How much do you pay for insurance?

[IMPY03]

I live in Virginia and I pay $48.84 per month for 12 months here is the sepcs on my coverage from Progressive:

Coverage & Premium Information

2007 Yamaha FZ6

BODILY INJURY & PROPERTY DAMAGE LIABILITY $73.00
BI $25,000 EACH PERSON - $50,000 EACH ACCIDENT
PROPERTY DAMAGE LIABILITY - $20,000 EACH ACCIDENT
UNINSURED MOTORISTS $68.00
BI $25,000 EACH PERSON/$50,000 EACH ACCIDENT
PROPERTY DAMAGE $20,000 EACH ACCIDENT
OTHER THAN COLLISION $500 DEDUCTIBLE $90.00
INCLUDES DISAPPEARING DEDUCTIBLE
COLLISION $500 DEDUCTIBLE $391.00
INCLUDES DISAPPEARING DEDUCTIBLE
TOWING & LABOR COSTS $75 PER DISABLEMENT $10.00
MEDICAL EXPENSE - REJECTED


Premium by Vehicle $632.00
Total Policy Premium $632.00

I'm 24 and have a clean driving record as well.

 

[lukaledoux]

My god! I feel bad for you guys up there when 1,214/yr is cheap! I'm mad and I'm not paying even 1/5 of that! (though I wouldn't mind some of that healthcare...)

Yup, if my love of riding weren't as strong, I would definitely not be spending my student budget on this ****. Damn statisticians and their ''numbers''.

 

[VEGASRIDER]

Since I moved to Idaho from Las Vegas, my insurance is around $140 a year for full coverage, which includes an extra bump on the uninsured or under insured motorist coverage up to 100k. Throw that out and it would probably be less. $500 deductible.

I did look into what it would cost to insure a new $25k Ducati Multistrada with the same coverage as my FZ6 and they quoted me about $250 for the entire year. So pretty much an extra $100 for the year for a bike that is worth 9 times what my FZ6 is worth.

 

[VEGASRIDER]

I live in Virginia and I pay $48.84 per month for 12 months here is the sepcs on my coverage from Progressive:

Coverage & Premium Information

2007 Yamaha FZ6

BODILY INJURY & PROPERTY DAMAGE LIABILITY $73.00
BI $25,000 EACH PERSON - $50,000 EACH ACCIDENT
PROPERTY DAMAGE LIABILITY - $20,000 EACH ACCIDENT
UNINSURED MOTORISTS $68.00
BI $25,000 EACH PERSON/$50,000 EACH ACCIDENT
PROPERTY DAMAGE $20,000 EACH ACCIDENT
OTHER THAN COLLISION $500 DEDUCTIBLE $90.00
INCLUDES DISAPPEARING DEDUCTIBLE
COLLISION $500 DEDUCTIBLE $391.00
INCLUDES DISAPPEARING DEDUCTIBLE
TOWING & LABOR COSTS $75 PER DISABLEMENT $10.00
MEDICAL EXPENSE - REJECTED


Premium by Vehicle $632.00
Total Policy Premium $632.00

I'm 24 and have a clean driving record as well.

Take a Motorcycle Safety Refresher Class, and you might get up to 30% off your coverage. Percentage varies by insurance companies.

 

[IMPY03]

Take a Motorcycle Safety Refresher Class, and you might get up to 30% off your coverage. Percentage varies by insurance companies.

I actually just took my initial MSF class last summer and this is the cost of my insurance WITH the MSF discount from progressive.

Are you saying i could take an advanced class and get a bigger discount?

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[VEGASRIDER]

I actually just took my initial MSF class last summer and this is the cost of my insurance WITH the MSF discount from progressive.

Are you saying i could take an advanced class and get a bigger discount?

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No! I suggest you find another insurance company, I think you're paying way too much regardless of your age, record and where you live.

 

[Hellgate]

Currently about $750.00 a year for four bikes.

Full, full, really full coverage: 2012 Aprilia Tuono V4R, 2013 Moto Guzzi Stelvio NTX

Liability only: 1988 Yamaha RZ50, 2007 Suzui GZ250

All bikes: 300/500/100, $250 deductible, and roadside.

Flo...

 

[Hobbesca]

Wow some folks are paying a lot less for insurance than I am.

