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Discussion Starter #1
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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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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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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Discussion Starter #4
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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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.
 

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Pay round $500/yr for a liter bike, full coverage with state farm.
 

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OSUrid3r said:
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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Vash said:
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.

Good Luck.
 

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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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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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Discussion Starter #11
I hear that about being 25. I'll be 23 here in about 8 days so I might have to wait a few years before I upgrade. Geico wanted over 3000 a year for my 650r. With Progressive, I got it for a little over 1000. Progressive was the one who quoted me over 200 a month for a ZX-6r too. Even though the ccs are lower, they class it as it is, a supersport.

I agree OSU. The insurance companies generalize too much to make it easier on themselves. I've never been in an accident, my fault or otherwise. Why in the world should I pay be paying squid prices for insurance?

Vash, how old are you? You've got to have some years to pay only 500 for FULL COVERAGE on a liter. Geesh, I wish I could pull that off. :laughing:
 

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26, so I hit the breaking point. But it wasnt too bad before hand, maybe $1k-1400 a year.

How long have you been riding? first 6 mo-year is ussually really bad on insurance. 90% of wrecked bikes are less than 6 months old.
 

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Just under 350/year with Progressive. Full Coverage w/$1k aftermarket part coverage. I still carry my old CBR600F2 with liability only, because the multi-bike discount is more than the insurance itself.

I'm wondering if they didn't just bump in the age discount for me since I'll turn 25 at the end of this 6-month billing cycle. I've yet to figure out this whole insurance thing.
 

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I hear what you guys are saying, I'm 23 with a perfect record and I was paying 900 bucks for full coverage with a 250 deductable... Now I'm paying a little over 200 bucks on liability.... I bought my bike outright so it was my idea to go with the full...

It paid off when I was in an accident, replaced the few parts needing it and left the rest the way it was.

Spending almost a $1000 just to "insure" your bike - which doesn't even include riding, bike payments, or any of the other things that come with having a bike seemed ridiculous - but in the end I'm glad I did that!
 

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Discussion Starter #16
Vash said:
26, so I hit the breaking point. But it wasnt too bad before hand, maybe $1k-1400 a year.

How long have you been riding? first 6 mo-year is ussually really bad on insurance. 90% of wrecked bikes are less than 6 months old.
I started riding the end of 2005(around Oct). I picked up my 650r in early '06.
 

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OSUrid3r said:
It might be worthwhile for some people with a ton of coverage to trash their bike on purpose.

Indirectly this is what happened to me.. Insurance totaled out the bike, i bought it back.. Had the whole bike paid for plus 2 years of insurance premiums. So basically I've owned the bike and ridden for 2 years for free. However, if I had to do it all over again I wouldn't - I'd rather have that new baby in mint condition with not a single rock chip :D
 

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OSUrid3r said:
People under 25 do get screwed;

how could the insurance companies possibly know what you wear or what your riding habits are?

Well, unfortunately it is all based on statistics. Statistically speaking, riders under 25 ride like idiots. Even more unfortunate is that good riders like yourself are the ones that pay the price. The squids go and pay a minimum down payment to get the bike legal, then let the insurance lapse cause they can't afford it. Then they f*ck up their bike by crashing into someone or doing wheelies or riding like f*cktards, and it just gives the insurance companies more ammunition to raise rates.

All I can suggest is to shop around, and try putting your deductable as highas you can afford. Oh, and you do get a discount through state farm for being an AMA member and for taking the MSF course.

Good Luck

Jon
 

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Discussion Starter #20
I should call State Farm and see what they would want me to pay. That's one company I haven't called yet.
 
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