Honda CBR 500 Riders Forum banner

Supersport insurance

16K views 65 replies 24 participants last post by  ExTex  
#1 · (Edited)
Hey everyone, I posted the below on the 600rr forum as well, but it really applies to all supersports, and I'm dying to know what's going on. If you've got a minute or two, see if you can help me out:

Has something happened with insurance rates recently? I cannot get a quote on a 600 below 4k a year, regardless of who's information I type in. It's not just me (although my driving record is currently spotless), no matter what generic parameters I give for these online quotes, the price comes back well over 4k, when I'm expecting it to be around 500-1000.

I've tried Progressive, Allstate, Geico, different locations across the country, different age groups, different years of riding experience... Nothing produces a quote short of insanity. The reason I've tried all of these combinations is because in the past I have changed the parameters just to determine if my age was holding me back (obviously it always was). I am young, so I am expecting to be hit for that, but now it doesn't seem to make a difference. Always 2,3,4k +.

Somebody, please, get a quote for something reasonable, and then tell me how you did it so I can recreate it.

Edit: (I'm referring to collision and comprehensive coverage btw... with max $500 deductible on each.)

Thanks
 
#4 ·
Unfortunately, I believe the human agents use the same formulas the online tool does.

But I'm hoping you're right. Maybe the online program is just busted, and Joe from All-State is going to cut me a great deal because he likes me. Then again, my past experience has told me that they are just prone to telling me what I already know; like that I'm young and that bikes are bad. I get it, I just want to know why last year I could quote a supersport at ~700 a year and this year its >$4000. I'm not confused by the fact that SS bikes are expensive, I'm confused why the same procedures I used in the past are yielding different results. But I suppose the human agents may be able to at least pretend to come up with a good answer. I rarely have positive customer service experiences though, usually they just repeat unhelpful things, or don't have any power to help.

The thing is, I can enter best case scenario for a male rider, pick any age, location, riding experience, whatever would be the optimal for insurance, and it still won't break ~$1500. So either everyone is paying that much, or I'm missing something.

Supersport insurance is expensive. They get wrecked a *lot*. What makes it cheaper is:
a) Being a low-mileage, second bike
b) Owning it for a while
c) Older bikes

I pay $1k/yr for the CB500F and my 2003 CBR954RR (driven 2k miles/yr). When I quoted a new FZ-09, my quote was in the 3-4K range as well. Nature of the beast.
Good to know that your quote was insanely high too... but people are buying these bikes, and I doubt they're paying that much for insurance. How are they doing it?
 
#3 ·
Supersport insurance is expensive. They get wrecked a *lot*. What makes it cheaper is:
a) Being a low-mileage, second bike
b) Owning it for a while
c) Older bikes

I pay $1k/yr for the CB500F and my 2003 CBR954RR (driven 2k miles/yr). When I quoted a new FZ-09, my quote was in the 3-4K range as well. Nature of the beast.
 
#5 ·
Insurance is such a weird thing I think half the time it's just a randomly generated number. I had progressive with my 500r it was 480 a year. So naturally I call them and ask to quote me on the same rates for my 650f I was gonna buy the woman said it would be $2k a year I simply had to ask why, she said it's a super sport. I facepalmed

So I called around, Geico was 1600. So on and so forth I got around to state farm ended up with full coverage of just under 800 a year on my cbr650f. Full coverage 30 years old, no tickets I still think it's grossly high.

Needless to say the rates for me on RR bikes is completely out of reach, back when I was getting my 500r, I looked at bikes like the 600rr, fz09, zx6r. All of them came back over 2k a year upwards of 4k a year full coverage
 
#6 · (Edited)
@Rocky244

Lucky for you I was just reviewing this over the weekend. I just got a quote over the weekend from various places for a Kawasaki ZX-6R (636). I'm turning 30 in a few months and I thought what better way to celebrate by buying a Ninja since they're celebrating their 30th anniversary. Onwards to the quote. The condensed version is that if I had balls, they had me by them and I was crying uncle.

Here's a photo of my current coverage from Progressive in full detail. I'm female (in case my avatar didn't give it away :grin:), 29, am located in the San Francisco Bay Area of California. I've been driving for almost 14 years with a C class license and have had my M1 since June 2013. I've never had an at fault accident and have no tickets on record in at least 9 years. The quote was retrieved as being married.

$2,400 was the lowest! For the same coverage! it came down to $2K if I go super basic (like $10K/$50K coverage) while still maintaining full coverage but I wouldn't go that low given that what folks are driving around here and how loaded they are. I'm the poorest one in the neighborhood; I'm considered "low income" because I make less than $90K a year. :serious:

I checked with all of the usual suspects. I usually get a lot of discounts through State Farm given history and products we have with them but they couldn't beat Progressive on my 500R on year 2. I had State Farm for year 1 on my 500R for $606 a year. It jumped to $900-something for year 2 and this was for coverage lower than what is attached in the photo. I went to Progressive and they quoted me $750 then after my one year anniversary they dropped it $100 bucks automatically.

