State farm is offering me the lowest rate, but they quoted me with Specified Cause of Loss instead of Comprehensive.

Anyone have experience with this?

Specified Causes of Loss (D3) pays for fire, lightning, or explosion; theft; the sinking, burning, collision, or derailment of any vessel or vehicle in or upon which your auto is being transported; windstorm, hail or earthquake; flood; or mischief or vandalism.

A $25 deductible applies for mischief and vandalism. Otherwise, no deductible applies for other covered losses

 

Looks like it covers everything Comprehensive would cover, except being hit by an animal.

 

Comprehensive insurance coverage essentially covers everything except for damages to your car caused by a collision. From natural disasters to theft, comprehensive insurance has you covered. Since comprehensive insurance is such a large umbrella, it can be very costly, especially if you have a low deductible. So, if you want to pick and choose only certain aspects of comprehensive insurance and therefore pay less, you should consider specified causes of loss insurance. With this insurance, you can decide exactly what incidents you want to be covered.


Basically, you break down Comprehensive and only pick what you want.

 

I'm an insurance agent and at least in the few states I write in comprehensive coverage is cheap, collision is the expensive part of the vehicle coverage (medical and uninsured is the most expensive portion). I would not accept anything less than standard comprehensive. If State Farm doesn't want to offer that find another carrier in your area for the bike. SF has been having issues with losses lately and has been doing things like this. Another example of how they're attempting to save money is by moving to a percentage deductible for home policies (rather than a flat fee like $1,000 they charge a % of the coverage so a home that's covered for $300,000 might be subject to a 2% deductible which is $6k). Also, it has been my experience that captive companies (State Farm, farmers, am family...). Don't have the best coverages for bikes. Progressive, geico, and so on have more comprehensive coverage usually. For example when I was a Farmers agent years ago our policy was super cheap but it was a super cheap policy too, coverage was lacking for things like accessories, road side service etc. I'd shop for the right policy.

 

Hey Vista,

I produce for State Farm and have been for over 10 years. I always find it interesting how things differ from state to state given their different insurance laws and regulations. I have heard that in some states State Farm is very expensive and what I find funny is here in California, our rates are dirt cheap compared to companies like Farmers, Progressive and All State for motorcycles.

Also, the policy is better and now bundles emergency roadside assistance through its Comprehensive coverage.

Interestingly enough, I also heard from a good friend of mine at a local Farmers brokerage that their DM advised they will soon be adopting percentages in place of dollar amount deductibles.

I am not sure how I feel about these new adjustments but what can we do!?

Bottom line, it can be hard comparing coverage with people in different areas especially different states all together. Depending on the laws and regulations certain companies will have a stronger presence there. Just have to do your research and see what other people in your area are saying about their providers.

I do agree with Vista though, when it comes to the Comprehensive it is best to just take full Comp instead of a broken down version of it.