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Discussion Starter #1
Just curious about insurance cost comparisons. I am a 59 year old male who lives in a rural area north of a midwestern city. My full coverage Strom insurance is $335.16 per year. That's liability, $100 deduct comprehensive, $500 deduct collision and uninsured motorist. Been with the same company since 1970. No multi-car discount because I only own 1 car and 2 bikes. Comments?
 

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I live in Boston, a mid-szed city: similar in size to Denver, Louisville, Milwaukee, Nashville, Oklahoma City, Seattle, etc.

Until this year MA regulated rates: it's just starting to be competitive. I pay around $1,300 per year to USAA - more than our minivan. I take it off the road from November to March to save the cost.
 

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Discussion Starter #4
Geez! After looking at your MA rates, I think I'll go buy my MO insurance agent lunch.
 

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Geez! After looking at your MA rates, I think I'll go buy my MO insurance agent lunch.
The per capita income of MA residents is $13,500 more than that of MO, so many of us will choose to cope. Oceans are kind of scarce in MO.

As we only ride half a year, the out-of-pocket cost is $4-500 a year more. That's in the city of Boston: in the suburbs or outside metro Boston I'm sure it's much less.

If you saw the kind of motorcycle roads we have in New England, you'd pay it, too.

 

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I live in S. E. Connecticut, and have State Farm for all of my vehicles and house. My deductibles are 500 col. and 500 comp with 100/300 coverage and
medical coverage, I pay 331.63 a year. So you guys from Mass. are getting
screwed, I ride the same New England roads you do for a lot less.
 

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$231 is what Progressive just received from me last week for my '07 DL650, for full year full coverage, including the kitchen sink (highest levels for comp. and collision, I think I might even have towing in there). I don't recall my deductibles, but I think I kept them low, like $250 or so. I'm just north of Minneapolis, MN.

I ride close to 8 full months each year, so that breaks down to just under $29 per month. Heck, that's only 2/3 of a tank of gas that I'd burn in my small size SUV.
 

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Oh, yeah, make sure your insurance agent applies any applicable discounts for any kind of rider training classes you do, even experienced classes. And maybe they even have discounts for safety equipment use(???). Hmmm, does such a discount exist? Probably not...
 

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None of you should be complainin about insurance cost. Up here in Canuscistan it is much more costly.

I have a house 2 cars and 2 bikes insured through State Farm... Thus multi line and multi vehicle discounts with a 5star rating.. live in a small village.. and still pay over $800/year per bike for full coverage.
 

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Discussion Starter #12
I've traveled New England roads several times in my life and always wished I could live there. I'm also a history nut, so it would be even sweeter. But I gotta tell you - there's some pretty nice Ozark roads in southern MO and northern Arkansas.
 

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i just insured my new 08 wee. I'm 43 no violations or accidents in over 10 years. I have not had motorcyle insurance in a very long time and the cheapest for full coverage and $500 ded in Harris County (Texas) is $500 for a year.
 

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Thanks for making my smile wider.

My guess is that it's because I only have liability on my bikes.

I use State Farm. I insure a house, two cars and three bikes. I'm 41 and live in Dover, NH.

My DL650k5 & k6 each cost $130.39 for the year for 100/300/100 coverage. Oddly it's really only $71.83, but I have to pay an additional $58.56 for "uninsured motor vehicle".

:party:
 

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There is tremendous difference in different types of coverages. For instance, I had a pretty darn good policy with Geico on my Honda VTX1800....about $300 a year. When I purchased the Strom, that cost went up to $425, because the Strom is considered in the same catagory, by Insurance Companies, as Crotch Rockets.

With 4 teenagers and all that entails.....the wife and I decided to take out an Unbrella Policy, with much higher coverage. What did that mean????? It meant that the annual insurance for my Strom went from $425 to over $900.

I really ticks me off to pay $900 a month for motorcycle insurance, but since riding a motorcycle is such a dangerous sport.....it is the best thing to do for me and my family.
 

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I work in the insurance industry, so I'll chime in with a few things to consider related to insurance.

