One other big one: shop around. When I was getting quoted for my first bike, I got prices from $1350 - $3000. The only thing that changed between these quotes was the company providing them. Spending an hour or two making phone calls could save you $1000 a year or more.
In manitoba we have the highest motorcycle insurance rates in the country. A new rider with zero discount 200/ded and comp will run about 2500+/- for the year! Based on 600cc supersport.Thankfully I seen this video prior to insuring my bike which is a CB300F, and ended up costing me about 900$ for the year. All basic coverage and no comp coverage and zero discount.So thanks for the tip brother! Might I add another way to save...I went to an insurance broker (its all the same here) and checked to see how much it would cost to have it insured under my wife. Clean driving record and full discount, my CB300F with the same coverage I have would now be about 700$ for the year.
If you take a motorcycle safety course..... do you get a reduce payment throughout your whole entire motorcycle riding career? I don't get how it works because if you go through another insurance company and show them that you did take your course, do you continually get discounts over and over even if you are already have years of riding under your belt? If so, taking the course is such a huge benefit, like as you pointed out, the money you saved will already covered the classes.
Good points, doesn't apply to Manitoba, though. Compared $200 deductible for both mandatory and comprehensive with $10M liability: cost of insurance $899; $500 deductible (max value) for mandatory only with no comprehensive and $5M liability: cost of insurance $806. The difference is $93/year. It will take me 60+ years to save for replacement of my 2014 Honda CB500XA :)
My lowest motorcycle insurance quote was 325 a year for only liability. They offered me 250 deductible comprehensive added for an additional 125 and I took it. I pay 40 a month
That sounds like a good deal if you have an expensive bike. The only other thing I would add is you might as well pay it in cash if they charge a monthly finance fee.
I meant pay once a year for insurance instead of monthly because there is a finance fee if you pay monthly, but $40/month is still an excellent premium.
Getting full comprehensive insurance in Australia absolutely kills your wallet if you're under 25... I'm 19 turning 20 this month, and I pay $2500 a year for a 2016 Yamaha MT 07... This is through the Yamaha insurance company too, and it's the cheapest I could get
I pay $41/ month aka $490 a year for full coverage minus flood coverage (or something like that) on my DRZ400sm here in Texas at 19 years old. But that last part, you sure it wouldn't be worth it to keep the comp/full coverage? As in shouldn't I keep it in case I get injured or the people in the car get injured?
Biggest insurace saving tip...... move to Scotland. Less cops, some of the best roads in the world and my insurance for two motorcycles (bmw f800st & an Aprilia pegaso) was the equivalent to 435ish Canadian dollars a year full comp. 😁
Insurance is the gamble you always want to lose. Pay it and never use is the only way to win big with it, cause they will bend you over if you really use it. It shouldn't be that way, but it is. It makes total sense to have $$$ stashed away in the safe instead of, like you said BB, paying it twice. Everyone has to figure out what works for them, because we are all not in the same situation. If everyone had insurance like they are supposed to, the cost could go down, because the insurance companies wouldn't be paying out and not recovering from idiots that wreck and have no assets to cover the damages. And people paying attention would be GREAT also! Get off the phone while driving people! It's illegal here, but so is "spirited" riding, so I will just leave that one alone haha.
Motorcycle insurance in Arizona is mandatory, regardless of your driving record or age if you ride a sport bike (1000 cc) or Hyper Sport like my Sport/Touring Hayabusa you will pay premium prices. I'm 63 with a perfect riding and driving record. Owning 3 motorcycles, 2002 FZS 1000, 2010 GSXR 1000 and a 2013 GSX 1300 R cost me over $ 4,000 U S dollars a year! and I put less than 5,000 to 8,000 miles total per year total for 3 motorcycles Mind you I own 4 cars/trucks on a separate policy. Being single I can't drive them all but surely have to over pay for my motorcycles. Imagine my Corvette cost less insurance than my oldest 1000 cc motorcycle?
I am age 60 and ride a 2002 harley 1450 softail and purchased one year of liability for 75.00 for a whole year!!! And just purchased comprehensive for the same bike at 500 deductable for 37.00 for a full year. This is in Texas. Dont you just hate me? And this 02 is worth having comp for beng the nada pay out if a claim happened of theft would pay at least 5800.00 and the KBB value is 7295.00
Earl Guyton When I had my soft-tail ,insurance for full coverage was very affordable. I know that I'm riding the two most dangerous motorcycles you can insure. But I'm not a youngster with no experience on motorcycles. In fact I haven't had a single ticket in forty years. I'm happy you got the going rates for a Harley, I just don't think I should pay the premium of a twenty year old rider with no experience. I shouldn't complain because I do ride bikes that crazy kids get killed on. Ride safe!
