Hayabusa Insurance Adjustment Proposal


Donating Member
I have this theory, see... Hayabusa owners are generally older, more mature, less accident prone, less Hooliganistic, family types that have reasons to live... and although I don't work for an insurance company, I bet THEY have stats to back me up. They OUGHT to rate based on owners and usage, not based on who is the youngest, wildest that have access to the biggest bike. Do you know what I mean? Busa costs no more than an R1 or 1K, and more mature types seem to buy it, yet it costs more to cover. If they pulled the accident stats for Busa's over the last three years I bet it's lower than the R1 and 1K in numbers, and damages cost out. Anyone here work in insurance?
My insurance is pretty reasonable. I have State Farm (only will insure a bike if you also have other policies with them) and my rate only went up $20/year from my last bike (954RR) and actually is a little cheaper than my ZX12R was (rate change recently?).

Most insrance companies rate based upon your driving record and your age as well as the cc size of the bike, but I have found it has the least to do with it. Also if you stick with a company for amany years as I have, and have no tickets (or few) and no accidents, you get discounts that really help.

I know of a young guy (20) that was looking to insure a 954RR and the lowest quote he got was 9 times what I pay for my Hayabusa, yes 9 times, no joking. It is simple, he is young, has a bad record, and he has no other policies in his name. To an insurance company he is only a liability with little chance to gain anything. After all they have to make money too.

Also note that rates vary wildly so shop around but you usually will get the best rate at the same place you insure your car due to multi-discounts.
I have State Farm (only will insure a bike if you also have other policies with them)[/QUOTE]

That doesn't apply here in Ohio.  My house and cars etc. coverage is through American Family and they would not cover the Busa so I went with State Farm with no problem of getting full coverage with $250 deductible just for the bike alone for $528 a year.
Mine is right under $400 full coverage ($500 deduct, I am 33 and have 1 ticket in the last 5 years, no accidents). I guess State Farm has slightly different rules by state.
Wow. A 17 year old male with minimum coverage and a $1000 deductible is $4000/year.
Insurance varies greatly on zip code. Here in Santa Monica it would cost me $6000 a year for full coverage. I was only paying $360 a year in Daytona. It was comprehensive that flew it into the stratosphere, ie theft coverage. Just to many supersport bikes are stolen in my zip code. Same rate if I had a GSXR1000 or an R1.
The numbers say a large percentage of thefts are done by/for the owner of the bike that's stolen. I assume to collect the insurance money so they can update to the latest greatest. Since generally the payoff from the insurance co. is greater than the resale value of most if not all sport-bikes..................... At least this is what someone working in the Insurance Commissioners office lead me to believe when I inquired about the outrageous premiums in Ks.
25yrs. old, good record,  and USAA equals $110 every 6 months.  Of course i have been with the same company for like 10 years now.  Well... 9 anyways.  But i am on the eastern shore ( MD ).  That probably makes a big difference

edit: also married w/ multi vehicle discount
25yrs. old, good record,  and USAA equals $110 every 6 months.  Of course i have been with the same company for like 10 years now.  Well... 9 anyways.  But i am on the eastern shore ( MD ).  That probably makes a big difference

edit:    also married w/ multi vehicle discount
Being on the Eastern Shore definately helps.  I just called USAA for a quote on a 2004 (whenever it comes out) and was given $1230.33 yearly for full coverage and a $500 deductable.

That's for a 30-something with multi-car discount and spotless record.

When I was a 20-something out of Ocean City, full coverage on my ZX-7 was just under a grand (but with Progressive). For the 'Busa it would have been around $700 I'm guessing.

Then again, now I'm in Germany and betting they know exactly why I want a Busa

The clock is just not fast enough - I'm impatient as hell over the 2004...   Can't wait!!! :beerchug:
guys, I still find this funny...25, 1 ticket for 16 over, 500 deductible and 19.20 a month!!! I feel sorry for you guys that pay way too much....but it is one hell of a bike.
I dont know what you guys are complaining about here in good old blighty, I am 37 just had a 'no fault' accident, (prat in a car u-turned in front of me without looking) and my renewal for my new K3 is £1,300.00 Sterling, (it will go down to about £600 when the 3rd partie coughs up)

I'm not worried about the MY cost of insureance really, just that it isn't being rated FAIRLY thru assumptions: it's bigger and faster and should cost more. But it doesn't cost more. And is owned by a mroe responsible crowd... at least from what I can see here, there, everywhere

Guy averages a Busa a week? How do the OTHER rockets average and how old are the rider base? I know there's a ton more R1's and 1K's on the road... surely they total alot more percentage wise being owned by too young, too stupid, showoff types [statistically speaking]. Just a thought.
Poor Joe 18 year old.... what's the point of even carrying insurance if it's HALF the price of the bike for a year?? They won't discourage him from getting the bike, just from getting the coverage
I wouldn't go without the ins on any bike....parts cost way too much. Just find someone who can give you ins for a good price.