Insurance Premium

2012 r1200GS, full coverage with Safeco [ now owned by Liberty Mutual ] was 598.00 for 2020. The 07 1200GT was basically within a few dollars of that figure last year also. That's bundled with the home insurance, and two cages.

50.00 a month, or 12.50 a week or 1.78 a day. My coffee runs 3.00 a day, nearly double what the bike costs me. I don't believe that's all that expensive myself.

WWeldin said:

Try getting the deductable raised to at least $1000 to see if that makes a difference in the premium. Worth a shot.

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I think that is the answer. I've always had a 1k deductible and had very good annual costs. PS, I'm going on 84.

WWeldin said:

Try getting the deductable raised to at least $1000 to see if that makes a difference in the premium. Worth a shot.

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I agree. The deductible of $250 gives the insurance company a lot of exposure.

davebrik2 said:

Dump Progressive. I did!! Check out their politics! That's enuf reason for me!!

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Dave - Looks like you're thinking about the former CEO (dead for about six years at this point) and his personal political contributions.

The devil is in the details

Just for reference, I insure a 2003 R1, 2016 HD limited, 2018 R1200RT and a 2007 Chevy Trailblazer, all with full coverage for $100 month. The coverage on the three motorcycles are the same, the premiums are very close to each other pus the R1 is the lowest priced one of the three to insure due to the smaller engine size and age (value), and the collision coverage for it is darned near free. When I bought the R1 I was going to put just liability on it until I checked and comp and collision for it was just a few dollars more.


It does not mean much to state 'with full coverage'. How much ($ value) does that $100/mth get you for material damage, what is your deductible, how much 3rd party coverage, comprehensive coverage and (assuming you live in the US) how much medical coverage. Its like saying I bought my motorcycle for X$, without knowing what you got for your $, how do you know if you paid too much or too little?

zoomie said:

I’m not sure if this thread belongs here or not. I am 74 years old. No recent tickets or accidents of any kind. I’ve been riding off and on since 1965. I recently bought a 2015 K1300S. Progressive wants me to pay an eye watering $202.00 a month for $250,000.00 liability and $250.00 deductible comprehensive and collision. I have three other vehicles insured with them and the monthly premium for the K1300S is more than the monthly premium for a 2006 Ducati ST3S, 2016 Polaris General 4 seat and 2015 BMW R1200RS combined. Does anyone have any suggestions, besides selling everything and walking? This is outrageous!

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Drop Progressive. They jacked up my MC insurance from 430 bucks to 800 bucks a year this past year when I switched from a2015 Yamaha Tenere to a BMW R NineT. Switched to Gieco and got same coverage back down under 400 bucks a year for full coverage 500 deduct able. Located in mid-west St. Louis Missouri area.

87R100RS said:

Just for reference, I insure a 2003 R1, 2016 HD limited, 2018 R1200RT and a 2007 Chevy Trailblazer, all with full coverage for $100 month.

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1. I suspect you mean ....$100 a month, each.

2. For your RT and HD, I have to question your "full coverage" statement. ICBC (the insurance company in BC) would be asking a lot more, as would a third party carrier. If you stand by your statement, please PM me the details so I can take advantage of this pricing!

weschmann said:

Drop Progressive. They jacked up my MC insurance from 430 bucks to 800 bucks a year this past year when I switched from a2015 Yamaha Tenere to a BMW R NineT. Switched to Gieco and got same coverage back down under 400 bucks a year for full coverage 500 deduct able. Located in mid-west St. Louis Missouri area.

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The rates, policies and behavior of insurance companies varies greatly from state to state. State laws regarding insurance, the incidence of theft, the tort laws in the state and accident rates all impact the rates a company charges. A company that is first-rate in one state is not so good in another. I used Allstate in Alaska and got very good rates. Moved to Montana and they are very high. Used Markle for a few years with good rates, then one year they declared me a high risk driver and more than doubled our rates. I have not had ticket in 35 years nor filed a claim in over 40. Markle claimed it was Montana's fault because the state specifies a methodology for rating drivers. They are either stupid or dishonest, or more likely a mixture of the two. I have noticed that insurance companies tend to jack-up their rates after 3-4 years. I have no idea why. Been with Progressive for three years. Annie and I have 5 bikes between the two of us (a 14 F800GS, 17 R12GSA and a 17 R12GS) and two Urals (a 18 and a 19). We pay around $1200 a year for full coverage, $250 deductible, uninsured motorist, $3000 in accessories). Coming up on our 4th renewal with progressive and won't be surprised if our rates jump dramatically. If they do, then we shall walk. I have a suspicion that if you buy through a local agent, which is my preference, then you are less likely to be gouged.

