Need info on insurance.

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slapnutzz · #1 Unread post by **slapnutzz** » Sun Apr 23, 2006 4:13 pm

I remember hearing that insurance companies stopped selling 6mo coverage and now only sell 12mo.

So if I start off with just my m1 and i'm quoted at 4000/yr do I pay that rate for a month or two untill I take the course and then pay the lesser rate of 3000/yr? If I want to cancel the policy after 5 months are there any penalties?

I'm in Ontario btw.
thanks guys.

NorthernPete · Sun Apr 23, 2006 4:18 pm

My company sells only 12 month policioes, but only bills be during 6 months of the year...*chuckles* its still a rip off, but it seems liek I won *L

As for the penalty, depends on why you cancel, tell them you sold the bike. this could work for a while, and just reinsure again the next year.

Sun Apr 23, 2006 5:01 pm

In BC. we can buy, 3, 6, 9, or 12 month policies. Or you could buy the whole year and finance the monthly payments. If you by a longer policy and then cancel it, you have to pay a fee and turn in your plate. If you buy a shorter policy, and it just expires you can keep your plate. Although the short term costs a little bit per month than if you buy a whole year.

slapnutzz · #4 Unread post by **slapnutzz** » Sun Apr 23, 2006 5:21 pm

I guess I just have to go see a few brokers.. Hell, i'd pay 4000 a year if I knew for sure i could just pay 1000 for 3 months.. I'd be at the dealer cutting the cheque tomorrow.

But the turning in of the plate is news to me.. Is it a BC thing? I might be going back to the gulf coast to work over the fall/winter so i'd be shipping the bike down there if I decide to get it. It's beautiful in LA, Miss., Ala. that time of the year. But if I cancel the ins i'll need the plate to look legit down there.

I should have got my M license 10 years ago... Saw no point because I could never afford the insurance. Then I got into cars. Fast foreward 10 years and i'm in the same boat. Riding dirt for 20 years means nothing to the brokers.. lol

backrevin · #5 Unread post by **backrevin** » Tue Apr 25, 2006 4:08 pm

Wow..insurance rates in Canada are really expensive...what is driving the rates so high?

I sure understand why you are looking to break down the payment into less than a full 12M.

Gadjet · #6 Unread post by **Gadjet** » Tue Apr 25, 2006 4:26 pm

damn I love living in Alberta. $422 a year, paid in monthly installments.

oh, that's for a new rider (although I am over 30 I've only been riding for 2 years) with a brand new (2005) KLR650 with *full* coverage.

Bachstrad37 · Tue Apr 25, 2006 5:35 pm

$277 for 12 months on a Kawasaki Meanstreak here. Full coverage with a $250 deductible. I'm 33 single, male, rent!

$4k a year! Wow!! What are you driving?!?!

-Strad

basshole · #8 Unread post by **basshole** » Wed Apr 26, 2006 7:07 am

$4000.00 a year for Insurance???

Damn I'd never ride if it cost me that much!

xnorwaks · #9 Unread post by **xnorwaks** » Wed Apr 26, 2006 1:29 pm

blues2cruise wrote:In BC. we can buy, 3, 6, 9, or 12 month policies. Or you could buy the whole year and finance the monthly payments. If you by a longer policy and then cancel it, you have to pay a fee and turn in your plate. If you buy a shorter policy, and it just expires you can keep your plate. Although the short term costs a little bit per month than if you buy a whole year.

I believe we have the same kind of policy over in Alberta as well... but Im not sure one to buy

slapnutzz · Sun Apr 30, 2006 4:06 pm

4000/yr on a first year rider, 32yrs old, single..

Thats on a new gsxr1000..

Online quotes anywhere from 6200 with theft and collision, to 3800 without.. 3800 drops to 2800 after the m2 class....

I just want to ride to the gym after work and head up to cottage country on the weekends weather permitting.. No desire to dodge the idiots on the DVP to get to work everyday..