Not really, depends more on driving record than age. My full coverage on a 600cc I4 sportbike when I was 24 was $400+/- from Progressive.
Besides, I'm trying to gauge how people approach insurance, do you get a cheaper bike that you can fully insure or buy some new hot shit bike and run the risk of losing it all?
I'm not asking for specifics, what I'm going for here is if you crash your bike by your own fault and you choose to claim in on your insurance, will they pay you out for the bike, that's what I'm meaning by full coverage.
Can one of you 4 in the Liability - $5k+ category explain your reasoning behind the bike you own and your level of insurance? Do you really feel that you're better off with a $300 insurance payment and the risk of losing your bike? I couldn't handle riding with that kind of risk, I'd be too nervous to get on the bike.
I still don't get how you older folks have such high premiums even if your record isn't THAT spotless. I have two buddies who are 20 years old..full coverage on newer sportbikes(600R's) that's about $600 a year for full coverage. I hear of guys on here paying double and add 10 years age.
I decided to get 3 quick quotes from Progressive, these are for a 27 year old male with no violations who owns his own house and has taken a safety course within 3 years:
If it didnt cost me over 2 grand more over liability to full coverage I would in a second get full. The price jump for me from liability to full is thousands more. Im also 21 and I heard thats the reason why. Spotless record but that doesnt matter.
When I was 21 probably even younger, my first bike was a 94 or 96 ZX7(can't remember the year) I was paying $50.00 per month for full coverage. Of course this was back in 98.
That seems to me like a VERY foolish, and ignorant statement. I don't plan on going down, again, but shit happens and I am going to be prepared. Do you wear a helmet? Jacket? Based on your statement there is no need for that, just trust your riding abilities and wear sun glasses and a wife beater.
I worked with a guy who had been riding 20+ years before he went down for his first time. Some kid decided to run out in between cars across a 4 lane major road and my buddy hit her head on and skidded on his back for about 100+ yards into on-comming traffic. He only ended up with a little bit of road rash cuz he was wearing gear. Granted, a helmet wouldn't have probably done much if he were to have been struck by one of those on comming cars, but his leather helped him a lot.
I paid cash so I self insure (other than the required liability). I can’t imagine paying $500-1000 a year for collision & comp. I would be hoping to crash it. So far I’ve saved more than enough to buy a new bike.
Ins co's make a lot of money playing the percentages. I have a better than average driving/riding/crashing record, why can’t I profit on that just like them? So what if I crash? I ride a motard, so it will only cost a couple dollars to fix it. I can fix minor crashes myself. I could always sell a crashed sportbike to a racer or part it out. Very rarely would it be a total loss.
thats an interesting point of view. i prolly saved enough $$$ by going legal limits that i could have paid for my bike new three fold. so i guess i won the gamble.
now im 26 and i got quotes for around 1K a year for a 9 year old bike $500 ded. fuck that instead of lining the ins co's pocket think ill stay at $100 and use they $$$ i save elsewhere. if i total it ill eat it and move on.
I had full coverage on the 675 and was glad I did. It was my first insurance claim in 15 years. Next bike will be 90% track, 10% street, so I will only have liability on that one. Any bike I take to the track I will be ok if I total it, so in my mind I have already written off the bike.
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