Insurance

[hambyman]

I'm taking the MSF course right now and planning on buying my first bike very soon. I'm interested in a 1998 Suzuki Katana 600F. The seller is requesting $3000. The cheapest insurance quotes I got for it came from Progressive. They want about $150 a year for liability only and around $1000 a year for full coverage. In 3 years with full coverage, I'll have spent more on insurance than I spent on my bike! What coverage do I really need for a bike like this? Is there any reason to stay away from Progressive? Should I add on theft, comprehensive, collision, etc? What other options would I want to add on?

I don't really know what to expect insurance-wise. Can someone please give me some suggestions? What kinds of policies do people with roughly $3000 bikes have?

Thanks in advance!

i got a quote the other day for insurance on a SV650S for me, an 18 yr old. $538 yearly from Allstate, that includes liability and comp - no collision. not sure what im gonna do yet, but $45/month aint too shabby

[Nibblet99]

Over here in the uk,

Comprehensive covers any damage done to your bike, as a result of your own incompetance.

Liability only (here called third party) Only covers the damage to the vehicle you hit.

So essentially if you don't make any mistakes on the bike (so any collisions aren't your fault, third party would be fine (any damage to your bike is covered by the insurance of the person who hits you). If it's you that screws up though, you'd want comprehensive, (so your insurance company stumps up the cash to fix your bike)

The only exception, is if you go third party, and someone who is uninsured hits you (Comprehensive should pay to fix your bike, then your insurers go about claiming costs through the courts)