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kangjin
09-09-2005, 10:36 PM
Hello all,

I purchased Chris A's 04 Factory from this board a couple months ago...I am a new rider and have been taking it very slow on the bike so far...

My question is this: I've been shopping around for insurance rates and they seem really really high...background I'm 27, single, don't own a home, have no marks or tickets on my driving record. I have full coverage on my car (04 Acura, owned free and clear) and it runs about $87 a month, through Safeco. I live in Bellevue, Washington state.

The quotes for similar coverage on the bike have been more in the $2500-3100/year range -- that seems really unreasonable, especially compared to the numbers from the insurance thread http://www.apriliaforum.com/forums/showthread.php?t=46460

Am I just out of luck because of my age? Would it helped if I owned my own home? I just can't believe that motorcycle coverage is going to cost me two to three times the car coverage........

Any comments/help would be appreciated...

Safeco - $3100/yr
Foremost - $2500/yr
Geico - $2900/yr
(given average comprehensive coverage, I can dig up the numbers if it helps at all)

emonk
09-09-2005, 11:04 PM
Hello all,

I purchased Chris A's 04 Factory from this board a couple months ago...I am a new rider and have been taking it very slow on the bike so far...


Any comments/help would be appreciated...

Safeco - $3100/yr
Foremost - $2500/yr
Geico - $2900/yr


I pay Progressive about $350 a year for full coverage on a '04 Tuono AND I had a claim last December when my last bike walked off without me. Despite my disdain for George Soros I consider it a good deal.

TT

amauri
09-10-2005, 12:08 AM
It's all about location, and the type of bike.
I see more Factories and Milles involved in crashes than Tuonos, Falcos, etc...

Also, don't tell them it's a 1000-CC, thell them it's a 998.

Silver-Bolt
09-10-2005, 08:03 AM
That does seem high. However bikes with body will cost more to insure. Tuono should be cheaper to insure than a Mille. My Tuono through Progresive is about $400 annually with increased coverage. The funny thing is when I checked Progressive directly they were like $1500. Going through an independent agent I got it for the $400 same coverage. Shop, shop, and more shopping.

Old Wanderer
09-10-2005, 08:14 AM
What I found on my Falco was the time you have had your M/C endorcement plays a major role. When I told Geico I had gotten my M1 3 years ago Pl/PD was like $900/yr but when I explained I had one in NV for 30 years it dropped to $189/yr. huge difference due to riding experience. (Also was only $50/yr to add additional motorcycles).

Chicago
09-10-2005, 10:02 PM
Very cheap, only downside is you have to insure your car with them too. But their rates aren't bad. My rates are only about $500/ year for comp and collision.

kangjin
09-10-2005, 10:29 PM
What I found on my Falco was the time you have had your M/C endorcement plays a major role. When I told Geico I had gotten my M1 3 years ago Pl/PD was like $900/yr but when I explained I had one in NV for 30 years it dropped to $189/yr. huge difference due to riding experience. (Also was only $50/yr to add additional motorcycles).

This is probably the big factor for me, since I just got the endorsement a couple of months ago...I'm going to try State Farm next week, but most likely I'll just have to bite the bullet for a couple years...can't ride the bike w/o insurance, she's too valuable!

Thanks for the replies/info,
Brian

emonk
09-12-2005, 10:12 PM
I see more Factories and Milles involved in crashes than Tuonos, Falcos, etc...


Why do you 'spose that is? Is it the bikes or the people who buy them? Relative numbers of each on the road?

TT

maxpower220
09-12-2005, 11:52 PM
Just got my RSVR and did some checking. Progressive was $1600 per year. I got it through USAA for $226/yr.

RZRob
09-13-2005, 12:05 AM
Look for other posts on the subject. I asked the same question and learned from others.

RZ Rob :peace:

jwa1
09-13-2005, 12:08 AM
progressive/geicko both suck ass,
i had both company's for a while . than i found AAA.
if you have auto with them then your moto dirt cheap. 2004 bmw x3 - 2005 ford f150 supercrew and my 2004 factory. my self and my wife do not have the best driving record eighther, my totall is less than 1800.00 the first year the second year will less than 1700.00 and the road side assistance can't be beat. progessive ran me even more for the bike alone.

FalcoLion
09-13-2005, 01:13 AM
That seems to be pretty high numbers for WA state. Geico quoted me $850 per year for a full coverage but I didn't go with them because they check your residency pretty good and God forbid something happens. I would be screwed royaly.

Also as a side note I thought that my previous post might be helpful to most of us. So if anyone wants to resurect this thread go right ahead. It has a grerat info for most of us.
Motorcycle Insurance Poll (http://www.apriliaforum.com/forums/showthread.php?t=46460&page=6&highlight=insurance)

StockFactory
09-14-2005, 06:50 PM
Try Farmers, they go by CC or displacement. I pay about $260 with a $200 deductible.

kangjin
09-14-2005, 07:21 PM
I just got a quote from State Farm,

420/yr if I move my auto to them too, 720 if its just the bike. Unfortunately, their auto premium is more than 300 more than my current, so I'm just going to move the bike. We both couldn't believe how much cheaper it was than all the other places I tried.

Thanks again for all the help!
Brian

Tee-Dub
09-16-2005, 12:03 AM
Try Country Companies. I have them in Vancouver, WA and their rates are great on bikes. You will have to move your car policy to them too though.

comleader
09-22-2005, 01:53 PM
I think it is because of several factors, one being your age. But insurance companies now base much of their rate (at least with cars) on your"insurability score". The main component of that score is your FICO score from the credit reporting agencies. The rational is if you are a person that maintains a good credit rating, then you will care about maintaining your insurance, paying on time, care about your driving record, and generally be a responsible citizen.

I am a new owner (less than a week) of an '04 Factory. I have all of my insurance with State Farm and currently pay $46/month (full coverage) for a 2000 929RR and a 2005 Yamaha FJR. I also have my cars and home owners insurance with them. I don't know what the Factory will cost at this point, but I don't it expect it to be anywhere near outrageous. One point of interest - my agent told me SF was moving to basing rates on the VALUE of the bike, not on its displacement.

brif4i
09-23-2005, 01:27 AM
hi kangjin I just picked up my 04 mille today from atomic off this board (also from the seattle area). Anyways I to am 27 too but I am married and own a house and have one ticket on the record. My quote from formost was $1650ish, being married helps alot. I hear you can go better by trying statefarms or liberty mutual but they have to insure your car too. For now I am sticking with foremost because my agent is also my fathr inlaw and I like the service he give me. Anyway's

brif4i
09-23-2005, 01:33 AM
I just got a quote from State Farm,

420/yr if I move my auto to them too, 720 if its just the bike. Unfortunately, their auto premium is more than 300 more than my current, so I'm just going to move the bike. We both couldn't believe how much cheaper it was than all the other places I tried.

Thanks again for all the help!
Brian
could you pm me your agents name please

williamr
09-23-2005, 05:43 AM
In the UK you wouldn't be allowed to ride this bike until two years after passing your test (3 parts, CBT, Theory test and pursuit test), although given your age you could have gained a license through the direct access route, but you'd perhaps find insurance unaffordable at first.

Point is, as an inexperienced rider on a powerful bike, you present a very high risk (statistically, not personaly) to any insurer. See how much the cost drops after a couple of claim free years.

Rob