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How much do you pay annualy for insurance for your Ninja 250?
$0 0%  0%  [ 0 ]
$0-$100 51%  51%  [ 15 ]
$100-$200 17%  17%  [ 5 ]
$200-$300 17%  17%  [ 5 ]
$300-$400 3%  3%  [ 1 ]
$400-$500 0%  0%  [ 0 ]
$500-$600 3%  3%  [ 1 ]
$600-$700 0%  0%  [ 0 ]
$700-$800 0%  0%  [ 0 ]
$800-$900 0%  0%  [ 0 ]
$900-$1,000 3%  3%  [ 1 ]
$1,000-$1,100 0%  0%  [ 0 ]
$1,100-$1,200 0%  0%  [ 0 ]
$1,200-$1,300 0%  0%  [ 0 ]
$1,300-$1,400 0%  0%  [ 0 ]
$1,400-$1,500 0%  0%  [ 0 ]
Cowboy Neal doesn't need no stinkin' insurance 3%  3%  [ 1 ]
Total Votes : 29

Mumps (Lurker) View all posts in this topic  
Sun Mar 06, 2011 4:36 am
$278/year as an under 21        

bike value: $800
2001 zzr250
As it's a junker bike, i'm only have liability and fire/theft on it.
Full coverage would have been +$87.
Alberta
no accidents, claims or reports
Company: Blue Circle (actual carrier is Jevco)
Next summer, as a 21 year old, liability will drop $51.

One of my good friends works in insurance, and I've gone into some discussion with him over insurance rates (I originally figured he'd be able to pull some strings and get me the best deal possible). Now, I don't know how it works in the US, but it turns out us Canucks get pretty standard rates countrywide. These rates are standardized to the point that they can be openly viewed by anyone online.

Our rates are based on

Liability:
-Age bracket (<18, <21... )
-Engine cc size (<250, <500, <1000>1000)
-Traffic violations and at-fault insurance claims, ie. clean driving record (the "point" system, maxing out at -6... the best. it resets after any at-fault claim)
-years of coverage (I forget the ranges for this, it worked out to be fairly unimportant compared to the rest)

Fire/theft**:
-Value of vehicle*. Default is sale price, but if you prove any non-maintenance related alterations they can be included (and yes... you DO have to update this BEFORE you get into an accident with it and make a claim on the vehicle).

Collision:
-Value of vehicle*. (gear is included in this, but I don't know of any formal procedure for it)

*Based on the sale value (given on bill of sale), year of make.. kbb value.
**Apparently there is no cost change for how the vehicle is stored, indoors, out doors, with/without alarm. But my friend says it will make any negotiation with your company a lot more in your favour in the event of such a claim.


Thus, in the only thing i'm not lazy about- being as cheap as humanely possible- I got over a dozen quotes for my bike insurance, and got my friend to check them all if they could be ... lowered, they all came in at 278-330/year. And they could not be adjusted. a 600cc would have neared $1000 for full coverage for me, but under $200 for my dad of 65.

In short, riding a motorcycle costs what it costs. And for me, I justify it with how much enjoyment that I get from it. Rates will go down when I get older, and if I keep a 'small' bike. But at some point it's worth biting bullet and just going out and riding for what it is.

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