Young Riders (16-24yo) -- What are you paying for insurance? | Page 2 | GTAMotorcycle.com

Young Riders (16-24yo) -- What are you paying for insurance?

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Jeez I pay more on my 125, with a clean record and 3 vehicle discount, than most of you guys under 25 (I'll be 30 this year), and that was the best I could find. I'm seeing annual rates on here that are less than what I paid in 2 months when I was under 25 living outside of the GTA (although it was on a 650).
 
unL33T said:
Jeez I pay more on my 125, with a clean record and 3 vehicle discount, than most of you guys under 25 (I'll be 30 this year), and that was the best I could find. I'm seeing annual rates on here that are less than what I paid in 2 months when I was under 25 living outside of the GTA (although it was on a 650).
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You must not have shopped around, I was 29, M1 and a 600 SS and I was paying $68/month for full coverage (Bundled with my car at SF).
 
jeffjones said:
You must not have shopped around, I was 29, M1 and a 600 SS and I was paying $68/month for full coverage (Bundled with my car at SF).
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SF was like $5 cheaper for the bike but way more for the car. Their rates on my 650 and my cars were both way higher than my current company. They told me their bike and car rates are terrible in Toronto. That was after a bundling discount because my renters is with them.
 
I'll do it as of last year because right now I'm on fire and theft and now I've moved further north

OPERATOR:
Operator Age:23
Years Licensed on Motorcycle:0
Number of Claims in last 6 Years:0
Number of Convictions in last 3 Years:0
First 3 Characters of Postal Code: whatever richmond hill is

MOTORCYCLE:
Year of Bike:2012
Make of Bike:kawasaki
Model of Bike:ninja
Displacement (CC):250

PREMIUM:
Insurance Company (Listed on the Pink Slip, not the broker):state farm bundled with car
Did you purchase Collision coverage (Y/N)?y
Did you purchase Comprehensive (i.e. Fire & Theft) coverage (Y/N)?y
Annual Premium:930
 
OPERATOR:
Operator Age: 23
Years Licensed on Motorcycle: 3 years
Number of Claims in last 6 Years: 0
Number of Convictions in last 3 Years: 0
First 3 Characters of Postal Code: L6P

MOTORCYCLE:
Year of Bike: 2011
Make of Bike: Kawasaki
Model of Bike: 250R
Displacement (CC): 250

PREMIUM:
Insurance Company (Listed on the Pink Slip, not the broker): Desjardins (Underwritten by Certas Direct Insurance Company)
Did you purchase Collision coverage (Y/N)? No
Did you purchase Comprehensive (i.e. Fire & Theft) coverage (Y/N)? Yes ($300)
Annual Premium: $1096
 
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OPERATOR:
Operator Age: 24
Years Licensed on Motorcycle: 1
Number of Claims in last 6 Years: 0
Number of Convictions in last 3 Years: 2
First 3 Characters of Postal Code: M1H

MOTORCYCLE:
Year of Bike: 1974
Make of Bike: Honda
Model of Bike: CB550
Displacement (CC): 550

PREMIUM:
Insurance Company (Listed on the Pink Slip, not the broker): Scotia
Did you purchase Collision coverage (Y/N)? N
Did you purchase Comprehensive (i.e. Fire & Theft) coverage (Y/N)? Y
Annual Premium: $450

Car and bike only

car was $160/month with them. It was $180ish before but dropped due to multi vehicle discount
 
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OPERATOR:
Operator Age: 24
Years Licensed on Motorcycle: 1
Number of Claims in last 6 Years: 0
Number of Convictions in last 3 Years: 1
First 3 Characters of Postal Code: L8T

MOTORCYCLE:
Year of Bike: 2007
Make of Bike: YAMAHA
Model of Bike: FZ6
Displacement (CC): 600

PREMIUM:
Insurance Company (Listed on the Pink Slip, not the broker): State Farm
Did you purchase Collision coverage (Y/N)? N
Did you purchase Comprehensive (i.e. Fire & Theft) coverage (Y/N)? N
Annual Premium: 1920
 
OPERATOR:
Operator Age: 22
Years Licensed on Motorcycle: 3
Number of Claims in last 6 Years: 0
Number of Convictions in last 3 Years: 0
First 3 Characters of Postal Code: P6B

MOTORCYCLE:
Year of Bike: 2007
Make of Bike: Triumph
Model of Bike: Daytona 675
Displacement (CC): 675

PREMIUM:
Insurance Company (Listed on the Pink Slip, not the broker): State Farm
Did you purchase Collision coverage (Y/N)? N
Did you purchase Comprehensive (i.e. Fire & Theft) coverage (Y/N)? Y
Annual Premium: Just south of $4000
 
OPERATOR:
Operator Age: 26
Years Licensed on Motorcycle: 4
Number of Claims in last 6 Years: 0
Number of Convictions in last 3 Years: 3
First 3 Characters of Postal Code: M1S

MOTORCYCLE:
Year of Bike: 2008
Make of Bike: Honda
Model of Bike: CBR125R
Displacement (CC): 125

PREMIUM:
Insurance Company (Listed on the Pink Slip, not the broker): Intact
Did you purchase Collision coverage (Y/N)? N
Did you purchase Comprehensive (i.e. Fire & Theft) coverage (Y/N)? N
Annual Premium: $1900

Seriously need to do some shopping around!
 
