View Full Version : Super Sport 600 Insurance
I've been looking at how much it is to insure a SS600, and its a bit odd.
I can insure a GSXR600 for around £285, but a an R6, ZX6R, CBR600RR, Daytona 650 all cost around £450. For ref my SV comes out at about £185. All FC.
I'm under the impression that they are all pretty similar in terms of value, performance and desirability to a thief, so why the big difference?!
the_lone_wolf
10-03-09, 08:41 AM
I've been looking at how much it is to insure a SS600, and its a bit odd.
I can insure a GSXR600 for around £285, but a an R6, ZX6R, CBR600RR, Daytona 650 all cost around £450. For ref my SV comes out at about £185. All FC.
I'm under the impression that they are all pretty similar in terms of value, performance and desirability to a thief, so why the big difference?!
cause nobody would steal a GSXR:o;)
insurance risk also takes into account the cost of repairs and the cost of the vehicle when new, which may favour the suzuki
either that, or a particular insurer specialises in suzukis and happens to match your risk profile with theirs...
TheNinj1
10-03-09, 09:25 AM
I tried official Suzuki insurance for my SV, came to about £6000. So i bought from BikeSure for the best price (for me)!
Also, depends on your area. If the insurers you quoted from have had previous claims from riders of the other bikes, they become higher risk and more expensive.
Also, what years were these bikes? All relatively new?
the_lone_wolf
10-03-09, 09:38 AM
oh, my own opinion of insurance companies is that they have a large random number generator, and a multiplier for when you tell them you're under 25
see my own thread on insurance (http://forums.sv650.org/showthread.php?t=124941)
keith_d
10-03-09, 10:05 AM
oh, my own opinion of insurance companies is that they have a large random number generator, and a multiplier for when you tell them you're under 25
Step 1 - calculate risk of accident based on claims database for age and bike
Step 2 - multiply by average claim size including processing costs
Step 3 - repeat 1 and 2 for theft
Step 4 - add in overheads for marketing, call centre etc.
Step 5 - ADD A HUGE AMOUNT TO HELP COVER THEIR INVESTMENT LOSSES
The big insurers generally have a huge pile of money invested in the markets to cover contingent liabilities (the risk of claims). That includes shares in banks and other industries whose share prices have tanked recently. So to rebuild their asset/risk profile all kinds of premiums will be shooting up (well it's that or reduce profits :mad:).
Maybe I'm just being pessimistic, but that's what I'm expecting.
Keith
Ceri JC
10-03-09, 10:14 AM
Step 1 - calculate risk of accident based on claims database for age and bike
Step 2 - multiply by average claim size including processing costs
Step 3 - repeat 1 and 2 for theft
Step 4 - add in overheads for marketing, call centre etc.
Step 5 - ADD A HUGE AMOUNT TO HELP COVER THEIR INVESTMENT LOSSES
The big insurers generally have a huge pile of money invested in the markets to cover contingent liabilities (the risk of claims). That includes shares in banks and other industries whose share prices have tanked recently. So to rebuild their asset/risk profile all kinds of premiums will be shooting up (well it's that or reduce profits :mad:).
Maybe I'm just being pessimistic, but that's what I'm expecting.
Keith
+1. For certain types of insurance (breakdown recovery for example), steps 1-4 cost more per year than the total amount collected in premiums. The way they make the profit is by investing the money collected for premiums. In the current financial climate, they won't be able to do this with any certainty, so expect your premiums to go up instead.
All bikes were the same age and value, but if I change it from newer bikes to 2005 ish models then its still the same. The 2004/5 ish bikes seem to have about 20bhp less as well?
Are the insurance groups of the GSXR / R6 / ZX6R the same?
I know insurance is based on statistics, it just seems odd that the GSXR is so much cheaper because it at least appears to present the same risk as the other bikes.
yorkie_chris
10-03-09, 12:23 PM
All bikes were the same age and value, but if I change it from newer bikes to 2005 ish models then its still the same. The 2004/5 ish bikes seem to have about 20 claimed bhp less as well?
Are the insurance groups of the GSXR / R6 / ZX6R the same?
I know insurance is based on statistics, it just seems odd that the GSXR is so much cheaper because it at least appears to present the same risk as the other bikes.
;-)
I wasn't any slower on SRAD than on a 06 plated kwacker.
Im quessing your a lot older than me for me gsxr600k4 fully comp cheapest qoute is £2794.81 , a £2000 price increase from my SV XD
I'm 25, will have 1 years ncb and a quite friendly post code.
suzsv650
10-03-09, 01:56 PM
2002 R6 and i pay £400 fully comp.
minifun
10-03-09, 02:04 PM
I pay just under £100 for my GSXR600 and my WR250F on a multi bike policy....only third party fire and theft though!
suzsv650
10-03-09, 02:06 PM
I pay just under £100 for my GSXR600 and my WR250F on a multi bike policy....only third party fire and theft though!
