How do you young guys afford insurance?? : GSXR.com Forum : Suzuki GSX-R Forums
 
» Insurance
» Suzuki GSX-R Prices
» Sponsors
Go Back   GSXR.com > Chat > General GSXR Chat

Reply
 
Thread Tools Display Modes
Old 10-03-2006, 10:25 PM   #1
LeoGSVT
Squid
 
Join Date: Sep 2006
Posts: 14
Default 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 : ( : (
LeoGSVT is offline   Reply With Quote
Sponsored Links
Advertisement
 
Old 10-03-2006, 10:46 PM   #2
MindTrip
Rider
 
MindTrip's Avatar
 
Join Date: Sep 2006
Location: San Antonio, TX
Posts: 153
Default

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.
MindTrip is offline   Reply With Quote
Old 10-03-2006, 10:49 PM   #3
04GSXR750
Rider
 
04GSXR750's Avatar
 
Join Date: Aug 2005
Location: Illinois
Posts: 171
Default

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
04GSXR750 is offline   Reply With Quote
Old 10-03-2006, 11:05 PM   #4
Solex159
Racer
 
Solex159's Avatar
 
Join Date: Aug 2006
Location: Tallahassee FL
Posts: 995
Default

ALLSTATE ALLSTATE ALLSTATE ALLSTATE ALLSTATE

your in good hands
__________________
Never fry bacon without a shirt on
Solex159 is offline   Reply With Quote
Old 10-04-2006, 12:00 AM   #5
GixxerChris
Rider
 
GixxerChris's Avatar
 
Join Date: Aug 2006
Location: East Coast Florida
Posts: 136
Default

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.
GixxerChris is offline   Reply With Quote
Old 10-04-2006, 04:54 AM   #6
nayber
Novice
 
nayber's Avatar
 
Join Date: Feb 2006
Location: wichita
Posts: 58
Default

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
nayber is offline   Reply With Quote
Old 10-04-2006, 06:05 AM   #7
peanut326
Pro Racer
 
peanut326's Avatar
 
Join Date: Sep 2005
Location: Frederick, MD
Posts: 1,787
Default

Quote:
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
peanut326 is offline   Reply With Quote
Old 10-04-2006, 06:15 AM   #8
Gixxer clutch
Rider
 
Gixxer clutch's Avatar
 
Join Date: Aug 2006
Location: Philadelphia
Posts: 224
Default

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...
__________________


Gixxer Clutch
2006 GSXR 600

Past Bikes
2006 Honda F4i

www.myspace.com/agrownman
www.cyclespace.com/735
Gixxer clutch is offline   Reply With Quote
Old 10-04-2006, 06:44 AM   #9
gixxer
Novice
 
Join Date: Jun 2005
Posts: 43
Default

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.
gixxer is offline   Reply With Quote
Old 10-04-2006, 07:13 AM   #10
Smcneally
Racer
 
Smcneally's Avatar
 
Join Date: Mar 2006
Location: Connecticut
Posts: 959
Default

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.
__________________
GSX-R 600cc 2k6 blue
STOLE 4/28/06,F 5/1/06,REPAIR 6/23/06
Previous: '04 GS500
Smcneally is offline   Reply With Quote
Old 10-04-2006, 08:06 AM   #11
RubbertoRoad
Novice
 
RubbertoRoad's Avatar
 
Join Date: Sep 2006
Location: St. Louis, MO (West Side)
Posts: 95
Default

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.
__________________
Words to live by from Grandpa: If it has tits OR tires, it WILL cause you problems.
RubbertoRoad is offline   Reply With Quote
Old 10-04-2006, 08:14 AM   #12
russ750
Novice
 
Join Date: May 2006
Posts: 39
Default cheap insurance?

I go through state farm and its really cheap couldn't believe the deal I was getting!
russ750 is offline   Reply With Quote
Old 10-04-2006, 08:20 AM   #13
Hayes
Rider
 
Join Date: Sep 2006
Posts: 235
Default

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.

