LOL none of his business what they were valuing his bike at? I would have been at their office like a maniac telling them it was my business!! LOL. People suck.

 

mine went down $100 this year after totaling a bike in 14. i wasn't expecting that, but i'm gonna run with it for now.

 

When I bought the breakout, called Flo to see what the increase would be, gave all particulars except vin. Advised it was added to the policy I had. Rate was like 480 per year quoted. Signed all the papers, called with vin, rate jumped in one day to 980 per year. Told Flo no thanks. Dealer had Dairyland agent, they provided more coverage and even less than the 480 original quote. Been with them ever since. No Mo Flo!

 

I have progressive and my payment for my street glide special was 68 dollars a month. I bought a 16 rgs and they said 77 dollars a month and I was cool with that. Next thing I know I was getting raised to 119 a month for no reason. Never had a claim or an accident in 15 years. Knock on wood !!!!

 

So as an insurance broker I feel I should chime in...

There are about 100 things that go into calculating your insurance premium. Each factor in this list changes your premium. The obvious ones are...

Age
Single or Married
Education
Job Description
Address
Type of Motorcycle(s)

There are also some less obvious ones.

1. Credit score: Carriers do a soft hit but if your credit is bad you pay more.
2. Prior limits: If you have high liability limits on your current policy and you go to shop with other carriers your rates look WAYYYYYY better than someone who had state minimim limits and is looking to increase coverage.
3. Claims: This is kind of obvious, but comprehensive claims stay on your record for 3 years, and collision claims for 5 years. When you just get a quick quote, agents typically don't pull your MVR right away. It costs about $25 for the agents to pull it. But once you go to pay and they get your credit card number, and the rates mysteriously jumps from what they said it would be, it's because they either found claims on your record, or your credit isn't all that great.
4. Length of time with current carrier: This is a huge one. The longer you are with your current company, when you go to shop your rates will be much lower than if you switch carriers every 6-months. Carriers see people who jump around from carrier to carrier as extremely risky. You could have one claim for $20,000 and then jump ship to another company which sticks the carrier with a huge bill and no chance to make it back up with continued premium payments.

To save money I always recommend going with a broker who has multiple carriers. Allstate, Statefarm, etc. typically don't ever shop your coverages with any other markets. If you go with an independent agent they will shop multiple carriers and hopefully find you the lowest possible premium. Also don't switch every 6-months, try to stay with a carrier for at least 2-3 years before shopping. Lastly try not to compare your rates with other riders from across the country, you don't know their credit, driving history, family makeup, age, etc. The old adage apples to oranges seems to fit here!

 

Thanks RG, that was very educational.

 

I've been on two wheels for 50 years. I've never made a claim in regards to damage to the scooter. For the last several years it's been "musical insurance". Finally settling on Foremost ( AARP ) and was happy until last year. My renewal tripled. I was recommended Dairyland by one of the Forum members and got full coverage ( all the bells and whistles ) for $340.00 for the 2009 FLHTCU. Renewal this year was right at $300.00. This is in Michigan too. I just carry PL/PD on the FXEF.

 

I had Rider Insurance and they started me at $208 in 2012. It crept up every year until $308 in 2015, but then in 2016, with nothing changed on my end - $603 - so I switched to Progressive but that's still $378, far more than last year. I called Rider and they said they had high losses so raised everyone, although I saw the comment above from someone who did not see the 2016 raise.