Insurance rates in NJ for new rider

[dlrshort]

I got a quote from Geico who insures all my cars, and holds my umbrella policy to insure an '06 Suzuki C50. The quote was $650/ yr. Being in NJ I would have expected a high quote but not that much. Also, I am a new rider. Does this sound about right?

[cruznut6]

That's a standard rate for anything over 800cc's and larger. You'll pay the same price, even if you owned a 2000 cc bike. Next year, the price will drop to around $450, assuming you don't get in an accident or any points. I've lived in Jersey my whole life and been on 2 wheels for almost 40 years, without any accidents or points and still pay the same high premiums. It's just one of those "wonderful perks" we get for living here

[NorthernYankee]

I just purchased my first bike, a 05 M50, a few months ago...I called Geico first because I used to have them a few years back and they quoted me $540. I was a bit shocked that it was that high, so I called progressive and for the same exact policy it was $223. Well you can figure out who I went with, so I say shop around.

[dlrshort]

I think the only problem I would have if I didn't go with Geico is that they would not add the bike to my umbrella policy. I have a Z06 corvette which I had to put on the policy (I had to take it off a collector's policy) because Geico refused to put it on my Umbrella unless they also insured the car.

[critter]

i pay $410 a year for my new roadstar 1700. state farm.

[ELGOLD C50T]

I suppose one of the perks of living in the USA is low insurance rates. Yes I mean low. Canadian rates are totally out of whak and there are only a few companies that insure motorcycles. I'm paying over $1000 for a C50T, into my third riding season and have a clean record. A friend with almost 10 years exprerience just signed up for over $2000 for a new Harley. I hope many of you feel better now!

[baum604]

In PA, with state farm, mine is $500.

A fellow worker when I was in South Carolina said that his bike insurence costs him $5000 a year. Not sure of his driving history or what his plan was but that is a lot of money for his sportbike.

[Slapshot2286]

Hmm...I've been riding for 5 years and I'm 21, have no accidents on my record, and this is how much I pay and what my insurance covers:

$1162 per year

Liability to Others:
Bodily Inury Liability: $100,000/$300,000
Property Damage Liability: $50,000

Uninsured Motorist: $25,000/$50,000
Medical Payments: $5,000
Comprehensive Ded.: $1,000
Collision Ded.: $1,000
Custom Parts/Equipment: $1,000


I chose to go with some pretty expensive stuff because I guess I like to be safe...I dunno. But I got a discount because I'm a homeowner and because I'm in the military. I got my insurance through USAA, but Progressive wrote the policy.

[dlrshort]

Originally Posted by Slapshot2286

Hmm...I've been riding for 5 years and I'm 21, have no accidents on my record, and this is how much I pay and what my insurance covers:

$1162 per year

Liability to Others:
Bodily Inury Liability: $100,000/$300,000
Property Damage Liability: $50,000

Uninsured Motorist: $25,000/$50,000
Medical Payments: $5,000
Comprehensive Ded.: $1,000
Collision Ded.: $1,000
Custom Parts/Equipment: $1,000


I chose to go with some pretty expensive stuff because I guess I like to be safe...I dunno. But I got a discount because I'm a homeowner and because I'm in the military. I got my insurance through USAA, but Progressive wrote the policy.

I'm sure your age is the determining factor. I guess there is some advantage to being old!!

[Slapshot2286]

Well the expensive things were the $100,000/$300,000 ($230) and the Medical payments (Which I really don't need, at $333). Other than that, it'd be like $700.

[blackie1491]

To compare the difference in our rates you must look at the coverage.

Uninsured motorists protection 1 million
Third party liability 2 million
collision deduct. $500
Comprehensive deduct. $300/Windshield $200

It is costly.

[DaveH]

Just FYI. Progressive is currently, by far, the cheapest insurance for motorcycles in NJ. I just began riding and compared rates from approximately 20 different companies (I've got a boring job) and have maximum coverage with $100 deductibles for collision and comprehensive for under $200 a year.

I even have a friend who works claims at Progressive and she confirmed that every shop she has spoken with is bewildered that any rider in NJ would go with anyone besides Progressive.

I personally hate progressive as they dropped my car insurance 7 years ago after a 5mph bump, but I wanted to save the $300 or so on the rates so I sucked it up.

[NorthernYankee]

Originally Posted by DaveH

Just FYI. Progressive is currently, by far, the cheapest insurance for motorcycles in NJ. I just began riding and compared rates from approximately 20 different companies (I've got a boring job) and have maximum coverage with $100 deductibles for collision and comprehensive for under $200 a year.