Do these insurance quotes make any sense to you?

MaximumHP · August 22nd, 2012, 08:11 AM

So I asked for some quotes from my insurance company to see how much other bikes may cost me to insure. I didn’t do this initially because I knew the Ninjette was the bike I was going to get and pretty confident the premiums would be reasonable.

For full disclosure I’m in WI, so they probably figure on 6 mo of riding, 37yo, married with one kid, home owner, and been with my agent for 10+ years so I typically get any discount that’s available (I hope) Clean driving record, 1 home, 4 cars plus my bike on the plan. My current coverage is full coverage for around 150 year (for my 2010 Ninjette only), not sure on the specifics, but generally good coverage (I go by my agents recommendations, and don’t skimp on coverage)

So here’s the quotes I asked for. Generally I tried to put them in the order I thought would be lowest to highest to insure:
2013 Kawasaki Ninja 250R
2012 Kawasaki Ninja 650R
2002 Honda CBR600 F4i
2011 Kawasaki Ninja 1000
2009 Kawasaki Ninja ZX-6R

And here’s the response I got:
2013 kawa ninja 250r -18.56 Per Year
2012 kawa ninja 650 + 82.55
2002 Honda CBR +32.93
2011 kawasaki ninja +98.30
2009 kawasaki Ninja +41.35

So to me there a lot of things that don’t make sense to me.
1.) I can buy a brand new 250 and my insurance goes down?
2.) The second highest jump in insurance is the 650, twice of a ZX-6R?
3.) For only 40 bucks more a year I can drive a ZX-6R to kill myself 10 times easier?

Most disturbing to me is the bike I’m most interested to buy next is the Ninja 1000, which turns out to be the highest insurance. On the other hand I can’t believe I could drive one of those around for $250/year. Maybe that is accurate considering a lot of people around here do only ride for 6 months. I ride once the snow is gone and till the snow hits in fall, but your still lucky to get 8 months.

Does this seem wack? I guess I had anticipated like 4-5x the insurance premiums moving to Supersport or similar.

Lychee · August 22nd, 2012, 10:17 AM

Here is possible logic behind their quotes:
1. Second bike, similar to your current bike.
2. 650 is a sport tourer and more likely to see 365 days of riding compared to the zx6r, a sport bike that many ride in the summer only. Can't crash it if the bike is in the garage. Usually.
3. The 600 is not 10x easier, maybe just 4x. Granted that is still significant, but your evaluation here might be a very cautious opinion of your own skill level. A good thing.

Very odd that you would think the insurance for the 600 to be more than the 1000, which in my opinion might actually qualify for the 10x easier statistic. What's your logic for that?

edited for clarity

MaximumHP · August 22nd, 2012, 11:20 AM

Well it could just be a misunderstanding on my part, I was under the impression that super sports were high insurance pretty much regardless of displacement because they are purpose built for performance riding (and possibly due to the kind of crowd they tend to attract, risk takers?) I guess I was exaggerating a bit with the 10x comment, but honestly the risk has got to be higher. For example, I’d be shocked if a 1000cc cruiser is the same insurance as a ZX-10R, but I could be wrong. For the same reason, I thought the Ninja 1000 would be at least less than a ZX-10, maybe similar to the ZX-6R, Peak power is actually similar between the 1000 and ZX-6R, however the 1000 will have more torque, but ideally attract more of the sport touring crowd with its upright position, lower redline, and fatter torque curve for real world use.

lazarith · August 22nd, 2012, 01:01 PM

You seem to be assuming that the insurance company rates are based off of some kind of risk analysis

My guess is that they do less risk analysis for motorcycles as compared with cars, due to a smaller market and a smaller payoff for them. So, I wouldn't base a bike's safety on the insurance costs.

alex.s · August 22nd, 2012, 01:05 PM

newer bikes get crashed faster.

Jiggles · August 22nd, 2012, 01:36 PM

It depends on how much the bike is crashed (claimed) at the ins co. My 650 was 200/yr my 1000 is $1662/yr

MaximumHP · August 22nd, 2012, 02:09 PM

Quote:

Originally Posted by Jiggles

It depends on how much the bike is crashed (claimed) at the ins co. My 650 was 200/yr my 1000 is $1662/yr

That's why I'm shocked they quoted me 250/yr for a Ninja 1000. I'm afraid to buy one then they say "oops, we meant 1662/yr".

