Motorcycle Insurance Rates???

[Rogue]

I have my own motorcycle and have been riding since I was 19. Back when I was that age and even before I had a car, I was paying about $450/yr. in insurance for full coverage on a 700cc Virago. Now I pay about $80/yr. for liability.

I have a friend who's buying his first bike, a 2000 Honda CBR 600R4. I know it's a lot of bike for a beginner, but he's very safe and very level headed. He's 26 years old and they want over $1000.00/yr. in insurance (full coverage) for the bike. I think that's outrageous. He's willing to pay up to $600/yr. in insurance.

Question is, what do you all pay for your insurance on a similar "racing" bike per year? He's already secured the loan, he's just shopping insurance and getting the screws put to him. Even for me, most places are wanting the same amount of money and I've never wrecked or gotten a ticket on my bike in over 6 years of owning it.

 

[Fausto]

Originally posted by: Rogue
I have my own motorcycle and have been riding since I was 19. Back when I was that age and even before I had a car, I was paying about $450/yr. in insurance for full coverage on a 700cc Virago. Now I pay about $80/yr. for liability.

I have a friend who's buying his first bike, a 2000 Honda CBR 600R4. I know it's a lot of bike for a beginner, but he's very safe and very level headed. He's 26 years old and they want over $1000.00/yr. in insurance (full coverage) for the bike. I think that's outrageous. He's willing to pay up to $600/yr. in insurance.

Question is, what do you all pay for your insurance on a similar "racing" bike per year? He's already secured the loan, he's just shopping insurance and getting the screws put to him. Even for me, most places are wanting the same amount of money and I've never wrecked or gotten a ticket on my bike in over 6 years of owning it.

Does he have a clean record? If so, he should be able to do way better than a grand a year....especially since he's over 25 (generally get a big break in rates beyond that age IIRC). I was paying $350 a year for full coverage on my 1996 Triumph Daytona 900 (me: 31, married, clean record).

Shop around...a lot. See if there's anyone who specializes in bike insurance as they'll be more familiar with what carriers might have good rates. Also, he might get multi-vehicle break if he puts the bike with whoever insures his car (assuming he has one).

Fausto

 

[Rogue]

The only accident he's had in the last 5 years was recently when we had a really bad storm blow through and he was on his way home at about midnight and didn't see a large tree branch that had broken off a tree and was in the middle of the road. Keep in mind, it was still raining pretty heavily and it was very hard to see. That's it. He's changing insurance agencies because they put him at fault as a moving violation rather than just an "accident" type thing.

 

[The Stigenator]

Search Geico, Progressive, McGraw, Universal Underwriters.

I have Geico and I pay about 600/yr for 100/300K coverage.

If he has MSF then it will give him a 10% discount.