So, you wanna own a 'Busa, kid?

[Jayhawk]

Was having a discussion about insurance costs recently on another board, and I thought it would be interesting to see how much insurance would cost for an 18-year old, clean driving record biker for full coverage. The results from Geico (and also Progressive) astounded me. Progressive was quite a bit cheaper, but still outrageous.

Here you go:

ImageShack Links Do Not Work

 

[twotonevert]

Omg!

 

[TruWrecks]

It's nice to be over 30.

 

[VaBusa]

I've been with Progressive for years (and I'm apparently one of the lucky few that are happy with 'em)...when I called for my quote on the Busa, the agent told me that he'd had a 19 year old call recently for a quote on his Busa...it was $15,000/year...I couldn't believe it ::11

 

[TruWrecks]

Unfortunately in Washington the state doesn't require MC insurance. There are a few kids here with more money than good sense. If they had to pay for the insurance they wouldn't be on these beasts.

 

[runeight]

Wow! Would not believe it if I didn't see it with my own eyes.

Did I say wow?

r8

 

[MET]

That is the trouble they pull back on coverage just to squeek by. Or they go wth no insurance at all.

 

[NINJA KILLER]

WOW , That is Crazy !!!

 

[bigmac0331]

thats just crazy that insurance for one year is more than the cost of the bike!!!! Thats insane!!!

 

[WWJD]

You know... thinking about it... this actually makes sense to me.

1. Insurance companies exist to rake in money and pwoer bikes like these in the hands of children equals payouts for damages, etc. so it makes sense it be priced out of reasonability

2. this keeps kids from buying said "killer" bike and probably hurting themselves.

maybe as insane as this pricing is, it's a good thing in the end for us all

 

[thebbbusa]

Funny, looking at the breakdown, collision is where they get ya. So they're pretty much counting on an 18 yr old to total the bike out.

 

[SpeedAdict]

Funny, looking at the breakdown, collision is where they get ya. So they're pretty much counting on an 18 yr old to total the bike out.

That's the way I read it they have there money in that you are going to total the bike. But the funny part is if you do total the bike they won't even give purchase price for it unless you have gap. But even at that you are 8 thousand more in the year than original purchase. Man Insurance companies rake in the dough.

 

[runeight]

When I shopped over 2 years ago I was told "one year" is the average life of the Busa.

Not sure what it would be now. ???

r8

 

[Mr Bogus]

You know... thinking about it... this actually makes sense to me.

1. Insurance companies exist to rake in money and pwoer bikes like these in the hands of children equals payouts for damages, etc. so it makes sense it be priced out of reasonability

2. this keeps kids from buying said "killer" bike and probably hurting themselves.

maybe as insane as this pricing is, it's a good thing in the end for us all

and what is most ironic... can you name the state with the TOUGHEST policy/laws/fines for speed/stunting/license plates and they do not even require insurance on bikes... Hmmmm never even tied this together before....

 

[twotonevert]

Good thought Randy!

 

[BigBSBusa]

That's unreal!

 

[SANDFLEA85]

I know when I was 18,I drove witout insurance,had nothing to lose,what 18yr old you know that has anything to lose,I dint get insurance until I was married and bought a home,I was 24,so I went 8yrs without any ins...F the insurence co,its legalized extortion as far as im concerned.I have liability through nationwide ($300/yr) if i wreck the bike,then thats on me and if I get hit by a car,I ll be happy to be alive,then il sue your ins co for hitting me,im 38yrs old,have all my ins through nationwide for the last 14yrs and they wante $1200yr for full coverage,I pay less then that for full coverage on a $60k car with them...its rediculous

 

[dalynchmob4]

WOW!! Never thought I'd say that "I'm glad to be an old man "

 

[Aquaman]

Almost cant even believe it

 

[runeight]

and what is most ironic... can you name the state with the TOUGHEST policy/laws/fines for speed/stunting/license plates and they do not even require insurance on bikes... Hmmmm never even tied this together before....

Florida comes to mind.

r8