Insurance

[NK]

I have a 2008 S2R 1000. I bought it new. I am 22, almost 23, and have a great driving record. I pay $1,500 per year for insurance. I have full collision and comprehensive coverage. My question is am I paying too much or am I getting a fairly standard rate for my premium. I live in Michigan and have State Farm insurance. When I first got my bike I shopped around and called places for insurance and this company had the best rates. Does anyone out there know of any companies that may be better in terms of rates? Appreciate any advice.

[Bladecutter]

I have a 2008 S2R 1000. I bought it new. I am 22, almost 23, and have a great driving record. I pay $1,500 per year for insurance. I have full collision and comprehensive coverage. My question is am I paying too much or am I getting a fairly standard rate for my premium. I live in Michigan and have State Farm insurance. When I first got my bike I shopped around and called places for insurance and this company had the best rates. Does anyone out there know of any companies that may be better in terms of rates? Appreciate any advice.

We can't really tell you if you're getting a good deal or otherwise, because we don't know your driving record, credit score/history, and where exactly you live in Michigan.

What I do know is that you might want to ask your State Farm rep if they give multi-bike discounts.
If you can, I would highly recommend picking up an older bike for dirt cheap, even if it doesn't run, and adding it to the policy.
That second bike would give you a discount that would be considerably more than its cost to insure.
I do that with my Allstate policy, which saves me quite a few hundred dollars a year.

BC.

[Chaddyboxer85]

-I have a 2006, Duc Monster 800 S2R. It had 450 miles on it when I bought it. Clean driving record. I have state farm and my yearly premium for full coverage is $735 a year. I believe that is a decent and reasonable deal for full coverage.

[peanut_man]

You are going to want to check around w/ other insurance companies.  But I think that's relatively high.  In NJ we have Rider insurance and they are pretty much the cheapest around.  However, they do not offer medical coverage for the owner, they assume the owner has his own health care plan to take care of the injuries.  My premium for my previous bikes are approx:

Honda CBR 600 RR (considered 'sport'):  $771
Multistrada 1000DS :  $650 (approx)
Monster 696:  $280 (with preferred rider discount, normally $330 or so)

And those are full-coverage.  For other insurance that also cover you for injuries, I have had as high as $2000 quote and as low as $300.  Age is a big factor in most insurance plan too.

So, shop around, and good luck.

[corndog67]

47 years old, no tickets on the record, full coverage on the S4, about $300 or so for the year.  The CBR was $82/year.  Liability only.  I think due to your age, you are probably paying about the average.  I know a young guy that had to have a GSXR1000 when he was 20 years old and he was paying twice what you are paying.

[He Man]

didnt you tell us a story back then when you were about to get your license suspended? how much was it then

[duckb0y]

23/24 years old, 2005 S2R 800, comprehensive, clean record -> less than 300 dollars a year.  American Family Insurance.  I also have my home and cage insurance through them... gives you more discount.

[WhiteStripe]

37, lots o' tickets - $700 in MA or $300 in NH full coverage

[m1moto]

47, 2 tickets (6 points), full coverage + $3k accessories - Progressive $252 per year in CO

[corey]

23, bought monster when 21.
A couple tickets, but no points, so the insurance companies don't care bout em.
Same coverage as m1moto. Collision, Comprehensive, Theft, Injury/Property Liability, Medical, +$3k of Gear/Accessory protection.
Progressive, $457/year in PA.

Call progressive, I can't find anyone who can get anywhere NEAR their rates.

[He Man]

wow. PA got some good rates!


21, bought monster when 18
No points
liability minimum everything, $521 a year.

Full coveregage quoted at ~$1600 down from $3000+ last year since i turned 21.

[RavnMonster]

I'm 32, In maryland, great record, great credit

05 S4R
Full coverage just over $600 a year.

[Grampa]

"more like a 1000 L twin"

[rizduc]

43 male clean record. 2009 696 Monster in Brooklyn, NY 750 yr full coverage.

[vwboomer]

Get with american family. I don't think state farm classifies as sport or standard bikes, but AmFam does, and the Monster is not considered a sport bike. As such, my insurance (clean record, multi vehicle and HO policy) with high coverages is 180/yr for an 05 S4R.