Insurance for 20 years old. | GTAMotorcycle.com

Insurance for 20 years old.

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Lukeeelu

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Hey guys new to this forum.

I see people complain about their insurance are high around 3000-4000 and same age as me. Today I called many insurance company to give me a quick quote.

TD $1100 / month
Rider plus $962/ month
Intect $950 /month

I got rejected many places like state farm because I don't have 5 years my G licences which i will in (June 2016) Or experience of riding.

Insurance that rejected me are :
State farm, All State, insurance hotline, John Duffy, Aviva, royal sun. So my question is why is my insurance so high and it's only a 250cc ninja.

got m1 (September) did my course last week, so getting m2 on November.

All clean record
 
Lukeeelu said:
...Insurance that rejected me are :
State farm, All State, insurance hotline, John Duffy, Aviva, royal sun. So my question is why is my insurance so high and it's only a 250cc ninja...
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Young, male, no motorcycle experience, very little driving experience, general tendency to do stupid things to show off to the ladies, high level of testosterone, showing other males that you are a man by doing stupid things on your bike, documented actuarial proof that others in your class have a tendency to crash their bikes and hurt themselves.

Choose a couple/all of the above. All these personal risk factors contribute to a high insurance premium. Then if you live in an area with lots of accident claims such as Scarborough, which usually means that the area has a high percentage of idiot drivers, add an additional risk component to your premium.

BTW: We all do some/all of these things, so you're not alone, but we're older, have gotten over (most) of these tendencies, and you have not. Or at least that's what the insurance companies believe.
 
Strange that Aviva rejected you, I'm 19 with my G1M2 with an FZ6 and DRZ400SM insured for under $300 a month. Have you tried using a broker?
 
TorontoBoy said:
Young, male, no motorcycle experience, very little driving experience, general tendency to do stupid things to show off to the ladies, high level of testosterone, showing other males that you are a man by doing stupid things on your bike, documented actuarial proof that others in your class have a tendency to crash their bikes and hurt themselves.

Choose a couple/all of the above. All these personal risk factors contribute to a high insurance premium. Then if you live in an area with lots of accident claims such as Scarborough, which usually means that the area has a high percentage of idiot drivers, add an additional risk component to your premium.

BTW: We all do some/all of these things, so you're not alone, but we're older, have gotten over (most) of these tendencies, and you have not. Or at least that's what the insurance companies believe.
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Yeah you might be right, but come on $1000 a month... That's crazy
 
SWH said:
Strange that Aviva rejected you, I'm 19 with my G1M2 with an FZ6 and DRZ400SM insured for under $300 a month. Have you tried using a broker?
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Yeah I have try some, but still giving me $1000 a month, gonna try other insurance company tomorrow.

But I'm thinking MAYBE because I am paying by "monthly" thats why they are giving me hard time.
 
said in the op it's a ninja 250.

$1000/mt is waaaay to high even being that young with a clean record
 
Something doesn't add up to me. You should expect a lot, but not $1K/month high, I agree.

Are you sure there's not something you're forgetting to share with us? Even that 10K over ticket you may have forgotten about will come back to haunt you when it comes to bike insurance. Any other DL problems or previous insurance issues? Those will haunt you as well even though you might have a "clean record" so far as tickets.

Have you asked for clarification on why it's so high? Riders Plus is where I have my policy and they were very helpful in explaining things - they will have pulled your AutoPlus record and will be able to share any problematic details with you.
 
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Lukeeelu said:
Yeah you might be right, but come on $1000 a month... That's crazy
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Are you sure about $1k/month? It sounds way too high, unless you have a couple of tickets, a bad record, or a super sport?

If they are serious then a quote of $1k/month is the polite way of telling you to F* off.
 
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TorontoBoy said:
Are you sure about $1k/month? It sounds way too high, unless you have a couple of tickets, a bad record, or a super sport?

If they are serious then a quote of $1k/month is the polite way of telling you to F* off.
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This.
 
PrivatePilot said:
Something doesn't add up to me. You should expect a lot, but not $1K/month high, I agree.

Are you sure there's not something you're forgetting to share with us? Even that 10K over ticket you may have forgotten about will come back to haunt you when it comes to bike insurance. Any other DL problems or previous insurance issues? Those will haunt you as well even though you might have a "clean record" so far as tickets.

Have you asked for clarification on why it's so high? Riders Plus is where I have my policy and they were very helpful in explaining things - they will have pulled your AutoPlus record and will be able to share any problematic details with you.
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I got my g1 when I was 16, been driving 4years never had accident clams, never have speeding ticket or anything.

Did rider plus, they say something about financial so have to add 2% charge, and something about riding during April to oct will be charge extra more?
 
Lukeeelu said:
I got my g1 when I was 16, been driving 4years never had accident clams, never have speeding ticket or anything.

Did rider plus, they say something about financial so have to add 2% charge, and something about riding during April to oct will be charge extra more?
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Good for you to not get any infractions in 4 years, so keep it up.

