Kaz,
I will share my numbers with you. First let me tell you that I own an insurance agency, so I know a little about this subject. My numbers can be a guide - but the fact of the matter is these days there are so many different variables that go into rating on bikes and cars that it virtually impossible to know whether you or someone you are comparing to is getting a good deal or not without shopping around a little.
Those variables include state, county, city, driving record, claims, credit score, sex, age, experience, how many vehicles you have, if you own or rent your home, whether you had prior insurance or not, what your liability limits were previously, if you have a loan on the vehicle, how far in advance of the renewal date you are asking for a quote and a lot more. Another factor, as you will see in my breakdown is what coverage limits you buy. As you see below, some coverages are a lot more expensive than others and can make a big difference in the total.
I did not shop all of the companies in the market for my coverage. I did it in my independent insurance agency (of course) and only looked at the 2 companies we use who want to write bikes, Safeco and Progressive. Progressive is one of the largest writers of motorcycle insurance and that is who I use and their rates for my bikes are shown below.
I have 3 bikes, under each I have given a breakdown of the coverage and costs:
Being an insurance person I believe in having high liability limits and high deductibles. I will not be turning in any small claims anyway so I take advantage of the discount for a larger deductible, as should you.
My coverage is:
$500,000 Combined Single Limit (CSL) for liability
$2,000 Medical Expense (probably not needed, but I have it anyway.
$500,000 CSL Uninsured/Underinsured Motorists liability (the MOST important coverage here)
$500 Deductible Comprehensive
$1,000 Deductible Collision
$450 Towing
These are annual premiums:
2007 SERK total is $694
Liability $200
Medical Expense $70
Uninsured/Underinsured Motorist $181
Comprehensive $71
Collision $171
Towing $1
2005 Deuce total is $527
Liability $184
Medical Expense $56
Uninsured/Underinsured Motorist $138
Comprehensive $45
Collision $103
Towing $1
2005 Road King Classic total is $527
Liability $184
Medical Expense $56
Uninsured/Underinsured Motorist $138
Comprehensive $45
Collision $103
Towing $1
Total for 3 bikes annually $1,748.
A little more background. I live in Fairfax County, just outside of Washington DC. While the rates here in my area are higher than in most of VA, VA has some of the lowest auto insurance rates in the nation. I have a clean driving record, except for one at-fault fender bender 2 years ago, (no ticket luckily). I am 46, married, own my home and have excellent credit. And unfortunately NO, I don't get a discount of any kind...
I know this is probably a LOT more information than you were looking for. I hope it helps. Feel free to let me know if you have any questions.
Doug
From Another (ZIPCODE) In Virginia The reason I Stress Zip code is That what Really Sets Your Insurance Rate. So you can Only Compare Coverage (Amount Carried) What IS a Good Rate to some may not be the best rate you can get in your State (Or) Zip code.
I have Two Bikes, 57, married own a home and if I didn't have good credit I would not have any of that stuff.
My Bikes Are Covered with Progressive
2002 Honda Gl 1800 Engine Displacement 1832 CC’s- (Another Factor)
Liability $500,000 $75.00
Uninsured Motorist $500,000 $69.00
Medical Expense per person $10,000 $117 .00
Comprehensive DEDUCT $500 $10.00
Collision DEDUCT $500 $92.00
Towing and Labor $75 Each Disablement/ MAX $450 Included
Total for GL1800 $363.00
2006 FLHTCUSE Engine Displacement 1690 CC’s
Liability $500,000 $108.00
Uninsured Motorist $500,000 $108.00
Medical Expense per person $10,000 $164.00
Comprehensive DEDUCT $500 $32.00
Collision DEDUCT $500 $156.00
Towing and Labor $75 Each Disablement/MAX $450. Included
Total for the CVO HD $568.00
Total For 12 month Coverage $931.00
When comparing these rates with whatever state you are in (ZIPCODE) is sure you get the same coverage before you can say that it’s too much. (FAR better to have it than not need it, than to not have it and Need it)
Included in my Progressive Coverage Also Covers My Passenger (Co-rider) that is included in the amount of Medical Expense a Co-rider is defined as any person on the back.
ASK YOUR CURRENT Insurance CO if they cover a passenger and there will be a very long pause on the phone. It is important to me (It may not be important to you). Remember When you go to a Rally and the drunk Half Naked Girl ask for a ride and falls off the back and becomes disfigured you may wish you had it, because you did not ask about it because you never ride two-up (Hey But What Could Happen?)
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Topic: Insurance (Read 9684 times)