Insurance woes

Message

froldt · #1 Unread post by **froldt** » Sat May 13, 2006 4:23 am

No offense to any insurance guys (or gals) out there, but insurance blows! Don't get me wrong, I understand the need for and importance of it, but I don't have to like it.

I found a bike that I like and think I can afford. I've been talking to the guy about it, and decided to check on the insurance.
First, though, some stats. I live in Western Kentucky. I'm 24, single. Nothing on my driving record for the last 5 years. I only have my motorcycle permit at this time, and have not taken a MSF course. I already have car insurance, so this would be an add-on (and thus should get a bit of a discount, multiple-policy something-or-other).
I am looking at an 81 Honda CB650C with about 25,000 miles.

$800 for a year! (Actually $789.) That just seems high.
*sigh* Perhaps my goal of a bike is further off than I thought.

#2 Unread post by **bok** » Sat May 13, 2006 4:32 am

up here the bike license gives you two insurance ratings..a zero which means you have had your full license for 1 year or less...and a 1 which means you have had your full license longer than 1 year.

With a level 1 motorcyle rating with my insurance company my insurance is about 20% less.

basically with no motorcycle experience that they can validate, you get dinged for it. so you kind of need a full license to get that rolling even if you don't actually ride (which is dumb)...the MSF certificate will help in many places to get you a bit of a discount as well since then the insurance company at least knows you aren't going to try and teach yourself to ride on some suicide machine

other factors in many places that work against you
-being male
-under 25
-single

getting married to get better bike insurance isn't that smart, but biting the bullet for a year isn't so bad...maybe ask your insurance company if they have a similar system to the one i described above

ofblong · #3 Unread post by **ofblong** » Sat May 13, 2006 5:07 am

Yup the fact you are under 25 is what is killing you in this situation. however I would suggest shopping around to find the very best price you can possibly get. once you get that quote bring that to your current insurance company and see if they can match or beat that quote. If not go with the other company

.

BigChickenStrips · Sat May 13, 2006 7:17 am

based on the difference in car insurance between my girlfriend and i, a sex change opperation appears to be the best way to get cheaper insurance. i am 21 single and just passed the MSF with full licence and i pay $700+ a year for my 2006 Ninja 250R. i hope it will go down in a year or two.

froldt · #5 Unread post by **froldt** » Sat May 13, 2006 8:41 am

HandsomeRyan, that's exactly what bothers me. I could buy a new (much newer, at least) sportbike, and the insurance will be the same/less for me (based on previous quotes).
I wouldn't mind quite the price so much if I were getting either
a) more than the cheapest insurance available, the barest of liability
b) a newer bike
c) a sport bike (I don't know if there's a difference, insurance-wise, but it seems to me that there should be).

bok,
I will get a discount after I've had the license for a year, and also after taking the MSF course. (Already asked.)

ofblong,
I'm going to spend Monday morning calling all of the insurance companies in the phonebook, and comparing their quotes. Whichever will be cheapest, they win! (after giving the company a chance, although they've annoyed me with me car insurance recently, so they're already 2 marks down...

)

Lion_Lady · #6 Unread post by **Lion_Lady** » Sat May 13, 2006 8:46 am

Given that statistically, you're MOST likely to total the bike, or at least severely damage it, within the first year of being licensed to ride, that's how it is.

You've also got that single, under 25 male thing working against you.

Shop around for the best you can find, but expect it to be pricey, until you've been licensed awhile.

Pam

roscowgo · #7 Unread post by **roscowgo** » Sat May 13, 2006 8:55 am

yep according to the insurance companies, if you're under 25, male, and have the temerity to be single.....

then you're an immoral drunkard who should be stuffed into a barell and fed through the bung for a few years. and furthermore you smell like pigeon farts.

unless you've got the money they want. then your stereotype changes to oh hes a careful respective young fellow. no doubt he has a sideline business of helping little old lady churchgoers across the street.

its just a statistics game. can we get more charging him for what everyone else does, or charging him based on his personal record. they pad this by reserving the right to charge you yet more if you've done something bad. nice little racket.

flynrider · #8 Unread post by **flynrider** » Sat May 13, 2006 9:04 am

Are you getting the same levels of coverage that you have on your car? I've found that the comprehensive/collision coverage on an old bike can be 75% of the premium. It's usually not worth buying for a 25 yr. old Japanese bike.

froldt · #9 Unread post by **froldt** » Sat May 13, 2006 9:12 am

flynrider wrote:Are you getting the same levels of coverage that you have on your car? I've found that the comprehensive/collision coverage on an old bike can be 75% of the premium. It's usually not worth buying for a 25 yr. old Japanese bike.

I shouldn't be, I told her that I only wanted liability. Of course, I'm thinking (hoping) that she might have put comprehensive/collision on there. I would want passenger insurance, but am not too worried about anything else, just yet.

MidSSouth · Sat May 13, 2006 9:18 am

HandsomeRyan wrote:based on the difference in car insurance between my girlfriend and i, a sex change opperation appears to be the best way to get cheaper insurance. i am 21 single and just passed the MSF with full licence and i pay $700+ a year for my 2006 Ninja 250R. i hope it will go down in a year or two.

Just for comparison, I'm 26, single male, and have only been riding since Feb. With a license and MSF my insurance is something like 400/year through Dairyland for for full coverage on a 250R. I would have gone with nationwide since they carry my house, car, and 4 wheeler, but they won't touch it since it says Ninja on the side.

You might have to look at lower CC cruisers to get a feasible insurance quote. Also, don't trust the online quotes, talk to an actual agent.