Motorcycle Insurance......wow....

[#8]

How the **** does anyone afford insurance on a sport bike in Ontario?

Seriously? WTF is up with all these guys riding around I see all the time on there CBR's, GSXR's, and Ninjas everywhere? I just got a quote on the bike I wanted at 600cc and its ****ing ridiculous. I am 26 years old and my insurance is still a ****ing joke.

The only bike I can now afford to ride, that I would be caught riding, is the Suzuki SV650. Its classified as a touring bike and is actually even cheaper on insurance than my car.

I dont know how the insurance companies are allowed to charge upwards of $6k a year for basic coverage. How that does not fall into the legal category of price gouging I will never understand. Im all for capitalist markets, but when you LEGALLY are OBLIGED to possess insurance for a vehicle, it should be regulated. Seriously. WTF?

[RagingRandy]

Check out many different insurance companies. Some only deal in niche markets. Start here.... http://www.kanetix.ca/motorcycle-insurance

[gsxr750]

You need to call State Farm. They rate by CC and not by type of bike. Before I was 25 I paid $180 a month. When I turned 25 it went down to $80. (2006 GSXR 750 and this is with no other insurance with them )

Oh, and raise your fire and theft / crash deductables to $1000. If you crash bad enough it's going to cost you more than $1000 to repair anyways.

[nii]

I went with a broker who specifically deals with bikes. But expect to pay a fair amount, esp if its ur first bike. As an example, when i was 23 i had a kawi zx6r, was my 2nd year riding and i paid 2400.

[JifeLacket]

Don't insure it you pussayyyyyy

[countrychic]

If you do the motorbike safety course as well it helps to reduce the cost.

[Big D]

You need to call State Farm. They rate by CC and not by type of bike. Before I was 25 I paid $180 a month. When I turned 25 it went down to $80. (2006 GSXR 750 and this is with no other insurance with them )

Oh, and raise your fire and theft / crash deductables to $1000. If you crash bad enough it's going to cost you more than $1000 to repair anyways.

x2 my buddy did this last year, he switched his car insurance to SF and they brought his bike insurance even lower. he has a 600CBR

[nii]

x2 my buddy did this last year, he switched his car insurance to SF and they brought his bike insurance even lower. he has a 600CBR

All this info is useless unless stating their age, years with moto lic, years with moto insur, driving abstract etc. Also SF agents are notorious for rejecting customers if they just want to insure a moto. GTAM boards are filled with said pp.

[gsxr750]

State Farm:

Under 25 not married. Clean driving record. No car insurance. With my M2. $1000 / $1000 deductables, 2006 GSXR 750 ( brand new insured value $13,200 ) Motorcycle course taken but State Farm doesn't apply that.

Cost per year $2160

Turned 25. Clean driving record. No car insurance. Still with M2. $1000/1000 deductable.

Cost per year $960.

They would not insure me until I had my regular car drivers license for 5 years. That's all that mattered.

Fact.

[nii]

State Farm:

Under 25.
Cost per year $2160

Turned 25.
Cost per year $960.

Fact.

Those savings make me want to start riding again.

[tiramisu]

I remember buying my first motorcycle for $500 and insuring it for 6 months for about $120.

[natenator]

I remember buying my first motorcycle for $500 and insuring it for 6 months for about $120.
do you also remember when men first walked on the moon?

[Sandwiches]

I remember buying my first motorcycle for $500 and insuring it for 6 months for about $120.

and a chocolate bar was only a nickle

[tiramisu]

Never saw a nickel chocalate bar but I remember that my father was going to quit smoking when cigarettes got to a dollar a pack.

[RagingRandy]

My first snowmobiles were insured for $100\year. That was for any sled.

[GYMBRAT]

500 a yr full coverage for my Harley.....55 a yr for my sleds......55 a yr for my dirtbikes

[#8]

I was told by my agent that the safety course does not affect the insurance in any way and the only thing that does is a clean riding record of a year or more.

Thanks for the feedback thus far.

[nii]

500 a yr full coverage for my Harley.....55 a yr for my sleds......55 a yr for my dirtbikes

I cant remember, arent you in your 40s or 50s?

