1k insurance

[sixpack577]

WTF!

I've been looking at GSXR 1k's again for a while now, and I really want an 05/06 or 09/11.
But, I can get a new 13/14 leftover for less than $12k OTD. Suzuki also has 0% for 60 months.
So $200 a month, vs higher intrest on a bank loan on an older used bike.
I checked insurance on a 14 model.
Again...WTF!!!
$358 a month Progressive!!!
$159 a month Gieco, for identical coverage!
And State Farm says call for a quote!
I'll be 38 in a few months, am married, have good credit, a class A CDl and motorcycle license, and haven't had a ticket in almost 12 years!
I sold the last 1k I had 10 years ago because the insurance was as much as the payment!
My gen2 Busa was $91 a month, and my B-King was $59. All full coverage.
Other bikes I had were liability.
I HATE insurance companies! This is absolutely absurd!
To think I could almost buy 2 bikes for the cost of insurance!
I just don't understand how they can rape people with those prices!
I refuse to pay those bastids that much.
Guess that means keep saving for a used bike and pay liability insurance.
I'de like to know what other people are paying for 1k insurance.

 

[mysql]

geico wanted $3500 for hayabusa insurance. I took off collision, so that dropped it to $500/year.

Switching to Allstate. same coverage (no collision) was $99/6 mo... I ended up dropping them later cause they doubled it after 2 years.

 

[sixpack577]

geico wanted $3500 for hayabusa insurance. I took off collision, so that dropped it to $500/year.

Switching to Allstate. same coverage was $99/6 mo... I ended up dropping them later cause they doubled it after 2 years.

Thanks, I'll check Allstate.

 

[1busa]

Sorry 2 hear that Six....and I definitely agree used and liability is the way 2 go when it comes 2 sportbikes. that's pretty much the main reason why I decided 2 do the build on my busa vs buying a new bike. Looked @ a panigale, beamer, andd a few others. The payment wasn't bad especially with money down but the insurance payment was damn near the price of the bike payment

Save up a few bucks and just take out a personal loan for the rest. You don't have 2 tell the bank/credit union the purpose of the $$$ and that way the title is in ur name and just put it on liability. I know back in the day I got approved for a Yamaha finance card through a dealership and purchased a Sportbike. They even let me insure it with liability, even the dealer couldn't believe that! not sure they do that anymore

 

[pack mule]

I have liability and theft on both of my bikes and it's approx. $160 every 6 months. I have Farm Bureau Insurance.

 

[sixpack577]

Sorry 2 hear that Six....and I definitely agree used and liability is the way 2 go when it comes 2 sportbikes. that's pretty much the main reason why I decided 2 do the build on my busa vs buying a new bike. Looked @ a panigale, beamer, andd a few others. The payment wasn't bad especially with money down but the insurance payment was damn near the price of the bike payment

Save up a few bucks and just take out a personal loan for the rest. You don't have 2 tell the bank/credit union the purpose of the $$$ and that way the title is in ur name and just put it on liability. I know back in the day I got approved for a Yamaha finance card through a dealership and purchased a Sportbike. They even let me insure it with liability, even the dealer couldn't believe that! not sure they do that anymore

Yep,
Suzuki (Sheffield Financial)started financing new bikes with only liability over a decade ago.
They said that so many people were approved for financing, but couldn't afford insurance. That it was really hurting their sales.
I wouldn't feel comfortable financing 10 or 12k and only carry liability.
Despite what I may do, all it would take is some uninsured idiot hitting me and I'de be screwed.
I have too many things I want to do. A bike payment frees up some extra money I'de otherwise half to pay up front.
Had my eye on an 87 Suzuki LT500 Quadracer basket case for a while now. Parts for them are expensive. I'de end with with 4 or 5k in a complete high performance rebuild/restore.
I've ot a 98 F250 that needs a small lift and some 33's.
I really need to get another sportbike first.
I also have a wife and daughter...and my toy money only stretches so far

 

[1busa]

I understand and ive seen you post 4 quite a while now how you want another gsxr 1000. I'm looking forward to seeing. It with the dirtbike bar setup you spoke about I would look in2 a personal loan and get a nice used bike. Better off anyways with used IMO. Only time I would buy a new bike is if it's a limited edition bike like that new yamaha R1m. Something that is truly limited in production and will be hard 2 come bye years down the road, not just graphics that say Limited and bold new graphics

 

[Don Hardcastle]

My last Busa (Gen 2) was about $55 a month full coverage thru state farm. Unless I'm mistaken they go by engine size and don't care about anything else.

