How Much Do You Pay For Insurance?


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Solina Dave
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How Much Do You Pay For Insurance?

Postby Solina Dave » Mon Jan 18, 2016 4:25 pm



Previously I posted the question, "Why Do We Ride Motorcycles?". One reason that made some question why they ride, was the high cost of insurance. Personally, with a 100% clean record, I'm paying just under $1000 this year, liability only. I'm up here in "The Great White North".
Another member, 250 miles north of me, just saw his rates go up $400 this year.
Yet another member, living and riding in Arkansas, paid $89 for the year. Granted, this was on a Honda Shadow, but give me a break!
Where do you live? What do you ride? How long have you been riding? Any accidents or tickets? "How Much Do You Pay For Insurance?"....etc.

Ride safe!............................................Dave


"Assume Nothing"

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onelostsock
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Re: How Much Do You Pay For Insurance?

Postby onelostsock » Mon Jan 18, 2016 6:24 pm

Been riding (my second) Goldwing for 30yrs. this year.First one was an '86(bought new) that I had for 24 yrs, and now riding an '06. No tickets or accidents and full coverage for 12 months of the year and my insurance is about $150.00/yr.(I think that is thru AARP) Don't think I could afford Canada's rates!! :o

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CT1100
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Re: How Much Do You Pay For Insurance?

Postby CT1100 » Mon Jan 18, 2016 6:26 pm

With full coverage on my 2006 Harley Ultra Classic and liability only on my 83 GL1100I the policy equals $359 per year. That's with limits of 100/300 including passenger coverage with a $250 deductible and a clean driving record.

dennislp
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Re: How Much Do You Pay For Insurance?

Postby dennislp » Mon Jan 18, 2016 6:32 pm

been riding 45 years 2 tickets long ago in mo. full coverage with progressive 150 year

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robb
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Re: How Much Do You Pay For Insurance?

Postby robb » Mon Jan 18, 2016 7:59 pm

Been riding more than 50 years. Clean record and with 2 suv's, 1 ton truck, honda del sol; my 89 gl1500 cost $67 for 12 months coverage. It's paid for so that is liability only. Can't get coverage on my policy and don't care to change companies for bike.

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Solina Dave
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Re: How Much Do You Pay For Insurance?

Postby Solina Dave » Mon Jan 18, 2016 8:53 pm

robb wrote:Been riding more than 50 years. Clean record and with 2 suv's, 1 ton truck, honda del sol; my 89 gl1500 cost $67 for 12 months coverage. It's paid for so that is liability only. Can't get coverage on my policy and don't care to change companies for bike.


Robb, Let me get this straight. You have 2 suv's, a truck,a Honda Del Sol, and an '89GL insured for $67 a year. Liability only. When you say you can't get coverage, and don't want to change companies for the bike, what do you mean? Also, If you're at-fault in an accident, what is the maximum amount the insurance company will be liable to pay out?
So far, I'm thinking about moving to North Carolina :lol: ...................................Dave
"Assume Nothing"

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bstig60
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Re: How Much Do You Pay For Insurance?

Postby bstig60 » Mon Jan 18, 2016 9:48 pm

I have full coverage on both my bikes. The 99 Goldwing is about $200 per year and my 99 Virago 1100 is a little more than that. Surprisingly the more expensive bike costs less to insure.
Bill

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Rednaxs60
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Re: How Much Do You Pay For Insurance?

Postby Rednaxs60 » Mon Jan 18, 2016 9:53 pm

This is one reason I now have an '85 LTD. My '08 GW is $1500.00 a year - full coverage; $1000.00 for just liability. The '85 now has collector plates on it, I can drive it as often and as far as I want - I'm fully retired - for just under $500.00 a year. After the work I am doing, will have no problem driving it all over. Cheers

Ernest
"When you write the story of your life, don't let anyone else hold the pen"

Ernest

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Rednaxs60
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Re: How Much Do You Pay For Insurance?

Postby Rednaxs60 » Mon Jan 18, 2016 9:54 pm

Further to my last, in another four years I get a discount on the insurance as well.

Ernest
"When you write the story of your life, don't let anyone else hold the pen"

Ernest

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g2loq
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Re: How Much Do You Pay For Insurance?

