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  (#1)
AMA Superbike Champ
 
fictionnn's Avatar
 
Posts: 732
Join Date: May 12, 2005
Location: Tampa FL
May 20, 2005, 09:47 AM

i just got a new bike as many of you know and i am getting ripped in half by my insurance co. my premeum is 5000 a year and i just cant afford that does anyone know an off the wall insurance co. that is wicked cheep or does someone know a bank or something that does not require full coverage?? i am desperate and need to figure out how to fix this so that i can keep my bike the last thing i want to do is sell it. PLEASE HELP ME!!!!


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  (#2)
BE ENCOURAGED!
 
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Posts: 4,197
Join Date: June 23, 2003
Location: Shenandoah Valley, VA
May 20, 2005, 09:49 AM

$5000?!?! Actually there have been several posts lately about this. Ask Tfinch. She seems to be the resident expert on this subject. I think she has checked out all of the companies.

Good Luck


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  (#3)
I'm so tired
 
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Posts: 3,694
Join Date: May 3, 2005
Location: Ashburn
May 20, 2005, 09:50 AM

I have Allstate...full coverage...only 32.00 a month. I'm not complaining.


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  (#4)
Site Owner
 
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Posts: 12,971
Join Date: March 9, 2004
Location: CashBurn, VA
May 20, 2005, 09:50 AM

How in the shit is your insurance 5000$? Did you run over someone in your car?

I have State Farm and my insurance is like 400$ a year full coverage for my 2003 954... was only 100$ a year for full coverage on my 95 F3.


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  (#5)
Groundhogs can play dead
 
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Posts: 11,603
Join Date: November 25, 2002
May 20, 2005, 09:54 AM

Fictionn, your driving record must be as bad as mine, but you're probably not 25 yet.

I called everybody and no one would help. I thought $2000 a year was bad for my R6, but you've definitely got me beat!
Long story short, I ended up refinancing my bike from a "motorcycle loan" to a "personal loan" and got liability insurance on it (~$270 per year). The only people that would insure me: Progressive. If you don't want liability only, you might want to refinance anyway, that way you can choose your coverage and deductables. ($1,000 deductable and comprehensive only, etc).


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  (#6)
Groundhogs can play dead
 
tfinch's Avatar
 
Posts: 11,603
Join Date: November 25, 2002
May 20, 2005, 09:58 AM

Other insurance companies: (keeping in mind, they're all gonna want to check your credit. this is bad).

-Motorcycle Insurance place (I forgot the real name). They wanted $6,000 per year. Don't bother calling them.
-Geico
-Allstate (if you've had a reckless in the last 2 years, and you're trying to insure a bike, forget it).
-Nationwide
-GMAC
-State Farm (great if your record is spotless)

try esurance.com and see how that works.
I know if you go to Progressive.com, you can get quotes from other companies, too.

GOOD LUCK!


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  (#7)
GP Racer
 
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Posts: 1,119
Join Date: April 14, 2005
Location: Ashburn, VA
May 20, 2005, 10:01 AM

My first quote was $1900 per year from Progressive. At 35 with a clean driving record I found this to be a bit step and it was a bike deal breaker for me. Called State Farm and got $350 per year.

Don't know how much you have shopped around but give it a shot.

That sucks man, is it just with the new bike because you financed it?
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  (#8)
GP Racer
 
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Posts: 1,116
Join Date: January 16, 2003
Location: Arlington
May 20, 2005, 10:13 AM

If your driving record is bad, forget about getting a decent rate. Thank all the people crashing their bikes on back roads and doing stunts, bike thieves - they gotta make their money back somehow.

Insurance companies are in business to make money, not to help people out of the goodness of their heart. They have an obligation to their investors.

When somebody crashes their bike, its pretty normal to run up 25k worth of damage to the bike/rider. How are they going to make their money back? They have to jack the rates for high risk riders.

My record is not perfect so I bought my bike in cash and I just get liability. Your best options are a home equity loan or 2nd best - a personal loan - which will cost a lot more finance rate wise.
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  (#9)
One and Only
 
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Posts: 6,281
Join Date: June 4, 2004
Location: Cumberland, MD
May 20, 2005, 10:15 AM

I'm a bit curious as to how exactly you're getting fucked?


You have control over 95% of the factors that contribute to your insurance rates.


Right up the 1 hole.
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  (#10)
AMA Superbike Champ
 
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Posts: 732
Join Date: May 12, 2005
Location: Tampa FL
May 20, 2005, 10:31 AM

well i found 3582.76 through allstate but that still wont cut it does anyone know if its possable to get a personal loan for 10900


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  (#11)
DAS BOOT
 
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Posts: 13,986
Join Date: June 28, 2004
Location: Hell, need some suntan lotion?
May 20, 2005, 10:33 AM

Firstly- what type of bike do you ride? Secondly.... who is your Insurance provider? Sounds like Progressive.

I did an online quote just to mess around and see... I was quoted $4300!!!!! WTF! That is with NO tickets. Must be because I am under 21
I am at Nationwide right now and for three bikes we pay 1500/ year?? I think??


Wow. Just..................wow.
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  (#12)
dirty old man in training
 
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Posts: 280
Join Date: June 16, 2004
Location: reston
May 20, 2005, 10:42 AM

i've got a similar problem because of my DUI....although this August is the five year anniversary so i should be able to switch. Most ins. co ask if you've had a DUI in the past 5 years!!! come Sept I am so shopping around.


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  (#13)
DAS BOOT
 
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Posts: 13,986
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May 20, 2005, 10:46 AM

I thought it was 7 years now....


Wow. Just..................wow.
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  (#14)
AMA Superbike Champ
 
fictionnn's Avatar
 
Posts: 732
Join Date: May 12, 2005
Location: Tampa FL
May 20, 2005, 10:49 AM

yeah its all because im under 25 and its a CBR1000RR


E_M_A_G_D_N_I_M
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  (#15)
Licensed Rider
 
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Posts: 151
Join Date: April 24, 2004
May 20, 2005, 11:02 AM

You should of got a Suzuki and only got liability .....The only way your gonna find reasonable insurance is if you have a car and insure your bike with the same company.
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