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what's up bitches
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Discussion Starter #1 (Edited)
Okay, im a newbie but i've been following the forum for quite a while and know what to expect as a newbie and beginner biker. Basically, i just put in estimates and hypothetical #'s for the insurance quote to see how much it'll cost me APPROX. and guess what? Progressive Motorcycle Insurance gave me some bullshit quote about how 12months will cost $2587!!!!! WTF?! I quoted myself about 6 months ago and it was like 900/year.

This is what i put down for the quote: Im 18, live with parents (but i go to college), bike is garaged, i put the bikes as a 2001 Honda Cbr600F4i, took the MSF course and have motorcycle endorsement, put the highest deductible for collision and comprehensive, and HAD to put uninsured motorist insurance cause it's required for collision. I put down that I got one traffic violation (6 months ago, i got a speeding ticket for 76 in a 65, but took traffic school and got it cleared. I still put it down though), i also put down that i use this bike for pleasure, not work or schooll.... how the hell is the quote 2500 per year?? that's more than car insurance, WTF?! Any suggestions or advice on how to cut?

Right now, im registered to take the MSF course this thursday and im working full time this summer to raise about $4500 for a used 600cc bike and gear. I need collision cause i will be MAJORLY pissed WHEN (not if) i lie it down? Also, college calls for a lot of vandalism. :/ Any help is appreciated... i know a lot of experienced bikers here know what to do. Thanks

-David

EDIT (after talking to my dad) : I made the mistake of mentioning the traffic violation, but i wasn't supposed to put it down because it was cleared by Traffic School. Still need advice though. Thanks
 

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Your biggest problem is that you are 18. Being young and having an SS bike will make your quote ridiculous almost anywhere you go. You are a huge liability according to statistics.
I doubt you will find many quotes below 1500 if you still go with full coverage.
 

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Bike-lines smoking some serious CRACK. They quoted me 3800 for one year, full coverage. Thats with one ticket. I'm getting full coverage from progressive for over half that.
 

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Like said above...it's your age and statistics that make your rates so high. I also don't think your rates will drop very much if any at all for having 1 ticket. I recently got an online quote from progressive, and my rates didn't change until I put more than one violation down.

You might want to try getting insurance under your parent's name for now. It will likely be cheaper. The quote you are getting from the Progressive site is for you and the bike alone, and not a house, cars, life, etc. Covering all those other things with the same company are the reason why some people are able to get such great rates.

Lastly, you may just want to think about dropping collision coverage. If you can't find a reasonable rate anywhere else, you will probably save enough money by not paying for collision that when you do drop it/crash/etc, you will have saved enough to pay for repairs and maybe more.
 

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Get off the internet and go see an Independant Agent. They can write policies from different companies and let them look for you. Besides, if you have a problem, you call the agent you know instead of an 800 number where they could care less. I use a local agent for all of my policies
 

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Progressive WILL insure you. Will you like what they charge? Nope..

Check around, rates vary greatly but your age and the bike you want are two strikes against you. Statistics say within three months you will have tossed and totaled that bike and made a major claim.
 

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State Farm - 600/yr full coverage, 50/100/50 limits and 200 ded on comp and coll.
Progressive - 1900/yr full coverage, 20/40/20 limits, and 1000 ded on comp and coll.

I think part of this has to do with the way that ins companies rate the bike. State farm does their based on the cc's of the motor, and not on the bike itself. ie, and 750 crusier is more expensive than my 600SS because (this was true with my buddies bike and mine, 750 shadow) it has a larger engine. Progressive I think uses the type of bike as well, and understands that a drop in a parking lot on a SS bike is going to cost 3k-4k because of the farings..... Look in to statefarm, and allstate. somewhere with an agent, where they don't actually know what a "sissy bar" is. ;) PS: your age is going to screw you, regardless.
 

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You might want to see what a different type of ss will cost you as well. In my area F4i's are supposedly stolen more than other bikes so the insurance is higher on that aspect as well. I pay 100 a month for liability and I'm 22. Your credit is another big aspect on your insurance. Its not supposed to be but it is. If you have no credit or bad credit they tend to think your a risk of not paying your premiums.
 

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thebird_19 said:
Your credit is another big aspect on your insurance. Its not supposed to be but it is. If you have no credit or bad credit they tend to think your a risk of not paying your premiums.
The reason that some ins companies look at credit is to determine if you are more in "need" of money, and are a threat for a false or fradulent claim. They are not as conserned with non-payment because if you don't pay, they don't have to pay.
 

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If this is your first bike perhaps you should consider something other than the F4i. A Ninja 500 would be a far better choice, and the insurance would be considerably less.
 

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Where do you live? I am an isurance agent in MA, and the prices here are pretty step. My boyfriend is paying out the ass ($2500) because he is a high step as well as a new rider. It doesn't matter if you have been driving a car for 20 years or 1, if you just got your bike license you are considered brand-new (no special discounts).

That being said:

bumblebee said:
Get off the internet and go see an Independant Agent. They can write policies from different companies and let them look for you. Besides, if you have a problem, you call the agent you know instead of an 800 number where they could care less. I use a local agent for all of my policies
Bumblebee is right. It is a hell of a lot easier to call up your agent and speak to them about a claim, problems with the deck pages etc, than it is to call up some no name guy/gal at some 1-800 number than only knows you by your policy number, not you as a person. I find it a lot easier for my customers to come in and talk to us, than calling on the phone. It makes it more personal, and geniune.


funkeycold said:
Lastly, you may just want to think about dropping collision coverage. If you can't find a reasonable rate anywhere else, you will probably save enough money by not paying for collision that when you do drop it/crash/etc, you will have saved enough to pay for repairs and maybe more.
This is NOT what you want to do. DO NOT EVEN THINK ABOUT IT! You are new to riding, you are planning on buying a "b*****" bike. You NEED the collision. God-forbid something happens. If you get into an accident with another vehicle, not only could it kill you, but if you live, your insurance company will only pay your medical bills, up to a certain amount. Because you decided again collision, if its the other guys fault, they won't fight the other insurance company for you. You have to do the fighting for yourself. And let me tell you... I have first hand knowledge of Insurance Carriers... they are slimballs. They will try to stonewall you every chance they get.

