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Moto Insurance

WarpSpeed

WarpSpeed

Blur
Joined
Aug 16, 2011
Location
Pleasanton/Dublin
Moto(s)
2003 RC51
So my wife has a couple "rules" for me if I want to ride a motorcycle...

1) Full coverage
2) Life Insurance
3) ATGATT

so my question really lies in the full coverage part... where is the best place for motorcycle insurance especially full coverage? Anyone here have it? How much you pay per month? Yes I know it varies depending on your ride. I'm picking up an 88 Honda hawk next month so its by no means a racer...
 
First, do a search. This topic comes up every week, it seems.

How old are you? Driving record has how many tickets/accidents on it?

Generally speaking, state farm is the cheapest, though it varies from person to person. You have to go in person to get a quote. USAA is apparently awesome if you qualify.

I have two bikes and have full coverage on both. State farm does not give a multiple bike discount. I pay $1000/yr for enormous, awesome coverage on both bikes.
 
For a bike that old, it's probably not work the extra cost for full coverage. Having good liability and uninsured/under insured coverage is most important, as well as health insurance.

Having collision and comp coverage will only cover you for the value of your bike if you get into an at-fault crash or if it's stolen (and some other situations of course), but if the bike isn't worth much then it's probably not worth the extra $$ you'll be paying.
 
Let my old boss at State Farm hook you up.

Call 415-401-7000

Tell them Andrew used to work there and he said that he'll hook you up.:laughing
 
I pay $269/year for full coverage with decent limits for 2 bikes from GEICO.
 
I wouldn't get full coverage on that '88 Honda, it's just too old to be worth anything after you pay a deductible. If you've got a decent driving record get nothing less than 100/300 for both your liability and un/underinsured motorist, shouldn't cost you too much.
 
rritterson said:
First, do a search. This topic comes up every week, it seems.

How old are you? Driving record has how many tickets/accidents on it?

Generally speaking, state farm is the cheapest, though it varies from person to person. You have to go in person to get a quote. USAA is apparently awesome if you qualify.

I have two bikes and have full coverage on both. State farm does not give a multiple bike discount. I pay $1000/yr for enormous, awesome coverage on both bikes.
Click to expand...

im 26, i have at least one speeding ticket on the record still... you guys say not to get full coverage but if it were stolen or hit n run id be screwed outta $2500
 
I pay about 400 a year for full coverage with Progressive. I also have cal star insurance for like 40 bux a year (just in case)

Shop arround and get quotes find out whats good for you.
 
WarpSpeed said:
im 26, i have at least one speeding ticket on the record still... you guys say not to get full coverage but if it were stolen or hit n run id be screwed outta $2500
Click to expand...

Don't forget about the deductable. The higher the deductable the lower the premium.

You just have to get some rates to see how much collision & comp is going to cost, and do the math. How long is it going to take for the full coverage premium + the deductable to = the value of the bike?
 
The industry has gone mad. I hear low rates from one company for one type rider. And the same type rider will get quoted 50% more from the same company. The actuaries are using a Rubik's Cube to deduce rates.

Full coverage is different things to different people. I carry MAXIMUM liability, so my rates are always higher than most folks. Towing, spare car, and riding someone else's bike will also change costs. So, you must compare cube to Rubik cube.
 
I have Markel for liability and comprehensive at $300 a year, but I hear great things about State Farm.

And yes, good medical insurance. Be sure you have it, and be sure the limit is high enough. Medical costs from a major crash could easily balloon to more than the coverage of even the best bike insurance. Medical insurance will save you from financial ruin.
 
I was 25 (and a new rider) when I picked up my 599 late last year. Full-coverage through State Farm made absolutely no sense, considering what I paid for the bike - I paid 4500 for the bike, I was quoted nearly 2200 for 6mos. That's with one speeding ticket on my record, living in a decent neighborhood and garaging the bike. Eff that! I opted for liability, comprehensive and UIM coverage only - 720 for 6mos. Much better.

I've had the bike nearly a year now, my premium should drop soon. You just have to weigh your options and decide if it makes sense or not.
 
Do some foot-work. Get quotes from multiple companies.

The problem is that it's a non-linear scale -- or maybe even just random numbers -- that the insurance companies grade you on for coverage. It seems unlikely to me that any of us will know exactly which company will give you the best quote.

The example I know of from personal experience is that, 4 years ago, McGraw put SV650 in the "Standard" category instead of the "Sport" category, so insurance on an SV650 cost less than on an F4i(600cc). State Farm, on the other hand, said that the 600cc bike costs less to insure than the 650cc bike (600 < displacement than 650). As a result, McGraw gave me better insurance pricing on the SV650 and State Farm gave me better pricing on the F4i.

(And this is just an example with two bikes. Who knows how the price is influenced by age, residence location, history, and multiple-policy-discounts?)
 
FWIW, geico still wants ~$4000 a year to insure my R6. :dunno Make sure you shop around.
 
WarpSpeed said:
im 26, i have at least one speeding ticket on the record still... you guys say not to get full coverage but if it were stolen or hit n run id be screwed outta $2500
Click to expand...

dont leave the keys on the bike

dont park bike out in the open for a week in bad neighborhoods

your bike should be fineeeeeeeeeeee


best part of having an old bike haha
 
rritterson said:
It's so cheap because you're old and fat. :laughing
Click to expand...

I'm old, fat, and I have a clean driving record. :twofinger

Also, I don't own none of them crotch rocket things you young whippersnappers ride. :p
 
OldFatGuy said:
Also, I don't own none of them crotch rocket things you young whippersnappers ride. :p
Click to expand...

Normally a crotch rocket should be much more expensive to insure. I pay $475 year for my 96 DR and $525 a year for my 07 R6, with identical coverages. :dunno
 
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