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Discussion Starter · #1 ·
A few years ago when I got my Ninja 250, my insurance agent said since it carries the "Ninja" name, that makes it a "race" bike and wanted $800usd a year for full coverage. Heck, I was only paying $700 a year for full coverage on my car! So I got liability for 50 bucks a year. Am I going to run into this problem if I get a R3?
 

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Some do! Progressive quoted me $1500 being a no ticket, no accident, 25 year old male. State farm does not, I pay $600 a year for COMPLETE coverage and $100 deductible.
 

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Just call the insurance companies to get some, "Before you buy" quotes. I had Geico quote me $1200 a year. State Farm $400 a year, and progressive $350 a year. So, it varies by age, location, usage, storage. Yadee ya so on and so forth. Either way, these bikes are technically considered super sports.
 

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Discussion Starter · #7 ·
Thanks. My wife and I have auto insurance with State Farm, so I'll call them for a quote. If full coverage is going to be more than about 300 a year I'll probably just get liability and comprehensive(in case it gets stolen as we live in an apartment and do not have a garage to keep it in).
 

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I have Geico..
No ticktets.
24 years driving.
22 years riding.
Full coverage no collision deductible, 100 compre deduct.
It cost me $222 per year.
 

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I'll probably just get liability and comprehensive(in case it gets stolen).
:laugh: Good luck with THAT. Insurance companies don't do that.
They don't let you "cherry-pick" what coverage you want. They bundle you, so they can stick it to you.

I pay $200 a year for my CBR and my R3. Liability only. If I try to add anything else, the monthly premium skyrockets.
Some insurance companies base the rate off the "cc" of the engine. They also take into consideration the "brand",
and the number of "claims" the specific model has against it historically.
You have to shop around. Period. The rates vary wildly. Try getting insurance for a Ducati 1299 Panigale. :laugh:
Do the MATH on what you would pay per YEAR, against what it would cost you to fix your bike yourself if you went down.
You are better off putting $2,000 in a shoebox, and hiding it under your bed. If you crash your bike, get the shoebox.
If you dont, you saved some money for something else later down the road. You pay that money to an insurance company, it's GONE.

Insurance is a crooked racket. It makes the scumbag executives very rich.
Wealthy people don't use it. They "self insure" with a blanket policy for all their toys, in an escrow account.
Insurance is for "the poor peasants". It's all a racket. A con scheme.
 

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I think it depends state to state, best get quotes yourself. I say this because someone above says Progressive considers it as one, but where I live, my Progressive rate is 280 a year full coverage, theft, etc.

My home and auto insurance of farmers quoted me 1200 for the r3, Geico also somewhere around there.

So yeah, just call around (or surf around- what I did). A hassle for sure, but one that will save you money.
 

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If you can pay cash for bike, you will save a ton of money on insurance. Having a loan that will need to be paid off if/when bike is totaled is what the actuaries consider when they produce the full coverage quote that keeps so many people from owning a bike. I realize that coming up with the $5000 to buy bike and gear is not always an option, but the savings from insurance and interest on loan is so worth the effort.
 

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21st century and Liberty Mutual both consider the R3 a sport bike. I asked them how could that be, with a 320cc engine. They both just laughed and said we don't make the rules.
 

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:laugh: Good luck with THAT. Insurance companies don't do that.
They don't let you "cherry-pick" what coverage you want. They bundle you, so they can stick it to you.

I pay $200 a year for my CBR and my R3. Liability only. If I try to add anything else, the monthly premium skyrockets.
Some insurance companies base the rate off the "cc" of the engine. They also take into consideration the "brand",
and the number of "claims" the specific model has against it historically.
You have to shop around. Period. The rates vary wildly. Try getting insurance for a Ducati 1299 Panigale. :laugh:
Do the MATH on what you would pay per YEAR, against what it would cost you to fix your bike yourself if you went down.
You are better off putting $2,000 in a shoebox, and hiding it under your bed. If you crash your bike, get the shoebox.
If you dont, you saved some money for something else later down the road. You pay that money to an insurance company, it's GONE.

Insurance is a crooked racket. It makes the scumbag executives very rich.
Wealthy people don't use it. They "self insure" with a blanket policy for all their toys, in an escrow account.
Insurance is for "the poor peasants". It's all a racket. A con scheme.
Actually they do let you cherry-pick (maybe depends on the company). For example I have comprehensive and collision on my R3 and ZX6R. No liability and no medical since they're race bike and that stuff would be just waste of money. I insure them simply in case of theft, fire, or if I get in an accident while they're in the trailer. At roughly $20/month for both it's worth it. In a year that's under $250, but if one of those things happen, I'm out over $10,000. Well worth the money! Insurance is a safety-net not a racket. You hope you never have to use it, but it's good to have in case it happens. What rich people do doesn't really matter...maybe you're right about that, maybe not, but it doesn't matter since the great majority of the population doesn't fall in that category.

