How much are you paying for Insurance?

[Kawasabi]

2 benjamins & change for 12 months, full coverage, statefarm, just like an old neighbor!

[adri99an]

What do you guys pay for Motorcycle insurance on your Ninjas?

Me--

Geico = $115 for the year
Coverages Limits / Deductibles 2008
KAWASAKi EX250-J NI

Bodily Injury Liability $15,000/$30,000 Non Deductible= $23.00

Property Damage Liability $10,000 Non Deductible= $10.00

Uninsured Motorist & Underinsured Motorist= $15,000/$30,000 Non Deductible $42.00

Comprehensive $250 Ded.= $25.00

Uninsured Motorist Property Damage $3,500 Non Deductible = $15.00

Trying to figure out if this is too much insurance, not enough or just right....

Any thoughts??

[Alex]

Limits seem quite low; 15k/30k won't cover much of anything before it runs out and your own assets are on the line. Get a quote with 100k/300k or 250k/500k; it may turn out to be less than you think.

[laraider]

im in Ca too, and i have geico too.

Bodily Injury Liability $300,000/$300,000 Non Deductible= $50.00

Property Damage Liability $100,000 Non Deductible= $15.00

Motorcycle Medical Payments $2000=$43.00

Uninsured Motorist & Underinsured Motorist= $100,000/$300,000 Non Deductible $92.00

Uninsured Motorists Property Damage $3500 = $20

Comprehensive $50 Ded.= $37.00

Total $257 / year

[binlagin]

I could only dream if insurance was that cheap in Canada....

[Zombiphone]

I'm also in Ca, but I have Progressive. My insurance was once about that cheap when I had a 2005 250 with no comp or collision, but now that I have my '09 I'm paying:

Bodily injury and Property damage liability - $187.00
(Bodily injury- $15,000 per person/$30,000 per accident)
(Property Damage Liability- $10,000 per accident)

Uninsured/under insured motorists - $83.00
($15,000 per person/ $30,000 per accident)

Uninsured Motorist Property Damage $3,500 - $5.00

Comprehensive $250 Deductible - $300.00
(Accessory Coverage $3,000 included)

Roadside Assistance - $6.00

Total - $581.00 a year

I do, however, live in an only okay area of Los Angeles, am under 25, and have a ticket on my record (which is almost hitting its 3 year mark actually, so that shouldn't matter for much longer ) all of which I know are factored into the price I pay. I get a discount since I also have car insurance through them though, and everyone else I checked was quoting me higher, so I don't feel too bad about it.

[Betlog]

I noticed that none of you guys have Collision? Is that the general rule for motorcycles?

[rattracing]

For those posting your rates, would you mind posting your age too? Or at least age range? Reason I ask is because I am trying to work out my budget for getting a ninjette, which requires insurance. Me being a young male adult makes me think ridiculous rates.

[kevlarorc]

In Texas, age 19, first vehicle
bodily injury / liability 25,000/50,000
property damage liability 50,000
comprehensive ded 500
Optional Equip $1000
Yearly $461

I did it through allstate partly because they had the best rate I could find and also I had been under them when I was on my dad's insurance. My trick was to find an agent who is not paid on commission. In this instance she's a supervisor of some sort so she did her best to find every money-saving deal she could for me and my dad.

[gizmogamez]

Originally Posted by binlagin

I could only dream if insurance was that cheap in Canada....

the rates seem nice, but, my ninja is $600/yr and I have 2 million liability. 100k or even 300k isn't much if you get hurt bad, or hurt someone else bad.
However it does seem a little redundant since we wouldn't pay for most of our care if we got hurt anyways. When I crashed at the track it was xrays, 2 CT's and a cast later and I paid for nothing.
The cost would come in if I had to do physio, but I'm covered through work for that (company pays for it not me) so again the high amount seems a little crazy.
We can thank the jerks who milk the system and stay off work for 6 months because they got a little bump for the high rates.

[laraider]

Originally Posted by gizmogamez

the rates seem nice, but, my ninja is $600/yr and I have 2 million liability. 100k or even 300k isn't much if you get hurt bad, or hurt someone else bad.
However it does seem a little redundant since we wouldn't pay for most of our care if we got hurt anyways. When I crashed at the track it was xrays, 2 CT's and a cast later and I paid for nothing.
The cost would come in if I had to do physio, but I'm covered through work for that (company pays for it not me) so again the high amount seems a little crazy.
We can thank the jerks who milk the system and stay off work for 6 months because they got a little bump for the high rates.

2m in liability? I wasn't even given that option, i just got the highest possible which is 300k/300k.