I like a LOUD bike that is heavy and slow like me, LOL. These CVO twin with 4 inch stroke arent race bikes for sure, but even as a teen I was never into speed and liked large heavy cars. Im using prgressive insurance right now and maybe this will help and have found that before I bought it, that allstate offered a fair rate . Farmers? They are terrible. They wanted 209 for the liability and 165.00 for the comp. I too am a no ticket no accident person as yourself. I get insurance for cheap on my 3 cars also that are payed for and dont carry comp on them and btween two providers I pay about 32.00 per month each on 89 cadillac and 02 ford f150 and 98 dodge ram. These days playing the insurance game reminds me of the stock market.
Earl Guyton I have Progressive also. but I carry full coverage,uninsured,underinsured,medical,custom parts whole 10 yards. Can't count on others being insured in our border states
I do agree that most should have uninsured. There are unlegitmate people out driving around. Up several blocks from me right here in Houston Tx, there are cars parked by people that hang out and drink out side by this taco van in a convenience store parking lot and there are actually cars with expired registration. Dont know about other states, but in Texas usually if a persons registraion is expired its a tel take sign of no insurance and no vehicle passing inspection. Its like a step latter here in where you must have liabilty first to get the inspection and then it must pass or you cannot get the regictraion. So if the registration is expired then you can be most certain the other two never happened. Im just one of your old fair weather riders. I actually wear a white suit shirt when I ride my harley because it reflects the sun and motorist can see you better. When I bought this latest bike at san jacinto harley they were nice and they give you two harley T shirts for free, but they are black. I dont understand harley guys wearing black as its conflict to the odds of averages and white reflects the heat better. The arabs are smart on that issue. Maybe those bikers go for black because after a week on the road the dirt doesnt show up as much. Even though I like harleys I dont understand the people that ride them. On the insurance it dependent on the situation. Such as me I use AAA RV and and have any many tools and do all my own repairs with quality parts and for one type of mechanism which is shovels to evo to cvo twins , then I dont go any farhter than 10 miles away and never ide when the traffic is people going to work or getting off work and that type of thing. Its based on the useage and WHERE and for what and where its parked. Luckily mine is in my garage at my house but may God help anyone that parks any bike at apartments.
Interesting points. In Saskatchewan, we have government insurance. Everybody is required to have the same basic coverage. After that, you purchase upgrades onto your insurance. In the case of bikes, next year, you will pay 500 a year on your learners if you do not take a course. If you take a course (under 500) and dont have any violations while in the graduated license period, they pay you back for it! Our insurance is wierd here....
Saskatchewan is a very unique province in terms of infrastructure. It is good and bad at the same time. Many decades ago, when times were tough, a socialist party got elected here and set up some interesting things. Anything deemed a vital or necessary service was to be government. Gas, Power, Phone and Vehicle insurance is entirely government run and mandated. There is many other bits as well, but those are pretty much the main ones. SGI (Saskatchewan Government Insurance) is the only available insurance for vehicles. A person can get package policies to add more liability, lower deductible, cover vehicles in storage, etc. This allows a balanced rate meaning a new driver pays same as an old driver. Rate you pay varies entirely on driving record. As you drive good, it goes down. Gain points, up it goes. Essentially, if you ride for 20 years, it costs about same as other provinces. Difference is, other provinces, your first couple years are horrendously expensive, and if you have one fault, even if a previously perfect history, going to be expensive for a long time. Here, it costs you same base new as if you have been motoring for 20 years, if you have that one fault, but years of good driving record, you do lose points, but because you have a high positive point rating, it is essentially accident forgiveness. Because it is government, it is zero profit. Rates are based entirely on revenue vs. exenditures over several years for each vehicle year, make and model. Bikes are just class and displacement. Rates go down and rebate if a class is determined to be paying more than was required. Is very interesting. Problem with that was, the cost of a bike crash and not many in the pool. Poor training, oversight and ease of entry meant that a few bad riders caused rates to skyrocket. We did not want to implement a high rate for first years simply because of the large quantity of new riders who are responsible. Accountability was name of the game. To balance it, we made legislation to encourage better gear and training. Result is now rates are lower for everybody, fewer getting hurt, can ride what you wish at reasonable cost. Sport bikes still very high rate.
I guess it is a similar scenario in private insurance except there is little motivation for them to lower the premiums because they need to turn up a profit. I like how that system motivates new riders to take a safety course. It's a win-win situation. Thanks for the explanation.
One other big one: shop around. When I was getting quoted for my first bike, I got prices from $1350 - $3000. The only thing that changed between these quotes was the company providing them. Spending an hour or two making phone calls could save you $1000 a year or more.
Good tip. Thanks for watching.
Subbed, that was great video on the insurance jungle we have here in Canada, especially Ontario. Good job Brady.
