Re: [St] Insurance

[Dan Wetherington <dnlwthrn@xxxxxxxxx>]

rlnm2000@xxxxxxxxx wrote:
> A guy I work with is thinking of getting a 2006 Yamaha R6.  He talked to someone with Progressive (supposedly) and was quoted $7000/yr.  I'm not sure of the coverage he was asking for, but he tryed scaling it down a bit but it was still $4000/yr.
>
> IMO THAT'S INSANE.  I thought Progressive was decent motorcycle insurer.  I used them for my 2000 Sprint RS and my insurance was only $360/yr.
>
> Does anyone know if insurance for R6 type sport bikes is really that insanely high or was he being taken?
>
> Rich
>   
Rich,
LOTS of factors go into insurance for bikes.  One of the biggest, at 
least with Progressive, is the style of bike and the model's history of 
claims.  I'm guessing that the R6 is a very popular bike for getting 
wrecked, and that your coworker is younger than 35 or so.  This means 
astronomical insurance rates.  When I got my Sprint, I got several 
quotes in the $3,000-5,000 range (keep in mind I was 24).  Progressive 
was one of the lowest, but I still ended up paying over $1,000 for the 
first year.  It has since dropped, but my premiums are still over $700 
per year for full coverage.

The insane part is that, if instead of paying insurance you put the 
premium $$ into a savings account, you could buy the bike new in less 
than a year!  I know it doesn't cover medical costs or legal costs, but 
that's why insurance companies suck...
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