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Hey guys, I'm currently on my RE's (which is a restricted Queensland licence in Australia). I'll be getting my Dragster in 6 months and about to put a deposit down on one cause I'm am head over heels in love with it. My question is however how you guys find your insurance costs? I currently ride a Honda CB500F and it costs peanuts. Not that costs are going to stop my purchase but I'm trying to work out what I'm getting myself into! :p
 

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Hi mate good one on getting into the MV scene after racing and riding jap bikes all my life I got myself a B3 and love it warts and all. Ring around if it's not a daily commuter or you intend riding it only a couple times a week you can get okay deals ,try Shannon's, Swann insurance , but make sure you read the fine print on any deal to avoid being shafted.
 

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In NZ I was surprised to be paying virtually the same as I was for my FZ1 Fazer that is worth less than half as much. My Fazer insurer wouldn't insure an MV - just their rules. Pretty glad they made me shop around! :)
 

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Yeah thanks lads, I called my current insurer, QBE which I only pay $35 month for premium full comprehensive insurance. They quoted me $108/ month, which is pretty pricey. I'll definitely be shopping around a bit. Thanks for the advice I'll try Insure my ride, Shannons and Swanns.
 

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Give us some more info. Location, age, etc. For example, I'm 20, in LA, and have 1 speeding ticket. I pay $109 for full coverage from State Farm. Do a ton of shopping. I got quoted anywhere from 1200-8000 a year.
 

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Yeah I'll give more info once I call other insurers, but;
its a low risk area, always garaged, I'm 27, 2 speeding tickets in the last 3 years, 5 years with no insurance claims, Only rider, Daily use
 

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assuming youre in the states...I found that by far the cheapest were state farm and AAA. AAA will give you a discount for having in garaged. Theyll also give you a huge discount+dividends after the first year (mine would have dropped over $500 after the first year). State farm turned out to be cheaper for me. But be warned! I called state farm on a wednesday and got a quote for 1000 a year. Went to bind the policy at the dealer on sunday. They had to start a new quote since I spoke with another agent. Premium changed to 370 a month! They eventually changed it to 180 a month. But they told me that it goes off to the underwriters and could triple after the first 5 days of coverage. I told them that was absurd and got them to send my policy to underwriting without binding it. They came back two days later with a fixed quote for 109 a month. I bought the bike the same day.

Moral of the story...if you have time before getting the bike then ask for the quote to be checked by an underwriter before you bind. Could save you from a huge financial issue.
 

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I'm in NZ, mid 40s, good history, garaged, they didn't seem too interested in tickets. Paying $750/annum (about US$650), but could probably get that down to $650 if I shopped around some more.
 

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I'm in NZ, mid 40s, good history, garaged, they didn't seem too interested in tickets. Paying $750/annum (about US$650), but could probably get that down to $650 if I shopped around some more.

So there are some benefits to living in the UK then, same details as you, just re insured mine for the equivalent of just over $200 of your NZ dollars. There are dozens of insurance brokers here in the UK so the competition for your business is very high :)
 

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So there are some benefits to living in the UK then, same details as you, just re insured mine for the equivalent of just over $200 of your NZ dollars. There are dozens of insurance brokers here in the UK so the competition for your business is very high :)
Blimey! Are you sure that's per year? How can they afford to repair/replace any bikes - does no-one ever crash over there? Still NZ$700 is still a lot better than the thousands they seem to pay in the States.

Actually, I don't know what the bikes cost over there, but it looks like the US are a bit over half what they cost here (about NZ$23k for basic B3 800). So if yours are similar to the US, it's no wonder premiums can be a lot less.
 

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Yep £106.70p of your British pounds for the year :)

Retail price here is £9700, there is no basic option now as the bike comes as standard with ABS and a quickshifter, which equates to something like $19,250 NZD but import taxes for you etc may sway that cost further?

Mine is insured to a value of £7500 thought as it's a year old now and an insurance company will only give you market value for it if you claim so insuring it for what I paid for it new is pointless, it's also on a limited milage policy of 4000 miles per year as it's for pleasure only and not commuting to work but they don't actually ask for the milage at the start of the insurance so how can they check?

Maybe you lot are a greater risk on the road ;) There are also 16 times as many people here in the UK so thats a lot more of us paying for motor insurance?
 

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No import taxes, but Goods and Services Tax (GST) of 15% would bring your price to just over $22k. Interesting what you say about the 'basic' version, as they didn't have any in stock here, so they sold me a fully specd one for the same price (normally $2k more). I'm kind of pleased they did as I'm quite enjoying the quick shifter.

I wonder how much effect the limited mileage option has on your premium?
 

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Not much difference I don't think, they all ask as a lot of people use them for pleasure only, they also ask if you have use of another vehicle (ie car driver) so charges are your not going to ride in the rain or snow so decreasing your chances of an accident ;)

If you can still get basic ones here in the UK then they are unsold 2013 models as those options are now standard on the bike now hence the £700 price increase over what mine cost me.
 

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I was quoted by State Farm here in Pessyltuckey at under $300 a year for new Dragster.
I am 57, good record 3 other bikes insured.
I decided againstthe Dragster as I can't ride all my bikes enough already1

Ed :)
 

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Ed,

Be very cautious with State Farm. I had them quote me $109 a month on my B3 800 only to have them decide two weeks later that it was being raised to $370 per month even after they told me my $109 was fixed and not going to change.
 

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I pay QBE 112 a mth for the B3 800 in Aus.
What you have to look at, is when you need to claim (and let's face it, we all know it's when not if) how much BS are you going to go through.

I stacked mine last Tuesday. Called QBE last Thursday, they had bike picked up and assessed and have started a total loss claim in space of a week.

Read each of your quotes TandC carefully and fully. I read a few that had very cheap premiums and loop holes the size of elephants for the insurance mob to get out of paying.

You also need to check your excess. Mine is 600 for a brand new bike, in a single vehicle incident.
Cheap premium might have very steep excess.
 
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