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Japaneese Bike Insurance Rates Are Crazy

6K views 31 replies 16 participants last post by  luciano136 
#1 ·
As some of you may know, I am no longer a Daytona owner.

I am trying to figure out which bike to go with next, and my top two are: 2016 GSXR 750, 2016 R3.

My Datyona was $750/year - full coverage

Facts about me:
-No accidents, traffic violations
-Near perfect credit score

Rates I am hearing for full coverage:
-GSXR 750 - $1360-$4000
-ZX65 - $2700
-R1S - $3400
-R3 $380-$500

This is madness.
 
#4 ·
Yes. It's just like cars. A corvette z06 is cheaper than a s2000 for me to insure. Why? Because goobers wreck s2000's and they're frequently stolen. My old '06 Gixxer was more expensive than my Ducati Streetfighter to insure. All these insured at the same time and same coverages.

I say go with a Yami FZ-10! Maybe it won't be classified as a sports bike.
 
#8 ·
I used to be progressive because I have usaa and they partner with progressive for motorcycle insurance since usaa doesn't deal with that stuff. Got a good price on my ninja 309 and literally 2 months later all state hits me up and slashes my prices in half while doubling my coverage, needless to say I stuck with them and they now are my insurance choice for my 675 since its bundled with the 300

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#11 ·
State Farm motorcycle base rates start with cc's. Then your age, claims history, and where you live (motorcycle theft and accident statistics) factor into the rating. Where your bike was made has nothing to do with the rate.

Some companies also factor in your credit rating, wether or not you are married or divorced, and discounts for multiple vehicles or policies.
 
#12 ·
State Farm motorcycle base rates start with cc's. Then your age, claims history, and where you live (motorcycle theft and accident statistics) factor into the rating. Where your bike was made has nothing to do with the rate.

Some companies also factor in your credit rating, wether or not you are married or divorced, and discounts for multiple vehicles or policies.
I agree, but you're missing one very important factor, which is the history of the specific motorcycle. Japanese motorcycles/cars are simply wrecked and stolen more. If it were European vehicles, then their insurance would be higher. Precisely why insurance on a corvette (not European but you'll get the analogy) is cheaper than an S2000. Old folks drives vettes and keep them in the garages. Thus they're not wrecked and/or stolen nowhere near as much as an S2000. This is the problem motomeets is running into. Jap bikes are simply more to insure.
 
#13 ·
Relax, man. Just a poor attempt at satirical humor.

I have only owned Japanese bikes, and the Street Triple (which is actually Thai) and I've certainly noticed the "sportier" ones were more expensive to insure. Most expensive was a '12 GSX-R 750, in fact.

I do believe, however, that their statistical models are more sophisticated than you give them credit for. I would expect to pay roughly the same to insure an S1000RR as an R1, for example.
 
#14 ·
Relax, man. Just a poor attempt at satirical humor.

I have only owned Japanese bikes, and the Street Triple (which is actually Thai) and I've certainly noticed the "sportier" ones were more expensive to insure. Most expensive was a '12 GSX-R 750, in fact.

I do believe, however, that their statistical models are more sophisticated than you give them credit for. I would expect to pay roughly the same to insure an S1000RR as an R1, for example.
Gotcha. My apologies. Couldn't tell if that was a joke or not. I completely agree their statistical models are complex and continuously evolving. Ask those folks with Dairyland :) But people often overlook that even though two bikes may be in the same class, that the rates can vary greatly. This is because insurance models are getting more complex and "smarter".
 
#18 ·
You're missing my point. I'm simply stating why rates can vary for similar vehicles for the SAME person. That's the only changing variable, unless you're using a different address for each bike or your credit score differs between bikes. Suppose my credit score is higher when I'm riding my Duc than my gixxer. Just being facetious here.
 
#17 ·
I'm also sure that since jap bikes tend to be on the cheaper side of things you get a younger and rowdier audience, I'm sure the average age of for a jap bike is 18-25(maybe younger. Once you get out of that bracket your insurance will be lower. I got a ninja 300 at the Age of 23 as my first bike brand new and insurance was just under 300 for a year( I live in Ohio) and my bro gets an r3 just last November at the age of 25 with a few speeding tickets and his insurance happens to be just over a grand and he is with progressive. I agree I think it comes down to demographics, age and driving history more so

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#24 ·
In 2003 I bought a brand new 955i Daytona and was paying $260 a year for full coverage insurance through Farmers. I was 33 at the time.

In 2006 I was contacted by my agent, and even though I had made no claims during this time, he stated my rates would be raised considerably as Farmers was re-classifying my bike as a "sportbike".

My new rate was going to be $214

A MONTH!

2 months later I sold my Daytona, it was insane to keep it.

Now I ride a 2015 street triple 675rx. This is the closest I can really get to a Daytona, without the insurance penalty.

I currently pay about $450 a year for full coverage at 46 yrs old.

Still seems high to me as pretty much any "cruiser" bike I want to insure is about half that.

D
 
#25 ·
In 2003 I bought a brand new 955i Daytona and was paying $260 a year for full coverage insurance through Farmers. I was 33 at the time.

In 2006 I was contacted by my agent, and even though I had made no claims during this time, he stated my rates would be raised considerably as Farmers was re-classifying my bike as a "sportbike".

My new rate was going to be $214

A MONTH!

2 months later I sold my Daytona, it was insane to keep it.

Now I ride a 2015 street triple 675rx. This is the closest I can really get to a Daytona, without the insurance penalty.

I currently pay about $450 a year for full coverage at 46 yrs old.

Still seems high to me as pretty much any "cruiser" bike I want to insure is about half that.

D
Wow man, that is rough.

I was fully insuring a '13 Daytona with max coverage at 750/year, at 27.
 
#27 ·
I wouldn't count on euro bikes being cheaper than JPN bikes. The 1299 is is one of the most, if not the most expensive superbike you can insure.

The RSV4 was the cheapest of the superbikes to insure, but that has changed due to the amount of claims on them in the past year. Lot of people complaining on the Aprillia forums this week. Most have had a $40 a month jump. Mine jumped $30. Insurance cost is now the same as a R1.

Also the same price as a F3 800 now.
---------------------------------

2014 Triumph Daytona 675R 2/22/14 - 8/22/15

2016 Aprilia RSV4 RR 8/29/15 - ???

2006 Honda CBR 600RR Track Only 1/02/16 - ???
 
#28 ·
Thank goodness the Street Triple flies under the radar. Currently, while still bank owned my '12 is costing me $275/year with 250/250 deductibles from State Farm. I am 38, excellent credit, no accidents for almost two decades and no claims of any kind for about 10 years. I live in a county with a population of 80,000.


I was trying to explain the huge amounts of money it takes to insure a super sport to a buddy of mine recently who recalls paying $25/month back in the late 90s for a 929rr. He thinks I'm crazy to tell him it'd likely be a grand a year for a simar bike now.

Riders went from one of the best insurance companies for motorbikes to one of the most expensive with the simple reclassification of several motorcycles. Glad I never signed up with them.
 
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