Will my insurance drop after 1st year? | GTAMotorcycle.com

Will my insurance drop after 1st year?

Moh230

Member
Hey I got my first bike in November 2016 including the insurance from dalton timmins(aviva). Its a kymco venox (250cc) cruiser and I am paying around 125-130 a month. I was wondering when my insurance renews next November, how much of a drop should I expect? I've heard some people have their insurance drop over 30%.

Thank you
 
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Mine went up - technically the premium stayed within cents, but the minimum coverage went down so essentially premium went up

The only explanation I could think of is when Aviva updated their policies (insuring new riders up to 750cc, etc.), they must've increased their margins.
 
oh wow when did yours go up? hopefully my bike being a cruiser wont be affected too much or id have to go shopping again for a better rate
 
At renewal assuming your record remains the same and no claims I'd expect a tiny reduction, but I wouldn't expect 30% - I'd expect that after 2-3 perhaps.

I speak from experience - my wife is also with Dalton Timmis with a policy underwritten by Aviva on a cruiser, last summer was her first full year of riding (accident, claim, and ticket free) and her policy just came up for renewal - she saw a small reduction that maybe amounted to 5%, taking into consideration the reduction in coverages as well this year.
 
At renewal assuming your record remains the same and no claims I'd expect a tiny reduction, but I wouldn't expect 30% - I'd expect that after 2-3 perhaps.

I speak from experience - my wife is also with Dalton Timmis with a policy underwritten by Aviva on a cruiser, last summer was her first full year of riding (accident, claim, and ticket free) and her policy just came up for renewal - she saw a small reduction that maybe amounted to 5%, taking into consideration the reduction in coverages as well this year.


thank you for the detailed answer. any reduction is good enough for me!
 
If you took a riders training course Aviva considers you having 3 years of riding experience already, so your rates wouldn't drop after a year. If you didn't take the course you can expect a minimal decrease.
 
If you took a riders training course Aviva considers you having 3 years of riding experience already, so your rates wouldn't drop after a year. If you didn't take the course you can expect a minimal decrease.

Hmm, I took the M1 exit course (to get M2) last year and I just received my renewal with Aviva for $400 less than last year. They gave me a 10% discount for the course last year and this year as well. This is my second year insured on a bike ever.
 
Mine went up.

I was riding a 20 year old 500cc bike and they raised my premiums stating a general rate hike in the industry.
 
I just got my 1st renewal. 157/mo down to 151/mo , with Aviva.
Guess that is their way saying 'do not go for bigger bike just yet' :eek:

I thinking to get a spot trace. wonder if I can get a discount on insurance.
 
update: I just got my renewal in November ish. I was paying around 130 a month. It dropped down to 115 a month now after my 1st year! not bad at all.
 
but then you get bored of the 250 cruiser, get a bigger bike and it goes up again.


Cant get away from it in ontario
 
but then you get bored of the 250 cruiser, get a bigger bike and it goes up again.


Cant get away from it in ontario

Yes sir, the 250cc is gonna be sold by monday. I really want to get the Kawi Vulcan S (650cc), Insurance will go up to 150-160 a month (not bad). But they are pretty expensive (7-8K). There are used suzuki M50's that I really love and are much cheaper but insurance is gonna be over 230 dollars. Very annoying :(
 
The Vulcan s is the more sporty and better looking option anyway. Engine of a ninja 650


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Best to check with your insurance advisor. You can always shop around if they don't.
 
When I was 18, my insurance went from $3500/yr for a CBR125 to $1900/yr the following year.

I didn't ride on my first year, I just asked for a hypothetical quote of what it would cost if I had been licensed for a year.

Insurance for a 250cc-500cc bike was anywhere from $100-$300 more per year during that time.
 

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