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Discussion Starter · #1 ·
I want know why insurance is so expensive. I here people all the time say they got full coverage for $700-1200 a year, but everytime I check it out it is between $2700-7800 a year. I even know a girl who has never riden before or even take the safety class and she just bought a new CBR600RR and her was $800 a year for full coverage. I have check into about every company out there. I have clean driving record, no wrecks & no tickets, but they always quote me some outrageous price. If someone could help me out with a good company to go to or a reason why its so expensive.

Thanks,

J.
Midland,TX
 

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Womens coverage is much lower.
Do you own your bike, or are you still making payments?

And the younger you are the more expensive its going to be.

I just checked what mine would be at progressive.com and I was quoted 1400 for a year. And I own (no paymnets) a 2004 r6 and I took the MSF course and I have no tickets or accidents in the past 5 years. Oh and Im 25 years old. Isnt it when you turn 26 (men) your insurance drops a lot?
 

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Here is what progessive is quoting me at for 1400

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Vehicle #1 -2004 YAMAHA YZFR6

Bodily Injury & Guest Passenger coverage:
$25,000 person/$50,000 accident

Property Damage coverage:
$10,000 property damage

Uninsured / Underinsured Motorists Bodily Injury coverage:
No Coverage

Medical Payments coverage:
No coverage


Comprehensive coverage:
$250 deductible


Collision coverage:
$250 deductible


Roadside Assistance coverage:
No Coverage


Custom Parts and Equipment coverage:
1000


Roadside Assistance coverage:
No coverage

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I'm 18 and have no tickets, no accidents, and the bare minimum for me a year costs near $1,000. And I'm doing the Yamaha credit card so it's not considered financing. It sucks...
 

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Credit Rating

Nowadays this plays the biggest role in what they charge for insurance.

If you have a credit rating of 700+, you are going to get some pretty good insurance rates. Especially if that is combined with a good driving record. If you have a credit rating below 600, you are screwed.
 

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For me it was age.

I called around when I was 20 yo and they were quoting me about $3000 per year. I crapped my drawers and said something about having a heart attack and the insurance gal told me to wait until I was 25 to get a sport bike. So I did.

Rates went down to about $600 per year. I'm 31 now and pay about $450 per year on my 2004 R6. Wish I could get the same rates for my car.
 

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Discussion Starter · #10 ·
WELL THE GIRL I KNOW JUST TURNED 20 OR 21 (I CAN'T REMEBER) AND SHE HAS TICKETS. I AM 24 YRS OLD, I HAVE NO TICKET OR WRECKS. ALSO I HAVE PERFECT CREDIT. I CAN GET GREAT INSURANCE RATES ON CARS(EX:CORVETTE & CAMARO), BUT JUST NOT ON A BIKE. I HAVE ADD THREE CAMAROS ON MY INSURANCE AT ONE TIME AND IT IS EVEN AS HIGH AS JUST THE BIKE ALONE. HELL I CHECKED ON A NEW 2004 CORVETTE, JUST TO SEE AND IT WAS LIKE $1200 A YEAR FOR FULL COVERAGE. HELL I AM EVEN APPROVED TO BUY A NEW VETTE IF I WANT IT. I JUST THINK I AM GET SCREW SOMEWHERE IN THE DEAL. I CAN NOT UNDERSTAND CHARGING LESS AMOUNT OF MONEY FOR INSURANCE ON A $50-60K VETTE THAN A $8K BIKE. BUT ANYWAYS THANKS FOR ALL THE HELP. I GUESS I AM JUST GOING TO HAVE TO BUY A NEW ONE SO I CAN JUST GET LIABITLY. THANK GOD THATS ONLY LIKE 400-600 A YEAR OR ATLEAST THATS WHAT I HAVE BEEN QUOTED.
 

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if you only get liability make sure you store it somewhere safe to prevent theft. liability should be ~200 per year and the money you save by going this path is dandy. just be prepared to take the financial hit if you wreck it. most of the time the damage is cosmetic and shouldn't be too expensive to fix. as long as the otd price is under 10k you aren't required to have full coverage (at least here in ohio)

1200 a year for full coverage is stupid. try transferring your cars to state farm, i heard ~500 year full coverage for a bike if you insure your cars with them...
 

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i'm 24, and pay $1050 for full coverage on a 03' R6. And i do make payments...I even had 2 claims on my old R6 from wrecking it. But no tickets thus far. Mine's through progressive.
 

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im 22, live in NJ and have a 04 r6, my insurance is $579 a yr for full coverage. If i want liability only i think it is around $160 a year.
 
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