I spoke with my auto insurance agent this morning (at American Family). She said the following:
1. Full coverage insurance on an everyday 2004 (500cc) Honda Motorcycle would run me about $130/year.
2. I can't get any kind of coverage on a sport bike until I've had my motorcycle license for 10 years; and even if I did, it would cost me $1,000/year.
Please tell me everything you know about motorcycle insurance. Do I even need it? I want to buy a used sport bike (600cc or less) and spend around $3k for it. If something happens, it's not like I'm wrecking a $20k new car or even my primary transportation - and the cost to fix it wouldn't be that bad. Even if it was, at $1,000/year for insurance, I might as well just take my chances, right?
2007-03-27 06:20:15 · 11 answers · asked by mukwonago53149 5 in Cars & Transportation ➔ Motorcycles
I'm a 22 year old male. I will be taking the motorcycle safety course in late spring or early summer this year. I will then get my motorcycle license.
2007-03-27 06:21:09 · update #1
My issue is that I CANNOT GET insurance for a sport bike, even if I was willing to pay $1,000. They said I need to have a license for 10 years and I'm not willing to wait around for a decade.
Who will give me coverage on a sport bike for cheap being an inexperienced rider?
2007-03-27 06:33:40 · update #2
I rode for 12 years and always found Dairyland to provide great coverage at very low costs. Give them a look, it may be worth your while.
2007-03-27 09:40:00 · answer #1 · answered by vamedic4 5 · 0⤊ 0⤋
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2016-09-24 17:48:36 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Sportbikes are always more expensive to insure then a standard/cruiser/or touring model. They're stolen more commonly (except for Harley's) and they're generally considered by insurance companies (with good reason) to be more dangerous especially amongst the young male population.
I wouldn't ride without insurance because in many states, no insurance and you get pulled over means they tow your ride. It also means that if you get in a wreck you're not covered if something happens to you, not to mention damage to other people's property or bodily harm. The bike is the least of your worries in that case.
I'm almost 32, I've been riding since I was 16. Only the last 3-4 years have I owned a sportbike. I have a spotless driving record (never a ticket, never an accident) and I still pay a little over $400/year for coverage on my 04' CBR 600. If you want to ride the sportbike you've got to accept the costs that come with it and they'll be higher the younger and less experienced you are. That's just the reality.
If you are going to get insurance (which I would recommend) I would check with Progressive and Geico, they often seem to have decent rates for bikes.
2007-03-27 06:38:32 · answer #3 · answered by Mojo 2 · 1⤊ 1⤋
Those prices you state sound about right, even a bit on the low side. The insurance company quoter may be baiting you.
Full coverage will always cost you a fortune if you finance a sportbike. I never understood this. Full coverage for a car is often much less.
Bikes can be inexpensive enough to pay cash for. Then all you need is liability insurance, although if you wreck, that's the end of it.
2007-03-27 07:10:58 · answer #4 · answered by Anonymous · 0⤊ 2⤋
The 3000 you'd be out is not really the issue. How much damage would you do to the Rolls Royce you ran into?
No one should ride or drive without adequate insurance.
If the insurance on a sport bike is holding you back, consider a different type of bike.
I pay less than 300 per year for full coverage on my Touring Bike.
2007-03-27 06:27:37 · answer #5 · answered by thomy8s 4 · 1⤊ 2⤋
Coverage and rates vary from state to state. Different insurance providers are all over the map. They all use different formulas to calculate your rates, some even check your credit history!
Get as many quotes as you can. Hit all the on-line sites like Geico, Progressive.com, GMAC, Bikeline, AIG, etc. I have had good luck with Dairyland in some states. You will find a provider that will give you affardable coverage.
BTW - it would be good to stay away from State Farm - they have had some bad press and issues lately (look it up).
2007-04-01 14:31:00 · answer #6 · answered by CafeTBird 4 · 0⤊ 1⤋
My hubby has his motorcycle insurance thru Geico. He is taking a day-long safety course that will reduce it by 1/2. He currently pays $120 a year. The insurance is more for YOU, and anything you may damage in an accident. Do NOT take any chances on riding without!!!
2007-03-27 06:24:48 · answer #7 · answered by Anonymous · 0⤊ 2⤋
Talk to your agent again, and just ask for "minimum legal coverage" for your state.
(Edit) Talk to some other agent. Your agent is being a goof. If you call around, you will be able to find an insurance company that WILL insure you for minimum legal.
I get my insurance through Progressive, but, I'll admit, I do not have your circumstances, as I am old, have a medium-sized Japanese cruiser-style, and have been licensed for motorcycle since 1980.
2007-03-27 06:28:52 · answer #8 · answered by Anonymous · 0⤊ 2⤋
Mojo's answer is right on. I recommend calling Progressive or Geico. Progressive underwrites their own policies so you may get farther with them. There are also companies that cater to motorcycle enthusiasts and may be more understanding. I'm sure you can do an internet search for them but here are a couple:
2007-03-27 07:23:23 · answer #9 · answered by skh1972 3 · 0⤊ 1⤋
i just bought a brand new harley and its my first bike. i took the safety class and it helped with insurance i pay around $76 a month but i am on my fathers plan so that helped me as well. i would not go without insurance ever you need to be protected especially on a bike there are lots of crazy drivers out there.
2007-03-27 06:32:03 · answer #10 · answered by Blue Dolphin 2 · 0⤊ 2⤋