August 22nd, 2012, 08:11 AM	#1
MaximumHP ninjette.org member Name: Eric Location: Appleton, WI Join Date: Apr 2012 Motorcycle(s): 2010 Ninja 250R Posts: 17	Do these insurance quotes make any sense to you? So I asked for some quotes from my insurance company to see how much other bikes may cost me to insure. I didn’t do this initially because I knew the Ninjette was the bike I was going to get and pretty confident the premiums would be reasonable. For full disclosure I’m in WI, so they probably figure on 6 mo of riding, 37yo, married with one kid, home owner, and been with my agent for 10+ years so I typically get any discount that’s available (I hope) Clean driving record, 1 home, 4 cars plus my bike on the plan. My current coverage is full coverage for around 150 year (for my 2010 Ninjette only), not sure on the specifics, but generally good coverage (I go by my agents recommendations, and don’t skimp on coverage) So here’s the quotes I asked for. Generally I tried to put them in the order I thought would be lowest to highest to insure: 2013 Kawasaki Ninja 250R 2012 Kawasaki Ninja 650R 2002 Honda CBR600 F4i 2011 Kawasaki Ninja 1000 2009 Kawasaki Ninja ZX-6R And here’s the response I got: 2013 kawa ninja 250r -18.56 Per Year 2012 kawa ninja 650 + 82.55 2002 Honda CBR +32.93 2011 kawasaki ninja +98.30 2009 kawasaki Ninja +41.35 So to me there a lot of things that don’t make sense to me. 1.) I can buy a brand new 250 and my insurance goes down? 2.) The second highest jump in insurance is the 650, twice of a ZX-6R? 3.) For only 40 bucks more a year I can drive a ZX-6R to kill myself 10 times easier? Most disturbing to me is the bike I’m most interested to buy next is the Ninja 1000, which turns out to be the highest insurance. On the other hand I can’t believe I could drive one of those around for $250/year. Maybe that is accurate considering a lot of people around here do only ride for 6 months. I ride once the snow is gone and till the snow hits in fall, but your still lucky to get 8 months. Does this seem wack? I guess I had anticipated like 4-5x the insurance premiums moving to Supersport or similar. Last futzed with by MaximumHP; August 22nd, 2012 at 02:10 PM. Reason: Bad math skills

August 22nd, 2012, 01:05 PM	#5
alex.s wat Name: wat Location: tustin/long beach Join Date: Sep 2009 Motorcycle(s): wat Posts: Too much. Blog Entries: 5 MOTM - Oct '12, Feb '14	newer bikes get crashed faster. __________________________________________________

August 22nd, 2012, 01:36 PM	#6
Jiggles Jigglin' your Jiglets Name: Sean Location: San Jose, Ca Join Date: Jun 2011 Motorcycle(s): 2009 K1300S, 2013 Ninja 300, 2011 Ninja 250R, Faster than Unregistered's ninjette Posts: Too much. Blog Entries: 1 MOTM - Apr '13	It depends on how much the bike is crashed (claimed) at the ins co. My 650 was 200/yr my 1000 is $1662/yr __________________________________________________ If the Ninja 250 doesn't have enough power for you, then you don't know how to ride it. AFM #676 Supersports are for n00bs

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August 22nd, 2012, 10:17 AM	#2
Lychee sail away Name: Jon Location: San Jose Join Date: Jul 2012 Motorcycle(s): gixxer (sold), ninjette (upgrade!) Posts: 964 Blog Entries: 8	Here is possible logic behind their quotes: 1. Second bike, similar to your current bike. 2. 650 is a sport tourer and more likely to see 365 days of riding compared to the zx6r, a sport bike that many ride in the summer only. Can't crash it if the bike is in the garage. Usually. 3. The 600 is not 10x easier, maybe just 4x. Granted that is still significant, but your evaluation here might be a very cautious opinion of your own skill level. A good thing. Very odd that you would think the insurance for the 600 to be more than the 1000, which in my opinion might actually qualify for the 10x easier statistic. What's your logic for that? edited for clarity

August 22nd, 2012, 11:20 AM	#3
MaximumHP ninjette.org member Name: Eric Location: Appleton, WI Join Date: Apr 2012 Motorcycle(s): 2010 Ninja 250R Posts: 17	Well it could just be a misunderstanding on my part, I was under the impression that super sports were high insurance pretty much regardless of displacement because they are purpose built for performance riding (and possibly due to the kind of crowd they tend to attract, risk takers?) I guess I was exaggerating a bit with the 10x comment, but honestly the risk has got to be higher. For example, I’d be shocked if a 1000cc cruiser is the same insurance as a ZX-10R, but I could be wrong. For the same reason, I thought the Ninja 1000 would be at least less than a ZX-10, maybe similar to the ZX-6R, Peak power is actually similar between the 1000 and ZX-6R, however the 1000 will have more torque, but ideally attract more of the sport touring crowd with its upright position, lower redline, and fatter torque curve for real world use.

August 22nd, 2012, 01:01 PM	#4
lazarith ninjette.org member Name: A Location: Boston Join Date: Mar 2012 Motorcycle(s): 2012 Ninja 250 J Posts: 18	You seem to be assuming that the insurance company rates are based off of some kind of risk analysis My guess is that they do less risk analysis for motorcycles as compared with cars, due to a smaller market and a smaller payoff for them. So, I wouldn't base a bike's safety on the insurance costs.