Insurance went up, after paying $3400 for the first season

V

veno78

Well-known member
Forum Sponsor
Before I even bought my bike, I talked to a Statefarm agent and she told me my first year would be expensive because I had no previous insurance history. She also said after the first year, premiums would drop significantly because I would have "insurance history"

So I paid $3400 for the first year and now I get a renewal letter it has raised to $3500.
If I do get insurance for this coming season, that'll be $7000 in 2 seasons for a 11 year old SS. (1mil, liablity only)

Anyone's rate drop after their first year of having insurance?
 
holy crap... are you 16 with a 2001 Ducati Desmosedici? That's a lot of money...
 
+1 what Splash said.

Start calling around and get other quotes.
 
State farm does not drop rates due to experience.
There rates drop when you have had your license for 5 years and again when you are 25 and thats it.
I walked in the day I got my M1 with no safety course and the told me $71/month (With other vehicle with them) for a 600SS (G for 10 yrs and over 25).

I believe Jevco would be your best bet as they lower premiums with experience.
 
boooya said:
You need to do some serious shopping around, and tell State Farm to go pound salt.
Age?
Bike?
Click to expand...

SF rate based on the CC of the Bike and number of minor tickets and accident (Its a sir chanrge for each one) + additional discount for having a car with them
They dont take into account experience or training.

So theoreticly the insurance for a 25 year old with a M1 new on a 600CC sport bike will be the same as a 40 year old with a full M for 20 years on a 600cc sport bike .

Assuming ticket and history and any additional SF product they have are the same.

So unless you have tickets that expire the only way to get a lower renewal with SF is for them to drop the rates, or get a lower CC of bike or bundle your car with them.

Sound like your agent did not know how there insurance works.
 
i would call around...SF went up for me after being with them for a few years, no tickets, nothing, just went up...now i'm with jevco i believe and paying under $1K again...insurance is sneaky, every time it renews i call around and see what there is...
 
veno78 said:
22 with an F4i
Click to expand...

That does not seem right... did they make you buy and life insurance product with that?

Assuming you have a clean record you should not be paying over 1500

Im 26 and had a ticket or two and with my Katana (Same cc so same price) its 1000 and change.

Oh but your 22 there big discount is at 25.. so could be correct..but either way your statefarm rep lied to you as they dont take experince into account on their insurance.
 
Two50noob said:
That does not seem right... did they make you buy and life insurance product with that?

Assuming you have a clean record you should not be paying over 1500

Im 26 and had a ticket or two and with my Katana (Same cc so same price) its 1000 and change.

Oh but your 22 there big discount is at 25.. so could be correct..but either way your statefarm rep lied to you as they dont take experince into account on their insurance.
Click to expand...

Nope, they didn't offer life insurance. Would it be cheaper with it?

I have one ticket (coming off this August) and one at fault accident (4yrs ago)
Two Statefarm agents told me they do not count one accident if it has been more than 3 years.
 
boooya said:
Do some shopping around, thats high. Do you have any tickets?
Click to expand...

Yeah I will look around but there's not too many options for riders under 25.

I have one minor ticket but I was told that by Statefarm that one minor ticket would not raise my rates.
 
TD (primmum)?
veno78 said:
Yeah I will look around but there's not too many options for riders under 25.

I have one minor ticket but I was told that by Statefarm that one minor ticket would not raise my rates.
Click to expand...
 
wow.. dont know what to tell you dude sry. Gotta pay to play i guess :(.
veno78 said:
TD's only good if you're over 30 years old. I tried, and it's $5xxx per year
Click to expand...
 
For TD, try one of the university/college discounts.
TD has consistently been cheaper for me compared to SF and Jevco, even though i was <25
 
Get a smaller bike. With the rates you're paying, you can probably buy a used bike and afford insurance for a year for the price of 1 year worth of insurance for your current bike
 
You must log in or register to reply here.
Back
Top Bottom