All those who carry bike insurance - Step in.

[jliddle]

So Ive been thinking of buying a bike, and before I get some "you dont need such and such bike for your first, etc.. ". Save your keystrokes, I just want insurance related comments.

Background - 20 yrs old, high accident rate in my county, used 2007 gsxr 600 as the quoted bike. Called Allstate ( who my auto policies are with ) and got a quote. I will be financing probably 85% of the bike. Allstate's quote was $350+ a month for full coverage. I know this is mostly due to my age and bike type.

Geico was the same.

My question is, what brand/coverage options do the riders on this board carry?

Being the bike will be financed does that require me to carry Collision & Comprehensive like a car/truck?

Thanks in advance.

 

[Sinister04L]

Go with State Farm. They don't determine their rates by what type of bike it is, only by what cc the engine is. For my Busa's for full coverage I was only paying $70-$75/mo.

Edit- Yes you will be required to carry full coverage by the bank that financed the bike.

 

[allister]

When I got mine at 21, (had points on my license) it would have been $150ish a month from Progressive which was the cheapest. Since I didn't feel like wasting that much every month, I bought the bike I wanted salvaged, (used a credit card), fixed it up got the R title and paid $20 a month for liability.

Now me and my fiance both have bikes (both r 25 now) it costs $64 a month for 2 bikes with comp. Full would've been about $160 a month for both of us, but we would rather save the money and fix it ourselves if we break or total them.

From what I've seen, Progressive is the cheapest. And its so easy to get online and drop or add coverage, instantly. If you drive your bike 1 day a week, you could carry comp on it for 6 days and full only on the days you drive it. You can't beat that.

 

[oldmodman]

I have Dairyland Insurance
Bike Honda Africa Twin 750cc
Policy per Year $101.80

 

[jliddle]

Just called State Farm, theyre gonna get back in touch Monday because its almost 5. They said that being my auto policy is with Allstate, my rates will be a little higher. So we'll see.

Thanks for the replies.

 

[16kOrBust]

PROGRESSIVE. I also have a 2007 GSXR600 and saw the insane quotes with Geico (who I had my car with at the time) and a few others. Geico actually wanted over $2,000 a year for me (25 years old, just got my motorcycle license, first bike) and some of the others were pretty close to that. Then everyone on the bike sites kept saying Progressive, so I tried it. Full coverage (but minimal) was just over $500 a year for my first year. I signed up, plus switched my car over with comparable coverage to what I had with Geico and the car was significantly cheaper, as well, plus I got a discount on both since I had multiple vehicles.

When my renewal came around on my second year, they dropped almost $80 off the bike to $430 annually. For shits and giggles, I checked Geico again now that I had had my license for a year and everything: still almost $2,000 a year. The car insurance went up like $3 every six months, so it basically stayed flat. I was actually able to double a bunch of my coverages with the car insurance for $15 every six months.

CHECK OUT PROGRESSIVE AND LET US KNOW HOW IT GOES! You can get an instant quote online, too.

 

[RussZTT]

State Farm with 1 million dollar coverage...$32 a month. However unless it's changed, you can't just have a motorcycle with them, they also have to cover atleast 1 vehicle.

 

[jliddle]

PROGRESSIVE. I also have a 2007 GSXR600 and saw the insane quotes with Geico (who I had my car with at the time) and a few others. Geico actually wanted over $2,000 a year for me (25 years old, just got my motorcycle license, first bike) and some of the others were pretty close to that. Then everyone on the bike sites kept saying Progressive, so I tried it. Full coverage (but minimal) was just over $500 a year for my first year. I signed up, plus switched my car over with comparable coverage to what I had with Geico and the car was significantly cheaper, as well, plus I got a discount on both since I had multiple vehicles.

When my renewal came around on my second year, they dropped almost $80 off the bike to $430 annually. For shits and giggles, I checked Geico again now that I had had my license for a year and everything: still almost $2,000 a year. The car insurance went up like $3 every six months, so it basically stayed flat. I was actually able to double a bunch of my coverages with the car insurance for $15 every six months.

