[TheScrambled]

Reading over some forum posts, I've realized we have a thread for most things, but not insurance. How much is everyone paying?

I'm with AllState and it's around $900 a year, but that's because the bike is only insured for fire and theft during the winter months and fully covered for a few months in the year.

 

[Cruze]

I think it's because insurance is going to greatly vary from location to location and everyone's riding experience, age, blah blah all those technical details lol

 

[Tadlock]

Roughly $650 for the year with nearly full coverage, Progressive Drive.

$50 for the xt250 with same insurance....

 

[eddie]

I was a State Farm customer here in Georgia for 32 years. No accidents or tickets on my record, A1 rating, etc...
The 2012 Super Tenere was costing me about $240 every six months for full coverage /12 months a year.
My former 2014 FZ-09 was running around $285 for the same.
Something changed in a bad way since early last year.
When I went to insure the SCR950 in September, they quoted me nearly double that of the FZ. I had the agent look up similar bikes like the V-Star 950 and Bolt.
They both were in a different classification than the Tenere and were also the much higher rate.
It didn't make sense.
They break down bikes by displacement: Up to 599cc, 600-999ccc and 1000cc+.
The larger, more expensive machines are way cheaper to insure as are a ton of 599cc sport bikes. I could insure a new R6 , CBR600 or similar for less than the SCR950.
I tried explaining to the lady that something was very wrong that they were charging much more for a 45.h.p cruiser/standard than the super high risk 600 sport bike segment.
If they couldn't figure that out, I would be changing companies come renewal time in Nov, and I did exactly that. I broke even on the house & truck and saved about $700 a year on the
the two bikes - and even more at the new inflated rate for the 950. Thank you Liberty Mutual for the Columbus State University alumni discount! =)

 

[TheScrambled]

I'm from Canada and our insurance is notoriously expensive compared to the States... Once I receive my insurance renewal letter, I'm sure a price hike will be reflected there too. Apparently, it's because they lose money on motorcycles since injuries are more severe. But your price hike compared to super sports is just weird.

 

[OpenRoad]

I think insurance companies factor in how much a bike would cost to repair too. The SCR950 doesn't have any fairing protecting the body so the damage could be more expensive to repair compared to sport bikes? That's just an assumption on my end.

 

[eddie]

I think insurance companies factor in how much a bike would cost to repair too. The SCR950 doesn't have any fairing protecting the body so the damage could be more expensive to repair compared to sport bikes? That's just an assumption on my end.

The likelihood of them being totaled outright would make me wonder why sport bikes aren't more expensive : Think squids.
I watched as an insurance adjuster wrote off a nice fellow's new R6 one morning. He'd done a slow-speed lowside at an intersection and broke the mirror, handlebar end, brake levers, foot peg, front fender & right fairing panel.
Totaled? Yep.
A tiny tab about the size of a thumbnail was made into the frame to hold a single fairing mount screw. The fairing impact snapped it off. That amounted to frame damage and they total a bike for it. The bike owner declined filing a claim and had his bike good as new for around $800 (IIRC). The broken tab? The fairing didn't seem to need it at all. We suggested he take the bike to a good aluminum welder and have him tack it back in place (a 5 minute $20 job) if he really wanted it fixed.


Some company's products are more to repair in general, too. Take the XT1200 I have. I pulled the front wheel & fork assembly to regrease the steering head bearings. While waiting for my mechanic friend to arrive & lend me a hand with the reassembly, I looked up the wheel, brake, forks and steering components. I stopped when I got to $4,000 and I wasn't finished. There's three grand sitting against my neighbor's fence in this photo. :surprise:
And yet that $13k bike's cheaper to insure than the SCR.

 

[Cruze]

That is freaking insanity :|

But it's really weird how easily they consider things totaled and if he got all that fixed back for $800, phew you can't go wrong with that at all.

You're bike on the other hand... gosh darn parts are a killer !!

