Busa insurance

[vinnycr2]

Hello everyone,

New to the board and first post.

My name is Vinny from Cranston Rhode Island. I would love to get a Hayabusa.

I checked insurance rates before taking the plunge. The rates I received gave me freakin heart failure.

When the insurance agent heard Hayabusa she said oh no not that super rice rocket again.

She showed me a quote to a guy for an 05 $3,300 for full coverage.

I did online quotes from Geico and Progressive. They both asked for my Wife's information even though she has no motorcycle license nor will she be riding the bike.

Progressive was over 2 grand.

This is what Geico came back with:
Dear Vincent Findley,

Here is a copy of your GEICO® Motorcycle Insurance quote.

Your total premium is $1468.00 for 12 month policy.

Click here to BUY this policy ONLINE. It is easy to start your policy right at our Web site.

The details of the coverages and premiums for 2004 SUZUKI Hayabusa 1300 are:

Bodily Injury Liability(BI) --- $25,000 / $50,000 --- $147.00
Property Damage Liability(PD) --- $25,000 --- $50.00
Medical Payments(MED) --- NO --- $0
Uninsured & Underinsured Motorist(UM&UIM) --- I decline this coverage --- $0.00
Uninsured Motorist Property Damage(UMPD) --- $25,000 --- $41.00
Comprehensive(COMP) --- $500 deductible --- $572.00
Collision(COLL) --- $500 deductible --- $658.00
Towing(TOW) --- NO --- $0

The above quote was the minimum the form would allow.

I'm looking for an 04 because I like the Black and Burgundy color and will be paying cash for. Don't want a loan. I will be using equity from my home.

What rates are you guy's and Gal's (I've seen the posts from a few gal's don't want to leave them out. Wish my wife would have an interest in riding.) paying for insurance around the country.

I know there are a few fellow Rhode Islander's and New Englander's on the board. Hopefully I will here from them after Bike week in New Hampshire is over.

The wife actually mentioned to me that getting another bike wouldn't be a bad idea. Wait let me think about this for a nano second ok I'll do it.

If I can't get insurance for around a $1,000 I'll have to settle for less than a Hayabusa. To me that would be like settling for a hot chocolate on the hottest day of the year.

My last big bore was an 85 GS 1150 (about the same weight as a Busa) with the typical mods jet kit and pipe. I put 35,000 miles on it in about 4 years. Road it practically until the first snow or until hypothermia started to set in. My friends used to call me mr freeze. Sold it in 1990 after buying a house and little use the last year I had it.

I'm currently riding my brother in laws 96 Gixxer 750. I'm a little guy at 5'5' 155 but this bike is still brutal in the city. Rock solid on the highway though. Had it up to 140.

Thanks to all,

Vinny in little Rhode Island

 

[Busa_05]

My boo and my wife's SV have comprehensive coverage. Our premium for both bikes, an old car and a newer Expedition (both with comprehensive) is less than what you pay for just your bike.

 

[MC MUSTANG]

Vinny,
Welcome. Insurance on the busa can be a little high, especially if there are any marks on your driving record. Riding experieince can be a factor as well. Have you tried statefarm? I have heard good things about them. Also, if you have a car(s) maybe switching them so that all are covered by the same company will help out.
Just a couple of thoughts -

 

[Busa_05]

Vinny,
Welcome.  Insurance on the busa can be a little high, especially if there are any marks on your driving record.  Riding experieince can be a factor as well.  Have you tried statefarm?  I have heard good things about them.  Also, if you have a car(s) maybe switching them so that all are covered by the same company will help out.
Just a couple of thoughts -

that's who I go through.

 

[eynlai]

Funny thing is I'm shopping around too for insurance since my car insurance is about up in 2 weeks with 21st Century. Busahaya told me what a great deal it is for my busa if I do multi coverage with State Farm. Currently on my car, 21st is charging me $446 for 6 months, liability, collision, UM, baseline. My current liability + UM with McGraw (aka Pacific Specialty) is running around $250 for 12 months. I have one speeding ticket + 1 more that's not on DMV record yet because I had my court date postponed for another month (this one I didn't mention to get a quote).

McGraw came back with $2145 for baseline liability + UM + collision + comprehensive 12 months.

State Farm gave me two quotes:

Without my car added: $118/month X 12 = $1416

With my car added: $61/month X 12 = $732
car: $774/6 months X 2 = $1548

I guess I'll move over to State Farm since I'm looking at it this way:

Right now annually: Car is $892 (with collision) + Busa $250 = $1142

IF I move to State Farm: $2280 annually, but I'll be adding collision and comp on the busa that it didn't have before. So if you look at it, it's $1138 for the collision and comp on the busa.

By the way, I'm 33, not married.

But what do you guys think?

 

[vinnycr2]

Thank you for all the replies so far.

Busa_05 I'm not paying on any bike insurance nor do I have a Busa yet. I'm doing my research to make sure I don't get in over my head.

I'm going to go to state farm and do quotes with and without my 2 cars.

Right now I have Liberty for my auto and they wanted absolutely nothing to do with motorcycles when I had my GS 1150.

