Do older bikes have cheaper insurance rates?

flameboy182

flameboy182

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Would a 1998 Kawasaki Ninja 500R be cheaper to insure than a 2009 Kawasaki Ninja 500R?

I apologize in advance if this is a newbie question that has been asked before.
 
definitely as if they did have to pay you out it would be for less money, As for how much cheaper I would have no idea.
 
only if you chose to opt for collision i would think...
 
flameboy182 said:
Would a 1998 Kawasaki Ninja 500R be cheaper to insure than a 2009 Kawasaki Ninja 500R?

I apologize in advance if this is a newbie question that has been asked before.
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In my experience yes but not as much as you would think...

Last year I was quoted $160 on a 2003 SV650S or $180 on a 2010 SV650S..
 
Invariably yes, older bikes have cheaper insurance.

Drop collision, theft, fire, so you have less insurance, costing you less. Older bikes are usually worth much less than newer bikes.

It is less likely that someone will target a 1998 Ninja 500, vs a newer bike. The beater, the cheaper.
 
My First bike was a 1990 zx6 Insurance was only $599 a year. A newer model would have been 4 times more.

No collision or theft / fire.

If its your first bike go with a beater. At least you won't feel so bad when u inevitably forget to put the kickstand down and drop it.
 
Some older bikes are SS but are not SS surcharged, not sure of the cut-off year, others here will know off hand.

In the future as things like ABS and traction control become very common we may find that new bikes have better rates in some areas. My guess is we are a few years off that...
 
Thanks for the quick and helpful replies everyone!

This gives me much more confidence when time comes for me to choose my first bike. :)
 
If you are purchasing Collision and Comprehensive coverages, then there will be a pretty big difference between an old and new bike of the same make/model. If you do not purchase Collision/Comprehensive, then the difference will mostly be in the DCPD premium (a mandatory coverage which is pretty low $$$ to begin with).

FYI, 1995 and older SS bikes do not have a 425% surcharge with Jevco and many other insurers. In effect, a 1996 bike of the same make and model of a 1995 bike could end up costing you about four times the premium.
 
Thank you for that information. I'll keep that in mind when shopping around for a quote.

Although it seems tempting for me to get an older bike to save on insurance I figure that the repair costs from the additonal wear-and-tear on something from the mid-90s might might just negate any money saved on insurance. I just turned 25 this year and am getting my M2 soon so I think at this point in the season that I will probably just let it wait a year or so until I rack up that one-year experience necessary to get a further discount on my coverage.
 
flameboy182 said:
Thank you for that information. I'll keep that in mind when shopping around for a quote.

Although it seems tempting for me to get an older bike to save on insurance I figure that the repair costs from the additonal wear-and-tear on something from the mid-90s might might just negate any money saved on insurance. I just turned 25 this year and am getting my M2 soon so I think at this point in the season that I will probably just let it wait a year or so until I rack up that one-year experience necessary to get a further discount on my coverage.
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My suggestion is to buy an older Ninja EX250 with lower mileage and to insure is for mandatory coverages and Comprehensive only (i.e. skip on the Collision). I wouldn't be too concerned about repair costs, as the Ninja 250 parts are pretty cheap and the bikes are very reliable.
 
There can be at least $2000 difference in premiums between a new and older supersport. That's a lot of money to cover any mechanical problems.
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