How much do you pay for insurance? | Page 16 | GTAMotorcycle.com

How much do you pay for insurance?

Forum Sponsor
ZOMGdonuts said:
Thanks! I don't fully understand how this works though. I'm still paying my normal premium through the winter months. Is the implication that if I cancelled the policy for those months, that cost would be added to the premium when I re-instate it in Spring?
Click to expand...

They have added up the cost and averaged it out over the year so that you pay the same every month. If you cancel, you will owe for the remaining balance.

So, looking at my chart. If you pay 1200.00 a year in insurance and you started your policy in March paying 100.00 a month.
You then cancel it Nov 1st.
You will have to pay 400.00 to cancel as you have premium owing and Nov, Dec, Jan, and Feb are zero dollar coverage months.
 
Soulcatcher668 said:
They have added up the cost and averaged it out over the year so that you pay the same every month. If you cancel, you will owe for the remaining balance.

So, looking at my chart. If you pay 1200.00 a year in insurance and you started your policy in March paying 100.00 a month.
You then cancel it Nov 1st.
You will have to pay 400.00 to cancel as you have premium owing and Nov, Dec, Jan, and Feb are zero dollar coverage months.
Click to expand...

Some (if not all) insurers also have a minimum retained/earned premium, which means that they will keep that minimum regardless of when you cancel.
 
Trying to pickup a 2018+ sv650 as my first bike, doing riding course in April for M2. 27y/o, Trying to get an idea of what rates look like. Insurance websites ain`t helping. don't really want anything under 500 as I'm a taller dude. Thanks for any reply's.
 
mechanicTEE said:
Trying to pickup a 2018+ sv650 as my first bike, doing riding course in April for M2. 27y/o, Trying to get an idea of what rates look like. Insurance websites ain`t helping. don't really want anything under 500 as I'm a taller dude. Thanks for any reply's.
Click to expand...
best idea is to call a broker/company and get an estimate.
 
mechanicTEE said:
Trying to pickup a 2018+ sv650 as my first bike, doing riding course in April for M2. 27y/o, Trying to get an idea of what rates look like. Insurance websites ain`t helping. don't really want anything under 500 as I'm a taller dude. Thanks for any reply's.
Click to expand...

Insurance for a new rider, in your 20’s, for a bike that remotely resembles a sport bike?

9ee0d76a74a41697bb2f87d1e84db394.jpg
 
mechanicTEE said:
Trying to pickup a 2018+ sv650 as my first bike, doing riding course in April for M2. 27y/o, Trying to get an idea of what rates look like. Insurance websites ain`t helping. don't really want anything under 500 as I'm a taller dude. Thanks for any reply's.
Click to expand...
What Evoex said but tell them you already have the bike and M2. They don't (intentionally) do what ifs.
 
Also can't argue with Katatonic. SV650 is sporty from an insurance standpoint (no it doesn't have to make sense).
You're tall and would fit a KLR650 good. I'd be curious how much cheaper that might be.
 
Last edited:
mechanicTEE said:
Trying to pickup a 2018+ sv650 as my first bike, doing riding course in April for M2. 27y/o, Trying to get an idea of what rates look like. Insurance websites ain`t helping. don't really want anything under 500 as I'm a taller dude. Thanks for any reply's.
Click to expand...
If you like the SV650 and need legroom, why not try a DL650? Same engine and lots of legroom. I know the looks of the bike might not be everyones taste, but it would fit you better and the insurance cost should be much less.
 
Suzuki SV650 is a great bike. To get an accurate and best quote contact NFP Moto today.
Tel: 1-844-811-1118
or Email: moto@nfp.ca

NFP Red Monster.jpg
 
Whether or not an SV650 is considered "sporty" and rated as such by actuaries, depends on the insurance company.

I loved my first sv650 as a kid, and thinking about buying one again. Also a 2018+ SV650X would be among the cheapest for me to insure. With TD Insurance, and they quoted me about $500/year (have home and auto bundled + group membership discount).
 
p3@ch said:
27 , full M , licensed for 6 years, Barrie area. 2016 S1000RR - $1667 a year. I used broker link and bundled my SUV and dirt bike.

Called every company known to man and broker link got it done.
Click to expand...
So far, I found TD to be the cheapest in my case.
Will give Broker Link a try.
 
My renewal is due in the mail any day now but after changing my wife's insurance from the Vstar to the Spyder I believe I overheard during one of the lengthy conversations that my insurance will drop to under $500/year this year for full coverage on my 1700 Vulcan.

No complaints honestly. I plan to jack up all of our ancillary coverages (wage replacement, caregiver, etc etc etc) to the max at renewal before riding season. Nothing like a concussion to make you realize how quickly a simple head impact can potentially change your life forever.
 
oioioi said:
So far, I found TD to be the cheapest in my case.
Will give Broker Link a try.
Click to expand...
Called Broker Line today.
Quote for 2020 DL1050 is about $1375-$1450 compared to my $1183 from TD.

I think I have called enough (a handful) and will be staying with TD
 
Going through the quote request process with broker line right now. Initial numbers are cheaper than what i am paying now, but want to make sure i am comparing like-for-like.

See how this goes...
 
oioioi said:
Called Broker Line today.
Quote for 2020 DL1050 is about $1375-$1450 compared to my $1183 from TD.

I think I have called enough (a handful) and will be staying with TD
Click to expand...
I thought about changing, Anytime I made the calls they could never match what I'm currently getting.
 
ToSlow said:
I thought about changing, Anytime I made the calls they could never match what I'm currently getting.
Click to expand...
Do you mean leaving TD and finding anyone that could match TDs price?
 
oioioi said:
Do you mean leaving TD and finding anyone that could match TDs price?
Click to expand...
I was with desjardin with my automotive, I have 8 cars under my policy, seemed they wanted to raise my insurance after taking a couple kids off my policy.

I ended up changing and going with RBC with my whole package except my bikes, i stayed with ridersplus
 
ToSlow said:
I was with desjardin with my automotive, I have 8 cars under my policy, seemed they wanted to raise my insurance after taking a couple kids off my policy.

I ended up changing and going with RBC with my whole package except my bikes, i stayed with ridersplus
Click to expand...
Our House, car and Life is with Co-operators. We seem to be getting a decent deal there.
Co-operators doesn't really co-operate well with bikes. So that is separate.

If I bundle the house and car and bike elsewhere, the bike is much cheaper they don't even come close on the car or house.
Forum Sponsor
 
Last edited:
You must log in or register to reply here.

Back
Top Bottom