[Fithamoto]

I just was just wondering what everybody pays for their motorcycle insurance? And how do they determine the cost? Age, size of engine, age of bike, etc?
I'm 57 and have a 2004 VTX 1300C...I pay about $500 bucks a year...does this sound right?

 

[henkvdb]

Damn it, after 13 years I just noticed for the first time that this policy assumes 2,000 miles per year while I always try to do 10,000, did 12,000 back in 2021.
2022 though, getting old, only 2500 miles.
This year, being an other year older and a new hip richer I pray I'll be able to get back to old habits.

This 'only 2000 miles' thing may explain why my premium is 'low?'.
Since I never had a claim I am not going to bother the insurance company talking about my mileage until I hopefully can get at least to 2,000 miles with this old body this year.
😕

2003 VTX1800s, Colorado.

Coverage:

 

[brettp]

I think mine in Florida is even cheaper than that, and I don't have a mileage limit. Here in Florida we aren't required to insure motorcycles, but you'd be a fool not to

 

[Merry Prankster]

Full coverage Geico, 165 a yr. Have had this policy since 2002.

 

[TheDimani]

What is the principle of equipment insurance for you? What risks are covered by insurance?

 

[69camaro]

I think just like car insurance they take into account things like your location, your credit history, your bike and driving history etc. I think my cost was a bit high this year because I just moved to florida when I renew they have already said my cost will drop.

 

[TheDimani]

In Russia, there are two types of insurance for cars and motorcycles, OSAGO and CASCO. OSAGO implies civil liability insurance in case of damage caused by this car or motorcycle to another vehicle, property or physical harm to a person. If an insured event occurs, the insurance company will pay the damage to the victim. CASCO means ordinary insurance, such as against damage to my property or theft. Do you have the same system?

 

[JPT]

In Russia, there are two types of insurance for cars and motorcycles, OSAGO and CASCO. OSAGO implies civil liability insurance in case of damage caused by this car or motorcycle to another vehicle, property or physical harm to a person. If an insured event occurs, the insurance company will pay the damage to the victim. CASCO means ordinary insurance, such as against damage to my property or theft. Do you have the same system?

Yes. We call them:

Collision/Liability Insurance - covers you if you damage other people's property or harm them (usually required in most US states)
Comprehensive Insurance - Covers your vehicle/property if you cause an accident. You can go through your policy even if it is someone else's fault just so you don't have to deal with waiting. Your insurance will then go after theirs. This also covers theft. There are multiple additional options to add like uninsured/underinsured motorists, which covers you if someone else hits you and they do not have insurance, or their policy is too low to cover damage (property or persons).

My motorcycle coverage is <$260 per year but I have to carry $250k/$500k limits as a requirement of my umbrella policy.

 

[Justa_Poser]

We're in rural Missouri pay less than $1,000/year for a total of five motorcycles combined - full coverage with a $1,000 deductible.

 

[TheDimani]

Yes. We call them:

Collision/Liability Insurance - covers you if you damage other people's property or harm them (usually required in most US states)
Comprehensive Insurance - Covers your vehicle/property if you cause an accident. You can go through your policy even if it is someone else's fault just so you don't have to deal with waiting. Your insurance will then go after theirs. This also covers theft. There are multiple additional options to add like uninsured/underinsured motorists, which covers you if someone else hits you and they do not have insurance, or their policy is too low to cover damage (property or persons).

My motorcycle coverage is <$260 per year but I have to carry $250k/$500k limits as a requirement of my umbrella policy.

OK, I see. Thank you for the information

 

[Hans&Feet]

My first years insurance with SF was $600 Slightly outrageous.

Progressive used to be $273 but with Umbrella policy and Uninsured added on, it went to $317.

 

[TheDimani]

with us, the cost of insurance depends on the number of drivers for a particular car and on accident-free driving.

 

[rangers4u]

That can factor into our insurance here in the US as well. I, like Hans & Feet, have Progressive, and pay somewhere over $300 annually to keep all those commercials with 'Flo' on TV. 2003 1800 C 27,000 Odo.