In manitoba we have the highest motorcycle insurance rates in the country. A new rider with zero discount 200/ded and comp will run about 2500+/- for the year! Based on 600cc supersport.Thankfully I seen this video prior to insuring my bike which is a CB300F, and ended up costing me about 900$ for the year. All basic coverage and no comp coverage and zero discount.So thanks for the tip brother!
Might I add another way to save...I went to an insurance broker (its all the same here) and checked to see how much it would cost to have it insured under my wife. Clean driving record and full discount, my CB300F with the same coverage I have would now be about 700$ for the year.
Zingy Mantella here a new rider 600cc bike 10k
This is great! Thanks so much for the tips
If you take a motorcycle safety course..... do you get a reduce payment throughout your whole entire motorcycle riding career? I don't get how it works because if you go through another insurance company and show them that you did take your course, do you continually get discounts over and over even if you are already have years of riding under your belt? If so, taking the course is such a huge benefit, like as you pointed out, the money you saved will already covered the classes.
You got a new sub sir! Awesome video!
Good points, doesn't apply to Manitoba, though. Compared $200 deductible for both mandatory and comprehensive with $10M liability: cost of insurance $899; $500 deductible (max value) for mandatory only with no comprehensive and $5M liability: cost of insurance $806. The difference is $93/year. It will take me 60+ years to save for replacement of my 2014 Honda CB500XA :)
My lowest motorcycle insurance quote was 325 a year for only liability. They offered me 250 deductible comprehensive added for an additional 125 and I took it. I pay 40 a month
That sounds like a good deal if you have an expensive bike. The only other thing I would add is you might as well pay it in cash if they charge a monthly finance fee.
Thanks for the response. The bike is paid off and it's worth a good chunk. Possibly $5k
I meant pay once a year for insurance instead of monthly because there is a finance fee if you pay monthly, but $40/month is still an excellent premium.
Getting full comprehensive insurance in Australia absolutely kills your wallet if you're under 25... I'm 19 turning 20 this month, and I pay $2500 a year for a 2016 Yamaha MT 07... This is through the Yamaha insurance company too, and it's the cheapest I could get
Pickle Rick rip
I pay $41/ month aka $490 a year for full coverage minus flood coverage (or something like that) on my DRZ400sm here in Texas at 19 years old. But that last part, you sure it wouldn't be worth it to keep the comp/full coverage? As in shouldn't I keep it in case I get injured or the people in the car get injured?
Nice job sir.
lmdetect Thanks for the comment.
Biggest insurace saving tip...... move to Scotland. Less cops, some of the best roads in the world and my insurance for two motorcycles (bmw f800st & an Aprilia pegaso) was the equivalent to 435ish Canadian dollars a year full comp. 😁
Russ Barrack asian dont pay no insurance lol
Awesome
Yeah my insurance for my truck alone is already 350/month lol so fuxk it aint even gone bother to get insurance nor license for my bike
What about a 31yr old male first time rider with no driving record?
Very imformative video Go Canada!
Insurance is the gamble you always want to lose. Pay it and never use is the only way to win big with it, cause they will bend you over if you really use it. It shouldn't be that way, but it is. It makes total sense to have $$$ stashed away in the safe instead of, like you said BB, paying it twice. Everyone has to figure out what works for them, because we are all not in the same situation. If everyone had insurance like they are supposed to, the cost could go down, because the insurance companies wouldn't be paying out and not recovering from idiots that wreck and have no assets to cover the damages. And people paying attention would be GREAT also! Get off the phone while driving people! It's illegal here, but so is "spirited" riding, so I will just leave that one alone haha.
Motorcycle insurance in Arizona is mandatory, regardless of your driving record or age if you ride a sport bike (1000 cc) or Hyper Sport like my Sport/Touring Hayabusa you will pay premium prices.
I'm 63 with a perfect riding and driving record. Owning 3 motorcycles, 2002 FZS 1000, 2010 GSXR 1000 and a 2013 GSX 1300 R cost me over $ 4,000 U S dollars a year! and I put less than 5,000 to 8,000 miles total per year total for 3 motorcycles Mind you I own 4 cars/trucks on a separate policy. Being single I can't drive them all but surely have to over pay for my motorcycles.
Imagine my Corvette cost less insurance than my oldest 1000 cc motorcycle?
I am age 60 and ride a 2002 harley 1450 softail and purchased one year of liability for 75.00 for a whole year!!! And just purchased comprehensive for the same bike at 500 deductable for 37.00 for a full year. This is in Texas. Dont you just hate me? And this 02 is worth having comp for beng the nada pay out if a claim happened of theft would pay at least 5800.00 and the KBB value is 7295.00
Earl Guyton When I had my soft-tail ,insurance for full coverage was very affordable.
I know that I'm riding the two most dangerous motorcycles you can insure. But I'm not a youngster with no experience on motorcycles.
In fact I haven't had a single ticket in forty years.
