How much do you pay for insurance??

[gikim1118]

$115 / yr, Progressive. 27yr old single male, new rider, with 2 speeding tickets - liability only with $2,000 medical coverage.

[aliveandkickin]

thanks for the help everyone. i think my insruance lady might have entered in the GS as a supersport, maybe a gixer, anyways hopefully it all gets fixed  :guns:

[frakkopesto]

i am not an expert but, doesn't depend a LOT on the state where you are living?
i pay around $360/year with markel (30 years old first bike clean record) in NY state. Progressive was more expensive here...

[My Name Is Dave]

It depends on a lot more than the state. I think the person is the main consideration. I've heard of people paying $200 a year or so for full coverage on a GS5 through AllState, who was charging me $1,400 for the year. I got quotes of anywhere between that and $3K a year (I know, funny right?) until I found a company that would do it for about $17 a month. Country Insurance is great for me, but may not give the best quote to someone else. Or they may...who knows?  :dunno:

Dave  

[Catcams]

[rritterson]

21 yr male- $1600/full + $100/$300k liability $500/500 deuct on comp/coli and $25000 UIM coverage. That's the rate for a guy who has only had a motorcycle license for less than a month.

That was when I had one 1pt ticket and 1 at fault. Both of those passed the 36month horizon recently, and I rerated myself at $900/yr for  the same coverage. Now I have 6 months of experience.

[JohnPGS]

i paid  283 for a full year full coverage, not so bad i guess.

[scottpA_GS]

i am not an expert but, doesn't depend a LOT on the state where you are living?

This gets me every time.. Insurance rates are mostly based on your credit score!!! Like I posted before, I have a friend who's car insurance is like $200.00 a year less than mine and he has 2 DUI's!!!. :x I dont even have a single ticket in the past 10 years !!! We are both the same age and live in the same town and drive simmilar cars. I will never understand how your credit rating is more importaint to the car insurance company than your driving history. All I can say is  :nana:

[jason_S]

I pay $320/yr for full coverage with Country Companies.  That's with my multi-car and auto-home and good driver discounts.  Plus I'm 25, male, married.  I also got quotes from Allstate, Progressive and Geico.  They ranged from $700 - 1400/yr for the same coverage.

[jason_S]

i am not an expert but, doesn't depend a LOT on the state where you are living?

This gets me every time.. Insurance rates are mostly based on your credit score!!! Like I posted before, I have a friend who's car insurance is like $200.00 a year less than mine and he has 2 DUI's!!!. :x I dont even have a single ticket in the past 10 years !!! We are both the same age and live in the same town and drive simmilar cars. I will never understand how your credit rating is more importaint to the car insurance company than your driving history. All I can say is  :nana:

Actually the area you live in does make a big difference.  Maybe not as much as credit score or driving history, but it can affect your rates by a few hundered a yr.  For instance my brother just moved from the city I live in to a smaller town a couple miles away and his ins dropped $320/yr.

[scottpA_GS]

yea, I wasnt saying that it doesnt. I know that if you live in a bigger city you will usually pay more.

I was just saying that the credit thing has got me stumped!?! I pay my insurance on time every time for the past 13 years. how can credit be more importaint than your driving skills?  :mrgreen:  Silly insurance companies  :nana:

[mastrind]

This gets me every time.. Insurance rates are mostly based on your credit score!!! Like I posted before, I have a friend who's car insurance is like $200.00 a year less than mine and he has 2 DUI's!!!. :x I dont even have a single ticket in the past 10 years !!! We are both the same age and live in the same town and drive simmilar cars. I will never understand how your credit rating is more importaint to the car insurance company than your driving history. All I can say is  :nana:

while I'm not disputing this at all, I will say that Motorcyclist magazine had an indepth article about this last year....rates were significantly different for the same person simply just changing the zip code that the person applied for....

....from my personal perspective, I think a lot also varies simply on the insurance company that you use....I have American Family....I get a great rate for my SV with them.....but other companies had better prices on other bikes then AmFam did....for instance....I price a Kawi z1000 when I bought my SV.....State farm was about $400 a year cheaper then AmFam was for that particular bike.....Farmers Ins was about $300 less expensive on a YZF600.....but I really liked my agent, and I really wanted the SV, so I got that instead....besides as a college kid, the SV was the most economical for me (it was also the cheapest of the rates for either the z1000 or YZF, but not by much).....

