new rider's quote seems not bad?? | GTAMotorcycle.com

new rider's quote seems not bad??

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charlieman1987

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Hi everyone,

I am a new rider in Ontario (or Canada). I have a full UK motorcycle licence but I don't think the insurance company here cares about that...
I am shopping around for bikes as well as insurance, so this morning I gave a call to TDMM which currently covers my car and house. I'm 32 male, married, living in North York, and get my M2 in June 2019 through Learning Curves (btw they are awesome). Considering 1M liability and 500 deductible, this is the quote I got from them:

2015 triumph street triple 675r, $628/y
2016 triumph speed triple 1050r $906/y
2015 triumph tiger 800 xrx $850/y
2015 triumph daytona 675r $1209/y
2018 triumph street triple 765rs $1730/y (wtf!!!!!!)
2013 bmw r1200gs $1127/y

The agent said I only need to pay monthly fees in the riding seasons, which I think the deals are actually not bad??? What do you guys think? Worthy to try other insurance companies?
I had a 2009 speed triple back in the UK, so I really want to try the new street triple 765rs this time. so sad they consider the 765rs is high performance/risk bike....

Any input would be appreciated.

Regards
 
hmm, some of those quotes seem awfully good for a new rider here! Even with my 10 years riding history on full M licence here, no claims etc, my old 2010 street triple (Not R) was $900 for full insurance.
 
Those rates look exceptionally good given where you live. Are you sure they are not taking your UK license into account?
Im 36, M2 in May, live in Vaughan and there no way I could insure something like a Daytona 675R for $100 a month.
I shopped around and the best quote I found was around $4000 for a 600SS, which insurance companies class the 675r in.
I couldnt get a quote with TD, they want me to jump through hoops just to get a quote.
 
kiwi said:
hmm, some of those quotes seem awfully good for a new rider here! Even with my 10 years riding history on full M licence here, no claims etc, my old 2010 street triple (Not R) was $900 for full insurance.
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That's what I though. oh I forgot to mention my wife qualifies the discount of university here....
I think TD dosen't care wether it's a r or not, but the new 765 really make a difference
 
K20EF8 said:
Those rates look exceptionally good given where you live. Are you sure they are not taking your UK license into account?
Im 36, M2 in May, live in Vaughan and there no way I could insure something like a Daytona 675R for $100 a month.
I shopped around and the best quote I found was around $4000 for a 600SS, which insurance companies class the 675r in.
I couldnt get a quote with TD, they want me to jump through hoops just to get a quote.
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I live close Bayview and 401, is this really a bad area for getting insurance quote?
I'm sure the agent didn't take the UK experience into account, she said TD only take north america experience into consideration.
It's not fair to ask people jump through for only getting the quote, but I am having good experience with TDMM insurance, no increase if no claim or ticket
 
Good rates for sure, they must want your business as a result of your other policies...as long as the numbers suddenly don't change when the actual underwriters get their hands on things.

BTW, motorcycle insurance is a 12 month thing here so that's not a 6 month term or anything. It's weighted by insurance companies knowing that you're only going to actually ride 6 of 12 months in Ontario, but instead of paying $100/month for 6 months, you pay $50/month for 12 months - easier to eat the cost for most people that way.
 
Those are not unusual rates for TDMM. You would need a clean driving record, existing auto & home insurance. TD and TDMM also discount heavily if you are belong to some groups -- lawyers, dentists, medical doctors, professional engineers and a few more groups can get substantial discounts.

To clear up a point, the 'paying fees during the riding season' means your annual fee is allocated over an 8 month riding season, Mar to Oct inclusive.

Bayview and the 401 will have some of the best prices in the GTA, Markham and Brampton are the worst. Sadly the regional multiplier for insurance is based on insurer's automobile claims and has nothing to do with motorcycles.
 
Actually Td takes 7 payment, first one in March and last one in September. I've been with them for quite a few years now.

Sent from my SM-A530W using Tapatalk
 
Thanks guys for your input.

So if the annual fee is 1200, and it beaks down to 12 payment which is monthly fee 100, does it mean I only pay monthly whenever I am riding the bike? Say I am riding ONLY May to September, so I only make 5 payments which 500 in total? I thought this is what the TDMM girl tried to tell me, maybe it was just too good too be ture?????

Because this happens to my car insurance with TDMM, I often leave Canada for one or two months, so I just give them a call and they will stop charging me the monthly fee while I am not here, but the basic coverage of car is still there (e.g. theft).
 
They'll get you for most of the amount either way. They pro rate the term.....so if they calculate 90% of the riding days are May to September you'll pay 90% of your premium. No way to get around it.
 
