Insurance - weird quotes
Stellar HDF Member
Joined: Jan 2005
Posts: 2,131
Likes: 1
From: Long Island NY
RE: Insurance - weird quotes
I also have Progressive.
50+ yrs old, no tickets, no MVAs. When I first got my 04 1200 custom State Farm said $898.00 for basic coverage. Note They also have MY House, My 2 4x4 pick ups, wifes OLD Lincoln town car [90]. Rare 1996 Camaro z/28 LT 1 drop top.
On a a whim I Called progressive ::: first quote was $382.oo for 12 months full coverage, and better coverage.
50+ yrs old, no tickets, no MVAs. When I first got my 04 1200 custom State Farm said $898.00 for basic coverage. Note They also have MY House, My 2 4x4 pick ups, wifes OLD Lincoln town car [90]. Rare 1996 Camaro z/28 LT 1 drop top.
On a a whim I Called progressive ::: first quote was $382.oo for 12 months full coverage, and better coverage.
Cruiser
Joined: Jan 2005
Posts: 189
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RE: Insurance - weird quotes
Have State Farm for all of my vehicals and property, however they have been way high on bikes in this area. I have had progressive and they have been resonable until i got the 05 RK, they wanted almost 600, went with formost same coverage for 311, 61 yo, good record, no accidents, no speed bumps lol.
Road Master
Joined: Feb 2005
Posts: 822
Likes: 61
From: Northern Kentucky
RE: Insurance - weird quotes
This is an interesting topic and one which I see discussed on all the forums. I checked with my insurance provider who is an Independent Insurance Agent, meaning he sells for a variety of companies. I have all our insurance with him:cars, house, professional liabililty, & HD. When he quoted me the HD insurance I ask him what was used as a basis for the quote. He told me in KY the quote is comprized from infomration about your driving record, experience level, size/make/style of cycle, training, and your beacon credit score. Yes your composite credit score. He explained that one of the largest losses in the motorcycle insurance business is the cycles which are stolen and burnt. Of these cycles over 85% of them are owned by persons whose credit score is marginal to poor, strange isn't it. I wonder if other states us this type of formula.
Bill
Bill
Extreme HDF Member
Joined: Feb 2005
Posts: 14,849
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From: Fortville, IN
RE: Insurance - weird quotes
ORIGINAL: paid4c4
This is an interesting topic and one which I see discussed on all the forums. I checked with my insurance provider who is an Independent Insurance Agent, meaning he sells for a variety of companies. I have all our insurance with him:cars, house, professional liabililty, & HD. When he quoted me the HD insurance I ask him what was used as a basis for the quote. He told me in KY the quote is comprized from infomration about your driving record, experience level, size/make/style of cycle, training, and your beacon credit score. Yes your composite credit score. He explained that one of the largest losses in the motorcycle insurance business is the cycles which are stolen and burnt. Of these cycles over 85% of them are owned by persons whose credit score is marginal to poor, strange isn't it. I wonder if other states us this type of formula.
Bill
This is an interesting topic and one which I see discussed on all the forums. I checked with my insurance provider who is an Independent Insurance Agent, meaning he sells for a variety of companies. I have all our insurance with him:cars, house, professional liabililty, & HD. When he quoted me the HD insurance I ask him what was used as a basis for the quote. He told me in KY the quote is comprized from infomration about your driving record, experience level, size/make/style of cycle, training, and your beacon credit score. Yes your composite credit score. He explained that one of the largest losses in the motorcycle insurance business is the cycles which are stolen and burnt. Of these cycles over 85% of them are owned by persons whose credit score is marginal to poor, strange isn't it. I wonder if other states us this type of formula.
Bill
I am a CSR for an independant insurance agency in Indianapolis, IN. Yes, most companies we write with are using credit scoring as a method of determining your rate. They claim there is a coralation between credit and claims.
Heather
Road Master
Joined: Jan 2005
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RE: Insurance - weird quotes
A State Cop friend of mine told me it is amazing the number of bikes stolen at Daytona, Myrtle, etc....that we never there to begin with.....Thier clue- watch the credit score!
BRUCE
BRUCE
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jeffreydsilver
Motorcycle Insurance Discussion
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Jun 25, 2012 05:29 PM
