GStwin.com GS500 Message Forum

I have an 05 GS500F, I'm in the process of insuring it.  On Progressive's website, they don't have an "F" model listed, but they have the GS500 and GS500E for 2005.  I got a quote for a GS500E, and they told me it would be $133/year.  

Is this okay?  Should I just insure it as an "E" model?  What is everyone else doing that has Progressive?  I can't argue with $133/year.

Thanks all.  I'm having a blast on these boards!

-Danimal

Is that for full coverage!? That sounds pretty good, even if it was liability only. I'm payin' $75/yr for liability only on a '94 and I'm 37, riding 19yrs.

That includes "Bodily Injury / Property Damage / Guest Passenger" and "Uninsured/Underinsured Motorists".  Is that what "Liability" means?  I'm new to the insurance thing.

Also, I'm 23 years old, have a perfect driving record (no tickets, etc.) and good credit.  I've been told that Progressive pretty much rates totaly on your credit score.  I'm not sure how true that is.

Thanks!

-Danimal

u got to watch it on the quotes. Alot of times you don't have to put in the Vin #er. IF you did then the quote you got was for an "f" model....also their little disclaimer says {prices maybe higher or lower upon actual instatement of insurance} aka-were's going to charge you more for an F which will correspond in the VIN number. Shouldn't be all that much more maybe 15-20$  Progressive gives MSF course discounts:)

Quote from: Jace009gsu got to watch it on the quotes. Alot of times you don't have to put in the Vin #er. IF you did then the quote you got was for an "f" model....also their little disclaimer says {prices maybe higher or lower upon actual instatement of insurance} aka-were's going to charge you more for an F which will correspond in the VIN number. Shouldn't be all that much more maybe 15-20$  Progressive gives MSF course discounts:)

o ya also call a Nation Wide and get a quote from Foremost INS. they are pretty competitive against progressive.

State Farm phooey on them...
Allstate=have to have mim. 5yrs experience MUST HAVE pass the MSF BC and or an automobile insured with them...don't ask I just hung up the phone more or les :guns:

Quote from: DanimalThat includes "Bodily Injury / Property Damage / Guest Passenger" and "Uninsured/Underinsured Motorists".  Is that what "Liability" means?  I'm new to the insurance thing.

Also, I'm 23 years old, have a perfect driving record (no tickets, etc.) and good credit.  I've been told that Progressive pretty much rates totaly on your credit score.  I'm not sure how true that is.

Thanks!

-Danimal

well if it's any help don't go for strict Legal Limits of Liability...The one time god forbid it does happen you don't want to be under the knife only to find out insurance isn't going to cover you....I recomend 100/300/100 limits. Most INS will match underinsured to your limits.

Progressive does so many quotes through their online site they really do base ALOT on credit score. That will give you a ball park figure. However from my experiece I used progressive as a base line quote. Some local progressive agents gave me a policy for a little less than the online quote. Then I also called some companies and got other quotes.

I only wish.
We were quoted $1800 for minimum coverage through Geico for a 18 year old and around $350 through progessive.  Probably has to do with my 90025 zip code.

Quote from: speedyts49I only wish.
We were quoted $1800 for minimum coverage through Geico for a 18 year old and around $350 through progessive.  Probably has to do with my 90025 zip code.

Yup, sounds about right.  I got quoted some ungodly number from Geico.  It was pretty much full coverage.  I'd love to have it, but I just can't afford it being in college and all.

Thanks for the replies everyone!

-Danimal

I'm paying $170 a year for Second Level liability only. I'm with Dairyland County Mutual. Also, I'm 19, riding for 1 year.

It sounds about right; don't worry about what they call your bike, just enter the proper VIN # and let them call it whatever they want to call it  :P

My credit score bites ass... but hopefully when i start paying down teh college loans, it will start to improve.

Then I will be able to afford the 40" Panasonic Plasma TV that i've been trying to convince myself to not buy!

It was either buy that TV, or get a motorcycle... pity that i'm not rich enough to afford both!

you need to call them on the phone.  it's possible they just don't have it listed on their website.  i have progressive and that's about what i pay for liability only.

liability only means you're only covered for damage you do to other peoples property caused by you

full coverage means you have liability coverage + your insurance company will pay for any damages to YOUR property (bike) caused by you.  

uninsured motorist coverage means your insurance company will pay for  damages to your property caused by someone else who does not have sufficient liability insurance.

