How much is the insurance premium for R3 in your country? - Yamaha R3 Forum
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post #1 of 45 Old 07-12-2016, 05:20 AM Thread Starter
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Question How much is the insurance premium for R3 in your country?

Hi all,

I'm from India and trying to understand how the insurance premium works in other countries.
Below is a sample split up of the price. In this the insurance is comparatively less which is for the bike and rider. How does it work in US and other countries? Why is it very high in there?

Ex-show Room Price ₹ 3,30,778
Insurance ₹ 6,913 (around 104 us dollars for one year)
Road Tax ₹ 19,847 (15 years tax collected for new vehicles)
Other Charges ₹ 12,570
On Road Price ₹ 3,70,108
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post #2 of 45 Old 07-12-2016, 07:23 AM
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I pay $432.00 USD per year, but I have high limits for liability same as my car.

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post #3 of 45 Old 07-12-2016, 07:29 AM Thread Starter
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Originally Posted by Ride4Ever View Post
I pay $432.00 USD per year, but I have high limits for liability same as my car.
Wow, this is too much money for insurance when compared to here for a 300cc bike. Almost premium sedan car insurance money. Is your insurance calculated upon the risks conditions in US?
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post #4 of 45 Old 07-12-2016, 07:35 AM
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Well, Insurance tends to vary quite a bit. Anything from where you live, to your age, prior driving(car) or riding(motorcycle) history, how long your average riding season is, and how comprehensive your insurance plan is. Here in the US at least, there's also many insurance companies, all giving different rates for different reasons.
Here, you don't get insurance at the dealer. You have to get it on your own and show the dealer you have it in order to take the bike home. It's a separate but required product that seems to have very little consistency.

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post #5 of 45 Old 07-12-2016, 11:46 AM
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My insurance just went up by $12 a month because I guess this bike is being seen as more risky than when I fight got it from people crashing and making insurance claims. That's a 30% increase!! I'm about to drop collusion on this bike since it has gone up I feel stupid paying about $450 for a 300cc bike. I currently have 100/300/50 w/ $250 deductible. collision, uninsured motorist, towing all that jazz

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post #6 of 45 Old 07-12-2016, 12:19 PM
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In oz it goes by Age or rider, years of licence, years without claims, parking, and postcode.


ie a young new rider in a city (where more thefts and incidents take place) could pay $2000 per year
vs an older rider in a rural area, and vehicle parked in a lock up garage.


thus I only pay $222Au full comprehensive low excess of $400, riding gear covered as well.


Swann is one of the major bike insurers-
https://www.swanninsurance.com.au/home/


Mines a track bike but I keep it road licensed so I can keep it insured, its easier.

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post #7 of 45 Old 07-12-2016, 01:01 PM
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I'm at $362 full coverage for the year.
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post #8 of 45 Old 07-12-2016, 01:01 PM
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Approx US$743 a year for the 20 year old boy from Singapore :lol:. Supposed to have a 10% No-Claim Discount for having no insurance claim from my past 1 year of riding but because I was not the main owner of the previous vehicle so I wasn't entitled to that 10%
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post #9 of 45 Old 07-12-2016, 01:46 PM Thread Starter
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Originally Posted by sjyong View Post
Approx US$743 a year for the 20 year old boy from Singapore :lol:. Supposed to have a 10% No-Claim Discount for having no insurance claim from my past 1 year of riding but because I was not the main owner of the previous vehicle so I wasn't entitled to that 10%
This is more than the insurance rate of brand new R1 in India for one year.
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post #10 of 45 Old 07-12-2016, 01:53 PM Thread Starter
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In oz it goes by Age or rider, years of licence, years without claims, parking, and postcode.


ie a young new rider in a city (where more thefts and incidents take place) could pay $2000 per year
vs an older rider in a rural area, and vehicle parked in a lock up garage.


thus I only pay $222Au full comprehensive low excess of $400, riding gear covered as well.


Swann is one of the major bike insurers-
https://www.swanninsurance.com.au/home/


Mines a track bike but I keep it road licensed so I can keep it insured, its easier.
These sound ridiculous at least from my perspective coming from a country where there is no distinction in age/location etc doesn't matter for getting insurance. Only the rate differs slightly from one company to another(reliability is another factor). in fact the insurance is another paper which the dealer will give for first time unless you opt out for a different one.
Maybe this is another reason why bikes are so less in other countries where it doesn't make any sense to put a load of money on two wheels just for insurance.
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