How do you young guys afford insurance?? - GSXR.com
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post #1 of 67 (permalink) Old 10-03-2006, 10:25 PM Thread Starter
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How do you young guys afford insurance??

Well i went shopping for insurance today because im financing the bike trough my bank..and they wont release my check until i have proof of insurane..i went to AIG who i have my car financed throuhg and they came back with 4,200 a year!!! and it was a 2 payment deal once now and once 6 months from now!! i shopped around and found the same thing everywhere else..but they offered payments 900.00 down and 400 a month!! that is more than my car insurance on a mustang cobra!! im 20 years old...how do us younger riders afford to ride around????? i have a few tickets on my record, but nothing in the last year...this is my first registerd motercycle...and the bank required i have proof of insurance before i can buy the bike : ( : (
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post #2 of 67 (permalink) Old 10-03-2006, 10:46 PM
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most get liability if there financed throught the dealership, others add the bike on to their existing car policy. Kid i know got fully coverage for 98 bucks a month and he is only 20 with an accident and ticket within the last 3 years.
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post #3 of 67 (permalink) Old 10-03-2006, 10:49 PM
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1. get a lawyer to get your driving record clean.
2. Good job. (good income to pay for it all)
3. Try Mendakota insurance, they seem to have good rates. Also try Country companies.
4. bend over and let the raping begin. LOL
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post #4 of 67 (permalink) Old 10-03-2006, 11:05 PM
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post #5 of 67 (permalink) Old 10-04-2006, 12:00 AM
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are you buying used? if not, finance through suzuki...( I'm assuming you're getting a gixxer!) no insurance required. I'd get something though, but like you I can't afford full coverage...too many tickets and being 21 doesnt help either.
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post #6 of 67 (permalink) Old 10-04-2006, 04:54 AM
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i got it for 32 month full cov the trick is to not have medical which i only advise if you have other coverage for parents work ect other wise well just not smart
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post #7 of 67 (permalink) Old 10-04-2006, 06:05 AM
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Originally Posted by MindTrip View Post
most get liability if there financed throught the dealership, others add the bike on to their existing car policy. Kid i know got fully coverage for 98 bucks a month and he is only 20 with an accident and ticket within the last 3 years.
that what i did
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post #8 of 67 (permalink) Old 10-04-2006, 06:15 AM
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number one I am suprised that you even had to do that. My bank let me have libility but I am also getting Lo- Jack...



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post #9 of 67 (permalink) Old 10-04-2006, 06:44 AM
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I use State Farm Insurance, they go by the CC's and I had no problems about my tickets. Most other insurance companys go by the style of the bike.
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post #10 of 67 (permalink) Old 10-04-2006, 07:13 AM
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Allstate requires you to be on your own insurance policy for a minimum of 3 years usually, and would require his car on the policy as well.

Hell, I have the same problem as you, but they wanted around $1800/yr for full coverage. I pay about $700/yr without collision for the past 3 years of riding experience. IMO, even with a $1000 deductible, I'm not freaking paying $1100/yr for collision. If I drop my bike or drive off the road, my fault, and what I've saved has already paid for itself.

IMO, NO ONE would pay over 1/8th of their vehicles worth every year in insurance. I mean, give me a f'ing break.

I do plan to go full coverage with a low deductible this coming Spring, but I'll stick with what I have until after the winter. Hopefully I can get a better deal this time around.

I really don't know how insurance companies decide on who gets such cheap insurance when it comes to bikes. I blame those f'ers who buy 1000cc bikes and drop them right away. Thanks guys.

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post #11 of 67 (permalink) Old 10-04-2006, 08:06 AM
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i'm 25. been riding since i was 16. had a bike b-4 a car. progressive is the best place i've found. my driving record sucks from steet racin in high school and it's 62.50 a month w/ 250 deductibles for full cov. w/ 75k-125k med, and unins. motorist too. not to mention i get 4 free mos cause it's pro rated for the off season. had two claims. one theft and one accident. had both claim checks in less than three days. oh and towing, road side, and extra for gear n mods is 50 extra per six mos, per 2000. look into it.