If you finance a vehicle, which means you take out a loan to pay for the vehicle, the finance company owns the bike, not you, until you pay the loan off. If this does not apply you, and you should not finance your bike, then you need not pay an extra 2%. If you do not buy a new bike then you need not add collision, fire and theft, which will lower your premium. Get a used bike as your first bike. Pay cash for your used bike.

Call them back. Ensure they know that you'll be buying a used bike, no collision, fire, theft, no financing. Maybe they gave you an "all in" quote to encompass all risks, which would be expensive. $1k/mo seems not realistic. If you don't like the answer of a call centre person, hang up and call again. You should be able to speak to a different person, possibly for a second opinion?!?
 
Something still doesn't add up, IMHO.

Call Riders Plus back and ask for a breakdown of the expenses, and also ask them to look at your AutoPlus report and tell you if there's ANYTHING on it that's affecting your rate.

And yes, as per above post...did you ask for Liability only, or are your quotes for full coverage? Liability only will be your cheapest option, but if you suggested to them (perhaps without understanding the consequences to your rate structure) that you wanted "full coverage", that could explain it. In your situation full coverage would encompass all the medical benefits that would come with an insurance policy, and in your situation, THAT can drastically alter a policies cost. As well, collision coverage will dramatically add to the cost, particularly if it's a late model bike that would be expensive for them to repair.

If you want the cheapest possible policy, you want to ask for "liability only" quotes....just understand that this gives you no medical benefits nor will it fix your bike if it gets wrecked. You're on your own, it just covers damage you may cause to other peoples vehicles and covers your butt against being sued by someone else. You may want to however consider paying the extra for $2m of coverage vs the standard $1m as well....it's not really adequate anymore.

You haven't yet shared with us what kind of bike you're looking to insure....which of course will also dramatically effect your costs, but I'm going to guess it's a high CC sport bike, right? That, of course, is going to kill you as well for all the reasons TorontoBoy covered in post 3 above.
 
Lukeeelu said:
I got my g1 when I was 16, been driving 4years never had accident clams, never have speeding ticket or anything.

Did rider plus, they say something about financial so have to add 2% charge, and something about riding during April to oct will be charge extra more?
Click to expand...

Based on what you have stated (no claims/convictions and have completed the motorcycle training course) and the type of bike you are looking to insure, Aviva will be very competitive for you. Contact me if you would like to obtain a quote.
 
PrivatePilot said:
Something still doesn't add up, IMHO.

Call Riders Plus back and ask for a breakdown of the expenses, and also ask them to look at your AutoPlus report and tell you if there's ANYTHING on it that's affecting your rate.

And yes, as per above post...did you ask for Liability only, or are your quotes for full coverage? Liability only will be your cheapest option, but if you suggested to them (perhaps without understanding the consequences to your rate structure) that you wanted "full coverage", that could explain it. In your situation full coverage would encompass all the medical benefits that would come with an insurance policy, and in your situation, THAT can drastically alter a policies cost. As well, collision coverage will dramatically add to the cost, particularly if it's a late model bike that would be expensive for them to repair.

If you want the cheapest possible policy, you want to ask for "liability only" quotes....just understand that this gives you no medical benefits nor will it fix your bike if it gets wrecked. You're on your own, it just covers damage you may cause to other peoples vehicles and covers your butt against being sued by someone else. You may want to however consider paying the extra for $2m of coverage vs the standard $1m as well....it's not really adequate anymore.

You haven't yet shared with us what kind of bike you're looking to insure....which of course will also dramatically effect your costs, but I'm going to guess it's a high CC sport bike, right? That, of course, is going to kill you as well for all the reasons TorontoBoy covered in post 3 above.
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It's been said three times, 250cc ninja. Also if you don't have collision, your bike is still covered in a wreck as long as you're not at fault.
 
Iceman said:
It's been said three times, 250cc ninja.
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Not sure how I missed that, my bad. It makes the quote seem even more off. Something is not right.

Iceman said:
Also if you don't have collision, your bike is still covered in a wreck as long as you're not at fault.
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I wasn't clear enough on that - Yes, if the other person can be identified. In a parking lot hit and run however (for example), it is not unless you carry additional coverage. If you're held even partially at fault for an accident any repair costs will be reduced by that percentage as well. Lots of ins and outs.

https://www.fsco.gov.on.ca/en/auto/brochures/Pages/brochure_claims.aspx#expect

Full clarification in the "What to Expect If Your Vehicle Has Been Damaged" section in the above link.
 
PrivatePilot said:
Something still doesn't add up, IMHO.

Call Riders Plus back and ask for a breakdown of the expenses, and also ask them to look at your AutoPlus report and tell you if there's ANYTHING on it that's affecting your rate.

And yes, as per above post...did you ask for Liability only, or are your quotes for full coverage?
Click to expand...

Please correct me if I'm wrong but I think Ontario law requires the following minimum coverage:

- 3rd party liability
- accident benefits
- property damage
- uninsured protection

You can't just ask for "liability-only" because they can't offer it.
 
Agreed, but that's what I meant by "liability only" - an agent will understand and interpret that as "I want the bare minimums".
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