...just FYI....27 yr old male, married MSF, full coverage (w/glass) at the $50k/$100k/$50k levels cost me $375/yr on my SV....down from $550/yr last year....I've got 1 ticket on my record, and I just moved to a much more wealthy neighborhood.....

[aevans17]

Insurance is a racket. Credit score is important but so is f!ng you over too! Think about it. Your average insurance company like geico sells policies to motorist, like us, for a price. They then take all their money that they get each month and then they comapre that to the likely hood that they will have to make a huge payment. They add this to the amount of money they have on hand in the form of cash reserves, and then they determine a number that they can afford to pay. This is usually something very low like $1 million. They divide the $1 million again by the likely hood that people in a specific area will make a claim, and then figure out whats the largest claim that they can pay. This gives them another small number like $1500. This means that any claim that is less then $1500 dollars they pay. Anything over that, they take out insurance from re-insurance companies.

These companies make the most money because they are like large banks. They look at the insurance market in the same way, except the sell crappy insurance policies to the primary insurance companies. They make more proffit off of them, then the primary companies do off of us because insurance companies are usually cash poor. Since the re-insurance company has lots of money they can stand to pay a huge amount because they have large cash reserves. Most of the time they make a killing because how many claims does Geico really file in a year as compared to how much the re-insurance company charged them for a premium. However, when things like 911 and Hurricanes hit the US re-insurance companies take a huge hit because they actually pay out large amounts of money in claims.

Long story short, if you have alot of money, then you get alot of money. If you don't then you get screwed. We are getting screwed, primary insurance companies are getting screwed, and big brother/the man get's it all.

[aevans17]

Oh yeah, so why does credit score matter, becuase some bean counter somewhere figured out that people with credit score above X is less likely to have a major accident and or file a huge claim. Therefore, if a primary insurance company has more clients with a credit score above X then the reinsurance premium that they pay is less which means they keep more of the money that they charge for your policy. Sounds stupid, but they have all kinds of numbers that they use to create mathmatical models that predict how much money they need.

This is just suposition, but let's think about people with higher credit scores. Your credit score is higher the higher your income to debt ratio is. Imagine person A who makes $100,000 a year and only has $5000 in debt as opposed to person B who makes $15,000 and has the same $5000 in debt. If person A were caused an accident where they damaged another person's car they would have alot more disposable cash to simply pay for the damages out of their pocket with making an insurance claim. Person B would probablly not have enough cash on hand to pay for the damages so they would be forced to make an insurance claim. Therefore, insurance companies charge more money for people with lower credit scores because (in their minds) they are higher risk of paying out.

Same reason why married people get a break. If you are married you are less likely to go out and get blasted with the boys and then drive drunk and cause a crash where insurance would have to make a huge payout. Also couples have two people who can earn money. Therefore, the chances that the insurance company would pay more out of pocket are higher of making a payout for a single people. Of course this is not always the case, but it's how insurance companies predict how much money u have to pay.

[rclz]

I pay $6000 a year in Canada. 17 years old.....no comment.

[calvert0014]

wow, $6000 a year thats insane. how much do you guys think insurance would be for me? im 17, have a 1991 gs500, no accidents or tickets and i live in maryland. i did the progressive online quote thing and it said like $450/year. is that online quote usually accurate?

[sanjay]

I'm 21, male, clean record, liability plus uninsured motorist, and I pay $450 a year.  That's with State Farm though - I got better quotes but my family has always been very happy with State Farm's performance when we need them.

[ghettorigged]

$41 / year for liability with NOVA insurance.

(Bike is still registered in NY)

[Purplenurse]

$64.00 for my 95 GS500 for 6 months.
$69.00 for my husbands 01 SV650 for 6 months.
This is just the basic requirement insurance. (Liability/Uninsured/Etc.)
Allstate in California.

[Cal Price]

At today's rate of exchange $238.00 (US) per year fully compreshensive including breakdown recovery.