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  1. tennyson.mike

    tennyson.mike Limited User

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    Hey guys,

    In the next week or so I am going to be picking up my first motorcycle. I was hoping to have my license by now but it turns out I can't see worth a damn and have to get glasses haha. Anyways to the insurance question. I asked my agent (state farm) for a quote on a few different bikes all roughly around the same year and value and got some surprising numbers, with full coverage:

    2010 Suzuki DR650 $84 per month (klr basically the same)
    2007 Vstrom 650 $82 per month
    2006 Kawasaki Ninja 500r $62 per month
    2010 Suzuki DRZ400S $51 per month

    The bike I wanted was the DR650 as I will be doing roads then trails but given these prices now i'm not so sure... A $400 savings in insurance per year makes the DRZ look pretty nice. I could use that money to do some gearing and seating changes But I don't think it's road worthy enough for what I want... which then makes me look to a Ninja 500r... not the adventure dual sport I want but it's a first bike to learn on and I can still do some camping trips with it.... Oddly enough it's got the fastest 1/4 mile of any of the bikes listed... and being a really beginner friendly bike you'd think it would have a lot of claims.

    Who do you guys deal with? any tips or advice? I'm 31, never been in an accident, never had an insurance claim and never had a speeding ticket or any other ticket.
  2. patw

    patw ODSC-OFTR Member

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    State Farm was nuts for my KLR 650 (~$1000/yr), I got $460 with Jevco through John Duffy. Similar age, driving record.
  3. suprf1y

    suprf1y Limited User

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    Nobody has been able to beat SF for me, and I've checked pretty much everybody. My bike is a 250, so maybe that's why.
  4. Neil Edmunds

    Neil Edmunds ODSC Executive

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    Bikes are rated by engine size and risk group. A smaller engine will always save you money.
  5. suprf1y

    suprf1y Limited User

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    SF does it that way, but many of them don't.
  6. tennyson.mike

    tennyson.mike Limited User

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    Yeah it's pretty dumb how they do it... the DR650 is classed in the same engine cc as a GSXR 750, the insurance on that is 4 bucks a month more... A GSXR 600 is cheaper to insure then the DR650! They need to go by HP not engine size.

    I will look into the mentioned company for quote, thanks !
  7. klrguy

    klrguy Limited User

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    TD Insurance is $73 a month for my KLR and you don't pay in the winter. (I'm 35 with a clean driving record)

    Scott
  8. Joe

    Joe Limited User

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    06 Yamaha fz1000 thru Weisner and jevco for 605 for the year. I have been very happy using Weisner and happy that they support off-road racing.
  9. shawn DRZ400s

    shawn DRZ400s ODSC-OFTR Member

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    Your location will have a large impact, ie;Scarborough vs Oshawa.
    Did you do the training course for M2? (adds a couple years of experience)
    Did you tell the broker you can barely see! :shock:
    The DR650 hasn't changed in the past decade, why not try a quote a few years older? You're over 30 so there should be a huge impact on pricing once in that bracket.
    Consider liability only! That might cut the cost in half! A replacement value for the DR650 of 3500$..if you save 500$ a year you can quickly insure yourself, do the math and remember if stolen now you also pay 500$ deductible and then a surprise once the rates go up since you made a claim!! Then they'll tell you that you only get 2000$ since they believe that is NOW the value! If you buy a used bike it's a no-brainer that it's NOT worth it. 'House always wins' just like the casino. Purchase some theft security devices and use it!
    I'm with TD...call around.
    Just my opinion, good luck!
  10. CoyoteJeepGuy

    CoyoteJeepGuy Ride Organizer

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    Town:
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    Riders PLUS takes great care of me. 1998 GS 500 is 385 a year my TE450 is 625 for full coverage. M2 license too
  11. JTQ

