New rider from KW | GTAMotorcycle.com

New rider from KW

Brockc

Member
Hello everyone. I got my M2 last month and just brought a KTM RC390 last Saturday. I am 22 and I need some suggestions for insurance. Currently, rider plus is the only company can insure me and the rate is $3100 per year. I just want to know could anyone give me some suggestions that are there any other insurance companies that I can try and may get a lower rate? Really appreciate that:eek:

Cheers
Brock
 

daisoman

Well-known member
Site Supporter
Uh oh.... U bought before getting insurance. Gonna be a painful winter

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Max527

Well-known member
Being 22 and M2 isn't gonna help. You're gonna be paying a premium. Go to a broker and find out what your best options are.
 

smergy

Well-known member
Site Supporter
Or bring it to the track... no insurance required and way more fun with that thing :)
 

justride

Well-known member
Have you checked TD Bank? A insurance broker sounds like a good idea. There are "lots" of insurance company you probably never heard of. If you do get insurance, just make sure you know your yearly premium, monthly installments etc. You got the whole winter to do your research. Tracking sounds like sounds good if you find insurance too high. $3100 can get you some nice race gear and lots of track time and the track community from what I been reading seem like a very positve group. later. don't sell your ktm
 

Wingboy

Well-known member
Moderator
Site Supporter
Yes,try TD.I just bought a 09 Ducati MTS and insure with them for $64/month.But i'm old.

And welcome to GTAM.
 

timtune

Well-known member
My 650KLR costs less than $300/year, but I too am old (and no fire, theft, collision etc) . Start calling and answering their questions.
 
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smergy

Well-known member
Site Supporter
Yup, there are a number of us from the K/W area that do trackdays regularly and welcome riders (new or old) that want to try it out! It's a lot of fun :)

Have you checked TD Bank? A insurance broker sounds like a good idea. There are "lots" of insurance company you probably never heard of. If you do get insurance, just make sure you know your yearly premium, monthly installments etc. You got the whole winter to do your research. Tracking sounds like sounds good if you find insurance too high. $3100 can get you some nice race gear and lots of track time and the track community from what I been reading seem like a very positve group. later. don't sell your ktm
 

Blackfin

Well-known member
Site Supporter
Welcome from another KW rider. Hope you get your insurance sorted. Spring's only 105 days away now :)
 

Moon.405

New member
Honestly you're fresh out of luck :(. I'm 20 and have had my license for 2 years now and haven't found a place under 3000, especially in Toronto.
 

Trials

Well-known member
Nice choice of bike!
but that's brutal expensive insurance if that represents minimum coverage and no extras.
 

Brockc

Member
Thanks for helping. I have called TD for a quote this afternoon. They told me they cannot give me a quote by phone but they can mail some documents to me and I have to fill them and mail them back to get a quote, hopes I can get a lower one from TD.
 

justride

Well-known member
Yes, its frustrating but you have time on your side to do more research over the winter which might save you a bunch. I really don't know if it might work to open up a TD bank account, saving, chequing with no fees of course (don't have to use them) but save to that to very last in negotiating a better rate with TD.
 

Blackfin

Well-known member
Site Supporter
If you have a car and/or live in, say, an apartment (or own a house) and have insurance for those be sure to mention that when talking to an agent. You can often save some if you "bundle" all your insurance needs with one provider.
 

r3r3r3

Well-known member
I'm surprised the dealership even sold you the bike without making you look at insurance first. The dealership I purchased from made me sign a form acknowledging that I was aware of the insurance costs and that it isn't a valid reason for a return. If you bought used you might get lucky and be able to come out even if you ultimately can't get an affordable rate.

Only thing that really will bring your insurance down is:
-shopping around - though don't expect someone to suddenly offer you $600/yr insurance. Based on my experience you are looking at somewhere between $2000-3500/yr insurance at that age on a sport bike.

-you can try to combine your insurances. Most places will give around a 15% discount if you package your car, renters/home insurance, etc.

-take a MSF course. It will usually pay for itself in the insurance discount over 2-3 years. Also you will actually learn how to ride the bike. If you crash in your first year and need to make a claim you will be wishing for a $3100/yr rate when you go to renew.

-If selling/trading the bike in is an option consider a 250-320cc bike. I was looking at the RC390 as well but most insurance places seemed to lump it in with the 400cc+ bikes so you can expect the higher premium. I was getting quotes $100+/mo higher for the RC390 over bikes like the Ninja 300, R3, and CBR300.


Unfortunately this is just the reality of being a young rider in Ontario (especially on a sport bike). If you make it through your first year without crashing you will get a slight decrease when you renew. You will also see more sizable discounts when you hit age 25 and then 27 with a clean record.
 

Brockc

Member
Thanks for helping guys. I just got a quote from the State Farm. The can provide me around $2500 pre year for full coverage and around 2100 for intermediate coverage. Will you recommend full coverage for beginners bikers or there is no much difference? Thanks a lot!
 

PrivatePilot

Ironus Butticus
Site Supporter
Unless you paid cash for the bike (is it financed?) you will as per the terms of your finance agreement need to carry absolute full coverage until such time as you pay it off, or sell it & clear the lien.

And remember that MC insurance is a 12 month a year bill, even when it’s sitting in the garage several of those months.
 

PrivatePilot

Ironus Butticus
Site Supporter
And As others have touched on, the cardinal rule with motorcycles is to always call for insurance before buying anything

As for a dealership selling a beginner a bike that’s going to be expensive to insure, it doesn’t surprise me this time of year – somebody looking for a commission cheque just before Christmas.
 

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