Topic: Insurance Quote...hmm?

[GRH_AV8R]

So I've been going  to a few insurance places in and around town as well as making some phone calls to get a quote for next spring when I will have my bike on the road again, and well I'm not sure if the quotes I'm being given are quite accurate...

Most of the quotes are in the $360 range...plus or minus $20 or $30 from company to company.

Is this the price I can expect to be paying, because I've always heard that insurance for people like me (under 25) and on a medium displacement bike would be much higher?

Anyway, let me know your thoughts on this because if this is really the case and these prices are accurate I'm been sweating over nothing much at all...I was thinking that I'd be paying well into the thousands with my age and experience.

Thanks!

Graeme

[HondanutRider]

Your quotes are very good!  I also would have thought that they would be higher, given your age.  It also is often difficult finding coverage for vehicles over 30 years of age, from what I've experienced.  For my 350F I have had to get coverage from Dalton Timmis who specialize in vintage-era motorcycles, as coverage was not seemingly available elsewhere.  They only have a full-coverage policy, require a recent appraisal, and it costs me over $400 for the year.  (BTW I have a clean driving record, am retired, and have been riding motorcycles since 1964...maybe that's my problem. )

Where are you getting quotes?  I may want to switch - or lie about my age.

[Tom in Newcastle......Ontario]

I'm with a broker and the best she could do is approx $500,PL/PD only no collision, with Jevco,,I'm old also 52,riding for approx 30 years clean record,I'm in Newcastle which is considered the GTA which sucks..

I would be interested where you are getting your quotes also.if they are quoting you with Kingsway ,ask them again because Kingsway will NOT carry bikes over 30 years old

[beelsamin]

Are you being quoted full year rates or 6 month rates ? I'm with Waterloo Insurance and I'm paying $385 for the year for my '78 CB550, I'm also 58 and have been riding 40 years...at 16 years old I'm amazed you're only being quoted $360 or so....

[BobbyR]

I could throw my 2 cents in but in Canada you seem to have more complex and complete coverages than the US. I simply can buy liability which does not cover injury to me or damage to the bike. If I start adding those coverages in, the price goes way up.

[Eau_Rouge]

I'm 31 years old and just got my M2 licence earlier this year.  My insurance broker (state farm, been with state farm for over 10 years, clean record) verbally quoted me a range of $45/month for a Honda CB350 to $63/month for a CB550.  This is for full collision with half a million liability...wish it were lower but given I just got my licence, it's not bad.  Also, to point out, other insurers that I got quotes from for a CB550 (full collision, same liability) were quoting higher at around $1000 for the year.

Edit to say that I live in Oakville.    

[HondanutRider]

I could throw my 2 cents in but in Canada you seem to have more complex and complete coverages than the US. I simply can buy liability which does not cover injury to me or damage to the bike. If I start adding those coverages in, the price goes way up.

Liability insurance here in Ontario covers personal injury for the operator and passenger, besides the obvious laibility for damages you might cause.  Even with OHIP that supposedly is the reason that motorcycle insurance is so expensive here, as any accident on a motorcycle is likely to involve much more injury and rehabilitation than in any other type of vehicle.  Collision and Specified Perils (e.g. Fire&Theft) are additional coverages that can usually be obtained as an option.  Legally, all vehicles are required to carry a minimum $200,000 Liability.

[GRH_AV8R]

Sorry about the late reply...

The quote that I got for $363.00 was through Wawanesa

Hope that helps some of you getting some good or better insurance rates

Graeme

[Rick4004]

I know this doesn't help you, but, you guys are getting off easy. My 76 CB400F is $1100.00, and that is with a 25% good driver discount. (as high as you can go)

That is for the most basic insurance (does include collision, not optional, but no theft/fire/vandalizm) , a $500 deductible, and a bike value of less than $1000.

Public Insurance here in Manitoba, so we have no choice but to pay up, or don't ride.

They also have it structured so that you pay the full amount over a 5 month period (May-Sept), so even if you just wanted to register for a month it would be $1100/5 instead of $1100/12.

Rick

[Tintop]

I've been looking into getting 'agreed value' insurance (based on an appraisal) for my bikes.  At this point it doesn't look to be any more expensive.  What I have found is that if you say you use it daily (eg ride to work), the rates go up very quickly.  I should be getting the appraisals done in a couple of weeks, and will post back the results then.

[Loki]

hey guys, just read over this thread, and was amazed at all the ridiculously low prices people seemed to be quotes for! i have a 77 cb550 and with dalton timmis i was quoted at $1190/yr. im 25 have my m2....but three minor tickets... ...one gent my age is this thread say he was under $400!! my three minors couldnt drive my quote up $800 could it?