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Old 05-27-2011, 06:21 PM   #1
kkhemi
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Insurance (Questions)

Ok I am a little loss here. I can get liability for $300 a year or full coverage for $4,800. Can someone explain the price difference to me? I know there would be some, but that much?

Am I getting the right quotes? I am 20 years old. Any specific company that carries to certain types of motorcycles the best? I have a Gsxr 600. Maybe the type of bike?

Oh yeah first bike and love it! What a rush it is. Rule #1 respect the bike and its power. I am glad I did not go with a 1000 for my first bike. Good forum to learn things on.


Any help I would appreciate it.
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Old 05-27-2011, 06:26 PM   #2
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Any "sport" bike is going to cost you a grip to fully insure at 20 years old. Shop around, I've had good luck with Geico.
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Old 05-27-2011, 06:53 PM   #3
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I was told the GSXR's are the most stolen and wrecked bike and doesnt help your 20 years of age.
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Old 05-27-2011, 07:15 PM   #4
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I'm 22 and I have insurance through Allstate and its only $65 a year for liability. I was quoted at about $300 for full. Of course I am riding a smallish cruiser made in 1995.
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Old 05-27-2011, 07:49 PM   #5
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Where did you get quotes from?

As for the difference in price... they don't mind paying for what you fk up (of other people's) if you fk up, but they don't want to pay for you or your stuff, because statistics show that that bike will probably be wrecked or stolen too quickly. (That said, I really, really hope it doesn't happen to you... Your post makes you sound like you have respect for it, and I think you'll be fine) For the insurance companies though, it's all about statistics... (For reference, I pay about 1800 per year for full coverage and I'm 31 and have had my class M for 4 yrs, but I do have tickets and a CBR1k)
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Old 05-27-2011, 08:03 PM   #6
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Being 20 and owning a SS = needing a lot of this \/\/ on hand when it comes to full coverage ins.
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Old 05-27-2011, 08:13 PM   #7
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The cheapest way : Get liability + Theft Coverage...
The other option : Full Coverage...if you can afford it.

THERE IS NO OTHER WAY.

If you wanna ride in houston - you HAVE TO HAVE TO HAVE TO HAVE to have theft coverage... dont be caught dead without it...
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Old 05-27-2011, 08:26 PM   #8
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Its that high because thay are almost certain to pay up on a 20yo. I paid 3800 on my first bike. They paid up in 3 months. It was stolen.
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Old 05-27-2011, 09:15 PM   #9
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Thanks for the comments guys. It was through progressive. I have not called other insurance companies but will.

Theft coverage huh? I am going to look into that. Even though I will not be leaving the bike anywhere except my garage and inside the work warehouse I still should be on the safe side.

Just got back from riding it for about 20miles. Still getting used to it. Had a lot more wind and notice that it plays a factor when driving it. I have tons of respect for the bike. I am not going to sit on here and say I have not opened her up, because I have done so a couple times to 100mph and man... I just know that I am sitting on a rocket that will bury me in the ground at any second with one not so wise move. I am going to ride it in the country for about one more week then move on to the city. My plan was to be able to go back and forth towards work. I just am not sure how I am going to handle a 4 lane highway for the first time. HOV for sure. lol

Anyways thanks for the advice guys. I would like to hear some more if anyone else has input.
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Old 05-27-2011, 10:02 PM   #10
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Age of the motorcycle can matter. I know when I got my 2006 VFR in 2008, the insurance quotes for full coverage for it were half of what they wanted for a 2008. Both bikes were new on the dealer floor at the time. And the only difference in a 06 and 08 VFR is the available colors.
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Old 05-27-2011, 10:04 PM   #11
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I'm 20 and I got quoted for 139/mo for full coverage with progressive. But it's on a Triumph Daytona 675. I'd have to agree with the statistics thing, gsxrs are more common, thus get stolen more which = high risk... So higher insurance cost. I've had my M endorsement for over a year if that makes any difference...
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Old 05-27-2011, 11:12 PM   #12
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Quote:
Originally Posted by x-ray View Post
Age of the motorcycle can matter. I know when I got my 2006 VFR in 2008, the insurance quotes for full coverage for it were half of what they wanted for a 2008. Both bikes were new on the dealer floor at the time. And the only difference in a 06 and 08 VFR is the available colors.
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Old 05-28-2011, 01:10 PM   #13
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Progressive was a joke when I called them. Try State Farm or one of the others. Some like Dairyland and more motorcycle specific companies but I've never used them.

USAA for me but you can't get it now...
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Old 05-28-2011, 01:28 PM   #14
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I pay about 1/2 of what progressive quoted me for full coverage.

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Old 05-28-2011, 03:11 PM   #15
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Quote:
Originally Posted by Eddy.T View Post
The cheapest way : Get liability + Theft Coverage...
The other option : Full Coverage...if you can afford it.

THERE IS NO OTHER WAY.

If you wanna ride in houston - you HAVE TO HAVE TO HAVE TO HAVE to have theft coverage... dont be caught dead without it...
Depends on where you park your bike
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Old 05-28-2011, 09:52 PM   #16
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state farm is generally the cheapest for full coverage on sportbikes. For liability only, typically progressive is the cheapest.

Either way, call...dont go online, and get quotes.

dairyland, allstate, progressive, state farm, geico, farmers, farm bureau...I'm sure theres others I'm forgetting.
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Old 05-28-2011, 10:58 PM   #17
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Quote:
Originally Posted by exalted512 View Post
state farm is generally the cheapest for full coverage on sportbikes. For liability only, typically progressive is the cheapest.

Either way, call...dont go online, and get quotes.

dairyland, allstate, progressive, state farm, geico, farmers, farm bureau...I'm sure theres others I'm forgetting.
-Cody
Not true, every company is deifferent for every bike with each rider. Thats why i always tell people to shop around. There are no absolutes in insurance.
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Old 05-28-2011, 11:05 PM   #18
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Quote:
Originally Posted by exalted512 View Post
state farm is generally the cheapest for full coverage on sportbikes. For liability only, typically progressive is the cheapest.

Either way, call...dont go online, and get quotes.

dairyland, allstate, progressive, state farm, geico, farmers, farm bureau...I'm sure theres others I'm forgetting.
-Cody

State Farm was double what I am paying with Progressive for full coverage.

SF has my homeowners, 5 life policies, 2 car policies and they still couldn't get close.
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Old 05-28-2011, 11:36 PM   #19
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I was with Progressive. I got quotes from State Farm and Geico.
Geico was much less expensive for better coverage.
One more thing to consider when choosing an insyrance company and that's their service if you have an accident. I deal with insurance companies every day and trust me when I say some are much better than others when the time comes to repair your wrecked motorcycle.
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