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Well I screwed up and got insurance for my '76 CB550F back in July with a front-loaded policy from Allstate.... Well now my bike is in pieces and I paid for the year and basically want to know if you guys are paying around ~240 a year for your bikes? I am a 22 year old so can see why my premiums might be higher but only have one or two speeding tickets on my records so IDK this number seems so high..
What kinds of insurance do you guys get? Geico called me with ~140 a year but they havent had much info from me or had the chance to look at my record so I'm figuring this number is a ploy to get me to switch over? And I can't cancel my insurance now since I signed with Allstate for the front-loaded plan and wouldnt get much back.. And would need to give my tags back to the VA DMV which would only cost more money.
Regardless this coming July I will re-evaluate my options before re-uping with Allstate, but want to know if there are monthly plans you guys do to make it insured only for riding seasons or not? Pretty sure that isn't even possible but wanted to know.
Basically I know nothing about bike insurance and want some guidance.. The DMV scared me into getting insurance when I got the tags, but I should have known I would start tearing apart my bike and shouldnt have gotten tags when I went in for the title renaming..
LOL try 450-500 per year for liabilty only here. and it is even worse in other parts of Canuckistan, 240 a year is cheap! but some states I hear you can get full coverage fro 60-75 a year so it is all relative to your local. At least I can pay mine monthly for 8 months over the riding season, covered for the full year, so I start paying in March and last Payment is Oct no payments while bit sits in storage.
LOL try 450-500 per year for liabilty only here. and it is even worse in other parts of Canuckistan, 240 a year is cheap! but some states I hear you can get full coverage fro 60-75 a year so it is all relative to your local. At least I can pay mine monthly for 8 months over the riding season, covered for the full year, so I start paying in March and last Payment is Oct no payments while bit sits in storage.
Oh ouch!.. Yeah I can understand the locale having something to do with it too.. It all just seems like a waste. I should just go in some rural area and get insurance there? or hell should have gotten my bike registered in blacksburg where I go to school and not Northern "take-all-your-money" Virginia...
If you dont mind me asking, which company lets you get insurance during riding seasons only? Allstate didn't offer me anything like that.
It probably won't make much sense to look at anything other than in your state, but since my bike qualifies for antique vehicle status in Michigan I'm using Hagerty for insurance. $168/year for $5000 guaranteed value. Their minimum agreed value for motorcycles is $3500, but for the same price I could get $5000, so it's a no-brainer. Keep in mind this is in a different state, on a historic-registered vehicle that will see 1k miles on it each season probably.
I'm not a salesman by any stretch, but I have Hagerty on my MG as well, and we've done several collision and fire-related restoration or repairs on different classic cars with Hagerty as a carrier and they're fantastic to work with.
Will Allstate let you drop the bike down to storage and pro-rate the policy? Around here you have to show proof of insurance (and not just storage insurance) to get your vehicle registered, but lots of people will drop it down to storage right away after they get their tags in cases like yours where it's going to sit or be torn apart.
The company I am with is TD Meloche Monex and they cover you for a full year but you can pay over the riding season. SO I can still load the bike in Feb and head south to ride and be covered.
At least I can pay mine monthly for 8 months over the riding season, covered for the full year, so I start paying in March and last Payment is Oct no payments while bit sits in storage.
It's similar here in Winnipeg, but we pay April to September and are covered all year. That said, my monthly bill is north of $225/month. That covers my bike for $5000 plus personal injury and third party liability. It's a rip-off, but there's only one insurer here (provincial government) and no outside, private insurers are allowed. It's clearly a monopoly but it's impossible to fight it. So, ya gotta pay to play.
Just realized I never provided a new address for renewal after I moved....a little over two years ago. WHOOPS.
But when I did have my bikes covered, it was around 100 bucks a year each, 25 years old at the time with a handful of speeding tickets etc. which have all been expunged under deferred adjudication (fancy speak for "I paid my way out of it"). I believe it was through Progressive.
If your bike is in pieces I wouldn't even worry about insurance unless you're afraid someone is going to steal your project. Just make sure you get coverage before it's back on the road and you'll be good.
Homeowners insurance here in Indiana covers parts or even an entire bike(s) in pieces... How do I know this? Look at my cl450 build. My brother just had a garage/house fire and lost everything (which is where my cl450 body parts were during the fire). Homeowners insurance wouldn't cover his complete assembled bike but covered all "parts" and tools. His auto policy is what has to cover complete assembled vehicles... Check with your homeowners insurance, parts may already be covered.
In Indiana for my older bikes I pay $75 per YEAR for FULL coverage and for every bike I insure after the first I get a discounted rate to $50 per YEAR... also for a "safe rider" discount I get 10% off for not being in an accident for xx years.... Now my 2006 cbr600 is a different story, that runs me $175 per year for full coverage.
Total for 5 bikes = about $380.00 per year for full coverage on all of them.
"I've got a 77 CB550. I pay over $1,400 per year up here in Canada. Consider yourself lucky."
Dualitymike, I only pay a little over $900 for a 2000 Harley Sport S, and only $375 for my 1980 GS850 Street Brat, and $225 for the 72 CL450. In Ontario anything over 30 years qualifies for vintage insurance with unlimited miles not like the historic designation. I only need an appraisal which runs less than $100 every three years.
I'm in Manitoba. We don't have that program here. We just have vintage plates and you have to be part of a club and that club has to submit a list of their meets to Manitoba Public Insurance at the start of the riding season. The vintage plate only allows you to ride to and from the meets. It's total shit.
I'm with TD insurance as well, just got my renewal at $480 for next year on a virago 535, which is quiet shockingly down $60 from the year before.
What really grinds my gears is that to add my project CB750 is another ~$600 per year. How they expect me to ride both bikes at the same time is beyond me...
TheCoffeeGuy, who is your insurance through? I'm very interested in the vintage insurance...
I'm with TD insurance as well, just got my renewal at $480 for next year on a virago 535, which is quiet shockingly down $60 from the year before.
What really grinds my gears is that to add my project CB750 is another ~$600 per year. How they expect me to ride both bikes at the same time is beyond me...
TheCoffeeGuy, who is your insurance through? I'm very interested in the vintage insurance...
Damn! That's the cheapest you guys can find it?.. Some of you guys probably pay more in insurance for one year than you did for the whole bike!.. That sucks.
Damn! That's the cheapest you guys can find it?.. Some of you guys probably pay more in insurance for one year than you did for the whole bike!.. That sucks.
I don't honestly see how you people in Canadia manage.
I would absolutely not be riding if my bike cost more to insure than my truck.
I also pay 75/yr with progressive.
What is your car insurance like up there? I pay 1100/yr on my truck but thats because I'm young and have had a couple "incidents"
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