I'm with Progressive, and they list my bike as a GS500F.  Liability coverage in the minimum limits in Arizona costs me something like $78/year.  When I added the Z1000, it went up to $222/year for both bikes.  I'm an attorney and carry comprehensive coverage (coverage on damage your own vehicle) and $750,000 in liability coverage on my car, but I really can't see the risk of liability being very high on a bike.  Most companies limit underinsured/uninsured coverage to whatever liability amount you buy.  If you buy $750K in liability (coverage for your liability to someone you run into), you can buy $750K underinsured/uninsured.  Underinsured/uninsured is CRITICAL.  It's YOUR protection if the person who runs into you has less insurance than the damage he causes (underinsured) or has no insurance at all (uninsured).  If he causes $50,000 damage and has $30,000 in liability coverage, he's underinsured to the tune of $20,000 and your policy will make up the difference (if you have at least $20,000 in underinsured coverage).  Buying a high amount of liability coverage typically isn't a great increase in the premium -- $250,000 doesn't cost ten times $25,000 -- so it isn't a bad idea.

Quote from: RunnerUnderinsured/uninsured is CRITICAL.  It's YOUR protection if the person who runs into you has less insurance than the damage he causes (underinsured) or has no insurance at all (uninsured).

+1  Or if they run and get away...

I wish I had that a few years ago...  :roll:  I know better now.

Now that I think about it, it probably is silly to carry the minimum amount of liability coverage because a higher amount of liability coverage allows you to buy a higher amount of underinsured/uninsured coverage.  Particularly in a bike-auto collision, the odds of the biker sustaining massive injuries and the automobile driver being underinsured seem pretty high.  I've convinced myself to see how much Progressive wants for at least $250,000 in coverage.

QuoteMy credit score bites ass... but hopefully when i start paying down teh college loans, it will start to improve.

Then I will be able to afford the 40" Panasonic Plasma TV that i've been trying to convince myself to not buy!

It was either buy that TV, or get a motorcycle... pity that i'm not rich enough to afford both!

Hey tarzanboy... I used to work at the HHGregg in Kennesaw, and soon I'll be working at the one in Smyrna.... whenever you decide you really do want that TV, let me know, I can set you up with Friends/Family pricing on anything you want, including your tv, cables, surround sound, refrigerator, whatever you want.... It'd be easiest if you went to Kennesaw, cuz I know everyone there, and can get you the best possible deal.. but seriously, when you're gonna buy, make sure you tell me...

You should go with at least the 100k levels of liability.

I've got 100k for liability/uninsured plus comprehensive and its $250/year from progressive for my 2000. 20 (almost 21) years old and no tickets/accidents. If they had a discount for MSF that would really make it cheap.

They do have a discount for the MSF, call them and ask about it.

Quote from: DanimalThey do have a discount for the MSF, call them and ask about it.

You sure? I did call and the lady had no clue what I was talking about.

I had GMAC when I had the F650, but they seem to only give good rates on BMWs; they were just competitive with Progressive after the F, not better.  State Farm gave me the best quote for the Burger, so I'm moving to them.  They don't give a discount for MSF - they require it to insure (at least, that's what the gal on the phone told me).

Quote from: rtcpenguin

Quote from: DanimalThey do have a discount for the MSF, call them and ask about it.

You sure? I did call and the lady had no clue what I was talking about.

Mmm...I assumed so because when I got a quote it asked me if I had completed it in the last 3 years.

Maybe not?

-Danimal

You probably got your quote a while ago. I read on another forum that Progressive stopped discounting for MSF late last year. There was definitely no discount listed in the online quote anywhere when I completed mine.

Quote from: rtcpenguinYou probably got your quote a while ago. I read on another forum that Progressive stopped discounting for MSF late last year. There was definitely no discount listed in the online quote anywhere when I completed mine.

I figured it out.  I am in Kansas, and this is directly from Progressive's website...

"In some states, you are eligible for a discount for taking a state approved motorcycle safety course. For classes in your state call the Motorcycle Safety Foundation at 1-800-446-9227. Progressive Direct requires a passing certificate upon completion as proof to obtain a discount. "

I checked and my state is eligible.  I just ran another quote on Progressive's website and they asked me again if I've completed the class.

-Danimal

I have Progressive for my '05 F in NY i'm paying $153 per year.

I dont know how your getting such a cheap quote.. Im 23... first bike, and whether i do full coverage or min coverage, i cant get a quote cheaper than $650 for the year with progressive.

bargovic I have progressive and have liability and comp. and I pay like $700/year. I'm 25, first bike, took MSF and have excellent credit, but not so good drving record. (I have two speeding tickets from last year.) Also, in Washington Progressive does not give MSF discount. Guy I talked to says they used to but it doesn't make any difference in my state.

