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Discussion Starter · #1 ·
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:eek:. 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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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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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:eek:. 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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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:eek:. 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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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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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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Glad to see the x near the top! :D 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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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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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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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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Its weird because I ran a quote on a street triple and it was cheaper than what I'm paying for my 500. I think its just that we have fairings.
 

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Pretty sure it's the case of the 'R' being classified as a sports bike.. really daft but if the insurance companies can find a way or screwing people - they will...
 

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The fact that it has fairings might have something to do with it as well.
 

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I can't speak for everyone, but even though the 500 isn't a supersport, it is a bit sporty. I'm going to ride a bike that is even a little bit sporty much more aggressively (for lack of a better word; I don't mean riding like a jacka$$) than I'd ride a cruiser. I ride my Nighthawk S more aggressively than I'd right a standard Nighthawk. So, I expect to pay more insurance for this bike, seeing as how I ride it in a manner that brings with it a bit more risk (I had a few, um, exciting moments yesterday :) ).

I'll dig later for some data I trust, but this pops up on a quick search (it's from a moto lawyer site that's paraphrasing an insurance-company friendly safety institute, so I'm not trusting just yet):

"By Type of Motorcycle:
According to the Insurance Institute for Highway Safety (IIHS), riders of “supersports” motorcycles have driver death rates per 10,000 registered vehicles nearly four times higher than for drivers of other types of motorcycles.

Supersports have more horsepower than conventional motorcycles and can reach speeds of up to 190 mph. They are built on racing platforms and are modified for street use.
The bikes are popular with riders under the age of 30.
The bikes are light-weight and aerodynamically styled.
In 2005, these bikes registered 22.5 driver deaths per 10,000 registered vehicles compared with 10.7 deaths for other sport models (related to supersports but do not have the acceleration, stability and handling of supersports).
Standards and cruisers and touring bikes, with upright handlebars, have rates of 5.7 and 6.5 per 10,000 vehicles.

In 2005, supersports accounted for 9% of registrations, and standards and cruisers made up 51% of registrations.

Among fatally injured drivers,

the IIHS says that drivers of supersports were the youngest—with an average age of 27;
touring motorcycle drivers were the oldest, 51 years old;
and fatally injured drivers of other sports models were 34, on average;
standard and cruiser drivers were 44 years old.
Speeding and driver error were bigger factors in supersport and sport fatal crashes.

Speed was cited in 57% of supersport riders’ fatal crashes in 2005 and in 46% for sport model riders.

Speed was a factor in 27% of fatal crashes of riders of cruisers and standards, and for 22% of riders of touring models."


Here's the site from which this is copied:
Motorcycle Accident Statistics
 

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As a "newly licensed" rider and my 2013 CBR500R is under 600cc I am paying about $540/yr right now, with TD Insurance.

The online quote said about $640 but after calling them and being on the phone for about max 30minutes giving details and verifying stuff the final number was $540.

I could probably get it cheaper somewhere else but as I have my Home and Auto withthem as well, it was the less hassle option for me as I wanted to get out there and ride right away. wanted to wear down that fresh tire slippery when wet look LOL
 

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$560 Swann Insurance - Australia. 1st bike. 32yrs old. No crashes on record.
 

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Discussion Starter · #19 ·
As a "newly licensed" rider and my 2013 CBR500R is under 600cc I am paying about $540/yr right now, with TD Insurance.

The online quote said about $640 but after calling them and being on the phone for about max 30minutes giving details and verifying stuff the final number was $540.

I could probably get it cheaper somewhere else but as I have my Home and Auto withthem as well, it was the less hassle option for me as I wanted to get out there and ride right away. wanted to wear down that fresh tire slippery when wet look LOL
I'm hoping this will be the case for me, and figured it's in their computer wrong due to the name.
 

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In Australia they go via engine capacity. I pay $940 a year, but I'm also very young to be on a bike.
yeah i looked at how much it would cost to insure me when i got mine.... it was baddddddd. so instead i just got it insured with my dad's bike through allstate where we have every other policy, so between the MSF and all our bundle discounts, it is $476 a year for my bike (CBR500R) and his 2011 BMW G 650 GS.
 
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