Re Insurance.

[mark]

Ok guys and gals. I have been an independent Property and casualty agent ( I own the agency) for 26 years. We have 7 different companies that insure bikes including Progressive who we like a lot for bikes, for reasons other than price.
Every state has it's own regulations for insurance, however there are common things that most all states are going to require
minimum liability limits for example. And there are common things that companies require ie. If they insure your bike they are going to get their annual premium whether you are able to ride or not. Hence you find that you make a downpayment with 3 or 4 consecutive payments, or you are on a 8,9, or 10 pay plan presto you pay for the whole year over the payment period.
If you are in the habit of just flat canceling your MC policy during the winter you may want to check what the discount is for continuous or the surcharge is for no prior insurance. You will frequently do well having multi-policies with the same carrier, ie auto,home or renters, m/c, sometimes even life insurance. However some companies like progressive will give bundled discounts for homeowners even though they don't insure homes. One last thought, Dairyland Insurance (a Sentry Co) for along time had killer rates for cruisers, we got rid of them in our agency because their auto rates sucked! but they were great on bikes.

[mark]

Oh yeah one other thing. Where you live does make a huge difference in your rates.

[ringadingh]

I wonder what determines your rate based on location? Either way it seems that in Ontario we pay 3-4 times more than most US areas. Thats an extreme increase to cover the same vehicle.

[audiogooroo]

Oh yeah one other thing. Where you live does make a huge difference in your rates.

Where you live...how old you are...what your driving record looks like...how old your bike is...
I'm with Progressive on my bike and they treat me pretty good.

[ponch]

So does credit rating.

[quote:izuhwcis]Oh yeah one other thing. Where you live does make a huge difference in your rates.

Where you live...how old you are...what your driving record looks like...how old your bike is...
I'm with Progressive on my bike and they treat me pretty good.[/quote:izuhwcis]

[01nomad]

It depends a lot on the agent. I have 100,000/300,000/50,000 on the Nomad, full coverage, and the same on the 800, just Liability, for $260 a year with Progressive. I have three cars and a house with a different agent, that also carries Progessive, and he can't touch what it cost me with the first agent. Again, the first agent can't match the second agent on the house and cars. I don't drink with either agent>

[cactusjack]

My daughter in law works for Liberty Mutual and she told me one of the reasons my bike insurance is expensive is because I do live in a climate that permits 12 month/year riding. She said the same bike would be cheaper to insure in say, Minnesota, where the riding season is one-half to one-third as long.

I pay $86/mo for full coverage with American Family, and that's with good driver and multiple-vehicle discounts. American Family has had all my insurance business since 2000. That's 3 cars, a bike, my home and my boat. I've shopped Geico, Nationwide and Rider Insurance and none of them save me enough money to make it worth changing. My '05 C50T was $50/mo for the same levels of coverage.

[kawgirl]

Again, no converage for NC. What gives with that?

Gieco wanted about $750 a year for full coverage here in Central Cal. I'm 53 and been riding for 35 years. It seemed attractive, but they wouldn't give me the "touring bike discount". They rate the Nomad that way all over the states, but not in California. I canceled the full coverage and just carry PLPD, which is $75 per year. Their literature states they won't write a policy for less than $99 a year, but I guess by buying a policy & then canceling all the expensive stuff I slipped that one through the back door. Anyhow, I paid cash for the Nomad, so full coverage wasn't mandatory for me.

I've had AAA for decades, (but Dairyland for the bikes) and only bought Gieco for the bike because AAA wouldn't insure bikes here. Now they do, but they're quite a bit more expensive so I've never switched.

[skeeter]

I know your talking rates here but really look at your coverage and what it means. Make sure your butt is covered. I was hit by an underinsured driver. He had the minimum liability insurance required by the State of Texas of $20,000. My bills ate that in a hurry. I had uninsured/ underinsured motorist protection on three seperate policies and along with PIP and Medpay things will be taken care of. You would have to sign a waiver for this protection NOT to be on your policy in this state.

[Top Cat]

Again, no converage for NC. What gives with that?

They must know you people drive like maniacs
Seriously mark, I think she has a legitimate question. Care to answer?

[cactusjack]

I know we pay through the nose for insurance here being 200 miles from Mexico. I would suppose CA/NM/TX are similar. The Phoenix and Tucson areas are usually in the top 10 areas for car theft. Phoenix is #1 in the country for red-light running, all this jacks the rates up higher and higher. Also a lot of unlicensed and uninsured drivers.

[caddman11]

Selling my 9 year old Harley and getting the new Nomad, my Progressive Insurance more than doubled. I haven't had a car stolen (knock on wood) out of my driveway for about 15 years (that year there were two stolen and a break in). We won't go into the stories, but after one of them I earned the nickname HOLLYWOOD.

I was really surprised when I got the bill with the Harleys on it (wife rides too) and both were less than $400, and now with the Nomad the bill is just under $600.

[flightdoc]

Mark,

Is it true that bike policies don't cover you from Dec thru Feb?? Over the years I've heard that and my present Progressive policy is structured that way. I don't know the exact dates but know there is a three or four month NON riding period.

thanks

vin

[dui546]

Those are some GREAT points about insurance! Reference being under-insured. I will tell you that if you are in a crash and are sent to a hospital in this area you are definitely going to get a CAT SCAN. AND...those are not cheap. If the other vehicle is not insured or insured very poorly you are looking at absorbing the costs through your policy or pocket until any civil process takes place. AND, keep this in mind, a civil judgment on someone with nothing means you get an "IOU" and that usually means "nothing" when you need it most.

I have two motorcycles on my policy with Nationwide Mutual and I am listed as the only licensed rider in the household. The rates are very reasonable but I also have my house, 2 SUVs, trailer, and a boat covered by the company.