[rob66679]

I was told by my agent that the safety course does not affect the insurance in any way and the only thing that does is a clean riding record of a year or more.

Thanks for the feedback thus far.

I worked with a guy who went through the same thing, in the end he bought a Jeep instead.
It wasn't the liability, it was the collision that was sky high..... and you've got to get collision if you're financing it.
He did some research on it, and the number of people who write off sport bikes is really high thus the high rates.


On another note, thats really interesting to see a die hard Conservative wanting Government regulation of a free market..... Especially insurance.
Almost makes you think what it could be like if insurance companys really had you by the nuts......IE health insurance......... ****in scary.

[#8]

^^ the insurance market is not technically a free market when it is required by law that you have to have it, and every ****ing douchebag company inflates their rates so you get ****ed no matter what.

That is hardly an example of a "free market" where the consumer dictates the price of a good or service. It should be regulated.

[GYMBRAT]

I cant remember, arent you in your 40s or 50s?

feel like it somedays, but no I'm in my 30's bro :)

[rob66679]

^^ the insurance market is not technically a free market when it is required by law that you have to have it, and every ****ing douchebag company inflates their rates so you get ****ed no matter what.

That is hardly an example of a "free market" where the consumer dictates the price of a good or service. It should be regulated.

Right..... so how is that any different than American style health insurance?

So maybe its a good thing we're not forced to go through insurance companys for health care? You really think it would be any different?

[#8]

Who is talking about american health insurance? Nobody forces anyone to use health insurance in the U.S. You can pay cash for all your procedures if you want to.

If you make a decent living in the U.S., their health insurance options are FAR better than the ones we have here. The media plays up all the people living in poverty that dont have insurance (which is awful), but when you consider what you are paying in income tax in Canada, vs. income tax in the U.S. and health coverage, you would be saving money hand over fist if you lead a relatively healthy lifestyle.

I have plenty of family in the U.S. and they all receive excellent healthcare at a much more affordable rate than our gouging levels of income, sales, and provincial levels of tax pay for. Health insurance in Canada is FAAAAAAAAAAR from free.

[dku]

I had a gixxer 750 when I was 17 and I only paid $400 for 6 months, the key was having it under my dad's name. ;)

[#8]

^^ i tried that too, but my dad doesnt have a bike license, nor does he have ANY riding experience.

HOW THE **** DOES ANYONE ACTUALLY AFFORD THIS SHIT IN REAL LIFE IN THEIR OWN NAME WITHOUT HAVING A CAR INSURED IN THE SAME COMPANY?

I dont get it.

[nii]

^^ i tried that too, but my dad doesnt have a bike license, nor does he have ANY riding experience.

HOW THE **** DOES ANYONE ACTUALLY AFFORD THIS SHIT IN REAL LIFE IN THEIR OWN NAME WITHOUT HAVING A CAR INSURED IN THE SAME COMPANY?

I dont get it.

There are 2 types of riders, first type rides for a couple years, realizes the costs are just too high and gets out. Second type rides for a couple years, realizes this is their passion, eats the ludicrous expense each year and bikes soon become a big part of their life. This is true for Canadian riders because our riding season is so short. I was the former, i cant tell you how much money i sank into riding in just 3 years.

[Bowlcut]

US healthcare insurance market is not a free market. If anyone says otherwise they are ignorant beyond belief and have no idea what free markets are.

Insurance companies are regulated to death, and the various pieces of legislation are written to the benefit of big corporations who give kickbacks to state governments. Why is pregnancy insurance mandatory for are females in Kentucky (even if they are 70 year olds)?

If insurance was a free market more people would want to get in on the action because of the huge profits in the sector, thus driving costs down.

Casualty insurance is all about pricing risk, and motorcycles and their riders are generally a higher risk demographic than cars. How many that have their legs turned to jelly and can't work for a year while being hit in a pick up?

[ironwill]

I was told by my agent that the safety course does not affect the insurance in any way and the only thing that does is a clean riding record of a year or more.