 

[Chicago-Spike]

Do research with Google and you'll find lots of articles on what companies are good and which ones aren't. I put them on my home policy with State Farm. Figured he has my house, and cars policies may as well have the bikes too. All I do know is I saw a sign in 2 dealers near me that have signs on their walls that say "We will NOT work with Gieco Insurance"..... and most of the articles don't put them on their lists either

 

[69camaro]

I have USAA for my auto and renters policy's and they sublet, if that is the right word to Progressive for Motorcycle insurance so I currently have 100 comp deductible 250 collision deductible and disappearing deductible road side service and $3000 accessory coverage for $227 and on renewal in June they say it will decrease by $100, we will see if that actually happens.

 

[Cal65]

I’m with State Farm. I only pay $325 a year. That’s with bike coverage on tire to tire.

 

[JPT]

If discussing the actual premiums, we should include the coverage limits. For example, I have $250k/$500k limits on Bodily Injury AND Supplemental (my own bodily injury and for uninsured/underinsured). This is a big part of what changes the policy premiums.

And if you don't have your supplementals high, you are counting on the other person to have done the right thing and carried more than the state minimum for bodily injuries. I just learned this after I was rearended in my car. last year. My supplemental was $100k/$200k instead of the $250k/$500k.

Someone can say they pay $100 for full coverage insurance, but if the limits are really low, you may end up paying out of pocket for yours or someone else's medical bills or property...

 

[69camaro]

If discussing the actual premiums, we should include the coverage limits. For example, I have $250k/$500k limits on Bodily Injury AND Supplemental (my own bodily injury and for uninsured/underinsured). This is a big part of what changes the policy premiums.

And if you don't have your supplementals high, you are counting on the other person to have done the right thing and carried more than the state minimum for bodily injuries. I just learned this after I was rearended in my car. last year. My supplemental was $100k/$200k instead of the $250k/$500k.

Someone can say they pay $100 for full coverage insurance, but if the limits are really low, you may end up paying out of pocket for yours or someone else's medical bills or property...

this is a really good point, here in florida medical is a separate coverage you have to elect to get. the higher you want that the more you pay. I have pretty low coverage on that I really should up that but I think I will wait until my renewal and find out if they actually will lower my premium.

 

[JPT]

this is a really good point, here in florida medical is a separate coverage you have to elect to get. the higher you want that the more you pay. I have pretty low coverage on that I really should up that but I think I will wait until my renewal and find out if they actually will lower my premium.

NY is a no-fault state, which means my insurance is paying for my own medical bills even though I was rear ended and was at 0% fault. I have had 3 surgeries on my back, have 2-3x physical therapy per week, have had an MRI, X-ray and Neurosurgeon consultations. All since 9/19/22. My lawyer pointed out the gap in my coverage. It was too late for this incident but is now at the appropriate level. With the coverage where it was, it means that the maximum I will get is $100k total for potentially lifelong injuries, which will prevent me from having the same mobility I had prior to the accident.

The weird thing is, visually the accident wasn't even bad. But it felt like the car directly hit my back. I also am having neck issues, but we haven't even started addressing it (loss of motion, without pain).

 

[69camaro]

NY is a no-fault state, which means my insurance is paying for my own medical bills even though I was rear ended and was at 0% fault. I have had 3 surgeries on my back, have 2-3x physical therapy per week, have had an MRI, X-ray and Neurosurgeon consultations. All since 9/19/22. My lawyer pointed out the gap in my coverage. It was too late for this incident but is now at the appropriate level. With the coverage where it was, it means that the maximum I will get is $100k total for potentially lifelong injuries, which will prevent me from having the same mobility I had prior to the accident.

The weird thing is, visually the accident wasn't even bad. But it felt like the car directly hit my back. I also am having neck issues, but we haven't even started addressing it (loss of motion, without pain).

Yeah never a good thing with that.