Honda CBR 250 Forum banner

1 - 20 of 27 Posts

·
Registered
Joined
·
3 Posts
Discussion Starter · #1 ·
Ok, I'm pretty sure that this has been posted a million times, but I would like those who know the "Know How" to give me answers for my specific case, or if its hopeless.

I'm 20, going to school, male, and living in UT, USA. I would love to get my Honda CBR250r ABS, but for one thing. I can't find an affordable Insurance! Please help! I have a clean driving record, this would be my first street bike (plenty of trail) I seem to have checked everywhere, but no success on a reasonable price. Any ideas, tricks, and such that would help? Thanks, and let me know.
 

·
Registered
Joined
·
1,503 Posts
I've been an insurance agent since 1982. There are no easy answers for you. To start with, and to be blunt, if you can't find affordable insurance, you need to rethink purchasing a bike. But here are a few things you should consider:

- do you have a parent who has a bike? If so, and if your legal residence is at home, then you may be able to add your new bike to his/her policy. If they don't have a bike, but still have an M license, they could co-sign for the bike and take the insurance out in their name, but with you listed as a driver.

- Look to the agent who insures your cars or your parents' cars. There can be discounts.

- Look for an independent insurance agent, but one who represents Progressive and/or Dairyland. Independent agents have several companies from which to choose. State Farm is just State Farm

- Take the MSF course and make sure your agent knows that you did.

- Make sure that the agent knows where you've lived for the past 5 years, if you've moved from place to place. Or give them your soc. sec #. You need to make sure that they can get an insurance score on you (which includes credit, at least in most states)

- If you need to have coverage for the damage to your bike (and you probably will need this based upon your comments), then consider high deductibles

- If you are sure you never...NEVER..are going to ride 2 up, then eliminate the Guest Passenger Liability Coverage.

- If you have EXCELLENT medical insurance coverage AND if you are not riding 2 up, then consider eliminating or reducing the Uninsured Motorists coverage.

- Remember that as you get more riding experience and once you are insured continuously (and without claims) for a year, it's likely that your rates will drop. They should also drop when you hit 21.

- You use your bike for PLEASURE even if you use it to commute, you tell them it's for pleasure use.

Hope this helps. Good Luck.
 

·
Registered
Joined
·
1,503 Posts
Oooops. Forgot to add that I'm in Illinois and UT may have different insurance regulations. Most of what I said would pertain anywhere in the US, but I'm not guaranteeing that UT has the same rules as Illinois
 

·
Registered
Joined
·
501 Posts
Pay for it in cash, no financing. Get the minimum state reqiurements for insurance. Worked for me. But i can afford to repair it if i wreck it
 

·
Registered
Joined
·
1,089 Posts
Ok, I'm pretty sure that this has been posted a million times, but I would like those who know the "Know How" to give me answers for my specific case, or if its hopeless.

I'm 20, going to school, male, and living in UT, USA. I would love to get my Honda CBR250r ABS, but for one thing. I can't find an affordable Insurance! Please help! I have a clean driving record, this would be my first street bike (plenty of trail) I seem to have checked everywhere, but no success on a reasonable price. Any ideas, tricks, and such that would help? Thanks, and let me know.
I'm older than you but my insurance is only $250 per year. Dunno why but that's what they quoted me. I did pick and choose the level of protection and I do not have any passengers.
 

·
Registered
Joined
·
1,503 Posts
never ever get the state minimum liability coverage. it's just too low. I think TBC means buy only the Liability Coverage and skip the coverage for the bike, if you can afford it. Good plan, but I assumed that since you can't afford the insurance already, it's unlikely that you can't afford to repair the bike if it's wrecked.

You want to carry Liability Limits of at least 50,000 per person/100,000 per accident. Most states' minimum limits are 20,000 per person/40,000 per accident. If you severely injure someone in an accident, those lower limits will be exhausted quickly and who will pay the difference? you will. And don't think that you can get out of that by going bankrupt. You are responsibile for paying for the injuries you cause regardless of insurance and bankruptcy will not protect you..it will just spread the payments out. Incidentally, we recommend 100,000/300,000 as our starting point for our clients (we urge even higher), but if you truly can't afford it 50,000/100,000 is OK
 

·
Registered
Joined
·
1,089 Posts
Don't get pawned by the insurance. Cross examine an insurance quote vs. your health coverage to make sure you make the best decision.

The only person getting injured in an accident (car/truck/van vs. motorbike) is the rider. I strongly disagree with 100,000 per accident. I went with the middle coverage that suits all of my needs.
 

·
Registered
Joined
·
1,503 Posts
Gotta call BS on ya there AOP. Absolutley FALSE that the only person injured in bike accident is the rider. Just google the topic and you'll see just how much damage a 250cc bike like ours can do. And that's not counting (which you failed to do) accidents with pedestrians, bicyclists, or other motorcycles. You can "strongly disagree" with carrying 100,000 per accident liability, but that IS the "middle coverage". Most people should be carrying $500,000 per accident liability with a $1,000,000 personal umbrella policy over that.