    JTQ ODSC-OFTR Member

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    If you go with State Farm and ask them to classify the bike as "recreational use", meaning primarily for trails and occasional road use the insurance will be very inexpensive. Both my bikes (DRZ400E and XCW250) are $150 each per year. They have to do the quotes manually which takes a bit longer but generally they told me anything over 5 years old and that can be considered a dirt bike would be in that range for me. I just got a quote for a KTM 640 Adventure and it was only $4 more. I'm 33 and have had my own bike insurance for 3 or 4 years. (rates haven't changed much for me since I started)

    If it's a full street bike that obviously won't work but any dual sport would be fine. It's important that they do the quote manually and not by plugging in the VIN. If your agent gives you any grief feel free to try mine, Neil Padilla in Mississauga. Service is a bit slow sometimes but the rates are great and they've been helpful.

    Happy hunting! :D
  12. tennyson.mike

    tennyson.mike Limited User

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    thanks! I will ask my agent about that!
  13. 3BeeJay3

    3BeeJay3 ODSC Past President

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    You have to be careful with this. 'Recreational use' means occasional or incidental use on the side of the road(ie. to connect trails - on the road, but not in traffic....) This doesn't apply to many of the DS bikes out there & how they're used. ie. many guys would find out after the fact that their ins doesn't cover them if they are using the bike to go to work, or even on a day tour like what Bob M does. The regular rates in the $4-700 range apply here due to the 'accident benefits' risk.
    Recreational, or incidental road use is essentially an off road policy that covers occasional short jaunts down the side of the road between trails, or into a small town for gas, such as what you would do in Simcoe county.
    I'm currently in hard discussions with my own SF broker about this issue & they're having trouble getting it. They basically think that because a bike has a blue plate on it, it has to be covered with a full road policy. The key is for them and their underwriters to understand the differences between bikes and how they're used. For ex., a larger, heavier factory DS bike such as a KLR or a DRZ 'S', even a KLX250s etc. wouldn't qualify for 'incidental road use'. The Blue plated competition oriented bikes would.
    Where I have them cornered is the ATV issue. Generally ATV' owners pay about $150-200/yr for green plate insurance(ie. recreational use), yet are covered for use on the road(incidental road use). I've explained to the broker that many blue plated bikes have to be covered the same way, as they are used in the same circumstances. (It's the MTO that forces us to have to put a blue plate on the bike - but that's a whole other discussion.........)

    Brian
  14. JTQ

    JTQ ODSC-OFTR Member

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    That's good info Brian. You're the first person I've heard so much detail from. Glad to get some clarification. My agent was pretty vague with the coverage detail. I kept asking them "you know I ride this on the road a bit too right?" Maybe I should get something from them in writing. For now I guess I'm living on the edge. In theory I'm always on the way to the next trail... :D
  15. jon_l

    jon_l Limited User

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    Town:
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    I have most of my insurance with State farm, and our agent is very helpful and a good guy, but I got fed up and insured the 2 bigger bikes with TD to save approx $1,000/year.

    I have owned 3 of those 4 bikes:

    2006 DR650
    2006 DL650
    2004 Ninja 500

    All are fine for what they are, but the DR650 is one of the best all-rounder bikes made. Decent on the street, great on gravel / dirt roads, and capable of modest off-road with suitable tires and protection, but too heavy to be ideal for tougher off-road use.

    The V-Strom is not an off-road machine no matter what some folks manage to do with them. A fine touring bike though. Would certainly ride one to Alaska.

    The Ninja 500 is a decent bike, perfect for a new or returning rider, or as a cheap commuter / tourer for anyone.

    Life's too short, if you prefer the DR650, get it, and find cheaper insurance.
  16. steveb

    steveb Limited User

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    the reality is, that insurance companies are a business and at claim time will work to limit the payout. You can have the best agent around, but he is not who you deal with after the accident.

    my advice: make sure that you have full accident benefits while on the road and make sure your bike is perfectly street legal including tires so that they don't have any reason to limit your claim.