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.