Webmaster's personal experience:
Update (9/07/01):
A couple of club members told me about State Farm,
so I checked them out, and sure enough, they're cheaper than Allstate! For the exact same coverage, my rate is $411 for the year -
a savings of $313.80!
If I were to switch my house and both cars to State Farm, the motorcycle would have cost only $279.40,
but my house & car insurance would have gone up slightly, resulting in less of a savings.
Previous experience:
When I shopped for motorcycle insurance in 1999, Allstate
offered the best rates for my '98 ZX-11. Well, my rates went up in 2001, due to an increase in the surcharge
on sportbikes, so I did a little research on how I could lower them. Here's what I found out (this is all based on Allstate):
| - | The surcharge (which I assume is insurance-company-specific) is based somewhat on engine displacement: | |
| » | For 2001, my '98 ZX-11 (1052 cc) cost me $725 to insure | |
| » | A '01 R1 or GSXR-1000 would have cost me $462 (for the same coverage as my ZX-11) | |
| » | That's a difference of $263 annually, and for a newer bike! All because the ZX-11's engine displacement is greater than 1000 cc's | |
| - | Some sportbikes are not (yet) on the surcharge list: | |
| » | A '01 TLR-1000 would have cost me only $154 for the year!!! | |
| - | Having taken a Motorcycle Safety Foundation course within the last 3 years will reduce the cost a bit. | |
| » | In my case, by $52 (or about 7%). | |
| - | Becoming a member of the American Motorcycle Association ($39 annual membersip fee) will also reduce the cost a bit. | |
| » | In my case, by $23 (or about 3%) | |