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Old 08-01-2003, 09:37 AM   #11
TatdNPrcd
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Default Re: Insurance Rates Question

I would say maybe *this* bike isn't for you.



Shop around as suggested but price some different bikes as well. Insurance cost must be considered when deciding on a bike purchase. Find the one you can afford as well as still enjoy.
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Old 08-01-2003, 09:49 AM   #12
sarnali
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Default Re: Insurance Rates Question

They let you off easy seruzawa, because they figure your bike won't stay running long enough to put any kind of miles on it

I'm 45, no tickies or accidents and I pay $400 a year for my 1200 Triumph, about the same as I payed for my 1200 Suzuki.

My state farm agent told me they rate on engine size, being over 28, multiple vehicales and driving record.

If you finance the bike you'll need comp and collision, you might try a smaller displacement bike or having your car and homeowners or renters insurance through the same company, that will get some discounts going for you.

If you've got a crappy driving record you might have to settle for an older used bike.
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Old 08-01-2003, 09:56 AM   #13
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Default Re: Insurance Rates Question

Location is a good point that I missed, State Farm just did a general rate increase on the whole Puget Sound area. Even though I live in the boonies I get slammed for "geographical area" on my car, truck and bike.
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Old 08-01-2003, 10:00 AM   #14
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Default Re: Insurance Rates Question

I'm 38, married, no tickets and I pay $25/mo. for full coverage on a 2001 VFR to State Farm. I also insure my cars and house with them so that's probably a factor too. I have received slightly cheaper quotes from other companies, but I stick with State Farm because they are extremely easy to deal with if you have a claim.



I've had my parked bike hit/knocked over twice in parking lots. That's why I carry full coverage.
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Old 08-01-2003, 10:09 AM   #15
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Default Re: Insurance Rates Question

I learned that one from moving within the Chicago area. Certain zip codes are labeled "high risk" and you get a 25% premium increase for living there.
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Old 08-01-2003, 10:21 AM   #16
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Default Re: Insurance Rates Question

Where you live is also a huge factor. In New York City, my XL1200s costs me about $130 a month for full coverage, 25k/100k per accident limit and $500 deductible. In Virgina, the same bike and coverage used to cost $30 a month. I have never gotten a moving violation. Also, when I was paying VA rates, I was under 30. Now I'm 30, so get the rate break. If I were 29, the New Yrok policy would jump to $165 a month, with the same coverage.



Why? New York has a high rate of claims due to the crowded roads, crazy drivers, potholes big enough to tip you, etc. NYC and NJ also have some of the highest rates of insurance fraud in the country. This means that regardless of how safely I drive, the external factors in NY mean I am more likely to make a claim here than I would in VA. And, in fact my experience has been this is accurate. In my first 6 months in NY, my bike was knocked over twice (once into a parked car, breaking the steering lock, ignition module, bending the bars, and smashing my windscreen), some drunk idiot broke my windscreen for fun, someone set it on fire, and someone took a hammer to the gastank. For all of these incidents, it was parked. I only made a claim for the fire. And this is in a good neighborhood, too (83rd and 1st for those of you who know the City).



Had I made claims for all of these, the insurance company would have paid for the value of the bike several times over, and would have lost big money over the premium I paid.



Compare this to zero incidents in the 10 years of motorcycling prior to my moving to NY.



So, despite being a safe driver, responsible, etc., premiums reflect much more than your driving record.
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Old 08-01-2003, 10:44 AM   #17
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Default Re: Insurance Rates Question

I SELL MOTORCYCLE INSURANCE FOR A LIVING. MY ENTIRE LIVING IS BASED ON SELLING M/C INS, PERIOD..



Don't listen to any of the crap you hear from friends that pay low rates. The fact of the matter is, if you choose to pay for comp/coll coverage it's going to cost you. Yes, State Farm has attractive rates, but there is a catch. First, you must put your auto with them in the very least. Second, anything over 1000cc and they are suddenly not so competitive. Third, you can't have ANY violations on your mvr, at all. There are companies out there that are re-adjusting there rating systems to reflect the fact that the ZZR is targeted to the sport touring market but don't expect immediate results. Every state has an insurance commissioner and the commissioner's office must support rate changes in their states in order for rates to raise or lower. If you can find a company that sells comp (theft/fire) without collision and you're comfortable with that then you will save money. If your lien holder will allow it raise your deductibles or carry only comp, you're fine. As, for the MRON that has Dairyland Ins. He's been with them long enough that rates are fine but DL over the last 18mos has re-rate the entire country so the low, low prices from DL are no more. Also effecting rates are dummies (usually between 18-24yrs old) that screw up thing for all of us and if you live in major metro areas where theft rates are high. So, bottom line is that you need to go to priceline.com (markel ins), my site acecycleins.com (if I cover your state) or find the bike shop in your town that has the highest volume of sales business and see who they use for their insurance needs.



By the way, you never gave your age or location so it's hard to tell how badly your being taken.
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Old 08-01-2003, 11:37 AM   #18
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Default Re: Insurance Rates Question

If yer buying a new Kawasaki and need financing, check out getting the Kawi Good Times credit card ... I just bought a ZX-6R and got a good chunk of the bike price 'financed' on it at 3.9%. You need to pay it off in 2 years (and not miss a payment, I'm guessing) or else get boned on a jacked up rate, but the big plus is no requirement for carrying collision.

Just for slits and grins, here's my insurance story ... Austin, TX / 33 / one claim / one ticket (4 yrs ago), got insurance thru Bikeline for about $400 for liability + comp w/$250 deductible. Throw in collision, and it was going to be $1000 w/$250 deductible.
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Old 08-01-2003, 11:48 AM   #19
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I'll bet he can run the 40 yard dash like a mutha though and I hear his wife likes to run around in tube tops.
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Old 08-01-2003, 11:51 AM   #20
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Sarnali must be living in KPaul's zipcode then.
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