I haven't checked with State Farm on the Kawasaki yet but I'll call tomorrow and report back with my findings.
 

Attachments

#8 ·
@Rocky244

I had State Farm for year 1 on my 500R for $606 a year. It jumped to $900-something for year 2 and this was for coverage lower than what is attached in the photo.
Huh? Why did it go up? I have State Farm and will be coming up on my second year soon...
 
#7 · (Edited)
I'm in a much similar boat. Of course I love my 500 but in the future, I've always considered if I would want to upgrade, unfortunately however, Canadian insurance (near Toronto) virtually makes it unfeasible before age 25 (still impractical at 25).

A 23 year old male, insurance on my 500 is $120/month with a full graduate driver's license and M2 motorcycle license. Before 25, a 600R will skyrocket to ~$375/month. 1000R? We're talking in the $600/month range.

This is reduced once you hit 25, but obviously doesn't impact it too much as it's progressive after-the-fact. The main issue is that they expect anyone to have at least 5 years full graduate driver's license experience + full M license before rates are realistic.

It's a shame, and I don't know how most people up here are happy/settle with it. Perhaps they just tolerate it *shrug*

All the best
 
#11 · (Edited)
I guess I am lucky, I have had Rider Insurance for 25 years now. I'm paying $279 a year for TWO bikes at 43 yrs old.. Full coverage on my CBR and liability on the Interceptor. I had no idea it was that high for a 600 these days! Now I am interested to see what they would want for me on a 600RR for the heck of it.

Update: Got my quote already for full coverage on a 2015 600RR $678.00 for the year. Not horrible, but ALOT more than the $179 my 500 costs a year.
 

Attachments

  • Like
Reactions: Joram144
#17 ·
Update: Got my quote already for full coverage on a 2015 600RR $678.00 for the year. Not horrible, but ALOT more than the $179 my 500 costs a year.
No words... You guys have no idea how good you have it :p
 
  • Like
Reactions: Dave Edwards
#13 ·
CBR 500R full coverage is only $40 a month with 300/100, medical, $500 deductible, roadside, and accessories. For the same coverage on a 2015 Daytona 675R its $60/mo. The big 4 Japanese 600's run about $100/mo.
This is for me being 24 with about 2 years experience, 2 MSF courses, and through dairyland insurance, they won't insure any one on a supersport without 2 years experience. The only bike truly expensive for me to insure is the Ducati Panigale 899, I'm talking up to $12,000 a year.

I noticed through the big insurance companies the 500R did make a $60/mo price jump, all the new riders flocking to them and dropping them.

OP, if you want cheaper insurance locate a motorcycle specific insurer like Riders, Dairyland, or even a company like State Farm that insures based on CC rather than the bike.
 
#14 ·
Wow, that is really interesting. It's looking more and more like my next bike is going to be either a Daytona or Street Triple :grin:
 
  • Like
Reactions: Joram144
#15 ·
I don't know man, insurance is so strange. I'm 51 with a perfect driving record, no claims, excellent credit (supposedly that's a factor now). When I got my 500R I priced the 600RR and it was around $300 a month, best I could do on the 500R is $70 with State Farm.

I just went on Geiko's site and here are some of the prices I'm getting:

500R: $77
Street Triple R: $66
Daytona 675R: $187
600RR: $191
650F: $199 !!!
 
#16 ·
I maxed out all the coverage's and here is what I get from Dairyland...

500R- $40.45
2015 675R- $91.29
2015 Street Triple R- $71.26
CBR600RR- $108.76

I ran a quote on Geico for the same 675R, $146.84/mo. $408 on a CBR600RR w/ABS.

I'm 24, No accidents/tickets, 750+ credit. Single, Male.

I recommend you really look into a smaller insurance company that deals with motorcycles. For example Viking Insurance associates in CA, which is the CA branch of Dairyland.
 
#19 ·
Sorry man, could be worse though.
 
#22 ·
I know how you feel. When I moved from NJ to Virginia there was a one year gap before Rider started writing policies in Virginia. Call them up and ask about them expanding to Ohio. I see they are now in Michigan. They could be adding more states sooner than later.
 
#23 ·
@Rocky244.

WOW. WOW. I'm floored. I just got off the phone with State Farm. Deductibles for collision and comprehensive at $500, 100/300/100K liability full coverage only $80 a month!!!!! 2015 Kawasaki ZX-6R ABS. 29 female licensed a little over 2 years no accidents or tickets.

I'm back to thinking about my upgrade now.
 
