Needing help to find insurance on my motorcycle



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Thread: Needing help to find insurance on my motorcycle

  1. #1

    Join Date
    Jun 2018
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    Ontario
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    Needing help to find insurance on my motorcycle

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    I have called around but $300 per month is the only qoute so far.
    I own a 1979 honda cx500 custom that just passed safety and im 26 with 3 minor speeding tickets. Ones off at end of aug the other end of september and one in 2020. I am rellay needing insurance to save on gas with my truck. Oh and this will be my first time getting motorcycle insurance

  2. #2

    Join Date
    Jun 2003
    Location
    West Toronto, GL1500
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    6,275

    Re: Needing help to find insurance on my motorcycle

    I have a problem focusing on the problem. $300 a month for insurance works out to $600 a month when you calculate in the six months you won't likely be riding.

    You would have to substitute in a ton of motorcycle miles to offset the gas savings from driving the truck even if your rates were cut in half. The bottom line is usually someone wants to have fun on a bike and is trying to justify it financially. It rarely works.

    You want to ride. It boils down to how much you are prepared to pay for the fun.

    Due to the age of the bike you could try vintage insurance but those policies often come with usage restrictions.

    You don't say where in Ontario and rates vary by postal codes.

    The non-fun answer is to skip riding this year and let two of the tickets drop off your record.

    You don't state what class of license you have and if expiry issues come into play.

  3. #3

    Re: Needing help to find insurance on my motorcycle

    At 300$ per month for insurance plus plates, sadly you won't save a penny in fuel savings by owning the motorcycle. Ride motorcycles because you love it, get a moped or electric scooter if you seriously need to save fuel.

    ... and stop collecting speeding tickets

  4. #4

    Re: Needing help to find insurance on my motorcycle

    Just curious, how much do you spend in gas per month on your truck?

  5. #5

    Re: Needing help to find insurance on my motorcycle

    Quote Originally Posted by Trials View Post
    At 300$ per month for insurance plus plates, sadly you won't save a penny in fuel savings by owning the motorcycle. Ride motorcycles because you love it, get a moped or electric scooter if you seriously need to save fuel.

    ... and stop collecting speeding tickets
    That's why I ride lol

  6. #6

    Re: Needing help to find insurance on my motorcycle

    Quote Originally Posted by 2002rottenapple View Post
    I have called around but $300 per month is the only qoute so far.
    I own a 1979 honda cx500 custom that just passed safety and im 26 with 3 minor speeding tickets. Ones off at end of aug the other end of september and one in 2020. I am rellay needing insurance to save on gas with my truck. Oh and this will be my first time getting motorcycle insurance
    Have you done the MSF course?
    $300 a month is pretty good when considering your speeding tickets. Just wait till they drop or pay the hefty price. Iím 24, riding a 2007 Vulcan 900, have my M2 and did the MSF course, Iím paying $65 a month.


    Rev ON

  7. #7
    PrivatePilot's Avatar
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    Sep 2015
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    Re: Needing help to find insurance on my motorcycle

    Quote Originally Posted by nobbie48 View Post
    I have a problem focusing on the problem. $300 a month for insurance works out to $600 a month when you calculate in the six months you won't likely be riding.

    You would have to substitute in a ton of motorcycle miles to offset the gas savings from driving the truck even if your rates were cut in half. The bottom line is usually someone wants to have fun on a bike and is trying to justify it financially. It rarely works.

    You want to ride. It boils down to how much you are prepared to pay for the fun.

    Due to the age of the bike you could try vintage insurance but those policies often come with usage restrictions.

    You don't say where in Ontario and rates vary by postal codes.

    The non-fun answer is to skip riding this year and let two of the tickets drop off your record.

    You don't state what class of license you have and if expiry issues come into play.
    Yep, all this.

    You won't save anything, and the tickets are gonna kill you no matter what insurance company you call - be thankful you actually got a price, some may not be interested in you at all with 3 tickets, under 30, and a brand new rider.

    Sorry, I know it's not what you wanted to hear, but it's reality.

    If your sole goal is saving money vs your current vehicle you'd be WAY further ahead buying an econobox car that you can drive for 12 months of the year.
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  8. #8

    Re: Needing help to find insurance on my motorcycle

    If you can afford it and really want to ride, $300 isn't bad.

  9. #9

    Re: Needing help to find insurance on my motorcycle

    Imo if your gonna pay that much money, might as well buy an s1000RR

    not worth it for a 1979 cb500

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