Update on Insurance

[alanmcorcoran]

You guys may recall me pissing and moaning about the unanticipated cost of Insurance for my Big Bike. I mentioned it as something to check into before upgrading. Not sure if I mentioned details, but: my insurance for the GZ is about $300 a year. Because of its low cost, I just got liability. When I got the Strat, I went for collision and comprehensive. Having already done an MC policy with the "P" company, and having been able to do it instantly, over the internet/phone, AND having got what I thought was a decent price, I figured I'd just add the Yamaha on. I was a bit shocked and dismayed when they came back with $2000+ a year (and that was with a high deductible.) Because I had six months left on the policy the bill was going to be about $1100. Yikes!

Fast forward to yesterday. I get a letter from the DMV stating my registration was about ot be revoked for failure to provide proof of insurance. WTF? I thought maybe I had spaced on paying the bill. I had to go to the neighbor kids church musical, so my wife found the receipt and called up the "P" company. They "forgot" to enter in the VIN number and send it to the DMV (again, WTF?) But, and this is the best part, after they entered the VIN, they told my wife they made a mistake on the premium - it's actually $800 LESS. ('Cause it's a cruiser...???) They are sending me a check for $400. Anyway, I will be shopping around a bit in June when it is time to renew. Just thought you guys might want to know.

[JWR]

A lot of companies just go by th CC of the bike.

[patrick_777]

Most companies have a list of motorcycle types that they won't insure period. My Ninja was that way. Even though it was a 249cc bike, they wouldn't insure it because it is listed as a sportbike. I had to go with the "P" company as well, but fortunately (probably where I live more than anything), my insurance for all three bikes is just a little over $150 a year. The GZ is the cheapest of those by far at only $23/yr.

[mr. softie]

My full coverage on the GZ250 including comp and collision was $113 a year with St. Farm. The much older and cheaper but bigger GL650 is about the same, but with no comp and collision. That would be another $100 a year or so, and is probably be worth it, except the bike has been down plenty of times before and the parts for this thing are cheap. I have been seeing fairings and hard saddlebags for $40 each, a new windshield for $50 etc, even complete engines for $50, while the deductible is $250.

[Water Warrior 2]

For anyone moaning about high costs of insurance just try to insure anything North of the border. In some cases our monthly payment will equal your yearly payment.

[alantf]

Mine is 214 euros ($250?) & that's just for damage to other people/vehicles/property. For some strange reason, I'm also covered for fire to the gz, but not theft.

[alanmcorcoran]

Not sure if it is still the case, but I used to hear the NJ insurance was high was well. It was when I lived there. Here I think it's just the density of the population (in both meanings.)

$23 dollars a year! Now I know why people live in Tulsa. I've spent more than that to park it for a few hours.

[BusyWeb]

Hi, there.
That's almost same case as mine.
With GZ on Full Coverage, it's about $18 a month at the G internet company.
Asked them for my new bike Yami FZ6, they put over 2000.
It was ridiculous for it, new one is street bike not sports bike class.
I shop around and found P company, and it lows 1/3 of the G company's with full coverage.
I included all the options even though I don't needed it for the law requirements.
Still 1/3 of the G company quoted me, and changed it to P company, canceled G company. :)
I don't know why G company put that much money on it.... still don't understand.
I suggest you research more..
And good luck!

[alanmcorcoran]

Thanks for tip Busy. I hate shopping around for stuff but in this case, it's worth the trouble.

[Phil]

I pay $125/yr. from Depositors' (a division of Nationwide). and that INCLUDES collision.
They offer a discount for completed MSF course (which I understand you don't believe in)
and an additional discount if you are a member of the American Motrocylist Association.
I'm probably older than you too, so maybe that helps reduce the premium too.
I also got a quote from the "p" company and this one was 1/3 the cost.
You might want to check them out.

[alanmcorcoran]

Will do. BTW, I took the MSF course. It saved me about $25 on the original (wrong) $2000 premium. I think I could get the biggest discount if I moved to a less populated area, like Wyoming.

[burkbuilds]

I've got my coverage through Allstate, no collision, but I do have a $10,000 medical rider included on the policy (my wife insisted because she said it would cover any deductible from our health insurance) for $112 a year.

[Sarris]

I have mine through American Family Home Insurance Co. It's a full boat deal with 100K BI. It's $120 yearly for the GeeZer and $360 yearly for the Harley.

Also, have full replacement value for the HD.

My 2006 accident was a good learning experience (read screwing) regarding insurance. OW!!!! Screw me once, shame on you. Screw me twice shame on me.

:)

[alanmcorcoran]

Am I just incredibly stupid (please limit your responses to one page) or are insurance rates vastly different here in So Cal?

Even with my new improved rate, we're still talking $1200 a year, just for the Strat (with collision and comprehensive.) I might have a $300K policy, but I doubt it. And the Yamaha sells for less than an HD. This is with "P" company.

Do rates go down a lot after you've been riding a while?

Sarris, what were you paying in '06?

[adrianinflorida]

Am I just incredibly stupid (please limit your responses to one page) or are insurance rates vastly different here in So Cal?

Even with my new improved rate, we're still talking $1200 a year, just for the Strat (with collision and comprehensive.) I might have a $300K policy, but I doubt it. And the Yamaha sells for less than an HD. This is with "P" company.

Do rates go down a lot after you've been riding a while?

Sarris, what were you paying in '06?
I'm assuming that the rates in SoCal are, on average, much higher. There probably are pockets of high insurance rates in other parts of the country, but the number of vehicles, vehicle thefts, accident repair costs, etc in So California are probably significantly higher than say, St Louis or Columbus, Ohio.

[Easy Rider]

Am I just incredibly stupid (please limit your responses to one page)

or are insurance rates vastly different here in So Cal?


Let's take those in reverse order:

Yes, the "rates" on a lot of things in So Cal are "vastly different".

Given the situation there with traffic and crime, if you don't understand WHY insurance is a lot higher, then the answer to the first part is: Yes, probably!! :biggrin:

[Sarris]

I paid a bit more in 06. The year of the accident.

But, believe it or not, in 07 I left the ProgOnLine Company foe AFH and got an additional discount for AARP turning 50 that year.

Insurance is complicated and designed to provide the customer with the least return on the maximum investment. Plus the agent gets 20%!!

:fu: Insurance Companies.

:)

[primal]

I've got my insurance through United Marine Underwriters. $200/year for my KZ550 with $100,000/$300,000 bodily injury, UM, and UIM. I'm pretty satisfied with that price, given I'm only 22. ;)