Hard time finding affordable stand alone insurance | GTAMotorcycle.com

Hard time finding affordable stand alone insurance

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Anarion

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Hey guys and gals,

As the title says I'm having a ridiculously hard time finding affordable stand alone bike insurance and I know it's mostly because I ride a sports bike but still these quotes are insane. A little background info :
24 years old, 6 years of having motorcycle license, clean record all the way through no accidents oem claims, currently riding a kawasaki ninja zx6r. If someone could point me in the right direction it would be greatly appreciated as of right now Aviva is quoting me at $5000 full coverage and TD $8000. Any input would be appreciated.
 
You're riding a high risk bike at a high risk age.

My kid is the same age, same years of riding. His rates doubled this year for some unknown reason -- he's paying $1000 on an '11 Ninja EX250. He looked at a R3 and Ninja 300 -- that jumped to $2100 and >$5K on any 600 sport bike.

Get a street Ninja 250for a couple of years. Spend the savings on a track bike if you have the need for speed. You could probably get both including insurance for less than the cost of insuring a 600 sport.
 
And one more thing, Brampton glows in the dark on the Insurance cost heat map. That hurts you too.
 
Sport bike insurance is bad for pretty much everyone, insurance currently hates supersports more than ever. Combined with being a young male in Brampton $5000 is a bit lower than I would have expected
 
GateKeeper said:
but your age, your choice of bike, will determine the cost.....above all else...
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As someone else mentioned, Brampton is a HUGE issue as well.

OP, if hunting around yields no better prices, your options are to either buy a smaller bike, or get out of Brampton...or both - I think you'd find those will have a very positive effect on your premiums.
 
PrivatePilot said:
As someone else mentioned, Brampton is a HUGE issue as well.

OP, if hunting around yields no better prices, your options are to either buy a smaller bike, or get out of Brampton...or both - I think you'd find those will have a very positive effect on your premiums.
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Never mind living in Brampton, even being close is enough to get dinged, my insurance went up by 200 a year only because we moved closer, still not in Brampton, just closer by 16km,,go figure that one...

.
 
Yes rates for sport bikes took a huge jump of late, But it could also be, (given the you scratch my back, i'll scratch yours, between the gov't and insurers, in this province), that rather than come up with even more legislation to deal with the "antics" we have been seeing on the 400 series highways, the gov't, (obviously through very hidden back doors), has basically said, "go ahead raise the rates on these type of bikes and we will simply look the other way."

No one, (in the general, non riding, pubic), is going to weep for riders on sport bikes. But, hey as long as they had fun, (as I am sure they will again this coming season, after all increased insurance means nothing when your riding dirty anyway), that is all that matters.

Now OP, of course, you wouldn't be involved in those type of practices, but all people regardless of age, history etc, are now, (perhaps), somewhat collateral damage, from those rides/riders.
 
hedo2002 said:
Yes rates for sport bikes took a huge jump of late, But it could also be, (given the you scratch my back, i'll scratch yours, between the gov't and insurers, in this province), that rather than come up with even more legislation to deal with the "antics" we have been seeing on the 400 series highways, the gov't, (obviously through very hidden back doors), has basically said, "go ahead raise the rates on these type of bikes and we will simply look the other way."

No one, (in the general, non riding, pubic), is going to weep for riders on sport bikes. But, hey as long as they had fun, (as I am sure they will again this coming season, after all increased insurance means nothing when your riding dirty anyway), that is all that matters.

Now OP, of course, you wouldn't be involved in those type of practices, but all people regardless of age, history etc, are now, (perhaps), somewhat collateral damage, from those rides/riders.
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From my understanding and from what I have been told, by a few brokers and those in the insurance industry....the Gov't does tell the Insurance companies that the Gov't needs more money and this equates to a rise in rates so that the Gov't is getting what they need from the Insurance industry....

As I have said before, this is Legalized Extortion, plain and simple.....

.
 
The rates in the GTA are absolutely insane. I remember years ago in BC, insuring a ZX6R at 19, with a year of riding experience and it cost me $800!
 
GateKeeper said:
From my understanding and from what I have been told, by a few brokers and those in the insurance industry....the Gov't does tell the Insurance companies that the Gov't needs more money and this equates to a rise in rates so that the Gov't is getting what they need from the Insurance industry....

As I have said before, this is Legalized Extortion, plain and simple.....

.
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Explain pls ... Gov't needs more money? ... like they are getting part of the revenue my insurance company is charging me? ... or what exactly is this connection? Through corporate taxes? ... higher insurance company revenue, higher taxes they will pay? .. Really? Where is the guarantee of that?
 
GateKeeper said:
Never mind living in Brampton, even being close is enough to get dinged, my insurance went up by 200 a year only because we moved closer, still not in Brampton, just closer by 16km,,go figure that one...

.
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LOL .... and then there's Markham, North York, Scarborough and Toronto .... man, where do you want to run next from proximity to high rates? Good luck ....
 
Newmarket, for whatever reason seems to have good rates, from whom I chatted up about this.
 
mxs said:
Explain pls ... Gov't needs more money? ... like they are getting part of the revenue my insurance company is charging me? ... or what exactly is this connection? Through corporate taxes? ... higher insurance company revenue, higher taxes they will pay? .. Really? Where is the guarantee of that?
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Insurance companies make payments to Ontario as offsets for OHIP costs, this is negotiated between the insurance industry and the Ont gov't.

The real problem is the Ontario gov't and insurance lobby have a cozy relationship. Insurance tells the gov't how much things cost, they negotiate a reasonable profit -- add them together and that's that. There are no market forces at work, there are no consumer options. Both like it this way, Insurance because through regulation they have guaranteed profits, and for Govt as they have learned that a fat system inadvertently created thousands of jobs inside insurance companies, in the legal profession (ambulance chasers), medical (scam rehab clinics), towing and autobody business.

Cutting regulation and introducing market pressures is interesting to the public, not to the insurance lobby and their gov't bedmates.

That's why my Hayabusa insurance costs me $35/mo to insure in FL vs $145/mo to insure in ON.
 
hedo2002 said:
rather than come up with even more legislation to deal with the "antics" we have been seeing on the 400 series highways

But, hey as long as they had fun, (as I am sure they will again this coming season, after all increased insurance means nothing when your riding dirty anyway), that is all that matters.

Now OP, of course, you wouldn't be involved in those type of practices, but all people regardless of age, history etc, are now, (perhaps), somewhat collateral damage, from those rides/riders.
Click to expand...

Sure glad that the "Ride of the 6ix" hooligans "raised awareness".

Mission accomplished, insurance companies had their awareness raised!

3eA2qMp.jpg


I'm sure the few that are actually not riding dirty will be crying bloody murder about their insurance rates having gone up this year, but of course won't connect the dots.
 
Hey guys sorry I've been inactive on the thread but i was able to find very affordable insurance, got a quote from wawanesa insurance on my bike in Brampton under my own name $1700 a year on the zx6r. Only stipulation is that I have yo bring my car onto the policy as well
 
Good news.
 
Anarion said:
Hey guys sorry I've been inactive on the thread but i was able to find very affordable insurance, got a quote from wawanesa insurance on my bike in Brampton under my own name $1700 a year on the zx6r. Only stipulation is that I have yo bring my car onto the policy as well
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That's awesome. Hopefully they are competitive with the car+bike combo.
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