Question on insurance for new Versys - Kawasaki Versys Forum
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post #1 of 33 (permalink) Old 07-03-2015, 02:40 PM Thread Starter
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Question Question on insurance for new Versys

I just put down a down payment for a 2014 Versys 650 and will be picking it up next week. This is my first motorcycle and I'm trying to decide what insurance company to use and what type of coverage to get. I have Geico for car insurance and got these quotes for motorcycle coverage:

Without collision coverage:



With collision coverage:



From the description on that page it sounded like "collision coverage" is for when the accident is my fault (such as dropping the bike or causing an accident), so it would definitely be comforting to have it, but the premium is much higher than I expected even with the highest collision deductible.

The only "black marks" on my record are that I've never owned a bike before and a 42/35 speeding ticket from 2 1/2 years ago when I was going through a ravine.

What are your thoughts on Geico and this insurance quote? Any advice would be greatly appreciated!
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post #2 of 33 (permalink) Old 07-03-2015, 03:46 PM
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dont get geico.. they hate bikers.. progressive is the best cheap insurance you can get for bikes.. they take about a month to pay out for stolen bikes but pay out well when they do and i have full coverage on my 08 for $24 a month on month to month $500 deduct for a $4500

yes im a guy.
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post #3 of 33 (permalink) Old 07-03-2015, 04:38 PM
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Originally Posted by silviefox View Post
dont get geico.. they hate bikers.. progressive is the best cheap insurance you can get for bikes.. they take about a month to pay out for stolen bikes but pay out well when they do and i have full coverage on my 08 for $24 a month on month to month $500 deduct for a $4500
That's about where I am at with Progressive as well. Geico used to be cheaper for me years ago. Not anymore. I have an '87 Chevy truck. I pay $34 a month for liability only. Geico wanted $90 a month for same coverage!
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post #4 of 33 (permalink) Old 07-03-2015, 04:46 PM
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Quote:
Originally Posted by blazblu82 View Post
That's about where I am at with Progressive as well. Geico used to be cheaper for me years ago. Not anymore. I have an '87 Chevy truck. I pay $34 a month for liability only. Geico wanted $90 a month for same coverage!
i had that green f*cker for my postie and it got stolen and they refused to pay out for it
oh and 95 nissan pathfinder with me being 19 and sr-22 was $249 a month... not year month

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post #5 of 33 (permalink) Old 07-03-2015, 04:59 PM
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Just shop around. Unfortunetly, I have found I get better rates when I go into the office rather than the internet. I got some awesome quotes online, but when time came to buy it the rates went way up.
I pay $12.47 a month for my V, full coverage w/ a $500 dedctable.
Your prices will vary depending on age, location, history. I am 29, clean record took the MSF course with a bike license for 11 yrs now.

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post #6 of 33 (permalink) Old 07-03-2015, 05:03 PM
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We had an issue with Progressive refusing to pay when my daughter's bike was hit. 100% the other driver's fault (driving fast up the shoulder around a blind corner). The other driver also had Progressive. They decided it was a 50/50 fault accident.

Anyhow, I only use State Farm for all our auto/home/motorcycle/boat (when we had one) insurance. They've always been really good to us in the rare cases we've made claims.

Cheap is great until you have to make a claim. Then it might not be so great! Your agent is there to fight for you, but you don't have an agent with the online insurance companies.
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post #7 of 33 (permalink) Old 07-03-2015, 05:31 PM
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I literally just got home from picking up my new ride.

I checked with Geico. They wanted the same from me. I then went to State Farm. They carry my autos and life insurance. 23.00 per month full coverage.
I'm 52 and can't remember the last time I had to use the words....

"Good evening, officer. Is there a problem?"

Old age and treachery !
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post #8 of 33 (permalink) Old 07-03-2015, 05:37 PM
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Originally Posted by Zoomie View Post
I'm 52 and can't remember the last time I had to use the words....

"Good evening, officer. Is there a problem?"

Old age and treachery !
That's because old people are already home and asleep by evening!
Just kidden. Enjoy the new bike.

08' Versys
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post #9 of 33 (permalink) Old 07-03-2015, 07:19 PM Thread Starter
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I got a quote from Progressive since several of you mentioned getting low rates through them:



Yikes!

