Insurance - Comprehensive & Collision

[Psycluded]

Recently I went through a rather rough time trying to find an insurance company that would insure my bike (2005 Honda CBR600F4i) with full comp&collision. I'm 25 years old, and I have no tickets or accidents on my driving record. I've taken the MSF BRC course, and have no history of drunkenness or drug use.

Progressive quoted: $2,950/yr ($1000 deductible)
GEICO: $4,250/yr ($500 deductible)
Alfa: $3,200/yr ($500 deductible)
State Farm: $2,500 ($750 deductible)

Finally, after running around in circles for about 3 days, Honda withholding payment to my dealership for the loan I got, etc. We found GMAC. Wanna know what GMAC quoted me? And this is not the most bare-bones coverage I could find, either. I've got pretty much everything I could ask for in coverage on the bike.

GMAC: $659/yr. ($150 deductible)

Apparently they specialize in motorcycle insurance or something. I asked, out of sheer curiosity, and the lady said that liability only would have been less than $200/yr. Insane...

Since my dealership wasn't paying enough attention to what was going on that they let me ride off the lot with liability only the first day I had the bike (Progressive, $895/yr), they paid my down payment on the new policy and the only thing the asked in return was that I bring in new business for them occasionally. *shrugs* They did me right by the insurance thing eventually, so that's cool.

So, moral of the story?

Don't let the dealer fool you into thinking liability only is "ok", and CALL GMAC!

http://www.gmac123.com

[honda599]

Wow wish I could get cheaper insurance rates. In BC I have year around comp/theft and seven months of basic insurance with

31 years clean driving record for $1150.00

[oldnslo]

GMAC doesn't really specialize in bike insurance, rather the insurance and financing of the sale of GM cars. It is very curious, are you also financing your bike through GMAC? Your rate for someone your age with your bike is practically unheard of.

[Aggroton]

i pay $90 bucks a year for basic insurance...i pay for health insurance so i didnt bother with any of that for my scoot.

[Psycluded]

The dealership has a subscription to some magazine that advertised a discount rate through GMAC. The code was "kte". Also, I was transferring from another policy, which got me another discount. I'm 25, which lowers my insurance slightly again, and I have taken the MSF course, dropping it another 10%.

*shrugs* It's affordable, and they were super-nice on the phone, joking it up with me and laughing about the rates I'd gotten from other providers, so I'm satisfied so far with them.

[Aggroton]

*shrugs* It's affordable, and they were super-nice on the phone, joking it up with me and laughing about the rates I'd gotten from other providers, so I'm satisfied so far with them.

thats all that matters...and i think sice my bike is not face pealing or anything like that anytime soon its much cheaper to insure.

[barmy_carmy]

Here Dave paid £97.00 for fully comp insurance, legal and medical. Now that is cheap for UK prices.

[High_Side]

Since my dealership wasn't paying enough attention to what was going on that they let me ride off the lot with liability only the first day I had the bike (Progressive, $895/yr), they paid my down payment on the new policy and the only thing the asked in return was that I bring in new business for them occasionally. *shrugs* They did me right by the insurance thing eventually, so that's cool.

So, moral of the story?

Don't let the dealer fool you into thinking liability only is "ok", and CALL GMAC!

http://www.gmac123.com

It's up to the dealer to make sure that you have insurance????

[Psycluded]

If the financing is going through the manufacturer, they have to ensure that I have the proper insurance before they close the sale. If they don't, the manufacturer's financial company (in this case, Honda) can (and did) withhold payment to the dealership. Nasty.

[BuzZz]

I was just at the Yamaha dealer tonight with Dad, who is looking at a new 04 leftover 650 V-Star classic. This topic came up and the dealer (owner) said Yamaha doesn't require PROOF of insurance on bikes financed through them, up to $10 000. I think this is so they can sell as many quads and dirtbikes, that people will never insure, as they can.... but that's just me guessing.