BC1100S said:

1. I suspect you mean ....$100 a month, each.

2. For your RT and HD, I have to question your "full coverage" statement. ICBC (the insurance company in BC) would be asking a lot more, as would a third party carrier. If you stand by your statement, please PM me the details so I can take advantage of this pricing!

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Nope, $100 a month total, it might be $110 but I am not going to split hairs over it. I don't have my policies close right now, but North Dakota is a cheep state to insure vehicles. I moved from Minnesota and my rates dropped in more than half. Seriously, I moved across the state line in the same metro area. Oh, and that is for two drivers, includes my wife, although she does not run the motorcycles, and she drives the Trailblazer about 90% of the time.

No accidents, no tickets, and great credit help a bunch.

Your credit score affects your insurance greatly too. Plus I have been with State Farm for over 40 years. We have had a few claims over the years, but they are money ahead on us, by far!

PoorUB said:

Nope, $100 a month total, it might be $110 but I am not going to split hairs over it.

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For clarity...Scanning back in the thread I see that 87R100RS copied and pasted your comment into his post (#25) making it appear that he was making the statement. I do not question your statement whatsoever.

ExGMan said:

Dave - Looks like you're thinking about the former CEO (dead for about six years at this point) and his personal political contributions.

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Thanks ex. I didn't realize that and had similar reservations.

BC1100S said:

For clarity...Scanning back in the thread I see that 87R100RS copied and pasted your comment into his post (#25) making it appear that he was making the statement. I do not question your statement whatsoever.

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Ahh, I see his confusion!

Insurance

zoomie said:

I’m not sure if this thread belongs here or not. I am 74 years old. No recent tickets or accidents of any kind. I’ve been riding off and on since 1965. I recently bought a 2015 K1300S. Progressive wants me to pay an eye watering $202.00 a month for $250,000.00 liability and $250.00 deductible comprehensive and collision. I have three other vehicles insured with them and the monthly premium for the K1300S is more than the monthly premium for a 2006 Ducati ST3S, 2016 Polaris General 4 seat and 2015 BMW R1200RS combined. Does anyone have any suggestions, besides selling everything and walking? This is outrageous!

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Try State Farm for just that bike. I had a zx14 that they quoted and it was outrageous,that’s when I went w State Farm for 650/yr. It’s because the k13 is in sport bike category......

Jerry

Ins

PoorUB said:

Where you live, credit and accident history affect insurance. In this case something is very wrong. I don't care if the 1300 is a higher risk machine, it goes back to the rider more than the motorcycle. There is no way premiums for one motorcycle should cost as much as two-three others for the same rider.

Just for reference, I insure a 2003 R1, 2016 HD limited, 2018 R1200RT and a 2007 Chevy Trailblazer, all with full coverage for $100 month. The coverage on the three motorcycles are the same, the premiums are very close to each other pus the R1 is the lowest priced one of the three to insure due to the smaller engine size and age (value), and the collision coverage for it is darned near free. When I bought the R1 I was going to put just liability on it until I checked and comp and collision for it was just a few dollars more.

I am with State Farm and the premiums are based on engine size, plus value and other points, but it is funny, I looked into buying a new Yamaha R1 and the premiums on it were less than the R120RT, and the Harley was the highest premium all because engine size and value!

To the OP, I would shop around. Something stinks! Not that is is worth anything, but Geico and Progressive would be the last too insurance companies I would go with.

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That’s because you live in ND! That would be over 3 k a yr here in NJ where it’s more populated. They definitely do have different costs for tour vs sport bikes

Jerry

I used to hang out on a couple sport bike groups. Guys from huge cities would post that insurance was $8,000 a year on a $16,000 motorcycle. The one poster claimed he would have his motorcycle stolen every 2-3 years. New York city or Los Angeles had similar rates. I remember one post explaining that he would chain his motorcycle to a steel eye in the concrete floor, put an alarm on the garage and the motorcycle itself and they would still steal it.

jaachap said:

Try State Farm for just that bike. I had a zx14 that they quoted and it was outrageous,that’s when I went w State Farm for 650/yr. It’s because the k13 is in sport bike category......

Jerry

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I checked a while back and full coverage for a new Yamaha R1 would cost me less than $400 a year. One of the benefits of living in ND.