Ghastly insurance rates

Jeffrey Drake /

I have been approved for financing for a 2002 Tomos Targa LX, which is around $3100cdn with all of the accessories. My problem now is insurance.

The Open Road Insurance Program quoted around $2000cdn for the year. Statefarm did much the same.

Because it is financing I am told I need full insurance.

I can't believe the astronomical cost of these insurance quotes.

I need some recommendations from the people....

I am in London, Ontario, Canada; 20 year old male with G2 license for 2 years and G1 for 2. (G is full regular license, with G1 being very limiting, G2 being basically like a G but with 0% alcohol).

What do you guys pay for insurance?

Any help would be wonderful,



Re: Ghastly insurance rates

check some of the scooter forums.. I remember some Canadian riders having the same insurance problems but some did find very reasonable rates, there were wide price differences between companies..... maybe they punish the young riders hard though...

Re: Ghastly insurance rates

try Progressive (if you have them in Canada). They were 4 times cheaper than Allstate.

Re: Ghastly insurance rates

Hi Jeffrey:

I live in Ottawa and I insured my mopeds through Wawanesa and it cost about $100/moped/year. I'm not sure if they'll insure your moped if you don't already have a car/home policy with them first.


Re: Ghastly insurance rates

Jamie Leonard /

Odd - my insurance company never asked if my machine was financed? 3 years ago I started at about 280 a year for insurance, am down to 180 right now (and I still only have a g1) - they do online quotes and do ontario motorcycle insurance, here's the link (doesn't hurt to get a quote after all)

Re: Ghastly insurance rates


If your moped is financed you will need collision coverage (which will add significantly to your premium). Usually it is the finance company that insists on this (I guess this is because they can't threaten to repossess a totalled vehicle) not the insurance company.

The hardest part about shopping for moped insurance is getting it through the thick skull of the insurance agent that a <i>moped</i> is not a <i>motorcycle</i>.

Jamie is right, though --it doesn't hurt to get a quote. Shop around. It's amazing how much quotes will vary from one company to the next.


Re: Ghastly insurance rates

Whomever quoted you those rediculous rate must be on dope!!!

Unless you are a professional drunk driver who is blind, there is no way they should be quoting you anywhere near that amount. It should be closer to 10% of those quotes. I'll bet they didn't know what you meant when you said "moped" and they've quoted you for a motorcycle.

I'm with the co-operators and it only costs me $96 per year with a buttload of coverage. I would suggest you try as many places as possible.

And as for it being required because it's financed. HORSESHIT!!!!!

It doesn't happen when you finance a car or motorcycle. Tell them to give their head a shake and ask to speak to someone who can speak english!

Hope it helps.


Re: Ghastly insurance rates

$2000 per year for insurance on a freakin moped ??

Totally ridiculous... there would be government and insurance types hanging by their necks from traffic lights if that happens here.

Michigan ?.... zero $$ required by law... the finance co will require something though... can't tell you how much.

I don't pay a penny.

Some things about Canada may be better... this isn't one of them.

Re: Ghastly insurance rates

Insurance for me was $130. but if I want to include my 19 year old son,who only has a learners permit, and no previous insurance record ,it jumps to $1100. can. bruce

Re: Ghastly insurance rates

Kevin Harrell /

Ohio does not require insurance either. However, they limit what is legaly defined as a moped. It must not be able to do over 25mph on a flat level surface with just the engine. There is also a state list of mopeds that fit that definition. I figure that Ohio feels that if you can only go that fast you can not do that much damage.

Want to post in this forum? We'd love to have you join the discussion, but first:

Login or Create Account