Reintroduction and imporant insurance question - Kawasaki Versys Forum
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post #1 of 15 (permalink) Old 12-28-2012, 06:39 PM Thread Starter
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Reintroduction and imporant insurance question

Hey everyone!

I introduced myself a few months ago about purchasing a Versys 650. Well, here's the quick update.

-I attended a MSF course and received my certificate/license
-Hammered down a local dealer on the price of a 2012 Versys. It's a great deal.

Here's the issue.....I'm SHOCKED at insurance quotes I'm getting back. Like $120 a month shocked! I'm assuming 0 years of rider insurance is my biggest thing.

Here's a geico quote I got....

$25,000/$50,000 for BI
$15,000 for PD
$25,000/$50,000 for uninsured motorist
$1,000 deductible for comprehensive
$1,000 deductible for collision
$0-2000 in accessories

$105 a month from Geico and I got a similar quote from Progressive.

Is this crazy high? Or is this the writing on the wall for a new rider?
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post #2 of 15 (permalink) Old 12-28-2012, 07:31 PM
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I don't know your age or marital status, makes a big difference. I remember my rates for a Kawasaki 700 LTD (My first bike at 18 years old) back in 1989. Damn they put the screws to me, but I was young, male (still am), and single.

The Versys is classified as a "sport" bike. Just take a look at the Kawasaki Website.

You will find that your rates go down some if you pay by the year instead of the month. Location has a lot to play into the equation as well.

I am 41 years old, roughly 24 years of riding experience (Progressive asks this), Male, Married, MSF certificate. I bought my bike outright so I can choose less than full coverage.

I just checked and my first two years were ~$244 per year for full coverage. Since then, I dropped down to just liability/uninsured motorist and my cost is now $110 a year.

If you are young, male, and single, you are a much larger insurance risk than if you were married and older.

Progressive has been the cheapest EVERY time I have quoted the big names. Never made a claim, so don't know how good they are. Claim time is when you really know how good your insurance is.

Last edited by Capn Kirk; 12-29-2012 at 09:22 AM.
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post #3 of 15 (permalink) Old 12-28-2012, 09:37 PM
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Here's my GEICO Coverage cost (Southern California):
2010 KAWASAKI VERSYS
Total Vehicle Premium: $304.00 per year (No points on driving record, no tickets)
Bodily Injury Liability Current Limit: $300,000/$300,000 $42.00
Property Damage Liability Current Limit: $100,000 $14.00
Medical Payments Current Limit: $500 $13.00
Uninsured Motorist & Underinsured Motorist Current Limit: $100,000/$300,000 $72.00
Protects your vehicles
Comprehensive Deductible $20.00
$200 Ded.
Collision Deductible $133.00
$250 Ded./Waiver
Uninsured Motorist Property Damage Deductible $0.00
I Reject this Coverage
Towing and Labor Deductible $10.00
Non Deductible

Yes, I carry max liability and have umbrella policy on top of that. Look at someone here and you get sued....

Someday is not a day of the week.
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post #4 of 15 (permalink) Old 12-28-2012, 09:39 PM
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That is why you should buy a used bike at a lower cost and then you will pay less to insure.

Find a bike you can pay cash for and hone your skills, build your experience and then go from there. If you truly love riding, it won't matter what kind of bike you ride.

I have never carried collision on any of my bikes until I got a couple that cost as much as a new car. And then I only carry it for the first two years.

I do carry comprehensive coverage though because I would had for a tree limb, or wind, or an anima, or vandall to take out my bike and have to pay out of pocket.

My Versys Travels:


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post #5 of 15 (permalink) Old 12-28-2012, 10:41 PM
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THIS-"writing on the wall for a new rider", I was shocked as well about how much the insurance was, it's about double the cost as my Vulcan 900 for the same coverage.
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post #6 of 15 (permalink) Old 12-28-2012, 11:36 PM
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When I was searching for insurance Geico and Progressive were the highest quotes I got. I checked around and found State Farm with Full coverage would run me under fifty bucks a month, now four years later its now less than forty bucks a month.
I know age and experience are key, but I was told that they also based the rate on engine size.
Don't give up, keep looking, there's better prices out there.
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post #7 of 15 (permalink) Old 12-29-2012, 08:23 AM
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Quote:
Originally Posted by lowflyer43 View Post
I checked around and found State Farm with Full coverage would run me under fifty bucks a month....
I have my house & two cars with State Farm. They qouted triple what Progressives rates are. I know the clerk who works at my State Farm local office and she explained that "they can't touch Progressives Motorcycle rates". Maybe its a Virginia thing. She continued that they subcontract out their motorcycle policies. Motorcycle coverage are not State Farm policies and that's why they can't combine them with the vehicles and home for multiple vehicle and additional discounts.

Lowflyer, glad you found the best rates at State Farm. That's a perfect example of shopping rates everywhere! I even rang a bunch of phones at my local insurances places who sell policies from multiple companies. Nobody came close to Progressive. The next closest was Geico and they were double.
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post #8 of 15 (permalink) Old 12-29-2012, 08:41 AM
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$110.00 a year is great! Fast Eddie found a great rate too its on one of these insurance thread.

I need to check around and get some insurance for uncoming season.





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post #9 of 15 (permalink) Old 12-29-2012, 08:57 AM
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Let's see here...

Farm Bureau Insurance
Over 50
Been riding a long time
No riding course certificate but they took my Honda Riders Club membership #
Bike less than 750cc
$244 a year FULL COVERAGE

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post #10 of 15 (permalink) Old 12-29-2012, 01:27 PM
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Originally Posted by MTS View Post
$110.00 a year is great! Fast Eddie found a great rate too its on one of these insurance thread.

I need to check around and get some insurance for uncoming season.
Dairyland at about $250/year. 250,000/500,000 and collision....



(Someone else on this site recommended Dairyland, so I went there AFTER Progressive....)

Ed
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Last edited by fasteddiecopeman; 12-29-2012 at 01:29 PM.
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post #11 of 15 (permalink) Old 12-29-2012, 01:56 PM
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Quote:
Originally Posted by fasteddiecopeman View Post
(Someone else on this site recommended Dairyland, so I went there AFTER Progressive....)
Thanks for the tip! I will quote them next time around! My guess is it will be really close because your full coverage is what my full coverage was with Progressive. I imagine my liability wont get much lower than the $110 I am paying a year now.
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post #12 of 15 (permalink) Old 01-02-2013, 06:03 PM
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Quote:
Originally Posted by Capn Kirk View Post
...

The Versys is classified as a "sport" bike. Just take a look at the Kawasaki Website.

...
Hey Capn K

On kawasaki canadian website it's listed in the "street/touring" section, ... go figure

Ciao

LOP
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post #13 of 15 (permalink) Old 01-02-2013, 08:24 PM
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Hey Capn K

On kawasaki canadian website it's listed in the "street/touring" section, ... go figure

Ciao

LOP
Wish it were here... Might bring our rates down.
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post #14 of 15 (permalink) Old 01-08-2013, 08:39 PM
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Believe me, you are very lucky with an insurance rate that low.

Many of my Quotes were 5-6 THOUSAND a year.

I managed to receive a quote of 1800 a year.

I'm a rider with 1 year experience. I suppose it's the nature of the beast
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post #15 of 15 (permalink) Old 01-08-2013, 10:38 PM
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My bike insurance almost doubled when i moved from texas to california.

2009 Blue Versys.
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