Insurance: Crashed now paying more!

[naeem]

So, some of you may remember my previous post about my accident, and my current shopping for a new bike, super sport, and so I went and got some quotes for some bikes;

Holy Carp! Unbelievable, can't believe the jump! I'm reconsidering the idea of getting a super sport, and maybe just stick with sport, but 1000 class - that FZ1 is beginning to sounds real good! Gonna also check out some of the other suggestions here;
- Honda CB1000 (Honda CBF1000F)/ Honda Fireblade
- Suzuki b king / Bandit 1200S
- Yamaha FZ1
- Kawasaki Z1000/ Kawa zRX1200

I'm 42, did not have an accident and was paying for the FZ6 = $343/yr
Now after the claim the quotes I've gotten are;

1- 2007 Yamaha FZ6: (if I got same bike -for comparison) = $588/yr
2- 2008 Honda CBR 600 = $1191/yr
3- 2009 Yamaha YZF-R1 + $2004/yr

That's ridiculous! Curious to know what others here are paying for SS or regular sport class bikes? And anyone recommend a provider?

thanks;
naeem

 

[gpostarmy]

Seems about right for Insurance companies. You accident equates to a higher risk for them. Legally speaking in the States they cant raise rates because you got into an accident unless it was found to be your fault. However, they can hide the rate jump behind you getting a different bike. Keep in mind two things; this is simply my understanding of auto insurance, and if I am not correct there is one simple fact, Insurance companies are pure evil.

 

[RJ2112]

Much better to get the quotes, before the bike.

Full plastics make the rates double or triple, even when the motor and chassis are identical.

No Ins Co has a good definition of what is a sport, SS, UJM, Dual Sport as part of their rate quote system.

Were it me, I would look to your current agent, who you carry renters/homeowner's ins with, and look at 'bundling' all of your needs. It's pretty strange how a minor amount of money will often double or triple the amount of coverage you get for your dollar.

 

[Hellgate]

Try Safeco, full coverage for my FZ1 is about $290 a year; 46, married, no accidents, tickets, blah, blah, blah...

My Buell 1125R was about $1,000 a year. Gotta love the FZ series. For what you save in insurance with an FZ1 over a sport bike you can mod the heck out of it and get about 20 more hp out of her. :thumbup: Granted it will never be as light as a sport bike, but it will go and stop with the best of them.

 

[lonesoldier84]

Don't know but I'm stocking up on the lube when the time comes to insure the R1.

 

[stink989]

I'm paying 1700 a year for the fz6 but I'm in Australia and I'm only 19

 

[tjhess74]

there are way too many factors that go into an insurance quote. age, credit, type of bike, engine size, zip code, home ownership, theft rate of bike, replacement cost, driving history, etc. if youre already in an 'iffy' category for whatever reason, then it doesnt take much to upset the rate.

just shop around and maybe hold off on getting the super sport.

 

[VEGASRIDER]

Try Statefarm; they do not go by class, but by cc. All they look at is how big the bike is, they could careless if it's a cruiser or sportbike.

 

[stevesnj]

Seems about right for Insurance companies. You accident equates to a higher risk for them. Legally speaking in the States they cant raise rates because you got into an accident unless it was found to be your fault.

HA! You never had insurance in NJ. Fault or not our insurance goes up.

 

[MoeDog]

i live in California and i pay 73 a month for the FZ6. i am 24 with no tickets, its kinda a lot but the best i could find at my time of purchase. if i was to get the +08 i was looking at over +100

 

[Evitzee]

there are way too many factors that go into an insurance quote. age, credit, type of bike, engine size, zip code, home ownership, theft rate of bike, replacement cost, driving history, etc. if youre already in an 'iffy' category for whatever reason, then it doesnt take much to upset the rate.

just shop around and maybe hold off on getting the super sport.

Agree, there are many factors that go into a quote and rates will vary all over the place. I pay $98 per YEAR on my FZ6 with Progressive (no collision), but that doesn't mean a darn thing for anyone else. Just keep shopping around. You can usually get a deep discount if you have cars, mc, homeowners, and umbrella insurance with the same carrier.

 

[Drinky]

After totalling my fz6 im paying 900 euros per year for my 07 fz1, thats 1200 USD.
(all risk insurance, so anything I do they pay up)

 

[jmagilto]

Holy Smokes - this thread has been an eye opener. I am 45, no accidents, no tickets. Have had St. Farm since I was 17. I live in BFE Georgia (outside ATL) and am paying 640/yr for HD Ultraglide and 525/yr for FZ6.