 

[smac]

I just got liability insurance on my R1 for $13.00 a month through State Farm. Hope this helps.

 

[E Zurcher]

I'm paying 60 a month for full coverage through State Farm.

 

[dadofthree]

I had to pay cash for my bike and run liability only on it.

 

[fallenarch]

State Farm is good and they really cut the rates if you put everything on them. I put the house, condo, cars and bike on them and get really great rates.

 

[TallTom]

State Farm is good and they really cut the rates if you put everything on them. I put the house, condo, cars and bike on them and get really great rates.

I'll have to 2nd this. SF has been very good to me overall. And here is what worked good for me that most don't think about. And this depends on what all you have that needs protection. I got an Umbrella policy for $3M. The premium is like $15 a month. Dropped my bikes down to $300/yr for full coverage, with $250 deductible, no tickets discounts, etc. However and this could be important for you. SF will not pay out on a passenger medical. So that lessens their risk, hence the premium. But they don't tell you this. But the umbrella covers that risk.

I went to SF after GIECO became PORKU. Had a policy in effect with SF for like a month, when I dropped my bike in the garage. I figured I just screwed my pooch good. They paid out and my rates didn't go up.

 

[fallenarch]

I have had 4 bike drops. One was major and the bike was totaled. I was lucky because the guy who ran me off the road left the scene but a game warden was behind him and witnessed it. SF paid the claim as I had uninsured motorist coverage. That was &18K after doctor bills and such. I paid for repairs on all the other stuff that was my fault (rain drop, garage drop, and famous drop at the 2012 Spring Bash). SO I have not had any increases on my premiums.

If you ride a bike I highly recommend uninsured motorist coverage. A lot of the crashes we bikers have the culprit is a loser without insurance or just leaves the scene. This will cover you even if it wasn't your fault.

 

[RedBusarider]

My Busa insurance is 36.70/month full coverage with State Farm. Even includes riding gear if damaged in a crash etc.
Yes I do have 2 bikes and 2 vehicles and a trailer insured with them.
All those vehicles above cost me about 2K for a whole year, or about $166.6666 per month.

So Sixpack even the Gieco rate is pretty high for only one bike.
Call State farm (an agent near you) and maybe you will get someone willing to work with you, and want your business,
therefore give you a better rate.

Even when my Busa was Brand New I only paid about $500 a year and every year it goes down a touch.

State Farm couldn't give me a good rate on my house insurance so I went elsewhere - but my vehicles I have insured with them for many years.

Good Luck and let us know how you make out.

 

[FALQN]

I have State Farm for all of my possessions: House, 3 cars, life and the bike bought new in 2012. I have the same coverage on my bike...that is on all of my cars (full). The bike is only $49 a month. State Farm all the way.

 

[georgiabusa_05]

State Farm 2009 GSXR 1000 $607.38 a year, or 50.615 a month.

 

[sixpack577]

I haven't had a State Farm quote in a few years...but they were a lot higher than Geico. Geico was $59 a month full coverage on my B-King. State farm said they would charge me a penalty for being a new customer.
Back when I was 24 I bought a new 02 GSXR1k, my friend who was 21 bought a new 02 ZX9.
His full coverage with State Farm, $29 dollars a month, and he had no motorcycle license!
My quote from them was over $4k a year! WTF!
I have had nothing but ridiculous quotes from them over the years.
I don't get it, I must be on an insurance insider hooligan blacklist or something.

 

[VIPER]

state farm here as well...i pay 18 bucks a month for full coverage with 0 deductible. I also have my house, 2 cars and the 109r with them.

 

[Tufbusa]

I haven't had a State Farm quote in a few years...but they were a lot higher than Geico. Geico was $59 a month full coverage on my B-King. State farm said they would charge me a penalty for being a new customer.
Back when I was 24 I bought a new 02 GSXR1k, my friend who was 21 bought a new 02 ZX9.
His full coverage with State Farm, $29 dollars a month, and he had no motorcycle license!
My quote from them was over $4k a year! WTF!
I have had nothing but ridiculous quotes from them over the years.
I don't get it, I must be on an insurance insider hooligan blacklist or something.

Oh dude, you gotta quit sharing your intentions of doing the "Oh Hell No" mod of putting dirt bike bars on a gixxer. They know its something no SANE man would do!

I understand your love of the Gixxer 1K. Counting my kids race bike, I have four of them. If I accidently got drunk enough to get married and be forced to sell all but one bike, the keeper would be a GSXR-1K. However, I am puzzled on your choice of the 05-06 over the 07-08?