Time is going to stand still until I find a Hayabusa to park my ass on while trying to find a reasonable insurance plan if at all.

Vinny in little Rhode Island

 

[johnstein]

i just called statefarm and recieved a quote for full coverage for 600.00 for 12 months.

 

[vinnycr2]

John,

What number did you call. I was just at their web site. Rhode Island and New York were not listed in their coverage area.

Do you live anywhere near Rockaway Beach or know where it is?

There is an 02 silver & Gray Hayabusa for sale there for $4,200 supposedly in excellent conddition 5,879. Like I said I would prefer an 04 because of the Black and Burgundy color but if I'm desperate enough I would settle for something like this.

Vininy in little Rhode Island

 

[johnstein]

Vinny,
I just went online and put in statefarm and then put in my zip cpde and the nearest statefarm agent came up. I am not close to it but i know where it is, it is in queens NY.
John

 

[FJRider]

vinnycr2 - State Farm seems to be the only Busa game in town, at least for me. Progressive - $2,472 (full coverage - annually, $500 deductible). State Farm, same coverage $748 (probably less if you include your car). I can perhaps understand $2 or 3 grand a year for a teenager trying to buy a Busa, but I'm 52 with nothing on my record! Yep, normally Busa's equal high rates. Planning on getting picking up a '05 in the next month or two, and obviously I'll be going with State Farm. There's such a major difference between SF and other insurance companies it makes me a bit nervous that SF might see this as a cash cow and raise all the Busa rates. Crossing my fingers that doesn't happen!

 

[mjn]

43 yrs old, clean (so far, knock on wood) record. All my shid thru State Farm. My Busa; 300/yr.

 

[Got-Busa?]

John,

What number did you call. I was just at their web site. Rhode Island and New York were not listed in their coverage area.

Do you live anywhere near Rockaway Beach or know where it is?

There is an 02 silver & Gray Hayabusa for sale there for $4,200 supposedly in excellent conddition 5,879. Like I said I would prefer an 04 because of the Black and Burgundy color but if I'm desperate enough I would settle for something like this.

Vininy in little Rhode Island

Your deal sounds like a SCAM.....$4,200 is way low unless the bike is stolen, salvage title, or just plain ragged to crap.


As far as insurance, you need to shop around. State Farm is probably your best bet unless you can get USAA.

I have had my Busa with them since I was 21 and only pay $258 for full coverage every 6-months.

 

[BusaBoyBatman]

I pay 1400 a year with State Farm,pretty damn good considrering I am a 23 year old male(clean record)But if it was not for state farm I could not afford the busa.Ihad to switch my car over to them to insure my bikes.If I as 25 it would be 500 a year.Damn!!I am young

 

[Krieg]

State Farm for me. I pay $305 a year for full coverage. Geico and Progressive both suck for motorcycle insurance.



<!--EDIT|Krieg
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[vinnycr2]

John Got-Busa?,

There are possibly a lot of scams out there. Of the 2 dozen or so Hayabusa classifieds I looked at in the last 3 or 4 day's half of them were well below true value.

I agree with you anytime I saw a price like that the first thing that came to mind was why so low, Scam, stolen, salvage misprint etc.

This doesn't mean that all are and I'm not saying that I'm desperate enough to hand over my cash without using my head checking the deal out fully.

I think some of these people didn't shop around for insurance and are paying through the nose for insurance and can't afford the high premiums while barely able to afford to pay the loan for the bike.

mjn WOW

That's incredible $300.00 a year full coverage! By the way I have a year on you.

Unbelievable the difference in price from company to company and state to state.

FJRider,

That's just about the same price Progressive came back with for me at 44 years old. I here you about the makes me a bit nervous that SF might see this as a cash cow and raise all the Busa rates. Could be also that they are trying corner the market on Busa insurance.

john stein,

I typed in statefarm + my zip and found an agent about 5 miles from my house. Don't know why RI is not listed on their web site. I will have to wait until Monday to get a quote no one there now.

BusaBoyBatman and Krieg thank you for posting your rates.

I'll gladly switch both my cars and homeowners over to Statefarm if it means an affordable rate.

Again a big thank you to all for posting their rates. I feel much more confident that I'll be able to hop aboard a Busa in the not to distant future.

Vinny

 

[IL_BusaBoy]

I'm with State Farm and am around $100 a month. My agent told me that once I turn 25 it will drop dramatically. Thanks god for that. Only another year to go.

 

[jerseybusa]

~$800 a year. Full coverage $0 deductibles. North Jersey.

 

[Oldroller]

State Farm here and I think mine is about $300 a year and I have my truck with them also. Clean license and 50 years old.

Two years ago my 1200 bandit was totaled and they paid the claim on it. That accident did not seem to affect my premiums at all?

 

[greeneinc]

State Farm is what I have and they are the lowest that I have in my city. That too depends on where you live. Insurance on the same bike that I had was alot cheaper in VA than it was for me in Philadelphia.

 

[greyrocket]

yeah statefarm i'am 24 and mine is $660 a year in CA. full coverage way above state min. 2003 busa