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.