www.CVOHARLEY.com
CVO Social => Other Topics => Topic started by: Indenial on January 02, 2020, 07:02:02 PM
-
I'm wondering what your experience has been with your insurance company paying out. That's when it really counts.
Progressive wants $600 ($715 less $112 if pd in full) in MN for my 2009 Road Glide. Geico wants $450 (pd in full).
Progressive: Liability 500,000 combined single limit each accident cost: 110.00
Uninsured/underinsured: 500,000 combined single limit each accident cost: 197
Medical payments: 5000 each person cost: 82
Accessories: 3000 cost: included
Comp and Collison limits not noted, but zero deductible cost: 53 and 272
Geico Quote: Liability 250,000/500,000 cost: 35
Property damage 50,000 cost: 10
Medical payments 5000 cost: 60
Uninsured 250,000/500,000 cost: 81
Underinsured 250,000/500,000 cost: 150
Comp 500 ded cost: 27
Collision 500 ded cost: 84
Accesories 3500 included
Do you more qualified people see any red flags? Other than not having a local agent, who does our house/cars, to call?
-
As a retiree from a major insurance company I would suggest first off to get your coverage from a company direct. Bypass an agent at all costs. I as well as all the folks I worked with over the years slowly did away with any agent involvement on our personal stuff.
As you probably know, the agent's income has to come from somewhere, and it's not going to be me. The agents ability over the years to have a monetary affect on your business has slowly eroded to practically nothing. The rates you listed seem very much inline. I would, if I were you, go by the dealership you would use for repairs in case of a loss and ask the service manager who he has the best luck with overall and probably go with that company.
You can always have repairs done at your shop of choice, this is the law. But some folks prefer to go to a Insurance company preferred shop, this usually would include repairs being monitored by the staff adjuster in the area, extended warranty from your insurance company, valet (usually on cars only) extended rental, if needed. But others want to control all that themselves, me included. But it will help if your company also uses or at least works well with the same dealer or shop you prefer and the best way to find out is to ask the shop.
-
Thanks Don. Good advice. I'll go ask them.
-
the only info that i can give you in this regards is purely anecdotal. i've made 4 claims through progressive. the first one was when my bike was attempted to be stolen and the guy dropped it. did over $1300 in damages. second one, my wife's bike fell over while on the lift, damaging the crash bar and front fender, about $1000 in damages. those were several years ago. but then a year ago last october i hit a deer on the way to work. luckily i didn't go down, but had about $3500 in damages to the bike. then in march, i was rear ended while waiting to make a left turn, totaling the bike.
in all instances, i felt like i was treated very fairly, and didn't have to fight for anything. in fact, because i was able to do the labor myself, i actually made out ahead. in the last instance where the bike was totaled, i ended up with a check for the bike for $25,000. paid $33,000 for it back in 2013 and put 40,000 miles on it. i did not have much in the way of aftermarket accessories, so the the $3,000 included covered what i had added.
now, none of these really affected my rate, except in the last case i went from a 2012 and a 2013 to two 2019 roadglide specials. so, yes, my rate did go up because of the different value of the bike. and i do have new bike replacement for the first 2 years as well.
contrast this to a guy i knew in the military. no tickets, no accidents. got into a wreck and had to fight with geico to get his bike fixed, and then afterward, they cancelled him.
i can't say if they are like that everywhere, but that's my experience here. i have no problems recommending progressive.
oh, and there are at least 3 ways to get progressive. the first is direct through their website. the second through hd insurance, and the 3rd is through usaa. (this is in addition to using a local agent of course). i got a quote all 3 ways. surprisingly, going through hd insurance was the cheapest. i've been with them now for 18 years.
-
My Opinion -
Your Liability covers "damages that you do to others." 500,000 seems high for your bike. You'd REALLY have to do some damage and hit multiple vehicles to do 1/2 mill in damages to others. For a bike I'd personally recommend 100G or only slightly higher.
If your state allows it then I would drop Uninsured/Underinsured completely because it looks like you are getting Comp and Collision. These would kick in automatically in the event that the party that hits you is underinsured or uninsured so it would be unnecessary to have both (Again, a few states require it)
Check with NATIONWIDE - They are the best!
-
Both are reputable (as far as insurance companies go) companies. I've had both, never had a claim however so can't help you there. One thing I noted however is that your two quotes are not for the same coverage, so you're comparing apples to oranges. If you're getting those quotes online, adjust both to the same limits and coverage before comparing quotes.
