# Motorcycle insurance, YIKES!



## mtbscott (Jul 16, 2003)

After over a decade without one, I got the urge for a new streetbike when the Aprilia RSV4 was announced over a year ago. They just started arriving at local dealerships this month and it's one beautiful Italian work of art. 190hp, 390lbs, exotic engine growl, and highly adjustable chassis. MSRP is $15999 for the base model and $20999 for the full zoot. I was ready to buy....until I started calling around for insurance. Got nine offers from a low of $2550 to a high of $3600 for a year's full coverage! This for a 53 year old guy with clean driving record and 38 years of motorcycle experience. All agents said the main factor was that the insurance industry "risk number" on this bike was the very highest number on the scale. It's a deal killer for me, no way I can rationalize 16% a year of the motorcycle's cost just to insure it as essentially a weekend toy. The salesman at the local dealer didn't seem that shocked, he seemed more surprised that I wasn't willing to pay that much. I'm amazed that people are willing to spend this, and I guess I'm spoiled from my relatively low car rates. The most I've ever paid for insurance was around $1500 a year for a Cayman S and a MINI at the same time.


----------



## ///M3lissa (Jun 23, 2005)

I don't know if there is a local motorcycle forum in your area, but if so, you may want to check that. Usually there are some friendly folks who can recommend a good agent who knows the ins and outs of moto policies and can get you a good rate. A few years ago I had a hard time finding an acceptable rate, but a friend on a moto forum put my in touch with his agent and I got a great deal (in the range of $200 vs $2000).

Would it be an option for you to get liability only and take some of the risk on yourself :dunno:


----------



## mtbscott (Jul 16, 2003)

///M3lissa said:


> I don't know if there is a local motorcycle forum in your area, but if so, you may want to check that. Usually there are some friendly folks who can recommend a good agent who knows the ins and outs of moto policies and can get you a good rate. A few years ago I had a hard time finding an acceptable rate, but a friend on a moto forum put my in touch with his agent and I got a great deal (in the range of $200 vs $2000).
> 
> Would it be an option for you to get liability only and take some of the risk on yourself :dunno:


I tried my own agent, and 3 others recommended by the dealership (who wants to sell me this bike) and all of their quotes are in a narrow range with the only real variable being the amount of deductible. The last one I spoke to ran the request through five different carriers, so I really don't see a huge reduction coming. I would not want to ride a $20K motorcycle around with only liability. Just as an exercise, I had the agent run through a request for a smaller bike, a Triumph 675 Daytona, and it was around $800, so clearly the industry sees the Aprilia as a Death Missile.


----------



## Melissa (Aug 9, 2002)

Ouch! 

My husband has a BMW R1100RS and a Ducati 900SS/SP. His insurance for the Duc is $135 annually and year and $155 for the Beemer. We use State Farm for all of our insurance... eight different policies, I believe we have. He's been with them since he turned 16 and started on his folks' policy.

Did you buy the Priller? Those are gorgeous bikes, indeed. I had an RS50 for fun when they came out and my husband still wants a 250 for the track.


----------



## Double-S (Nov 30, 2006)

mtbscott said:


> After over a decade without one, I got the urge for a new streetbike when the Aprilia RSV4 was announced over a year ago. They just started arriving at local dealerships this month and it's one beautiful Italian work of art. 190hp, 390lbs, exotic engine growl, and highly adjustable chassis. MSRP is $15999 for the base model and $20999 for the full zoot. I was ready to buy....until I started calling around for insurance. Got nine offers from a low of $2550 to a high of $3600 for a year's full coverage! This for a 53 year old guy with clean driving record and 38 years of motorcycle experience. All agents said the main factor was that the insurance industry "risk number" on this bike was the very highest number on the scale. It's a deal killer for me, no way I can rationalize 16% a year of the motorcycle's cost just to insure it as essentially a weekend toy. The salesman at the local dealer didn't seem that shocked, he seemed more surprised that I wasn't willing to pay that much. I'm amazed that people are willing to spend this, and I guess I'm spoiled from my relatively low car rates. The most I've ever paid for insurance was around $1500 a year for a Cayman S and a MINI at the same time.


That's too bad, it's an awesome machine.


----------



## 335i Driver (Nov 29, 2006)

Have you tried State Farm? They do not catagorize motorcycles like other co's and only rate based on cc's. I pay almost nothing for full coverage because SF does not rate me on the sportbike rating system. To them, it's just a motorcycle like any motorcycle.


----------



## SportBikeGirl (Jun 29, 2007)

335i Driver said:


> Have you tried State Farm? They do not catagorize motorcycles like other co's and only rate based on cc's. I pay almost nothing for full coverage because SF does not rate me on the sportbike rating system. To them, it's just a motorcycle like any motorcycle.


That's why I ended up going with State Farm. I shopped around and no other company even came close to the rate they gave me. A lot of insurance companies won't even touch sportbikes.


----------



## detorn (Oct 15, 2009)

I bought a cheap bike so keeping the rate down was something I dug into a lot. esurance came up the best out of the close to 20 I tried. My situation is very different than yours, but the $126 a year I'm paying them is around 1/3 of what everyone else quoted me. And this is with only having my drivers license for a month and not even having the M endorsement yet. try it, you can get a quote online without even having to deal with a person.


----------



## KruelHouse (Dec 26, 2007)

Good Luck! I have an '02 RC51 and am paying close to a grand for full cvrg, and my record is clean. Hopefully that will come down soon as I'm approaching my 30th!

I really hope that it works out for you. I was just down at my local dealership drooling over a black RSV4R! Looks sick, and everything that I've read indicates that it's a well-sorted machine.


----------



## QuoteWarz Insurance (Dec 17, 2009)

Insurance on high performance bikes can definitely get every expensive. Just for future reference make sure you are working with an independent broker as we are able to usually find the best prices because we have access to the most companies. Anyway good luck with your search and let me know if I can help you with anything at all.


----------



## jhu321 (Sep 24, 2009)

perhaps its a bit late for OP but call around to state farm or farmers insurance... everyone else wanst 2k+ for my 1098... statefarm i'm only paying 750


----------



## Sandmansc (Mar 14, 2010)

I have a guy who does most of our insurance. I think I pay $124 a year for one bike and $450 a year for the 1000cc I4. a Vtwin should be less than that especially for a 53 year old.

Shoot him an email, tell him Shannon Carpenter sent you his way.

[email protected]


----------



## mnepitjr (Sep 12, 2008)

I know what you mean on the insurance. I have had 3 R1200C bikes and the insurance wasn't bad at all on them. I had went through Progressive and the rates were always around 200.00. It had been about 2 years since I sold the last one and got an 02 Harley Springer last fall. Same company quoted me 1200.00 for it. I finally went through Cotton States who I have all my car insurance through and it was 300.00. It's more than before but I have added uninsured motorist and more medical coverage.


----------



## mtbscott (Jul 16, 2003)

Revisiting the thread I started....I gave up on the motorcycle and ended up buying a used 2007 MZ4 Coupe as a fun car (not that the MINI JCW isn't.) Full coverage with low deductibles on both cars for $1104 a year. I don't see a bike in my future unless I move, I think my county of residence is also a negative factor.


----------



## Ryan... (Dec 16, 2008)

that's too bad, Mcoupes are very sweet cars, but nothing compares to the thrill of sportbikes, as I'm sure you're already aware of 

Did you ever consider the new BMW S1000rr?


----------

