Just got an insurance quote...

[Chris_B]

for my recently aquire 1999 GS500. $2300 stating now, which gives me about 2 months more fo riding...I live in central ontario an hour os so north of toronto. Im 16, no tickets, no accidents, I took the MSF coarse. Im saddened by this news. It looks like come spring I will be selling my GS to pay for insurance on my other bike, a cb360, the one im ridding now. Does 2300 seem extrmely high to anyone else?

[jiggersplat]

yes.  first of all that is way too high.  second of all, get liability only.  you can buy a new gs every year with a $2300 premium.

[goat]

That's really high for the US, but I don't know about canada. I believe that insurance rates in canada are generally higher but seeing as I don't live there, I don't know for sure.

[Chris_B]

2300 is for liability only. Im paying 1700 for the 75' CB360. Ill call a few more insurance company's.

[RVertigo]

Holy crap...  You might try calling an insurance agent too.  They have a database they can search to find you the best rates.

[gikim1118]

yeah i don't know about canada but I pay $115/ yr for liability in U.S.

[Runner]

I would have to say that $2300 is impossible.  Liability coverage is solely to cover the insurance company's risk of the damage that you may do to someone else.  With a GS500, that risk is virtually none.  Liability coverage on my 04 GS500F is less than $100 a year.  I have $750,000 in liability coverage on an 05 Ford AND a 97 Mercury, AND comprehensive coverage with a $500 deductibel, AND full glass coverage, AND $750,000 in uninsured/underinsured motorist coverage -- and all this on two vehicles doesn't cost me $2300 a year.  I'm not 16 years old (unfortunately), but something seems drastically haywire -- are you SURE that you and the insurance company aren't misunderstanding each other?

[stefman722]

I live in winnipeg and my old man insures it under his name for me and it costs me $1600 for the year. If I were to register it, i would pay $2000 for the year. In Manitoba we have a crown corporation insurance company (government insurance) so we cant shop around you pay whatever they tell you to pay. haha. But its still alot cheaper then the private insurance in ontario.

[Jazzzzz]

Since no one else has made the joke yet (I guess davipu is sleeping):

$2300 Canadian is like, what, $300 American, right?

I'll go back to my corner now (thanks to the devaluation of the ol' greenback that joke's not really based in reality anymore, either).

Seriously though, you're getting hosed, I'm amazed anyone rides a bike if the insurance rates up there are that bad.

[Chris_B]

I deal with kindsway rigth now but i go through an agent. I called state farm to, they quoted me 2400. the prices seem pretty consistent so far.

[roguegeek]

For liability only, I'm paying $101 for the whole year.

[My Name Is Dave]

Yep, something's wrong there. I pay 200 a year for full coverage. Are you paying in pesos?  

Dave  

[Chris_B]

i wish. my dad has an 81 maxim 750, he has a perfect dirving record etc etc. he pays about 550, is that normal? seems high? But all the insurance companies around here quote you the same.

[werase643]

where is here....
someone local might know a better agent

[stefman722]

Since no one else has made the joke yet (I guess davipu is sleeping):

$2300 Canadian is like, what, $300 American, right?

I'll go back to my corner now (thanks to the devaluation of the ol' greenback that joke's not really based in reality anymore, either).

Seriously though, you're getting hosed, I'm amazed anyone rides a bike if the insurance rates up there are that bad.

There are alot of bikes up here. I dont mind paying. I love to ride, so ill fork out the cash, and ill be upgrading bike in the next couple months, so it will be higher. It comes with the sport. And to be more precise, haha, with the current exchange rate of 0.824608 USD$ to 1.21270 CAD$ the amount of $2300 will total to 1,896$ american. haha. Not 300$.  

[RedShift]

I deal with kindsway rigth now but i go through an agent. I called state farm to, they quoted me 2400. the prices seem pretty consistent so far.

What would the rates be if you were married and she had a child on the way?  Not that I'm suggesting you take such a drastic step, mind you...

Sadly, I think your dad is getting a reasonable deal, but the punitive pricing you're being quoted seems rather unfair.  Obviously 16 year-old motorcyclists and insurance companies don't seem to get along.

[captain]

i too am 16 w/no tickets or problems (in my province) and im paying 680 yr. for liability. 2300 does sound like an awful lot and you could try searching around. tho i know in calgary alberta (my place) there is only one insurance company that will accept 16 yr motorcyclists so i ahve no choice.....

[Recreational_Anxiety]

Sorry to say, but that sounds just about right for Southern Ontario.  Insurance rates are really out of hand.  I pay $1000/year on my '93 GS and I'm 28 with no tickets or accidents on my record.  My first car (a 12 year old Topaz  :guns: ) cost me $2200 (liability) for the first year to insure it (I bought the car for $1000) - figure that one out.  Unfortunately, as far as the insurance company is concerned, you have a few reasons why you are high risk:  1. You are male - so naturally you're much more aggressive on the road.     2.  You are 16 years old - young and immature.     3.  You're a new motorcycle rider - that's worse than a new car driver.... this is what the insurance company thinks when they see your profile.... this is all I can say to the insurance industry in Canada   :nana: .    Oh, and don't worry about your ass getting sore from riding, the insurance companies will already have numbed you out quite a bit after bending you over the desk and screwing you.  No, I'm not bitter about our insurance rates at all.... or gas prices

[97gs500e]

you ride with insurance?

[scottpA_GS]

Thats some crazy pricing!!! I cant see why Liability would be so much! You should just rent an APt in the US in the Ghetto for like $100. a mo. register and get insurance here

I pay Progressive $69.00 a year 29M, no accidents