To recap... go through an indepent agent... we are good people. And def get collision. If it is so expensive get a $1000 deductible instead of $500.

This is just my $.02 though. I am speaking from experience. And as an agent, I would like to think I know what I am talking about.
 

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Ahh the insurance queries of every new rider. Just be ready to pay out the ass to have this toy. Sometimes there is no way around it.
 

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simple buy a FZ6. :lol
1. cheap insurance $1600 compaerd to $5500 for R6
2. R6 engine
3. sex appeal of naked sportsbike. (ohh EU and Aus only my bad) :neener
4. good for long hauls
3. YAMAHA
4. as the best forum on SBN... :lao
 

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Insurance is a joke. They rob you of your money, then when you want to make a claim it's a big pain in the ass and they jack your rates up and screw you for more money. Im paying $1400 a year right now and it's only because $950 of that goes to damages to my bike if i wreck it (forgot the technical name of it). I got a loan so i need full coverage. As soon as the loan is paid off it's going to drop to around $450 a year. I can't wait. I figure if i do fuck up my bike i will pay and fix it myself or buy a new one depending on how bad it is. Im all set with making an insuracne claim and then having my rates jacked up. Plus they have a deductable to :rolleyes
 

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oober said:
The reason that some ins companies look at credit is to determine if you are more in "need" of money, and are a threat for a false or fradulent claim. They are not as conserned with non-payment because if you don't pay, they don't have to pay.
This is 100% true...an agent told me.

The ONLY insurance company I found with good rates is State Farm, I'm 31 and my driving record is clean!!! All other agents I talked to said that SS bikes present a HUGE liability. Like others said, your age also hurts you. It's criminal that they'd make you pay more for monthly ins than your bike payment. Unless you can afford it and you're hell-bent on a SS, your best bet is to look at either a bike w/ lowerr cc's or a different type of bike. Good luck homey!!!
 

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The Katana guy is correct. Statistics have you totalling the bike inside of 3 months, and a 1 in 8 chance of killing yourself doing it, and a 4 in 8 chance of being seriously injured.

The 2500 dollar quote is a rip off, for sure. They probably want half of that up front too... But the insurance underwritters need to protect themselves from threats like you. Most reputable companies would laugh you out of the office.

Your quote certainly isn't the highest I've heard ( I've seen over $5000/yr for an upstart on an R1 ). But realize that when ins. cos. quote high like this, they are protecting the rest of their clientelle from paying higher rates too. That figure is MEANT to scare you away, thus avoiding a statistical no-win situation.

My advise. Start with a smaller, less threatening bike.
 

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Buy a naked bike or (gasp!) a cruiser and suck it up for a couple of years. If you can make it a year or so with no claims you can probably get cheaper quotes later.
 

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what's up bitches
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Discussion Starter #20 (Edited)
First of all, thanks everyone for their input. Okay, for some reason, Geico quoted me 2500/yr .. and when i used a different email address with the same info (except this time, i removed the speeding ticket violation) it went up to 4000/yr!! WTF. but Progressive gives me $4500. I'm thinking about giving my car insurance co. Allstate a visit, to see if i can put a bike under our family's car insurance. And like others said, I will not deny collision coverage because... if i total my bike, there's no way id be able to buy a new one with my own money, or fight the other insurance company about it. I know i'm young but i was expecting around $1200/yr... just like how i was quoted when i did this a few months back. Anyone have any idea if other bikes (sport bikes) will give me a cheaper quote? I only put in the 2001 Honda CbrF4i because it was just what i heard to be a pretty good beginner 600cc bike. I know i would go with a ninja 250 or 500ex but, honestly, im working too hard to raise money for my bike and I dont really want to spend 2000 on a ninja when i know im going to trade it in or sell it after a couple months... and i can get a used honda f4i for about $4k. Other bikes i were considering were.... Suzuki gxxr, honda cbr f3 (not too bad!), R1 (haha i wish), Kawa Ninja Z series, and maybe... if i HAVE to, a newer model Katana. I know it's a 600 cc bike and im asking to be raped in the ass by insurance, but i didn't think a couple year old bike would be too much when im getting the lowest insurance and no medical. Ill give allstate, statefarm, and others a call. progressive's rate sucks :D Thanks for the help, and I appreciate any other words of advice.

-David

VanDaRo said:
The Katana guy is correct. Statistics have you totalling the bike inside of 3 months, and a 1 in 8 chance of killing yourself doing it, and a 4 in 8 chance of being seriously injured.

My advise. Start with a smaller, less threatening bike.

EDIT: Oh yeah, regarding the quote above... That scares the shit out of me. I love bikes and I want to ride, but damn... 1/8 die?? within 3 months that is?? ......:( Ill only be riding the bike to and from my dorm to work (which would be a local blockbuster or something). No freeways or limited night riding, except once every 1-2 weeks to come home back to Orange county. That's until i get better at riding. :) Ill be going to school at UCLA.


EDIT X2: That's more like it! I went to www.bikeline.com and guess what I got quoted? $1132 for 2001 CBR600F4i, everything the same as progressive and geico. Hopefully i didn't make a mistake... i wonder why there's such a big difference in quotes.
 
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