Age?
minifun
10-03-09, 02:07 PM
Sorry - 29 - been riding 8 years and full no-claims! I think I'm getting old! When I had my first SV 8 years ago I was paying nearly £1000!
timwilky
10-03-09, 02:08 PM
My gsxr6 costs £130 comprehensive including breakdown,legal and riding other bikes. there are few advantages to being an old b'stard. So might as well enjoy the few we do get.
philbut
10-03-09, 02:12 PM
Hmmm, I am 26 1 year NCB and pay £280ish with breakdown TPF&T for a ZZR600 and ZX7R. I thought I had quite a good deal but lookign at some of those quotes I'd say maybe not.
suzsv650
10-03-09, 02:15 PM
I got 5yrs NCB and the 6 had datatag and alarm on the car i pay £650 chuffing stupid!
I tried official Suzuki insurance for my SV, came to about £6000. So i bought from BikeSure for the best price (for me)!
Also, depends on your area. If the insurers you quoted from have had previous claims from riders of the other bikes, they become higher risk and more expensive.
Also, what years were these bikes? All relatively new?
£6000 ? kin ell, how old are you ?
TheNinj1
10-03-09, 05:40 PM
19, with 2 years ncb
That's very odd...I'm 19 with zero no claims and my insurance with Suzuki is only just over £1000.
captainsmelly
10-03-09, 05:49 PM
I've just been playing around, pretty much any ss600 will cost me about 430 pounds fully comp. The SV will cost 340 with the same start date. Soooo tempting...
Sadly an SP2 is a grand and a half. Damn!
edit I'm 25, with no real experience so I wouldn't even dream of a big h*nda mmmmmmmm
TheNinj1
10-03-09, 05:58 PM
That's very odd...I'm 19 with zero no claims and my insurance with Suzuki is only just over £1000.
Yeah, that was the most extreme quote I had.
I actually paid about £450 for full comp, and am insured to ride other bikes (with owners permission). I'm happy with that.
I'm 25, will have 1 years ncb and a quite friendly post code.
I'm roughly the same as you except 2 years NCB and no convictions.
I expect I will be paying around £500 Fully comp on my 600rr next month.....possibly nearer 600 if I decide to go with carol nash for the european cover and breakdown cover.
I've no really looked into my renewal just yet so maybe I will get it cheaper than I'm expecting.
diamond
10-03-09, 06:12 PM
Insurance is a funny thing, i'm 31 have 5 points 2 accidents, only 1 year NC and ride a duacti 749s. I purchased insurance this morning. One quote was £1080 and another was £157, thats a huge difference. If i add fizz who has points but no accidents it goes up by about £120.
When i added him on the car it went down, go figure.
BanditPat
10-03-09, 07:05 PM
I got a quote on an R6 and that was just over £600 quid the rest of them GSXR, ZX6R etc were all 100 quid more expensive. On my bandit the cheapest was 204 quid but i paid closer to 260 because my bank card was broke and i couldn't before i got the new one and i wanted to use it on the day so i went to an office in town and paid the extra. on an SV650 I get the insurance at 420 and a DL650 Strom was 480. They dont make sense.
kwak zzr
10-03-09, 07:23 PM
everyones different, everyones circumstances are different, you'll never understand insurance.
petevtwin650
10-03-09, 07:41 PM
edit I'm 25, with no real experience so I wouldn't even dream of a big h*nda mmmmmmmm
You have to be really old before you can dream of a H*nda :p
Traditionally gixxer 6's have always been a group lower than the other 600s. Bizarre, as their riders are generally acknowledged to be the maddest.:p
Alpinestarhero
10-03-09, 07:42 PM
You have to be really old before you can dream of a H*nda :p
but i want a vfr and im not 23 yet
kwak zzr
10-03-09, 07:42 PM
Traditionally gixxer 6's have always been a group lower than the other 600s. Bizarre, as their riders are generally acknowledged to be the maddest.:p
you take that back young man!! :rolleyes:
yorkie_chris
10-03-09, 10:26 PM
You have to be really old before you can dream of a H*nda :p
Traditionally gixxer 6's have always been a group lower than the other 600s. Bizarre, as their riders are generally acknowledged to be the maddest.:p
Of course they all started on REAL gixxers with double cradle frames and oil cooling...
Maybe cheaper because lots of SVA's with no pieces of rider left over at the end big enough to make a claim?
vBulletin® , Copyright ©2000-2025, Jelsoft Enterprises Ltd.