Sup everybody,

I own a 1996 Honda cbr f3 that rides and looks pretty good for its time. I would love to upgrade to a newer bike that has aluminum frame and fuel injection for reliabilty. How are the younger riders 18-21 affording the insurance on these newer bikes(2003 - and up). The quotes that I have gotten with a good driving record is enough to make me want to sell my bike and get out of the motorcycle game! Right now the insurance is in my sisters name and I pay $25 a month compared to $170 in my name. Is there somthing I dont know with insurance, Are rich kids the only one's who can afford a newer bike? Do i have to put my insurance in someone else name untill im 25?

 

It depends on the area your in and your record. To give you an idea Progressive wanted 740.00 a month yes A MONTH to fully insure my 09 600RR. I had 1 ticket for speeding. My record is now clean and to fully insure my bike i pay 220.00 a month. That is with my military discount to. You just gotta look around to find a good deal. Dont do online quotes cause those things suck. Call and talk to a person. 170.00 a month though?! I would effin dig that! haha

 

Thanks for the reply. I guess ill wait untill riding season starts up here in South carolina and go talk to the Insurance places at there office. The only places ive looked was online. I want to get my own insurance in my name to be legal and reduce the chance of any risk that might get my sister in trouble legally. Im twenty one and have a house so i could possibly combine my insurance. Thanks again

 

21 yrs old. with liability only. 150 a year on the 1000rr. 100 a year on the F3. Yet i got some extra coverage cause the guy was really nice. He went up to the next level of protection and tried to sell me roadside assistance. I told him i had AAA so there is no way...he just added it on for free then. I love my baby but there is no way i can afford full coverage while going to school. :/

 

There are a bunch of threads on here about Insurance. Read them and understand the difference between Liability, Comprehensive, Collision - that way you can make an informed decision on what coverage you need.

Lots of guys here don't carry full coverage - only the liability piece. I am one of them because I am NEVER going to make a claim on a $3k motorcycle. A claim for me would cost me more in the long run insuring other toys than loosing the bike in it's entirety. Therefore I just figure if I turn the bike into scrap metal, I will just part it out, and consider it a loss/lesson learned.

 

^^^ Very good recommendation. Be sure to add *Medical Coverage* that mix as well.

 

Thanks for the suggestions and comments everybody. Im doing some research and understanding the terms. Ill start there and see what I can do.RevilingFool what year 1000 do you have? Thats not bad at all. Thanks Seafordguy and Gotcbr.

 

I have an 02 f4i, and I pay $250/year for full coverage....Thats with 1 speeding ticket too.

 

I've posted this on other threads - but a riding buddy of mine is a powersports/RV/ATV claims adjuster for Progressive, he shared something with me:

Many times when the dealer sells a bike to a younger rider (that would be paying an arm and a leg for full coverage), they offer to do the financing through the manufacturer's credit arm. What happens though is that the loan is really a big pre-approved credit card, with a promotional balance or interest rate on it. Selling point is now that the bike has basically been "purchased" on a credit card, the bike is not subject to a lien - the owner owns it free and clear. Since they own the bike, they don't have to carry full coverage, just liability to keep the payments down.

Prob is 6 months down the road when that 20 year old slides that $12k literbike down the road and into a car and a fence, they call my buddy to come look at it. He says, "ok we'll pay to fix the car you hit, medical damage for the people inside claiming neck injuries, and the fence you flew through." The 20 year old says "what about my bike?" My buddy says, "cant do anything for you there, your bike itself wasn't insured." Then it sinks in that they still have to pay for the totalled bike - and in another3-4 months that "12-month same as cash" financing promotion wears off, and they'll be paying even more a month.

That's where the 20 year old either threatens legal action (that usually never happens), or gets his parents involved. (way to man up for your mistakes there sonny!)

 

Oh - and my rates recently changed on my 92 F2 - State Farm actually lowered them all the way from $4.86 a month to $3.78. Liability only - but at that point I think my account might be costing them more a year in printing me a bill, processing payments and keeping my account on file.