Insurance Question

[HBerry]

Just wondering what you all use for insurance. I am planning on purchasing a ZX-6R soon and am signed up for the MSF course in august.

I am 19 years old and currently have 2 accidents and 1 ticket on my record.

I have looked at progressive so far but they seem a little outrageous...around 2500 a year?

[benVFR]

Are you buying a new ZX-6 with a loan and are being forced to take out full coverage?

At 19 with no experience and a history of car accidents you are probably way better off getting a used bike without a loan and only taking out a liability & medical policy.

The insurance company knows you are going to smash up that nice shiney ZX-6, they have no choice but to offer you a high premium.

I used Geico and Progressive when I was living in Nashua. Progressive was actually cheaper if I recall correctly.

I was 23 when I started with no accidents on my record, and I got an SV650 and I paid $900 the first year for full coverage. Oh... and yep, I crashed it and the insurance company got to write a check for $2500 that year, imagine that. Luckily I got no ticket for the accident and it didn't really hurt me. I should have followed the advice of others and gotten a used beater.

The reasoning for the high premium is almost completely your age, record, and choice of bike, as Nashua is one of the safest & lowest theft cities in the country.

Ben

[Ducrappy]

FOr what its worth, I've been shopping around for a different carrier. I recently had Progressive as my insurance, but had to deal with a lot of BS recently when I had a total loss claim on my bike. It seems that in my case, AllState is cheaper, but I'm 25, no tickets and 1 not chargable at fault accident. Even though its a few years away from you, that magical age of 25 when your insurance drops significantly seems to only apply to AllState. I've seen no decreases from Progressive yet. Good luck

[benVFR]

Just be thankful you are not in MA...

Mine dropped down to $500 my second year in NH.

Then I moved to MA and it went up to $1000 even though I was into my 3rd riding season with no more accidents or tickets.

Edit:

One other thing.. do you live with your parents? Does your dad have a bike? My brother is 19, and got his motorcycle license right on his 16th birthday. He's been riding for the last 3 years and has never had an accident or even a parking lot drop. (He had dirt bike experience which I did not) When he gets a quote for buying a bike he still can't afford it. But if he is listed as a secondary driver of my father's bike (an old cruiser), it is much less. So he ends up riding that bike.

That may not be legal in NH though.

Ben

[snowborder]

progressive is the highest insurance for sportbikes. Seems they only like to insure cruisers and harleys and small cc bikes.

I pay $400 for full coverage for 6 months in NH and 6 months storage. Liberty Mutual and All State were fairly close for quotes. I went with LM

but being 19 and that history already will cost you!!!

[HBerry]

Ok a few replies at once here:

Yes I understand I am an idiot for buying a new bike which requires financing because I will drop it and its probably too powerful for me to start on ect.

I have however decided that I want to buy this bike and this is a decision I am sticking with. Because it is a new bike I will be forced to carry full insurance on it which I understand is more expensive.

I do live at home with my parents but they in no way support me getting a bike nor do either of my parents ride a bike so that doesnt help very much!

As for the waiting until I'm 25, I am completely (sp?) unwilling to do so! I have wanted a bike for 3+ years and waiting another 6 is out of the question

As for the person that said Geico, there website says they do not insure NH motorcyclist drivers so I cannot go that route.

As for the accidents/speeding ticket on my record, they will be gone in 1-2 years so I know my insurance will decrease dramatically at that point, but again I am unwilling to wait.

Thank you for all your input!

[Honclfibr]

Originally posted by HBerry
Yes I understand I am an idiot for buying a new bike which requires financing because I will drop it and its probably too powerful for me to start on ect.

So do the insurance companies.

Next question, please.

[HBerry]

Good Point, I guess I will just get screwed for the next few years...

Ah well, I want the bike.

[benVFR]

Eh... if you can get past it, having a slightly used bike and a pocket full of $$ is a lot more cool than having a shiny new bike and being broke.

No sense in being screwed if you can find a used bike that will suit you just as well.

There are lots of used ZX-6s floating around. The last generation ones still look really cool, and they are just as stupid fast as the new ones for a beginner.

(Note that I am not real smart about taking my own advice)

Ben

[Honclfibr]

Originally posted by benSV
Eh... if you can get past it, having a slightly used bike and a pocket full of $$ is a lot more cool than having a shiny new bike and being broke. (Note that I am not real smart about taking my own advice)

You don't say!

[HBerry]

Serveral things here that I know will all be shot down:

First is that I like (but usually do no have) the newest and shinyest (sp?) thing available and this is an oppurtunity for me to do so. (Yes I understand that I sound like a squid, but my intent is not to drive this around Nashua and show off to high school girls, rather that I like my things to look nice and I do actually intend to ride this bike to its (or my) best ability)

Second I am concerned that the pervious owner of a used bike beat the hell out if it/had no idea what they were doing/something is horribly wrong with the bike.

Third is, well I dont have a third point.

