Insurance for FJR

[waldmana]

Not sure what topic this should go under. Anyways, I just started my policy with GEICO and it is costing $920 a year for the 06 FJR. I am married, mid thirties and I own a house. Is this to much to pay? Also, GEICO only covers the helmet if I go down. They do not cover my gloves, jacket or pants. Do any policies out there cover this stuff? Any help is appreciated.

 

[luvtoride]

Be ready for this post to be whisked away to it's proper resting spot in "INSURANCE" by the friendly neighborhood admins.

But b4 that happens... that price doesn't seem totally out of line... but probably a bit high. It really all depends on the area that you live, age, credit, etc.

And yes, I did say credit... not too long ago I was told a story of insurance going down. The reason: good credit report.

I think that I'm paying somewhere around $700-750 a year for full coverage/no medical since my meds are through the company I work for.

 

[waldmana]

Thanks. I went ahead and got in touch with Dairyland/Sentry and what a huge difference. Geico wants $920 for Arizona while Dairyland/Sentry want $504 for a years worth of coverage. The kicker, Dairyland is covering more than Geico for less. Where do these companies get their pricing from? Oh well, I just saved money on my insurance and it's not with Geico.

 

[Scab]

A lot depends on where you live and crap like that. I have geico and it is only 350 per year.

My homeowners policy is priced by how many claims are filed in the regional area. Really! The insurance dude told me when I called him all excited about the new fire hydrant installed in my yard. (thinking it would lower my premium) All these insurance companies share the data. It is not just claims within X or Y company, but all of them. From this, they assume the chances of you filing a claim. I am not sure about bikes, but I would bet they do the same thing.

 

[jwilly]

I tried to go with Dairyland/Sentry and they wouldn't cover me because of my driving record. If they would have covered me the quote was for $576/yr. I continued my search and end up with Progressive, full coverage, $1000 ded and roadside assistance included for $308/yr!!

FYI: I'm 35, 03FJR, House, Married, Kids, as previously mentioned- not a great driving record. I Hate Slow!

Bottom Line: Shop around, the person that referred me to DL/Sentry said they saved him $600/yr? They obviously were looking for slow machines with lots of chrome when i called?

-jwilly

 

[BlackB12]

Give Geico a year to gain claim stats on the 06 and I bet the rates drop massively. In 05 I called and got quoted on a 2005 (when it just came out). Their rate was in the 900's for full coverage. 6 months later, I got quoted for the same coverage at $370 a year! I asked why the difference, and the rep said simply that now since the 05 was considered "not new" in their system, they base their rates on actual claims against this bike, which obviously were not very high. Also for you MSF Rider Coaches, Geico offers a 25% discount.

Mike

 

[GreyGoose]

The responses beg the question:

Why would you need that much UM coverage if you have really good health insurance? If i get hurt in any MVA, my health insurance picks up the bill. I tend to ride alone (or occasionally with a family member who is also covered by my work policy). My out of pocket expense is limited through that policy. why would i need extra?

also,

I can see why i may want to have a good amount of coverage in an accident where i'm at fault and cause injury. But i do feel like my chances of inflicting a large amount of damage to a cage and it occupants is minimal being on a 500 pound motorized bicycle.

Someone want to explain to me what i'm missing here.

P.S. - this was a great thread and extremely timely given all of us anteing up for insurance on the new bikes...thanx again.

GreyGoose

 

[FJR Gary]

My full coverage with $250 deductible from Dairyland is $419 a year

 

[camera56]

I am 50, no kids at home, garage the bike, etc. I have all my insurance wiht Farmers. I pay less than $200 with full coverage. I don't remember the deductible but it's probably $500. I live in Seattle. Ducatti MTS is the same.

 

[Silverbullet]

Same for me with Farmers. My '03 was about $250.00 per year, and it actually went down on my '04. I expect it to be about the same for the '06.

 

[EdC]

You guys have to look into State Farm! I pay $326 per year for full coverage on my Hayabusa with $500 deductible on the comprehensive and collision. A Progressive agent once told me that if you have a clean driving record, State farm will beat Progressive by hundreds of dollars and he was right - before telling me that, he had quoted me $714 per year without collision! I called my SF agent yesterday and inquired what the same coverage on an '06 FJR would be - about $20 more than the Busa.

Contrary to popular belief, you do not have to have your cars and home insured with them to get that kind of premium. I started with SF with just two motorcycle policies and when they actually went down the following year, switched everything else over to them.

Ed

 

[Jeff Tate]

I'm almost 50, keep my '05 garaged, clean record and no kids at home and Over a year ago Proressive quoted me $2800 per year!!! Came back to Farmers after trying other places and I pay $342 with a $500 deductable for full coverage. Funny thing is, I also have an '82 Suzuki GS1100EZ and pay almost 300 on it for liability only. I guess it's because you can do just as much damage with an old bike as a new one.

 

[dfpextraordinaire]

I am 53 and have my bike insured with Safeco. The big deal with motorcyle insurance, as noted in MCN is that most people don't insure their bikes that same as they do their cars. It cost me 709 per year for 300/500,uninsured/underniinsured motorist, 10k in PIP and my 1 milllion dollar umberella fits over the top. The way I figure it is that it only makes sense to make sure that the coverage on the bike is adequate if, God forbid, that something goes wrong. If you have wife, kids a home and care about your family don't be a cheap asshole and buy the cheapest insurance you can find. Talk to your insurance agent and make sure that you are adequately covered. You are exposed to them crazy, crazzy cagers!!!

I took a trip to the Oregon coast today from Eugene and had one of the best trips ever but, there are people out on these highways that simply don't see you and don't give a shit if you are on the road or not.

Ride safe, have fun and make sure your insurance is adequate.

:clapping: :clapping:

 

[jaybird]

The "insurance world" is a mystery -- as witnessed by the replys, insurance premiums are all over the place. I think the answer is, "it depends", on lots of stuff. My rec is to contact 5 or 6 of the companies and simply get a quote (be sure to be comparing "apples to apples" with regard to coverages.

For what its worth, I found GEICO to be the best, and am paying $493 for my 05 with full coverage.

Sometimes I think the insurance companies use the "SWAG" method of quoting premiums (Scientific Wild A_s Guess"......... :lol: Jay