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Author Topic: Insurance Time Again  (Read 638 times)

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oe542bob

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Insurance Time Again
« on: April 28, 2019, 05:04:13 PM »

 :soapbox:
Just got my new insurance notice. Ugh. If I pay for the year up front: $700.00
If I want to make payments: then it will be $843.50
I’m in PA, good driving record, never had a motorcycle claim
Current bike is a ‘19 FLHXSE
And in PA, there is no insurance on the rider, just passenger has some coverage.
Do I, or should I shop for a different company? Or is this the new norm for MC rates?
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OBB

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Re: Insurance Time Again
« Reply #1 on: April 28, 2019, 05:30:18 PM »

Shopping for insurance is like asking who makes the best tires. Wayyy too many variables for accurate answers unless someone who lives in your area and is almost identical in age, bike, credit score...etc can chime in.

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iski

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Re: Insurance Time Again
« Reply #2 on: April 28, 2019, 05:31:05 PM »

Shopping for insurance is like asking who makes the best tires. Wayyy too many variables for accurate answers unless someone who lives in your area and is almost identical in age, bike, credit score...etc can chime in.

Sent from my boring Droid phone.

X2.

Shop around, only well rated companies.
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CVODON

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Re: Insurance Time Again
« Reply #3 on: April 28, 2019, 06:35:20 PM »

Rate you mention is not bad. But rate is not what matters, it's what you get for that money. Coverages are the deal. A 10K Liab policy with Market Value Collision (if totalled) and $1000 deductible would be worth very little. But a $250.00 deductible, 300K Liability and Book Value replacement (total loss) and enough med pay to get you into the emergency room that covers tow and LABOR to tow + tow yard storage would not be to bad at $700.00.
Get, what you pay for. Ask for "Full Coverage", which is not A coverage but a group of coverages for cheapest preminum and you will have minumal coverage payments when you need them. Get enough insurance coverage for the worst case, because any accident where you and the bike are hurt is a worst case.
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chaos901

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Re: Insurance Time Again
« Reply #4 on: April 29, 2019, 12:11:30 PM »

Insurance companies typically give the cheaper rate to "new" business, hoping that folks will just automatically renew without shopping around.  I have an independent agent that will call me sometimes before mine is going to renew and tells me not to send them a check because she can find better.  Just the way the business works.
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oe542bob

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Re: Insurance Time Again
« Reply #5 on: April 29, 2019, 03:36:27 PM »

Insurance companies typically give the cheaper rate to "new" business, hoping that folks will just automatically renew without shopping around.  I have an independent agent that will call me sometimes before mine is going to renew and tells me not to send them a check because she can find better.  Just the way the business works.
Yea. I was thinking about this too. I’m gonna call my guy and ask about that.
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ultrafxr

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Re: Insurance Time Again
« Reply #6 on: May 01, 2019, 08:04:59 AM »

The companies have several incentives to keep your business also - vanishing deductibles, accident forgiveness and loyalty discounts, etc.  This might be important should you have a claim.


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bigchuck

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Re: Insurance Time Again
« Reply #7 on: May 01, 2019, 08:15:17 AM »

Another trick to lowering insurance cost that works for me. I have a second bike that doesn't even run that I keep insurance on. Since it is worth  considerably less than my CVO and it is only possible to ride one bike at a time it lowers my total insurance cost. In other words my total insurance for the two bikes is less than what it would cost me to ensure the CVO by itself.
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dayne66

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Re: Insurance Time Again
« Reply #8 on: May 01, 2019, 09:52:22 AM »

Be glad you're not in BC! To have the bike on the road I need ICBC....7 months is right around $1000......to cover my bike I can get private insurance for less than ICBC....about $1000 for the whole year.
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longlast

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Re: Insurance Time Again
« Reply #9 on: May 02, 2019, 06:58:19 PM »

Here in the UK I received  my insurance renewal at 168.00 up from 132.00 I paid for last year. I did some shopping around online and found I could get the same coverage for 123.00.
The crazy thing about it was it was with the same company. When I called them and asked them why are you charging me 168.00 to automatically renew my coverage that's 36.00 pound more then last year and I  if I get it online with you it's 123.00 that's 45.00 pounds more you're charging me to automatically renew. 

ANSWER!!
That's because you can get it cheaper by doing it online  :huepfenjump3:  :-\ I left that one there,.......
Then of course I told her to cancel the auto renewal gave her the "online " reference # and got the year at 123.00 for full comprehensive, that covers lawyer fees, unlimited breakdown callouts and transported to the nearest HD shop, lost key replacement, helmet and riding gear replacement due to an accident,  pillion coverage. Plus a no claims protection that blocks my rates from going up if I have a clam.

For me anyway it's online buying
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oe542bob

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Re: Insurance Time Again
« Reply #10 on: May 02, 2019, 09:32:55 PM »

Talked to my insurance guy today. Did some checking around and I’ll be going with Dairyland. Saving $75 for the year, same coverage. Actually Dairyland allows $5,000 for custom parts, whereas Safeco allowance is $3,000.
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SIKBIRD

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Re: Insurance Time Again
« Reply #11 on: May 03, 2019, 12:15:32 PM »

Gotta remember that insurance companies are in the premium collection business with insurance just being a side bar...I shopped around when my company raised my premium for no apparent reason other than greed (no tickets, no claims, no new vehicles).  I was able to save a whopping 33% with much better coverage by going with an equally reputable competitor.  When I called to cancel my old insurance, they were shocked and said but you’ve been with us for 16 years and I said yeah I know, it seems like you would treat me better.
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muddypaws

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Re: Insurance Time Again
« Reply #12 on: May 03, 2019, 01:46:44 PM »

Registered my bike in GA. Insurance much more then in Virginia...
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Bill

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Re: Insurance Time Again
« Reply #13 on: May 23, 2019, 01:51:45 AM »

Another trick to lowering insurance cost that works for me. I have a second bike that doesn't even run that I keep insurance on. Since it is worth  considerably less than my CVO and it is only possible to ride one bike at a time it lowers my total insurance cost. In other words my total insurance for the two bikes is less than what it would cost me to ensure the CVO by itself.

The multiple vehicle discount...

If I needed it I would insure my old GSXR that may never run again... (I said I would resurrect it.. that hasn't happened in 5 years)

At least I still have the Wife's 'king she never rides...
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Harley Guy

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Re: Insurance Time Again
« Reply #14 on: May 23, 2019, 09:35:31 AM »

$287 per year - OHIO -  full coverage ALL year.

State Farm with multiple policies discount (house, care, Umbrella, etc)

Good coverage limits, etc, but a $2500 deductible.  Higher deductible saves $$$ in premiums along with no claims of any kind in over 20 years.
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