Insurance Insanity - Kawasaki Ninja 1000 Forum
 5Likes
Reply
 
LinkBack Thread Tools
post #1 of 29 Old 07-10-2019, 09:19 AM Thread Starter
Senior Member
 
Join Date: Apr 2016
Posts: 529
Insurance Insanity

When I first got my N1K, I was a little surprised at how much insurance was, especially for such a low value(cost wise) moto. I know there's more to it than that, but it's still absurd. I did somewhat expect this from what I read on various threads here, but damn it's still too high. This is far from my first moto too. Been riding for over 13 years now.

My problem is it's still very high all these years later. No tickets(lucky I guess?) or points, no accidents, and I'm 36. Been with Geico for over 7 years now too. This is the only vehicle I've ever owned that didn't start dropping after a few years of ownership. 6 month premium is $680, and that's without collision. Collision would pretty much double it. Is there something I'm missing here? I know Cali is on the high side, but I also know there's cities and states that are far worse. I love this bike, but I'm sick of getting reamed so hard on insurance on a sport touring moto. I did a few online qoutes, and a ZX10R, for comparison, would cost less. WTF? I may just have to dump this thing and get something cheaper to insure. Paying this much was fine for a bit, but it isn't going to work with my plan of ditching this state and getting a house. This thing is only worth about $5K tops in the market, so paying this much in insurance really doesn't make any sense. /rant

Has anyone's premiums dropped by a large amount after owning the N1K for a few years, or does just stay expensive forever? Has anyone in Cali had any luck with other providers?
novaks47 is offline  
Sponsored Links
Advertisement
 
post #2 of 29 Old 07-10-2019, 11:03 AM
Senior Member
 
Join Date: Dec 2015
Location: SE TN
Posts: 4,657
Novak’s give dairyland insurance a call, mine is 300 per year, they was the cheapest I could find.

2012 N1000 spark bl and gray ABS
Tail tidy
Urban brawlers
V/h DB killers sitting on the shelf collecting dust
Givi rack and topcase
Puig smoked wind screen
oem gel seat set
Rascal grafiks tank pad
Grip puppies
SW Motech ninja 1000 quick connect gps mount with navi bag
2014 air filter and holey bottom plate
Go Cruise Throttle lock
Ivans ECU flash
Bridgestone S21's
Mark59 is online now  
post #3 of 29 Old 07-10-2019, 11:10 AM
Junior Member
 
Join Date: Nov 2018
Location: Debary, FL
Posts: 25
Garage
The insurance for this bike is ridiculous and I suspect that might be the reason they don't sell well, new or used.
When I first started shopping around, I passed on this bike because there was no way I was paying $1000+/yr to insure a bike. I only bought it because dealer dropped price to point I could pay cash and not need full coverage.

I do have a motorcycle accident on file from 2018 but full coverage on the Buell 1125r was only going up $300ish/yr and still just over half the cost of the Ninja ($1452).

Liability and roadside for Ninja 1000 ($268) = 3x Buell 1200 or 1125R with Progressive (Auto for 18 yrs; motorcycle for 5 or 6 yrs).

I do like the Ninja but very unlikely I would replace it with another. FZ1, FJ09, BMW K1300, etc.
RobertL is offline  
Sponsored Links
Advertisement
 
post #4 of 29 Old 07-10-2019, 11:29 AM
Senior Member
 
OCLandspeeder's Avatar
 
Join Date: Dec 2018
Posts: 300
$113/month is what you pay.

I pay $115 for 3 bikes, 2 are N1k's. But I'm 52 years old. I do have one moving violation.

As a Financial Analyst I've learned to evaluate costs on a "total picture" perspective, as opposed to focusing on only ONE aspect. I look at the whole scenario of how much are my living expenses. How much is your Iphone costing you? Your cable TV? Internet? Rent? Car insurance? Starbucks runs? Dinners on weekends? Etc., etc., Then measure your enjoyment of each one. Decide what to adjust based on that. And go after the BIG costs first. Cutting out little things for only marginal gains in costs savings is not a wise financial decision.

For example, if simply cutting Starbucks coffee and eating out at a restaurant, could easily pay your bike insurance. And it would be great for your health. Starbucks coffee is way overpriced and overrated for burned coffee. LOL!
agurudev, skootin and Ninja Raven like this.
OCLandspeeder is online now  
post #5 of 29 Old 07-10-2019, 11:48 AM Thread Starter
Senior Member
 
Join Date: Apr 2016
Posts: 529
Quote:
Originally Posted by OCLandspeeder View Post
$113/month is what you pay.

I pay $115 for 3 bikes, 2 are N1k's. But I'm 52 years old. I do have one moving violation.

