Motorcycle Insurance - What do you pay per year?

Message

Fri Jun 03, 2005 9:14 am

Many motorcyclists out there are courious how their insurance rates differ.

What do you pay per year for your MAIN motorcycle?

Feel free to go into as much detail as you like about what you pay per year to help other bikers understand motorcycle insurance costs.

Mike.

HypeDOG · #2 Unread post by **HypeDOG** » Fri Jun 03, 2005 9:44 am

Less than $100 a year, but hey... it's an 82. It's also covered only for liability, but again... it's an 82.

Fri Jun 03, 2005 10:17 am

I pay $120 ($94 USD) a year (just went down from $162) for my 1982 Yamaha XJ650R Seca with 1 million liability only.

For those courious, Jevco was $162 and Wawanessa is $120 for me.

Like HypeDOG, I figure it's an 82, so no point in putting full coverage on it as it just isn't worth it.

Mike.

#4 Unread post by **Sev** » Fri Jun 03, 2005 10:59 am

I only insure a bike so it costs me a lot more to start with.

I have 1/2 million in liability and fire/theft/hail insurance on my bike. Bike is worth about $9k.

I'm paying $608 for the year, but only 168 of that is for liability.

If I had comprehensive coverage it'd be more like $2000

Gadjet · #5 Unread post by **Gadjet** » Fri Jun 03, 2005 1:17 pm

When I had comprehensive on my bike (last year), I was paying $280C a year.

with straight liability, I think I'm down to ~$140C a year.

Telesque · #6 Unread post by **Telesque** » Fri Jun 03, 2005 11:16 pm

I'm paying $280 USD for comp, collison, medical- well, just 'full coverage'. The deductible for comp/coll is $250, so that helps keep it down a little. It's insured as an all-the-time rider and is my first year
After I take a MSF-type course and get a decent theft-deterant system, I'm hoping to get it dropped a few more bucks.

I'm 21 with no moving violations in the last three years.

Gummiente · #7 Unread post by **Gummiente** » Sat Jun 04, 2005 1:44 am

Kind of hard for someone to get an accurate idea of what an average insurance cost would be because there are many factors that can affect the rate - type of bike, make of bike, engine size, age and gender of the rider, rider training (ie: CSC or MSF course), area lived in, etc.

I pay $1,100 per year for full coverage on my '04 1540cc Harley touring bike. That is a VERY low rate for my neck of the woods; I know of people with similar rides who are shelling out 30-40% more.

My '79 Dnepr MT10-36 650cc sidecar combo costs me a King's ransom of $216 per year with basic coverage (PL & PD) only. Not much point in putting comprehensive and theft on it... I could leave it out in the parking lot of a shopping mall with the key in the ignition and a full tank of gas and it would still be there when I return hours later.

gregor7777 · Sat Jun 04, 2005 2:24 am

Let's see...25 years old, only bike insured, 2005 Yamaha V-Star Classic, owned, only liability (lowest possible), no accidents or citations, $109.00 p/year.

EDIT: Progressive

iav8 · #9 Unread post by **iav8** » Sat Jun 04, 2005 3:10 am

I've been checking out on-line insurance quotes to make sure the bike we get will fit into our budget. With any "old" 500cc bike the on-line quotes came between $500 and $800 (no collision but with theft). Keep in mind that this is for two riders who are both on "beginner's" licenses.

Is the on-line rate a realistic estimate, or will it likely be less given that I have two cars and a home with the same insurer?

How much will the cost go down after going to from a beginner license to a full licence?

Telesque · #10 Unread post by **Telesque** » Sat Jun 04, 2005 7:00 pm

iav8 wrote:I've been checking out on-line insurance quotes to make sure the bike we get will fit into our budget. With any "old" 500cc bike the on-line quotes came between $500 and $800 (no collision but with theft). Keep in mind that this is for two riders who are both on "beginner's" licenses.

Is the on-line rate a realistic estimate, or will it likely be less given that I have two cars and a home with the same insurer?

How much will the cost go down after going to from a beginner license to a full licence?

You should always at least call up the company and ask.

I got quoted at ~$290 for 6 months, which wasn't the best deal I could find, but when I called them, they told me that they had just revised their policy, and that I could get a 12 month policy for the same exact price.