Methinks I am going to make some calls when I get home!!!!!

Thanks for the thread!

 

[chaskell27]

If there is anything I've learned from insurance companies is that they won't automatically lower your rates as much as they can/should every year. If you keep shopping around you'll always find something cheaper. Point and case:

I recently traded my car in. I was paying $1200 per year on my old car through Geico. This was by far the cheapest when I got the car. When I traded in they wanted the same for the new car. This sounds ok but things had recently changed in my life that help on insurance i.e. turned 25, bought a house, got married, accident came off record, etc. I decided to check other companies. I found that the cheapest was progressive for MORE coverage they quoted $560 per year. My jaw is still bruised from hitting the floor so hard!!! I guess the moral of the story is to keep checking around even if you think you're getting the best rate.

Just FYI I have motorcycle insurance with Progressive. It's not collision but comprehensive so it covers theft or animal or act of god. This coverage is $104 per year.

I have to say that I've had good luck with progressive lately but won't be falling into the trap. I will continue to compare prices with other companies. It sounds like a lot of people on here could be saving a pantload by just looking around and doing a few quick quotes online. Good Luck because who couldn't use a little extra dough to mod the FZ?

 

[naeem]

1- agreed insurance rates depend on MANY many factors - age, state, accidents, bike size, type, crap load of other stuff - but it's still good to hear what others are paying, just to get a "wild" idea of what else is out there

2- yes, shopping around is always a good idea, i do that for my cars, and sure enough it makes a difference

Lastly, you should look into "insurance brokers" - ie. check out some of the others guys besides the typical Big providers. this accident I had I was with SafeCo (in Texas), through an insurance broker - and through the entire claim process, it was a good experience, ie. they paid me and didn't make excuses!

I'll be checking out other providers, if anyone has any brokers they recommend let me know.

 

[naeem]

1- agreed insurance rates depend on MANY many factors - age, state, accidents, bike size, type, crap load of other stuff - but it's still good to hear what others are paying, just to get a "wild" idea of what else is out there

2- yes, shopping around is always a good idea, i do that for my cars, and sure enough it makes a difference

Lastly, you should look into "insurance brokers" - ie. check out some of the others guys besides the typical Big providers. this accident I had I was with SafeCo (in Texas), through an insurance broker - and through the entire claim process, it was a good experience, ie. they paid me and didn't make excuses!

I'll be checking out other providers, if anyone has any brokers they recommend let me know.

 

[Hellgate]

1- agreed insurance rates depend on MANY many factors - age, state, accidents, bike size, type, crap load of other stuff - but it's still good to hear what others are paying, just to get a "wild" idea of what else is out there

2- yes, shopping around is always a good idea, i do that for my cars, and sure enough it makes a difference

Lastly, you should look into "insurance brokers" - ie. check out some of the others guys besides the typical Big providers. this accident I had I was with SafeCo (in Texas), through an insurance broker - and through the entire claim process, it was a good experience, ie. they paid me and didn't make excuses!

I'll be checking out other providers, if anyone has any brokers they recommend let me know.

Give Esurance a call too. They've got very good rates too. Safeco was a cheaper than Esurance after I'd moved both cars, the house and umbrella policy to them.

 

[Tailgate]

"Flo" from Progressive seems to say that her company has really low rates. I love those commercials. I don't know how they can have low rates, however, while airing so many of those "Flo" commercials. One thing for sure, stay away from Geico! They are outrageous with me.

I pay $270 per year for 50/100/50, & comprehensive (no collision) from 21st Century for my FZ6.

 

[Shinn]

Being young (22) and not married, insurance sucks for me. What makes it worse is NO ONE and I mean that, will insure a motorcycle with out a car as well. The only three places I found were state farm and two bank ones (td and someone else). I was quoted $800 from state and over $1300 from the other two. Now paying about $700 a year for full coverage minus collision. All mods are insured too.

Insurance in my city (not sure for other places, never checked) is mostly based on CC's and price of the bike to begin with. I pay less for a 600 race rep then a harley 883, yet the race rep is way faster and crazier. My favourite was the $5000 full coverage on a new hayabusa.