insurance rates in Ontario, Canada

seestheday

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Hey guys,
I was wondering what others on the forum are paying for insurance in Ontario?

If you feel comfortable, please post your age, license and driving history.

This should give the guys in the US a good laugh, but I am curious what it's going to cost me. My 81 CB750K costs me just under $1K/year. I'm 36, have my M2 (will get my full M this year) and had a car accident 7 years ago (so I effectively have a perfect record now). Never had a speeding ticket.
 
I'm not in Ontario, but I pay about 125 euros a year for my xs400.

24 years old, car license since 6 years, bike license since 1 year, no recorded accidents. One speeding ticket on my xs, some more on other people's cars so never on my name.

1k a year seems a lot though? Do you get any money when your bike is stolen or gets damaged in a storm or something?
 
Liability only. So no, I don't get anything if it's stolen or damaged.

Like I said, the guys from the US should have a good laugh at the insurance rates in Ontario. Looks like you guys in Europe will too. We just get hosed.

There really isn't much competition, but strangely the insurance companies can't make money on motorcycles. I know some people in the industry, and even with rates this high companies often lose money on motorcycle insurance.

Ditto for young drivers with their own cars. If you're 17 and want insurance on a newish car where you're the sole driver, you're looking at $10-$12K/year. The insurance companies essentially don't want the business.
 
Geez...

Im 28 in Ontario, perfect driving record, live in a small town, have my M2 and have my MSF course, and the best i could find was $1,400 a year for my 1979. which roughly the same as my 2012 Mustang sooo yeah, not the best bike to insure lol

I was getting quotes from All-State and other places for $3,300 and up...based on some combination of charts they had to use. Most of the big companies said they wouldn't insure my bike because it was older then 25 years
 
I'm 27, just got my motorcycle license (M1 last fall and did a motorcycle safety course, so now I'm up to my M2), and perfect driving record. Eventually went with State Farm for $1065 a year.

Very few insurance companies want to insure a new rider (i.e. most required a full M license), and a couple of insurance companies didn't want to insure a bike over 25 years. CAA wanted $3000/yr, and I think Co-Operators wanted over $2k.

Initially I thought I was going to be able to get Collectors plates because it was a "vintage" vehicle in original condition. Apparently that's not really a thing over here in Ontario - you can only ride/drive those vehicles in parades and to/from vintage events. Back in BC where I'm from, I think the only stipulation is that you use it for leisure and not for commuting to work.
 
Are you guys that posting that aren't from Ontario just doing it so you can gloat? :p haha

Co-operators won't insure my 1981 cb750. Too old.
My only options are desjardins and intact with that bike.

Levdir, what year is your bike? I was really hoping for less than $600 for a 400cc bike, but that looks like it's the floor right now. Do you have your full M? How long have you been riding?
 
Mine's an 81. I'm a new rider, haven't actually got my license yet. It's called a class 6 in Alberta, it's kind of a sidecar to a learner's class 7 or a private operator's class 5. I'm taking an insurance-approved training course, though, which provides a reduced premium.
 
Oh you're in Alberta. Shoot I didn't check your location. Non-Ontario means it's irrelevant to me :-(.

So the best so far is JaredK with $1065/year.

Jared, which bike do you have?
 
Oh you're in Alberta. Shoot I didn't check your location. Non-Ontario means it's irrelevant to me :-(.

So the best so far is JaredK with $1065/year.

Jared, which bike do you have?

Mine's an 83 Maxim.

side note: is my avatar showing up? Or do I need to reach a certain number of posts first?
 
Took me a while to figure that out; if you've set a profile picture it won't show up as your avatar because that's a separate setting. Under Control Panel go to "Edit Avatar". I can see JaredK's avatar though.
 
The best i got was Desjardins, They said they would insure down to a '73, where most companies cut of at '84 i think ?

I looked at Vintage plates, but you need to keep kms below like 2K a year, and can only ride to and from parades and shows, which is a bummer.

This is good news cause now i will call up State Farm for a price lol

I did ask Desjardin to run a second year riders quote for me (i got my M2 in Nov 2013) so i asked them to pretend i had already been riding for a year, and they quoted me down around 650$. I asked why would the insurance cut in half, and they said that if someone has no accidents in their first year then the risk goes way down.

I see it as a requirement, you just have to pay the huge first year cost, and afterwards its smooth sailing, and should (after 3-4 years) drop to around 350$/year..

You just have to stick it out!
 
Took me a while to figure that out; if you've set a profile picture it won't show up as your avatar because that's a separate setting. Under Control Panel go to "Edit Avatar". I can see JaredK's avatar though.

Yeah, just found it and changed the settings.

I'll make a note to check back in with State Farm after a year of riding (and possibly shop around for other rates). Lower rates = more $$$ for riding gear :bike:
 
I'm in Manitoba, have had my motorcycle licence for decades, clear record.

We have gov't insurance only. 500cc and under street bikes have the cheapest rates. Apparently, each vehicle is charged according to accident records and repair costs. Owner's record contributes, too.

Mine will cost around $850. Sport bikes are easily over $2000 and up. A Vintage plate for pre-approved car shows, parades, etc. costs a one time fee of $19.
 
Ya I think age and years licenced makes a difference. I`m 49, full M licence for approx. 25 years although have only ridden for 3 of the 25 years. TD insurance $325 per year. They do also have my house and 2 other vehicles.
 
Wow I would go broke if I lived up in Canada! I'm 25, last ticket was 9 years ago, two years riding and I only pay 125/year and 480/6 months for two brand new trucks with full coverage.
 
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