motorcycle insurance

[marshal]

hey guys

i kind of searched around but i couldn't really pinpoint anything directly on the information I'm looking for

I'm looking at getting a bike again, i haven't ever had a new bike but i used to ride a honda CR250L for a while, and was did my fair share of time on KLR650s in the Air Force. i think the insurance i had on the Honda was something like $25 a month for full coverage, but it was only a $2300 bike.

this is going to be the first time I've bought a new bike and i had my eyes set on a Duacti Monster 1200S or a BMW R9T. I'm super confused about the insurance on these new bikes. the Ducati is $16,000 and the BMW is $15,000, not a big price difference. they're both 'naked sport' bikes but they're not super bikes, which is why I'm left so perplexed by this. id be financing a partial amount on the bike so i know full coverage is needed but this is where its crazy for me

im 25 year old male, married, no accidents or tickets and i own a home in a safe area

Progressive wants ~$1300 a year for their standard rate (seems reasonable)
All State wants ~$6300 a year (******)
and my current carrier, Kentucky Farm Bureau (who has been really good to me and insures my modified 2010 4Runner with full coverage for $57 a month) wants $4700 a year


am i missing something here? i feel like I'm getting totally taken advantage of here

 

[agavelvr]

Insuring a young person on an expensive, financed, powerful bike is statistically a risky proposition. A simple drop could result in the bike being totalled, insurance companies aren't fools in this regard. Shop around, but don't be surprised by high rates, especially if it your primary vehicle. Or wait till you turn 30-35

 

[zelatore]

Bike insurance is especially painful for somebody your age. It's just the way it is, right or wrong. I've found shopping around is critical - as you're seeing. When I was insuring my Triumph Sprint RS (a half-faired 955cc sport bike) I found some companies considered it a sport bike and some rated it as a touring bike; possible because the fully faired version, the Sprint ST, was a sport touring rig akin to a Honda VFR. As such, some were pricing it like a GSXR/Ninja/R1 - ie crazy, and some were pricing it more reasonably. I suspect that's what you're finding in the huge disparity in pricing. Some are treating the Monster as a full-on sport bike while others are treating it like the naked it is.

Don't bother trying to explain the difference to them. If they don't know, they likely think motorcycles come in only two varieties: 'Harley' and 'ninja bike'. Just round file the stupid ones and move on to the next quote.

FWIW I'm with the lizard on my current Speed Triple and KLR. But I'm over 40 now, so my rates aren't exactly comparable. In the past I've also used Progressive because as you've seen they have reasonable rates. It might be worth looking at doing a joint policy with your truck as well as some will give a 10% multi-policy discount. I doubt you'll find a much better deal that what they've quoted you.

 

[Maxcustody]

Check GEICO. I have had them for years with my bikes.................

 

[hansrober]

GEICO here too. I am just over 40. My 15 Hyperstrada is $350 a year. Did they ask how long you have been riding? I wonder if completing a rider safety class could earn you a discount ?. My 35 year old riding buddy is with State Farm his Triumph Street Triple is about $650 per year.

 

[LandCruiserPhil]

GEICO

 

[marshal]

I have the rider safety class and a full on license. My license is fairly new, but I've been riding dirt bikes since I was 12 and riding on the street since I was 17. I just can't believe that being past 25, married with kid, veteran, stable job, owning a house with a garage in a safe suburban area that it's that ridiculous.

I do believe that you guys are right, that some insurance companies are classifying it as a full sport bike (which my insurance company did) vs others classifying it as a sport/touring or naked. They're powerful bikes but they're not crazy. The BMW is knly 110 horse power.

I just never thought I'd be dealing with this kind of uncertainty with a new bike, hell - the ducatis are the safest bikes on the road with their safety pack.

Im going to look at USAA and geico tomorrow to see what they have going on. When my brother was 25 he got his BMW K1200r which at the time was the fastest bike on the planet, even faster than a hayabusa - his insurance was 80 bucks a month.

I'm fine with having to pay a grand a year because of my age, but over 6000? You have to be kidding me.

 

[agavelvr]

I do believe that you guys are right, that some insurance companies are classifying it as a full sport bike (which my insurance company did) vs others classifying it as a sport/touring or naked. They're powerful bikes but they're not crazy. The BMW is knly 110 horse power.