[gizmogamez]

Originally Posted by laraider

2m in liability? I wasn't even given that option, i just got the highest possible which is 300k/300k.

yea, 1m is automatic, most companies have moved to 2m. you can ask for less but most won't do it.
Ontario has the highest insurance rates in the country, but studies also show that for a given injury we also have the highest cost associated with it because where "down time" might be 6 weeks in another province and cost $50k, in Ontario the same injury takes 8 weeks of "down time and $100k...

[ASecretNinja]

Originally Posted by n00br1d3r

I noticed that none of you guys have Collision? Is that the general rule for motorcycles?

My rule is that if I'm stupid enough to dump my bike, then my self-imposed punishment is to pay to repair it myself. Besides, these things are so inexpensive that you're likely to get an insurance adjuster to come out and say "oh it fell over and you bent your shift lever?, it's totaled" or some bullshit like that.

Originally Posted by Alex

Limits seem quite low; 15k/30k won't cover much of anything before it runs out and your own assets are on the line. Get a quote with 100k/300k or 250k/500k; it may turn out to be less than you think.

This was my thinking when I got my coverage, which is 15/30k: How much damage can I *REALLY* do with my 300 pound motorcycle against a 4000 pound cager? Unless you're riding around with armed missles on your bike, I don't see how you could possibly do that kind of damage to someone. No brainer for me. Insurance companies are rich enough, I'm not gonna help them get richer. I carry the minimum insurance required by the People's Republic of California, plus comprehensive in case it is stolen.

I have private health insurance, I'm not paying for more from my insurance company.

My coverage through Progressive:
BIL/PDL $15&30k/10k

Comprehensive w/ $100 deductible
$3,000 Accesory coverage (included)

Sub total: $293
MSF discount -50$

Total for 1 year $243. I have had my M1 endorsement for less than one year. I am 27 years old, but got my policy when I was 26 (been driving since I was 16) with a perfect driving record.

[ASecretNinja]

Originally Posted by adri99an

What do you guys pay for Motorcycle insurance on your Ninjas?

Me--

Geico = $115 for the year
Coverages Limits / Deductibles 2008
KAWASAKi EX250-J NI

Bodily Injury Liability $15,000/$30,000 Non Deductible= $23.00

Property Damage Liability $10,000 Non Deductible= $10.00

Uninsured Motorist & Underinsured Motorist= $15,000/$30,000 Non Deductible $42.00

Comprehensive $250 Ded.= $25.00

Uninsured Motorist Property Damage $3,500 Non Deductible = $15.00

Trying to figure out if this is too much insurance, not enough or just right....

Any thoughts??

My thoughts are that rate is f'ing amazing. But I'd drop all that uninsured motorist bullshit. They really expect us to pay for someone who doesn't get insurance? Forget that. Take their ass to court.

[Alex]

Originally Posted by ASecretNinja

This was my thinking when I got my coverage, which is 15/30k: How much damage can I *REALLY* do with my 300 pound motorcycle against a 4000 pound cager? Unless you're riding around with armed missles on your bike, I don't see how you could possibly do that kind of damage to someone. No brainer for me.

3 points -

1. It's not what damage you think you can do to a 4000 pound hunk of steel. If you graze it and the driver steers it right into a solid object, another car, a falling asteroid, etc, and you are found partially at fault, bad things start happening quickly. If you accidentally hit a pedestrian and cause injury, suddenly a few hundred pounds of plastic and metal seem more significant. You don't have to steer into them either, what if you put it on the ground for other reasons and it slides into either a car (which causes an accident) or an individual? All of these are conceivable ways that lawyers from the other party will come after you and your motorcycle insurance with everything they have.

2. If you don't have any assets to protect, then spending large dollars on insurance with higher limits than you need can be wasteful. If you get hit with a judgement for 100k and your net worth is a heck of alot less than that, odds are one would be forced to file for bankruptcy anyway to dismiss much of that debt.

3. But if you have any assets (i.e. net worth that would be a real pain in the ass to build back up again), carrying appropriate insurance coverage to help protect those assets makes a whole bunch of sense. And the good news is that upping the coverage limits to many multiples of the minimum, has much less effect on premiums than one might think. It's worth asking the agent the followup question about how much the premiums are for different coverage limits over and above the minimum.

Originally Posted by ASecretNinja

But I'd drop all that uninsured motorist bullshit. They really expect us to pay for someone who doesn't get insurance? Forget that. Take their ass to court.

