M1 Insurance? | GTAMotorcycle.com

M1 Insurance?

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WantToBike

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Hello everyone,

How much would it cost for a 16-20 year old with a ninja 250 for insurance?
Is it possible to pay for 1 -2 seasons or does it have to be annually?
Is there a big difference between M1 and M2 insurance rates?
MSF course will be done as well.

Anyone have experience with this?

I know i should be calling insurance companies but when i can they're always busy.

Thank you!
 
16-20 is a huge gap, be a little more specific... and in what area?

Back in 09 I was 19, clean record, M1 it was a lump sum payment of around $3500, that's a lot of cash for a kid after just buying a brand new bike so take that into consideration. After a season or two I got it reduced to 4 consecutive payments with Jevco (RIP) and now I'm monthly with SF.

I don't think any company allows you to pre-pay for the following season, but someone correct me if I'm wrong.

Difference between M1 and M2 for me was about $400 overall, I had the extra cash and had my bike being delivered in a week so I didn't really care to wait and ponied up. That year was actually the MTO strike so I was stuck on my M1 for almost 8-10 months. Year 1 to year 2 is the first proper reduction for a youngin, given you stay clean. I went down to about $2400, which was a huge break considering I didn't have to pay up front.

Nowadays even small cc bike insurance has gone up considering the huge increase in the market and amount of bikes on the roads which lead to more claims, especially in this segment because stupid noobs crash, get scared and ****** off their shiny new bike isn't all pretty anymore and call insurance making claims over single vehicle accidents that are their own fault. If you're anywhere in the urban GTA look at spending $3000-$4000.
 
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I've come to the conclusion that there's so many variables involved (right down to your postal code) that nothing anyone can post here amounts to much more than a wild guess. Your best bet? Call around and get some REAL quotes.

Don't expect them to be cheap, however.

As for seasons, if I'm reading your post correctly you're looking for insurance during just the summer months? AFAIK there's no companies writing 6 month policies anymore, and even if you found one your payments would be nearly twice what they would be with a 12 month policy as insurance companies pro-rate their monthly fees based on the understanding you're not riding in the winter..so just look for a monthly payment option and take it.

For me, coming back to riding after being out of it for 20 years, the difference between having the MSC/M1 exit training was roughly $225 annually with Riders Plus. I understand that not all insurance companies even offer this discount - I called State Farm and they more or less said "We don't care". Based on what I've read here there are others that don't discount for it either.

For an inexperienced rider young rider with first time insurance there may be a rate difference between M1 and M2 at the time the policy is written, but don't expect it to be huge. I would definately do the MSC though, it's worth the time and money - even as an experienced rider I learned things and did manage to get rid of some bad habits.
 
At 21 I was paying $1690 / year for a Ninja 300 with liability & comp only. Rates didn't change between M1 and M2 with rider training.

At 18 TD wanted $4000 for me to be a secondary rider on a 250 road and trail with 5k.

Age makes a big difference.

Sent from my SM-G920W8 using Tapatalk
 
Sure would be nice if OP's would chime back in with their results afterwards. Hint hint OP. ;)
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