Insurance question.....
Extreme HDF Member
Joined: Apr 2006
Posts: 11,317
Likes: 11
From: Tucson, Az
RE: Insurance question.....
Telling me how low your rates are doesn't mean diddly squat. What is important to know is what your coverages are. Do you want to ride with $10,000.00 property damage liability coverage? If you totaled out my Miata you'd be in the hole. Do you want to ride with $25,000.00 Bodily injury coverage. If you killed me you would lose your house and everything you owned. Do you want $10,000.00 medical coverage. That might cover you one or perhaps two days in the hosptial.
As previously stated, the important thing is the "amount" of coverage you have.
As previously stated, the important thing is the "amount" of coverage you have.
Ultimate HDF Member
Joined: Jan 2007
Posts: 8,750
Likes: 261
From: back home in Michigan
RE: Insurance question.....
I would advise talking to someone well versed in insurance for your area. Not only do insurance rates vary by state, but there are some parts of limitations and liability coverages that are and are not necessary given that you are insuring a bike and not a car. An insurance agent is a salesman and may not have your best interest at heart.
Former Sponsor
Joined: Mar 2007
Posts: 733
Likes: 0
RE: Insurance question.....
Here is the low down, there are numerous factors to detrmine your premium, I have been in the insurance industry since High School. Your best bet will be with progressive as far as rates go. To determine your rate your age, driving record, type of bike and years of riding experience, and with some companies your credit record will give them your rating factor. Now here is the kicker, depending on the part of the country and the state you live in will dramaticly change your rate, unfourtantely for you, you are not in an insurance friendly portion of the country.
You need to go with a company who specializes in motorcycle insurance, your rate will soley based on motorcycles, not all motorized vehicles the company insures. You need to also check your state laws, if you have unisured/underinsured motorists on your automobile policy, you may not need to duplicate this coverage on your motorcycle policy.
to give you an example of differences in companies, the rate on myself with my 07 RK gieco quoted $1186 a year, progressive $453.00 a year exact same coverage.
Pm me and I can go a little more in depth on the phone. Sorry for all of the spelling errors
You need to go with a company who specializes in motorcycle insurance, your rate will soley based on motorcycles, not all motorized vehicles the company insures. You need to also check your state laws, if you have unisured/underinsured motorists on your automobile policy, you may not need to duplicate this coverage on your motorcycle policy.
to give you an example of differences in companies, the rate on myself with my 07 RK gieco quoted $1186 a year, progressive $453.00 a year exact same coverage.
Pm me and I can go a little more in depth on the phone. Sorry for all of the spelling errors
Road Warrior
Joined: Dec 2006
Posts: 1,573
Likes: 138
From: StL, MO. USA
RE: Insurance question.....
I have State Farm, and they have always provided good rates...
I just called to get coverage on the Road King and was quoted $360 a year. That was adding some additional $$$'s to up my medical coverage for un/under insured motorist.
Be lucky you are not asking the same question on a sporkbike forum. There were several guys that were tossing-out rates of $5-6 K a few years back on the Yamaha R1 forum.
I just called to get coverage on the Road King and was quoted $360 a year. That was adding some additional $$$'s to up my medical coverage for un/under insured motorist.
Be lucky you are not asking the same question on a sporkbike forum. There were several guys that were tossing-out rates of $5-6 K a few years back on the Yamaha R1 forum.
Road Captain
Joined: Feb 2007
Posts: 728
Likes: 0
From: Brooklyn NYC
RE: Insurance question.....
number one thing that effects the cost iz ur zip code. PERIOD. haz nada to do with much else.
i live in NYC forget about what the charge me. you wanna play ya gotta pay. sux i know.
i live in NYC forget about what the charge me. you wanna play ya gotta pay. sux i know.
Banned
Joined: Sep 2005
Posts: 4,341
Likes: 0
From: Dover, Oh
RE: Insurance question.....
ORIGINAL: Cryptoboy
Do a search, this subject has been beat to death about once a week! It varies on all kinds of things; credit score, location, single/married, kids, income, type of dog you own.....
Two identical twins with the same exact situation with the same bike, living next door to each other could get drastically different rates.
Do a search, this subject has been beat to death about once a week! It varies on all kinds of things; credit score, location, single/married, kids, income, type of dog you own.....
Two identical twins with the same exact situation with the same bike, living next door to each other could get drastically different rates.
I just renewed my home owners insurance on one of my houses and I had to sign an addendum saying that the new rates are based on my credit score. I said well my rates went UP!!!! I said I want the break down of where the Tiers are for credit scor as my rates should stay the same if anything. Of course, they have nothing to provide...
Outstanding HDF Member
Joined: Jun 2006
Posts: 2,728
Likes: 1
From: Olympia, Washington
RE: Insurance question.....
First of all, get rid of the notion of "full coverage" -- it's a bogus term."Full coverage" means you have every potential loss covered for maximum dollars and nothing's excluded.Some motorcycle policies don't write what's called PIP (personal injury protection), so you're already in the hole. Your rates depend on a lot of things as previously stated and also include WHAT you opt for and HOW MUCH of it you want to pay for. WHAAP pointed a lot of that out already.
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Grand HDF Member
Joined: Apr 2005
Posts: 4,022
Likes: 3
From: Hudson Valley- NY
RE: Insurance question.....
If I'm not misaken, the good government of MA sets the rates that are charged. If that is the case, then you won't find much difference between the various carriers. When you're comparing companies and prices, be sure to get a quote for the exact same coverages and limits. A cheaper rate that does not include SUM (supplementary underinsured/uninsured) motorist coverage, passenger liability coverage, etc. etc. is only good as long as you never have an accident. From my experience, you DO get what you pay for and finding out that the cheapie policy provides $hit for coverage is not what you want to wait to find out until an accident happens.
