Prohibitive Insurance Cost!

[ahnh666]

a guy had a porsche gt in sf as his only car...paying about $3,000 a year (not the best driving record)...his father passed and he inherited an old ford ranger...he put it on his insurance until he could sell it...his total insurance for both vehicles was $2,000 a year...obviously, he decided to keep that old ford ranger instead of sell it...it was a complaint i was reviewing and after i explained why and how this is possible...he kind of understood, but he still felt cheated for all those years he paid his insurance on his one car...depending on the situation, having other vehicles can save you a lot of money...

My total premium decreased when adding a second bike. I bumped coverage and paid 4$ less than insuring just one bike. Made me think, maybe one can find a vin for a low cc bike frame and insure it to save $. And increasing deductibles to 1k would net me less than 30$.

 

[Oh My Sack!]

I've had Progressive for years with even more extensive coverage than the OP's and have had excellent low rates and phenomenal service when I had a significant claim. I don't live in barf-land, though. I recall when shopping at renewal time, several of the bigger name firms being all over the place on pricing and I believe that has a lot to do with demographics and location.

That said, in the past, I recall one of our members here being an independent agent and being able to write policies for Progressive at much lower rates then what peeps were quoted online. Send "SF49er" (Sal) a PM and see if he can help you out in some way.

You could shoot for multi-bike discounts by buying more motorcycles, too! By the time I added my 3rd & 4th bike to my policy, the discount actually LOWERED my yearly premium by about $75/yr, the 5th was free! Hell, I sold a bike at one point but let it on my policy so it wouldn't go up!

 

[TheRiddler]

Progressive has always been the cheapest for me and I've only owned sportbikes. Their multi-vehicle policy counts for a lot. I added a second bike and it dropped my rate by about $200 a year. I added a third bike and it dropped my rate by $7.

State Farm was a joke the one time I tried. They wanted 4x what Progressive wanted. Geico wanted 6x.

 

[kenrik]

I pay about $700/yr on my Monster 696 with only a $50 deductible on comp/col. (Geico) did you price shop with different bikes?

 

[louemc]

I use McGraw, for all I know, they have never paid a claim in there life..cause I have never filed a claim in my life. I pay $80.00 a year, for my ZX-10. But I've been riding for 60 years.

 

[Ol' Gravy Leg]

I use McGraw, for all I know, they have never paid a claim in there life..cause I have never filed a claim in my life. I pay $80.00 a year, for my ZX-10. But I've been riding for 60 years.

You're just talking liability, right louemc? I pay a little less than that for similar reasons: many decades of clean riding and never filed a claim.

I'm tempted to tack on comprehensive just so I can travel/park anywhere and not have to worry all the time. But, I'm wary becasue if I did ever file a claim, I'd think my rates would skyrocket.

 

[CoolBDPhenom03]

Call Fasttrak Insurance. They work with more competitive companies to shop rates. I think I'm with a company that specializes in motorcycle ins.

 

[KooLaid]

I'm with geico now, have been for 3 years or so for the bikes (all title in hand). 31 male, clean, m1 11+ years. 100/300 full coverage $200 deductible or less, all the Bells and whistles. 04 RSV1000R factory $44/month. Replaced with 08 Duc 1098 $48/month. Replaced with 09 aprilia sxv550 $23/month.

When I was 20, I was with State Farm, new rider clean record. 50/100 full coverage $100 deductible with all the goodies. Brand new financed 02 Honda f4i $66/month. Months later, filed a big claim but not total loss. 1 year later rate dropped to $33/month and stayed there till I was 24 and sold it.

 

[KooLaid]

Liability for any bike or scooter is only $75-$80 per year for me if its state minimum. Bump it up to 50/100 or 100/300 and its still like low $100 per year

 

[MCCRASH]

You can always go with a higher deductible to reduce your yearly cost.

This.

 

[louemc]

You're just talking liability, right louemc? I pay a little less than that for similar reasons: many decades of clean riding and never filed a claim.

I'm tempted to tack on comprehensive just so I can travel/park anywhere and not have to worry all the time. But, I'm wary becasue if I did ever file a claim, I'd think my rates would skyrocket.

Yes, just liability...And didn't need to use that, just have it. But..I believe in myself..I don't hit anyone And I live in such a place and, way...I don't have other problems either.

 

[Burning1]

Shop around.

I have a similar record, albeit with more riding experience. I pay $650 a year for better coverage on a 1300. (1 million liability, full coverage, 1 million UIM.)

 

[Burning1]

You're just talking liability, right louemc? I pay a little less than that for similar reasons: many decades of clean riding and never filed a claim.

I'm tempted to tack on comprehensive just so I can travel/park anywhere and not have to worry all the time. But, I'm wary becasue if I did ever file a claim, I'd think my rates would skyrocket.

I generally get full coverage with a low deductible for comprehensive and a high deductible for comp. It keeps costs down if someone knocks my bike over in a parking lot, while still providing reasonable coverage if for some reason I total my bike.

FWIW, in my experience you can expect your premiums to increase by $1000/year or so for any ding on your driving record.

 

[TrueFader]

If it makes you feel better, when I was quoting an sv650 a couple years ago, they wanted 300+ a month if I included any collision coverage. My monthly payment on a brand new one would have been 150 a month, so it didn't make sense to buy it at the time, unless I was buying 3 and not insuring any of them.

 

[MC BumSlap]

I just got a quote for my W650 and American Modern/CSAA wanted $320/year. GEICO, for similar coverage's was $284. Still have to do more searching around.

 

[Toast]

Goddamn that's expensive. I feel lucky only paying $15 a month for liability, under 1 year with a M1 and 24 years old (clean driving record though).

 

[clutchslip]

I use McGraw, for all I know, they have never paid a claim in there life..cause I have never filed a claim in my life. I pay $80.00 a year, for my ZX-10. But I've been riding for 60 years.

There is some other stuff, going on here. I have used McGraw and gotten good rates, but a liter bike is still a liter bike. Your zip code helps, but I smell some bacon fryin' on this deal.

 

[clutchslip]

Goddamn that's expensive. I feel lucky only paying $15 a month for liability, under 1 year with a M1 and 24 years old (clean driving record though).

That doesn't sound right, either. I don't know how you people get these rates. The only deduction I don't get is MSF, because I have never, and never will take the course. But, I pay a lot more for insurance. Of course, I carry maximum available coverage, so there is that part.

 

[hisg58]

That doesn't sound right, either. I don't know how you people get these rates. The only deduction I don't get is MSF, because I have never, and never will take the course. But, I pay a lot more for insurance. Of course, I carry maximum available coverage, so there is that part.

Based on my limited experiences that's pretty accurate. Liability only can seriously be under $100 a year for bare minimum coverage.

 

[Toast]

That doesn't sound right, either. I don't know how you people get these rates. The only deduction I don't get is MSF, because I have never, and never will take the course. But, I pay a lot more for insurance. Of course, I carry maximum available coverage, so there is that part.

Whats wrong with the MSF?

But I have an old bike and it's under 600cc's, so I might as well be riding a moped as far as my insurance company is concerned.