 

[OpenRoad]

I'll never understand how insurance quotes work...When a $13k bike's cheaper to insure than the SCR, it makes you wonder what their statistics for cruisers looks like if the SCR950 costs so much to insure.

 

[eddie]

I'll never understand how insurance quotes work...When a $13k bike's cheaper to insure than the SCR, it makes you wonder what their statistics for cruisers looks like if the SCR950 costs so much to insure.

I tried to explain to the agent that the rate shouldn't be that high for the SCR950 as they had zero statistical data on the bike to say it was better or worse. So, they chose worse?
In 1993, I bought a new 1989 XL600V Transalp the Honda shop had collecting dust since they uncrated it four years prior. It was a tall, off-road intended bike with a big(ish) V-twin engine and pricey CBR styled bodywork. It cost me about $20 a month to insure and I was living in an apartment in town and the bike was kept outside under a canvas cover.
About a year after I bought my 1st Gold Wing, I was invited to test ride the entire Buell sport bike line. I really like the XB9SX City X 900 and was looking at buying one. The Buell was 1/2 the price of the Honda and cost twice as much to insure, almost to the dollar.
Why? Buells didn't have the best rider behavior records, apparently. ;-) I kept a DL1000 for two more years instead.

 

[OpenRoad]

I feel like they just lump all cruisers together and call it a day, which is not fair IMO... But arguing until you're blue in the face won't do much, best to just bring your business elsewhere, which shouldn't be hard if you have a clean driving record.

Heck, was talking to someone with a Ducati 959 who pays $843 annual with State Farm and he tracks his bike.

 

[Mellowrider]

I just bought an scr. I got it for 5 grand on sale. I had insurance on my 40 year old KZ750. 85 bucks for the year. Liability.
I bought the SCR and had the insurance dropped on the 750 and just got liability on the scr. They asked me if the finance company had any requirements.
I said none they told me of. So to make it short. Im paying 80.00 a year because I dropped the roadside assistance because I have it with Yamaha.
I just ride short rides around town. In the country once in a while. If something happens to it in my garage, I have homeowners ins.
Im not worrying about it. The bike is so cheap to begin with. Im too old to ride like a younger person. Im slow and steady. (Old) and Il be fine with this setup. And its cheap!
Until I find out otherwise. Im paying $80.00 smackers a year!!!

 

[yoitsemo]

So do you fellas think that full coverage for ~$542 USD will be the best price I'm going to find?

 

[OpenRoad]

If you really can't find anything better, then I suppose that's not bad. It should go down after a while so long as you don't get into any accidents.

 

[eddie]

Just got the renewal notices on my two bikes. They went up from $760 to $909/ a year with no tickets, claims, status changes of any kind. =(
My 2016 Tacoma went from $1174 to $1445/ year.
Sayeth the agent when I emailed my concerns,
"You got the renewal before I did. Let me review and get this backdown. Have a great day! Thank you again!"
I still haven't heard back from her.

 

[ilchee]

My cost with Progressive is $23 a year. That's using the multi bike discount & full payment option. That's for liability in Washington state.

 

[yoitsemo]

My cost with Progressive is $23 a year. That's using the multi bike discount & full payment option. That's for liability in Washington state.

So is that only for the mandatory liability? No damage/theft/medical included?

 

[ilchee]

So is that only for the mandatory liability? No damage/theft/medical included?

Yes. It's Liability only. I don't need full coverage as its paid for....Progressive was the least expensive I could find.

 

[JAK]

I go through Progressive with a USAA discount. I have full coverage (Comp and Collision) with the mandatory minimums with $50 deductible. Paid-n-full for the Year is $213. I also got a mutli-bike discount for keeping my old 100cc scooter on the policy. Saved me about $30.

 

[Big-X]

Believe it or not mates, Harley Davidson offers some great rates that I have found to be lower than most of the other Insurance Companies. Google "Harley Davidson Motorcycle Insurance" and there is an online insurance program that you can get quotes from. Everything can be handled online and you can even print out your insurance certificates! Good luck amigos!