OPERATOR:
Operator Age: 23
Years Licensed on Motorcycle: >1
Number of Claims in last 6 Years: 0
Number of Convictions in last 3 Years:0
First 3 Characters of Postal Code: M9C

MOTORCYCLE:
Year of Bike: 2000
Make of Bike: Kawasaki
Model of Bike: NINJA
Displacement (CC): 500

PREMIUM:
Insurance Company (Listed on the Pink Slip, not the broker): State Farm
Did you purchase Collision coverage (Y/N)? N
Did you purchase Comprehensive (i.e. Fire & Theft) coverage (Y/N)? N
Annual Premium: 3000
 
OPERATOR:
Operator Age: 22
Years Licensed on Motorcycle: 3
Number of Claims in last 6 Years: 1
Number of Convictions in last 3 Years: 1
First 3 Characters of Postal Code: L4C

MOTORCYCLE:
Year of Bike: 2013
Make of Bike: Kawasaki
Model of Bike: Ninja
Displacement (CC): 300

PREMIUM:
Insurance Company (Listed on the Pink Slip, not the broker): SF
Did you purchase Collision coverage (Y/N)? No
Did you purchase Comprehensive (i.e. Fire & Theft) coverage (Y/N)? Yes
Annual Premium: $1560
 
Jimsun said:
OPERATOR:
Operator Age: 24
Years Licensed on Motorcycle: 1
Number of Claims in last 6 Years: 0
Number of Convictions in last 3 Years: 2
First 3 Characters of Postal Code: M1H

MOTORCYCLE:
Year of Bike: 1974
Make of Bike: Honda
Model of Bike: CB550
Displacement (CC): 550

PREMIUM:
Insurance Company (Listed on the Pink Slip, not the broker): Scotia
Did you purchase Collision coverage (Y/N)? N
Did you purchase Comprehensive (i.e. Fire & Theft) coverage (Y/N)? Y
Annual Premium: $673

Car and bike only
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Wat. Who's your broker? I'm 1 year younger, and my bike is a *bit* bigger, but $673 in *Scarborough*?!?! Plus I've got no convictions, I should be able to get this no problem.
 
drumstyx said:
Wat. Who's your broker? I'm 1 year younger, and my bike is a *bit* bigger, but $673 in *Scarborough*?!?! Plus I've got no convictions, I should be able to get this no problem.
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Note he *year* of the bike.
 
PLau said:
Note he *year* of the bike.
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I can't imagine it makes that much of a difference; I rode an '83 GS400 last year and still had outrageous rates (granted I didn't have a year experience then).

I suspect it has to do with maybe a company that doesn't do standalone bike policies. Often they'll be much cheaper apparently.
 
drumstyx said:
I can't imagine it makes that much of a difference; I rode an '83 GS400 last year and still had outrageous rates (granted I didn't have a year experience then).

I suspect it has to do with maybe a company that doesn't do standalone bike policies. Often they'll be much cheaper apparently.
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Well year does matter and also, how long have you been insured with your car? Some insurance companies will not allow you to add your bike if you have less than x amount of insurance history. Also, your location in scarborough and what type of convictions do play a part as well. Mine were very minor that it barely affected my insurance both in car and bike.

My coworker called the same broker and his rate for his 250cc was 4x more than me (~2k). He rides an 06-08 250 cruiser. He also has more insurance history than me as well as older in age and 2 conviction
 
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insurance history cannot be used to dictate a current rate, unless that history is accidents or claims. Simply being or not being insured previously is not allowed to be used to determine rates.....
 
Kyle said:
insurance history cannot be used to dictate a current rate, unless that history is accidents or claims. Simply being or not being insured previously is not allowed to be used to determine rates.....
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First time I've heard that...
 
Do some investigating... The FSCO states they are not allowed to use weather you have previously had insurance or not to be used in deciding a rate.... Everyone on here has probably been asked that question and told that it effects your rate, but its against the law for it to.... Do want to be scammed anymore people. Start doing some investigation. Im tired of it, and you all should be too...

please start reading the guidlines set out by the fsco for the insurance industry for your selves and make your own INFORMED decisions and take actions, Enough is enough...


http://www.fsco.gov.on.ca/en/insurance/Pages/default.aspx
 
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