insurance rate question

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blueninja1

New Member
i need an estimate on insurance in the following scenario:

25 year old buying a new 2010 zx6r with 1 year of riding experience. clean record. insurance coverage only includes liability (new york state). how much per year?
 
erick1670

erick1670

Member
you will need to ask this question to an insurance agent.... but if you live in Queens is going to be high for your age for liability and short driving record(on bikes, I think:notsure:) no matter if it is clean.....

I remember when I was living in Jamaica Queens, 11 years back and I was 29 it was around $300 to 400, but it could have change :dunno:
 
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blueninja1

New Member
oh cool i didnt know u were from queens. i'm in fresh meadows, not too far from jamaica. i'm actually planning on buying my bike from whitey's motorsport (in jamaica). you should know about that dealership, it's one of the more popular and reputable ones.
 
HondaGalToo

HondaGalToo

Control Rider
Are you financing it? If so, you'll be required to have full coverage, I believe. At least that's the way it works most places. They won't ask about years riding experience, it's more about age.
 
Mikey75702

Mikey75702

Member
jtsgsxr6;173717 wrote: That's not for vehicle insurance. OP is just going to need to get quotes, State farm or progressive, kind of places.
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Thanks. I thought when i looked at it there was a section for bike insurance but I guess i was wrong.

For bike insurance, also check out dairyland though if you wreck the bike and they find out it was on a track they won't cover it.
 
slowpoke

slowpoke

New Member
brand new, financed (i'm assuming) bike + racetrack = trouble

Judy's right - if financed, you'll be required to carry full coverage.
 
erick1670

erick1670

Member
HondaGalToo;173712 wrote: Are you financing it? If so, you'll be required to have full coverage, I believe. At least that's the way it works most places. They won't ask about years riding experience, it's more about age.
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:agree:
 
dbarufaldi

dbarufaldi

Member
This is the guy I use: http://www.allstateagencies.com/jrdevito/welcome . He is a rider, racer and coach for another org, and very straight-shooter. Will tell you the facts and let you choose the right solution. He insures my home, car, bikes, etc. NY only.

Just as an aside, why only liability? Can you afford to lose the value of the bike?

Dan B

blueninja1;173689 wrote: i need an estimate on insurance in the following scenario:

25 year old buying a new 2010 zx6r with 1 year of riding experience. clean record. insurance coverage only includes liability (new york state). how much per year?
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HondaGalToo

HondaGalToo

Control Rider
dbarufaldi;173726 wrote: Just as an aside, why only liability? Can you afford to lose the value of the bike?

Dan B
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Yup. Some companies cover closed-course, non-timed, non-racing events. Others don't. If you get full coverage, make sure they do.
 
fitz

fitz

New Member
A bit off topic but, I'm just amazed how much of a difference there is in motorcycles when it comes to insurance.

My R6 was almost FOUR times more for insurance than another bike I have that cost TWICE as much.

Oh and the R6 is TWICE as much for insurance than my 2011 vehicle that cost me SIX times more.


fitz
 
HondaGalToo

HondaGalToo

Control Rider
fitz;173728 wrote: A bit off topic but, I'm just amazed how much of a difference there is in motorcycles when it comes to insurance.

My R6 was almost FOUR times more for insurance than another bike I have that cost TWICE as much.

Oh and the R6 is TWICE as much for insurance than my 2011 vehicle that cost me SIX times more.


fitz
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Yup, they surcharge sportbikes up the wazoo. Typically, they insure by age of the rider and bike cc. Then, if it's a sportbike, up go the rates to much higher rates than a similar sized/cost non-sportbike motorcycle. It's been that way for quite awhile now. The only comany that doesn't seem to currently do that is State Farm.
 
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blueninja1

New Member
i can't afford full coverage at all with a 600, so i am opting for the bare minimum which is liability. of course i would have to be a fool to tell my insurer i plan to do trackdays. also i know i am taking a gamble that i will possibly wreck. but my skill is to a level that the chances of that happening are slim.

i will either finance or put the purchase on a dealer supplied credit card. whichever allows me to carry cheaper insurance. any experiences doing something similar to me?
 
fitz

fitz

New Member
blueninja1;173733 wrote: i can't afford full coverage at all with a 600, so i am opting for the bare minimum which is liability. of course i would have to be a fool to tell my insurer i plan to do trackdays. also i know i am taking a gamble that i will possibly wreck. but my skill is to a level that the chances of that happening are slim.

i will either finance or put the purchase on a dealer supplied credit card. whichever allows me to carry cheaper insurance. any experiences doing something similar to me?
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:popcorn:
 
Saltman

Saltman

Member
fitz;173728 wrote: A bit off topic but, I'm just amazed how much of a difference there is in motorcycles when it comes to insurance.

