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L.A Area!! Am i Paying Too Much For Insurance??

6686 Views 11 Replies 9 Participants Last post by  ferntr33
ok so i recently got my 2014 white 899 as a gift i am 20 y/o with no M1 license only have my car license i looked everywhere for insurance they were all quoting me at around $350 a month some were $9,000 premium a year some insurances didn't even want to cover me so i ended up going to state farm which was the best quote i got but i am not sure if i am still paying a lot for insurance i got LIFE insurance and FULL Coverage Insurance for $185 a month with $500 deductible what do you guys think?? and how much do you guys pay??
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hey I'm not in la but I'm in nyc. I'm using USAA pretty much minimum coverage is 800 a year but if i add fire and theft protection it jumps up to 8000 a year. it wasn't a fluke either cuz i tried gieco, allstate, state farm. all of them were like this. i believe its cuz of how expensive the motorcycle is and its treated at the highest class so by adding fire and theft protection on it the price sky rockets.
really i have never heard of that insurance.... but wait your paying for just minimum coverage as in liability? or full coverage u got me a little confused sorry.. and as for your age? and having motorcycle license?? because a lot of people say that age and not having motorcycle license matters alot?
USAA is for veterans only. yea thats minimum coverage in liability. i am 27 and have a motorcycle license. its a bit high for me cuz i have a few speeding tickets........
Wow, must be your age. I have Geico, 38 years old with a 2013 848 Evo and 2014 899 Panigale. My annual premium is only $1,197 with 500 Comprehensive 1000 Collision. If I ever got quoted that much, I would have to reconsider owning a bike...geez!!!

Oh and I live in Norcal...near San Francisco
wow thats super good man i know right well it was a gift haha cant say no to something that beautiful thanks for the info ��
First of all, go get your M1 license. You're not legally licensed to ride an 899, let alone a scooter, in the State of California. Perhaps that will help lower your insurance rates.

With a class C (car) license, all you can legally ride is a three-wheeled motorcycle or a motorcycle with a sidecar. Motorcycle Handbook License Requirements

Take MSF, pass it, and you can waive out of the riding test for your M1.
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I'm in Southern California. I have an 899 Panigale, scrambler and monster all insured with Allstate. I have comp and collision with $250 deductibles. And $1000 extra coverage for non factory installed parts (exhaust, fender eliminator etc). I pay $1400 per year for all the bikes combined. I'm 33, married, good driving record and also insure my car and renters with them. Have MSF discount as well. Also, I have estimated 1k miles per year on each bike. All of these factors go into what you will pay for a premium. I noticed that the swing is ridiculous based on who you call. Others quoted me up to $5k per year...
That insurance is crazy high!

But, there are a few factors insurance companies use to determine rates...I think these are the primary ones

1. Your age, most 20 somethings under 25 aren't very mature and wreckless (not that you are)
2. Geographic location... LA seems like a place where a lot of bikes are easily stolen, chopped, and sent off (they prob have a lot of claims from your area and probably pay out a lot of claims in your area, they're just playing the odds in their favor)
3. Your credit history

The odds are that a 20 something doesn't have good credit, you live in a high risk area and has a better chance of getting your bike stolen rather than someplace like Fargo, ND, and riders under 25 tend to have more accidents.
I guess it's good to be old in this case... I just got my 899 last Saturday, and got a full coverage with 500/1000 deductible for $950. I'm 42, married, with no ticket on record. I got my M1 license 15 years ago. I'm in Northern California.
Up your deductible. Would you really make a claim for less than $1k in collision damage?
my driving record blows for the next 2 years. progressive wanted $14k for me. I went with some small company and pay $2k now. you can get cheap mim insurance for $100 a year if you get it from a company that doesn't pay for marketing. but their service isn't a top tier. Im in LA as well.

anyways. higher deductible means higher rates. lower credit score means higher rates. tickets and accidents means higher rates. zip code means higher rates. young age means higher rates.

obviously if bike is financed you need $500 deductible for comp and collision. i would do liability only on a new 899. just cause it can get stolen (comp coverage)
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