 extra year will be minimal, though you will see a decrease in premiums which is due to your age not holding the licence for one year. If you can wait, you will obviously save your self one year's insurance, but if you start now you wont be paying anymore than usual.
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