What is compulsory insurance cost your CB1100 in your country.

[syncronizator_imp]

Of course the cost deppends on many factors....age, accident history... et cetera.
Can You share compulsory insurance cost in your country?
I mean basic insurance cost which allow You to drive on public roads.

In my country Poland i must pay all year insurance.
It cost me 160złoty (around 40 US dolars) per 12 months.
What about US and Canada?

 

[Gone in 60]

In the U.S., minimum requirements that all drivers must carry are determined state-by-state. In California, the minimum liability coverages are:
$15,000 for injury/death to one person.
$30,000 for injury/death to more than one person.
$5,000 for damage to property

As far as what these coverages cost, it depends on the insurance company, and factors such as:
Driver age and driving record
Location of vehicle
Type of vehicle (age, engine size, etc)

There are a ton of other factors which are determined by each insurance company.

 

[syncronizator_imp]

Hi,
I understand that You mean the person medical insurance.
I am asking rather about motorcycle insurance.

 

[the Ferret]

What Gone was saying is motorcycles ( and autos) must carry those limits of liability as required by the state he lives in. I' m not sure what the minimum is in the state I live in, because I have never priced minimum covrrage for my vehicles.

If you cause a serious accident where the damages exceed those limits, you can be sued and forced to cover additional damages from your personal possessions, such as savings, personal property, future earnings, etc.

 

[Cormanus]

syncronizator, I think Gone in 60 has answered the question you asked. In California, at least, the compulsory insurance cost varies depending on the company providing the insurance, the type of motorcycle, driver age and record, plus other factors.

In Australia, all states require vehicles to have compulsory third party insurance. That covers injury to people in motor vehicle accidents. Again, the cost varies state by state. In Queensland, where I live, my CTP premium in 2019 was A$320.60. That’s around US$220. There is no requirement to carry insurance for damage to your own or others’ property.

 

[KiowaEagle_imp]

Gone is talking about motorcycle insurance. In the US most states require you to carry Liability vehicle insurance as a minimum which includes the minimum requirements Gone has listed. As he mentioned it varies from state to state. If you insure more than that it's called Collision or Comprehensive insurance which covers your vehicle as well.

The last bike I had just Liability (minimum coverage) on was my 92 Kawi and it cost me $75 per year for comparison. I'm in Pennsylvania.

 

[Gone in 60]

To explain, the only compulsory insurance that needs to be carried in California by a car or motorcycle driver covers the property damage and bodily injury that that person would create if they caused an accident.

As far as carrying insurance to protect damage to your own motorcycle, that is not a state requirement. However, if you have a loan on a motorcycle, the bank that owns it will require that insurance is carried to protect the bike, which would be called collision (what happens to the bike when it is in an accident) and comprehensive (covering theft or damage not created by an accident). If the owner of the motorcycle doesn't voluntarily purchase insurance to protect the bike, the bank will put their own policy on the bike to protect it until the loan is paid off. These costs are paid by the bike owner paying the loan.

It is not uncommon for people with older bikes, or bikes that are paid off and are not particularly valuable to not have insurance to cover the bike itself. If the bike is wrecked and another party was not at fault (such as a single vehicle accident), there would be no coverage.

Hope that answers your question. I can only answer to California, having been in the insurance business in this state.

 

[tinboatcapt_imp]

Many of the US states require coverage for medical as part of the vehicle insurance. My state, Minnesota also required medical insurance for any passenger. Other available coverage is for crashes where you are injured by another driver who doesn't have insurance or very little.

Basic insurance for my three motorcycle with two covered riders is less than $200.00 US. I am old, have a clean driving record, and I don't insure the replacement of the machines. I just cover the liability and required medical parts.
jim

 

[syncronizator_imp]

Ok understand. Thx for explanation.
In my Country, I do not need to have any other insurance purchased (than basic) to travel around Poland and other European Union countries. The price is set by the insurance company and I can't increase it.

All other insurance may be or may not to be purchased.

 

[Cormanus]

I suspect the difference between countries like Poland and Australia on one hand and the USA on the other, is that, in the US, the amounts of liability are set and the market decides how much each person pays for them. In Australia anyway, our CTP covers persons injured in motor vehicle accidents irrespective of the total cost. We have to buy the insurance but the only number we hear is the premium.

