First time being insured question (23 y/o, r6) | GTAMotorcycle.com

First time being insured question (23 y/o, r6)

Gondm32

New member
Hello, I am looking to insure a bike for the first time and was wondering if you guys could help with a vague approximation of how much i should be paying so that I know what to expect when I call a broker.

i have a 2005 Yamaha r6 in East york (O'Conner & eglinton), I am 23 years old, had my G for about 6 years no tickets/claims, m2 had for about 6 months (no insurance). I am not under an auto policy.

I am assuming it would be somewhere in the $400/month ballpark but would like to hear what you guys think would be an appropriate range.

Thanks.
 
The only one that can really tell you is the brokers/companies. Too many variables. G means nothing. M2 for 6 mts, your estimate is in the range, maybe a bit low I'd guess.
 
appropriate range would be wait a couple years, on a smaller bike, get your full M, then get the r6....

but im sure someone will be happy to receive your organs
 
appropriate range would be wait a couple years, on a smaller bike, get your full M, then get the r6....

but im sure someone will be happy to receive your organs

Didn't you just say in another thread that you crashed with your small beginner bike? Maybe I'd hold off on the ">300cc starter bike = instant death," because you'd be proof that it doesn't matter what the motor size is...
 
Hello, I am looking to insure a bike for the first time and was wondering if you guys could help with a vague approximation of how much i should be paying so that I know what to expect when I call a broker.

i have a 2005 Yamaha r6 in East york (O'Conner & eglinton), I am 23 years old, had my G for about 6 years no tickets/claims, m2 had for about 6 months (no insurance). I am not under an auto policy.post
I am assuming it would be somewhere in the $400/month ballpark but would like to hear what you guys think would be an appropriate range.

Thanks.

There is agent from Allstate thats on this forum. check out his reviews and maybe give himea shout. I think that's his ad flashing on the right side of your post. matthew camacho....

the r6 is a great bike but for new riders things can get real ****** real quick. check out the this video (there is no crashes or anything like it, just a motovlogger sharing his experience on r6 first bike) https://www.youtube.com/watch?v=OQ1mzgddfQ8
 
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Your best bet is TD Insurance. Expect to pay around $6500 for the year. Allstate and most others won't insure new riders on sport bikes for various reasons. TD will do a block fee so you will pay around half of your yearly quote (half season done) and renewal will be next spring so you can shop around when that time comes since you've now had insurance. Good luck, ride safe and remember the higher the cc the less forgiving the bike will be when you make mistakes.
 
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Thanks for the advice and quick replies.

Will insurance costs be cut a lot on a 600 after insuring a 250 for the 1.5 years it takes to get an M? If I'm not saving a lot then I might as well insure the 600. Also to those wondering I'm not worried about driving a 600 cc bike as I've been riding since I was 14, I can ride 600cc just fine lol. Haven't been in Canada for a few years which is why I'm getting licensed and everything so late. I am just looking for the best financial decision but if it's not a big difference then I'd rather not be stuck on a slow 250.
 
If you can swallow your sportbike dreams for a year or two, a cruiser in the 800cc or under range will yield your absolute cheapest insurance and once you get some more years of experience and age under your belt the performance sportbike will become more palatable.

But yes, a small CC sportbike will also be way more affordable.
 
Thanks for the advice and quick replies.

Will insurance costs be cut a lot on a 600 after insuring a 250 for the 1.5 years it takes to get an M? If I'm not saving a lot then I might as well insure the 600. Also to those wondering I'm not worried about driving a 600 cc bike as I've been riding since I was 14, I can ride 600cc just fine lol. Haven't been in Canada for a few years which is why I'm getting licensed and everything so late. I am just looking for the best financial decision but if it's not a big difference then I'd rather not be stuck on a slow 250.

Likely pay half or more less. Also i doubt just getting your M will see your rates fall to magical numbers. They want to see clean insurance history (no claims, no tickets).

Food for thought, i was offered a 2008 ZX6R by someone at work for practically pennies, with M2 (3 years no previous bike insurance) and 35 years old most companies wouldn't even quote me. Those that did wanted $4,800+/yr. What i'd save on the bike i'd spend back on insurance within a year.
 