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post #12 of 67 (permalink) Old 10-04-2006, 08:14 AM
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cheap insurance?

I go through state farm and its really cheap couldn't believe the deal I was getting!
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post #13 of 67 (permalink) Old 10-04-2006, 08:20 AM
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I have state farm, 128.00 a year when I had my bike. Not bragging, but here is my record; 5 speeding tickets, 1 following too closely, 3 insurance (all dropped but still visible), 2 accidents one at over 100 mph on the local interstate (spent a night in Denver County).

I do not condone, in anyway, stupid driving. The last accident happened this past december (got my bike after) and it was a real eye opener. I should have died, but I walked away unscratched. I don't speed anymore, I don't do stupid shit anymore and I DEFINITELY don't condone anyone else doing stupid shit. Sorry for the disclaimer above.

My best advice is to go through an insurance broker and they will find you the best rates possible.

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post #14 of 67 (permalink) Old 10-04-2006, 08:27 AM
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liability w/ progressive, 31.13 a month

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post #15 of 67 (permalink) Old 10-04-2006, 08:36 AM Thread Starter
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wow...there must be somthing wrong here...every site i visit is comming back with $4,000+ a year....and they want $900+ down to even get the insurane..my driving recored is NOT that bad...maybe a few tickets here and there....and my bank is requireing comprehensive and collision...i guess im not getting this bike at this point in my life...my payment for the loan is already $250 a month...
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post #16 of 67 (permalink) Old 10-04-2006, 08:50 AM
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I got my 06' GSXR 600 for $1663 a year for full coverage 100/300 coverage and also has my wife as a rider on it. I have an accident with total loss on a 2005 600RR and a 15 over speeding ticket. I got it through Foremost insurance.

I had my 600RR through AIG and paid $1124 a year for just myself with 20/40 coverage. after the accident I got the new bike and called AIG for a quote and they told me $2600 a year for just myself. Progressive, AIG, farm burreau, Allstate and a few others were 2400-2800 for just me. screw all of em cuz Foremost took good care of me.

Oh I forgot to mention that Nationwide insurance was second best at $1750 a year. I am 25 by the way.
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post #17 of 67 (permalink) Old 10-04-2006, 09:04 AM
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I first started riding when I was about 25. I was paying $256.00 A year for full coverage on A Honda cbr F4i. I did have some speeding tickets. Now I'm paying $270.00 (one year full coverage) on my 06 Gixxer 600. Insurance company is State Farm.
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post #18 of 67 (permalink) Old 10-04-2006, 09:07 AM
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where do you live? i have heard that can make a difference too.

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post #19 of 67 (permalink) Old 10-04-2006, 09:08 AM
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Quote:
Originally Posted by SoK View Post
liability w/ progressive, 31.13 a month
also, liability w/ progressive, 34.00 per month

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post #20 of 67 (permalink) Old 10-04-2006, 10:44 AM
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..i went to AIG who i have my car financed throuhg and they came back with 4,200 a year!!! and it was a 2payment deal once now and once 6 months from now!! ( : (
Do what? That is crazy!

I must say that I have never heard of anyone having to pay that much for insurance on a motorcycle, much less a car!

Seriously, go and get your driving record straightened out ASAP. If I had to pay that much for my MC insurance, I would have never gotten one.

That is some serious cash!

Good Luck!
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post #21 of 67 (permalink) Old 10-04-2006, 10:58 AM
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I can't believe people STILL HAVE NOT FIGURED THIS OUT!

State FARM! You put your car on as primary, and the bike as a recreational vehicle. They rate all your accidents / tickets on the car, and the bike goes in clean. I get full coverage for 23$ a month with 100/300 all around.
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post #22 of 67 (permalink) Old 10-04-2006, 11:15 AM
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Originally Posted by Smcneally View Post
If I drop my bike or drive off the road, my fault, and what I've saved has already paid for itself.