I had no idea motorcycle insurance would be this expensive. Geico is the cheapest at the moment, but if I get full coverage then after about four years I will have paid the cost of the bike in insurance premiums :-(
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post #10 of 33 (permalink) Old 07-03-2015, 07:33 PM
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Originally Posted by N00bster View Post
I got a quote from Progressive since several of you mentioned getting low rates through them:



Yikes!

I had no idea motorcycle insurance would be this expensive. Geico is the cheapest at the moment, but if I get full coverage then after about four years I will have paid the cost of the bike in insurance premiums :-(

Are you in California ???? Because you'll need some K-Y Jelly when you go to get a bike insured... I just get liability and un-insured, under-insured coverage....

2009 Blue Versys.
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Last edited by weljo2001; 07-03-2015 at 07:35 PM.
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post #11 of 33 (permalink) Old 07-03-2015, 07:35 PM Thread Starter
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Are you in California ???? Because you'll need some K-Y Jelly when you go to get a bike insured...
I'm in Virginia. Maybe the rates are so high because I'm 24 and this is my first bike (perhaps there's just not a lot of trust on their end...).
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post #12 of 33 (permalink) Old 07-03-2015, 07:37 PM
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I'm in Virginia. Maybe the rates are so high because I'm 24 and this is my first bike (perhaps there's just not a lot of trust on their end...).

Some of the insurance companies list the Versys as a sports bike....

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post #13 of 33 (permalink) Old 07-03-2015, 08:39 PM
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Your age will definitely command higher rates; plus that violation you have won't help at all. I'm 32 and have full coverage on my 2011 V650 and it runs me just shy of $28 per month. That's with 3 violations and an accident I caused in 2013 and I am with Progressive.

You may find starting off with a cruiser may yield you much better rates. Ride those for a few years and let that violation drop off. Getting a used older bike helps a lot. The older, the better the rate (might depend more on bike type though).

Another thing that will affect your rate is your credit score. Believe it or not, these internet insurance providers use your credit score to determine your rate. So if that is bad, your insurance rate will be too. It's really sad that a score used to determine your credit worthiness is also used to determine insurance rates and even employment.
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post #14 of 33 (permalink) Old 07-03-2015, 10:02 PM
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I have Foremost Insurance... Full coverage.. $165 for the whole year.

Last edited by duhs10; 07-03-2015 at 10:36 PM.
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post #15 of 33 (permalink) Old 07-04-2015, 01:28 AM
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Dang, you're grabbing the ankles. I have medical, underinsured, liability, and uninsured for $77 a year from Progressive.
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post #16 of 33 (permalink) Old 07-04-2015, 01:43 AM
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One other thing to note, when financing a vehicle, the lien holder requires full coverage. You said in your 1st post that you put a down payment on the bike. This indicates you are financing it.

You may want to call the insurance groups you are getting quotes from to get more detailed information.
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post #17 of 33 (permalink) Old 07-04-2015, 02:17 AM
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We had an issue with Progressive refusing to pay when my daughter's bike was hit. 100% the other driver's fault (driving fast up the shoulder around a blind corner). The other driver also had Progressive. They decided it was a 50/50 fault accident.

Anyhow, I only use State Farm for all our auto/home/motorcycle/boat (when we had one) insurance. They've always been really good to us in the rare cases we've made claims.

Cheap is great until you have to make a claim. Then it might not be so great! Your agent is there to fight for you, but you don't have an agent with the online insurance companies.
Nothing stinks more than 2 suckup insurance companies screwing both customers. Even if it wasn't the same insurance company, YOUR insurance company does not want you to have legal rights so they BOTH don't have to pay anything.

The ONLY way to get around getting screwed is to tell them to speak to your LAWYER! It won't be paid overnight, but it WILL all get paid to you eventually, plus a little more here and there and all over
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post #18 of 33 (permalink) Old 07-04-2015, 02:26 AM
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Every claim that ever paid what I believed was fair I had to use a solicitor to get what was due.
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post #19 of 33 (permalink) Old 07-04-2015, 03:04 AM
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That's because old people are already home and asleep by evening!
Just kidden. Enjoy the new bike.
Word !

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post #20 of 33 (permalink) Old 07-04-2015, 06:26 AM Thread Starter
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One other thing to note, when financing a vehicle, the lien holder requires full coverage. You said in your 1st post that you put a down payment on the bike. This indicates you are financing it.
Actually I'm paying in cash. I just put a down payment over the phone so that they would hold it for me (maybe I used the wrong terminology here..).
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