Rediculous insurance. . . .

[Brandon2382]

hi, i have recently been wanting to buy a bike more specifically a sports bike but at my age of 17 i am finding it impossible for me to own a bike with all with the insurance prices being higher than the cost of the bike itself.

Anyway i was wondering if you guys think that i would be able to afford a bike on a part time job with insurance being so expensive. Also does anybody know of any good places to check for insurance prices in and around london ontario.

[jonnythan]

Brandon2382 wrote: hi, i have recently been wanting to buy a bike more specifically a sports bike but at my age of 17 i am finding it impossible for me to own a bike with all with the insurance prices being higher than the cost of the bike itself.

Anyway i was wondering if you guys think that i would be able to afford a bike on a part time job with insurance being so expensive. Also does anybody know of any good places to check for insurance prices in and around london ontario.
Don't buy a new sports bike.

Get an old used bike without a ton of horsepower.

[bok]

yeah, your age and riding history are going to work against you on any bike or car for that matter. the problem with sport bikes is that they tend to be a lot more expensive to insure because historically new riders on sport bikes have more claims.

check out an ZZR250 or GS500, those are good learners bikes that are pretty sporty and the insurance won't kill you as bad as someting like a gixxer would. also it's easier to find a used ZZR or GS at a decent price. heck you could buy a new ZZR and insure it for 5 years and still not pay what a brand new cbr 600RR would cost you.

also take a motorcycle riding course, this may reduce your insurance by about 10% depending on your insurance company

[oldschoolorange]

you are going to get the shaft from whatever insurance you go to . I am With TD and they are reasonable but will be checking out riders plus and kingsway once i have my m2

[RTR]

Brandon2382 wrote: hi, i have recently been wanting to buy a bike more specifically a sports bike but at my age of 17 i am finding it impossible for me to own a bike with all with the insurance prices being higher than the cost of the bike itself.

Anyway i was wondering if you guys think that i would be able to afford a bike on a part time job with insurance being so expensive. Also does anybody know of any good places to check for insurance prices in and around london ontario.

Try www.daltontimmis.com Ask for Josh Pauls. He was able to help me out earlier this year.

Also for bikes, stay under 600 cc. That is a critical number when it comes to higher or lower rates. When shopping your insurance around. Have them quote you on a couple of different bikes. This will help educate yourself on the insurance industry.

As mentioned take a training course. The certificate you earn, could provide you with some insurance relief. However not likely on a Supersport.

Good luck!

[unfinite]

I'm 18. Insured with TD. I pay $391/month for 5 months. I started in May so I didnt have to pay for the first (6th) month.
I took a motorcycle safety course, I have a clean driving record and I've never got a speeding ticket.
I pay 400/year for the basic insurance stuff (I don't have colision for my bike). I pay $1600/year on "accident benefits".

Accident benefits: This coverage provides compensation, regardless of fault, if you, your passengers, or pedestrians suffer injury or death in an automobile collision. Accident benefits coverage is compulsory in all provinces except Newfoundland and Labrador. (In Quebec, this is provided by government; see below.)

I drive a 1984 Yamaha XS 400 Maxim. It cost me $1200. Safety course was $360 I think. Helmet was $120 (snell approved). Jacket $400. Gloves $80.

http://kanetix.ca/ has a free motorcycle quote
If you have parents that ride, put the bike under your moms name (girls have cheaper insurance), also, TD offers a discount if you have multiple bikes insured with them.

My friend has an '82 XS 400. his parents both have harleys, the bike is under his moms name, he's 18. $500/year for insurance.

It sucks that I dont get my money back, and even if I crash, I dont get it back cause the bike its self isn't insured.

[Ninja Geoff]

go kawasaki if you're buying new. the good times credit card doesn't require full coverage. Same with using a polaris card.

[ofblong]

Geoff650R wrote: go kawasaki if you're buying new. the good times credit card doesn't require full coverage. Same with using a polaris card.
not going full coverage means your out a bike if you crash it.

[oldschoolorange]

or it gets stolen

[ofblong]

oldschoolorange wrote: or it gets stolen

yeah that 2. I think that would be the harder to take of the 2 :D.

also for the price of PL/PD your better of just not insuring the thing cause well your not saving anything in the long run. The difference, for me, on PL/PD vrs Full coverage was $150/yr. Ill pay the $150 to make sure I keep my bike :D or at least the wife gets it when I die.

