Higher Insurance rates...

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I would say it has to do with your age, here in Australia once you hit over 25 your rate drops alot!

However if you think that is bad, check this out. I am 27 (had 1 claim, 2013, good driving record in terms of fines)

2012 1199 BASE:
Agreed Value: $28,990
Cost a Year $1,200 (originally it was $950 after my claim went up to $1400 and this year it drop to $1,200)
Excess: $750

I got quotes from every other insurance company here in Australia and All of them where $2,000/year + (with min $1000 excess). the most expensive being like $4000 :O

I put it down to the value of the bike, the fact Ducati are less common and more expensive to fix
 
Monster is $667 / year full coverage. 899 was quoted $2,300 / year full coverage.

Allstate... They have the 899 categorized as a superbike tier 5. The 1198 is tier 3. I challenged it since I don't want to move all my coverage just because of the bike. I should be hearing from them this week as they are reviewing their rating of the bike.

I am 42. Good record. Excellent credit. Multiple vehicle policy... Etc.
 
I guess this is why in big cities I see the really huge buildings with the name of insurance companies on them. They've got to do something with all that money they're raping most you for.

Geico
Central Florida
43 years old, Tier 1 credit
100/300 limits, no med pay
$1,000 deductibles
$697/year

My 2009 R1 was almost twice as much to insure with the same coverages. Geico calculates rates based on the number/amount of claims for that model.
 
Same thing here. I had Riders and it was the cheapest by far, but when my renewal came up this month the Panigale jumped waaaay up. I ditched them and just added my bikes to my Allstate policy where my cages, house and umbrella policy are. They ended up being cheaper with all the multi discounts in the long run anyway. It was a good thing while it lasted, but they don't do these things for no reason. I am sure once the actuarial data came in they realized that too many people were wrecking expensive Ducatis so they adjusted the rate tables accordingly.
 
It is no different in the UK, in as much as you are relatively young and have limited experience on a motorcycle compared to someone, for example who may have been riding a lot longer than you and has lived to tell the tale, clean licence, lives in a low risk area (theft), several years no claims discount etc etc.

I agree in as much as to have charged you a relatively low rate then jack it up, seems a little harsh, but what you are quoting is not a million miles from the sorts of prices you would expect an insurance company here, to charge a young rider on a powerful bike. For that reason, most riders here tend to start on smaller capacity machines then progress on to larger bikes as their age, experience and finances ultimately allow.
 
State Farm 26.00 a month Full Coverage. They are real cheap on the bikes because you have to have a car policy also. But 26.00 dollars a month is great...
 
ok here is my question and its logical. if you have xxxx bike and you paid xxx dollars for insurance and they triple your rates because of a reclassification how do they justify it. same rider same bike.

anyway i have state farm and i pay 900 a year for full coverage. however i dont pay the same bill every month. depending on the month i may pay 140 or i may pay 50 bucks.

i also only have my bike with them. they were 400 more for my car so i left my car with geico.
 
Brickcues said:
You have to watch State Farm as there are no Medical Payments. If you have a wreck and break a leg, you have to pay your own medical bill unless you have other coverage as it is not included with State Farm Motorcycle insurance.
Click to expand...

I'm pretty sure this is the case with all motorcycle insurance in the US. I learned this the hard way when I had Progressive and things went horribly wrong one day...
 
mark419ny said:
ok here is my question and its logical. if you have xxxx bike and you paid xxx dollars for insurance and they triple your rates because of a reclassification how do they justify it. same rider same bike.

anyway i have state farm and i pay 900 a year for full coverage. however i dont pay the same bill every month. depending on the month i may pay 140 or i may pay 50 bucks.

i also only have my bike with them. they were 400 more for my car so i left my car with geico.
Click to expand...

They look at all the losses/claims from all the riders across the board on that type of bike and adjust accordingly. It may not be you claiming stuff, but somebody was...a whole lot of somebodies based on the amount the rates jumped. :)
 
it's actually NY State that does not allow for medical for riders. other states allow. fukd up...


Jello said:
I'm pretty sure this is the case with all motorcycle insurance in the US. I learned this the hard way when I had Progressive and things went horribly wrong one day...
Click to expand...
 
$1267 CDN full coverage for 6 months, this includes 42% discount, cos I have a brilliant driving record. Monopolized govt insurance BC Canada
 
29 w/ clean-ish record, full coverage w/ State Farm = $900/year. I've seen much worse, so I won't complain.

(Calgary, AB)
 
Mine is pretty cheap thru statefarm on my base abs panigale. I have a good record though. Trying to keep it that way.
 
marky mark said:
$1267 CDN full coverage for 6 months, this includes 42% discount, cos I have a brilliant driving record. Monopolized govt insurance BC Canada
Click to expand...

Mine is under $900 for 6 months. (20yr+ no fault, no tickets last 5yrs.)
ICBC, Insurance CORPORATION of British Columbia = executives need raises so costs go up as claims go down. When claims go up, so do the rates. Good racket.
 
GEICO
Queens, New York
36 years old
Renter, 780 credit score
No accidents in 18 years, no tickets in 14 years
Car license 19 years, motorcycle license 9 years
$1,000 Deductible
Full Coverage 2012 BMW S1000RR, 2013 1199 Pani Base
$2,150 a year and I checked EVERYWHERE. (Ducati $1140, BMW $1010)
 
insurance

AAA, 6000miles, several tickets...


$542/year
 

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