How much do you pay for insurance?

[fb40dash5]

What is collision and why is it extra?

Sent from my HTC Desire S

Collision covers your bike if you wreck it and it's your fault. Comprehensive covers anything else that may happen to it, like theft or a tree falling on it.

I figure the odds of an insurance company covering a sporty bike for, say, 5 years, and NOT having to pay out a collision or comp claim are pretty bad in a lot of areas in the states. Doesn't take much real damage to total most bikes, so the coverage is relatively expensive. My parents have a Honda scooter that was $100 or so from totaled out just off fairing damage from a low-speed laydown.

 

[windsor]

With country wide in WI, I am paying $198 a year, full coverage 300/500/500 limits, $500 dedct. Clean driving record (at least it was until september), 32, married, homeowner and good credit. For those that have the option of roadside assistance, I highly recommend it. I have used it several times in the last few years and has saved me a ton of $$.

 

[oaks]

What is collision and why is it extra?

Collision covers your bike if you wreck it and it's your fault. Comprehensive covers anything else that may happen to it, like theft or a tree falling on it.

Typically US states only mandate liability insurance for bodily injury or property damage to others. However, if your vehicle was purchased with a loan, the lien holder may require collision and comprehensive coverage to protect their bike.

More US terms explained here:

Types of Auto Insurance Coverage - State Farm

$310 per year for full coverage and a high deductible (excess) with State Farm for me.

 

[chunkygoat]

I pay 164$ a year for minimum coverage with 10,000$ medical. I took the basic and advanced rider courses through the state, which I'm sure helps.

But figure if you want comprehensive, or any other features added, lets say you would pay maybe 1,000$ a year. Compared to the 200$ a year you could pay (rounding up), you would be saving 800$ a year by having minimum coverage with some medical. If your bike is worth say 4,000$ - at 800$ a year, it would take you 5 years to save the 4,000$ worth of your bike.

Now your money is in your pocket to do with what you choose. You can make money with that money by investing, or save it in case of an emergency.

So, for me - I have filed 0 claims in 3 years, which means I have saved roughly $2,400 by having minimal coverage. This is how I choose to do it and it works well for me, considering my safe riding/driving habits. Having full insurance (other than for loan qualifications) is only worth what you get out of it. If you use it often, buy it. If you never file claims and are a truely safe rider (and only you really know), save yourself some money.

 

[ChevyFazer]

From what im seeing everyones insurance rates seem reasonable, so im kinda puzzled why people post comments on videos of crazy riding and what have you like "yup make sure you tell him thanks for my insurance rates being sky high" or "prime example of why us bikers pay a ridiculous amount for insurance" .... i know comments like that are geared towards other meanings but obviously they wouldnt have said something like that unless their rates were sky high

Sent from my R800x using Tapatalk

 

[lowell]

I just insured the bike last week. Cost about $175 a year for full coverage with $250 deductibles. I am 28/married with clean driving record.

Who is your provider?

Thanks,
Lowell

 

[lowell]

I have Progressive. Full coverage...comprehensive, collision, liability

50k per person, 100K per occurrence, 25K property damage

$100 deductible

$400/year

I'm 44, married with a pretty clean driving record. Pretty clean as in I've gotten a couple tickets but I did traffic school to erase the points.

I think I'll call Allstate and Statefarm to see if they can beat my current rate. From everyones posts, it seems like it's worth shopping.

Lowell

 

[wrlomas]

343$ per year full coverage with 100 deductible. 49, never had a claim and good credit.

 

[FZ09Bandit]

Start off, I have 20+ points on my record all cage tickets but for my fizzy and carolla full coverage is 116$ a month 500 deductable with direct general. Funny story it was 134$then I put my eclipse gsx on it moved up to 149$ then I blew a rod and took the eclipse off and it went down twenty dollars Haha I love direct

 

[LVNeptune]

$848/yr progressive



BODILY INJURY & PROPERTY DAMAGE LIABILITY

$83.00 BI $15,000 EACH PERSON - $30,000 EACH ACCIDENT





PROPERTY DAMAGE LIABILITY - $10,000 EACH ACCIDENT





UNINSURED/UNDERINSURED MOTORIST

$183.00 $15,000 EACH PERSON - $30,000 EACH ACCIDENT





COMPREHENSIVE $100 DEDUCTIBLE
$104.00



COLLISION $250 DEDUCTIBLE
$463.00



ACCESSORY COVERAGE $3,000

INCL



ROADSIDE ASSISTANCE WITH TRIP INTERRUPTION
$15.00 $500 EACH OCCURRENCE
MEDICAL PAYMENTS - REJECTED

First year rider, been driving for about 5 years. And I'm 23 going on 24

 

[Grainbelt]

192 per year. Full coverage with 250 deductible and 100/300 limits, 30 with a clean record in 55405.