 

[peterbaron]

Premium in Canada as well, at least in my case, despite of no accidents for decades...
Mostly GTA/Toronto area is paying for the rest of the province of Ontario = big rip off of all insurance companies
GO will chime in, I am more than certain

 

[LongRanger_imp]

Gone perfectly explained California (and Colorado) requirements. The amount of liability and property damage coverage that I purchase exceeds the state requirements. My cost is approximately $30 per bike per year. I choose not to purchase comprehensive or collision coverage, which covers damage, theft, etc., to my bikes, since it is not required. For these risks, I elect to self-insure (which means I pay for motorcycle repairs or replacement myself, should I choose). For my two cars, however, I do purchase comprehensive and collision coverage, in addition to the required liability and property damage coverage, and it costs about $2400/year for both vehicles.

 

[zbillster_imp]

In Collin County, Texas (cheaper than Dallas County) my CB1100 with minimum liability plus some uninsured/underinsured coverage came to $145 for 12 months paid in full. Progressive does their rates based on number of years of experience riding (me, over 10 years). Mature adult, no claims (cough) at the time.

I added $25K medical coverage for the last couple months of my policy (about $100) ... which, unfortunately, I ended up using.


On a side note, the Vepsa (when I had it) was only about $70 a year for the same coverage.

Kawasaki Z900RS that I was drooling at was substantially more (over $200).

 

[Cormanus]

Given only things I've read on this forum, it seems to me $30,000 per person may not get you all that far in a bad accident.

 

[tinboatcapt_imp]

My crash this spring set my regular health insurance carrier back a bit over 20K US $. There were some additional costs not covered. They were minor by comparison.

That was for the titanium reinforcement of one broken collar bone, a dinged up elbow, and a hand, and a concussion. So a serious list of injuries will substantially exceed 30K US $.
Jim

 

[GoldOxide_imp]

Premium in Canada as well, at least in my case, despite of no accidents for decades...
Mostly GTA/Toronto area is paying for the rest of the province of Ontario = big rip off of all insurance companies
GO will chime in, I am more than certain

Sure. Vehicle insurance varies greatly across Canada and is based on claims and fraud statistics. As indicated by PB, the Greater Toronto Area (GTA, Ontario) is likely the highest in the country. No surprise: Toronto area commands the major chunk of drivers in the country (analog to LA or NYC regions of the 'merica). In contrast, Alberta province pays almost half the premium of an equivalent Ontario driver.

Rates in the GTA are essentially outright gross. In Ontario the minimum coverage required is the liability portion. All else is optional.

Liability breaks down into:

1) Bodily Injury
2) Property Damage
3) Standard Accident Benefits

Item #3 commands the lion's share of the premium.

By law, the minimum coverage in Ontario is $200,000 Cdn. It is very common for average drivers/riders to carry $1,000,000 coverage. If travelling often to the U.S. $2,000,000 coverage is not unusual (because it is a popular perception that 'mericans love to sue).

In terms of motorcycle experience, and the bike (yes, the actual machine) determines the bulk of the premium. Items said by other Forum members also may factor in. How they link an idle machine to your ability to ride safely is beyond me. I suspect insurance companies bet that riding a BMW S1000RR will be statistically less safe than a Honda Forza scooter. Truth probably is if you can afford a S1000RR, you can afford the premium too. In any case, there is a gouge factor in play in Ontario.

All said, I reckon the premium range for a rider owning a late model CB1100 in Ontario with only $1M liability coverage (because many insurance companies won't offer less coverage, or will but with very little cost savings) might be $400 to $2800 Cdn per year. Again, experience and location plays an important role in Ontario.

- - -

Now, you want collision, comprehensive, etc? Add that to the premium.

 

[Essilaia_imp]

I pay my insurance company $ 500 a year, sometimes more and sometimes less

 

[michael1954]

Here in Texas, the least you can pay is for Liability, but only if you own the bike outright. If you are making payments to a 3rd party, then you must pay full coverage. I will look later to see how much that is, since I keep full coverage on all my bikes, regardless of who ownership belongs to. One good thing about multiple bikes, I only pay about $7 to $11 a month for Full coverage on my old bikes I am restoring. The insurance company gets you on the newer bikes or the one that is your main bike of travel.

 

[Roper_imp]

So many variables--age, driving experience, make/model of bike, use of bike, zip code, marital status, insurance company, etc. I go through AARP, which contracts with Foremost. The minimum allowable coverage for where I live is just over $100/year. I added lots of additional coverage and customized my plan to stay within my goal of $365/year--1$/day. Here's what I found interesting: To go from $50,000 to $100,000 on certain things was less than $20/year. To lower deductibles from $500 to $100 was hugely expensive, but to go from $500 to $200 was about $10/year. I spent about an hour figuring everything out using the online quote tool, then called the company to finalize. The actual rate was even less than the quote, because the agent gave me a veteran's discount which wasn't on the web site. AARP FTW! There are definite benefits to being old