How many miles on your bike?


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Detrich

New Member
i just called my insurance co, McGraw. and, turns out that if i double my "reported estimated annual mileage," my premium will go up by $100... WTF?! oh well, better to find out now and pay them up front than to have them question all this stuff later on... i also asked them how much it would cost for me to add a 2009 R6 to my existing policy and keep both bikes... (psyche)

Liab & Unisured motorist is the exact same as the 6R, and would only be $228/ year.... BUT, and this is a big 'but,' they classify the R6 as Type 2 - High Performance vs. the 6R, which is Type 4 - Touring. and, as a policy, they do not offer Comp & Collision for Type 2 bikes unless a rider has been licensed for 3 consecutive years and has had no 'at fault' accidents etc... :( I currently pay $450 + the $100 = $550 per year for Liab, Unins Motorist, Comp, Collision, + towing for the 6R.
(I know this is a bit high, only because I have 1 point on my driving record from a 3 year old fender bender in the cage that comes off in about 3 months. Then my record is squeaky clean again.)

Jay & Mike> am just curious, do u guys both have Comp & Collision on your R6's and what carriers do you guys use? if you don't feel comfortable posting here just PM me... thanks :)
 
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frelay

New Member
Detrich said:
i just called my insurance co, McGraw. and, turns out that if i double my "reported estimated annual mileage," my premium will go up by $100... WTF?! ...
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The only advice I can give you (well, you took my first one, good for you!) is to shop around. Try to get a quote for all your assets for all possible insurers. Insurance companies will give you some nice incentives if you insure the house, car and bike with them. Often times, there will be huge diffrences in prices.

Also, never ever "hide the truth" to insurance companies. They will find out and you will pay for hiding the truth for a long time.
 
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JonKerr

Senior Member
Elite Member
I actually Emailed my insurance company to let them know and here's what I just got back.

"Once underwriters send you a note to show proof of mileage and it is over 7500 miles annually then your rate will change to a regular-mile driver. Which will increase your premium. Right now it is $44.59/monthly... When the increase is made, it will go to $53.00/monthly."

So I'm assuming I just need to wait for them to send me something so I can declare it. Since I've Emailed them and let them know, they can't come back to say I never let them know if something happens between now and then. Right??? :confused:

And yes I have Liability, Uninsured Motorist, Comp, Collision, GAP, and TAG on the bike. State Farm considers the bike a sport bike just like any other sport bike. They only really care about displacement, which is why I went with them. As a brand new rider, they were the only company quoting under $2500 a year for that kind of coverage and most were over $3000.
 
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JSP

Super Moderator
Detrich said:
i just called my insurance co, McGraw. and, turns out that if i double my "reported estimated annual mileage," my premium will go up by $100... WTF?! oh well, better to find out now and pay them up front than to have them question all this stuff later on... i also asked them how much it would cost for me to add a 2009 R6 to my existing policy and keep both bikes... (psyche)

Liab & Unisured motorist is the exact same as the 6R, and would only be $228/ year.... BUT, and this is a big 'but,' they classify the R6 as Type 2 - High Performance vs. the 6R, which is Type 4 - Touring. and, as a policy, they do not offer Comp & Collision for Type 2 bikes unless a rider has been licensed for 3 consecutive years and has had no 'at fault' accidents etc... :( I currently pay $450 + the $100 = $550 per year for Liab, Unins Motorist, Comp, Collision, + towing for the 6R.
(I know this is a bit high, only because I have 1 point on my driving record from a 3 year old fender bender in the cage that comes off in about 3 months. Then my record is squeaky clean again.)

Jay & Mike> am just curious, do u guys both have Comp & Collision on your R6's and what carriers do you guys use? if you don't feel comfortable posting here just PM me... thanks :)
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Yes, I have full coverage on the R6. I have State Farm. Only pay around $20 a month. This is also after I totaled the 6R. They didnt raise my premium at all. I also have a speeding ticket on the R6 :eek:.
 
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JonKerr

Senior Member
Elite Member
jspansel said:
Yes, I have full coverage on the R6. I have State Farm. Only pay around $20 a month. This is also after I totaled the 6R. They didnt raise my premium at all. I also have a speeding ticket on the R6 :eek:.
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I wish California rates were that low. But there are probably more bike thefts in San Diego a week than there are in a year where you're at.
 
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OffTheClock

New Member
I am curious, what are your full coverage limits? I am told you only are required to have 15,000/30,000 and the maximum most insurance companies allow is 300,000. I have an umbrella policy so my insurance insisted on the maximum full coverage and my premium is around $650 pa based on 3000 miles a year. This is my first road bike so am trying to find out what the best coverage is. Any advice is appreciated
 
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Detrich

New Member
Dang Jay, that's really cheap! Am so jealous... I wonder if McGraw will adjust my rate once that point comes off my DMV record in June =\

Well, at least I now know what I'm up against if I decide to upgrade. Ive shopped around, and McGraw is the cheapest for now...

State Farm has great service and great rates. But, in my exp they tend to be a "fair weathered" insurer. That is, if u get 2 (or more) accidents in one year, then they'll either drop you immediately or theyll raise ur rates so high that u will want to drop them. =(

Most of my friends who've been riding for many years have similar rates & coverage as Jay... I guess I just to be licensed 2 more years and continue to be accident free... Sigh

Thanks everyone for sharing the info. Definitely helps
 
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behindXgrnXeyes

New Member
Jeez, I pay like 77 a month but I have full full coverage. It was required that i did this through the company i finanaced the bike through, but I found it 2 just be a good idea...plus driving in florida with all these idiots. I have protection against insured, uninsured, my passenger is covered, if I totaly my bike in 3 years i get a new one or if its stollen I get a new one. Not the coverage that calculates its worth and gives you that, I paid a little more to get a brand new bike if its stollen.
 
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JSP

Super Moderator
offtheclock said:
i am curious, what are your full coverage limits? I am told you only are required to have 15,000/30,000 and the maximum most insurance companies allow is 300,000. I have an umbrella policy so my insurance insisted on the maximum full coverage and my premium is around $650 pa based on 3000 miles a year. This is my first road bike so am trying to find out what the best coverage is. Any advice is appreciated
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100,000/300,000
 
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sbhoopsfan

New Member
I've had mine since november 108 miles :eek:
 
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flyingminno

New Member
Thought I'd do an update. 1 year and 4 months, 2 tires, several mods and about 82 full gas tanks later, I'm now in the middle of 13,000 miles and she hasn't let me down once!
 

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