Postby g2loq » Mon Jan 18, 2016 10:03 pm

Hello Dave,

I am French leaving in Germany. I have a bike in both places.
I am paying 600 EUR / year for my 2010 Goldwing in Germany, insured with full coverage and max bonus (50%) because of no claims in the last 30 years; This, with a deductible of 400 Euro.
In France, I am paying 180 EUR / year for my 1981 BMW R100RS because it is at minimum coverage and classified as an historical bike. My friends from my Goldwing forum in France are paying from 350 to 700 EUR / year for a recent goldwing at full coverage and with a deductible around 300 / 400 EUR. It has to be noted that the prices vary mainly depending on the place you are leaving (big cities or country side). It may just jump to double. Alike everywhere I guess, the other parameters are the age, the experience, the number of policies you may have with your insurance company and so on. The type of the bike is another factor: you shall pay much less for a goldwing bought at 30 000 EUR than a sport bike bought at 14 000 EUR. This, not only because it has ABS and much less KW, but because it is considered as a motorcycle driven mainly by mature people in a secure mode.
Last, please note that in Germany only one vehicle can be insured with a max bonus within the same company, while you may do so for as many vehicles as you have, in France. I do not know if it is still the case, but when I was in the UK, I could pay only one insurance for the coverage of two cars: they considered you cannot be driving two vehicles at the time.
For Your Info ;)
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Rednaxs60
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Re: How Much Do You Pay For Insurance?

Postby Rednaxs60 » Mon Jan 18, 2016 10:11 pm

I forgot to mention that my insurance on my '08 GW is with a 40% discount. BC does not have the cheapest insurance.

Ernest
"When you write the story of your life, don't let anyone else hold the pen"

Ernest

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Happytrails
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Re: How Much Do You Pay For Insurance?

Postby Happytrails » Mon Jan 18, 2016 11:37 pm

17yrs riding no claims or tickets in over 10yrs. $255/yr full coverage through State Farm but recently did a lot of research and will most l Iikely switch to Progressive. It will cost around $393/yr but will cover medical, accessories and gear. State Farm doesnt offer that. None of the other major insurer's i compared even come close. Don't like the idea of spending more on insurance but seems to me this time its probably worth it.
1991 GL1500 SE Anniversary Edition
Sun Flare Gold Metallic
Vallant Brown Inset

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bstig60
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Re: How Much Do You Pay For Insurance?

Postby bstig60 » Mon Jan 18, 2016 11:49 pm

Happytrails wrote:17yrs riding no claims or tickets in over 10yrs. $255/yr full coverage through State Farm but recently did a lot of research and will most l Iikely switch to Progressive. It will cost around $393/yr but will cover medical, accessories and gear. State Farm doesnt offer that. None of the other major insurer's i compared even come close. Don't like the idea of spending more on insurance but seems to me this time its probably worth it.

I have those coverages thru Allstate in CA. Don't know if they are available in PA.
Bill

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robb
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Re: How Much Do You Pay For Insurance?

Postby robb » Tue Jan 19, 2016 9:01 am

Solina Dave wrote:
robb wrote:Been riding more than 50 years. Clean record and with 2 suv's, 1 ton truck, honda del sol; my 89 gl1500 cost $67 for 12 months coverage. It's paid for so that is liability only. Can't get coverage on my policy and don't care to change companies for bike.


Robb, Let me get this straight. You have 2 suv's, a truck,a Honda Del Sol, and an '89GL insured for $67 a year.


Bike is $67

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Happytrails
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Re: How Much Do You Pay For Insurance?

Postby Happytrails » Tue Jan 19, 2016 11:08 am

bstig60 wrote:
Happytrails wrote:17yrs riding no claims or tickets in over 10yrs. $255/yr full coverage through State Farm but recently did a lot of research and will most l Iikely switch to Progressive. It will cost around $393/yr but will cover medical, accessories and gear. State Farm doesnt offer that. None of the other major insurer's i compared even come close. Don't like the idea of spending more on insurance but seems to me this time its probably worth it.

I have those coverages thru Allstate in CA. Don't know if they are available in PA.


I'm not sure either. I'll have to check. Most insurers I've looked at dont cover accessories or gear. Is that expecting too much?
1991 GL1500 SE Anniversary Edition
Sun Flare Gold Metallic
Vallant Brown Inset

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bstig60
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Re: How Much Do You Pay For Insurance?

Postby bstig60 » Tue Jan 19, 2016 11:38 am

I have 3000 accessory coverage thru Allstate, but my trailer is not included. It had to be added to my auto policy at an additional $47 per year.....
Bill

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WingAdmin
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Re: How Much Do You Pay For Insurance?

Postby WingAdmin » Tue Jan 19, 2016 12:16 pm

My GL1500 and my wife's PC800, both of us listed as drivers, full 100/300 liability coverage, 250 collision deductible, roadside assistance, here in Ohio under Nationwide, $640/year.