[Sev]

I've got liability and theft for 600 a year on a 2004 honda 599

[ArcticHarleyMan]

Just got my new quote from the Personal.
I'm 57, riding since God was in diapers, 0 claims EVER.
2005 Harley Road King Classic
$1M Liability
All perils $0 deductible/collision or upset $500 deductible/comprehensive $500 deductible & specified perils 0 deductible
Total $702/year.

[blues2cruise]

But you can only ride for about 3 days a year there..... :laughing:

All kidding aside, how many months can you ride there? Four or five?

[ArcticHarleyMan]

actually, this year i started riding in april, but could have been out in march for a few days, and i could still ride today but it's -9C right now and will go to about +5 later today.
that's longer than usual this year, but it has no bearing on our insurance policy.

[High_Side]

The '96VFR I picked up on ebay last month is insured for $68 / year! Sorry, I know that this doesn't make you feel better.... :P

[ArcticHarleyMan]

$68/year?? I bet you don't have collision, Upset or Comprehensive, and your liability is probably very low. Or am I wrong?
My coverage is for everything possible. At 700/year that's pretty good considering that in the Yukon all the insurance companies want at least 800/year for collision & upset alone. Then add on basic and comprehensive, taking it to over 2G/year.

[ofblong]

ArcticHarleyMan wrote: $68/year?? I bet you don't have collision, Upset or Comprehensive, and your liability is probably very low. Or am I wrong?
My coverage is for everything possible. At 700/year that's pretty good considering that in the Yukon all the insurance companies want at least 800/year for collision & upset alone. Then add on basic and comprehensive, taking it to over 2G/year.

wow I pay 330/yr for full coverage with comprehenisive/collision. Your getting raped :D. Then again I am only ridinng the bike thats in my sig.

[High_Side]

ArcticHarleyMan wrote: $68/year?? I bet you don't have collision, Upset or Comprehensive, and your liability is probably very low. Or am I wrong?
My coverage is for everything possible. At 700/year that's pretty good considering that in the Yukon all the insurance companies want at least 800/year for collision & upset alone. Then add on basic and comprehensive, taking it to over 2G/year.
Yep, you're right. I do however have full coverage on the Duck (due to the value of it) for only $560 /year. With the VTR and VFR I now run the minimum. With a couple of quads and dirt-bikes in the mix I would go broke insuring them all for the full load. I can't possibly crash them all in one year so I have made a concious decision to self-insure. This may not work out in the end but I have likely already saved close to the full value of one of these bikes over the years. It has been a gamble. Hondas are not a high theft risk like Harleys as well but there is always the chance. For bikes that spend every night in a locked garage unless I'm on the road it's a worthwhile gamble IMO.

[ArcticHarleyMan]

High_Side wrote: ArcticHarleyMan wrote: $68/year?? I bet you don't have collision, Upset or Comprehensive, and your liability is probably very low. Or am I wrong?
My coverage is for everything possible. At 700/year that's pretty good considering that in the Yukon all the insurance companies want at least 800/year for collision & upset alone. Then add on basic and comprehensive, taking it to over 2G/year.
Yep, you're right. I do however have full coverage on the Duck (due to the value of it) for only $560 /year. With the VTR and VFR I now run the minimum. With a couple of quads and dirt-bikes in the mix I would go broke insuring them all for the full load. I can't possibly crash them all in one year so I have made a concious decision to self-insure. This may not work out in the end but I have likely already saved close to the full value of one of these bikes over the years. It has been a gamble. Hondas are not a high theft risk like Harleys as well but there is always the chance. For bikes that spend every night in a locked garage unless I'm on the road it's a worthwhile gamble IMO.

The bold is what I would like to address. According to an article I read somewhere at some time, can't remember where or wher (Isn't that a line from a song??),
Anyhow..... um, where was I?

Oh, ya.
The article stated that Hondas are the most stolen m/c, just because of their numbers, but HD is the most stolen based on their %. IF you know what I mean.

[High_Side]

I have absolutely no facts to base that "assumption" on other than the value of the bikes, and my own preconceived notions. Harleys have a much higher value than Hondas for the most part, and more of the parts are interchangeable. It was just an assumption. I'd be surprised to find out otherwise...