Let's talk insurance... - Honda Rebel 300 & 500 Forum
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post #1 of 38 (permalink) Old 08-29-2017, 08:24 PM Thread Starter
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Let's talk insurance...

What are you guys doing for insurance?

I just received a rather high quote from Progressive of $650/year. I'm a 32 year old male with a spotless record. Took the minimum liability and collision coverages w/ $500 deductibles. Still seems really high, considering my '05 Rebel 250 is only $100/year for the same coverage.

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post #2 of 38 (permalink) Old 08-29-2017, 09:03 PM
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Yeah, that's high. I'm 41, perfect driving record since the early 90s, took the MSF course, and the Rebel 500 is my first bike.

I have Geico, minimum liability, plus comprehensive coverage with a $500 deductible.

My annual premium is $108.

I did pay cash for the bike, though, but I did several quotes before I bought the bike, and I think it was around $200 if I was financing.

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post #3 of 38 (permalink) Old 08-29-2017, 09:30 PM Thread Starter
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Originally Posted by CueBaller View Post
Yeah, that's high. I'm 41, perfect driving record since the early 90s, took the MSF course, and the Rebel 500 is my first bike.

I have Geico, minimum liability, plus comprehensive coverage with a $500 deductible.

My annual premium is $108.

I did pay cash for the bike, though, but I did several quotes before I bought the bike, and I think it was around $200 if I was financing.

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That's crazy. I also paid cash for the bike, no financing. I'll have to shop around I guess.

It might be partly because I live in CA, sunshine tax on everything out here.
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post #4 of 38 (permalink) Old 08-29-2017, 09:35 PM
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Illinois isn't shy on their taxes, either lol.

For what it's worth, the MSF course gets a $12 discount, and a $6 discount for dual policies (bike and our 2 other vehicles).

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post #5 of 38 (permalink) Old 08-29-2017, 09:43 PM
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I'm in California and pay about the same as well, but I financed my bike and my deductible is $200 bucks. I'm 26 now, still in college, and this is considered a big purchase for me. My insurance was through Geico since I already have two cars with them.

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post #6 of 38 (permalink) Old 08-29-2017, 10:21 PM
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$350 comprehensive and collision in NYC, w/ $250 deductible through Progressive. Bike theft and non-moving collisions are a problem here, as you pretty much have to park your bike in the open, on city streets. Garaging is prohibitively expensive and most fenced parking areas don't accept motorcycles...New York is so backwards sometimes. Anyway, because of that, our insurance is a bit more expensive. I got all the discounts I could get (MSF, Safe Driver, Bundle etc...).
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post #7 of 38 (permalink) Old 08-30-2017, 12:22 AM
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Geeze, sometimes I wish Israel was a bit more advanced than the little backwater, cartel-infested country that it is - We have unreasonably high insurance rates for 2 wheeled vehicles, since the insurance companies basically operate as a cartel and the bike and scooter market share is pretty small.

I paid 2240USD (8000NIS) for an annual insurance which includes everything - theft, accidents, 3rd-party (as in injuries/damages to 3rd parties due to accidents that are my fault), injuries and whatnot. We have a mandatory insurance scheme here, for which I paid almost half of the above, and another half for an extended policy (theft, 3rd-party, damages to vehicle and injuries to rider).

Oh, and since bikes are considered "high risk", the mandatory scheme is provided by an organization called "The Pool", which is the organization that insures those that regular insurance companies won't insure - Naturally, there's no wiggle room in prices - All insurance brokers sell you the "Pool" rate for mandatory insurance, since insurance companies won't insure you themselves.

On top of that I added an anti-theft system which cost me 390USD (plus a 15USD monthly payment), which basically means if my bike is stolen (we have a lot of bike thefts here), they must retrieve it within 30d or pay 90% of bike value - that, at least, was money well spent.

No wonder I have no money left for after-market accessories
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post #8 of 38 (permalink) Old 08-30-2017, 07:54 AM
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$650/yr is definitely high. I have everything like Ryan above, also in NY (though not the city), and with progressive as well. Mine is like $375 but I didn't do MSF. The total for both my bikes is around $650.
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post #9 of 38 (permalink) Old 08-30-2017, 08:21 AM
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I have Allstate. Full coverage with a $500 dollar deductible, I pay 39.00 a month. I also have my Home & Auto with them too. I'm 43 with an "almost" spotless record. Geico and Progressive both quoted me a few bucks less for motorcycle insurance, but I've been dealing with the same guy at Allstate for about 20 years so I decided to keep everything with one company.

-CG
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post #10 of 38 (permalink) Old 08-30-2017, 08:53 AM
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Quote:
Originally Posted by CGrazFL View Post
I have Allstate. Full coverage with a $500 dollar deductible, I pay 39.00 a month. I also have my Home & Auto with them too. I'm 43 with an "almost" spotless record. Geico and Progressive both quoted me a few bucks less for motorcycle insurance, but I've been dealing with the same guy at Allstate for about 20 years so I decided to keep everything with one company.

-CG
I've had Allstate for my car since I started driving and I wish I could've kept them but I was quote way higher than progressive for the bikes unfortunately :/
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