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Discussion Starter #1
I am picking my bike up on Saturday and I wanted to have the insurance card so I got the VIN from the dealer and then went to add the cbr300 to my gieco motorcycle policy. They quoted me 300+ for 12months full coverage. I currently pay 300 a year total on the other four bikes with full coverage. So i get them to adjust the coverage down to 250 a year. Then they call me back to tell me the underwriting said the cbr300 a performance bike or something like that and is will be 450.00 a year. Still with all my other bike at $300 total a year with the same coverage. So I get a quote for the CBR300 from progressive for $270 12 months full coverage and paid for it. I felt like forwarding this video to the underwriter so they could see the big bad performance bike I am buying

cbr300 - YouTube
 

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Just imagine what they'd quote you for full coverage on a CBR600RR, or a CBR1000RR. :eek:
 
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It just doesn't make sense to me my 67 500cc Daytona has over 40hp my 70 cb350ssk2 has 36hp and has the super sport designation right on the title and my 2014 RE GT 535 has 30hp. Also, that the cbr300 is one of the cheapest motorcycles around.
 

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I'm assuming that you don't carry collision or comprehensive coverage on your older bikes (I don't carry either coverage on any of my bikes). Those coverages are the most expensive part of a full coverage policy, particularly collision coverage. And yes, the CBR300R is classified as a sport bike. If you compared insurance premiums for comp/collision on the CBR300R, with a similar sized Dual Sport, the D/S bike would be a lot less to insure. In fact, some larger Dual Sports (like the Honda XR650L, for example) would cost less to fully insure than a 250/300 sport bike. When I bought my '94 XR650L new, it replaced the '85 Yamaha RZ350N I had at the time... the yearly full coverage premium for the XR605L was almost half the cost of what it was for the RZ350N. Interestingly, those two bikes had about the same stock horsepower ratings.

Insurance companies use many different factors when rating a particular motorcycle... horsepower/engine displacement is but one factor that goes into calculating their 'risk' assessment. Probably the biggest assessment factor is where a particular type or model of bike falls in terms of national crash/claim statistics... I'd have to believe that 'sport' bikes are the largest category as far as claims go. And all of those bike specific rating factors are calculated before the age, driving record, and zip code of the owner/operator are factored into the premium quote.
 

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Discussion Starter #5
I guess it is me and becuase I don't consider a bike that can just barely exceed 100mph a performance bike. I guess I have to live with the stereotype the insurance company assigns to it.

However, I bet my 67 triumph daytona will wipe the floor with the CBR 0-60 and if I took the sidecar off the 70 cb350 it would do the same. The thing is the CBR has the brakes and handling so it should be a much safer bike, just saying. I realize that Ins companies pool all riders and their machines to come up with the price but the 450 GIECO tired to charge me was ridiculous and for progressives quote to be almost half of that there has to be a screwed up underwriter at GIECO to come up with $450. Interesting enough my BMW 325 all wheel drive wagon has full coverage and is about $450 a year too.

BTW - same coverage on all my bikes, collision and comprehesive on everything.
 

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I wouldn't want your motorcycle insurance bill... I self insure all of mine as far comp & collision, and liability only on the street legal bikes. I can understand having full coverage on your newest bikes, as well as on the T100R and the CB350K2... but the '82 XL185S? That bike isn't really worth a whole lot of money, even if it were in like new showroom condition.
 

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Discussion Starter #7
The Xl185 is nostalgic thing for me and only $60 a year for comp and collision, how could you not take that. It is around 300.00 total for all 4 bikes and $270 for the cbr300 alone. $570 total for all 5 bikes
 

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I wouldn't want your motorcycle insurance bill... I self insure all of mine as far comp & collision, and liability only on the street legal bikes. I can understand having full coverage on your newest bikes, as well as on the T100R and the CB350K2... but the '82 XL185S? That bike isn't really worth a whole lot of money, even if it were in like new showroom condition.
Mike whats the story on self insuring? I'm really not too familiar with that...
 

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welcoem to the site Jkilla. I wonder if you're also getting dinged because there is no insurance data for CBR300 yet. Because of the rename its essentially a new model. You should see if you can find out what the numbers are on a CBR250 that might give you a clue to if they're simply quoting from a bare data pool...
 

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Mike whats the story on self insuring? I'm really not too familiar with that...
Well basically it means that I'm taking all the risk myself in terms of damage/loss to the bike. I'm still using an insurance company for liability coverage on my street legal bikes. In my state, vehicles that are titled and registered as off road are not required to carry liability insurance.
 