Thanks for the feedback thus far.Ontario sucks as a new rider...I was paying 3600 bucks/yr when i moved there For my bike, then took the course lowered it by about a grand, and then put time in and it was better, but it still sucks...You have to really search around for the right insuance company over there #8...I had a learners forever and just went with that, then moved to ontario and was classified as new rider....
I think im around 600 bucks in Alberta, and 1200 in BC...Saskatchewan was cheap as hell, so was manitoba...Ontario was by far the worst for me!!!!

[wrought]

Try Jevco. There's a couple of brokers in the GTA for them and they've got about the lowest rates going, m1/m2/whatever doesnt matter.

[nii]

Try Jevco. There's a couple of brokers in the GTA for them and they've got about the lowest rates going, m1/m2/whatever doesnt matter.

Ditto, thats who my broker went with.

[Ritch]

time to get a moped...

[Bowlcut]

time to get a moped...

Moped?
Tu est un tapette. Je dis le verite. Achetes un moped, v-neck, et un man purse, et voila!

[Ritch]

Moped?
Tu est un tapette. Je dis le verite. Achetes un moped, v-neck, et un man purse, et voila!

Bien voyon donc, comment peux-tu oublier le foullard? Je sais pourquoi, tu penses trop au grosse bittes que tu aimerais avoir dans`l cul! Quand J`aurai ma mobilette je viendrai te chercher chez toi et on ira sur un "date" sur la montagne pour voir la belle vue de la ville, just toi, moi et ma mobilette. Qu`en penses-tu?

[rob66679]

Who is talking about american health insurance? Nobody forces anyone to use health insurance in the U.S. You can pay cash for all your procedures if you want to.

If you make a decent living in the U.S., their health insurance options are FAR better than the ones we have here. The media plays up all the people living in poverty that dont have insurance (which is awful), but when you consider what you are paying in income tax in Canada, vs. income tax in the U.S. and health coverage, you would be saving money hand over fist if you lead a relatively healthy lifestyle.

I have plenty of family in the U.S. and they all receive excellent healthcare at a much more affordable rate than our gouging levels of income, sales, and provincial levels of tax pay for. Health insurance in Canada is FAAAAAAAAAAR from free.

If you fall into a high risk category IE a previous or underlying condition, then your basically in the same situation that your in now- a really great excuse to gauge the hell out of you.

Its been coming to light that insurance companys in Canada are using peoples credit scores to determine their auto insurance rates........ just another excuse to make more $$$.

Would you rather buy your healthcare from an insurance company?

[Bowlcut]

If you fall into a high risk category IE a previous or underlying condition, then your basically in the same situation that your in now- a really great excuse to gauge the hell out of you.

Its been coming to light that insurance companys in Canada are using peoples credit scores to determine their auto insurance rates........ just another excuse to make more $$$.

Would you rather buy your healthcare from an insurance company?

Don't you think it is right that a company charges more in premiums to high risk people? Insurance companies are not charities so they won't intentionally lose money on people.

There used to a thing back in the day called church hospitals where poor people would be looked after, but nowadays the state is the new god.

[Bowlcut]

Bien voyon donc, comment peux-tu oublier le foullard? Je sais pourquoi, tu penses trop au grosse bittes que tu aimerais avoir dans`l cul! Quand J`aurai ma mobilette je viendrai te chercher chez toi et on ira sur un "date" sur la montagne pour voir la belle vue de la ville, just toi, moi et ma mobilette. Qu`en penses-tu?

Tabernac je oublie le foulard!

Un date avec toi? Hell ya. Nous devrions acheter les smoke meat et, alors, nous pouvons les meat sweats en meme temps.

[pw154]

the reason you see so many young guys on these bikes is because most of them aren't insured. I rode without insurance for 3 years. most of my friends did as well.

[#8]

How does this work? As soon as a cop runs your plate does it not come up as uninsured?

Explain.

[Ritch]

I drove a car and a motorcycle without a license for quite some time, **** insurance, lol...

[Ritch]

Now if I can only get a liscence for these "guns" of mine...