"Full Coverage"
There is no such thing as full coverage. Insurance is broken into several individual coverages. Each coverage has a myriad of options. Here are the basic coverages and the options available:

BI - Bodily Injury. This coverage pays for injury you cause to others. The options are limits, which will vary from the minimum required by the state up to 1M. These limits are often "split" limits: like 100/300. This means that it will pay up to 100k to an individual, and will limit the amout per accident to 300k. Some states also have limited tort options, but only a few states have this. (some motorcycle policies include guest passenger coverage here too, others require an additional payment)

PD - Property Damage. This coverage pays for damage you cause to other people's property. There are limit options for this coverage as well.

PIP - Personal Injury Protection. This coverage was created to take care of your own bodily injury. It exists in states that have passed some sort of no-fault law...meaning that even if someone else is responsible, your insurer covers your own damages. In these states, BI is an excess coverage, meaning that if the injured person hits a certain threshold, they can move back to tort relief...ie they can now sue you, and your BI coverage will cover the damages. PIP has all kinds of options, but most of them are limit related.

Med - Medical Payments. This coverage pays for immediate medical injuries to those involved at the scene. This could be you or someone else. If the injuries are too great, it will transfer to your health insurance coverage, or your BI coverage. Again, limits are the available option. If you have PIP, you will not get Med as an optional coverage as its included in PIP. If you have Med, PIP is likely not an option.

Collision - Covers damage to your bike in the event of a crash. Deductible options are available. There are also options like Gap coverage (to cover the difference between your bike's value and your loan amount). In autos there are new car replacement options, but I'm not sure if this is available with motorcycles.

Comprehensive - Covers damage to your bike in the event of an "act of God." Essentially this means damage to your bike when you aren't riding it, or damage caused by a collision with an animal. Again, options are deductible, gap coverage and potentially replacement options.

Additional Equipment - This varies by company. Some include a base amount in the policy, others require you to purchase specific coverage. Be sure you know that your farkles are covered under the base policy before turning down this coverage.

Towing - Most simply offer reimbursement. I believe some offer services.

Now that we are done with that, lets talk about cycle types. Each company determines which group to put cycles into. Companies can be as simple as no groups (State Farm), Some groups (super bikes, standard, touring bikes, Harleys), or very segmented (Super bikes, sport bikes, sport touring bikes, touring bikes, standard, etc.) In addition to all the other things that a company considers, this will vary by company. Expect to see considerable swing from company to company. Remember, the people who put these bikes into categories often do not ride, so they rely on the folks at the Highway Loss Data Institute to help them out with categories. What this means to us, is that when the bike is reviewed, the process is: 60 HP, fairing=sport bike.

Now, when you go out shopping, be sure that all the limits and coverages are the same, and that your additional equipment is covered if you so desire. You will now be better prepared to make comparisons from one company to the next. Happy shopping.

Oh, and my 100/300/100 with $500 deductibles runs right around $200 per year for the DL650.
 

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I'm right at about $330/yr and it's with progressive. I haven't been able to beat their rates for years. The only surprise I got was when I changed bikes a month ago from a M109R to the 650 V-Strom my premium went up about $35/yr. When I inquired how it could increase when going from a 112 H.P. cruiser to a 60 H.P. on/off RD all they could say is that there were probably more claims on the smaller bike. I'm not sure I buy that but I checked a couple other companies and found the same thing. Interesting though that the Kawasaki Versys was fifty bucks cheaper than the V-Strom.
 

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From what I've seen here I think I must have a pretty good deal from Progressive.
Liability: 250,000 each person/500,000 each accident
Property Damage Liability: 100,000 each accident
Uninsured BI: 250,000 person/ 500,000 each accident
Uninsured PD: 100,000 each accident
Medical coverage: 0
Comprehensive deductible: $500
Collision deductible: $500

Annual premium: $124

Wife's bike comes in at: $107

Of course I have a total of 2 bikes and 2 ATVs on this policy so I'm sure there's a discount for that. Plus they give a discount for being a home owner.

I was going to cancel the ATV coverage, but after reading this thread a $397 total annual premium for 4 bikes doesn't seem all that bad.
 

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None of you should be complainin about insurance cost. Up here in Canuscistan it is much more costly.

I have a house 2 cars and 2 bikes insured through State Farm... Thus multi line and multi vehicle discounts with a 5star rating.. live in a small village.. and still pay over $800/year per bike for full coverage.
And if you slide that quote over to the west coast... it's around $1600/year... I'm paying $1900 since I didn't qualify for the full discount due to relocating from Alberta eight years ago...

And that's for a WeeStrom! I don't want to figure out how much that would have been for a Vee...
 
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