Motorcycles - You need to be rich... or have a trust fund. | GTAMotorcycle.com

Motorcycles - You need to be rich... or have a trust fund.

usdm_b18

usdm_b18

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How do you guys afford to pay 3000+ dollars a year for motorcycle insurance on a 600 SS?

I keep trying to get my head around the super high cost of ownership for something you can only use 6-7 months of the year. Is there something I'm missing?

That seems like a ton of money. What do you people do, because whatever it is, I want to do it as well!
 
1. You do not have to ride 600SS
2. It is not unusual for young driver to pay 300$ insurance per month for basic car
3. Most people do not pay that much, age, experience, no tickets, multiple insurance lines all help
4. Yes, it is not cheap no matter what you ride


usdm_b18 said:
How do you guys afford to pay 3000+ dollars a year for motorcycle insurance on a 600 SS?

I keep trying to get my head around the super high cost of ownership for something you can only use 6-7 months of the year. Is there something I'm missing?

That seems like a ton of money. What do you people do, because whatever it is, I want to do it as well!
Click to expand...
 
I pay $850/year for full coverage on my 600SS
Much better then a bus pass for the same price :D
 
If you're young (under 25 i assume) then don't get a 600ss unless you do have money to burn, if you don't get something else. Too many people want supersports just to be cool, or because they think it's what everyone else thinks is cool, not saying that's you, but in general i mean. There are plenty of alternatives, no matter what you ride it will still get you where you want to go, any bike over 250cc can travel at highway speeds, nobody truly needs anything more than that.
 
I'm only 23 and I pay $1500/year on my r6...
 
600's are cool
I'm 25 and paying $800/year for a gsxr600. Try SF and move ur car over to them
 
daisoman said:
600's are cool
I'm 25 and paying $800/year for a gsxr600. Try SF and move ur car over to them
Click to expand...

There is something up with this.

No way a 25yr old pays $800/yr for a 600cc bike with SF and lives in Brampton. Even with a clean record.

I paid over 2x that with a 500cc bike from the 80's.

You must have mutliple policies with them (more than 2) or have it registered in another city. (or it;s under your parents names)
 
My parents and I have 3 cars and house and life with them. Clean record. Had been with them since I was 16 and I have my m2 for 3 years with full g for at least 5 years.

Cars are under parents names but bike is under mine.

I know hard to believe but that's what I'm paying
 
I guess part of my point was - at 3000 bucks, if you do the math, that's:

4050 pretax at a 35% tax bracket or
4200 pretax at a 40% tax bracket...

Any tax rates under that and you're fundamentally spending more than 10% of your total yearly income on insurance....

....


....

That's nuts. I hate insurance companies
 
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I just heard of someone being sued for $7,000,000 after an accident.
True that the insurance company is only in for $1,000,000 or maybe even less, the insured is on the hook for the $6,000,000 balance (thus why you need your own lawyer for these things), but do the math.
It would take the insurance company over 33 years to break even for that one accident.
 
usdm_b18 said:
I guess part of my point was - at 3000 bucks, if you do the math, that's:

4050 pretax at a 35% tax bracket or
4200 pretax at a 40% tax bracket...

Any tax rates under that and you're fundamentally spending more than 10% of your total yearly income on insurance....
Click to expand...

And you're spending it on a luxury or play item. Can you hear the violins playing out in the distance?
 
DucatiDan said:
Who actually has insurance anyway?
Click to expand...

For those who are new to the internet or don't detect jokes very well, DucatiDan is joking. At least I hope he is. :D
 
so basically everyone is saying that im going to be on my 250 until im 25? cuz when ive called about a 600 sport touring or 650 insurance still hasnt liked me too much, it would be my second year. so its 250 until 25? or does anyone no something i dont. im 20 and live in brampton and this spring is my second season.
 
When I was 23 with a fresh m2 my zx6r was $120ish/month. Check SF and if you have a car put it with them also.

But yeah 20 to 23 probably makes a big difference
 
Although you may be the only person born that can start on a litre bike, obey all traffic signs, speed limits and never crash for the next sixty years. The insurance companies don't know that yet.

It's like a credit rating, you need to develop a good history to show them that you are capable of moving up.

In the meantime many others before you have proved your assertion wrong, costing myself and others millions of dollars in increased premiums. In other words you need to pay your dues for a couple of years, and rightly so.
 
slowbird said:
There is something up with this.

No way a 25yr old pays $800/yr for a 600cc bike with SF and lives in Brampton. Even with a clean record.

I paid over 2x that with a 500cc bike from the 80's.

You must have mutliple policies with them (more than 2) or have it registered in another city. (or it;s under your parents names)
Click to expand...


I checked into this with SF... Although my "Bike insurance" would be 800... my "car insurance" would be 1000 more expensive than my current provider. So I only have my bike with them... $1500. (600ss)
 
usdm_b18 said:
I guess part of my point was - at 3000 bucks, if you do the math, that's:

4050 pretax at a 35% tax bracket or
4200 pretax at a 40% tax bracket...

Any tax rates under that and you're fundamentally spending more than 10% of your total yearly income on insurance....

....


....

That's nuts. I hate insurance companies
Click to expand...

Is there a point to this post. If you want to ride a 600SS pay the price. If you want yourkid to play AAA hockey, pay the price. If you want to travel the world, pay the price. If not move on.

Helicopters cost $5 000 000.

I hate helicopter manufacturers.
 
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