Brandon
Hayes is offline   Reply With Quote
Old 10-04-2006, 08:27 AM   #14
SoK
Pro Racer
 
SoK's Avatar
 
Join Date: Apr 2006
Location: Northern KY
Posts: 3,678
Default

liability w/ progressive, 31.13 a month
__________________
Insurance Sales - 2001 GSXR 600
SoK is offline   Reply With Quote
Old 10-04-2006, 08:36 AM   #15
LeoGSVT
Squid
 
Join Date: Sep 2006
Posts: 14
Default

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...
LeoGSVT is offline   Reply With Quote
Old 10-04-2006, 08:50 AM   #16
silverbullet2005
Rider
 
silverbullet2005's Avatar
 
Join Date: Sep 2006
Location: Flushing, Michigan
Posts: 125
Default

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.
silverbullet2005 is offline   Reply With Quote
Old 10-04-2006, 09:04 AM   #17
612gixxer
Pro Racer
 
612gixxer's Avatar
 
Join Date: Aug 2006
Posts: 1,124
Default

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.
612gixxer is offline   Reply With Quote
Old 10-04-2006, 09:07 AM   #18
Turkish
Novice
 
Turkish's Avatar
 
Join Date: Oct 2006
Location: KC
Posts: 28
Default

where do you live? i have heard that can make a difference too.
__________________
GSXR 750 4 LIFE
Turkish is offline   Reply With Quote
Old 10-04-2006, 09:08 AM   #19
Turkish
Novice
 
Turkish's Avatar
 
Join Date: Oct 2006
Location: KC
Posts: 28
Default

Quote:
Originally Posted by SoK View Post
liability w/ progressive, 31.13 a month
also, liability w/ progressive, 34.00 per month
__________________
GSXR 750 4 LIFE
Turkish is offline   Reply With Quote
Old 10-04-2006, 10:44 AM   #20
flhandster
Banned
 
Join Date: Jul 2006
Posts: 744
Angry Outrageous!

Quote:
Originally Posted by LeoGSVT View Post
..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!
flhandster is offline   Reply With Quote
Old 10-04-2006, 10:58 AM   #21
Vengeance
Pro Racer
 
Vengeance's Avatar
 
Join Date: Jun 2006
Location: San Diego, CA
Posts: 1,204
Default

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.
Vengeance is offline   Reply With Quote
Old 10-04-2006, 11:15 AM   #22
gixxer750girl
Pro Racer
 
gixxer750girl's Avatar
 
Join Date: Sep 2006
Posts: 7,163
Default

Quote:
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.
gixxer750girl is offline   Reply With Quote
Old 10-04-2006, 11:31 AM   #23
flhandster
Banned
 
Join Date: Jul 2006
Posts: 744
Thumbs up Oh Yeh!

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!
flhandster is offline   Reply With Quote
Old 10-04-2006, 03:25 PM   #24
LeoGSVT
Squid
 
Join Date: Sep 2006
Posts: 14
Default

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 #....!?!?!?!?!?!!
LeoGSVT is offline   Reply With Quote
Old 10-04-2006, 03:44 PM   #25
Solex159
Racer
 
Solex159's Avatar
 
Join Date: Aug 2006
Location: Tallahassee FL
Posts: 995
Default

Quote:
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
__________________
Never fry bacon without a shirt on
Solex159 is offline   Reply With Quote
Old 10-04-2006, 03:56 PM   #26
Shag
Rider
 
Shag's Avatar
 
Join Date: Aug 2006
Location: Fuquay Varina, NC
Posts: 194
Default

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.
__________________
"That's how I roll."
'06 GSX-R 750
Two Brothers CF Slip-On
Pilot Powers
-1+2 Vortex Sprockets
Homemade tail cleanup
Heated grips
Shag is offline   Reply With Quote
Old 10-04-2006, 04:21 PM   #27
XoXoAMY
Squid
 
XoXoAMY's Avatar
 
Join Date: Oct 2006
Posts: 13
Default

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*
__________________
sorry we do not allow links to porn on this site.. please visit the site rules for more details
-Staff

2005 suzuki gsxr 600

Last edited by XoXoAMY; 10-04-2006 at 04:24 PM.
XoXoAMY is offline   Reply With Quote
Old 10-04-2006, 05:58 PM   #28
bigdaddy5964
Rider
 
bigdaddy5964's Avatar
 
Join Date: Jan 2006
Location: san antonio, tx
Posts: 492
Default

I Pay $78/yr For Liability W/progressive
__________________
http://www.myspace.com/delao
bigdaddy5964 is offline   Reply With Quote
Old 10-04-2006, 06:41 PM   #29
LeoGSVT
Squid
 
Join Date: Sep 2006
Posts: 14
Default

how old are you bigdaddy?? if you dont mind me asking
LeoGSVT is offline   Reply With Quote
Old 10-04-2006, 06:50 PM   #30
bigserb3
Novice
 