I'm happy you got the going rates for a Harley, I just don't think I should pay the premium of a twenty year old rider with no experience.
I shouldn't complain because I do ride bikes that crazy kids get killed on.
Ride safe!
I like a LOUD bike that is heavy and slow like me, LOL. These CVO twin with 4 inch stroke arent race bikes for sure, but even as a teen I was never into speed and liked large heavy cars. Im using prgressive insurance right now and maybe this will help and have found that before I bought it, that allstate offered a fair rate . Farmers? They are terrible. They wanted 209 for the liability and 165.00 for the comp. I too am a no ticket no accident person as yourself. I get insurance for cheap on my 3 cars also that are payed for and dont carry comp on them and btween two providers I pay about 32.00 per month each on 89 cadillac and 02 ford f150 and 98 dodge ram. These days playing the insurance game reminds me of the stock market.
Earl Guyton I have Progressive also. but I carry full coverage,uninsured,underinsured,medical,custom parts whole 10 yards. Can't count on others being insured in our border states
I do agree that most should have uninsured. There are unlegitmate people out driving around. Up several blocks from me right here in Houston Tx, there are cars parked by people that hang out and drink out side by this taco van in a convenience store parking lot and there are actually cars with expired registration. Dont know about other states, but in Texas usually if a persons registraion is expired its a tel take sign of no insurance and no vehicle passing inspection. Its like a step latter here in where you must have liabilty first to get the inspection and then it must pass or you cannot get the regictraion. So if the registration is expired then you can be most certain the other two never happened. Im just one of your old fair weather riders. I actually wear a white suit shirt when I ride my harley because it reflects the sun and motorist can see you better. When I bought this latest bike at san jacinto harley they were nice and they give you two harley T shirts for free, but they are black. I dont understand harley guys wearing black as its conflict to the odds of averages and white reflects the heat better. The arabs are smart on that issue. Maybe those bikers go for black because after a week on the road the dirt doesnt show up as much. Even though I like harleys I dont understand the people that ride them. On the insurance it dependent on the situation. Such as me I use AAA RV and and have any many tools and do all my own repairs with quality parts and for one type of mechanism which is shovels to evo to cvo twins , then I dont go any farhter than 10 miles away and never ide when the traffic is people going to work or getting off work and that type of thing. Its based on the useage and WHERE and for what and where its parked. Luckily mine is in my garage at my house but may God help anyone that parks any bike at apartments.
Interesting points. In Saskatchewan, we have government insurance. Everybody is required to have the same basic coverage. After that, you purchase upgrades onto your insurance.
In the case of bikes, next year, you will pay 500 a year on your learners if you do not take a course. If you take a course (under 500) and dont have any violations while in the graduated license period, they pay you back for it! Our insurance is wierd here....
MarkusReese What do you mean by "government insurance"? Is it subsidized? That's the first I've heard of that type of arrangement.
Saskatchewan is a very unique province in terms of infrastructure. It is good and bad at the same time. Many decades ago, when times were tough, a socialist party got elected here and set up some interesting things. Anything deemed a vital or necessary service was to be government. Gas, Power, Phone and Vehicle insurance is entirely government run and mandated. There is many other bits as well, but those are pretty much the main ones.
SGI (Saskatchewan Government Insurance) is the only available insurance for vehicles. A person can get package policies to add more liability, lower deductible, cover vehicles in storage, etc. This allows a balanced rate meaning a new driver pays same as an old driver. Rate you pay varies entirely on driving record. As you drive good, it goes down. Gain points, up it goes. Essentially, if you ride for 20 years, it costs about same as other provinces.
Difference is, other provinces, your first couple years are horrendously expensive, and if you have one fault, even if a previously perfect history, going to be expensive for a long time. Here, it costs you same base new as if you have been motoring for 20 years, if you have that one fault, but years of good driving record, you do lose points, but because you have a high positive point rating, it is essentially accident forgiveness.
Because it is government, it is zero profit. Rates are based entirely on revenue vs. exenditures over several years for each vehicle year, make and model. Bikes are just class and displacement. Rates go down and rebate if a class is determined to be paying more than was required. Is very interesting.
Problem with that was, the cost of a bike crash and not many in the pool. Poor training, oversight and ease of entry meant that a few bad riders caused rates to skyrocket. We did not want to implement a high rate for first years simply because of the large quantity of new riders who are responsible. Accountability was name of the game. To balance it, we made legislation to encourage better gear and training. Result is now rates are lower for everybody, fewer getting hurt, can ride what you wish at reasonable cost. Sport bikes still very high rate.
I guess it is a similar scenario in private insurance except there is little motivation for them to lower the premiums because they need to turn up a profit. I like how that system motivates new riders to take a safety course. It's a win-win situation. Thanks for the explanation.
This is great! Thanks so much for the tips