It's not about covering them at all, it's about covering yourself. In California all of that UM/UIM is for the medical side to cover yourself in case the other party doesn't have any, or enough, insurance to compensate you for your injuries. If you happen to get pegged by someone without insurance, what is the likelihood that suing them will return any benefit at all? That said, if someone already has top-notch health insurance on their own that they are confident would handle their needs no matter what happens, then perhaps paying for UM/UIM isn't buying you much. If you don't live in CA, check into your own state's insurance laws. UM/UIM is handled differently by state, and can in fact be applicable to more than medical needs elsewhere.

EDIT: It looks like Geico is giving the OP a separate quote for UM/UIM for the bike itself. AFAIK that's rare in CA. Whether it makes sense or not is debatable. $15 isn't much, but perhaps that's $15 that's just not necessary to spend.

[Betlog]

Good feedback Alex. What are your thoughts on Collision coverage?

Originally Posted by Alex

3 points -

1. It's not what damage you think you can do to a 4000 pound hunk of steel. If you graze it and the driver steers it right into a solid object, another car, a falling asteroid, etc, and you are found partially at fault, bad things start happening quickly. If you accidentally hit a pedestrian and cause injury, suddenly a few hundred pounds of plastic and metal seem more significant. You don't have to steer into them either, what if you put it on the ground for other reasons and it slides into either a car (which causes an accident) or an individual? All of these are conceivable ways that lawyers from the other party will come after you and your motorcycle insurance with everything they have.

2. If you don't have any assets to protect, then spending large dollars on insurance with higher limits than you need can be wasteful. If you get hit with a judgement for 100k and your net worth is a heck of alot less than that, odds are one would be forced to file for bankruptcy anyway to dismiss much of that debt.

3. But if you have any assets (i.e. net worth that would be a real pain in the ass to build back up again), carrying appropriate insurance coverage to help protect those assets makes a whole bunch of sense. And the good news is that upping the coverage limits to many multiples of the minimum, has much less effect on premiums than one might think. It's worth asking the agent the followup question about how much the premiums are for different coverage limits over and above the minimum.



It's not about covering them at all, it's about covering yourself. In California all of that UM/UIM is for the medical side to cover yourself in case the other party doesn't have any, or enough, insurance to compensate you for your injuries. If you happen to get pegged by someone without insurance, what is the likelihood that suing them will return any benefit at all? That said, if someone already has top-notch health insurance on their own that they are confident would handle their needs no matter what happens, then perhaps paying for UM/UIM isn't buying you much. If you don't live in CA, check into your own state's insurance laws. UM/UIM is handled differently by state, and can in fact be applicable to more than medical needs elsewhere.

EDIT: It looks like Geico is giving the OP a separate quote for UM/UIM for the bike itself. AFAIK that's rare in CA. Whether it makes sense or not is debatable. $15 isn't much, but perhaps that's $15 that's just not necessary to spend.

[Alex]

Originally Posted by n00br1d3r

Good feedback Alex. What are your thoughts on Collision coverage?

Depends on the value of the bike. At some point it doesn't become cost effective to carry collision, but whether that point is when the bike's worth < $1K, < $2K, or < $3K is really up to the owner to decide. Liability is where having poor or no insurance can really screw up somebody's financial life. Not having collision means you're just on the hook to pay for your own repairs, or worst case will be out the value of the bike.

[adri99an]

Originally Posted by ASecretNinja

My thoughts are that rate is f'ing amazing. But I'd drop all that uninsured motorist bullshit. They really expect us to pay for someone who doesn't get insurance? Forget that. Take their ass to court.

Forgot to add my age---38 yrs old.
No tickets--if I did have any-- I went to traffic school
No accidents of any sort
M1 for 10 years
Took a motorcycle safety course back in '98

Been reading all the post--good stuff guys!
I might beef up some parts of my insurance but 115 a year is great since I only ride in the canyon and rarely do any street riding or ride to work......

Keep posting!!

[ninjabrewer]

43, not sure what the numbers are SWMBO handles all of that. But when I changed my ins from Hawaii to Calif, my rates went down about $25/month. I am with Geico, for now, that may change in the future.

nb

[jonthechron]

Me-- 24Y Male, Student, Driving School, No Anti-Theft Device yet (10% off when I do)
-Liability only, $2 mil.
Belair Direct = $111 for the year

-Full Coverage, $2 mil.
Belair Direct = $499 for the year

Includes Theft and Vandalism

Coverages Limits / Deductibles 2010
KAWASAKI EX250-J9

Bodily Injury Liability: Covered in the Vehicle Registration Fees

Property Damage Liability: $2 mil

Deductible $250

Comprehensive $100 Ded.= $25.00

[ASecretNinja]

So I just sold my 250, after giving me 4300 of the most entertaining miles of my life. Used sportbikes are so damn cheap right now that I had to sell the ninjette and move up. Best part is I sold it for the price I bought it. God bless the pre-gens. And be jealous, you new-gen owners