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Here's my thoughts on your situation with examples.

I'm using new motorcycle costs for the examples, used bikes would be less of a loss.

Let's say u buy a new 250 for $4000 + tax, you'd lose $520 on taxes. Depreciation on the bike would be about $1000 for the first year (maybe more if dropped or damaged). $100 licensing fee and around $1800 for insurance, 1 year full coverage.

$520 + 1000 + 100 + 1800 = $3420

After a year if you decide to buy a new 600cc bike, you pay for taxes and licensing again. A $10,000 bIke + tax is $1300 in taxes + licensing.

$3420 + 1300 + 100 = $4,820 total loss first year if you transition from a 250 to a 600. If you were to go with TD for insurance you're probably looking around $3000 for the remainder of season (their renewal is around Feb). You can bring costs down by taking off collision and lowering yearly travel to 2000km. Not sure what prices you're looking at for the bikes but hopefully this will help your decision.
 
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I can suggest the overly-unpopular option of going with an old bike like ex500/gs500, a 500cc bike that is awful to look at, but not much more expensive than a much newer 250cc sportbike. Prices when starting at 25 are around $900-1300 starting off.
 
I have first hand experience with this. Its not worth it. Don't make the same mistake I did. Pissing money away to have a cool bike right now is making an impulsive decision. I had a ninja 250 for 2 months while I had my M1 at 22 years old (27 now). Sold it and got a 2006 cbr600rr, insured through statefarm, and back then they were actually somewhat reasonable for newer riders as they based their policies on CC, not experience.(Been riding dirtbikes and MX for years the 600 was totally comfortable for me at the time.) Was about $3400/year. I had a good job at the time and minimal expenses so I did it. For 8 months... The novelty wears off QUICK. When you encounter other riders your age paying less than half for other naked style bikes that are still fun and do the trick.. you really start to wonder what the hell you're paying for. Went to supermotos for the time being, payed around 700/year and had 100x more fun for a fraction of the cost. Figured when I turned 25 or older I'd get another supersport and I did. Again, sold it within 8 months as they seemed a lot cooler to me back when I was young than they do now. Back to supermoto/nakeds and never looked back.

Just think about it. Paying close to 300+ a month (may be even more now) for a seasonal toys' "insurance" is absolutely nuts, and I don't care if you're made of money or not. It just doesn't make sense! Think about it before tossing that kind of money around.
 
What @Dizzer said

sent from my Purple LGG4 on the GTAM app
 
I can suggest the overly-unpopular option of going with an old bike like ex500/gs500, a 500cc bike that is awful to look at, but not much more expensive than a much newer 250cc sportbike. Prices when starting at 25 are around $900-1300 starting off.
Had a 2004 gs500, was a terrific bike. Highway speeds were a breeze, nimble enough, and comfortable.

Sent from my Nexus 6P using Tapatalk
 
I can understand the desire for a crazy bike right away but I am glad I chose to go with a 400 supermoto and pay $100/month @23 and my first year riding vs $350/month for a 600 I got quoted for. It's an unfortunate reality of Ontario. I have friends in other places who can start on whatever they want, because it's never more than $150/month. Yeah it sucks...
 
Here is my suggestion you will 99% not do because most riders on super sports care more about posing than operating the race replica motorcycle.

Buy a used R6. Buy a cheap trailer + a hitch ($1000~ tax in). Go take a track course ($1500~ tax). Save, probably, $1500-$3000 by not paying $4000+ for insurance. Go to a track day twice a month ($300~ a session), costing you probably $2000 at most a season.

When you're 25, buy a small bike and insure it for probably less than $1000 on the street. When you're 30 (unless they bump it up to 35 by then lol), buy a supersport for street use.

Following the above, you gain the following:
* A ridiculous amount of skill from learning how to operate at performance limits
* Possibly a ton of money
* Learn how to fix stuff yourself because you're going to crash and shops cost way too much money
* Be far less likely to kill yourself on a supersport like a bunch of others have
* Meet a ton of friendly no ******** riders
* Knee drag into Tim Hortons when you really want to impress that chick working in drivethrough

Also note, I have a full M, my insurance didn't go down for either Statefarm or Allstate.
 

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