Insurance rates

wildbill · May 3, 2013

Just got my insurance straightened out today. I am a bit shocked with the rate. I am hoping it will go down once the bike get properly setup in their "system". I currently have a 2012 BMW K1600GTL (a $26,000 motorcycle) and my cost is $360 annually. My new 2013 Ducati HS (a $13,000 motorcycle) is going to cost $540 annually. When I questioned the agent on this, she said it has to do with the make and model. Maybe it is the "Hyper" moniker that gives it a bad reputation? It just doesn't seem right that a bike that is worth half as much would cost 50% more to insure. I plan to follow up on this more next week when I have more time to pursue the details.

jerdog53 · May 3, 2013

Need to shop a round State Farm quoted me 190$ a year much better than Geico at 292$ and progressive at 570$...

wildbill · May 3, 2013

Apparently so...It is progressive that I am currently using.

gatdammit · May 3, 2013

Progressive quoted me $814/yr for full coverage. I'm going to have some long talks with competitors. I'm in the Navy and they require MSF beginner and advanced courses for riders, with a refresher every 3 yrs. Also required to wear full approved gear at all times. I think this warrants a discount in itself.

jerdog53 · May 3, 2013

All the gear all the time!

My quotes were also for full coverage!

Lawrence of Suburbia · May 3, 2013

wildbill said:
Just got my insurance straightened out today. I am a bit shocked with the rate. It just doesn't seem right that a bike that is worth half as much would cost 50% more to insure. I plan to follow up on this more next week when I have more time to pursue the details.

Exactly the same here (in Oz). My new 013 BMW R1200R (value $20K) costs $420 or so. Quote for same-value H'strada almost $700!!! Not enough to put me off, but it requires some thought!

L of S

Stradasphere · May 3, 2013

I am waiting for my quote from Liberty Mutual which I should get Monday. I have all my vehicles insured with them so am hoping it won't be to bad. They did tell me that they don't insure some of the Ducati's but mine was not on the list. Maybe its too new

Mibanez3 · May 4, 2013

Full cover for my hyperstrada in miami is about 4k a year

so i installed a rlink alarm and a thick kryptonite chain and hope for the best. Im also getting basic insurance that only
Covers damage to others and medical which is about 300 for the year.

FBoldcrow · May 4, 2013

At 58 I figured mine would be around 300 and fell over with the 700+ quote from Geico, same as the multi, there's a bad thing about the Duc reputation. Tried to explain it's not a motard. But like 2000 for 1199 Pantigale. Wildbill keep us posted when you get hit with the Multi bill too.

psimon55 · May 5, 2013

I am paying $76 per year for liability (50k/100k). I figure... if I wreck the bike badly, my riding days are probably over anyway...

gatdammit · May 5, 2013

psimon55 said:
I am paying $76 per year for liability (50k/100k). I figure... if I wreck the bike badly, my riding days are probably over anyway...

Naw, wrecking a bike is an art-form. I had a dozen off's in my dumber days and with good stop/drop/roll never broke anything or even scratched my helmet. Lost lots of skin on extremities but my standard riding attire back then was shorts/t-shirt/tennis shoes/no gloves. I was a pro at scrubbing road rash and nursing skinless palms.

For a $7K Japanese bike, I probably wouldn't care about getting it fixed. But, $13K is a bit larger pill to swallow and I've already had one wadded up bike rot away in my garage with the "gonna fix it, someday..." tag line.

psimon55 · May 6, 2013

Makes sense... but I was referring more to the wife and kids letting me ride after a bad crash than actually being hurt

usmcstrada · May 7, 2013

Uggh

I have progressive and it is 728 and Geico is 775 for same coverage. My V-Strom is 150 for the same coverage. I expected maybe twice the V-STROM but not this. I asked the Geico rep why more than my 40k Chevy Tahoe??? She said it is a Ducati. I said it is still 13k and they rarely get stolen where I live and I have not seen or read about some large epidemic of ducati wrecks. It is usually japanese or harleys in wrecks that I read about failing to negotiate a curve or right of way accidents. I will keep looking.

Stradasphere · May 7, 2013

You might try Liberty Mutual, they are now insuring motorcycles.

gatdammit · May 7, 2013

usmcstrada said:
I have progressive and it is 728 and Geico is 775 for same coverage. My V-Strom is 150 for the same coverage. I expected maybe twice the V-STROM but not this. I asked the Geico rep why more than my 40k Chevy Tahoe??? She said it is a Ducati. I said it is still 13k and they rarely get stolen where I live and I have not seen or read about some large epidemic of ducati wrecks. It is usually japanese or harleys in wrecks that I read about failing to negotiate a curve or right of way accidents. I will keep looking.

Well, the insurance industry has no standards then. Progressive quoted me $814/yr (full) about 2 weeks ago. Today, GEICO locked me in at $322/yr (full), stating "Ducati owners typically are more responsible and have fewer claims/tickets...we offer them lower rates".

Couple things: The bike does have a legit silent immobilizer via transponder key; I'll find out how much of a discount that nets. And neither company had anything in their databases about the Strada; Geico agent said he "punched it in manually". I don't know what that means but he got me a respectable rate whatever it was.

jerdog53 · May 8, 2013

State Farm told me that they havent fully up dated their system to reflect the new 2013 models especially the ones that didnt exist before.

wildbill · May 8, 2013

Got the insurance set up on the new 2013 MultiStrada GT it is $498 annually, that's $42 less than the Hyper. My agent doesn't understand why the Hyper is so high, but that's what Progressive says it is. I guess i'm going to try to shop around.

SuperTen · May 8, 2013

Yeah, pretty obvious they got that backwards.

LiamWis · May 8, 2013

I would love if i hade to pay 700 $ for a full insurance / year.

I will pay about 900 $ / year and those who pick the hypermotard will pay the double.

Dane1960 · May 8, 2013

State Farm in Texas $215 for full coverage 6 months

Insurance rates

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