[Suf Daddy]

I got a $300 quote from AAA (on top of my MAss auto policy, already @ ~$1000 / two OLD cars.)

I'll see if that's for real when I sign up later.

~14 Step 35YRs Al Bundy type...............

[HBerry]

So does that mean $1300 a year for your bike, or is that for a bike and two cars?

I am a member for AAA so I can check there also!

[Honclfibr]

Originally posted by HBerry
I do actually intend to ride this bike to its (or my) best ability)

Have you ever been up to the track at Loudon? It's not more than an hour from nashua, probably. Some of the racers up there ride pretty close to stock 636s. You might be surprised at what that bikes abilities are...

Anyway, to answer your original question, I use Liberty Mutual. I pay $125 a year on one bike (87 EX500) and $135 a year for the other (98 zx6r), for liability and comprehensive coverage. If I remember right it was about another 500 a year to add collision to the 6r.

[elaineo]

if you are a AAA member definitely try them for insurance; they were able to get me much lower rates than anyone else i tried.

$100 in Los Angeles for an 98 500 when i was 20 and no accidents and no tix
$80 in Boston for a 2001 EX250 when i was 21 with 2 accidents on my record
$250 in Los Angeles for a 2001 f4i when i was 22 with 2 accidents on my record

first two were liability only, third one includes comprehensive coverage.

also AAA gives you a 10% discount if you have that thing saying you took MSF, but i lost mine so i didn't get the discount

[benVFR]

I don't think he qualifies for the female discount.

Damn I'm jealous.

Ben

[Buddhaman]

Originally posted by HBerry
I do actually intend to ride this bike to its (or my) best ability)

It takes years of experience to even get close to riding to that bikes ability. So just stick to riding to your ability

[HBerry]

I am taking the MSF in August so that will help out.

Maybe Ill pretend to be my girlfriend and get the female discount

As far as riding to the bikes abilities, thats what I meant when I said (or my) meaning to mine up until I could handle the bike fully.

[OreoGaborio]

man... and i thought I was foolish for buying a '00 zx-6r as my first bike. At least i already have the MSF course under my belt & don't have to worry about financing it (i paid it off the day i drove her home)

btw.... if i can wait 20 years to finally get a bike (my mom tells me i've loved em since i was like 4 years old & as far as i can remember i've wanted one - even been secretly saving for one), you can wait 1 or 2 more months while looking for a good used one.... they're out there.... trust me

i know you know all the downsides to buying new & financing & are ready to throw yourself into the fire & deal w/ it.... BUT TRUST ALL OF US.... i've only been on this board for a short while, but i've been here long enough to know that these guys (& gals ) have level heads on their shoulders, know what they're talkin about & SPEAK FROM EXPERIENCE. They're tryin to do you a HUGE favor & save you ALOT of trouble.... just do yourself & us a favor & listen to em

[HBerry]

Well it appears I will be forced to look into it further anyways because I did not receive a phone call about getting the second job at school I need in order to get the bike.

I'll let everyone know what the final decision is by Saturday, and if I do buy the bike, I will be ready for the flames!

[craig]

Originally posted by HBerry
Well it appears I will be forced to look into it further anyways because I did not receive a phone call about getting the second job at school I need in order to get the bike.

I'll let everyone know what the final decision is by Saturday, and if I do buy the bike, I will be ready for the flames!

I hate to pry, but if you're going to try working 2 jobs and going to school to pay off that shiny new bike - are you going to have much time to ride? just curious - but good luck with whatever decision you make.

[HBerry]

Yes I know I did make it sound that way.

The job I currently have is only a summer job and will end at the end of the summer. That is when I would start my "second job."

What it really is, is a Resident Advisor position at UMass Lowell, basically a babysitter of people living in the dorms.

This means I will still have plenty of time to ride on the weekends, and on most weeknights.

[HBerry]

I'm also going to check with the dealership to see if they have anyone in mind that would be good.

[HBerry]

Ok well I just got word that I did get the RA job at school which means I will be purchasing, against all advice and sane thoughts, a zx-6r.

I will expect to be flamed severly now, and even worse when I drop it.

[Tarmac]

Knowing what I know now after years of doing stupid, crazy shit (and still just as dumb..) I'd recommend going with a used bike. As said, if you look hard enough you'll find a great deal. The used market has been sorta soft these last couple years and the deals are out there.

By the sounds it, you'd appreciate fixing it up nice and taking care of it. Most won't see the difference between brand new and shiny, and your well maintained used and shiny bike....the money savings will be huge!!!

Then you can spend your hard earned 2-job cash on women, road trips, track-days, cool mods, and whatever other crazy shit you're into....better than bein' broke on a new shiny bike. I didn't buy a new vehicle until late 20's and I'm still regrettin' the money wasted on that new piece of shit.

Don't forget the $1.5K you'll spend on leathers, helmet, and boots. (required for the track...)

Or...you can just do what's on your mind and go new...then when your in mid-30's, you can reflect how it went and suggest to the next 19y/o to go used...

lotsa luck