I'm pretty sure even to this day I've got more money from insurance than I put in when it comes to bikes. When I had my Ducati, I had barely made one payment of like $70 before making a claim and got a $6200 check within days. Easy process, and best part was my insurance never went up a dime after that claim. I also fixed it for less than they gave me so I made money off that crash...unfortunately that was the only positive part about it :/
 

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Same as a lot of other people mention in this thread, I pay about $480 per year, which I got as a rate as a brand new rider with full coverage. That's also 100k property, 100/300 liability limits $500 deduct (it was a $24 difference per year for $500vs$1000). I got this with progressive, everyone else wanted at least $150/month or more which was ridiculous, although NC is the 3rd highest for motorcycle accidents/fatalities I believe...
 

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:laugh: Good luck with THAT. Insurance companies don't do that.
They don't let you "cherry-pick" what coverage you want. They bundle you, so they can stick it to you.

I pay $200 a year for my CBR and my R3. Liability only. If I try to add anything else, the monthly premium skyrockets.
Some insurance companies base the rate off the "cc" of the engine. They also take into consideration the "brand",
and the number of "claims" the specific model has against it historically.
You have to shop around. Period. The rates vary wildly. Try getting insurance for a Ducati 1299 Panigale. :laugh:
Do the MATH on what you would pay per YEAR, against what it would cost you to fix your bike yourself if you went down.
You are better off putting $2,000 in a shoebox, and hiding it under your bed. If you crash your bike, get the shoebox.
If you dont, you saved some money for something else later down the road. You pay that money to an insurance company, it's GONE.

Insurance is a crooked racket. It makes the scumbag executives very rich.
Wealthy people don't use it. They "self insure" with a blanket policy for all their toys, in an escrow account.
Insurance is for "the poor peasants". It's all a racket. A con scheme.
I agree totally with respect to the damage we do to our own bikes - usually it's better to just shoe-box the money as you say.
It's not the damage to your bike that's the issue it is the damage to other people, yourself, and the property of others. Many basic liability policies only cover damage to another person not damage to property, or the rider. A very minor accident can ruin a young person financially if they don't have some kind of cover for damage to the property of others.

Note: this will not be the case in all countries - here in Australia though the minimum form of insurance is a massive gamble as it does not cover property damage.
 

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I use progressive, 43, clean record and went overboard on my coverage with extra medical payout to cover my standard insurance deductible, road side assistance, trip interruption, extra coverage for all of my mods plus all of my gear like my jacket, pants, helmet, GoPro, etc, $100 deductible on everything and it is $41/mo for that coverage. I don't go by yearly because it drops down to storage insurance between November and April due to the weather here. It costs me $11/mo for the winter months.
 
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It's not the damage to your bike that's the issue it is the damage to other people, yourself, and the property of others. Many basic liability policies only cover damage to another person not damage to property, or the rider.
Liability policies cover damage to others. Keep in mind, if the accident is not your fault in the first place,
the person who is at fault for the accident is responsible for covering damage and expenses.
Liability covers others when YOU screw up.
If your bike hits a car or truck, you will do a little damage to the car or truck, but the bike will take most of the damage.
( Unless you are Yammie Noob doing 100mph on the wrong side of the road )
It's about managing risk. Can you ride your bike SAFELY in traffic? Or do you speed around the city weaving around
cars like an idiot everytime you ride? I am super careful when I ride. I am low risk.
I have no tickets or accidents. I pay attention when I ride, or drive my car. I don't even own a cell phone.
If you are a risky person, maybe you need more insurance. For me... I don't want ANY insurance. But we all have to
have some insurance to be legal on the road. It is what it is.
 

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Is considered a race bike because is built as a race bike if you don't want to be charge for a race bike go buy the MT03, also the engine CC is not considered 300CC bikes could be dangerous as 600CC or 1000CC bikes.
 

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Engine CC's are definitely factored into insurance costs, this was told to me by several insurance agents. It's not the ONLY factor, but definitely A factor
 

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Discussion Starter · #20 ·
Yesterday I called my St Farm agent. She quoted about $330usd a year for full coverage with 500 deductible, no PIP or medical payments. That's not too bad.
 
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