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Discussion Starter #11
welcoem to the site Jkilla. I wonder if you're also getting dinged because there is no insurance data for CBR300 yet. Because of the rename its essentially a new model. You should see if you can find out what the numbers are on a CBR250 that might give you a clue to if they're simply quoting from a bare data pool...
I think that is what may have happened with GEICO, they had the CBR300 listed as a 2015 cbr250ra on my quote because the VIN did not return a listing for the bike , and I pointed out that it isn't the proper name of the bike. At this time I had a quote of about $250 but 15 minutes later they call me back and it is suddenly the chief underwriter increased it to $450 and I said no way. May be I will try another quote with GEICO in 6 months rather than go through the hassle to change all my bikes, car and home over to Progressive so I can take advantage of their multi-policy and multi-vehicle discounts.
 

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My wife and I have our vehicles insured through USAA/Progressive... my yearly motorcycle policy (liability/UIM coverage on 3 bikes) went down by $100 with USAA/Progressive, from $250 with Geico, the company I previously had my bike insurance with. Despite Geico wanting to keep me as a customer, they couldn't come close to matching the USAA/Progressive rates.
 

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The Xl185 is nostalgic thing for me and only $60 a year for comp and collision, how could you not take that. It is around 300.00 total for all 4 bikes and $270 for the cbr300 alone. $570 total for all 5 bikes
Something is wrong. I pay $270 from Progressive to cover my 2012 Can AM Spyder RTS (last year when I bought it new)... and I live ind N. VA.

How many miles did you tell them you will ride it per year.

That said, I pay next to nothing for all of my old bikes. My 84 CB700SC is $84/year... hard to believe the CBR is going to run $270/year.

Jerry
 

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Discussion Starter #14
Something is wrong. I pay $270 from Progressive to cover my 2012 Can AM Spyder RTS (last year when I bought it new)... and I live ind N. VA.

How many miles did you tell them you will ride it per year.

That said, I pay next to nothing for all of my old bikes. My 84 CB700SC is $84/year... hard to believe the CBR is going to run $270/year.

Jerry


I estimated 3,500 miles a year. The thing about the 300 to me that insurance doesn't realize it is a sheep in wolves clothing. The bike handles so well and doesn't have enough power to scare you but I think the insurance company views it as if it was a super sport with over 600cc, which can make your heart skip a beat.




MotoMike is most likely right about it being so new that insurance doesn't know how to rate it yet but I think there is a stereotype about the style too
 

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I estimated 3,500 miles a year. The thing about the 300 to me that insurance doesn't realize it is a sheep in wolves clothing. The bike handles so well and doesn't have enough power to scare you but I think the insurance company views it as if it was a super sport with over 600cc, which can make your heart skip a beat.




MotoMike is most likely right about it being so new that insurance doesn't know how to rate it yet but I think there is a stereotype about the style too
Fair enough, but it only has about 30 HP... 30!!!!! How much trouble can you get into with that many beans. It takes a while to get up a head of steam.

I think with the weight and suspension (if set up right) and brakes (with a few adjustments) might let you keep the speed up in turns, but you are not going to burn up the asphalt. I think that is the fun factor of the bike as it seems riding a lightweight bike fast is more fun than riding a heavy (but potent) slow[er].

Jerry
 

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Just curious....would the naked CB300F be classed w/ the sport bike CBR300R?
anyone have any insurance comparisons between these two bikes?
 

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I am picking my bike up on Saturday and I wanted to have the insurance card so I got the VIN from the dealer and then went to add the cbr300 to my gieco motorcycle policy. They quoted me 300+ for 12months full coverage. I currently pay 300 a year total on the other four bikes with full coverage. So i get them to adjust the coverage down to 250 a year. Then they call me back to tell me the underwriting said the cbr300 a performance bike or something like that and is will be 450.00 a year. Still with all my other bike at $300 total a year with the same coverage. So I get a quote for the CBR300 from progressive for $270 12 months full coverage and paid for it. I felt like forwarding this video to the underwriter so they could see the big bad performance bike I am buying

cbr300 - YouTube

Crazy. Insurance companies can be a law unto themselves :( .


It cost me less than £13.00 / $20.00 to add my 300 to an existing policy with 4 months remaining insurance and there was no administration charge either :)
 

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Insurance charge such unbelievably high rates they could be termed as predators. I have Progressive, within two years I will have paid enough to purchase another Honda CB300f. Needles to say I'm looking for cheaper insurance. These morons said because it is a sport bike. A sport bike? It's a 300cc single cylinder thumper. Hardly on the same level as 600cc crotch rockets. C'mon man it's only a 300.. Can everybody chimein on their experience with the insurance wolves. I am afraid to say how much Progressive has raped me for...
 

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yes, progressive insurance terms it a sport bike. that's right a 300cc sport bike...hardly. IMAGINE HOW MUCH INSURANCE IS FOR A SUPER SPORT BIKE...
 
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