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post #1 of 21 (permalink) Old 10-11-2007, 02:12 PM Thread Starter
 
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Stupid Insurance

Been on my 650r awhile now and I was looking within the next year or so to moving to an inline 4. Until I was once again reminded of how stupid insurance rates are. Buying a bike outright is something I won't be able to do because I'll be moving offpost with my girlfriend soon. And financing a new bike means my insurance will be retarded. Why do squids have to ruin it for the rest of us?

/rant off
/sigh
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post #2 of 21 (permalink) Old 10-11-2007, 04:52 PM
 
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I do not think any of the regulars on this board are squids, so we suffer through the same & myself being with a sportbike of 600 to a 929 & a 954 it is pretty costly PLUS I have to license & insure my SUV as well.

I have chanced it by using the same m/c LP being on whatever bike I was riding, but that is 100% illegal so the cost is sort of three times to stay legit.
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post #3 of 21 (permalink) Old 10-11-2007, 08:39 PM
 
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You just can't win if your financing a bike; its instantly super expensive. I'm glad I own my bike and car, otherwise, yeah, I probably wouldn't have both. One thing I wish the insurance companies would do is change the way multiple bikes are insured. I would only be riding one at a time so why would I have to pay full for both especially if its just liability? Or *do* they cut it down? Overall I guess I can't complain since its only $435/yr for me.
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post #4 of 21 (permalink) Old 10-12-2007, 12:17 AM Thread Starter
 
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I'm about to own my car which is why I was looking into swapping out to a new bike. But I won't be able to buy one outright so financing would be the only option. Affording the financing isn't a problem. It's the insurance that goes with the bike. I was quoted over 200 bucks A MONTH for a 2006 ZX-6R. Give me a break.

It's like financial rape for sportbike lovers. It basically forces you to buy used or under insure.
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post #5 of 21 (permalink) Old 10-12-2007, 03:16 AM
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I own both my car and my bike, both have about the same value given the cars odometer says 188400, even though I replaced the motor with a used one that has 90000. I have basic liability on both. I pay $420 a year for the bike with progressive, and I pay $1400 a year for the car with liberty mutual. Progressive wanted $4200.

I just really want a bike with a turbo, because their are those times when you pull up too a stop light next to a cop, and I think a really loud PPTTTSHIIISHHHHHHHH would make his day. =P
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post #6 of 21 (permalink) Old 10-12-2007, 05:19 AM
 
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Pay round $500/yr for a liter bike, full coverage with state farm.



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post #7 of 21 (permalink) Old 10-12-2007, 06:16 AM
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Quote:
Originally posted by OSUrid3r
One thing I wish the insurance companies would do is change the way multiple bikes are insured. I would only be riding one at a time so why would I have to pay full for both especially if its just liability? Or *do* they cut it down? Overall I guess I can't complain since its only $435/yr for me.
That's a good question and seems pretty logical. I'd rather see them change the coverage you get depending on how geared you are, which doesn't prevent squids from fleecing insurance companies but would most certainly change the amount they paid out overall.

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post #8 of 21 (permalink) Old 10-12-2007, 06:22 AM
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Quote:
Originally posted by Vash
Pay round $500/yr for a liter bike, full coverage with state farm.
I pay $720 a year for my 03 600RR and my 01 ZRX1200. Both Full coverage with State Farm. For me the biggest factors are 1. age (34), 2. Perfect driving record. In Michigan, the magic age is 25, rates drop significantly after 25 here.

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post #9 of 21 (permalink) Old 10-12-2007, 09:11 AM
 
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Jgreen the insurace is even a bit less when you turn 65 yrs of age, but insuring three m/cs & a cage are costly here in Canada I can assure you.

Personally I do not know how people 24 yrs of age & under can afford bikes then simply abuse them beyond belief & I leave the "abuse" to your mind.

I had a darn good sale to the Minister of Finance in B.C., (you see the only insurance avalaible is the Insurance Corp of B.C. meaning it is socalized, of where one only received one valid LP though papers for two to twenty-two bikes (the largest bike was the major one to be insured) if they so wished & said papers would cost the rider around $25.00 each. The one plate went on the bike the person was riding & the insurance papers were carried on the bike to the other papers carried on the other bikes

That was some yrs ago & he felt it was planned out ONLY the RCMP did not have comperters that syncronized with ICBC which was an outright lie according to some RCMP that are also m/c riders.
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post #10 of 21 (permalink) Old 10-12-2007, 09:34 AM
 
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People under 25 do get screwed; i.e. me but it could be worse if I was an uber squid. While I personally usually wear a lot of quality gear aside from the jeans, how could the insurance companies possibly know what you wear or what your riding habits are?

A relatively geared up 'captain slow'-type rider like myself who spends money on race-quality jackets and boots rather than exhausts should only pay $100/yr for full coverage. Right now if I get my RR project bike I'll be looking at $870/yr for both bikes, liability only. Insane.
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