#24 ·
Great news, yet totally bizarre. I pay $70 per month in Los Angeles for my 500R, and that's with super low coverage.

Hopefully it's because you've had your license longer. I'm 51 with a perfect record but had only just gotten my license when I got the policy.

Anyway that sounds totally reasonable! Happy Day!
 
#29 ·
I'm currently paying $300/yr full coverage (Don't remember all the numbers right now) with Pacific Specialty Insurance on my 500R. If I go month to month it ends up being about $550 total. 41 yr. old single male.
 
  • Like
Reactions: Dave Edwards
#35 ·
I just moved and updated my address on Geiko for my car insurance. Got a pleasant surprise—my auto insurance dropped by like 25%. It's only 10 miles from where I used to live, but it's Ventura County instead of Los Angeles.

So I'm hoping my moto insurance will drop as well.

Been playing around on the Geiko site with different bikes and it's very interesting. It gives me $71 per month for my R, compared to $45 for an F. I think a slightly used F has to be one of the best buys there is.

Also a Street Triple R is significantly less than my 500R, go figure.

The other thing I discovered is any supersport is a huge jump. A Daytona is twice as much as a STR. Don't think I will be upgrading to a supersport any time soon, unless I go with an older one and minimal coverage.
 
#37 ·
Yeah, I always have been drawn more to the look of the full fairing bikes and I suppose part of me was trying to make up for not being able to get a sport bike when I was younger.

But I have really grown to appreciate the F.
 
#41 ·
Lets face it, insurance is legalized theft from a person! They charge whatever they think the "market" will bear because most states/countries mandate you have it. Many insurers do use credit scores to assess your fine, er, I mean insurance costs. AND, credit scores themselves are a hot mess. Ever try to decipher your credit history?? Nope, until we are all $oaked enough, and angry enough to demand insurance reform, we are doomed to pay, pay, pay.
 
#43 ·
Not to mention the amount of money they spend on advertising all claiming to be cheaper than one another. I honestly have sat thru entire 5 min segments of TV breaks seeing nothing but back to back to back to back commercials from the GEICO gecko, Flo from Progressive's new commercial of the week, "Like a good neighbor...State Farm...", The cartoon General, a second GEICO commercial during the same break, to finally Mercury Insurance "secret lab". It's insane, and I don't even think I named half of them. Maybe if they all stopped paying all that money to be running commercials every other minute we could all save hundreds even thousands a year.
 
#45 ·
I pay $200 a year for CBR 500R and I called to see what it would jump to if I got a cbr1000 rr and it would be over $700.This is for a 50 year old with a clean driving record.
 
  • Like
Reactions: Joram144
#46 ·
I know someone who knows an agent at State Farm and apparently they insure moto based on a 100% crash rate. Great!

I think the quotes we are reading here vary mostly from a geographic and coverage standpoint. With that said, I think the same person with same coverage who moves from one place, say, California, to the next, say, Oklahoma will see the discrepancies that we are seeing. Someone with max coverage versus min coverage but both offering full coverage will also differ. So full coverage doesn't paint enough of a picture. So really, not a fair comparison for the most part. Also, for me in California, all of the smaller insurance companies gave me the highest quotes. Like $4-5K.

Turning 30 in Dec and nothing would make me happier than getting a Ninja during their 30th anniversary. Perfect, right? Nay to Kawi green, though. The grey all the way.
 
#50 ·
Went and test rode a Daytona 675R and a CBR600RR today.

The 675R engine was smooth, and the shifting was precise. The 600RR was a bit rough and the shifting clunky. More comfortable seating position for me at first, but they were still similar.

I don't think I can buy a 600RR after those rides, but I'm not sure I want to get a 675R either, and they don't have my favorite color in the 675 standard. :(

At least the insurance is about $400/year less for the 675 standard...
 
#52 ·
I will never understand this insurance stuff. Apparently now I insurance a Daytona 675R for around the same price as my 500?!

Just emailed my State Farm agent and this is what I got:

Your currently paying $40.68 a month
For the Street Triple : its $42.40
For Daytona 675-$45.29
For Daytona 675 R- $44.88

Is their any logic to this?
 
#54 ·
It comes down to what insurance has to pay out per motorcycle crash. Every young guy buys a ZX6-R, R6, CBR600RR, or GSX-R600. They all wreck them so insurance is going to increase the rates. **** the CBR600 could have only 1 accident per 100 sold but falls in the same category as an R6 that has 90 crashes per 100 sold, so it gets lumped in.

Look at the Daytona, not many or sold so there is probably less crashes claimed. It's a 675cc 3cyl, not a 599cc inline so its grouped differently. The owners aren't typically 20 year old men. In other countries the Daytona actually gets classed in a difference insurance group.