Insurance Companies and Cost
#11
07-13-2018, 10:14 AM
I just bought a 2018 Tri Glide. Full coverage, $250 deductibles, $404/year through Nationwide. My broker priced it out thru five different companies, and got rates as high as $1100/year. There are so many variables involved with insurance, it is virtually impossible for owners to compare rates from different states. Just some of the rating factors include: Age, marital status, experience, credit rating, claims history (yes...there is a nationwide database that keeps track of that), zip code where garaged, etc. On top of that, each state has its own requirements on minimum policy limits, and filed rate structures. Same guy, same bike...you'll pay a vastly different premium in Los Angeles than Des Moines. Keep your broker/agent honest, and check rates at each renewal.
The following users liked this post:
WartHoggy (07-13-2018)
#12
07-16-2018, 06:13 PM
Seasoned HDF Member
I live in Michigan and we have the second highest rate of vehicle insurance in the country.
We have "uninsured motorists coverage" and in addition to paying for that and for the motorcycle, we also have to pay an additional fee (almost $200) on every insured vehicle.
I'm a "senior" with nearly 50 years of riding experience (never a claim), no accidents, my last moving violation was in '81, have a perfect credit score, married, live in a rural area and the insurance on my CVO Ultra is slightly over $ 730 annually and that's the best rate that I can find!
We have "uninsured motorists coverage" and in addition to paying for that and for the motorcycle, we also have to pay an additional fee (almost $200) on every insured vehicle.
I'm a "senior" with nearly 50 years of riding experience (never a claim), no accidents, my last moving violation was in '81, have a perfect credit score, married, live in a rural area and the insurance on my CVO Ultra is slightly over $ 730 annually and that's the best rate that I can find!
#15
11-22-2018, 07:11 PM
#16
11-22-2018, 10:39 PM
Pretty much, my 4 yr old Super Glide is $860/yr with Progressive. Half of my insurance premium pays for uninsured motorist coverage. Odd since everyone in NV is required to have car insurance. Tells you something is wrong with our system, I pay so deadbeats with no insurance can drive. California also has mandatory car insurance that 20% don't have.
#17
11-25-2018, 07:41 PM
Seasoned HDF Member
There are a ton of factors that come into play with insurance rates.
Year model and valve of bike.
Area you live and ride in.
Riding history Training
Accident History / Driving record
Miles ridden per year
Deductibles and Coverage Amounts
Credit Score
I'm not an insurance guy but I have paid a TON over the years. Shop around.
Year model and valve of bike.
Area you live and ride in.
Riding history Training
Accident History / Driving record
Miles ridden per year
Deductibles and Coverage Amounts
Credit Score
I'm not an insurance guy but I have paid a TON over the years. Shop around.
#18
11-25-2018, 08:48 PM
Road Master
If your paying more then $400 a year for bike insurance, then one of three things.
1. You have a bad driving record
2. You have bad credit
3. You are loyal to an insurance company to suck every penny they can out of your pocket.
Man, its so easy to switch insurance companies. Why even post questions in forums? Get out of the forum, type into your web browser motorcycle ins and start getting quotes and start saving hundreds of dollars.
If you did this for all products and all of your ins, it may even pay for your motorcycle, like it did my 14 Road King. Yup, free bike, by constantly switching Homeowners ins, car insurance, bike insurance, not paying for cable TV ya da ya da, ALl the crap that sucks money out of your pocket that you got used to paying and dont use.
If you believe all that crap from your current ins company about all the discounts you are getting, then I got one hell of a big bridge to sell you!
1. You have a bad driving record
2. You have bad credit
3. You are loyal to an insurance company to suck every penny they can out of your pocket.
Man, its so easy to switch insurance companies. Why even post questions in forums? Get out of the forum, type into your web browser motorcycle ins and start getting quotes and start saving hundreds of dollars.
If you did this for all products and all of your ins, it may even pay for your motorcycle, like it did my 14 Road King. Yup, free bike, by constantly switching Homeowners ins, car insurance, bike insurance, not paying for cable TV ya da ya da, ALl the crap that sucks money out of your pocket that you got used to paying and dont use.
If you believe all that crap from your current ins company about all the discounts you are getting, then I got one hell of a big bridge to sell you!
True for what you said, but the OP’s question isn’t that cut and dried. There is absolutely NO comparison between insurance coverage requirements and resulting policy premiums between any 2 states, and certainly not between SC and CA. When I moved to Texas from VA with the same bikes and vehicles and similar comp/liability/collision maximum coverages/deductible, my Texas policy through the same insurance company doubled in premium, as did my homeowners. I changed companies to get a lower rate, also moving my homeowners policy to the new auto insurer. I ultimately went with a different insurer for my bikes. When I was finished, I cut 1250/yr on my 3 autos, 500/yr on the 2 bikes, and 600/ yr on homeowners, but it took some work to make apples-to-apples comparison between the three insurance companies that I asked for quotes. Oh, and I have excellent credit, 1 no-points traffic violation in the last 7 years, and one parking lot fender-bender in my truck 2 years ago.
That said, one must be careful with bottom-dollar, cut-rate insurance companies, however. You will get cut-rate service and poor representation should you ever have an issue.
Thread
Thread Starter
Forum
Replies
Last Post