[mydlyfkryzis]

Wow, expensive coverage. You really need to know what your covering and why. In NJ, the state requires liability and PIP. This covers others, not yourself. If you didn't finance the bike, unless you have a really expensive bike, collision and comprehensive (Fire/Theft) are not worth it. I just bought a BMW F800GT for $5500. Have have raised limits on Liab. and PIP, but not collision or comprehensive. It added $38 a year to my insurance. I insure 3 motorcycles, a 1976 Honda CB360t, a 1991 Honda Nighthawk 750, and the BMW. It is $127 a year for all three. I live in NJ, not the cheapest state for insurance, have a good credit rating and I am over 65. Back in 2004 when I was going to insure the 750, Geico wanted $700 a year. For a $2000 motorcycle. Nogo for me. In 3 years I would have the cost for a replacement. No point in collision or theft on a low priced bike.
If I had a $40,000 Harley, insurance other than PIP and Liab. would be appropriate.

I checked KBB:

That's what an insurance company will pay for a totaled MT07 at best. Paying approx $1000 a month for collision on that is not sane. If you can even afford $1000 a month, save your money for 8 months, buy the bike for cash, insure only for endangering others. Will be a lot cheaper. If you keep saving the $1000 month, you will save enough in a year to buy another bike if this one gets stolen.

What's smarter yet, you are a new rider. Get an older, more modest bike, insurance is cheaper, you won't cry as much when you accidently drop it, it will be cheaper all a round until you get some experience.

 

[vito]

Good advice for anyone considering buying a motorcycle, especially young people, is to get insurance quotes before you buy the bike. You might have your heart set on the fancy sport bike but will find that the insurance is prohibitively expensive. Likely a cruiser will be your best bet in terms of lower insurance costs. I have two bikes, both bought new, with a total cost to me for the bikes of about $30K. My annual insurance cost is about $200 for full coverage from Progressive, but then again, I am old and have ridden for many decades and my onw and only claim was 24 years ago.

 

[BAZININJA]

Just renewed with Progressive on my 2018 NINJA 650 ABS KRT, full coverage, $241 for the year. 57 years-young female hooligan on a crotch rocket. The collison/comprehensive is $154 of that. I sure can't replace my bike for $154.

I had a 2015 NINJA 1000 ABS KRT which I totaled in 2017.😭😭😭 But I had kept every single receipt for every farkle I had put on it, so I got a nice settlement that paid off the balance owed to the credit union, allowed me to buy a 2017 NINJA 300 ABS KRT outright, and have a little left over for more farkles.

 

[gunsmoker]

I could get bare-bones liability coverage for $50 a year.

I chose, first two years, to get full coverage:
Collision,
comprehensive,
road service,
uninsured motorists, and
extra bodily injury coverage for myself (even if the accident was my fault. This $$ is supposed to give you the money you'll need to meet your co-pays and deductibles under your general healthcare plan.)

That was $425 a year.

Now I switched companies, to Progressive, dropped the collision, but kept "uninsured motorists" and medical payments (to me & my passenger), and emergency road service. Now it's $160 a year.

My bike is a 1996 Honda Shadow 1100 (a pure cruiser; for old people like me to ride at modest speeds.)

 

[BAZININJA]

You're not THAT old, and you don't ride at THAT modest of speeds...

 

[Steadfastly]

How Expensive Is Motorcycle Insurance?


Too.

 

[jameswilson29]

It is amazing how much information the insurance companies want now on the application. I just recently covered my motorcycle, and helped my wife shift her coverage on her vehicle from State Farm to Progressive. It is not just your credit rating, your driving record, the vehicle, and the area where you operate the vehicle, the demographic information now includes your marital status, whether you own or rent your residence, the number of occupants in your residence, your highest educational level reached, and your occupation. I suspect a variety of factors now correlate with the risk to the insurer.

 

[Unkle Krusty]

Some places are asking for how you identify.
Grumpy old bugger, unemployed bum, that has been perving over girls since I was five, with all the original male parts, hot chick for a girlfriend.
They usually do not have a spot for that.

 

[KyanBishop]

Motorcycle insurance can vary a lot depending on a few key things. Generally, if you have a smaller bike, it might not break the bank. But for bigger or sportier models, you might find yourself paying more. Your age, riding experience, and even where you live play a big part, too. Some folks pay around £200 yearly for basic coverage, while others with more powerful bikes can shell out £600 or more. It can be a bit of a sticker shock, but having the right coverage is essential. It’s a good idea to shop around and compare quotes. Websites like sundaysinsurance.co.uk can help you find the best deal.

