CBR500R Cost more to insure - Honda CBR500R Forum : CB500F and CB500X Forums
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post #1 of 63 (permalink) Old 05-18-2013, 11:35 PM Thread Starter
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CBR500R Cost more to insure

I a not sure why Honda chose the name CBR500R for the fully faired version but insurance companies are making us pay for it. I knew it seemed strange that the X and F cost the same as a ninja 300 for me and the R was 300 more a year. Had they called it a CB500R I think it would cost the same as the F and the X. *sigh* I really want a 500r but it looks like I will be going with a F or X until I get a few years under my belt and maybe it will cost less.

Top 10 Cheapest Motorcycles To Insure - Motorcycle.com
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post #2 of 63 (permalink) Old 05-19-2013, 05:25 AM
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Strange, here in Belgium the insurance cost is only related to the amount of kW of the bike. No matter which/type bike you own.

I pay for about 250eur/year for my CBR500R (= $320 USD)
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post #3 of 63 (permalink) Old 05-19-2013, 06:17 AM
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Originally Posted by MoFetti View Post
I a not sure why Honda chose the name CBR500R for the fully faired version but insurance companies are making us pay for it. I knew it seemed strange that the X and F cost the same as a ninja 300 for me and the R was 300 more a year. Had they called it a CB500R I think it would cost the same as the F and the X. *sigh* I really want a 500r but it looks like I will be going with a F or X until I get a few years under my belt and maybe it will cost less.

Top 10 Cheapest Motorcycles To Insure - Motorcycle.com
I think it's the R at the end that's responsible for the higher rate.
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post #4 of 63 (permalink) Old 05-19-2013, 08:16 AM
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Originally Posted by MoFetti View Post
I a not sure why Honda chose the name CBR500R for the fully faired version but insurance companies are making us pay for it. I knew it seemed strange that the X and F cost the same as a ninja 300 for me and the R was 300 more a year. Had they called it a CB500R I think it would cost the same as the F and the X. *sigh* I really want a 500r but it looks like I will be going with a F or X until I get a few years under my belt and maybe it will cost less.

Top 10 Cheapest Motorcycles To Insure - Motorcycle.com
You should not let $300 difference discourage you from purchasing a CBR500R. Find or reduce expense by about $25 a month($300 total in a year). In MA my driving record is at 99 point (one step from perfect driving record and two step below 0 which is neutral points) and I still have to pay quite a bit($482/yr @ 500col/500com). The cost was not due to the R but rather the engine displacement and year. If I bought a CBR600RR 2009, my insurance rate would have been the same. I am surprised CA has such a large price discrepancy between the R, F, and X. Possibly the bike is so new it may not be judged correctly in their system. I would keep shopping around for better rates.

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post #5 of 63 (permalink) Old 05-19-2013, 08:54 AM
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Strange, here in Belgium the insurance cost is only related to the amount of kW of the bike. No matter which/type bike you own.

I pay for about 250eur/year for my CBR500R (= $320 USD)
In Australia they go via engine capacity. I pay $940 a year, but I'm also very young to be on a bike.
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post #6 of 63 (permalink) Old 05-19-2013, 09:43 AM
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express your concerns... tell them the hp is close to the 250 and the cc is only 471 which doesnt make it a super sport. i paid like 192 for 12 months through progressive
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post #7 of 63 (permalink) Old 05-19-2013, 09:51 AM
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Glad to see the x near the top! I'm still waiting for mine!

Did anyone find an actual top ten list? When they started breaking them out by category, I knew the title was lame and miss leading. There is no way a 10R or 675 would ever be in the top 10 cheapest to insure.

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post #8 of 63 (permalink) Old 05-19-2013, 11:16 AM
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I'd say try a different insurance company, they may not have them categorized correctly yet due to it being a new model. There was no difference in price between the F and R at mine (Rider Insurance).

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post #9 of 63 (permalink) Old 05-19-2013, 12:28 PM
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Originally Posted by Mikethebear View Post
In Australia they go via engine capacity. I pay $940 a year, but I'm also very young to be on a bike.
Wow, thats a lot to pay for an insurance.

As said here in Belgium it is according the engine capacity (kW) too. But when you are 21 or less it can cost a lot more here too. In fact, some insurance companies even refuses young people because the risk is too high.
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post #10 of 63 (permalink) Old 05-19-2013, 02:22 PM
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I use Geico and just paid $420.00 for full coverage for the year. I've had GMAC before and they were pretty good too. Time to make some calls.
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