This probablly has to do with the fact that Progressive doesn't get a break for covering WAshington riders with an MSF from their re-insurance brokers so they don't pass it onto their customers.

aevans17  im in the same boat as you.
great credit..  few old speeding tickets, and no discount for my MSF.  im paying $700 for full coverage in PA.

:dunno:  I have minimum coverage, its my first bike I'm 21, I have good credit and a spotless driving record. I  never took the MSF or have any other discounts for defensive driving or anything like that

blaaa .. i pay 818/year on my 05  gs500f :| but i have 2 tickets and my credit sucks .. but i manged to get a gs500f :) i went threw progressive .. only cuz they where the cheapest i could find .. threw any one .. local or big

I did the "Get a Quote" online with Progressive just now.

Minimum coverage, 0 violations, bike used for pleasure.

Single, male, 19 years old.

$208

I pay about $170/year with Dairyland County Mutual for better coverage than that. It would have been $290 for the coverage I've got under Dairyland.

The MSF discount doesn't mean a damn thing if you're dicounting from a high price to start with.. If it's offered and you qualify take it..

Here are a couple insurance definitions just from my memory...

Liability- pays for inuries and damages you cause to others (not yourself)

Medical expense coverage- pays for injuries while occupying the vehicle (pays first regarless of fault or cause)

Excess medical expence coverage- pays for injuies while occupying the vechicle after all other insuance is exhausted.

Uninsured motorist bodily injury- pays for injuies if you're hit by a driver with no insuance or their insurance company is insovent (they must be identified)

Underinsured motorist bodily injury- pays for injuries when you're hit by a driver that doen't have enough insurance to cover your loss

Unisured motorist property damage- pays for property (bike) if hit by an identified driver with no insurance or their insurer become insolvent

Collision- Just like it sounds it pays for damages to your vehicle if you're at fault. If you're not at fault your collision can sometimes pay for damages from an uninsured driver (states have thier own laws on the matter, you want to check you policy book on that one).

Comprehensive- Pays for losses to your vehicle from thing other than a collision. Fire, theft, vandalizm, flooding and such.


Always buy the highest limits you can afford. For a motorcycle you should at least have 100/300k limits or a 500k combined single limit.

Uninsured motorists are out there, I got hit by one last September and the amount of injuries would have exeeded Ohio's minimum limits even if the guy would have any insurance at all.

Danimal,

I am a 25/male with the same bike as you. 8)   I took the MSF course and I have clean driving record.  (My folks live in Overland Park btw)

I have everything insurance with Progressive.  I pay something like $1300/year.  The quote they originally gave me for a 2005 F model was much lower, but for some reason, the premium went up a lot when I bought the bike and gave them the VIN #.

Nevertheless, their rate was lower that the quotes I got from other companies for comprehensive insurance.

Justin

I'm sure the discount varies state by state, but:

In Georgia, they give a 10%-15% discount for MSF.  Unfortunately, Georgia stopped subsidizing the MSF BRC course, so it costs $300 to take it.  

If you do the math, then you will realize that because of the cost, MSF doesn't really offer a discount unless you're paying more than 2 grand a year for insurance.

I currently have minimum coverage.  $100 a year with one speeding ticket.  28 yrs old.   Insuring an '89 bike for damages doesn't make much financial sense since the blue book value is under $1000

Quote from: TarzanBoyIf you do the math, then you will realize that because of the cost, MSF doesn't really offer a discount unless you're paying more than 2 grand a year for insurance.

But you get the discount every year...you don't have to pay for the MSF course every year.  I save about $75 or so (annualy) on my insurance with the MSF discount in MA...IIRC, the class cost me around $300.  In about four years it pays for itself (unless I get a bigger bike, then it would be sooner  :thumb: ).  

My policy (full coverage) costs about $550/year (not that it helps anyone, auto insurance rates are fixed in MA).  I was quoted around $900 when I asked about getting a 600cc bike.  That comes way down after I've had my license for 5 or 6 years and lose the "inexperienced operator" rating...and I'm sure goes through the roof if I lose my safe driver credit.

Quote from: fettcolsThe MSF discount doesn't mean a damn thing if you're dicounting from a high price to start with.. If it's offered and you qualify take it..

What I meant there was if you qualify for the discount, take the discount.. But if one company offers you a MSF discount but they're twice the price of a company that doens't offer it, well... simple math.

I have all my stuff insured with state farm. My agent said they didn't offer a MSF discount but they were half the price of Progressive on my bike. Of course progressive was like $60 a year cheaper for my auto than state farm but the old farm offers $100k excess medical expense coverage (autos only) in Ohio and I think progressive's limit was 10k..

It pays to shop around...

Scratch that $1200.  I actually pay $1500/year to completely cover my new '05 GS500F.