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Discussion Starter · #1 ·
Hey yall I'm new here and am going Saturday to look a a new R3 they have for $4500. Trading in my 2000 CBR600 f4 for it. What are yall paying for insurance on your R3's I'm hoping that it would be less than my 600 cause I'm paying $72 a month just for liability on it
 

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I am 18, and paying 530€ FULL Coverage. But have to pay 1000€ on my own if something happens...
Living in Germany. My Insurance is just for Riders... Else you pay around 1200-1800€/yearly :)
 

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In Ontario Canada you get ****** in the *** when you get insured. 25 with M2 paying 2500 for the year with my R3
 

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Discussion Starter · #5 ·
Just went talked to a few insurance company's and the only one to give me a decent quote is state farm for $120 a month for full coverage. My current insurance company wouldn't insure it cause its a sports bike and allstate said I had to be 26 to insure it or have a car with them. Because it is a "high performance bike".... it's a 320cc bike it's sporty but not high performace
 

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Just went talked to a few insurance company's and the only one to give me a decent quote is state farm for $120 a month for full coverage. My current insurance company wouldn't insure it cause its a sports bike and allstate said I had to be 26 to insure it or have a car with them. Because it is a "high performance bike".... it's a 320cc bike it's sporty but not high performace
I think Yamaha made an error by putting the R3 in the SuperSport category.

The Ninja 300 is in the Sport category, as are the Honda CBR300R and the Suzuki GW250F (admittedly it's not in the same league, but it is a fully-faired sport model). The KTM RC390 is the only other small displacement model put in the SuperSport class.

As an entry-level bike for a lot of new riders, who are generally young and may not have a lot of cash, classifying it as a SuperSport (like the R6 & R1) kills sales for it if potential buyers can't afford the cost to insure it. That's a bad marketing strategy.

I also fault Insurance Companies (in many ways) for not taking into consideration the small displacement.
 

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Just went talked to a few insurance company's and the only one to give me a decent quote is state farm for $120 a month for full coverage. My current insurance company wouldn't insure it cause its a sports bike and allstate said I had to be 26 to insure it or have a car with them. Because it is a "high performance bike".... it's a 320cc bike it's sporty but not high performace
Welcome to the real world where many "newbie" riders wreck these bikes. They do not have experience, jump on one these bikes, slip the saddle, whip around a corner - and OH S*** - down goes another one..... And we - the public - pay the price for all that foolishness since now it is a bike with a lot of accidents and is being plotted on a graph.....So if you own one, you are gonna pay for all those wrecks.....
 

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Welcome to the real world where many "newbie" riders wreck these bikes. They do not have experience, jump on one these bikes, slip the saddle, whip around a corner - and OH S*** - down goes another one..... And we - the public - pay the price for all that foolishness since now it is a bike with a lot of accidents and is being plotted on a graph.....So if you own one, you are gonna pay for all those wrecks.....
This is true, but all of these bikes have the same accident statistics but the same age riders pay MUCH, MUCH less for insurance on them because of how they are classified. That makes the young R3 riders shoulder a disproportionate share of the insurance claims payouts when they don't crash any more often than those riding N 300's, CBR300R's or GW250F's.

I can't find the article right now, but I read one that stated that Ninja 300 riders have the most accidents and the most SERIOUS accidents among this displacement class. Yet, in many cases the owners of these bikes pay way less for insurance, merely because their bike is classified in the Sport category.

I know life isn't fair, but that just doesn't compute.

I pay $135 a year with very high coverage and $2,500 in accessories coverage, too. But, then, I'm 63!
 

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This is true, but all of these bikes have the same accident statistics but the same age riders pay MUCH, MUCH less for insurance on them because of how they are classified. That makes the young R3 riders shoulder a disproportionate share of the insurance claims payouts when they don't crash any more often than those riding N 300's, CBR300R's or GW250F's.

I can't find the article right now, but I read one that stated that Ninja 300 riders have the most accidents and the most SERIOUS accidents among this displacement class. Yet, in many cases the owners of these bikes pay way less for insurance, merely because their bike is classified in the Sport category.

I know life isn't fair, but that just doesn't compute.

I pay $135 a year with very high coverage and $2,500 in accessories coverage, too. But, then, I'm 63!
It is all based on graphs and charts.... plug in bike type, risk factors, location, and only to a lesser extent, riders age and experience. There is your equation. I am 65 and full coverage would be over $600 / year. Just liability and comp (fire/theft) is almost $200. I have ridden for 47 years with NO claims / accidents - it doesn't matter. Due to class of bike - and the fact that one drop can total this bike - this is where the point on the chart is....I have only the liability. In a number of years, I would pay for the bike in insurance.
 