I currently have to plate my bike in Saskatchewan, a provience that hates motorbikes.

1674.00 premium
$700 deductible
0 accessories coverage

ICBC - British Columbia coverage, $1120 premium.

Yah Canada has medical coverage that is pretty good, kinda pay for it with high insurance though.

That and it is still flipping cold here, I gotta move to Australia pretty sure they don't have snow and freezing cold.

 

[fmf]

less than $75 a year. liability only.

 

[JeffSez59]

less than $75 a year. liability only.

Same. About 90$ for me and I'm 22 and just got my mc license last September.

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[Karate.Snoopy]

Guys & Gals, please consider Medical Payments to be added to your policy.
Med Pay is the only way to get paid if injured on your bike. Med Pay covers things that your health insurance does not- like co-pays, Physical Therapy and prescription drugs. These things could add up to BIG MONEY if you are seriously injured. Even if you break a bone or collar bone, the co-pays are expensive for PT sessions.I carry 5k on all my bike during the riding season & take it off when I park it for winter. I have health insurance but the med-pay coverage guarantees NO out of pocket expenses if I am injured.

 

[Hellgate]

What is the cost per year?

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[VEGASRIDER]

Guys & Gals, please consider Medical Payments to be added to your policy.
Med Pay is the only way to get paid if injured on your bike. Med Pay covers things that your health insurance does not- like co-pays, Physical Therapy and prescription drugs. These things could add up to BIG MONEY if you are seriously injured. Even if you break a bone or collar bone, the co-pays are expensive for PT sessions.I carry 5k on all my bike during the riding season & take it off when I park it for winter. I have health insurance but the med-pay coverage guarantees NO out of pocket expenses if I am injured.

What is Med Pay?

Medical coverage is not offered through certain insurance companies, such as State Farm for motorcycles. Even if it is offered through your insurance company, it may differ from actual cars. Read the fine print! Since State Farm does not cover motorcyclist with medical or a medical option, I did purchase their supplemental Hospital Income Insurance covering from accidental injuries.

There is supplemental insurance that you can purchase, such as AFLAC, which will cover any injuries or illness depending what coverage you have.

 

[iviyth0s]

less than $75 a year. liability only.

Age and company?

Same. About 90$ for me and I'm 22 and just got my mc license last September.

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Which company??

 

[Hellgate]

I have health ins that caps out of pocket at $10k, short & long term disability. They cover me, period. So many of the add on policies can really nickel and dime and no really offer any benefit.

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[1Animal1]

My second year of riding is £220 fully comp with all the trimmings, except leathers cover. I think my 14 year ncb on the car helps - that's only £320 for a 340bhp 535 :thumbup:

I'm 34...

 

[IMPY03]

No! I suggest you find another insurance company, I think you're paying way too much regardless of your age, record and where you live.

10-4 I'll have to do some shopping around then. Thanks!

 

[JeffSez59]

I added myself to my dads policy with Rider Insurance, so there is a slight discount for two bikes. If I was to just get for myself alone I believe 1yr is $150.

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[blackONblack]

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.

All depends on your situation and how much risk you have (and are willing to accept). In my case, I pay $366/yr for comprehensive (no medical). Just getting the minimum required by my state would be $90, so the difference over 5 years is only $1380. Definitely not enough to cover the bike and to me, not worth the risk. My main issue is not wrecking while riding, but rather theft/vandalism/parking lot accidents. I currently keep my bike in a garage attached to my apartment building, and although it's mostly residents that park there, it's open for public parking and security is not great. So not only do I have to worry about some chucklehead knocking it over, but also 3-4 guys could just load it up in their pickup in the middle of the night.

Got a little off topic there. Anyway, like I said, $366/yr for comprehensive, I'm 28, clean driving record, single, took the beginners safety course, and I also put down on my application that I mostly use the bike for leisure/weekends rather than commuting. I'm actually due to renew at the end of next month, so seeing the wide variety in rates in this thread make me want to shop around. Currently have progressive, might get a quote from AllState/Statefarm. I previously had Geico and was paying about the same for liability that I am now for comprehensive, so it definitely pays to shop around.

 

[Dennis121]

i pay 45 euro each month for insuring my fz6 from 2008...
got full coverage on its since the bike is still pretty young!!!

worth every cent when something happens to it....