Insurance question

[glib]

I have had Hagerty for insurance since I bought my first GS four years ago and it is really cheap--about $150/yr for two bikes including physical damage. Now my 19 yr old son is showing interest again and may buy a bike soon. Of course he'll want a 600 sport bike. Hagerty will not want a 19 year old driver or a 600 sport bike as far as I know. Another 19 yr old who was riding with me and some friends on Sunday (he was driving the wheels off a Burgman 650) said that since he was on a Progressive policy with his dad, his (now sold) 600 was only costing him $300/yr. Does anyone have any experience with getting a young driver insured without having to reduce lifestyle to make payments to an insurance company?

 

[Nessism]

Liability insurance for a motorcycle is cheap because the bike itself isn't likely to hurt other people and/or cause a ton of properly damage. I'd just get some quotes and go from there. And forget about anything other than maybe liability and comprehensive (fire & theft). Collision coverage will cost you big so forget about that.

 

[Big T]

Well, the obvious answer is that if he can't afford the insurance, he can't afford the bike, in other words, have him shop for his own insurance.

That's what I did when my 18 year old wanted a bike. He bought a VFR 800 and I know the 1st year cost him a bunch.

Now that he's 21, insurance cost dropped considerably.

I'd be more concerned about him getting a 600 supersport. Is it his 1st bike?

 

[bobgroger]

Medical is the biggest cost with bike insurance. I went from 10k to 5k and saved about half. Really hoping my general medical takes up the slack.....

 

[glib]

Well, the obvious answer is that if he can't afford the insurance, he can't afford the bike, in other words, have him shop for his own insurance.

That's what I did when my 18 year old wanted a bike. He bought a VFR 800 and I know the 1st year cost him a bunch.

Now that he's 21, insurance cost dropped considerably.

I'd be more concerned about him getting a 600 supersport. Is it his 1st bike?

He pays his own way. Very responsible and an excellent driver. Not worried about dumbass behavior. I suggested a three hundred but even with a 600 there isn't much torque down low so I think it'll be good on the street and an easy transition to track days. I saw a kid drive a Burgman 650 like he was invincible and was shaking my head. The bike won't get him in trouble if his brain is engaged.

 

[Nessism]

Even older 600's are rocket ships. More power than a GS1000 and 100 lbs lighter.

If your son already has medical insurance then all he needs is liability and maybe uninsured motorist.

 

[glib]

Even older 600's are rocket ships. More power than a GS1000 and 100 lbs lighter.

If your son already has medical insurance then all he needs is liability and maybe uninsured motorist.

I'm aware. Truth is, I'm more concerned that he'll be intimidated and lose interest than I am that he'll act irresponsibly.

 

[Big T]

With insurance, he'll just have to call around to see what kind of deal he can get.

I know Progressive quoted my son a premium about 3 times what he ended up with.

A SV 650 may be a better choice

 

[glib]

With insurance, he'll just have to call around to see what kind of deal he can get.

I know Progressive quoted my son a premium about 3 times what he ended up with.

A SV 650 may be a better choice

Who did he end up using?

 

[glib]

In Mass much of the expense is having coverage for the un-insured and under-insured folks who may hit you. I could care less about the value of my bikes. It's long term debilitating injuries I'm worried about.

I'm surprised CA is so inexpensive. Is that just for 4 months i.e. take it off the road in winter?

We can ride for about eight months where I am. Hagerty is especially cheap because they are for classics and have some limitations on riding.

 

[Big T]

My son says $300/yr is about right

 

[Guest]

Moved to New Mexico, no body has insurance here it seems like:chargrined:

 

[glib]

My son says $300/yr is about right

Thanks. It looks like the price goes up quick with any extra coverage.

 

[argonsagas]

This is an interesting thread, because of the comparison in costs.. The three hundred dollar figure, especially.

In the Toronto area a 19 yo with a 600cc sport bike as his first ride would likely find insurance at ten times that cost to be a bargain.

I have met riders who pay over $5k a year!

When I bought my first GS, the 1100G, I had a long argument with the insurer that I had been with for years as they insisted it was a sport bike and refused to insure it. Eventually they accepted it, but wanted over $1k for the first year. That was 1998 or 99. Almost 20 years later my insurance has gone down to $550/yr for the current Bandit/GSX1250FA

 

[glib]

This is an interesting thread, because of the comparison in costs.. The three hundred dollar figure, especially.

In the Toronto area a 19 yo with a 600cc sport bike as his first ride would likely find insurance at ten times that cost to be a bargain.

I have met riders who pay over $5k a year!

When I bought my first GS, the 1100G, I had a long argument with the insurer that I had been with for years as they insisted it was a sport bike and refused to insure it. Eventually they accepted it, but wanted over $1k for the first year. That was 1998 or 99. Almost 20 years later my insurance has gone down to $550/yr for the current Bandit/GSX1250FA

�� That must include physical damage to the bike, correct? For “full” coverage I did get a quote for $4600. Not much point in insuring a $3000 bike by paying over 100% of its value each year to the insurance company.

 

[earlfor]

I pay $70 a year with Progressive for liability and uninsured motorist on the Bandit 12. Been with them for bikes for 20+ years, no claims or accidents, or tickets.

 

[glib]

I pay $70 a year with Progressive for liability and uninsured motorist on the Bandit 12. Been with them for bikes for 20+ years, no claims or accidents, or tickets.

This would be for a 19 year old though—new motorcycle endorsement.

 

[Nessism]

This would be for a 19 year old though—new motorcycle endorsement.

Yes, but motorcycle guys don't typically crash into cars and cause property damage, and they only very rarely cause someone physical harm. That's why motorcycle liability coverage is so cheap.

 

[glib]

Yes, but motorcycle guys don't typically crash into cars and cause property damage, and they only very rarely cause someone physical harm. That's why motorcycle liability coverage is so cheap.

Agreed. I'm sorry that my son gets lumped in with the crazies though. He is not a risk taker like you see in the videos of riders wheelieing down two lane roads into oncoming traffic and such. You can fall asleep in the car with him at the wheel. Of course, accidents are still possible so insurance is necessary but he'll pay more than he should because of the demographic. No way around it really.

 

[jdion81]

�� That must include physical damage to the bike, correct? For “full” coverage I did get a quote for $4600. Not much point in insuring a $3000 bike by paying over 100% of its value each year to the insurance company.

Wow, $4600.... wth. I know I'm not 19, but I just got comprehensive & collision coverage with $100 deductible on each for $274 per year.