Insurance for 18yo??

[Guest DaxThe3rd]

Hi there everyone.

 

Does insurance for an older bike (probably abt 10-7 yrs) cost more? Or does a brand new bike cost more??

 

How do they excatly define the price? Other than the owner;s age n riding experience, do they base on brand? year? or even model?

 

Please share your experience wif mi thankx!! Best if you can intro the cheapest insurance company avaliable.

 

Thankz!

[Blahhh]

The machine itself contributes alot in factoring the cost of insurance.

 

I believe newer bikes will cost more, therefore a 5 years old wave will be cheaper then a 1 year old one. Model/brand? Definitely.

 

Last time I checked (ard 2 years ago) a Kawasaki krr 150cc is about 450+ for 3rd party, whereelse an Aprilia RS125 is 800+ for the same premium. This clearly shows model/brand plays a part in total costs, despite the fact both bikes are class 2b and cc difference of only 25cc.

[Xenophobia07]

There's a point system in the insurance.

 

Brands play a major part, like Kawasaki, Ducati, Aprilia. They are the high rollers. The cheaper ones are Honda, Yamaha, Suzuki (Suzuki maybe not as low as Honda and Yamaha.)

 

Your own age also plays a factor. The younger, the more expensive, the older, the cheaper it is. But of course if you're old, but with a 'P' Plate, you're not going to have the same premium as a same age person without the 'P' Plate.

 

The type of bike is also factored it. Meaning Sports, Naked, Scrambler, Chopper... Etc. If I recall, Sports cost the highest.

 

I'm not too familiar how the year of manufature is counted. But I know a new bike will cost more as compared to a 3 year old bike. But a bike into a 2nd COE might also cost alot because its old and parts become more scarse. On this pointer, I'm not sure. Might need someone else to clarify this.

[thatone1]

hmm yup i agree with the above .. and also your insurance will be lower when you're off p plate and above 21yrs old.

[aRcHeR]

hmm yup i agree with the above .. and also your insurance will be lower when you're off p plate and above 21yrs old.

 

nope, the age range from 18-25 is about the same for NEW riders.. only after the age of 25, the premium will be much lower..

 

why i know? cause i checked with them before..

 

oh, the accident rates for the bikes you are going to be buying also factors into how high/low the premium is gonna be. usually 2b sportsbike premium for new riders will be pretty high, simply due to the type of bike, and also the accident rate..

 

so if the bike you gonna buy, accident rate is low, the premium will be alittle lower.. just a little..

[thatone1]

nope, the age range from 18-25 is about the same for NEW riders.. only after the age of 25, the premium will be much lower..

 

why i know? cause i checked with them before..

 

oh, the accident rates for the bikes you are going to be buying also factors into how high/low the premium is gonna be. usually 2b sportsbike premium for new riders will be pretty high, simply due to the type of bike, and also the accident rate..

 

so if the bike you gonna buy, accident rate is low, the premium will be alittle lower.. just a little..

 

I was quoted $460 by ntuc before i was 21 and after 21 i went to AXA my insurance now is $262.50.

[aRcHeR]

after p-plate right?

[jia_yvon]

I was quoted $460 by ntuc before i was 21 and after 21 i went to AXA my insurance now is $262.50.

 

bro different insurance company different rate. not bcoz of ur age, is bcoz ur u try AXA instead of NTUC. u dun believe u go back to ntuc see how much they quoted you. is the same. as long as below 25 is below to the same cat. same goes to driving license, as long as above 10yrs be it 20 yrs 30yrs 50 yrs, all same cat also..

 

some insurance are quite cheaper liek AXA, Asia or China.