19-20 year old, M1, GSXR 1100 Insurance?

[GixxerKid123]

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I don't really know if this is a stupid question, I own a 1993 GSXR 1100 that I originally bought just to sell but have been working on and was starting to wonder if it is even possible for me to ride it come spring time next year, problem being I'd only have an M1? I have 2 minor speeding tickets on my licence (both car, no points, 14 over i think). I've also been reading about "liability" only insurance and haven't looked into it but it's probably what i'll end up doing as it's the least expensive option I've been told? Any information is useful to me as i'm completely new to motorcycle insurance in general, thanks.

 

[hedo2002]

I don't really know if this is a stupid question, I own a 1993 GSXR 1100 that I originally bought just to sell but have been working on and was starting to wonder if it is even possible for me to ride it come spring time next year, problem being I'd only have an M1? I have 2 minor speeding tickets on my licence (both car, no points, 14 over i think). I've also been reading about "liability" only insurance and haven't looked into it but it's probably what i'll end up doing as it's the least expensive option I've been told? Any information is useful to me as i'm completely new to motorcycle insurance in general, thanks.

Well the only REAL way to know is to call around and get quotes. But here are some things that will go against you getting an "affordable" rate:

Your age;
the type of bike you have;
M1; and least of not,
2 minor convictions on your licence already.

Yes there are no points but that is only for MTO a conviction is a conviction when it comes to insurance. Even with just liability, your premium is likely to be more than the bike is worth.

Plus your options are going to be limited you can forget State farm (you don't meet their licencing requirements) and Allstate, (you don't meet their age requirements).

 

[TwistedKestrel]

Despite it being 22 years old it's still considered an SS. Insurance is gonna be easily more than the bike is worth

 

[Iceman]

I'm guessing you'll get quotes around $5000/year. No joke.
Sell it, buy a 250, you'll pay $2500 or so.
But I'm not in insurance, call around see what happens.

 

[PrivatePilot]

I was personally in almost the exact scenario when I last rode 25 years ago (short of the two convictions) and even with a clean record I was paying north of $400 per month for just liability. I exceeded my purchase value of the bike in < 6 months, but I was young and stupid with a big disposable income so I had my fun...but looking back on it, it was rather silly.

With everything against you, particularly the two convictions, I'd have to agree with others that you are firmly into facility territory at easily north of $5K/year, possibly drastically more.

But as others have also mentioned the only way to tell for sure is to call around and ask for quotes – there is a great flowchart stickied in this forum that will steer you in the right directions, but be prepared for sticker shock.

And all that said, it doesn't cost anything to get quotes, so if it's a dream that you can financially afford, take it from somebody who's "been there done that"… It might be worth chasing.

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