howmuch to insure a 500cc bike?

# Thread: howmuch to insure a 500cc bike?

1. ## howmuch to insure a 500cc bike?

when i had my CB450, it cost me \$60/month for insurance for 12 months with 45% discount (\$1 million 3rd party + \$300 deductible comp and coll; declared value \$800).

my question is: if i bought a 500cc bike, would it cost the same to insure, because they are in the same insurance bracket?

2.

3. question: how do you get 45%? i thought 43% was the maximum?

and no, it will probably not be the same. insurance is calculated depending on a variety of variables,.. engine size is just one of them. declared value is pretty important.

4. yes, not 45%...43% is what i have.

so with a 450 and a 500, variables that are equal are: size of engine, same 3rd party and same deductibles...only difference would be declared value. my old 450 was about \$800 and the 500 would be \$6000. being that that is the only variable different, would that greatly increase the insurance premium?

i know that i can just call an insurance place on monday, but i'm trying to convince a friend to start riding and the sooner i sway him, the surer he'll be to get a bike.

5. yea, the 500cc bike is in the 400cc - 600cc class.

cost to insure is also dependant on other variables. Call a insurance agent and ask.

the higher declared value will also affect how much you pay as well.

6. I think (correct me if I am wrong) from 401cc to 750cc
is under the same insurance bracket, but the declared value
makes a huge difference.

You declared your CB450 at \$800. You should declared at \$100.and not bother getting the collision & comp.
If I declared my 02 F4i at \$800. I'll also be paying \$60. a month.

Whatever bike you are buying, look at the ICBC black book price before you put down a declared value.
Say you bought a 500 Ninja for \$6000. and the ICBC black book listed that bike for \$5000. you'll not be getting \$6000. back even if you declared at \$6000. but you ended up paying premiums on \$6000.

7. yes, there is a lot of other stuff they add into their "calculator" to give you your rate.

i'm surethey have records on how long you have had your class 6 and how many other bikes you have insured before that and such... someone correct me if i'm wrong but icbc will charge newer riders/drivers more than seasoned ones? also, i think age plays a role? like if you're under 25 then you will pay a premium?

8. Here's the insurance brackets by displacement. As you know, a lot of bikes arent exactly the displacement that the even number says either.
Engine displacement 110 cc or less 111 to 400 cc 401 to 750 cc751 to 1150 cc Over 1150 cc Mine's a 749cc bike. Funny that I'm in with a CB450 or an EX500 for the base rate. All I know is that my girlfriend's Ninja400 was dirt cheap to insure last year.

While I was at it, here's a document with a lot about rate coverage with a bike.
http://icbc.mondosearch.com/cgi-bin/...cement#Page=67

9. Originally posted by Kamui
yes, there is a lot of other stuff they add into their "calculator" to give you your rate.

i'm surethey have records on how long you have had your class 6 and how many other bikes you have insured before that and such... someone correct me if i'm wrong but icbc will charge newer riders/drivers more than seasoned ones? also, i think age plays a role? like if you're under 25 then you will pay a premium?
That's more the way that private insurance companies work. The way I understand it, ICBC works like this for motorcycles:
Basic: displacement, type of use, area ridden
Comp/Collision: Declared value, type of use, area ridden
That's the rate and then your discount/surcharge is applied to that.

10. Why don't you just call an autoplan agent ?

11. Originally posted by Brendan
Why don't you just call an autoplan agent ?
NO SHIT it's like asking I have a tickle in my throat, and when I cough I spit up blood, Do you think I have throat cancer ?

I don't think I would waste time asking for estimates and opinion's on here.......I'd be headin to the Doctor's where I can get an answer from a person in that field of work.

Not to bash anyone, but it just seem's to be a bit of a silly question when you can jus pick up the phone and ask a professional, and have a rock solid answer in a matter of minutes.

12. Originally posted by CB450
i know that i can just call an insurance place on monday, but i'm trying to convince a friend to start riding and the sooner i sway him, the surer he'll be to get a bike.

13. D'oh !
Sorry.

14. definitely the declared value will affect the overall price. I have a buddy who rides and is an insurance agent. He can answer any questions you might have. If you want his number just pm me.

15. Originally posted by BF
NO SHIT it's like asking I have a tickle in my throat, and when I cough I spit up blood, Do you think I have throat cancer ?

I don't think I would waste time asking for estimates and opinion's on here.......I'd be headin to the Doctor's where I can get an answer from a person in that field of work.

Not to bash anyone, but it just seem's to be a bit of a silly question when you can jus pick up the phone and ask a professional, and have a rock solid answer in a matter of minutes.

but isnt the point of a forum so someone can learn stuff from other people who already know? Why not instead of taking hte time to bash the guy help him, sorry but its always been a pet peeve of myne when people actually take the time in a forum to tell someone "You shouldnt ask here, go somewhere else"

16. Originally posted by philtag6000
I think (correct me if I am wrong) from 401cc to 750cc
is under the same insurance bracket, but the declared value
makes a huge difference.

You declared your CB450 at \$800. You should declared at \$100.and not bother getting the collision & comp.
If I declared my 02 F4i at \$800. I'll also be paying \$60. a month.

Whatever bike you are buying, look at the ICBC black book price before you put down a declared value.
Say you bought a 500 Ninja for \$6000. and the ICBC black book listed that bike for \$5000. you'll not be getting \$6000. back even if you declared at \$6000. but you ended up paying premiums on \$6000.
Maybe I should tell my friend to declare his 02 F4i for \$1000 so he can save \$\$\$\$ for beer.

BTW, where I can get the ICBC black book or have a peek so I know how much to declare in March?

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