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Prohibitive Insurance Cost!
- Thread starter elmerfud
- Start date
Diezel
كافر extraordinaire
In some cases, it can be rather dramatic. Especially in the case of a Brand New bike w/ Comprehensive coverage.
Screw progressive. Most expensive company I know of. Try Allstate (ESurance is owned by them now), AAA, State Farm, and Farmers. Hell even Geico.
It's easier to see the numbers, by actually calling a company. Giving them the info, and having them tinker with the model year.
In my case, when my bike was New. Full coverage was $6k a year. Now it's $1100.
Screw progressive. Most expensive company I know of. Try Allstate (ESurance is owned by them now), AAA, State Farm, and Farmers. Hell even Geico.
It's easier to see the numbers, by actually calling a company. Giving them the info, and having them tinker with the model year.
In my case, when my bike was New. Full coverage was $6k a year. Now it's $1100.
Last edited:
psychocandy
wrecker
- Joined
- Mar 5, 2008
- Location
- Oakland
- Moto(s)
- '71CB500, '60Vespa, '65Lambretta, '95FZR600, '02SV650s, '00KTMLC4, '05SV650N, '06 DRZ400sm
Sounds like a big city problem. Not one I am terribly concerned about.I am not an "at risk" driver. I ALWAYS have insurance. I have no loyalty to any one insurance company and welcome competitive rates when changing companies. This will help that aspect of insurance shopping.
The last time this was proposed it shut out Military Service personnel that may have been uninsured during deployment. That has been omitted from this prop.
That's all completely besides the point. Sure, you can't imagine not having a car and not having insurance. But it's a perfectly legitimate choice to not have one.
Besides, you don't actually think your rates are gonna go down because of this proposition?
MysterYvil
Mr. Bad Example
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- Jun 28, 2008
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- Erehwon (Shangri-La)
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- Alas, they are all in the past
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Of course they will!
Just like utility rates dropped after we all voted to deregulate that industry!
Oh My Sack!
Rides at speed of smell
"That's all completely besides the point?"
No...it IS the point.
Because you're one of a miniscule few that allows their coverage to lapse, that puts you right up there with the group that does not carry coverage. And for that I should have to pay more if I initiate a new policy with a new carrier?
The prop doesn't claim to lower my rates. It allows more companies to enter in to the market creating a competitive environment for people that are responsible enough to have regular coverage that is not lapsed for more than 90 days. There are other conditions that apply for extenuating circumstances.
But bottomline, your argument is moot with me. My ballot was turned in over a week ago.
psychocandy
wrecker
- Joined
- Mar 5, 2008
- Location
- Oakland
- Moto(s)
- '71CB500, '60Vespa, '65Lambretta, '95FZR600, '02SV650s, '00KTMLC4, '05SV650N, '06 DRZ400sm
Choosing not to own a car, and allowing your coverage to lapse are two completely different things.
Diezel
كافر extraordinaire
I actually gotta agree with you here on this. I'm wondering how the insurance industry is going to handle (differently then now) the folks who live in a huge metropolis and do not need a car. And then relocate and have a new license, new car, and need insurance, vs the people who have a license (of over 10 years), NO car ownership and insurance for x amount of years.
I doubt very seriously that it will be fair to the vehicle owning public.
Jiggles
Just me
Interesting, AAA is the only company that gave me a quote under 3k/year, though the rate did change from my first inquiry in Dec 2011 to when I bought the bike in July. Dec was $1200/yr (just a quote) and what I ended up with was $1600/yr, full coverage high limits
belltold12
New member
If you actually talk to an agent can you end up with a better deal on insurance? Or will it pretty much be inline with whatever quote you pull up on the computer?
Ducati has an OEM Promo on all 2012 848 evo's that they'll pay the first six months of the loan, and with a long enough term I could potentially afford an 848 evo corse se, assuming I can get it for the right price OTD. However once again the insurance on it is higher than I had in mind and could be a deal breaker. I want to start calling someone on these quotes and find out if there's anyway to get them lower, or should I just assume it's not gonna change enough to become affordable...
Ducati has an OEM Promo on all 2012 848 evo's that they'll pay the first six months of the loan, and with a long enough term I could potentially afford an 848 evo corse se, assuming I can get it for the right price OTD. However once again the insurance on it is higher than I had in mind and could be a deal breaker. I want to start calling someone on these quotes and find out if there's anyway to get them lower, or should I just assume it's not gonna change enough to become affordable...