As a Financial Analyst I've learned to evaluate costs on a "total picture" perspective, as opposed to focusing on only ONE aspect. I look at the whole scenario of how much are my living expenses. How much is your Iphone costing you? Your cable TV? Internet? Rent? Car insurance? Starbucks runs? Dinners on weekends? Etc., etc., Then measure your enjoyment of each one. Decide what to adjust based on that. And go after the BIG costs first. Cutting out little things for only marginal gains in costs savings is not a wise financial decision.

For example, if simply cutting Starbucks coffee and eating out at a restaurant, could easily pay your bike insurance. And it would be great for your health. Starbucks coffee is way overpriced and overrated for burned coffee. LOL!
Precisely what I'm doing. Rent is the biggest, but nothing I can do about that. It's either pay $600/month to family, or apartment for $2k+ a month. So that stays, until I get a house out of state lol. Next is insurance. I pay the same as my Ninja, for two cars and a van! Absurd. The cars are reasonable given annual mileage, value, etc.

As for the rest, I rarely eat out, and have no habits such as coffee or seeing movies or other frivolous things. Cell bill is nothing, $35/month, no contract. I love riding and love the N1K, but it's just too much money for insurance. Definitely going to shop rates. I'm doubtful I can do better though, as Geico was always the lowest by a wide margin for me. Who knows, maybe I'll get lucky. I still can't get over that it hasn't dropped over time.
novaks47 is offline  
post #6 of 29 Old 07-10-2019, 11:59 AM
Senior Member
 
Rickifumi's Avatar
 
Join Date: Jul 2018
Posts: 390
California's DMV registration renewal for my 2018 is $201.

I'm with OCL entirely on the rigorous cost versus benefit analysis: over the years I developed a pretty substantial liking for meal deliveries...now that was a very bad (and extravagant) habit.

Last edited by Rickifumi; 07-10-2019 at 12:04 PM.
Rickifumi is online now  
post #7 of 29 Old 07-10-2019, 12:25 PM
Senior Member
 
Join Date: Dec 2015
Location: SE TN
Posts: 4,657
You got a point olc, I could make payments on a new bike for what my cell phone bill is for 2- phones, could make payments on another bike for what cable and internet cost. Dang I remember growing up with a outside tv antennae and no such thing as cell phones lol

2012 N1000 spark bl and gray ABS
Tail tidy
Urban brawlers
V/h DB killers sitting on the shelf collecting dust
Givi rack and topcase
Puig smoked wind screen
oem gel seat set
Rascal grafiks tank pad
Grip puppies
SW Motech ninja 1000 quick connect gps mount with navi bag
2014 air filter and holey bottom plate
Go Cruise Throttle lock
Ivans ECU flash
Bridgestone S21's
Mark59 is online now  
post #8 of 29 Old 07-10-2019, 12:37 PM
Senior Member
 
cooldaddygroove's Avatar
 
Join Date: Jun 2017
Location: Vancouver Canada
Posts: 460
Quote:
Originally Posted by Rickifumi View Post
California's DMV registration renewal for my 2018 is $201.

Does that include collision and at least $1million 3rd party liability? That's still high if it does, $2400/year.


Living in Vancouver, we have the highest rates in Canada. Converting $CAN to $USD, my insurance with collision, theft, 12 month storage insurance, and $1million 3rd party liability costs about $1260/year $USD.


Luckily, we only insure up here for 6months of the year, so cut that number in half
cooldaddygroove is offline  
post #9 of 29 Old 07-10-2019, 12:55 PM
Member
 
agurudev's Avatar
 
Join Date: Jun 2019
Location: Bangalore, India
Posts: 64
Garage
Thank god, Indian insurance companies are not still looking at all those things. Here it is a straightforward deal with the premium being paid against the vehicle IDV. They are collecting information from the last couple of years but not yet applying rules based on age, accident history, married or not, etc.

The Ninja here is about 18750 USD for a new one and that includes first year insurance. Renewal is about 300 USD for a year.

Ride hard, ride safe.
agurudev is online now  
post #10 of 29 Old 07-10-2019, 01:05 PM
Member
 
Join Date: Jul 2016
Posts: 54
I’m in the same band wagon, owned a 2014 and the only happiness for selling the bike was not paying the $1300-1400 annual insurance. I just got a mother quote for 2014 and it was the same.... even a 2020 BMW s1000rr M package was cheaper to insure! I remember when I called fairyland a couple years ago they wouldn’t I sure CA bikes... not sure if it’s still the case.

There are two entities that I rip us all the most, the insurance companies and The Banks ... and I work for the latter!!
DarenLine is online now  
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Kawasaki Ninja 1000 Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in













Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome