For the CBR 1k just prepare to be reamed. I pay about $350/year for my BMW and nearly 3x that for the Honda even though the BMW is much more costly to repair/replace. My 30+ year driving record is PERFECT and never had a claim in my entire life. But for a sport bike they pretty much toss your personal information out the window and assume the worst.

 

^Exactly. I think I'll pick up an 07 in a few years, when I'm outta school. (and broke)

 

Have you noticed in your travels a similar decrease in the 07's? I was thinking of picking up an '07 600 in the spring

 

I have not seen this type of decrease for 600s. I stopped by a dealership in Greensboro, NC and they had their '08 600s priced at $9,200.00 yet the '08 1000rr sitting right across from it was $8,300.00

 

Yeah insurance is high for bikes but I'm trying a new deal and have my fingers crossed. I've ridden since 1980 with zero claims for accidents, no tickets and three cars insured with one company for 16 years. When I bought my new VFR, they quoted $1,100.00 per year for full coverage. I balked and warned them if they didn't work with me I would move all my insurance to another company. They didn't and I did.
The new deal...I phoned Farm Bureau and in less than 30 mins my agent called back with quotes for our house, three cars and two motorcycles. Her quote for our cars was so low I asked her to recheck it. The savings alone covered what we were paying for our house!!! For the motorcycles, I went with liability only and I have done this my whole motorcycling life but don't like it. A few weeks later my agent called and offered better coverage for the bikes by asking me to consider adding comprehensive to each bike. This added about $50.00 to each bike and covers theft, fire and vandalism. I know riding without full coverage is a gamble but if I crack one up, I'll be paying out of pocket. Several riders I know that have full coverage would pay out of pocket to keep their rates from increasing. Later, JD

 

It depends on who the company is and how they calculate it. When I was still window shopping for my 08 CBR1000RR last month I checked the instant online quotes at Geico and Progressive. Geico was around $1,600/yr and Progressive wasn't much less. I don't care if they have cute commercials, that's ridiculous.

So, I did some Googling and it seemed that a lot of motorcycle owners recommended State Farm. I called them. For full coverage with a $1,000 ded I'm paying $470/yr. That's a little over $39 per month.

The only way I could get that low rate was to not list my wife. Apparently State Farm includes credit scores to figure rates. My wife and I are like night and day when it comes to that. It would have been $630/yr for the same coverage with her on the policy. I asked why she needed to be on it since she does not even have a motorcycle operator's license and her name is not on the title or loan. They removed her and I got the lower rate.

 

Bikes are not moving as fast as they use to. Alot of dealerships are cutting prices. I'll still never buy a new one because I hate dealerships and how they operate. I've been fortunate to find all my bikes a year old with <500 miles for ~$2000 under the best dealership prices.

 

If you own something that is only worth a few thousand dollars (0-5000) you are better off only getting liability.

Between paying the deductible and the resulting increase in premiums you will pay if you make a claim (on everything) there is NO savings in even a relatively short time. Just pay the damage out of pocket, or if the bike is trashed sell it for parts and consider it a lesson learned.

Not to mention that you never know what the future brings and you could find yourself in a hobby that you are only able to get insurance because you have no claims, or minimal claims (happened to me with my boat)