[pw154]

How does this work? As soon as a cop runs your plate does it not come up as uninsured?

Explain.The only thing they have linked with the MTO is your policy number which you have to provide when registering the vehicle in your name. You simply make up a policy #. They have no way of checking whether the policy # is legitimate unless they call the insurance company. If they pull you over they will ask for an insurance slip. Those can be forged easily

[Ritch]

^^^ that sounds like a bad idea, then again don`t listen to me...

[pw154]

^^^ that sounds like a bad idea, then again don`t listen to me...It's not a GOOD idea by any means, but if you're crooked enough and want to save some bucks, it's very doable. You just better hope that you don't get involved in a collision that you can't run away from. I rolled the dice for 3 years and came out good and $5000 richer. lol.

[nii]

It's not a GOOD idea by any means, but if you're crooked enough and want to save some bucks, it's very doable. You just better hope that you don't get involved in a collision that you can't run away from. I rolled the dice for 3 years and came out good and $5000 richer. lol.

Yup, there are a lot of uninsured riders out there. Sad fact is, if uv been riding for more than 3 years, know how to handle yourself and risks associated with running, u have a very good chance that you'll never get caught.

[rob66679]

Don't you think it is right that a company charges more in premiums to high risk people? Insurance companies are not charities so they won't intentionally lose money on people.

There used to a thing back in the day called church hospitals where poor people would be looked after, but nowadays the state is the new god.

How exactly does a poor credit rating make someone more of a risk to be involved in a car accident?

[rob66679]

The only thing they have linked with the MTO is your policy number which you have to provide when registering the vehicle in your name. You simply make up a policy #. They have no way of checking whether the policy # is legitimate unless they call the insurance company. If they pull you over they will ask for an insurance slip. Those can be forged easily

They have called my insurance company before to check the validity of my policy. If you lied or produced a fake you'd be charged criminally.

I've driven with no insurance in my younger days, but thats a bad, bad idea.
You could wind up paying for something for the rest of your life, and if you get caught with no insurance your rates will skyrocket, on top of the massive fine.
Not worth it.

[GYMBRAT]

insurance companies are fkin crooks no matter how ya look at it!!

[ironwill]

How does this work? As soon as a cop runs your plate does it not come up as uninsured?

Explain.

Registration IE plates are a different animal than insurance is in most provinces, Ontario being one of them....In AB, i cant get plates until i showed proof of insurance!!!

[Bowlcut]

How exactly does a poor credit rating make someone more of a risk to be involved in a car accident?

I didn't bring up credit rating, but motorcycles accidents result in higher payouts than vehicle accidents so would warrant higher premiums. Plus the demographic is usually young, moderately to lower educated males, thus a higher probability of engaging in risky behaviour.

[Bowlcut]

Registration IE plates are a different animal than insurance is in most provinces, Ontario being one of them....In AB, i cant get plates until i showed proof of insurance!!!

Don't you have to pay insurance up front in AB too?

[faller]

Plus the demographic is usually young, moderately to lower educated males, thus a higher probability of engaging in risky behaviour.

Is that for real?

[Bowlcut]

Is that for real?

If you were to look at motorcycle ownership it would be higher among those with only highschool education. Not saying education levels have anything to do with intelligence at all. Probably the contrary, but if you examine who owns cycle far less PHD's, Masters, CA's, etc would own them.

Insurance companies then use this to figure out who has a higher probability of engaging in risky behaviour.

[ironwill]

If you were to look at motorcycle ownership it would be higher among those with only highschool education. Not saying education levels have anything to do with intelligence at all. Probably the contrary, but if you examine who owns cycle far less PHD's, Masters, CA's, etc would own them.

Insurance companies then use this to figure out who has a higher probability of engaging in risky behaviour.

BITCHES!!!!!!lol, to bad for them folks....More road for me!!!!

[ironwill]

Don't you have to pay insurance up front in AB too?
yeah bowl, thats what i was saying, cannot get plates (registration) until we show proof of insurance first...

[Bowlcut]

BITCHES!!!!!!lol, to bad for them folks....More road for me!!!!

