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coralreefer_1
Joined: 19 Jan 2009
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Posted: Wed Apr 01, 2009 5:40 am Post subject: Motorcycle Insurace Rates - What are you paying? |
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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
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Posted: Wed Apr 01, 2009 7:27 am Post subject: |
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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
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Posted: Wed Apr 01, 2009 7:54 am Post subject: |
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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
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Posted: Wed Apr 01, 2009 8:18 am Post subject: |
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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
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Posted: Wed Apr 01, 2009 3:42 pm Post subject: |
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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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