Insurance

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zurick · #1 Unread post by **zurick** » Mon Oct 16, 2006 5:54 am

I currently live in the Kissimme/Orlando Florida area and I'm considering financing a motorcycle. My question is whether or not I need motorcycle insurance, how much would it cost me (roughly; monthly). I'm 18 soon to be 19 and so I was just wondering if I even needed it. I plan on getting a sport bike. Also, if you could suggest some good insurance companies for the area.

thank you.

VermilionX · Mon Oct 16, 2006 6:09 am

dood!

don't finance w/o comprehensive insurance. if the bike gets totalled or stolen... you'll be stuck paying for it eventhough the bike is gone.

also, i will just assume you want a RR (race replica) bike... good luck w/ insurance on that at your age.

anyway... try state farm... they only go by cc's. so if you get a 600cc sportbike, it will cost less to insure than way less powerful 1100cc cruiser. although less is relative... since i like said, at your age, it will be tough to get a good rate.

also, if it's gonna be your 1st bike... you're putting yourself at a lot more risk than what learning to ride already has.

CNF2002 · #3 Unread post by **CNF2002** » Mon Oct 16, 2006 6:13 am

Buy an old bike less than 500ccs. Insurance will be insane for your age, and yes you will need insurance. It is unlikely the dealer will let you buy the bike on a loan without full coverage, unless it is a non-collateral loan (ie a credit card), in which case your interest rate will be higher. Buy the bike with cash. You'll need plenty of 'monthly payment' room for your insurance costs.

Shop around for insurance. Not all base their rates on cc's. Mine took the type of bike into consideration.

If you get a new sportbike, at your age, with no experience, your monthly insurance premiums will probably be more than the bike payment.

VermilionX · Mon Oct 16, 2006 6:18 am

if you want to get into sportbikes at your age...

i suggest you buy an older trackbike. then just attend track schools. you'll have no worries about bike insurance.

plus, you will improve faster with track schools.

Loonette · #5 Unread post by **Loonette** » Mon Oct 16, 2006 6:43 am

Financial institutions (at least as much as I'm aware) will not finance your ride (car, bike, or otherwise) without insurance. It's their ride until you pay it off, so they need to make sure that it is properly insured by you. They will even have you sign paperwork stating that you will keep it insured for the duration of the loan.

Call around or visit some local insurance agencies and see what's what. You can give them any scenario you like (bike year, model, etc...), and they will give you a quote.

Cheers,
Loonette

DivideOverflow · Mon Oct 16, 2006 8:02 am

zurick wrote:I currently live in the Kissimme/Orlando Florida area and I'm considering financing a motorcycle. My question is whether or not I need motorcycle insurance, how much would it cost me (roughly; monthly). I'm 18 soon to be 19 and so I was just wondering if I even needed it. I plan on getting a sport bike. Also, if you could suggest some good insurance companies for the area.

thank you.

Yes, you definitely need insurance. State Farm is the cheapest in our area because they only go by engine size.

What type of bike are you looking at? Did you take the MSF yet?

I'd suggest something between 250 and 500ccs, especially at your age... otherwise insurance will be really high.

Ninja 250, 500, Suzuki GS500F.

CNF2002 · #7 Unread post by **CNF2002** » Mon Oct 16, 2006 11:22 am

Also the Blast 500!

Nighthawk 250 and Rebel 250 are nice choices if you like the cruiser riding position more.

Some insurance companys consider the Ninja 250/500 to be a sportbike!

zurick · #8 Unread post by **zurick** » Mon Oct 16, 2006 11:39 am

I see, so State Farm seems to be the more popular but I was I thought that you needed to have auto insurance with them in order to get motorcycle insurance? I was planning on getting a 600. I was looking at either an FZ6 or an SV650S. I'm not much of a first time rider and I have experience with BIG bikes and I mean BIG bikes like a VTX 1800 (its my friend's uncle's bike and well...hes pretty much my uncle so its justified). I'll tell you, thats a heavy A$$ bike! Anyway, All I needed to know was if I needed insurance or not and I see that I do. My first choice of bike was a CBR 600RR 05 a while ago and I was putting down well over $5K for it and they still wouldnt finance me!! Thats a bit of a shocker but meh considering my age I can see why. I also have MSF certification if that helps. I was wondering if State Farm looks at that...

deedee1 · #9 Unread post by **deedee1** » Mon Oct 16, 2006 11:45 am

I got a good rate through geico. $340 a year for all but full coverage and they will prorate my discount once I have taken the msf course. Everyone else wanted way more than that. Anyhere form $500 to $1000 more a year.

have a great one and ride safe
deedee

zurick · #10 Unread post by **zurick** » Mon Oct 16, 2006 1:40 pm

Wow 340 (hundred $/year?) I can well affor that! Unless you mean 3,400/year...then thats a completly different sotry. Keep in mind that I am 18 and I have all the intention in the world to buy an RR bike. So the best option for me is to check around near wehre I live, eh? Sounds goo, but are the quotes...free? I don't see why they should't be...

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