Insurance: Over 1000 CC's and you pay more?

M

mperetz

I just posted a long, probably boring introductory post on the newbie thread(s) about the FI light. So I don't need to repeat all of that here.

So here is my question about insurance. My brother got a Triumph 955 and laughed at me for having an 06 Busa... that is 1300 CC's of course...

He claims that when your bike is over 1000 CC's you automatically pay significantly MORE (a LOT more) for your insurance.

He SEEMS to be correct if memory serves me - on my other bikes - like the Triumph Speed Triple I had (and I thought the Bandit) - the Progressive insurance cost me 3X LESS per year than it does for the Busa....

Is he correct?

I'm paying like $74.95/month for my bike. That is ALSO because it is entirely financed by Hudson Valley Credit Union... which means I can't drop part of the insurance (comprehensive???).

It may be both factors working against me - although I'm 44 with a perfect driving record - the bike is completely financed and over 1000 CCs.

Am I correct?

Either way - I can't afford to pay it off - since I've been unemployed for 6 months now... and I can't change the fact (if it's true) that bikes over 1000 CC's cost significantly more to insure (inherently).
 
some companies go by cc's some go by what the bike is.

SO unless you are married to Progressive...check rates with State Farm.
 
I guess you're right - I can't recall why I went with Progressive - probably because I'd used them and they were the lowest on my previous bikes (Vulcan, Bandit, Speed Triple).

Time to check again...
 
My GSXR 1000 ins. is higher than my Busa, State Farm is the place to go though.
 
State Farm is the way to go for sure. :thumbsup:
I'm 25 and pay something like $575 a year for full coverage ($250 deductible) on my 08 Busa. My bike is paid for, so I don't know if that makes any difference in the price. I'd guess that full coverage is the same price either way. Wifey does the bills, so I'm not exactly sure about that number, but it's close.
 
I'm 52, have all my insurance with state farm including 5 bikes. I pay about $325 a year for full coverage. They never even asked me what CC it was. Only thing bad is there is NO medical coverge. Just the bike. So i tend not to take on riders!
 
by the way if the bike is 999 cc's or 996 tell them so, on the busa if its a gen one tell them its 1299 cc's technically that is the correct size.... there is a reason they make them 999 or 998 cc's....state farm is the way to go, but make sure you have personal health insurance too
 
$22/month, full coverage, no medical, $500 deductible------->State Farm

I did have an issue with them cancelling my insurance when it was knocked over because it had a PCIII and numbers on it. After I offered to cancel my home, truck, car, car, bike and bike insurance, they reconcidered and decided to keep insurance on the Busa.
 
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Geico here. $314/yr with comprehensive and a $250 deductible.

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State Farm here.

About $400 a year. Where you live has more to do with your costs than just about anything else, up to a point, but I wouldn't use Progressive to save my life. I'd rather not own a bike than use Progressive.

Well, not really, but you get my drift! :;):

The way I understand it, horsepower counts more than cc's. That's why big a$$ Harley's don't cost more to insure than the Busas.

--Wag--
 
50 bucks a month full coverage/medical/the whole sha-bang through statefarm on my 06 busa. that rate will drop significantly later this year when i turn 25:thumbsup:
 
I have state farm and pay 39 i think it is (wife pays the bills) for full coverage but no medical. I am military so my wife and I are covered medically but I dont take anyone but her on the back. BTW I am only 23 but with a clean driving record.
 
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State Farm All the Way! I pay like 40 a month and im 29, My 08 is paid for so not sure if that plays into it or not but a buddy of mine has a 09 750 and pays 330 a month!!::11 :lol: sucks to be him esp since he keeps trying to make his as fast as mine... :poke:
 
State Farm does seem like the way to go but in New York ( it might be the same in all the states) State Farm will only insure your motorcycle if you have your cars insured through them. I've been looking for insurance for an 09 and the numbers have been all over the map. Any where from 900.00 through 2,500.00, and I'm 49 with a clean driving record and excellant credit. Your credit rating is another thing they use to decide what they want to charge you. Some won't give you full coverage at 100/300, some won't go below a 1,000.00 deductable. Quite discouraging to say the least.
 
In TN they tell me they won't insure just motorcyles have to have your cars too. I said no thanks (USAA); Geico otherwise.
 
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