 

[vito]

Sounds like AI as a first post, saying nothing we don’t already know.

 

[DannoXYZ]

Motorcycle insurance can vary a lot depending on a few key things. Generally, if you have a smaller bike, it might not break the bank. But for bigger or sportier models, you might find yourself paying more. Your age, riding experience, and even where you live play a big part, too.

Bigger bike size doesn’t automatically cost higher insurance, it’s all based upon likelihood of crashing. Most expensive insurance is 600cc supersport ridden by 16-yr olds. Insurance roughly parallels Hurt Report where larger bikes are actually less likely to wreck. So a ZX14R or Goldwing is safer for insurance companies and they actually charge less.


Yeah, insurance have most complete database on all possible variables on your risk and their likelihood of having to pay out. So they charge accordingly. Their algorithms are very similar to Japanese fuzzy-logic analogue computers using variable inputs.

I remember when I first got insurance as teenager, it was something like $300/m in ‘80s dollars. I now pay $15/m for 6 bikes. Accounting for true inflation, not govnt lies, I’m paying less than 1% of what I used to. Not sure if I’m 100x less likely to get into crash than back then though..

 

[Jack Klarich]

I pay $1 dollar a day for full coverage on Stella, this includes towing and FULL replacement value of my trike including all my custom extras

 

[gunsmoker]

I recently asked my insurance company how much more they would charge me to switch my coverage from my 1996 Honda shadow 1100 cruiser to a 2007 Honda ST 1300 sport touring bike.

Both with about 37,000 miles on their odometers.

The answer is that they would nearly double it from $167 a year to $287 per year with the same coverage.

The book value on the sport touring bike is higher, of course, because it is newer, and just more modern looking, and therefore more expensive and more valuable.

But I think the larger engine size and higher top end speed according to the speedometer probably makes the most difference.

 

[gunsmoker]

The speedo on the ST-1300 goes up to 160 mph. (I’m not sure if the bike can go that fast.)

On my old Honda Shadow the speedometer goes up to 130 mph.
I’ve never tried to go that high but it hits 95 easily. Other Shadow 1100 owners who’ve maxed out their top end speed say that they can’t get theirs up any higher than 110 maybe 115.

(I gave the ST-1300’s throttle a firm twist and held it for a few seconds on the interstate highway. I started at 60 MPH but hit 100 in no time at all, and backed off immediately. )

 

[DannoXYZ]

I recently asked my insurance company how much more they would charge me to switch my coverage from my 1996 Honda shadow 1100 cruiser to a 2007 Honda ST 1300 sport touring bike.

Both with about 37,000 miles on their odometers.

The answer is that they would nearly double it from $167 a year to $287 per year with the same coverage.

The book value on the sport touring bike is higher, of course, because it is newer, and just more modern looking, and therefore more expensive and more valuable.

But I think the larger engine size and higher top end speed according to the speedometer probably makes the most difference.

I only get liability coverage so it doesn't vary too much based upon model. After 2-3yrs of comprehensive, I'll have saved enough money to buy another bike anyway.

View attachment 90477

The speedo on the ST-1300 goes up to 160 mph. (I’m not sure if the bike can go that fast.)

On my old Honda Shadow the speedometer goes up to 130 mph.
I’ve never tried to go that high but it hits 95 easily. Other Shadow 1100 owners who’ve maxed out their top end speed say that they can’t get theirs up any higher than 110 maybe 115.

(I gave the ST-1300’s throttle a firm twist and held it for a few seconds on the interstate highway. I started at 60 MPH but hit 100 in no time at all, and backed off immediately. )

Yeah, ST1300 will do about 150mph actual top-speed... about 160mph on speedo.
What's amazing is how smooth it is at those speeds, doesn't even feel more than 100mph.
The cop bikes have calibrated speedo in 2mph increments.
I've found that it's spot-on.

 

[grax]

I’m currently with Geico. The price will increase, so I've already started looking for alternatives. I’ve heard good things about Hastings Direct. Their rates might be lower for drivers with a clean record. I'm going to call the hastings direct number for details. Does anyone know about this company and their insurance plans?