[Auntyg112]

Insurance company called me yesterday and told me
That my new 2014 Honda CTX700 is considered a
High performance sport bike and they are going to
Increase my insurance from $158.00 per year
To $1500.00 per year !!! That is crazy ! Has anyone
Else had this issue ? I live in Florida .

 

[Kfrill]

Ummm. You will have to disabuse them of this infomation. I got a much lower quote from AARP/Formost. Even State Farm is lower. They must be looking at the wrong bike on their screens. Everyone agrees that the CTX700 is NOT a sport bike. Much closer to the NC700X. Sounds like they were looking at a CBR SuperSport not a CTX. I would shop around or call them and get clarification on the exact model they quoted you from.

 

[Thumper]

I agree with Kfrill! I live in Florida and although I have not insured this bike yet (gotta take possession first), I insure others that are bigger for much less. It probably is not showing up on their computer screen as a model yet. I had this problem with the Kawasaki Versys when it first came out. They tried to charge me for a much bigger motorbike. If you can get the ID number off the frame, maybe that will help them.
I am with Progressive now after Statefarm was charging me way too much for 15 years. I don't even want to go into that mess!

 

[Kfrill]

AARP/Formost had the CTX700N in their system when I called last week.

 

[Harald]

I agree with Kfrill! I live in Florida and although I have not insured this bike yet (gotta take possession first), I insure others that are bigger for much less. It probably is not showing up on their computer screen as a model yet. I had this problem with the Kawasaki Versys when it first came out. They tried to charge me for a much bigger motorbike. If you can get the ID number off the frame, maybe that will help them.
I am with Progressive now after Statefarm was charging me way too much for 15 years. I don't even want to go into that mess!

I'm sure insurance rates will be different depending on where you live and your credit rating, etc. I've been with Progressive for a few years now also because they are the best price for my 2 bikes.

I have an insurance broker who shops around all the insurers at renewal time and he tells me that Progressive is still the best deal. BTW, he's not beholded to Progressive because he's got me at GMAC for my cars/truck and Fidelity for homeowners insurance.

 

[TWIN]

Insurance company called me yesterday and told me
That my new 2014 Honda CTX700 is considered a
High performance sport bike and they are going to
Increase my insurance from $158.00 per year
To $1500.00 per year !!! That is crazy ! Has anyone
Else had this issue ? I live in Florida .

Drop them. What company are you with?

 

[WaveCruiser]

Are you serious? I would call around and see what the other insurance underwritter would quote you. Maybe they have the wrong bike details. It's a fairly new bike but that is a serious mistake to make.

 

[CorbanDallasK]

There is no way that the Honda CTX700 is classified as high performance sport bike. I would say it is closer to a sport touring bike. Although $158 a month is not bad but an increase for that matter is stupid. i would speak to a higher ranked representative.

 

[Statorcade]

I'm sure insurance rates will be different depending on where you live and your credit rating, etc. I've been with Progressive for a few years now also because they are the best price for my 2 bikes.

I have an insurance broker who shops around all the insurers at renewal time and he tells me that Progressive is still the best deal. BTW, he's not beholded to Progressive because he's got me at GMAC for my cars/truck and Fidelity for homeowners insurance.

If that is what they are going to do then drop the policy and go somewhere else. Harald has a good suggestion an insurance broker would shop around for the best insurance rate for you. Why don't you try to give that a go.