State Farm is basically displacement based, so the 599cc FZ6 ends up being pretty damn cheap.

 

[2006_FZ6]

Allstate - one FZ6 and one Vino 125 - $226 per year for both includes Uninsured Motorists on both

100/300 Bodily Injury
5000 Medical Payments
50,000 Prop Damage
1000 additional equipment
Actual Cash Value - Collision $500 deductible
Actual Cash Value - Comprehensive $500 deductible

 

[Tailgate]

Some of these Progressive premiums sure sound low/suspicious. What you guys doing, boinking Flo? I pay $200 every 6 mos for just liability & comprehensive through Foremost (at least the name fits). I need to find something better.

 

[Caesar]

Some of these Progressive premiums sure sound low/suspicious. What you guys doing, boinking Flo? I pay $200 every 6 mos for just liability & comprehensive through Foremost (at least the name fits). I need to find something better.

I wish I was boinking Flo.... I pay 202/year with progressive for full coverage.

 

[DMP84]

I have Rider insurance, it's only available in Delaware, Indiana, Maryland, New Jersey, Ohio, Pennsylvania and West Virginia. I pay $168 a year for full coverage $500 deductible, with road side assistance, they will deliver fuel if needed, just pay for fuel, and will tow up to 35 miles. By far the best one I came across. Used to have Progressive and was paying $178 for liability only.

 

[edgeofnj]

I am 34, married, homeowner, BRC with a clean driving record. With Progressive, I pay $221/year. Here's my breakdown:

Bodily Injury & Property Damage: $100k person/$300k accident/$50k property damage
Uninsured/ Underinsured Motorist Bodily Injury: $100k person/$300k accident
Pedestrian Personal Injury Protection: $250k (with $250 ded and 20% co-pay)
Medical Payments: No coverage
Transport Trailer: No coverage
Physical Damage Options: Actual Cash Value
Comprehensive: $500 deductible
Collision: $500 deductible
Uninsured/ Underinsured Motorist Property Damage: $50k (with $500 deductible)
Roadside Assistance: Selected
Accessory coverage: $3k (Included)

It seems most of you opt for a lower deductible. I wasn't sure how much coverage to get so any feedback would be welcome. Thanks!

 

[lowell]

Something interesting and possibly worth you guys looking into. I just upped my coverage amounts significantly and it only raised my premium $36/year. Now I have...

250K/person - 500K/incident - 100K/property damage

that's up from...

50k/person, 100K/incident, 25K property damage

It doesn't take much an injury to run up a crazy hospital bill. 25K/per person is nothing if you accidental hit someone and send them to the hospital. Something to consider.

Hope it helps.

Lowell

I have Progressive. Full coverage...comprehensive, collision, liability

50k per person, 100K per occurrence, 25K property damage

$100 deductible

$400/year

I'm 44, married with a pretty clean driving record. Pretty clean as in I've gotten a couple tickets but I did traffic school to erase the points.

I think I'll call Allstate and Statefarm to see if they can beat my current rate. From everyones posts, it seems like it's worth shopping.

Lowell

 

[CBallman]

I pay about $700, I'm 20 with a spotless driving record which is strange for how fast I go :rockon:

 

[Nelly]

You just tempted fate LOL

Sent from my HTC Desire S

 

[Evitzee]

Some of these Progressive premiums sure sound low/suspicious. What you guys doing, boinking Flo? I pay $200 every 6 mos for just liability & comprehensive through Foremost (at least the name fits). I need to find something better.

Progressive is very competitive ..... I pay $116/yr for full coverage on my FZ1, squeaky clean driving record, 800 FICO score. Bundling all insurance with Progressive; cars, bike, house and umbrella policies gives you huge discount.

And Stephanie Courtney, aka Flo? She can come to my house anytime to discuss my coverage......