Then you get some retard who can't drive who decides to cut you off because he has never heard of shoulder checking.

[rob66679]

I didn't bring up credit rating, but motorcycles accidents result in higher payouts than vehicle accidents so would warrant higher premiums. Plus the demographic is usually young, moderately to lower educated males, thus a higher probability of engaging in risky behaviour.

I can understand the high premiums regarding collision insurance.... Based on the amount of collisions.... But insurance companys have been bending everybody over for way too long.
It got really bad after 911, they were claiming they were losing on fradulant soft tissue claims when in reality they lost their shirts in the World Trade Centers and had to make it up somewhere else.
So when the brilliant Government in NS put a cap on soft tissue damages at $2000 to lower rates, they started using peoples credit ratings to determine auto insurance rates....... What a bunch of crooks.
Its shit like this that makes me glad I'm not buying health insurance.

[Bowlcut]

I can understand the high premiums regarding collision insurance.... Based on the amount of collisions.... But insurance companys have been bending everybody over for way too long.
It got really bad after 911, they were claiming they were losing on fradulant soft tissue claims when in reality they lost their shirts in the World Trade Centers and had to make it up somewhere else.
So when the brilliant Government in NS put a cap on soft tissue damages at $2000 to lower rates, they started using peoples credit ratings to determine auto insurance rates....... What a bunch of crooks.
Its shit like this that makes me glad I'm not buying health insurance.

The caps are total BS because they forget rehab for soft tissue takes long, but it is in response to tort laws that need reform.

On a side note the insurers for 9/11 did get it in the ass when the courts ruled that there were two attacks on the twin towers and thus the owners got more money from the insurance company who argued that the was one attack.

Leave it up to Guiliani who allowed for faulty radio equipment being used by firefighters, and thus the huge casualties.

[rob66679]

The caps are total BS because they forget rehab for soft tissue takes long, but it is in response to tort laws that need reform.

On a side note the insurers for 9/11 did get it in the ass when the courts ruled that there were two attacks on the twin towers and thus the owners got more money from the insurance company who argued that the was one attack.

Leave it up to Guiliani who allowed for faulty radio equipment being used by firefighters, and thus the huge casualties.

The caps were supposed to lower rates, but the whole premise that rates were up from soft tissue damage is BS. My Broker told me strait up that pretty much all the companys now are international or have investments in the stock market, and having to pay for 911 or losing money in the market does drive up rates....... Even though they try to play games around it to deny it.

I didn't hear that the 911 insurers had to pay it out twice.... Doesn't really seem right seeing as the claims would be based on the total number of people and/or value of property lost.

And even if they did, it has nothing to do with my driving.

The Government should sell auto insurance.

[drdnj]

^^ i tried that too, but my dad doesnt have a bike license, nor does he have ANY riding experience.

HOW THE **** DOES ANYONE ACTUALLY AFFORD THIS SHIT IN REAL LIFE IN THEIR OWN NAME WITHOUT HAVING A CAR INSURED IN THE SAME COMPANY?

I dont get it.

State Farm

[Bowlcut]

The caps were supposed to lower rates, but the whole premise that rates were up from soft tissue damage is BS. My Broker told me strait up that pretty much all the companys now are international or have investments in the stock market, and having to pay for 911 or losing money in the market does drive up rates....... Even though they try to play games around it to deny it.

I didn't hear that the 911 insurers had to pay it out twice.... Doesn't really seem right seeing as the claims would be based on the total number of people and/or value of property lost.

And even if they did, it has nothing to do with my driving.

The Government should sell auto insurance.

Go to sask and you get no-fault insurance. Problem with auto insurance is there is not enough competition and free entrance. You are corret that they have investments to make money, but if the institution does it correctly they want to have their loss ratios and expense ratios below 100% so they don't have to rely on investments to make money.

I aint defending them as we know insurance companies are almost as crooked as Jean Charest.

[gixxman]

Had state farm and insurance really wasn't that bad i would not pay any more than 1300 a year...but it is insane how much we get charged for the amount of riding season we have...in the States u ca get insurance for 25-50/month for any bike.