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Your Questions About Cheap Motorcycle Insurance

December 19, 2012

Michael asks…

Would motorcycle insurance be cheaper if I get an M1 now and not drive?

Should I get motorcycle insurance under my parents name?
Or should I just get the license and wait?
Anyone know a good/cheap company for insurance?
I’m 21 and live in Toronto. Thinking of getting a 2007 CBR1000RR.

Administrator answers:

Motorcycle insurance for someone under 25 is difficult to place and expensive. Motorcycle insurance for someone under 25 trying to insure a sport bike means your most likely going to be insured with the Facility Association, and for someone your age riding that bike living in Toronto means you’re looking at approximately $5,000 a year for just basic coverage (no Physical Damage coverage). Seeing how the Facility Association doesn’t allow any sort of payment plan for motorcycle insurance you’d have to come up with the entire $5,000 up front. So you can either wait until you’re older, choose a “tamer” bike or pay the $5,000.

Charles asks…

is motorcycle insurance usually more costly than auto insurance? whats usually the median cost?

I want to get a motorcycle and I have a car. I am selling my car and buying the bike. Am not worried about passing the licensing test or anything like that. Am wondering about how much motorcycle insurance runs. Anyone that can help with some examples or ratios in their personal life of how much a bike costs compared to a car?

Administrator answers:

Your insurance on your first bike will probably be more than your car insurance was. You will save some money if that bike a.) is not a sportbike, b.) has a small-ish motor (less than 1000cc), c.) is used and fairly cheap. Taking the MSF course will also keep your payments down.

As you gain a couple years experience, prove to be a competent rider (no tickets or insurance claims) and get a car again (so you can list your bike as a “recreational vehicle” on your insurance) your rates will go down and could be cheaper than your car.

EDIT: Bear in mind that the people throwing out numbers below are NOT new riders. They are experienced riders with more than one vehicle. Go to Progressive.com or somewhere are run a quote, you’ll see that you’ll be paying much more than what they are.

Steven asks…

What is the cheapest and smallest model of motorcycle available?

I’ve never ridden a motorcycle before and I’m looking for a cheap motorcycle to experiment with before I get serious. Any advice?

Administrator answers:

When i learned i wanted a real motorcycle to learn on yet i wanted to make sure both my feet were flat onto the ground when at a stop or just standing it up. Found an old 100cc harley and that is what i learned on first. Then graduated up to a yamaha 70′ enduro which had more weight to it but my feet were still flat on the ground.(hated the kick start on her, got whapped many times at my achillies tendon.. Ouchy so take that into consideration to electric start or kick start) now its an 89 sporty.

You dont want to learn on a “rice rocket” due to their speed.
Speed comes in time. First you need to learn respect, control, safety, and defensive riding. Remember learning on a dirt road is a big difference and learning on the street. If you have a local dealer that offers classes sign up for it. If you go through a class you not only get your liscence that way also but the insurance will cut you a break for taking it to.

Look in your local paper there are always used older bikes in there for sale or go to a smaller business that sells used bikes. Not a dealership.

Linda asks…

Is there a difference between AA membership or AA cover through your insurance?

I am an AA member where I pay monthly for my breakdown cover. I have recently renewed my motorcycle insurance. This came with AA cover. It seems that I get the same benefits with this insurance that I currently have at the moment. Except it is a lot cheaper with the insurance. Shall I cancel my AA membership and stick with the AA breakdown cover that came with the insurance? Is there any difference between the two? Your opinions will be greatly appreciated.

Administrator answers:

As an individual member you are covered whatever vehicle you are driving; the insurance version may only cover the insured vehicle

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