NEED ADVICE: Cheap insurance for a young, new rider with low displacement bike..

S

shanetyrer

New Member
I picked up a nice 1975 CB200 for $500 today, but I'm assuming insurance is gonna cost me an arm and a leg. I'm wondering if anyone has any advice on who I should go to for insurance.
I'm only 21. I have a M1 and a G2 (could get G any time). I have 1 speeding ticket (10 over).

Any info would be great.
Thanks a lot!
 
Can any of you Toronto guys help out on this question. I will be in a similar situation come spring (23/GM2). I have heard Jevco is the best for classics (over 25 years) but I have heard rider age restrictions ranging from 21-25. There is also almost a 50/50 split between people able to insure a classic with Statefarm and those who were told the bike is too old. Who should we be talking to in the GTA? In theory Statefarm would be an excellent choice due to their rates being prodominately based on cc's. One would figure that a 350,400,450,500,550 would be fairly cheap to insure.
 
Re: NEED ADVICE: Cheap insurance for a young, new rider with low displacement bi

shanetyrer said:
I picked up a nice 1975 CB200 for $500 today, but I'm assuming insurance is gonna cost me an arm and a leg. I'm wondering if anyone has any advice on who I should go to for insurance.
I'm only 21. I have a M1 and a G2 (could get G any time). I have 1 speeding ticket (10 over).

Any info would be great.
Thanks a lot!
Click to expand...

I got mine with Progressive for $212 usd a year. I'm 28 and I have a '75 cb500t
 
1982 gs850g, in the states. Cost me 75 a year through progressive. I'm twice yer age, tho', so I'm sure that factors in, and I have a clean driving record. (today LOL)

Mine is insured as a recreational vehicle. Dunno exactly what they mean by that, but hey, it means cheap insurance to me. ;D

loudest143
 
Re: NEED ADVICE: Cheap insurance for a young, new rider with low displacement bi

hey there,
i am i canada, brockville, ont.
i am 30 and through state farm, i paid 300 a year on my 175.
with only a m1. other companies would not even look at me with just the m1.
my 500 will be around 400-500 a year.
they only go by the year and size. it could be the fast machine out there with tunable suspension and they still would insure you. the older bikes are easier to insure though.
any way, thats the company i'm with.
word of advice though, when going in and talking to them, just tell them you want just you on it, no one else. not you mother, father, wife, etc.
they don't need to know who is living with you, and the license numbers.
any way, thats all i know about this.
good luck,
later.
 
Good luck guys, I'm in the same shitty boat as you. I'm 18 with an M2 and a G2, no tickets or anything riding a 1978 Yamaha XS400. How much did I pay for insurance last year?
...... $2300. Every damn insurance company I went to either said I was too young or my bike was too old. I only ever found 1 company that would insure me, through a local insurance broker. Thieving bastards. But if I want to ride, I've gotta pay it.
 
I am here in the staes and ride a 77 cb750k, i have a few tickets and i pay $230 a year with geico, I am also 23.
 
michigan sucks with insurance since its a "no fault" state.

i have no tickets or accidents and my car insurance is $115/month

last summer registering my first street motorcycle, gs550, ive been paying $30/month, $360 a year. and im 24.

i heard when you turn 25 it drops signifigantly though...
 
+1 for State Farm, I am also in Ontario.

I had to move my vehicle over also, thats the catch.

paying 67 per month/12 months a year for 1978 CB750k. I am 27 years old.
 
Im in toronto, 23 last year and i insured my 1980 CB125T, first year with M1, had my G for a year and G2 for 5 years previous, 1 ticket. Cost me 1100 with Jevco for the year. Called around and this was the cheapest. Statefarm will only take you with an M1 if youre over 25, and they generally dont like insuring older bikes for whatever reason. You might get an ok from a broker, but as soon as the underwriter looks at the policy and sees youre under 25 it will get cancelled. They have great rates for M1, but you have to be over 25. Jevco will take anyone with any licence, but its a bit more expensive. It drops after having your M1 for over a year (whether youre insured for that year or not, unlike all the insurance companies). My rate this year at 24 years old, still with an M1, would be 500 if i was keeping the bike.

As soon as you get your M2, or turn 25, look into switching.
 
Re: NEED ADVICE: Cheap insurance for a young, new rider with low displacement bi

Hey Shane - Small world, it's CC.

I was just looking here to see if anyone had any good insurance advice with the recent rate hikes. I've been with State Farm (Travis Cairns, Niagara) for 3 years, and my State Farm experience has suuuucked. Despite being over 35 and having no incidents or tickets, it's crept up and up, and something has gotten screwed up at least one in every 4 or 5 months even though it's direct deposit. Policy started in the $80s/month, granted that was my CB360 and now it's a 650 and I'm right downtown in TO, but they're trying to bump it up to $177? For just liability? Screw that.

Anyway, I just got a Dalton Timmis quote for $554 a year so I'm going with that.
Not sure how different your age/bike/situation will make your quote but they're worth a shot:
1-888-385-8466

PS. It's definitely retarded that no one still has a blanket policy for multiple bikes. How many at a time can you ride? (if your answer is greater than 1, please post video)

Also, anyone looking for a 79 CX500 in Toronto, drop me a line.
 
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