Insurance cos' rip-off Busa owners

[4wd]

After going round and round with insurance rates, companies I have discovered anyone trying to insure a Suzuki 1300cc Hayabusa is in for a shock.


Yrly. premiums for $100/300,000 bodily injury and PD, unin and underinsured, and 1,000 ded coll&comp. Excellent driving record and 55 yr old farmer:

I started with Progressive who I have a car, p/u, Honda VTX, Bombadier 800 ATV all insured with them for the past several years (no claims)... They quoted me $1300/yr for the 2 bikes and ATV with a rider stating my 19 yr old son was to only occasionally ride ATV only and NO COVERAGE should he take a bike out for a spin. Without the Busa, $333 for the Honda and ATV only and no riders for the boy.

I then checked GEIKO. $687 for the Honda and Busa. Rider for the boy stating he WOULD NOT be covered on either bike. No ATV coverage avail.

Lastly, I went to State Farm where I already have two trucks insured with them,. $721 for Honda, ATV, and Busa. My boy can occasionally ride any of the three w/o insurance riders.

Needless to say which insurance co I went with. Apparently when you try to insure the Hayabusa, a red flag comes up in these companies computers and immediately kicks in double or triple the normal rate.
I learned it is very important to shop around these insurance rates with different companies as it will save you lots of dollars. They really seem to be hard on the young bucks that ride the Busa.

Also, when comparing rates, be sure to get a quotes that identically match the coverage.
Mark

 

[el stumpo]

Geico wanted me to pay $2250 for full coverage (50/100) and w/progressive.
38 yo driver
no tickets - well one speeding, but should be off my record.

ouch.

Going for liability only for $170

oh, first post! w00t! 2006 Busa LE.

FIRST BIKE!!

------just kidding. sometime I'll mention the others.... add the avatar, yadayada

 

[bigmac0331]

My wife and I both have State Farm for our Busa coverage. We pay about $30 a month per bike. I know i couldn't believe it when i heard the price. I checked another Ins Co. and the quoted me about $185 a month for just me . So maybe we are getting one heck of a deal!!!!

 

[ambulldog]

im ok with my sub $500 yearly policy

 

[cfh]

right now i got liab. only cant afford the full coverage yet.32 yrs clean record 300 a year

 

[Pipefighter248]

Yep, can't afford full either.
25; nothing on driving record.
Liability only for $118 Yr. progressive.

 

[TXBusa05LE]

Dairyland...full...$524 a yr...

 

[craigntx]

im payin 60 a month, full cov (state farm)
but my reckless drivin deal aint hit yet

i had a 01 that was ripped off
i had a "stated value" policy of $8k
the fuggers gave me $6700
they said i could've taken the extras off myself before it got ripped
i would've fought em, but i wanted to hurry up and get on 2 wheels again
i think the sheisters know this, and low-ball ya
punks

 

[cfh]

i just wonder how these youngsters can ride around on these literbikes and get insurance at all

 

[TXBusa05LE]

(cfh @ Aug. 04 2007,11:32) i just wonder how these youngsters can ride around on these literbikes and get insurance at all

I doubt they have any...these kids around here are sportin 07's like you wouldn't believe!!

 

[tjdobb]

State Farm and 235.00 per year.

2 travel trailers, 5 snowmobiles, 2 snowmobile trailers ( one 26' inclosed and finished interior) the Busa, a full sized van and the house. All for 1056.00 bucks per year. Only State Farm. I have had them since I was 16 and have alot of claims and never a problem. The best agent I could ever have.

 

[BusaBret]

(TXBusa05LE @ Aug. 04 2007,11:39)

(cfh @ Aug. 04 2007,11

) i just wonder how these youngsters can ride around on these literbikes and get insurance at all

I doubt they have any...these kids around here are sportin 07's like you wouldn't believe!!

Financed thru Suzuki and no insurance required. When I bought mine the dealer tried to talk me into this. I laughed and told him I already had it insured and my credit union was over 4% better on interest. By the way I'm 35 with a clean record $890 a year with Geico.

 

[DaCol.]

One way you can save is to LOWER you collision coverage (stated amount) each year to match the value of the bike. Because your paying repair cost, when infact a 4 or 5 year old busa is going to be totaled for book value, less deductable if repair is more than $3,000.

 

[GoAWOL]

IMHO insurance companies are a scandal. That being said....I have to place some of the blame on the knuckleheads I see tearing around acting like jack-arses and wrecking themselves and others. Sport bikes suffer a horrific image and unfortunately we're paying for it not only with over priced insurance but with LEO's too.

 

[michael t]

Iam 61 clean record. I live in country Progressive wanted 3000 + for 1000 deduct full coverage. Same insurance on my Kanata was about 720 a year. They told me cost a lot to fix this expensive bike. Told woman I have a Porsche that cost a heck of a lot more to buy and really expensive to repair and it only cost 1200 a year for same coverage My Camaro RS is about same as the Porsche and my van is cheaper yet. Insurance is a rip off
Oh befor I bought the bike I called Progressive for a quote as they have my other bike . Woman on phone too info and said a $100 a mo. I figured ok since I was paying 60 for my older bike. So I went bought my 07 and call. Thats when I was hit with really big numbers Was almost hit by wife also when she heard rate.

 

[BlkDrgnZ28]

Hmm i think i need to try state farm they seem the best with this because i geico wanted 535 a month for full coverage

 

[4wd]

I'd have to say Progressive sucs. They used to be the one to use especially for motorcycles. Blow out all the rest.
Now, a few years later, they are high and getting nasty if you have a Hayabusa or probably some other high performance cycle.

GEICO seems more reasonable with their rates for an older guy with a clean driving record, but look out if you have an under 25 driver in the house.

Right now, State Farm blows them all away, and doesn't seem to be concerned if an under 25 aged driver in your house might go out for a spin once in a while with the Busa.

Those are the big 3 writing insurance policies in my area.
I suppose in 4 or 5 years that will all change again.

 

[Mike.P175]

AutoOwners Group got 01 Tahoe, 06 Vue and 01 Busa
all full coverage for 180 per month. Great company wife
got hit by a deer in the Vue, went and got a quote and
took it back to them and they cut a check right then and
took care of the rental car for us

 

[BAMBOOBUSA]

These bikes are so cheap that it is easy enough to trash it and buy a new one.  I carry only liability on the 2000 busa at $170 per year.  Even if I buy the new 08 I'll probably only put liability on that one too.

 

[Wag]

I effing HATE progressive. They don't even deserve a capital letter.

I was with State Farm for quite some time. Just switched to Farm Bureau a week ago. Nearly 30% savings (about $1,000/year) for two bikes, two vehicles and house combined.

Niiiiice!

--Wag--