Join Date: Feb 2006
Posts: 42
Default Gota Love Family

i put it under my brothers name, he's 30 with 3 other vehicles, insurance is real cheap for me
bigserb3 is offline   Reply With Quote
Old 10-04-2006, 06:53 PM   #31
goddsmack
Rider
 
goddsmack's Avatar
 
Join Date: Sep 2006
Posts: 165
Default

Quote:
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.
__________________
-2006 GSX-R600, Silver and White
My caggers:
-2005 Acura TSX 6MT Navi
-2002 Toyota TRD Tundra 4x4
goddsmack is offline   Reply With Quote
Old 10-04-2006, 06:57 PM   #32
YZF-R622186
Squid
 
Join Date: Sep 2006
Posts: 4
Default

Fuck insurance they have to catch me first
YZF-R622186 is offline   Reply With Quote
Old 10-04-2006, 07:46 PM   #33
brian88195
Squid
 
Join Date: Sep 2006
Posts: 23
Default

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
brian88195 is offline   Reply With Quote
Old 10-04-2006, 09:05 PM   #34
slack0Yd
Racer
 
slack0Yd's Avatar
 
Join Date: Mar 2005
Location: Newport News, VA
Posts: 783
Default

Well, since nobody can text message Mark Foley anymore, times are gunna get tough for the old insurance bill.

slack0Yd is offline   Reply With Quote
Old 10-04-2006, 09:33 PM   #35
flhandster
Banned
 
Join Date: Jul 2006
Posts: 744
Talking Funny!



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

I mean, enough is enough!
flhandster is offline   Reply With Quote
Old 10-04-2006, 09:41 PM   #36
ThunderChicken
Rider
 
Join Date: Apr 2006
Location: gonzales,la.
Posts: 311
Default

you can always donate blood and plasma to pay for the insurance!!!
ThunderChicken is offline   Reply With Quote
Old 10-04-2006, 09:42 PM   #37
flhandster
Banned
 
Join Date: Jul 2006
Posts: 744
Talking Or...........

Quote:
Originally Posted by ThunderChicken View Post
you can always donate blood and plasma to pay for the insurance!!!
Get a 4th job!
flhandster is offline   Reply With Quote
Old 10-04-2006, 10:00 PM   #38
porsche4786
Rider
 
porsche4786's Avatar
 
Join Date: Sep 2006
Location: portland, oregon
Posts: 110
Default

Quote:
Originally Posted by gixxer View Post
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!
porsche4786 is offline   Reply With Quote
Old 10-04-2006, 11:03 PM   #39
flhandster
Banned
 
Join Date: Jul 2006
Posts: 744
Lightbulb Consideration

Quote:
Originally Posted by porsche4786 View Post
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!
flhandster is offline   Reply With Quote
Old 10-05-2006, 12:50 AM   #40
05Gixxer King
Racer
 
05Gixxer King's Avatar
 
Join Date: Jul 2006
Location: Portland,OR and Tempe,AZ
Posts: 686
Default

Quote:
Originally Posted by ThunderChicken View Post
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
__________________
06 GSXR 600 Blue/White
05 GSXR600-Gone Stolen and totaled 10-26-06
RIP Keith Wegner

Last edited by 05Gixxer King; 10-05-2006 at 01:11 AM.
05Gixxer King is offline   Reply With Quote
Sponsored Links
Advertisement
 
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Powered by vBadvanced CMPS v3.2.2

All times are GMT -7. The time now is 07:55 PM.



Powered by vBulletin® Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Copyright 2007 2008 GSXR.com
Motorcycle News, Videos and Reviews
Honda Grom Forum Harley Davidson Forum Honda 600RR Kawasaki Forum Yamaha R6 Forum Yamaha FZ-09 Forum
1199 Panigale Forum Roadglide Forum Honda CBR1000 Forum Vulcan Forum Yamaha R1 Forum Yamaha R3 Forum
Ducati Monster Forum Harley Forums Honda CBR250R Forum ZX10R Forum Star Raider Forum Yamaha Viking Forum
Suzuki GSXR Forum V-Rod Forums Honda Shadow Forum Kawasaki Motorcycle Forum Star Warrior Forum KTM Duke 390 Forum
SV650 Forum BMW S1000RR Forum Honda Fury Forum Kawasaki Versys Forum Drag Racing Forum Ducati 899 Panigale Forum
Suzuki V-Strom BMW K1600 Triumph Forum Victory Forums Sportbikes BMW NineT Forum
Volusia Forum BMW F800 Forum Triumph 675 Forum MV Agusta Forum HD Street Forum Suzuki GW250 Forum
Yamaha Motorcycles Victory Gunner Forum Honda Vultus Forum HD LiveWire Forum