Diezel
كافر extraordinaire
No offense man, if you even have to think about "affording" the payment and insurance on a Ducati. You aint ready for it.
belltold12
New member
Slight offense taken, but please clarify: Are you referring to my riding ability or my budget overall?
Based on all the insurance quotes I've gotten my rates will have more to do with how many total claims have occurred vs. my personal history.
As for my budget... I'm tight-ish on money these days and am considering the Duc because it meets various criteria I have plus that OEM promo is pretty awesome. My only concern is if I spring on a ducati, whatever money I saved by taking advantage of that deal vs a different bike, will just be spent on insuring it and thus working out in the big picture to not be that great of deal.
Based on all the insurance quotes I've gotten my rates will have more to do with how many total claims have occurred vs. my personal history.
As for my budget... I'm tight-ish on money these days and am considering the Duc because it meets various criteria I have plus that OEM promo is pretty awesome. My only concern is if I spring on a ducati, whatever money I saved by taking advantage of that deal vs a different bike, will just be spent on insuring it and thus working out in the big picture to not be that great of deal.
psychocandy
wrecker
- Joined
- Mar 5, 2008
- Location
- Oakland
- Moto(s)
- '71CB500, '60Vespa, '65Lambretta, '95FZR600, '02SV650s, '00KTMLC4, '05SV650N, '06 DRZ400sm
I'm with Dopesick, motorcycles are awesome. They CAN be practical sometimes, but they definitely lean towards the toy side. If you have to think about whether you can afford this Duc or not and maybe the insurance will put you over the edge on your budget, you should just stop right there.
Live within your means.
Live within your means.
Marcoose
50-50
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- Jun 24, 2009
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- South Beach, SF
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- Marc
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And I'm with you and Dopesick.
A Honda 599 is a nice commuter and fun on the twisties. A Ducati is a toy. Anybody questioning the cost of insuring a Ducati shouldn't own a Ducati. Live within one's means.
belltold12
New member
Hmmm thanks for the advice, although it had nothing to do with what I asked. Could try and explain my stance more but it's not worth it. I'll be sure to post pics when I get my next bike whether its an 848, 1100 monster, or Z1000
Burning1
I'm scareoused!
You should call around for a quote before insuring, and make a decision based on that.
As others have said, if owning a Ducati would at-all stretch your budget, don't do it. The pleasure of owning a sport bike will not compensate for the stress of losing disposable income. I'd much rather have a beater and cash than a beauty and debt.
As others have said, if owning a Ducati would at-all stretch your budget, don't do it. The pleasure of owning a sport bike will not compensate for the stress of losing disposable income. I'd much rather have a beater and cash than a beauty and debt.
stan23
Well-known member
I would read the fine print on that 6 months special before you do anything else..
As you can see, it's a big joke! It looks like you'll need to pay their 4.99 APR just to get the six month dealio. Not worth it.
Just another recommendation for State Farm, primarily for service. I've used them for years for the cars and to be honest, I've never really seriously priced other companies, but everyone always tells me that my rates are insanely low compared to theirs.
Liability at $1,000,000/$1,000,000 and deductible at $500 with UIM at 500,000/250,000
The only thing I can really do to make it better is reduce the deductible to $250. On a 2008 ZX-10r
Total premium is $516 I think I would have a tough time finding something better with another company. I guess it also helps to be really old!
Liability at $1,000,000/$1,000,000 and deductible at $500 with UIM at 500,000/250,000
The only thing I can really do to make it better is reduce the deductible to $250. On a 2008 ZX-10r
Total premium is $516 I think I would have a tough time finding something better with another company. I guess it also helps to be really old!
SFSV650
The Slowest Sprotbike™
How did the insurance company justify that?
stan23
Well-known member
Just another recommendation for State Farm, primarily for service. I've used them for years for the cars and to be honest, I've never really seriously priced other companies, but everyone always tells me that my rates are insanely low compared to theirs.
Liability at $1,000,000/$1,000,000 and deductible at $500 with UIM at 500,000/250,000
The only thing I can really do to make it better is reduce the deductible to $250. On a 2008 ZX-10r
Total premium is $516 I think I would have a tough time finding something better with another company. I guess it also helps to be really old!
The thing about insurance is that there really isn't a simple formula. Over the years, insurance quotes are passed out using so many different variables, it's impossible to use someone similar as a guideline for price.
Caddywumpus
4N631
Out of network.