What I've learned over the years is that blindly staying loyal to one company for many years will cost you money. They all make claims about saving you significant money if you switch to them; the reason they can do that is your first year is discounted but they will make it up later. They all assume you will just stay with them after you switch so they can make up that first year discount and then some. I now get fresh quotes every year on all my vehicular policies, and rarely wind up staying with the same company more than two years in a row. In the old days before direct quotes and purchases, many people touted the personal relationship with a good agent as reason to stick with one company. These days more and more of us do not use agents.
Jerry
-
My insurance is through USAA, but they do not write motorcycle policies since 2009. USAA has progressive underwrite their policies now.
So I have been with progressive for 10 years. My policy clearly states after five years you get major accident forgiveness and many other perks.
March 9, 2017 my wife went down on 1-75. My wife was not at fault. They 18-wheeler was cited for failure to maintain his equipment and negligence. Progressive had to pay out 33,000 dollars for the bike. That said, they were reimbursed by the trucking company as was my medical insurance.
October 2019 I was hit by a woman in a car with no insurance while she was on her cell. 8700 dollar damage to my bike.
Progressive just issued a no-renual notice on my motorcycle policy. So I call, talked with a under-writer supervisor. She stated I was dropped because we had over 40K in claims in 3 years. I explained they recouped their loss on my wife's bike so they only had 8700 in pay out as the lady that hit me had no insurance and my uninsured driver had to cover it. I also explained both accidents that were not our fault the other party was cited. She said she would take it up the food chain and see what could be done, she agreed that they should not drop me with the accident forgiveness and not being our fault.
Well it comes back Progressive does not care who's fault. Progressive states and accident is an accident, we had two, and over 40K payout even if it was recovered its still 40K claims.
So I asked why do they insure a CVO, if you total it, they will drop you.
No complaints with how they paid out and treated each wreck. My only issue is they drop you, even when not your fault.
-
I'm wondering what your experience has been with your insurance company paying out. That's when it really counts.
Progressive wants $600 ($715 less $112 if pd in full) in MN for my 2009 Road Glide. Geico wants $450 (pd in full).
Progressive: Liability 500,000 combined single limit each accident cost: 110.00
Uninsured/underinsured: 500,000 combined single limit each accident cost: 197
Medical payments: 5000 each person cost: 82
Accessories: 3000 cost: included
Comp and Collison limits not noted, but zero deductible cost: 53 and 272
Geico Quote: Liability 250,000/500,000 cost: 35
Property damage 50,000 cost: 10
Medical payments 5000 cost: 60
Uninsured 250,000/500,000 cost: 81
Underinsured 250,000/500,000 cost: 150
Comp 500 ded cost: 27
Collision 500 ded cost: 84
Accesories 3500 included
Do you more qualified people see any red flags? Other than not having a local agent, who does our house/cars, to call?
There has been a lot of good advice here and can’t tell you what insurance is best, the only thing I would look into if you ride without a helmet. Some states require you to have 10,000 dollars in medical insurance to ride in that state without a helmet, Florida and Michigan come to mind. I always where a helmet and maybe you do too. but might be something to think about. I don’t think they check and maybe it only applies to the person living in that state. I’m sure others on here are more qualified to answer that question.
Sent from my iPad using Tapatalk
-
I have a comment regarding Liab Policy limits. Use the above comment of $100K. You wander out of your lane, or turn in front of New Escalade which in avoiding you hits a Grand Cherokee and then a guardrail and damages a Electronic component light pole (I am referencing a actual claim I worked). The Escalade totaled with tax & recovery & options = $107K, The Cherokee had $21K in damage + rental reimbursement and towing + loss of value = $23.5K, the state damage (pole/guardrail) was $26K. For a total of $156.5K. You know where the $56.5K came from after the policy paid max of $100K? The originators pocket, monthly payments after trial.
-
I went to the Harley dealership this morning and asked which insurance company they like to work with the best and they said Progressive, no question.
-
I have a comment regarding Liab Policy limits. Use the above comment of $100K. You wander out of your lane, or turn in front of New Escalade which in avoiding you hits a Grand Cherokee and then a guardrail and damages a Electronic component light pole (I am referencing a actual claim I worked). The Escalade totaled with tax & recovery & options = $107K, The Cherokee had $21K in damage + rental reimbursement and towing + loss of value = $23.5K, the state damage (pole/guardrail) was $26K. For a total of $156.5K. You know where the $56.5K came from after the policy paid max of $100K? The originators pocket, monthly payments after trial.
I agree. You cause an accident on your bike, resulting in a high end Mercedes, Ford Platinum F250, and a Tesla to be heavily damaged, you could easily exceed $100k.
-
Oftentimes your state department of insurance maintains records of complaints against insurance companies. They will express them in terms of per 1000 policies written. If you're trying to predict which company will give you the most grief if you have a claim this is a pretty accurate measure.