INSURANCE?!

[NEADmike]

Ok I am about to buy a new bike. Bike-Line.com has quoted me almost 13,000.00 per year, where as Progressive has quoted me $4500.00 per year, which is still too expensive. This is obviously for full coverage ($1000.00 deductibles). If I am to buy the bike and finance it, I need to get full coverage. Is there any way around this? I thought of going with a personal secured loan, but if I secure the bike, they want full coverage on it and if I go with insecured, the APR % is over double! So I can't win! Any ideas here? I'm about dry out... Any help is much appreciated!

[NEADmike]

Oh ya and I'm 21 this June, The bike is an 04 GSXR600, no flaming please, just productive posts. Thanks!

[Louis]

Sorry, there's no way around this... Get 30 years old ASAP.

There IS a reason why they are charging that price under those conditions.

[Gixxerdale]

Wow! I thought paying $720.00 a year for my 2002 GSXR 1000, at 48 years old was high! That's full coverage with State Farm. Guess it does pay to be an old f@#$%^ sometimes.
I think you should get quotes on another type of bike and ride it a few years before paying those rates.

[pitbull76]

State Farm might get you a bit better rate.

[md2lgyk]

Yeah, check with State Farm. I just bought a new Marauder 800 and for full coverage in West Virginia (an insurance hell) I'm only paying about $375 a year. Of course, I am 56 years old.

[Tymberwolf]

You might want to try Garlow Insurance Company in Charleston, Talk to Barry. I'm 32 and paying $342.00/year for full coverage on a 04 Marauder 1600. Phone # 1-800-238-5321
Might be worth a try.

[Memphis]

no, there is no way unless you can find a bank to give you a loan with no proof of insurance. I am 19, 20 next month. I bought a 02 gsx-r600 from a used bike dealer. They found a bank to finance me with zero down and no proof of insurance at a high 13%. But I am able to have minimal insurance just enough to have it street legal. May want to look around and think of going to a used bike dealer, b/c they have a loan agent to find you the best deal for your situation.

Marauder insurances are cheaper for you guys due to that is not considered as such of a high risk due to it no being a sport bike, just like my dad he has a cruiser which is a harley sportster and only pays 180 a yr full coverage.

Hope my situation I delt wit a month ago will help

[Crazy1ear]

I just insured my 02 750 Kat - liability, collision, fire and theft, vandalism, all for less than $600 Cdn. per year. I had priced the same level of insturance for a 01 Intruder (1400 cc) and it was nearly $200 higher.

I know the Kat is not a pure sportsbike, but I would have assumed the rates for it would have been higher than the Intruder.

I'm not as old as some of these guys on here (34), but have had my bike licence since 16 and with the insurance companies experience matters. Still, I never remember paying anywhere near that for insurance growing up. That's nuts.

[Gixxerdale]

In California they only seem to care about the CC's. I can insure a new GSXR 600 for less than a SV 650! Insurance companies here make no sense.

[spirit]

Progressive quoted me $737 on an 04 V-Strom DL1000 got it at American Family for $280. 250/250 deductible, 500, 300, 100 thousand coverage.

[red7eb]

Originally Posted by Gixxerdale

Wow! I thought paying $720.00 a year for my 2002 GSXR 1000, at 48 years old was high! That's full coverage with State Farm. Guess it does pay to be an old f@#$%^ sometimes.
I think you should get quotes on another type of bike and ride it a few years before paying those rates.

You're getting robbed!! I only pay $622.40/year with State Farm, and I'm only 32 ('01 GSXR750). Maybe it's the 250 cc difference, you think?

[Gixxerdale]

Originally Posted by red7eb

You're getting robbed!! I only pay $622.40/year with State Farm, and I'm only 32 ('01 GSXR750). Maybe it's the 250 cc difference, you think?

The 250 cc's and the fact that insurance in California is rediculously high for any vehicle. The deductible for fulll coverage is only $100.00 though which is nice since it's come into play once already

[98G]

Full coverage, $1k deductible, 2004 hayabusa = $574 annually. I'm 35, no accidents, no tickets.

98G

[sparrow]

I think a number of insurers also provide discounts for successful completion
of the MSF BRC. Around here, the class is only $25, so that could we worth
while depending on your rates.

[87gsxrnut]

$162 annually for my '87 750 in CO. Includes non-insured motorist.

About the same for my '86 1100 in CA.

- Nut

[007]

The guy asked for help, but everybody is just bragging how low their rates are in comparison to his. That was not the point. You folks are not helping.

Unfortunately, there is not much it can be done. Insurance rates are insanely high for younger people (who also happen to be poorer - there goes affordability ).

You will either have to fork over bucketloads of cash, or just get a smaller, cheaper ride. If you take the MSF class, you will get 5-10% discount depending on your area. It pays for itself basically.

How about sharing the bike with an older friend, or your parents. At least on paper it could be theirs, but then you would ride it. You could get like 90% savings, if you get someone over 30 on the papers.