IMO, NO ONE would pay over 1/8th of their vehicles worth every year in insurance. I mean, give me a f'ing break.

I really don't know how insurance companies decide on who gets such cheap insurance when it comes to bikes. I blame those f'ers who buy 1000cc bikes and drop them right away. Thanks guys.
I totally agree with all of this.



I use an insurance broker. Maybe something you should consider? Let them shop the best rates for you.

FYI - State Farm usually does not take on new customers under the age of 25.

We shopped around for a new company and Progressive is what had the best rates for us at the time (my husband was 19 then). When he got his 1st bike, they were the only ones who would write the policy. We've been with them since.

Progressive goes by cc's and classification of the bike (sport, supersport, sport-tourer). The annual price of full coverage would cost us more than our bikes cost. We pay $1,300 a year for liability only, with the MSF discount it's around $1,100. My husband's Busa is responsible for almost 70% of that. It used to be lower, believe it or not - we had a little 250 cruiser we just sold, and we did have a multi-cycle discount for that, which had us around $1,000 for three bikes.....get rid of one, the cost goes up? Yeah, go figure.

Location does makes a difference. Rates vary in different parts of the country because of the likelihood that bikes will be ridden year-round in the warmer climates, but parked for months in colder climates.

Rates also depend on your claim history (have any other companies paid to repair your vehicles or anyone else's vehicles because of an incident that was your fault?).

Unfortunately, it also depends on your credit score - WTF for, I have no idea, that shite never made much sense to me.

Check with Geico, too, to see if they're available in your state.
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post #23 of 67 (permalink) Old 10-04-2006, 11:31 AM
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Quote:
Originally Posted by Vengeance View Post
I can't believe people STILL HAVE NOT FIGURED THIS OUT! State FARM! You put your car on as primary, and the bike as a recreational vehicle. They rate all your accidents / tickets on the car, and the bike goes in clean. I get full coverage for 23$ a month with 100/300 all around.
Now, we be talking!
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post #24 of 67 (permalink) Old 10-04-2006, 03:25 PM Thread Starter
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i asked about just adding the bike onto my current insurance policy as my car..and they said its a totally diffrent policy...has nothing to do with the car (AIG) i only have 1 accident and a few tickets here and there...in the past 3 years..i the cheapest i found was $470 a month for 12 months...i cant justify paying for for insurane than the bike costs..i even altered my age to make me 30 years old just to see if it would change and it went down to 270 a month. still too much!! i dont understand..and it didnt not even ask for my DL #....!?!?!?!?!?!!
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post #25 of 67 (permalink) Old 10-04-2006, 03:44 PM
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Originally Posted by LeoGSVT View Post
i asked about just adding the bike onto my current insurance policy as my car..and they said its a totally diffrent policy...has nothing to do with the car (AIG) i only have 1 accident and a few tickets here and there...in the past 3 years..i the cheapest i found was $470 a month for 12 months...i cant justify paying for for insurane than the bike costs..i even altered my age to make me 30 years old just to see if it would change and it went down to 270 a month. still too much!! i dont understand..and it didnt not even ask for my DL #....!?!?!?!?!?!!
I think your missing something here. So let me point it out : FORGET AIG insurance!!

obviously if thier rates are too high, you should look ELSEWHERE. like say, any of the companies mentioned in this thread that YOU started to get advice.

READ THE POSTS and apply mostly what I am seeing as places to check are- Allstate, Progressive, State Farm

Good luck

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post #26 of 67 (permalink) Old 10-04-2006, 03:56 PM
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I pay $82 a year for liability coverage on my '06 GSX-R 750. Is that good?
*batting eyelashes*
Oh... wait... You were asking the _young_ guys.

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post #27 of 67 (permalink) Old 10-04-2006, 04:21 PM
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mine is $3200 a year for full coverage but I chose liablity + comprehensive for fall/winter since I'm riding less which is $1300.

i went with Progressive and you can do a full payment once OR a 4 payment plan (4 months for about $300 ) or monthly which is around $100 for me.

