Please help me out with Insurance questions. - Sportbike Forum: Sportbike Motorcycle Forums
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post #1 of 33 (permalink) Old 07-24-2000, 11:17 AM Thread Starter
 
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The bike I want to insure is a 1999 CBR F4 that I do not yet own but have ridden and plan on buying from my a friend. I am 22 years old, single, and I live in New Orleans, LA. I have had 1 speeding ticket in the past 3 years and no other violations. I have taken the MSF course and I plan on joining AMA soon but this is going to be my first sportbike.

I got a quote from All-State today because I needed to start looking somwewhere. Basically, It is way more than I thought it would be. This is what my quote looks like.

1999 Honda 600cc sport

Bodily Injury: 10/20 limits,$100 premium
Property damage: 25 limit, $20.30 premium
Uninsured motorist: 10/20, $90.00
Collision: 500 Ded., $549.00
Comprehensive: 250 Ded., 277.20
Towing and Labor: $3.00

Policy Charges: $1108 including MSF discount

This is the price for 6 months! It comes out to $188.32 per month. It might be just me but I think this is crazy for a $5000 vehicle. I need to get this to about $100 per month.

Anyway, I need you guys to help me out here. This estimate was for full coverage and used the lowest possible parameters for comp and collision. I can not afford this period so I need to find it cheaper or just not get full coverage.

My questions for anyone who could help are
What other companies should I call? Should I just not get the full coverage? What should I drop, considering I am fairly new to sportbikes, from this policy to make it cheaper?

Guys, I need all the help I can get and some good explanations about what I can do without and why would not hurt either. Thanks so much.


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post #2 of 33 (permalink) Old 07-24-2000, 11:35 AM
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I hate to say it, but expect to get screwed in the insurance. You're a young, single male, 1 ticket, with a new(er) bike, therefore a high risk in the ins. company's eyes. My insurance agency I'd been with for 10 years wanted $3000/year on my VTR. Needless to say I got a better deal.
I'm with State Farm now for $500/year(single, 26, male). You can also try Progressive, they are usually good. You want full coverage; you'll be glad if you ever have an accident. I don't know what your laws are, but in MD, you have to have full coverage anyway, unless you own the bike outright and don't have a lien on it.

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post #3 of 33 (permalink) Old 07-24-2000, 12:04 PM
 
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im 27 1 speeding ticket 1 accident and when i was calling around i was getting quotes for my gixxer between 2 and 3 grand, but i will say this i called two different agents from allstate the one quote was 2400 the others quote was 700. i dont know how or why i got two different quotes from the same company but i did and i am insured and i didnt sacrifice coverage to get this... im sure you can use a agent outside of your state, hell its worth a shot. if you want his name and number email me, especially if it will save you a couple grand.
also what insurance companies wont tell you is you can totally drop almost everything during the winter and save even more, i was never in New orleans so i dont know if you have a winter but its just something to think about


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[This message has been edited by GodCreatedOne (edited July 24, 2000).]
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post #4 of 33 (permalink) Old 07-24-2000, 12:05 PM
 
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My recommendation is get a quote from just about anybody but Allstate. I think they just don't like to insure bikes. My recommendations are Progressive, Reliant, or Dairyland. I have had, or currently have insurance with all three, and am very happy with them all. I have also heard good things about State Farm.

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post #5 of 33 (permalink) Old 07-24-2000, 12:10 PM
 
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im not 100% sure about this but from what i did hear from a few people is allstate is the only company that doesnt jack up the prices on bikes when they here letters ie. gsxr, cbr, zx ect.

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post #6 of 33 (permalink) Old 07-24-2000, 12:16 PM Thread Starter
 
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Thanks for the help so far. Could you guys also include any contact you have info for other companies besides All-state and State Farm.

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post #7 of 33 (permalink) Old 07-24-2000, 12:32 PM
 
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I don't know why everyone is so high. I am 24, single with no accisents but 4 speeding tickets. Not an AMA member and did take the MSF course, but that didn't help. I am with State Farm, and have an F3. I pay $27 a month for full coverage, and no lay-up in the winter months. So, who knows...

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post #8 of 33 (permalink) Old 07-24-2000, 01:06 PM
 
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Progressive wanted $1400 a year for my bike full coverage, i about laughed myself silly... AND THEY CLAIM TO BE ON OUR SIDE???!!! More realistically, i have the same full coverage for $400 a year, i went through an agent, i would recommend doing the same.

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post #9 of 33 (permalink) Old 07-24-2000, 01:43 PM
 
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[QUOTE]Originally posted by inanima:

I'm with State Farm now for $500/year(single, 26, male).

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This is a bunch of crap. I can't believe how many different prices we are paying for insurance. $300.-$3000. what a rip. I am also with State Farm. I'm 31, married,no tickets(lately),no accidents,AND I have been with them for 10 years and have several dif. policies (life,home,car,etc.) and I pay $850. yr. However, State Farm was by far the cheapest when I called around. Progressive, who advertises in the cycle mags, was the highest of all at around 3grand

My 92 fzr 600 I only paid $350.yr. Same company.


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post #10 of 33 (permalink) Old 07-24-2000, 01:57 PM Thread Starter
 
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Guys you aren't going to believe this but I called All State back and spoke to another agent on the grounds of GodCreated One said and guess what? I got a different quote. I asked for the fax and it looks completely different. It has the same letterhead and all but the description was definitely done on a different program. That's screwed up.

Anyway new quote is $789 for 6 months/full coverage. What the hell is going on?

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