CHECK OUT PROGRESSIVE AND LET US KNOW HOW IT GOES! You can get an instant quote online, too.

That's awesome I'll give them a try too. You have the exact bike I want. Black/blue 600

 

[JMD0346]

I use State Farm. I have a custom prostreet chopper with a 100" Ultima. It runs about $58 a month.

 

[jliddle]

Just checked with Progressive and they want $85/month at a $1000 deductible. $114/month at a $500 deductible.

Thats the cheapest so far.

 

[crew_dawg16]

Just called State Farm, theyre gonna get back in touch Monday because its almost 5. They said that being my auto policy is with Allstate, my rates will be a little higher. So we'll see.

Thanks for the replies.

So move your car to State Farm as well. This isn't rocket science man, when I had my bike insured through them it was $35 a month full coverage with a $500 deductible. My coverages were also WELL above state minimums at 100/300/100.

And you will need the insurance.

As for coverages required, that is up to the finance company. If they put it on a card you will not need full coverage, but you are gonna get RAPED on interest.

 

[steve99]

While your looking for insurance for the bike, might as well call around and include your car in it so you can get the best possible rate. Every company seems to vary drastically but Liberty Mutual was the cheapest for me. I added a bike to my policy just this year with full coverage/$50 deductible and I pay $31 a month and have a inexperienced rider premium applied since I haven't had a M license before. Its a 650cc and as others they get the premium from the size of the engine. They also offer a discount if you take a free motorcycle safety course if your state offers them. I'm 28 and married so you'll definitely have a much higher rate in your situation but they were the cheapest when I was 22 with a Cobra as well.

 

[stanglife0419]

Another thing to consider: a lot of carriers offer discounts for taking an MSF course.

 

[crew_dawg16]

While your looking for insurance for the bike, might as well call around and include your car in it so you can get the best possible rate. Every company seems to vary drastically but Liberty Mutual was the cheapest for me. I added a bike to my policy just this year with full coverage/$50 deductible and I pay $31 a month and have a inexperienced rider premium applied since I haven't had a M license before. Its a 650cc and as others they get the premium from the size of the engine. They also offer a discount if you take a free motorcycle safety course if your state offers them. I'm 28 and married so you'll definitely have a much higher rate in your situation but they were the cheapest when I was 22 with a Cobra as well.

Regardless of engine size, sport bikes have higher rates due to the excessive amount of claims they see from brand new riders getting them for a first bike.

A 1200cc sportster will have much lower premiums than a 600cc sport bike.

 

[svtfocus2cobra]

State Farm with pretty much full coverage and it's $43/month. With State Farm it also pays to be a long time customer.

 

[Fast Freddy]

just renewed my insurance on my 3 sreet bikes today (all year 2000 and newer).

$118 for one year > liability only....

progressive

 

[SLVRBLT]

Not to hijack but I was thinking of this as well. I'm looking at an '05-'06 CBR 600. I will get a loan from my credit union to get it. I'm 27 with no tickets in almost 6 years. It will also be my first bike.

 

[SVT F15O]

Regardless of engine size, sport bikes have higher rates due to the excessive amount of claims they see from brand new riders getting them for a first bike.

A 1200cc sportster will have much lower premiums than a 600cc sport bike.

That would not be true if they quote it based solely on engine size. :shrug:

 

[jliddle]

So move your car to State Farm as well. This isn't rocket science man, when I had my bike insured through them it was $35 a month full coverage with a $500 deductible. My coverages were also WELL above state minimums at 100/300/100.

And you will need the insurance.

As for coverages required, that is up to the finance company. If they put it on a card you will not need full coverage, but you are gonna get RAPED on interest.

Ill check into combing the two, Allstate may want some sort of cancellation fee.

Thanks for the replies.

 

[Lefty10]

21 years old, 2006 Yamaha R6 - $118/yr. via Progressive.