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Discussion Starter · #1 ·
I am interested in purchasing the CTX700 as my first bike for commuting to and from work (30km). How much would insurance cost for a bike like this? Is it better to get full coverage or just liability? Any suggestions would be greatly appreciated.
 

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I am also planning on getting the CTX for the same reason. Not sure what your cash flow is like but I would ABSOLUTELY get full coverage on your first bike.. I am for sure. I hope they don't jack up the cost of the insurance, this bike is not a sports bike. After I get a chance to sit on it to see if it fits the bill I will then see about getting quotes. Would be intersting to see what people say who have went through this step.
 

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Your premium will depend on a lot of things like your area, your age which bike and the displacement. And even in some case some insurance companies assess it differently. So the best way to come about it is to just call around and shop for the best rate.
 

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Discussion Starter · #4 ·
Yah thanks. Living in Canada, our insurance is thousands of dollars a year compared to ppl who live in the states. I hope it won't be too much.
 

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I pay about $80 for my honda cb400 so I can't imagine the insurance on a CTX700 would be that different. But however there is an increase in the displacement so it might be just a little more than that amount.
 

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I just got a quote from AARP/Formost on one and it will be about $519 annually.
 

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I just got a quote from AARP/Formost on one and it will be about $519 annually.
That sounds pretty high to me. I would shop that around (I get a great rate on 5 motorcycles with Progressive).Make sure they are giving you a quote on the right bike. I have found insurance companies to be pretty bad about getting the right bike, especially on brand new bikes that have just come out.However, (not asking your age) but I am 61 yrs young and have a perfect record so maybe that is the difference.
 

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I think it because I have a lot of coverage, kinda maxed out. I checked Progressive and they were higher. Also I don't have a fully enclosed garage, just a parking lot. Texas has a higher theft incidence, and I have only been riding for 2 years. Gonna look at lowering the coverage and see how that affects the premium. I have a clean driving record for over 7 years.
 
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I did the same thing when I shopped my insurance around. I cut back on some things and raised the deductible. On several bikes I only carry the basic since they are older and paid off. I also, picked up a third party towing which was much cheaper than what the insurance company charged.
Good luck, I hope you can get that lowered.
 

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My State Farm agent just told me it'll run around $300 a year for my coverage, which is about in-line with what my 2007 Honda VT750C2 cost (full coverage). State Farm does not extend their multi-policy and multi-vehicle discounts to their motorcycle policies, or else it would be a lot less.
 

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I asked my wife (she pays the bills) and we pay $1700 a year on 5 motorcycles. We have Progressive. Not sure what the new bike will cost yet but we will probably drop premium coverage on a couple other bikes with miles on them to compensate for full coverage on the new bike.
Age and driving record have a huge influence on what they charge. Also, here in the States, if you took a Motorcycle Safety class, you get a discount for that too.
 

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I keep a $1000 deductible. That keeps my rates down, and, in a way, it's almost pointless, especially the way the bikes depreciate quickly. But with insurance, I kind of get only what I think I can live with. I can live with paying the first grand and after it depreciates below about $2K book value, I'll probably drop full coverage. I don't like giving those guys more money than I have to every six months. It's a risk benefit kind of thing, and I go a little on the risky side.
 

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I currently pay $130/year full coverage with $250 ded for my '08 Vulcan 500. I just sent a note to my agent to find out how much it'd be for this new CTX700N. I know it'll be significantly more, but hopefully no more than about $300 or so.
 

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insurance from Geico

I am trading in a 2004 VFR with 50k on it tomorrow or Friday on a red CTX700N. Geico charges me 322.00 per year for 100k/300k personal liability
and 50k property damage Plus I have towing and theft and comprehensive.

same coverage on the CTX rated by them as a cruiser is 140.00
my discounts are 5 yr good driver and plus I have had my license 45 years.
 
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