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I currently have a Rebel 300....and I'm looking at the CB500F


I pay $218 per year for the Rebel 300 insurance. I asked my agent to run a quote with the 500F...and it came back at $588 per year. That's more than double for a 'next-jump-up' in engine size. Double? This doesn't seem right. I know motorcycle insurance is a stand alone policy. (it's not part of your auto coverage) So I'll be looking elsewhere.



If I can ask, what do people pay for a CB500R/X/F, and with what company?


(The agent also ran a Yamaha MT 07, and it came back $824 per year)
 

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$320/yr full coverage in Houston Texas...but move one county outside of Harris County and it is $150/yr. Thank you Bike Thieves for keeping the rates high in Harris County!
 

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In Ontario, Canada, I am paying about 770 USD (1030 CAD is my current quote with All State, but I might shop around for a better deal this year) for the year with full coverage at 32 years old (full motorcycle license for about 5 years now).

Does that $300 cover $500,000 in liability if you're at fault in an accident, or is it only like $25,000?

In Canada (or at least Ontario), I think it's law to have something like a million dollars liability insurance. The benefit is that in an accident there's no need for personal lawsuits to settle things (which probably costs more in the end, I would imagine). Everybody with insurance should have enough coverage to cover the damages. And I think those of us with full coverage are also protected if the other guy is at fault and isn't insured.

I saw a motovlog months ago of a Canadian rider that was in the US, and a woman hit his bike and wrote it off. It was her fault, but she only had like $25,000 coverage, and it wasn't enough to cover his bike and medical bills which totaled something like $60,000 or something (off the top of my head). He ended up having to personally sue her for the rest of the money. That sounds like a terrible system.

I'm just curious if that's why you guys are paying so much less for insurance down there.
 

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"I saw a motovlog months ago of a Canadian rider that was in the US, and a woman hit his bike and wrote it off. It was her fault, but she only had like $25,000 coverage, and it wasn't enough to cover his bike and medical bills which totaled something like $60,000 or something (off the top of my head). He ended up having to personally sue her for the rest of the money. That sounds like a terrible system."

It is different here in US from state to state as to the minimum requirements. I would have to check mine, but I am sure it covers liability more than $25,000 - I think it is 100,000.00 & I also bought fire & theft -but not full coverage to cover my motorcycle in case of it being my fault.

To me, that is better than the Canadian system which has a socialist flavor to it.
 

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Mine @ $270 per year is full coverage 100/300/100 with roadside assistance. We get great rates because we have not had any accidents that were our fault and have had no tickets for close to 20 years, knock on wood. We also get a multi-vehicle discount as well.
 

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To me, that is better than the Canadian system which has a socialist flavor to it.
Insurance is meant to have a socialist flavor to it. Otherwise, it's just called saving your own money to pay for your mistakes. But some mistakes cost too much money for you to save for (i.e., it might take you 30 years working full time to pay for just one mistake, which makes you wonder how you'd pay for all of the other things in life). And we're all human so sometimes even the best of us aren't able to avoid irreparable harm.

Socialism just makes sense here. Everybody contributes a fair share, and the few that need it are covered. Socialism isn't such a bad thing. It makes a lot of sense. It's mostly hated in America for no good reason other than propaganda and ignorance. :spin

Besides, capitalism is what we're all taught to belief we live in, right up until GM goes bankrupt and the taxpayers bail them out. That's worse than socialism. You made a bunch of rich guys richer, while keeping a down and out company that should sink afloat. It may have saved a few jobs temporarily, but those jobs will never be what they once were.

I've only been driving for about 16 years so far, but zero accidents thus far and only 3 speeding tickets (when I was younger). I have a great driving record. Which is not to say that I've never made a mistake. I have made a handful of mistakes, and been lucky that it always worked out. There's no record of it outside of my soft tissue.
 

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Original quote from bambams
Socialism just makes sense here. Everybody contributes a fair share, and the few that need it are covered. Socialism isn't such a bad thing. It makes a lot of sense. It's mostly hated in America for no good reason other than propaganda and ignorance.

Besides, capitalism is what we're all taught to belief we live in, right up until GM goes bankrupt and the taxpayers bail them out. That's worse than socialism. You made a bunch of rich guys richer, while keeping a down and out company that should sink afloat. It may have saved a few jobs temporarily, but those jobs will never be what they once were.

I know this is not a political forum, but good on you. Most Americans do not understand what socialism is. Pity.
 

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Progressive insurance here, live in central Florida which has a high theft and accident rate.

My 155cc Yamaha Smax was $130 in 2018 for 25/50k bodily injury liability, 10k property damage and $100 comprehensive deductible, plus an included $3000 coverage for accessories. It dropped to $101 for 2019.

Adding my 2018 CB500F with the same coverage as well as adding roadside assistance to both bikes increased the total cost of the policy to $196. So, basically, the 471cc motorcycle costs the same to insure as the 155cc scooter.

Your insurance company seems quite high, unless you have very high coverage...I'd suggest getting quotes elsewhere, specifically Progressive.
 

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"Socialism just makes sense here. Everybody contributes a fair share, and the few that need it are covered. Socialism isn't such a bad thing. It makes a lot of sense. It's mostly hated in America for no good reason other than propaganda and ignorance."

I can assure you I am not ignorant.

Insurance is NOT a form of socialism nor should it be. The transaction is entered into voluntarily - socialism uses force! Requires n overbearing Bureaucratic government that uses force to accomplish.

As for the illustration of GM - which does not apply to the present discussion, GM should never have been subsidized. In fact it was because of GM's (particularly the socialist unions) that got them in trouble. Then the Bureaucratic government officials wanting votes stepped in.

Read anything by exert economist Dr. Walter Williams, Dr. Thomas Sowell, Milton Friedman and others why Socialism will never work, never has, never will. To quote Margaret Thatcher: "Socialism works until they run out of other people's money."
 

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I'm 65 and live in Ontario, Canada. My CBR500R is insured for $540 annually. There is no collision coverage but it has $1M liability, accident benefits (medical) and comprehensive (theft and damage caused by others). Insurance is basically a scam that makes billions for the companies but with all the fraud caused by folks who try to cheat the system we all have to pay through the nose for it. This is the lowest that I've ever paid but it took me until I turned 65 to have that happen.
 

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Are you sure they weren't quoting you price to insure both your new bike AND your Rebel? that would seem closer to making sense if you were talking 2 bikes maybe. Mines $253.47 when paid in full in NC. Some insurance companies offer payment plans which can jump it up a little bit but not that much.
 
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