My R6 was almost FOUR times more for insurance than another bike I have that cost TWICE as much.

Oh and the R6 is TWICE as much for insurance than my 2011 vehicle that cost me SIX times more.


fitz
I had Progressive & Geico both quote me for like $300+ a month for my 06 GSXR 600.
One told me the "R" stands for Racing so it's a race bike. :notsure:

HondaGalToo;173729 wrote: Yup, they surcharge sportbikes up the wazoo. Typically, they insure by age of the rider and bike cc. Then, if it's a sportbike, up go the rates to much higher rates than a similar sized/cost non-sportbike motorcycle. It's been that way for quite awhile now. The only comany that doesn't seem to currently do that is State Farm.
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State Farm FTW! Same bike cost me only $30 a month at age 29 for full coverage.

blueninja1;173733 wrote: i can't afford full coverage at all with a 600, so i am opting for the bare minimum which is liability. of course i would have to be a fool to tell my insurer i plan to do trackdays. also i know i am taking a gamble that i will possibly wreck. but my skill is to a level that the chances of that happening are slim.

i will either finance or put the purchase on a dealer supplied credit card. whichever allows me to carry cheaper insurance. any experiences doing something similar to me?
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:doh:

:banghead:

Patience! Priorities! We've been through this before! I've got a friend just like you. Young, stubborn and impatient. If you wreck, or if it gets stolen, this will be the bike note-----> :nutkick:
 
dbarufaldi

dbarufaldi

Member
blueninja1;173733 wrote: i can't afford full coverage at all with a 600, so i am opting for the bare minimum which is liability. of course i would have to be a fool to tell my insurer i plan to do trackdays. also i know i am taking a gamble that i will possibly wreck. but my skill is to a level that the chances of that happening are slim.

i will either finance or put the purchase on a dealer supplied credit card. whichever allows me to carry cheaper insurance. any experiences doing something similar to me?
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Well, if you finance through a conventional finance source, they will 1) put a lien on the bike, and 2) require full coverage. If you wreck the bike, you have to pay it off immediately, which is why they require full coverage.

If you finance it on a credit card (or other non-collateralized source), you don't HAVE to carry the coverage. I guess the question is - if you can't afford the insurance on the bike, can you afford to pay it off over 5 years if you wreck it on day 1? Imagine paying a few hundred/month for 60 months on a bike that is a heap in the corner of your garage...what if your injuries mean you lose your job for 3-6months?

I'm sure your skills are great - but accidents happen, and frankly, at 25, your experience level with street riding isn't that high.

I don't want to rain on your parade, as we've all been 25 and in love with the notion of a new bike and the love of riding. Trust me, a lot of us have made some boneheaded moves - which is why you should take some advice from an old fart or two, and consider pulling extra hours at the job or drop the premium channels on cable to pay for the coverage....

Dan B
 
erick1670

erick1670

Member
blueninja1;173733 wrote: i can't afford full coverage at all with a 600, so i am opting for the bare minimum which is liability. of course i would have to be a fool to tell my insurer i plan to do trackdays. also i know i am taking a gamble that i will possibly wreck. but my skill is to a level that the chances of that happening are slim.

i will either finance or put the purchase on a dealer supplied credit card. whichever allows me to carry cheaper insurance. any experiences doing something similar to me?
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Kid, I would do the best effort to get full cover b/c if you get it stollen or wreck you will be sorry.... and dont think that you will not wreck b/c of your current skills, it can happen....

Good Luck!....:popcorn:
 
J

JohnS

Member
I am not going to preach, I am just going to comment on one of your statements, I financed some of an 03 R6 with a Yamaha Card. It was considered a credit card not a loan and did not require me to have full coverage. I did anyway, after a year when the bike was paid off I sold my trackbike and I dropped the coverage on the R6 and turned it into my "new" trackbike.
 
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