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Noob insurance questions

This is a discussion on Noob insurance questions within the Motorcycle Insurance forums, part of the General category; Hey all, I have been checking this site for a while now and the info ppl have posted have really ...


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Old 01-25-2006   #1
Junior Member
 
Join Date: Dec 2008
Posts: 13
Default Noob insurance questions

Hey all,

I have been checking this site for a while now and the info ppl have posted have really been helpful and so have the ppl answering.

I have my M1 and going for my M2 very soon and have a G2 and can get my G at anytime.

I am getting a Blue 01 Kawasaki EX250R
10k

I am 24 turning 25 in a few weeks, I looked up some quotes and found that age makes a difference.

I have no accidents, no tickets.

I have no auto insurance

So to my Noob question:

1) If I get insureance now, will it go down automatically once I reach 25?

2) I am going to be using the motorcycle for the season, can I cancel my insureance after that? If so, are they any consequences?

Any advice would be greatly apreciated for this new rider and any tips would be helpful

-Thanks
jross060 is offline   Reply With Quote
Old 01-26-2006   #2
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Join Date: Dec 2008
Posts: 8
Default Noob insurance questions

some guys make you wait 2-3 after you've joined them to lower any prices...id wait till you turn 25. I dont think ANY insurance companies have 6 month insurance anymore, too much hassle....
El Jefe is offline   Reply With Quote
Old 01-27-2006   #3
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Join Date: Dec 2008
Posts: 15
Default Noob insurance questions

Hey all,

I have been checking this site for a while now and the info ppl have posted have really been helpful and so have the ppl answering.

I have my M1 and going for my M2 very soon and have a G2 and can get my G at anytime.

I am getting a Blue 01 Kawasaki EX250R
10k

I am 24 turning 25 in a few weeks, I looked up some quotes and found that age makes a difference.

I have no accidents, no tickets.

I have a couple of different companies that will be able to give you the next age rate provided you are within 30 days of your birthday. I'd be happy to help.

I have no auto insurance

So to my Noob question:

1) If I get insureance now, will it go down automatically once I reach 25?

2) I am going to be using the motorcycle for the season, can I cancel my insureance after that? If so, are they any consequences?

Any advice would be greatly apreciated for this new rider and any tips would be helpful

-Thanks

I have a couple of companies that will be able to provide the next age rate provided that you are within 30 days of your birthday. You may find that it is worthwhile to keep your policy in force for a full year if you are planning to ride in future years. A full year worth of claims free insurance will lower your rates next year.
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Old 01-27-2006   #4
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Join Date: Nov 2008
Posts: 13
Default Noob insurance questions

Don't forget to shop around for quotes to find the best deal. You'll find the list of motorcycle friendly brokers here. They are also the best address for your questions and concerns.

I'd just say that you shouldn't even bother with #2 - it's not worth the hassle even if anyone still offers that option.
Robert N is offline   Reply With Quote
Old 01-28-2006   #5
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Join Date: Dec 2008
Posts: 13
Default Noob insurance questions

Thanks a lot for your info and advice. Yeah I have been shopping around for insureance all afternoon.

Insurance guy: I wont be 25 until mid July :(, so if I get an insureance now, it wont decrease will it at that time?
jross060 is offline   Reply With Quote
Old 01-28-2006   #6
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Default Noob insurance questions

so if I get an insureance now, it wont decrease will it at that time?

It should go down when you turn 25, but if I were you, I'd just wait. The difference could mean saving a couple hundred bucks over only 2 months!

As for canceling at the end of season... you won't save much. 80% of the yearly insurance cost pays for the summer; the other 20% pays basically for theft coverage while it's in storage (ie. Nov-Mar). But, the payments are distributed throughout the year. So for example, if you buy insurance in April, and cancel it in October (if you have a 6-month term) you might get a bill for the extra cost of the summer months that you would have paid over the course of the coming winter.
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Old 01-29-2006   #7
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Default Noob insurance questions

I'm in the exact same boat ... well maybe worse.

I'm 24 turning 25. (late august)

Just bought myself a ninja 250.

I have made a number of phone calls ...

State farm has been the only company to tell me that my insurance will drop the DAY i turn 25.

Their liability only policy would go from $125 /month (From Apr till Aug) and drop to $41/ month (from Set to next april). that would save me about $700.

Everyone else wants to sell me insurance for the 24 year old rate for the entire year.

My problem is ... I have 3 minor tickets and state farm only accepts 2.

So if you have a clean record go with state farm.

GRANT REDFERN
Sales Associate, Mutual Fund Specialist
STATE FARM INSURANCE
4195 Dundas Street West, Suite 223
Etobicoke, ON M8X 1Y4
[P] (416) 234.8000

Tell him Tiago sent you.

Question to the Forum...

Does any other Company offer this, and not just "we can insure you at the 25 year old rate a full 30 days prior to your 25th birthday"
gimmeTopic Ideas is offline   Reply With Quote
Old 01-29-2006   #8
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Default Noob insurance questions

Does any other Company offer this, and not just "we can insure you at the 25 year old rate a full 30 days prior to your 25th birthday"

I think it's not the company but the laziness of the insurance broker. They have additional paperwork to process for which they are probably not geting paid extra. Just my impression, though. I have no data to back it up with except that my insurance got corrected in a similar manner at least twice (once when I passed the approved course, once when my insurance record fell into a new category).
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Old 01-30-2006   #9
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Default Noob insurance questions

I think it's not the company but the laziness of the insurance broker. They have additional paperwork to process for which they are probably not geting paid extra. Just my impression, though. I have no data to back it up with except that my insurance got corrected in a similar manner at least twice (once when I passed the approved course, once when my insurance record fell into a new category).

Thanks Vlad, good point.

I guess the question then goes out to the insurance folks on the board. At anytime during my policy, would I have the right to request a re-evaluation of my current rate? (like when I hit the 25 milestone, or if my driving record changes.. hopefully for the better)

Suppose I buy a new bike when I turn 25 and sell my current one would the insurance company then be forced to re-assess my policy under ALL of the new conditions (i.e . different bike, AND different age category, possibily different driving record) ?
morgan h is offline   Reply With Quote
Old 08-21-2012   #10
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Aside from proving that you returned your plates, insurance companies have different rules for policy cancellations. Your insurance provider may allow you to cancel over the phone, but you may have to sign cancellation documents. Follow your insurance company's procedures.
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