The OP wanted advice on how to lower his insurance cost. I gave him as many tips as I could think of, but kept in mind that he probably can't afford the liability limits that he (and most everyone) should carry. OK, so maybe you made a choice to insure for lower limits and that's ok (potentially irresponsibile, but I'm ok with people making irresponsible choices), but don't go telling the guy that that's good advice for him. It's not. It's reckless advice based upon a false premise that bikers are the only ones injured in a crash.

Jason -- Read my previous post. Talk to a professional insurance agent, not a bunch of bikers, and get a policy that is tailored to meet both your budgetary situation and your obligation to pay for any injuries that you may cause in a crash.
 

·
Registered
Joined
·
1,503 Posts
^ Ya know, that may have come across harsher than I had intended. It's late. My apologies. But the key point is still valid: The Liability portion of your insurance coverage is the most important part and should be carefully considered when making your purchase.
 

·
Registered
Joined
·
10 Posts
I have to agree with Empty Sea on this.

Though the likelihood of severely injuring anyone with a motorcycle is not very high, it is still possible. With the amount of crooks in the world and the extremely high cost of any kind of medical bills, you have to go with better coverage.

For full coverage and a 100/300/100 policy, my insurance is $700 a year. I am getting a slight discount for taking the MSF course and for having other policies with them.

That seemed like a lot to me but they told that if I had gotten a CBR600RR my insurance would $2000 a year and if I had gotten a CBR1000RR it would be $5000. $700 doesn't seem so bad after all.
 

·
Registered
Joined
·
160 Posts
Progressive was 1/4 the cost of Allstate and 1/3 the cost of State Farm for me. Shop around
Interesting, I had progressive for my Buell Blast but then switched to State Farm which was 50% less. When I switch to my Triumph Daytona 675 Progressive wanted $1200 verses State Farm was $280. I am 56.

I do agree with the suggestions from Empty Sea and shop around. All companies are not equal, but you do need insurance. If you have major medical insurance, then the most important is liability for damage you may cause. The chances that you cause damage to others in an accident are low, but if you 'cause' an accident where someone else is injured or killed, you will be liable.
 

·
Registered
Joined
·
109 Posts
Progressive was 1/4 the cost of Allstate and 1/3 the cost of State Farm for me. Shop around
Yes I am looking at the CBR and my current provider wants $135 per Month! I did an online quote with Progressive last night and it was $32 per month for slightly better coverage (both are pretty high coverage plans).

However my current KLX250 is only $200/ year from my current provider which is the same as progressive.
 

·
Registered
Joined
·
3,527 Posts
Ok, I'm pretty sure that this has been posted a million times, but I would like those who know the "Know How" to give me answers for my specific case, or if its hopeless.

I'm 20, going to school, male, and living in UT, USA. I would love to get my Honda CBR250r ABS, but for one thing. I can't find an affordable Insurance! Please help! I have a clean driving record, this would be my first street bike (plenty of trail) I seem to have checked everywhere, but no success on a reasonable price. Any ideas, tricks, and such that would help? Thanks, and let me know.
Progressive gave me full coverage on the Honda and basic coverage on my Ninja250 and Ninja650 for $401 for the year. They are 1/3 the price pf other insurance companies on motorcycles.
 

·
Registered
Joined
·
1,503 Posts
Here are a few (and by all means not all) of the variables that will go into your final insurance rate: residency, length of time at that residence, age, occupation, credit score, type of bike, use of the bike, driving experience (time and record), riding experience (time and record), MSF course, how many bikes you own, claim history, prior insurance coverage (length of time insured, how many lapses in coverage, policy limits carried), homeownership.

This is only part of the list of possible rate factors. This is why only you can know if Progressive is better for you than State Farm. I sell Progressive, but that doesn't automatically make it right for everyone. An Independent agent who can do some of the shopping for you should help. Also get quotes from State Farm Allstate and any other decent insurance company. Progressive and Dairyland are big into motorcycles, so they are good choices to look at, but you still need to shop around. Ask your agent what companies he is looking at and maybe check the internet for other options. However, internet insurance rates are notroiously inaccurate, so be aware of that. Again, good luck.
 

·
Registered
Joined
·
3 Posts
Discussion Starter · #17 ·
Thanks for the help, (frankly better than expected, but thats a good thing) especially to Empty Sea, but still if anyone else has any other ideas, companies, or such please continue to post.
 

·
Registered
Joined
·
83 Posts
i have statefarm .. clean driving record .. 25yrs old .. have most of my insurance through statefarm .. my bike is being financed so i had to get full coverage .. 500 deductible .. i pay about $26 a month!!
 

·
Registered
Joined
·
57 Posts
mine wasnt bad....allstate (have home, auto, life and moto) 27 years old, and its $52 a month. but i think its alittle high due to be a fairly new rider.
 

·
Registered
Joined
·
9 Posts
I've got Statefarm for my renters, auto, and bike. At 27 I'm paying $176 a year with a $250 deductible. I financed the bike so I'm currently carrying full coverage.

I've got a pretty clean driving record with only two speeding tickets from when I was a teen and a rear ending that my insurance ended up having to cover b/c the guy was uninsured. :mad:
 
1 - 20 of 27 Posts
Top