What do you pay for insurance?

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Originally Posted by gumby

cbr-chick-nh... who is your coverage with?
I think you could save a lot elsewhere, even with your lengthy record.

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state farm. I've had quotes from other companies (progressive, geico and ... Someone else?) which were all higher. My record has left me in a very high risk category. At one point I had to carry 2 policy's, one by State Farm and one by a sister company. :( i can't remember what it's called... (the risk category that is)

I just bought a house. Should I get an umbrella policy for everyhting?

I think I'm being fucked over. Commerce has me at $710/year with full coverage, collision, theft, $1m/$1m on a K8 GSXR600. I've never gotten a moving violation, I have 0 points on my record, 9 years with my driver's license, and 2 with my M endorsement. My last surchargeable accident was in 2006. :/

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Originally Posted by katina

I think I'm being fucked over. Commerce has me at $710/year with full coverage, collision, theft, $1m/$1m on a K8 GSXR600. I've never gotten a moving violation, I have 0 points on my record, 9 years with my driver's license, and 2 with my M endorsement. My last surchargeable accident was in 2006. :/

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Where are you located though? That can have a huge factor on your rate.

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Originally Posted by cbr_chick_nh

state farm. I've had quotes from other companies (progressive, geico and ... Someone else?) which were all higher. My record has left me in a very high risk category. At one point I had to carry 2 policy's, one by State Farm and one by a sister company. :( i can't remember what it's called... (the risk category that is)

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Do you also have your auto and homeowners with State Farm?
If you haven't already, shop around based on everything being insured with that company versus the bike alone.
I have my policies arranged this way and you should get substantial savings doing this.

$900/yr on 2 bikes for the wife and I, ('99 R6 & '98 Superhawk), through Liberty Mutual. 50/100K all around, and collision and comprehensive on both plus the optional 5K in medical payments. 1 speeding ticket, (me), and 1 minor accident, (her).

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Originally Posted by G21forme

His bodily injury and property damage is so low he could be held responsible for any and all financial losses suffered by another party from an accident he caused. When it comes to property and medical care 50k is nothing and even though the other party may have auto and medical insurance those companies will look to his to foot the bill. If that bill exceeds 50k then he is then on the hook for the rest, that's why I have 1,000,000$ coverage, not that I'm rich because I'm poor but if you own a home you can kiss it goodbye.

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does homesteading protect you from this? I hope so. I just homesteaded my house.

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Originally Posted by gumby

Do you also have your auto and homeowners with State Farm?
If you haven't already, shop around based on everything being insured with that company versus the bike alone.

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everything. Bikes, cars, life, home and personal belongings :)

I have just state minimums for liability in CT. No tickets or accidents. For my 08 FZ6 I pay $145 a year through Dairyland.

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Originally Posted by Dip Dungles

Where are you located though? That can have a huge factor on your rate.

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South Peabody. Regular, suburban, middle class sleepy community.

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Originally Posted by pontifex

I just bought a house. Should I get an umbrella policy for everyhting?

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It's prudent to have a $1 million umbrella policy... especially if you have equity in your home or any other assets.

$60 a month, so figure $720 a year on my 2006 600rr. Mind you, I've gotten a few too many tickets this last year, killing my $336 I was paying before :(

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Originally Posted by Maxx11

That insurance quote is pretty good compared to other insurance quotes I have seen on the web. What company is that?

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Nice spam.

ETA: TheIglu just removed the link. Ban him anywho.

Back on topic - I don't get why people ride or drive with minimum liability. Doesn't matter how careful or how good a driver you think you are - you get in an accident, chances are some douchebag will sue you, even if it's not your fault. Paying several hundred thousand over the next 20 years of your life isn't worth saving $100 a year.

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Originally Posted by pontifex

I just bought a house. Should I get an umbrella policy for everyhting?

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I think you have confusion about what an umbrella policy is

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Originally Posted by Evadd

Back on topic - I don't get why people ride or drive with minimum liability. Doesn't matter how careful or how good a driver you think you are - you get in an accident, chances are some douchebag will sue you, even if it's not your fault. Paying several hundred thousand over the next 20 years of your life isn't worth saving $100 a year.

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Well I guess depends on how you look at it.. it's all a gamble. See, with my 05 R6 I had everything I could get.. and I have a fantastic record, live in Natick.. etc etc. The full price was around $600.

Now, drop the 5K/person liability ie.. if your "bike flies into a pedestrian" then it drops about $120 automatically. Yes in the long run $120 isn't a lot, but then we're talking about $480/year. Increase some of the deductibles, lower to minimum state coverage then you're down to $350ish/year.

Then you decide if you even care about the comprehensive if you are at fault.. ie if your bike will be repaired by the ins co if its your fault. This is another huge one which can be more like $180/year. which means I'm saving somewhere around $300-$400/year.

So, why did I end up doing this? Partially because I don't ride my bike enough... if I rack up a couple thousand miles a year that's fine. I feel that I don't drive dangerously enough and haven't had enough "close calls" that I think there's a target on my back.

If I am fine for another.. 5 years, let's say the savings of $2K would pay for my bike itself if I ended up crashing it.

I just think.. it's a gamble either way, but I hate paying so much money to insurance.

Edit: Sorry I forgot to mention now that I got a 93 fireblade, so the cost of the bike alone is so much less than the R6, yet the insurance policy isn't that much less (probably because of the increase in cc's of the bike).