I paid mine in full b/c I *hate* debt. but $100 a month if you choose monthly. Which isn't bad if you have a part-time job that earns ya $10/hour at least.


I checked State Farm-and I can't insure my car with them because my car is under my parents name and we use USAA but USAA does not insure motorcycles. My rate is based probably on my driving history (1 speeding ticket and 1 car accident-not at fault within the past 2 years) but I have really good credit. I feel mine is high but its b/c I'm young and my record isnt 100% spotless. *shrug*

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post #28 of 67 (permalink) Old 10-04-2006, 05:58 PM
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I Pay $78/yr For Liability W/progressive

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post #29 of 67 (permalink) Old 10-04-2006, 06:41 PM Thread Starter
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how old are you bigdaddy?? if you dont mind me asking
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post #30 of 67 (permalink) Old 10-04-2006, 06:50 PM
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i put it under my brothers name, he's 30 with 3 other vehicles, insurance is real cheap for me
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post #31 of 67 (permalink) Old 10-04-2006, 06:53 PM
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Originally Posted by silverbullet2005 View Post
Oh I forgot to mention that Nationwide insurance was second best at $1750 a year. I am 25 by the way.
I agree, try going through Nationwide Insurance. That $1750 is rather high in my opinion. I've only had my motorcycle liscense for two months, got a 600 Gixxer K6, and my rate is only $204 every six months, full coverage. These guys base it on your automobile record so even though you have a couple of speeding tickets, it still might be your worthwild to give them a call as it still might be lower. Let's put it this way, I pay less insurance because of them on my 600 than before when I had my 250 ninja through 21th Century.

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post #32 of 67 (permalink) Old 10-04-2006, 06:57 PM
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Fuck insurance they have to catch me first
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post #33 of 67 (permalink) Old 10-04-2006, 07:46 PM
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im payin $2,200 for full coverage on a 1k 06 and i got no points and have been ridings since i was 18 and im 22 now. i was paying 700 a yr for my r6 and my brother pays like 900 a yr on a 02 750 and he just got his license. so cc's def play the biggest role in all of this i think
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post #34 of 67 (permalink) Old 10-04-2006, 09:05 PM
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Well, since nobody can text message Mark Foley anymore, times are gunna get tough for the old insurance bill.

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post #35 of 67 (permalink) Old 10-04-2006, 09:33 PM
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Talking Funny!



Gosh, I am so tired of hearing his name on the news, anyone else!?!

I mean, enough is enough!
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post #36 of 67 (permalink) Old 10-04-2006, 09:41 PM
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you can always donate blood and plasma to pay for the insurance!!!
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post #37 of 67 (permalink) Old 10-04-2006, 09:42 PM
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Talking Or...........

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you can always donate blood and plasma to pay for the insurance!!!
Get a 4th job!
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post #38 of 67 (permalink) Old 10-04-2006, 10:00 PM
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I use State Farm Insurance, they go by the CC's and I had no problems about my tickets. Most other insurance companys go by the style of the bike.
Hah, I have state farm and it's funny how they go by CC's because they wanted more for an SV650S than for the GSXR 600!
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post #39 of 67 (permalink) Old 10-04-2006, 11:03 PM
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Hah, I have state farm and it's funny how they go by CC's because they wanted more for an SV650S than for the GSXR 600!
I believe another factor that comes into the overall equation is the statistics which spell out the number of claims they've had on certain bikes within the various "CC" categories. Something to consider!
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post #40 of 67 (permalink) Old 10-05-2006, 12:50 AM
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you can always donate blood and plasma to pay for the insurance!!!
that also you gives you some insurance in the fact that you know there are at least a couple bags of blood that will match your type if ya go down

oh and i pay for the insurance byusing my birthday money and some of the money i saved by not getting a newer or pristine condition bike. of course my insurance is only 518 a year for full with comp/collision/uninsured motorist/ $500 deductibles when i added my truck.
Without a truck it was $1018.

oh and i am 20, no past history and it is my 1st bike

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