2005 honda

[slow mo]

the nephew bought a Honda 2005 600 r i think ,, he is now selling it as insurance quote here in canada and a fairly new driver COST WAIT FOR IT 1000$ per month!!

[XJOK2PLAY]

Holy cow!
A few months of those rates and he could buy the bike all over again!

I'm surprised to see it that high.
Usually, here in the states, rates are the lowest for 600 cc and smaller.

Could it be due to his age, driving record, or credit rating, possibly?
Insurance companies here are using ALL of that for excuses to raise the rate...
Even what county we live in makes a difference!

I live in a small town that's divided between 3 counties.
Rates are way different between any of the 3. It's crazy!

Maybe they've had a lot of claims on that particular sport bike?

Who knows what goes on in the minds of insurance companies??

[JeffH]

WOW, that is just nuts.

I imagine (behind the curtain) the pricing has a lot to do with OHIP Provincial Health System passing along the RISK of young sport bike rider against huge hospitalization costs caring for injured motorcycle riders. Gotta be some connection the way that works between OHIP reimbursement and young sport biker wreck hospitalization. Obviously risk pool is much greater than normal population pool so maybe additional premiums are embedded in the rate.

Would be interesting to see how young snowmobilers are handled. Imagine wreck frequency is about the same with similar compound injuries.

Jeff

[BA80]

the nephew bought a Honda 2005 600 r i think ,, he is now selling it as insurance quote here in canada and a fairly new driver COST WAIT FOR IT 1000$ per month!!

Moe, move just a few miles south and the insurance is MUCH less expensive than the bike.

[slow mo]

he has a new license beginner just found out and that in combo with a super sport hairy fast bike i guess justifies the insurance quote most company's he said would not even quote ,,Slow Mo

[Prothec]

My wife and I are both listed as riders on my policy, covering 3 bikes, my XJ, '83 CB550 and '04 Buell Blast. For a pretty standard $100k/$300k policy with uninsured/under-insured coverage, I'm paying $115 (~$210 CDN) per year for liability coverage. Ohio isn't a no-fault state, but I imagine it would cost quite a bit more somewhere like Michigan or Florida, which are no-fault states.

What's interesting is that I didn't notice until recently that my policy indicated my wife had her endorsement, but not me. Surprisingly, whether it was listed or not didn't affect my rate at all.

Maybe your nephew should trade up to an XS1100 if it's cheaper to insure

My in-laws were quoted a lot (can't remember the amount) for a policy in Florida wanting to sell them full coverage for an '09 Buell Blast, quoting the bike's value at $4k more than reality.

[Prothec]

Ohio is apparently the 2nd cheapest for car insurance, which is probably relative to motorcycle insurance.
http://www.insure.com/car-insurance/...nce-rates.html

[BA80]

Mine is about $90 a year here in OK for liability only.

[webbcraft2150]

Mine runs around $110 a year with a "accessory" (Fairing, bags) endorsement. Back when I was involved in selling bikes, had many a young buck pick out a shiny new GS1000/1100 only to be shot down by the insurance costs. Back when I had my '70 Roadrunner, I had it insured as a Belvedere, its pretty much the same car. Never had a claim so I don't know if it would have worked. I found out my boat insurance had a "magic" top speed number (yes, they asked). IF you indicated anything over 48mph, the rate would go up. Would jump from $300 a year to over $500. So my top end was 48mph according to the insurance company, unless I hammered it. Then 48mph was just a number between 0mph and 60 some.

[motoman]

Mine is about $90 a year here in OK for liability only.

Decent rate Greg. Mine through State Farm runs some $72 a yr.