Did some offroading with my bike yesterday..

[OneSickPsycho]

Originally Posted by TIGGER

Aha! Something I know a little bit about. Insurance rates are based on "actuary(sp) tables". Basically,they take the exact vehicle,the type of person,the area of the country and plug it in to get the rate.

First vehicle info; you're right that popularity plays a role in determining a vehicle's rate index. The more there are,the more claims. They take the number of claims (coll and comp)involving a particular vehicle against the total number of claims. Obviously,if there are more of a vehicle,there'll be more claims. Suvs have a very high incidence of roll overs and are involved in a great number of fender benders. Probably due to distracted parents. Note: when I first got my 'Busa,the ins. rate was approx. half that of a GSXR600 because it was listed as a "sport tourer" and the number of claims were low.

Second personal info; age,driving record,single/married,dependents,credit report,etc. They take these figures and see where you fall in. Apparently, a 19 year old single guy is more likely to make a claim than a 53 year old, married fella.

Third area of the country; this takes into effect the number of claims in your location. Crime rates,weather,etc all play a part in this table. You're more likely to get your vehicle stolen in L.A. but you're more likely to crash it in Dec in Michigan.

Basically,they take their base rate,what they would charge the "ideal driver", with the "ideal vehicle", in the "ideal area" of the country and go from there. You pick up multipliers based on how far you stray from the "ideal". Insurance is a highly competative and gov't regulated business. I doubt that they make decisions based on whimsy.

So if what you're saying is true... if I buy a bike that nobody else has... and I crash it... I do nothing to affect your insurance rates... I might even help them!

[Amber Lamps]

Originally Posted by OneSickPsycho

So if what you're saying is true... if I buy a bike that nobody else has... and I crash it... I do nothing to affect your insurance rates... I might even help them!

Hmmm...as far as bikes go they group them by type and base their rates accordingly. When I had my V-Max I was amazed that the rate was cheaper than it was on a FJ1200. Alot of the differences in rates come from how the underwriters group your particular bike.