You are pissing into a headwind my friend if you think either of those bikes are not crazy powerful in the eyes of an insurance company. Their rates are based on statistics and you want to ride bikes that weigh under 500#, produce over 110 HP, and can exceed 125 mph in an age bracket that typically has the highest rates of accidents due to lack of riding skills. If you want that level of performance, you pay for it twice.

The Ducati stats...
DRY WEIGHT 446 lb.
WHEELBASE 59.3 in.
0-60 MPH 2.6 sec.
1/4 MILE 10.31 sec. @ 130.93 mph
HORSEPOWER 130.3 hp @ 8840 rpm
TORQUE 83.4 lb.-ft. @ 7260 rpm
TOP SPEED 153 mph

I was unfamiliar with that bike and looked it up. I can see why an insurance company would classify it as a sport bike simply based upon the power:weight. I bet it is a blast to ride just looking at the stats and pics.

 

[zelatore]

Performance is relative. While the Duck is no way a slouch, it's a comparative dog next to the latest/greatest hypersport like an R1 or SS1000RR.

More than anything I would think the lack of plastic would merit a bit of an insurance discount relative to a fully faired sportbike though, regardless of performance. Just plain old less expensive to fix in a tip-over. Well, if anything can be described as 'less expensive' when discussing euro-bikes.

Regardless of the bike, $6K a year is just outright highway robbery though. They should be ashamed for even suggesting it!

 

[marshal]

You are pissing into a headwind my friend if you think either of those bikes are not crazy powerful in the eyes of an insurance company. Their rates are based on statistics and you want to ride bikes that weigh under 500#, produce over 110 HP, and can exceed 125 mph in an age bracket that typically has the highest rates of accidents due to lack of riding skills. If you want that level of performance, you pay for it twice.

The Ducati stats...
DRY WEIGHT 446 lb.
WHEELBASE 59.3 in.
0-60 MPH 2.6 sec.
1/4 MILE 10.31 sec. @ 130.93 mph
HORSEPOWER 130.3 hp @ 8840 rpm
TORQUE 83.4 lb.-ft. @ 7260 rpm
TOP SPEED 153 mph

I was unfamiliar with that bike and looked it up. I can see why an insurance company would classify it as a sport bike simply based upon the power:weight. I bet it is a blast to ride just looking at the stats and pics.

for ****s and giggles i got a quote for a KTM 690 Enduro R, you know- overgrown 690cc single cylinder 60hp dirt bike. guess how much that was... the first two numbers of all the previous quotes were the same.

 

[marshal]

i checked out Geico on your guys recommendation, $49.77 a month for full coverage. i seriously can't believe what these other insurance companies are smoking.

 

[SDDiver5]

esurance?

I use esurance for my truck and recently added motorcycle insurance for my DRZ400s and got it for $6.66 a month. Yes I know, BIG difference as to bike but it's at least worth looking.

Out of curiosity, why do you have to buy brand new? Why not get a used one that's a few years old for cheaper price and cheaper insurance?

I don't know insurance that well all and this is prob a long shot, but, would your recent accident have anything to do with the high price? I know it wasn't your fault but don't insurance prices rise when you get in an accident?

 

[marshal]

esurance?

I use esurance for my truck and recently added motorcycle insurance for my DRZ400s and got it for $6.66 a month. Yes I know, BIG difference as to bike but it's at least worth looking.

Out of curiosity, why do you have to buy brand new? Why not get a used one that's a few years old for cheaper price and cheaper insurance?

I don't know insurance that well all and this is prob a long shot, but, would your recent accident have anything to do with the high price? I know it wasn't your fault but don't insurance prices rise when you get in an accident?

i didn't include my accident on those quotes, and it didn't change on geico or progressive when i added or subtracted the accident from the information.

the reason why I'm looking at new, is the fact that the bike i want has only been in production for 1 year, used ones are super rare and cost almost the same as a new one. so why not buy a new one and get the warranty and know the full history.

 

[SDDiver5]

i didn't include my accident on those quotes, and it didn't change on geico or progressive when i added or subtracted the accident from the information.

the reason why I'm looking at new, is the fact that the bike i want has only been in production for 1 year, used ones are super rare and cost almost the same as a new one. so why not buy a new one and get the warranty and know the full history.

Makes sense. Good luck. Make sure to post the obligatory new bike pics once you get it!

 

[marshal]

believe me, i will - but its still a few months out.