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Solina Dave
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Re: How Much Do You Pay For Insurance?

Postby Solina Dave » Tue Jan 19, 2016 12:29 pm

WingAdmin wrote:My GL1500 and my wife's PC800, both of us listed as drivers, full 100/300 liability coverage, 250 collision deductible, roadside assistance, here in Ohio under Nationwide, $640/year.


I'm not familiar with the term, but exactly what is 100/300 liability coverage? $640 a year sounds a little bit more realistic than some of the premium quotes I've been seeing.................................Dave
"Assume Nothing"

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Re: How Much Do You Pay For Insurance?

Postby WingAdmin » Tue Jan 19, 2016 12:32 pm

Solina Dave wrote:
WingAdmin wrote:My GL1500 and my wife's PC800, both of us listed as drivers, full 100/300 liability coverage, 250 collision deductible, roadside assistance, here in Ohio under Nationwide, $640/year.


I'm not familiar with the term, but exactly what is 100/300 liability coverage? $640 a year sounds a little bit more realistic than some of the premium quotes I've been seeing.................................Dave


$100,000 per person, $300,000 per incident, in bodily injury coverage, or third party/underinsured/uninsured injury coverage.

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urbanmadness
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Re: How Much Do You Pay For Insurance?

Postby urbanmadness » Tue Jan 19, 2016 3:08 pm

Interesting.

Mine is 168 bucks a year and I'm on a permit. Full coverage, 500 dollar deductible. No accidents, no tickets. I also have 4 other vehicles, insured thru them though. Liability is state min's though. Middle age has it's advantages I guess.

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Mh434
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Re: How Much Do You Pay For Insurance?

Postby Mh434 » Tue Jan 19, 2016 5:19 pm

For full insurance (basic liability + minimal extras) I'm at well over $2,000 per year...with the max safe-driver discount (40%), no accidents or infractions, etc. Some wonder why I don't insure year-round...$165 per month, when the weather is only rideable a day or two a month, is pretty expensive. For some reason, GoldWings are quite a bit more expensive to insure than Harleys (I was at a Blue Knights meeting a few days ago when this came up - we compared costs, and the Harley riders were paying a LOT less than the 'Wing riders, for identical Government coverage) :evil:

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Happytrails
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Re: How Much Do You Pay For Insurance?

Postby Happytrails » Tue Jan 19, 2016 5:28 pm

WingAdmin wrote:
Solina Dave wrote:
WingAdmin wrote:My GL1500 and my wife's PC800, both of us listed as drivers, full 100/300 liability coverage, 250 collision deductible, roadside assistance, here in Ohio under Nationwide, $640/year.


I'm not familiar with the term, but exactly what is 100/300 liability coverage? $640 a year sounds a little bit more realistic than some of the premium quotes I've been seeing.................................Dave


$100,000 per person, $300,000 per incident, in bodily injury coverage, or third party/underinsured/uninsured injury coverage.


Thats what I have too on both my truck and my bike.
1991 GL1500 SE Anniversary Edition
Sun Flare Gold Metallic
Vallant Brown Inset

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bstig60
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Re: How Much Do You Pay For Insurance?

Postby bstig60 » Tue Jan 19, 2016 6:29 pm

Mh434 wrote:For full insurance (basic liability + minimal extras) I'm at well over $2,000 per year...with the max safe-driver discount (40%), no accidents or infractions, etc. Some wonder why I don't insure year-round...$165 per month, when the weather is only rideable a day or two a month, is pretty expensive. For some reason, GoldWings are quite a bit more expensive to insure than Harleys (I was at a Blue Knights meeting a few days ago when this came up - we compared costs, and the Harley riders were paying a LOT less than the 'Wing riders, for identical Government coverage) :evil:

Is ICBC your only source of insurance for your Motorcycle?
Bill

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Mh434
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Re: How Much Do You Pay For Insurance?

Postby Mh434 » Tue Jan 19, 2016 6:33 pm

Unfortunately, yes - ICBC insurance is mandatory for basic coverage (the lion's share of the cost). Private insurance can be purchased for extras, but liability & basic insurance has to be purchased from ICBC.

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bstig60
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Re: How Much Do You Pay For Insurance?

Postby bstig60 » Tue Jan 19, 2016 6:37 pm

So no competition and the governments thumb in it. No wonder costs are so high..... It's bad enough that the government forces us in the US to have basic insurance, (liability). At least they don't fix prices, yet.......


Bill


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