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Motorcycle Insurace Rates - What are you paying?

 
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coralreefer_1



Joined: 19 Jan 2009

PostPosted: Wed Apr 01, 2009 5:40 am    Post subject: Motorcycle Insurace Rates - What are you paying? Reply with quote

I called my agent with Samsung insurance today to renew my insurance for my Daystar 125.

This will be my 3rd year with the company. Last year I paid about 160,000 for the year. When I called the agent today she quoted me a price of 220,000!!

I've never had an accident and while I understand the rates increase every year, that seems like a rather large increase to me. Is this woman trying to rob me?

I'm curious what other riders here are paying. Does this seem like a normal rate compared to what you pay?
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DavePuff



Joined: 01 Jan 2005
Location: Daegu, South Korea

PostPosted: Wed Apr 01, 2009 7:27 am    Post subject: Reply with quote

Two years ago I was paying 110,000 won a year for insurance for my 125cc. The bike was 14 years old however, but less than 10,000 kms.
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coralreefer_1



Joined: 19 Jan 2009

PostPosted: Wed Apr 01, 2009 7:54 am    Post subject: Reply with quote

Thanks for the reply. As the woman doesn't speak English at all, and when I originally began the policy, the footwork was done by my professor at the time(her son was one of his patients) I am not even sure if the coverage I have is comprehensive or only liability.

I just wonder if she is giving me an inflated quote because I am a foreigner and she wants to make a slightly larger commission.
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Bibbitybop



Joined: 22 Feb 2006
Location: Seoul

PostPosted: Wed Apr 01, 2009 8:18 am    Post subject: Reply with quote

Check "the official motorcycle/scooter thread" for more info in off-topics.


A 250cc cruiser will run you 200,000-250,000 a year. Prices went up from 150,000 last year due to some new gov't regulation, but you do get more insurance with that new price.
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IlIlNine



Joined: 15 Jun 2005
Location: Gunpo, Gyonggi, SoKo

PostPosted: Wed Apr 01, 2009 3:42 pm    Post subject: Reply with quote

Bibbitybop wrote:
Check "the official motorcycle/scooter thread" for more info in off-topics.


A 250cc cruiser will run you 200,000-250,000 a year. Prices went up from 150,000 last year due to some new gov't regulation, but you do get more insurance with that new price.


Mine went up as well.. I thought mostly because for some reason, when I first bought insurance, they thought it was a 'delivery bike' - which it's not. I clarified it when I renewed and the price went up to ~200,000 with Hyundai Marine.
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