800over said:
They'll get you for most of the amount either way. They pro rate the term.....so if they calculate 90% of the riding days are May to September you'll pay 90% of your premium. No way to get around it.
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Maybe I should tell them I ride 12 months a year, and tell them to stop the payment whenever I am not riding ?
 
charlieman1987 said:
Hi everyone,

I am a new rider in Ontario (or Canada). I have a full UK motorcycle licence but I don't think the insurance company here cares about that...
I am shopping around for bikes as well as insurance, so this morning I gave a call to TDMM which currently covers my car and house. I'm 32 male, married, living in North York, and get my M2 in June 2019 through Learning Curves (btw they are awesome). Considering 1M liability and 500 deductible, this is the quote I got from them:

2015 triumph street triple 675r, $628/y
2016 triumph speed triple 1050r $906/y
2015 triumph tiger 800 xrx $850/y
2015 triumph daytona 675r $1209/y
2018 triumph street triple 765rs $1730/y (wtf!!!!!!)
2013 bmw r1200gs $1127/y

The agent said I only need to pay monthly fees in the riding seasons, which I think the deals are actually not bad??? What do you guys think? Worthy to try other insurance companies?
I had a 2009 speed triple back in the UK, so I really want to try the new street triple 765rs this time. so sad they consider the 765rs is high performance/risk bike....

Any input would be appreciated.

Regards
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You’re doing pretty well. I’m from the UK too and took a few years to get insurance on my ZX6R. BTW insurance here is crazy not like the UK. They hate us lol.
 
Dodger70 said:
You’re doing pretty well. I’m from the UK too and took a few years to get insurance on my ZX6R. BTW insurance here is crazy not like the UK. They hate us lol.
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Cheers mate, It's glad to see someone here also ride in the UK:)
I actually find the rate here are better then when I was in the UK... Maybe I was young/single/living in London/poor etc. back then....
 
charlieman1987 said:
Cheers mate, It's glad to see someone here also ride in the UK:)
I actually find the rate here are better then when I was in the UK... Maybe I was young/single/living in London/poor etc. back then....
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I’ve been here 15 years. Was riding a ZXR
charlieman1987 said:
Cheers mate, It's glad to see someone here also ride in the UK:)
I actually find the rate here are better then when I was in the UK... Maybe I was young/single/living in London/poor etc. back then....
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ive been here 15 years now and was riding a ZX9R before I left and was paying around £190. ? I was in the west end suburbs of London. Did you buy a bike yet ??
 
Dodger70 said:
I’ve been here 15 years. Was riding a ZXR

ive been here 15 years now and was riding a ZX9R before I left and was paying around £190. ? I was in the west end suburbs of London. Did you buy a bike yet ??
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190 quid for a racing bike is really good, did you get the third party only or comprehensive insurance in UK? I was paying roughly 800 per year for my speed triple, I lived in the west end too, around Acton and Ealing area.
I am still shopping around for a bike, hopefully can start riding in the next a couple of weeks
 
charlieman1987 said:
...but I am having good experience with TDMM insurance, no increase if no claim or ticket
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Don't believe this nonsense for a moment. Your premium will increase single every year, regardless of any mishaps.

charlieman1987 said:
Thanks guys for your input.

So if the annual fee is 1200, and it beaks down to 12 payment which is monthly fee 100, does it mean I only pay monthly whenever I am riding the bike? Say I am riding ONLY May to September, so I only make 5 payments which 500 in total? I thought this is what the TDMM girl tried to tell me, maybe it was just too good too be ture?????

Because this happens to my car insurance with TDMM, I often leave Canada for one or two months, so I just give them a call and they will stop charging me the monthly fee while I am not here, but the basic coverage of car is still there (e.g. theft).
Click to expand...

Whoah! There's a lot of confusion here.

If your annual premium is $1200, then it's $1200. Pay it all at once, pay it monthly, slice it any way you like, it's still $1200. If you make five payments totaling $500, you'll still owe them $700! It makes no difference how much or how little you ride. Ride one month? Twelve hundred bucks. Ride twelve months? Twelve hundred bucks.
 
Jayell said:
Don't believe this nonsense for a moment. Your premium will increase single every year, regardless of any mishaps.



Whoah! There's a lot of confusion here.

If your annual premium is $1200, then it's $1200. Pay it all at once, pay it monthly, slice it any way you like, it's still $1200. If you make five payments totaling $500, you'll still owe them $700! It makes no difference how much or how little you ride. Ride one month? Twelve hundred bucks. Ride twelve months? Twelve hundred bucks.
Click to expand...
But for my car, I pay only when I drive it, if I don't drive I don't pay. I travel a lot for work, maybe 40% of my time, so I last year I paid 60% of my annual premium.
 
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