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It is all based on graphs and charts.... plug in bike type, risk factors, location, and only to a lesser extent, riders age and experience. There is your equation. I am 65 and full coverage would be over $600 / year. Just liability and comp (fire/theft) is almost $200. I have ridden for 47 years with NO claims / accidents - it doesn't matter. Due to class of bike - and the fact that one drop can total this bike - this is where the point on the chart is....I have only the liability. In a number of years, I would pay for the bike in insurance.
I just don't think that's the case with the R3. I think it's the classification that's the problem.

A quick look through the Insurance threads on the Forum will show lots of quotes in the $3,000 plus range, with one quote of 5,900 a year!

Note this variation in rates:

Originally Posted by DrDangus
"I did some shopping around for quotes online and everything was ridiculous for the r3. I'm under 25, so most were just over $100/month for full coverage, GEICO wanted over $4000 a year!! I did the same quotes for the ninja 300, barely $30/month for me for full coverage. How long does it take to get the bike reclassified??"

I've heard the same before (including for the RC390, also a SuperSport classified bike), it's not uncommon for the R3 to come in at 3-5 times the rate as for a Ninja 300. It could be partly because the R3 is a new model and they don't have a good picture yet of how claims will go for this bike. Rates could drop in year or so.

Some companies may just not really want to write policies on these bikes because of the accident rate, so they quote astronomical rates, but others are just plain gouging.
 

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I just don't think that's the case with the R3. I think it's the classification that's the problem.

A quick look through the Insurance threads on the Forum will show lots of quotes in the $3,000 plus range, with one quote of 5,900 a year!

Note this variation in rates:

Originally Posted by DrDangus
"I did some shopping around for quotes online and everything was ridiculous for the r3. I'm under 25, so most were just over $100/month for full coverage, GEICO wanted over $4000 a year!! I did the same quotes for the ninja 300, barely $30/month for me for full coverage. How long does it take to get the bike reclassified??"

I've heard the same before (including for the RC390, also a SuperSport classified bike), it's not uncommon for the R3 to come in at 3-5 times the rate as for a Ninja 300. It could be partly because the R3 is a new model and they don't have a good picture yet of how claims will go for this bike. Rates could drop in year or so.

Some companies may just not really want to write policies on these bikes because of the accident rate, so they quote astronomical rates, but others are just plain gouging.
Could be - however, I also had a Ninja 250, and full coverage rates were astronomical for that too. It boiled down to your geographical area, the fact that a small collision - or drop - totaled the bike, and also that many new riders wanted these - and as new riders - subsequently wrecked them....Puts the bike in a classification of higher risk. In my area, the R3 seems to be not much more than the Ninja.
 

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Discussion Starter · #13 ·
Yeah the only thing that is saving me with state far is that they didn't do the R3 by its class but judt by engine size ad what is hurting me is the fact that im young. Im gonna see if by increasing my deductible i can get my insurance a little lower, but i still plan on picking it up tmorrow. As far as know ill be on the only one in my area.
 

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Yeah the only thing that is saving me with state far is that they didn't do the R3 by its class but judt by engine size ad what is hurting me is the fact that im young. Im gonna see if by increasing my deductible i can get my insurance a little lower, but i still plan on picking it up tmorrow. As far as know ill be on the only one in my area.

That's an interesting feeling. I have yet to see another one in Windsor. They all notice it though, always wondering what it is. Looks way more expensive than what you pay for it.
 

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LOCATION LOCATION LOCATION. We have the highest insurance rates in the nation.
In Denmark it all depends on age, city of living and motor size..

Even though I live in the 4th biggest city in Denmark I pay 280usd pr year with full coverage and thief protection ( I believe it's called?:) ) if something happends I have to pay a insurance-fine off 400 USD..
 

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Discussion Starter · #18 ·
LOCATION LOCATION LOCATION. We have the highest insurance rates in the nation. Oh that blue R3 needs some mods done to it!
Yeah I know haha. First thing to be done to it will be a rear fender elimination kit and a yoshimura full exhaust and a power commander
 

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I went with progressive, I am 26, no accidents, 1 car but different insurance,
full coverage.
100k/50k/100k rates I think it was
500 deduct on collision.
first bike thou. no experience
but did the MSF course like 2 weeks before buying my bike.
paying 77 dollars. Full coverage


oh yeah I am in California ( most accidents in the planet)
 

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520/yr 100/300/100 with unins. Motorist, roadside, 3k in accessories through progressive with a 250 deductible. I'm 28 with a clean record.
 
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