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Discussion Starter #1
I called my insurance company today (USAA, who insures military members) to see if I could insure my bike for a higher value; they said no, but suggested using Progressive which they considered a good value. I got a progressive quote for the motorcycle only: They said it would cost

$$9000 a year THAT's $750 A MONTH ! :eek: :eek: :eek:

Holy crap I can't believe that's legal. That amount would be almost five times my monthly bike payment.

Fortunately USAA isn't crazy, I get a good deal through them. I was wondering if anyone else has had an insurer quote them a ridiculous figure like that. I'm 24 too so it doesn't even make sense.

Are insurance companies just anti-sportbike??
 

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No, Insurance companies are businesses, and sportbikes don't make them money.

They make money by collecting premiums, and paying out less then they collect. Sportbikes are fragile, and the claim costs are high. They are crashed frequently, and a lot of them are crashed early in the policy where they haven't collected a lot of premiums yet.

The point is, we are a BAD investment for them. Don't be surprised that they charge us rediculous prices.
 

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Luckily in MA, the insurance rates are state regulated, so they can't kill you like that. Each company is SUPPOSED to be the same. They'll be a little different, maybe $200-300 for the year, but we don't have companies trying to hit us over the head like that.
 

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Discussion Starter #4
I don't think it's just progressive who would rip me off, but Geico is similar. There's no way I could insure my bike if I was not with this military company right now. What is everybody else paying?
 

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I pay $1290 for full coverage. I know someone who got quoted $12k/yr I think by Progressive. He just laughed and hung up.
 

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Discussion Starter #7
First thing you're gonna have to do is live to be over 40...............
:huh:

You've confused me. Are you saying that by riding motorcycles I've significantly shortened my lifespan?:D
 

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I paid 300 for liability. I suspect full coverage would be a whole lot more, but since neither of my bikes are worth more than $1500 it would be a waste of money.
 

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ESanders2 said:
:huh:

You've confused me. Are you saying that by riding motorcycles I've significantly shortened my lifespan?:D
Hope not, but I'd say the insurance company sure thinks so, and they're afraid you'll take their money with you....
 

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Many companies charge much higher rates for the first 6/mo of policy.
 

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I pay $780 a year full coverage with a $1000 deductible on my 05' gsxr 750 through Geico. I have my jeep insured with them which deducts 10%. I am 27.

Unless you have had a DUI or yoru license suspended because of too many violations I cant imagine a $9000 a year policy
 

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Rundog said:
I paid 450/yr with State Farm...First thing you're gonna have to do is live to be over 40...............
Age doesn't make much difference in my experience. I've never paid over $500 a year for full coverage on any bike I've had with State Farm. They just have good rates, provided you have a good driving record. I started policies with them at 22. They did go down at 25 though, so if you're looking for a magic number with respect to age that is it. Being married and having multiple policies with them helps too, but like I said even as a single 22 year old I was paying very little.
 

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Discussion Starter #13
Yeah, I'm married so that should help, I have one ticket and one accident on my policy from three years ago, so I can't really explain the 9000 either. That's also 8700 more per year than I'm paying with my current insurance company - the bike portion of my policy is about 300 annually. All together (2 cars and 1 bike) it's $1000 per year.
 

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I've got an 05' yzf600r and Farmers( NOT state Farm) quoted me around $4300 a year for full coverage. I have a PERFECT record and i'm 20 years old. I've also been with this company since I was sixteen when I got my first car. Only filed one claim (stolen scooter ~$1700 reimbursment). So right now I just have liability for $460 a year. Rape hurts...don't be a victim
 

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Here in this Province of B.C. Cdn the Liability insurance is a MUST must be handled through the Insurance Corp of B.C., which is like a State insurance.

Of interest with a 43% reduction in my insurance as I am looked upon as a safe driver it is still a bit costly. Now in all cases I have included Fire & Theift which is an additional $27.00 on each vehcle.

The 4X4 truck is $544. The '97 Yamaha YZF600r is $934 the '00 Honda 929 is $1134 & the '03 Honda 954 is $1265 though that is only for Liability & the Fire & Theift.

I consider myself lucky to many other Provinces of Cdn for some of them are ghastly & only a few will insure m/cs.
 

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i was paying 75 a year for liabilty on my old bike and i just bought a new one a 2002 cbr 954 rr and got a quote for 1200 full coverage a year i will be regestrating when it starts to warm up so i have time to shop but i thought 1200 was crazy for being over 40 and having a perfect driving record.
scott
 

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I'm wondering what I'd do with a new bike and those kinds of quotes. Since the bike's effectively a toy/hobby, is it worth fully insuring? Liability is a legal must, so there's no real consideration needed there.

Collision? Well, I can fix a lot myself, so outside actual frame damage, I don't see the point. What does still seem to be a concern to me are uninsured drivers and theft.
 
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