Ducati 899 Panigale Forum banner

Bike and Car on same insurance plan?

3K views 9 replies 7 participants last post by  mcouper99 
#1 ·
I'm in New Hampshire and 26 years of age.

I pay 584$ for full coverage a year through Allstate for my 2011 Subaru STI Sedan.

I pay 1408$ a year for my 2014 899 through Foremost insurance.
Covered up to 25,000$ medical per rider, uninsured motorist insurance incase of other drivers with no insurance, bike is covered by the amount the bike is worth incase it is totalled/stolen.

  • Should I be paying so much more for my motorcycle insurance than my car insurance?
  • Should I even be paying 1k+ for insurance? The MSRP of the Subaru when I bought her was 36k and the MSRP of the 899 is only 15k in comparison ...
  • Should I have my motorcycle and car insurance on the same bill to get reduced rates?

Progressive Insurance quoted me at about $1000 for insurance.

In May when my insurance policy expires I'll be making the switch.
 
See less See more
#3 ·
There are a lot of great threads on the topic of insurance.

Some highlights... Allstate hates sportbikes. State Farm seems to be best if you are not in the Rider's coverage area. Farmers (Foremost) is what I have and they are accepting of sportbikes.

I have home and car coverage with them and it is typically better to consolidate, though some companies have to issue separate policies.

The Panigale is particularly expensive due to the parts that can be easily damaged, such as fairings etc. They make the bike easy to total leading to large payouts and salvage bikes. My RR added an increase, but being a 200 HP bike didn't double my premium.

Progressive and eSurance (Allstate online) are not sportbike friendly.

Look at State Farm for at least car and bike, consider renters or home owners as applicable.
 
  • Like
Reactions: Panzer
#4 ·
After seeing the notification and coming back to this post, I thought I would follow up...

In addition to my daily driver truck and my wife's car, I have a 911 and 370Z Nismo. The insurance on just those two combined is around $1k every 6 months and my bikes combined is about $2.3k a year.

The premiums are based on risk and not overall value. You are most likely to total a high value sportbike and endanger yourself and others on the 899 than you are a sports car even as they are typically repaired and provide at least some protection to the occupants.

The 899 alone with State Farm was over $1k.

I paid cash for both bikes, but still have comprehensive coverage. Liability only would be significantly less.
 
#5 ·
well,
it's probably moreso what you don't have on the insurance.. are you a home owner? why not have them all on the policy? that makes a big difference.
when I was shopping for my 3 cars, the bike and the house...the more of them I had together, the cheaper it was. It jus sucked when a co. didn't insure bikes...LIke AAA.

Independently, Rider Ins was the cheapest full coverage I could find (not having anything else insured with them) compared to every other insurance co. only insuring the bike. I think rider was $648/yr

The first time I tried to get the Pani on my Allstate plan (which insures my house and cars) they wanted to charge me like $2200/yr. This was back in 2014. I revisited Allstate in early 2015, and my agent put the bike on my policy for $400/yr (full coverage of course).... by far the cheapest I could find.
(so don't count out allstate)
and I also suggest talking to an actual agent if you haven't...as opposed to getting quotes on these companies website.
So with allstate, I pay ~$1,300/yr for 3 cars, $400/yr for the bike.
 
#6 ·
Im paying $1300 a year for my 899 through Nationwide and I'm 50.

The way insurance companies work is that you might actually pay more insurance for a run of the mill average car than say a more expensive luxury car in some instances.

Reason being is that insurance companies look at a particular vehicle and ALL the claims they had to pay out within a year and base insurance rates on that... its like, they pay more more claims on all the Ford F150 pickup trucks they insure vs. all the corvettes they insure, so the rates on a corvette are cheaper (with age, accident hx all being equal)... this was my exact case, even though a corvette may be more expensive to fix, statistically they're paying more out for the trucks as an example.
 
#7 ·
So, bikes are more "at risk" for having an accident than cars statistically... so that's why insurance premiums are higher on bikes, most of the time a bike gets laid down, its going to be totaled as opposed to just fixing a bumper on a car. Also, younger drivers are also more likely to get into more accidents, that's why they often pay a higher premium too,
 
#8 · (Edited)
Update on this post.
When I purchased the bike I had freshly turned 26 but my insurance company didn't adjust for my age bracket. On the new year they lowered my rate from $1408 to $1008 for the Panigale because I entered the 26-35yr age bracket.

After checking with Progressive, State Farm, and Geico, I went with Geico and I pay $63/mo or $756/yr now with roughly the same coverage but the plan is more tailored to what I would need.
 
#9 · (Edited)
I'm 51 and in NJ. I have 3 cars, my house, an umbrella policy and my 899 all through Allstate. With all the discounts for multi-policy, antilock brakes, easy-pay, and pay in full, I pay $344 per year for full coverage. When i first got the bike in January 2015 I was paying over $1100 per year through Progressive. Allstate gives big discounts for having multiple policies. All together they saved me about $1700 per year over my previous insurance.
 
#10 ·
Insurance is about liability, not the cost of the vehicle. That pales in comparison to health-care claims. Be mindful of Rider, as they dropped coverage for track days, and have in general significantly raised their rates. I've been with StateFarm for years, and found they're the best of the worst when it comes to support/coverage/costs.
 
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top