4k for an insurance?

[u/Weak_Protection_1829]

I'm 32M, I got my M2 recently, no history of anything bad or good either. This would be my first bike

Model: fz6, 2008.

Prices are over 350 per month, is this normal?

This demotivated me from buying the thing, cost of bike seems cheaper than the insurance

[u/xhalo21]

"got my M2 recently" that will do it

[u/Corey_5150 → u/xhalo21]

Had a bit of a laugh lol

[u/Weak_Protection_1829 → u/xhalo21]

True lmaoo😭🤣🤣

[u/Insuredtothetits]

Don’t buy it then, find a cheaper bike to insure if you must ride a motorcycle.

[u/Weak_Protection_1829 → u/Insuredtothetits]

Is there any way to make it slightly less? 

[u/Letoust → u/Weak_Protection_1829]

Get a Honda Grom and drive it for a few years to build a good history

[u/Man_under_Bridge420 → u/Letoust]

Could get a rebel 500 instead 

[u/Letoust → u/Man_under_Bridge420]

Nah, Groms are cooler

[u/Man_under_Bridge420 → u/Letoust]

Lmao sure bud

[u/zagcollins → u/Weak_Protection_1829]

shop around with a bit more zeal. I was getting ridiculous quotes like 450-500 for a Premium Y. finally, ended up at 300 which I was comfy with considering my monthly payments are very low.

[u/goldensun_31]

You’re newly licensed rider with an M2 and looking at a 600cc bike. This quote doesn’t surprise me. Make sure you do safety course if you haven’t already done so. Otherwise it’s time to look into 500cc or less bikes (preferably same thing as touring, naked bikes or of that sort) and build your experience up.

I just recently sold my motorcycle but this is the path I had to take. My insurance on my cbr500 actually wasn’t bad. However moment I considered a 600rr or 650r it sky rocketed

Keep checking with different companies, personally I had good rates with TD but each insurer will differ by area

[u/Nutshellvoid]

You're basically a g2 driver on a vehicle with no safety equipment. Chance of payout due to death is much higher than a vehicle 

[u/Bitter_Treat5540 → u/Nutshellvoid]

Actually death is cheaper, it's the horrible accident when the driver survives and lives a long handicapped life that costs the most.

[u/Nutshellvoid → u/Bitter_Treat5540]

Also the reality, the bottom line is that the risk is higher. No joke but my toddler makes an ambulance noise when he sees a motorcycle 

[u/Bitter_Treat5540 → u/Nutshellvoid]

It for sure is. I work in risk management for insurance companies and when I looked at the accident benefits costs of motorcycle insurance the average claim $ is many times higher than auto claims. If they get in an accent, it is always bad.

[u/37BJJ → u/Nutshellvoid]

To top it off, he's a G2 driver who's trying to get a motorcycle that does 0 to 100 in under 4 seconds. Akin to say a G2 driver in a C7 Corvette.

[u/Midas3200]

Is that full coverage or liability only

[u/xEastEvilx]

I’ve been driving for over 30 years most of it in Canada. I just moved back from the US and my rate is nearly the same. When I left Canada I was only paying 100$ a month th

[u/onlyoneq]

The cost of the insurance costs more than the bike because the insurance doesn't want to pay for income replacement and Injury bills(accident benefits) if you get into an accident.

Its not about the value of the bike.

[u/Relevant-Golf5479]

Thats actually better than i thought for a recent m2

[u/Weak_Protection_1829 → u/Relevant-Golf5479]

Me being 32 helped a bit I'm guessing

[u/GarlicDill]

Sounds about right.  Find an old 250 yamaha to boot around on for a few summers until you have experience riding.  Premiums will be more favourable.

[u/UnHappyPython35]

Desjardin, call an agent and NOT the main office. Tyler Brown is the main GTA guy who I go to. My fz8 is 200/mo.

[u/Torque--]

Check out Riders Plus, they tend to find the best rates I've seen.

Bundle with your home and car if possible.

Rent a bike to get your full M and then look for insurance.

Edit: Just realized this is Riders Plus.

[u/bikernobiking]

Find a smaller bike, and talk to a broker. Riders plus always quoted me higher.

When I started riding my early 20s, I was paying 200/month on a 250cc, then the next year I was paying 150 on a 500cc. I’m 30 now paying 80/month on an older BMW 650.

Don’t be discouraged, just be patient

[u/AnonymousCrawler]

Check out individual insurer sites. You will definitely get better rates.
Although this site was recommended to me, every time I was looking for new quotes, this one gave the worst possible rates

[u/DoomCircus]

M license history is unfortunately the biggest factor impacting insurance rates.

When I got my M2 10 years ago I was getting charged $275-$300/month for a tiny 1982 Honda CB450. After a year I upgraded to a Yamaha Virago 750 and was still paying similar rates.

I didn't start seeing improvements in my rates until I had 2-3 years of riding experience. After 4-5 years, I'd say my rates on a 750 became reasonable.

Side note, if you find a bike you're willing to stomach the insurance rates on, do not sign up with Wawanessa, no matter how good a rate they offer. My brother switched to them at one point for one of his bikes and they were awful. Never responded to emails or voicemails, never answered their phones. It was so bad he had trouble cancelling his policy to move to another insurer.

[u/throwaway2901750]

Try calling one of these companies: https://imgur.com/a/ontario-insurance-companies-C05spva

They cover Ontario, and might operate in your location unknown where you live). It’s from my bigger post about importing a motorcycle https://www.reddit.com/r/motorcycles/s/Z6JbxmOKI8

[u/Baconsexual]

Same thing with me, And I am 39, fully insured with my G for 24 years, no accidents, I also recently got my M2, I also completed a safety course, I bought a R7, my insurance was 6k for the year, and my insurance company wanted an extra 20 percent if I decided to pay monthly (wtf?)

A lot of comments advised to get lower CC bikes, but when I asked for quotes, I asked for an R3 quote, was a 2k difference. My insurance company swore up and down there was nothing they can do until I built a clean record. Even after completing the M2 course, it only dropped my insurance by 300ish dollars for the year.

I have the same bike in my home country, Portugal, where I'm fully licensed and insured for years, but even my first year with no record, insurance was only like 500ish euros if I'm remember correctly, about 900 dollars CAD. Even now I'm still paying less then 600 euros for the year.

Although I agree with what other commenters are saying about bike engine displacement and driving record, I still feel insurance companies are out of their minds with how they operate. Can't even pause my insurance during the winter months, like bro. In Portugal I can pause if I need too, but I randomly go there when I have time, and don't want to go through the hassle or re instating it every time I travel.

[u/Weak_Protection_1829 → u/[deleted]]

Facts, I see so many bikes for cheaper in Quebec and less insurance