State Farm Insurance Rating for bikes
May 13, 2010 at 6:38 pm #3957eonParticipant
Presumably other companies will have similar ratings. Interesting comparison on how they rate bikesMay 13, 2010 at 11:25 pm #26418eternal05Participant
I love how completely statistics-based everything is. For instance, despite having much more power than the KLR250, the KLR650 has much lower insurance premiums. Presumably that means that State Farm has, over time, paid very little in claims money to KLR650 riders and therefore has assumed that they are a less-risky bunch. Similarly, the Ninja 250 has higher premiums across the board than the Ninja 650. I think, once again, that this is because a) Ninja 250 => new rider, and new riders crash, and b) if you wanted to get a 600+cc machine and DIDN’T get a Kawi ZX-6R instead of the Ninja 650R, you’re probably a tamer and less-risky individual. Maybe?
Another funny case: the Ducati 1098R is a $40,000 supersport bike. While it has an E (highest possible premiums) rating for collision as you would expect, it only has a B rating (lower-than-average premiums) for liability. Most other supersports have E ratings across the board. I guess that makes sense, because in the event of a crash, it’s going to be super expensive to repair, and will cost the insurance company a great deal. However, somebody riding $40,000 of their own money is less likely to be pulling stand-up wheelies on the interstate, so they’re less likely to incur liability charges against others. Or have I misunderstood something? I might be mixing up my insurance terms.May 14, 2010 at 3:56 am #26426CBBaronParticipant
Based on those ratings I’m guessing those are modifiers on some other numbers.
I don’t quite figure out the TW200, DR200, XT225 and KLR250 as being C ratings while the DR650 and KLR650 are A. And I know my Ninja 250 was quite cheap to insure. So I have to guess that is a modifier on other parameters like displacement, power, price, etc. some or all.
But perhaps I am wrong, maybe bikes like the DR KLR and 650R do cost less to the insurers than TWs and XT225. I just don’t believe it.
CraigMay 14, 2010 at 5:27 am #26428CommonbearParticipant
I currently get my motorcycle (and renter’s) insurance through State Farm. I’m now wondering if my premiums will go down if I go with the bike upgrade I am contemplating. I’ve a V-Star 250 currently (rated B, B, C it looks like) and am looking at a Boulevard S50 (rated A, A, A). My yearly premium for comprehensive coverage is about $160.May 14, 2010 at 6:06 am #26429eonParticipant
I would say it’s definitely a modifier to some other number. I’m sure age, profession, location, married and all sorts of other factors come into play, as well as more generic bike numbers. But it is interesting how one bike compares to another. It appears the type has a strong influence on the ratings. Unclad Sports seem to do well but any Super Sport and it’s bend over time. I’m surprised at the Harley Davidson ratings which on the whole are pretty damn good. You have the stereotype of bar hopping pirates and/or noobs buying too much bike yet the ratings are below industry standard. Even the v-rod gets a B,A,A?
Unless we are missing something important that jacks the rates for a v-rod way up and these ratings are comparing it to other 150hp bikes. Then I could understand the B,A,A rating.May 15, 2010 at 6:37 am #26467eternal05Participant
Your ’06 250 might be cheap to insure (did you buy it new or used?), but when I bought my new ’08 250R during winter of ’07, it was NOT cheap to insure. I’m paying $1000 less per year with the same company for better coverage of my DR-Z400sm than I was paying for crappier coverage of my Ninja.May 15, 2010 at 11:51 am #26468stuParticipant
sweet. My SFV650 is ACA, the wifes Virago535 is not listed but the Vstat 650 is AAA…
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