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Thread: Insurance Premium

  1. #16
    To update this, I held my nose and went with Dairyland. At one time they were ranked at the bottom. Anyway, For mediocre coverage my annual premium is $493.00. Once the bike arrives, Iíll shop around for something better. I wanted it insured while it was being transported.

  2. #17
    Quote Originally Posted by lkraus View Post

    At one time I insured two bikes. When I sold the smaller, older one, the rate went up.
    I have a couple on my insurance that are being worked on. I called to drop one off as itís a long-term project and wonít be ridden until next summer. Same deal, my overall premium would go up a bit. When I asked why, the agent said that my risk was spread across multiple bikes and removing one put more risk on the newest/most expensive bike.

  3. #18
    Quote Originally Posted by zoomie View Post
    Iím not sure if this thread belongs here or not. I am 74 years old. No recent tickets or accidents of any kind. Iíve 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!
    Dump Progressive. I did!! Check out their politics! That's enuf reason for me!!

  4. #19
    Registered User 36654's Avatar
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    State Farm has always been the best deal for me. But, I bundle the bike with 2 car, a pick-up and a homeowners policy.
    Cave contents: 16 R12RS, 13 Toyota Tacoma, 03 Simplicity Legacy, 97 Stihl FS75, Dewalt DW625 & SawStop PCS175
    1) My expectations are never low enough & 2) Incompetence is infinite ........David Brooks

  5. #20
    When we moved from Ohio to NC to a comparable neighborhood (insofar as crime statistics, traffic, proximity to shopping, walkability, housing costs, etc.) the insurance for everything went up. Bike insurance was about 3x higher. Progressive was the insurance provider in both states.

    In shopping around for alternates for insurance I found some were even higher than Progressive (Geico) and one was about half (Hagerty). Alas, my new bike (2018 RT) didn't qualify for coverage with Hagerty. Then I discovered that Hagerty would not provide the
    level of coverage that I needed before my umbrella policy took over. Progressive would provide this higher coverage level. So I continued with Progressive.

    A major benefit is the extended riding season in NC (basically year 'round) - well it was year 'round (mostly) in Ohio, but a LOT colder.

  6. #21
    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.
    The lion does not even bother to turn his head when he hears the small dog barking.

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  7. #22
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    Quote Originally Posted by WWeldin View Post
    Try getting the deductable raised to at least $1000 to see if that makes a difference in the premium. Worth a shot.
    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.
    Marty Hill
    7 GS white

    Ride till you can't

  8. #23
    Registered User ExGMan's Avatar
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    Quote Originally Posted by WWeldin View Post
    Try getting the deductable raised to at least $1000 to see if that makes a difference in the premium. Worth a shot.
    I agree. The deductible of $250 gives the insurance company a lot of exposure.
    John Gamel - BMW MOA Consumer Liaison
    2015 Ebony Metallic R1200RT
    "Those who don't know history are doomed to repeat it." - Edmund Burke

  9. #24
    Registered User ExGMan's Avatar
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    Quote Originally Posted by davebrik2 View Post
    Dump Progressive. I did!! Check out their politics! That's enuf reason for me!!
    Dave - Looks like you're thinking about the former CEO (dead for about six years at this point) and his personal political contributions.
    John Gamel - BMW MOA Consumer Liaison
    2015 Ebony Metallic R1200RT
    "Those who don't know history are doomed to repeat it." - Edmund Burke

  10. #25
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    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?

  11. #26
    Kawa Afterthought weschmann's Avatar
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    Quote Originally Posted by zoomie View Post
    Iím not sure if this thread belongs here or not. I am 74 years old. No recent tickets or accidents of any kind. Iíve 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!
    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.

  12. #27
    Left Coast Rider
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    Quote Originally Posted by 87R100RS View Post
    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.
    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!

  13. #28
    SURVIVOR akbeemer's Avatar
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    Quote Originally Posted by weschmann View Post
    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.
    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.
    Kevin Huddy
    The Outpost, Silver City, Montana

  14. #29
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    Quote Originally Posted by BC1100S View Post
    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!
    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!
    From the only real Fargo, ND!

  15. #30
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    Quote Originally Posted by PoorUB View Post
    Nope, $100 a month total, it might be $110 but I am not going to split hairs over it.
    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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