Back on topic: I'm researching insurance for the bike I have in mind, and my current company (Progressive) quote me 900 for the year for an '06 zx-6r; i currently pay 210 a year for my 250. I was a little irked at that, so I went to geico, and with the EXACT same coverages for everything, same deductibles same everything, they quoted me 410 dollars for the YEAR. My question is for anyone else that has moved up to a 600 or done any other similar vehicle swapping on their policy. To progressive's credit, they're supposedly giving me a "discounted" rate because I already have a policy with them, but that only brings the price down to over 700 for the year. I am 27 years old, have had my car license for 11 years, moto license for two, and have a perfect driving record. What are you guys with sportbikes paying for insurance? And what kind of coverage do you have? (btw I carry very minimal coverage. I have very good health insurance already, so im not going to blow more money on health coverage. I carry the minimum required by my state, plus comprehensive).

[Zim]

Progressive and Geico are AWFUL for motorcycle insurance.

Call State Farm. I was blown away at how much they saved me. I'll PM you my broker's name, he was great.

[JeffM]

Try Markel. I pay $109 a year for my 250 (However I am 52 years old). Geico wanted $450+

[Cedilla]

I pay just a tick under 1k a year for my 250r. Im 20 years old and I've had my moto licence for 6 years. That was when I had a clean driving record too, it probably will be higher when I renew it this summer.

[Reswob]

Originally Posted by Zim

Progressive and Geico are AWFUL for motorcycle insurance.

Call State Farm. I was blown away at how much they saved me. I'll PM you my broker's name, he was great.

When I got the Ninja, I called every insurance company I could think of, State Farm and Geico were the highest, Progressive was the cheapest by at least $100/yr. When I renewed the next year it even went down $50 since I'd had my license for 1 year. Currently paying $250.

[kevlarorc]

Allstate was the cheapest for me. I dealt with one of the supervisors who doesn't make commission so she really helped me save some money.

[laraider]

when i got my first bike 2 months ago,,,,geico was the cheapest for me.

[lilninja]

I would call state farm. progressive tried to rip us off too. we have a 250 ninja and a 2003 zx6r ninja. I think we pay aroud 50 a month for both and we are both 26. hope this helps

[ninjabadger]

Not to nit pick but to be honest, you're not going to be able to compare what you were quoted to others without also comparing what level of coverage people are getting, and what level of insurance you're comfortable with.

I'm paying $477 with Geico for 100/300 for liability, under and uninsured; 50k property damage, 10k medical, comp and collision with $500 deductibles. Of those, the medical and collision make up a little over half. I could half my insurance if I wanted to cut out some of my coverage. Also be mindful of any mandated state minimums that might affect what you or others can or cannot get. For example, in Wisconsin we're now required to have 100/300 for liability, under and uninsured motorists. I also think there's a requirement for medical payments as well.

[sherjay]

can anyone tell me how much their paying for insurance. full coverage or liability. yearly/monthly.

[cifex]

$49.84/ month liability +fire/theft

[SpYd3r05]

$28 a month for "full" coverage...

[backinthesaddleagain]

get as many quotes as possible - on 250 i had progressive who was slightly cheaper than geico. on 600 geico was highest, then progressive, then allstate, then independent agent got me good rate. it pays to shop.

250r with 25/50 full coverage,$1000 deductible, no passenger, 45 years old, no violations was $283 per year (progressive). same coverage on 600 was $990. ended up in the $500 range with 100/300 coverage after calling around.

[tjkamper]

$27 a month, Comprehensive, collision, 25/65/15, $3000 accessory coverage, $500 deductable.

Progressive.

[kkim]

Originally Posted by backinthesaddleagain

get as many quotes as possible

yup... keep shopping.

[want1sobad]

$88/yr - state minimum coverage - progressive

[sherjay]

thank you guys so much! really appreciate your time. im still shopping around. right now my cheapest is 500/yr full coverage with 250 deductible on comprehensive and collision, liability and uninsured motorist is 25000/50000, 0 medical as statefarm does not offer this (i have HMO, but i dont know if thats good or bad) and 25,000 property damage. Thanks again and keep them coming.

[vietboiz12345]

43/ a month $433 a year liability and comprehensive 15/30.
it should go down a bit after i take the motorcycle class

[dubojr1]

Originally Posted by want1sobad

$88/yr - state minimum coverage - progressive

$88 a year..... Come on, that can't be right???

I thought I had the best rate possible. $207 a year for full coverage with 25/50 and $500 deductible.

[tabogon]

$13.50/month. Minimum full coverage (due to loan requirements) State Farm.