Motorcycle Insurance for the NC700X in the USA

[skiphunt]

I just bought my bike a week ago and failed to check with the insurance company before I bought it. After I read this last night I felt a little ill.

Should have checked out before I bought the nc700x. For some reason, the insurance sky-rocketed and I'm not entirely sure why just like other's have cited here.

I carry GEICO with the bare essential liability and comprehensive ins for the 2005 strom I have. That was running me $111 for the year last year. My renewal dropped to $101 for the year.

When I checked how much the same coverage with same deductible would go up for the 2012 nc700x and it went to $513. What?! I checked and double checked. Granted, it's a new bike, but still... I can't believe it went up that much.

Someone here said Allstate was reasonable and I'd just got a promo letter offering some discounts to switch. The price with AllState for basically the same coverage I have now, is $134 for the year which also covers theft and $1000 of bike accessories (GEICO didn't cover the accessories). That's more in-line with what I was expecting. Why GEICO want's to raise the rate so much more for this bike is a mystery.

Goes without saying... I'm now insured with AllState.

 

[NCer]

Just wanted to mention...(for us "Northerners")

AT least in NJ, the ALLSTATE will not allow you to cancel the policy for the winter. They will take your money for the full year.

With Rider (and many others) - you can. This is what I have been doing for years. So, the actual cost of the policy is about the half of what's been quoted.

 

[Rocker66]

In the UK many companies will reduce your cover (and premium) to just fire & theft during winter months

 

[NCer]

YOu could do the same with Rider (at least, maybe others) if you choose to keep the policy active.

 

[johnakay]

just got my reminder from Carol nash(she no longer owned this,sold off to some French company)
£273!=$415.57 fook dat way to much full no claim bonus (never claimed in 38 years). must looky around for cheaper quote

 

[westgl]

Cheapest insurance i have found is through Costco it is Heartly Insurance they were significantly lower than Progressive (currently using), or Geico, or, 21 century, I have excellent credit and driving history

 

[StratTuner]

Progressive was $120 a year.
I have no idea what kind of coverage it is. I'm sure it satisfies the legal requirement, but that's all!

 

[cdnuser]

You guys are lucky, the best I could do was 1300/year here in Ontario. No tickets No accidents. Over 30. Mind you this is my first street bike, so I am considered a new rider.

Plus you will be lucky to be able to ride the bike longer than 3-4 months a year.

 

[skiphunt]

Progressive was $120 a year.
I have no idea what kind of coverage it is. I'm sure it satisfies the legal requirement, but that's all!

I think for the legal requirement, mine was going to be $114 via Allstate. But, I decided to add the comprehensive to cover theft and up to $1000 bike add-ons for an extra $20.

Still baffled as to why my Geico insurance was going to jump from $103 currently due on my v-strom, up to $513 on the ncx. They must have this bike categorized way wrong or something. I've never had a claim and haven't had a ticket in years.

 

[ShoGinn]

Not to drum up an old post, but this was very helpful for me.

I am a USAA member and Progressive usually gives me great discounts on motorcycle insurance.

But when transitioning from a Honda CRF250L to the NC700XDF the cost went from $75 to $570 for the year!!!!!

I was able to use this thread to call Geico and get a rate for the same coverages (Full Coverage with $1k deductible) at $160 for the year.

Wow amazing how companies can be so different.

Good luck and safe riding!

 

[jayceegee]

$325 a year with full coverage, medical, etc -- Here in WA state insurance is not required on motorcycle but I carry it because of the new bike.

 

[TCRider]

Just FYI but my liability only coverage with State Farm is $180 a year.

 

[rooster 06]

It may be a geographic thing. I pay $252 a year for full coverage in Wyoming, and this is my first bike (other than riding dirty bikes as a teenager). I got mine through USAA, which partners with progressive for motorcycle insurance.

Sent from my SM-G900T using Tapatalk

 

[GregC]

comparing prices of insurance without the limits, replacement values, and deductibles is rather silly. Knowing one policy is $800 vs another that is $110 doesn't really tell you anything. I find the insurance ads on TV in the US hilarious because they all say you'll save about $450 by switching ... obviously that can't be because by switching a few times you be close to zero. There's lots of inexpensive insurance available if you take high deductibles, low coverage (or only liability), and don't get full value replacement cost. For Progressive in NC, with the same policy terms, the NC700x was slightly above a new Vstrom 650 and materially less than a BMW F800GT.

 

[ChuteTheMall]

Having your car and motorcycle insurance together from the same company should yield great discounts.

 

[ColoradoRod]

I'm looking at my renewal notice from State Farm right now. I'm paying $145.87 per year for full coverage here in Colorado. I have a house, car, and 2 additional motorcycles insured with State Farm so I'm getting a multi-line, multi-vehicle discount. I'm also the only driver in the household and I'm 47 years old. My deductible is $500 for both comprehensive and collision. I've been insured with State Farm since I first started driving--31 years ago. Ouch. I'm old.

This is the first motorcycle I've put full coverage on. Liability only for the other 2 (antique-type) bikes is something just shy of $30 per year, per motorcycle.

 

[glencoeman]

We had a similar problem in the UK when the NC was introduced. It seems that when a new bike is launched, insurers are unsure how to assess it and are over cautious till it becomes apparent what insurance group the bike should be in. Some owners were moaning at the time but the premiums are much more realistic now.

 

[670cc]

Having your car and motorcycle insurance together from the same company should yield great discounts.

That's what the insurance companies would want you to believe, but I've actually found that not always to be the case if I shop around. I've had instances where if I switched my house to the company that covers the car, they could give me the car insurance for free and still be overpriced on the car/house insurance package.

Shop around often and make no assumptions about the value of the "discounts".

 

[SergeantChuck]

Here in WA state insurance is not required on motorcycle

What? You can tell I have not lived there for a long time. This is surprising. I was in the military when I rode in Washington State. Pretty sure I was required ot have insurance but that was probably an Army thing. Is this new or has it always been that way?

Edit: I just saw thew law is only 25 years old. I moved from Washinton in 1989.

 

[Nortwestrider]

My problem is my insurance company considers the X a sportbike .
It cost more to insure than my DL1000 did with the exact same coverage.


Live life,be yourself !!!!.