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post #1 of 15 (permalink) Old 04-22-2008, 10:05 AM Thread Starter
 
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Insurance

Hey everyone I just have a question about insurance. I'm 18 and want to get a new bike like a ninja 650r or something around that.

I am in the process of taking the riders course and I'm trying to get insurance quotes for the bike with full collision and everything because I'm gonna finance it. The thing is I got about four quotes and they're all over the place.
  • Gieco was 350/month
  • Progressive was 130/month
  • One websites was like 10k a year.
  • And BikelinE's rate is $21,874 a year.

This was with collision @ 1000 deductible.

I have a clean license and everything i'm just scared that i'll take the course drop all this money into a bike and get stuck with a rate sky high. Is progressive usually a cheaper one or what? If someone can just help me clear this up i'd appreciate it. Thanks
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post #2 of 15 (permalink) Old 04-22-2008, 10:35 AM
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I've had progressive for my bikes since I started riding in '03. At the time I was 20. Not sure what I was paying then, but if you fast forward a little to '05 when I had a '92 CBR600F2 and '05 GSX-R600, I was paying ~$135/mo. Couple tickets on my record. The next year, it went down to ~$50/month. It dropped to about $30/month a few months before I turned 25 this year. Then I got the Ducati and it's back up to $55/month. I hope you kept up with all that.

I carry full coverage with $1000 additional aftermarket parts coverage on the Gixxer, and $1000 deductibles on both bikes. Currently I have 1 speeding ticket and 1 traffic device infraction on my record.

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post #3 of 15 (permalink) Old 04-22-2008, 10:37 AM Thread Starter
 
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Is that full coverage or basic? Alot of fluctuations, jeez.
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post #4 of 15 (permalink) Old 04-22-2008, 10:39 AM
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Quote:
Originally Posted by Xtreme87 View Post
Is that full coverage or basic? Alot of fluctuations, jeez.
That was full coverage w/$1000 deductible (when I had the CBR I only carried liability on it). I'm guessing they jacked it up for the first couple years because of my record. When I kept clean for a while they dropped it quite a bit. And of course 25 is the magic age when insurance becomes affordable.

"The only difference between death and taxes is that death doesn't get worse every time Congress meets."
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post #5 of 15 (permalink) Old 04-22-2008, 10:50 AM Thread Starter
 
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Oh, ok thanks a lot. Just got a few more quotes and progressive is definitely the cheapest a ninja 250 with collision is like 115 and even a zx6r(in a few years) is only 220 for me..
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post #6 of 15 (permalink) Old 04-22-2008, 11:09 AM
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Ok, those quotes from Progressive sound more mainstream and representative of what you should expect. Those other quotes are just plain wacky.

Ninja 650R- Good choice of bike by the way.

"Fat, drunk, and stupid is no way to go through life son." - Vernon Wormer.- Dean, Faber College.
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post #7 of 15 (permalink) Old 04-22-2008, 11:15 AM Thread Starter
 
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Thanks. I'm thinking used but it seems that they just came out in 06 or so, and I figure for a little more money I can get a brand new bike. And i'm 6'1 180, good fit for the 650?
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post #8 of 15 (permalink) Old 04-22-2008, 11:27 AM
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Vash swears by State Farm so you ought to give them a ring. I believe the basis for their rates is engine size (cc) rather than type of motorcycle (sportbike), which can make a very large difference, especially if you start out with a properly sized vehicle.

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post #9 of 15 (permalink) Old 04-22-2008, 11:39 AM
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Yes, 2006 was the first year for the Ninja 650R, so there isn't that much of a spread between used vs. old. I think the MSRP on a new one is somewhere around $6300-$6400. And the bike should fit you very well.

"Fat, drunk, and stupid is no way to go through life son." - Vernon Wormer.- Dean, Faber College.
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post #10 of 15 (permalink) Old 04-22-2008, 01:03 PM Thread Starter
 
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Thanks for all the answers I just have one more question. I wait and I don't have a pay stub, I make good money but I don't think I can put that down without proof. I have a CC and I'm not late ever. Is it gonna be a pain to get financing without a cosigner? I'll put 10 or 20 percent down.
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