Insurance - Pleasant Surprise!

[HotRodZilla]

Just got the insurance increase for my 2015ES. Up 93.52 per year from the 2004. I
I called my agent and he is looking into the rate. Consequently he sub insures it with Progressive.

So he really has no control over it.........at least that is what he says.

You just went up 11 years in replacement cost. You are surprised your insurance went up? It went up less than $8/month.

 

[bigjohnsd]

$100 per year additional for a new bike Seems reasonable to me, their loss risk has changed considerably. If you crashed the old one else you might collect $5K, if you crash the new one, about the same likelihood, you wouldn't be happy with that same payoff would you?

 

[Cav47]

$100 per year additional for a new bike Seems reasonable to me, their loss risk has changed considerably. If you crashed the old one else you might collect $5K, if you crash the new one, about the same likelihood, you wouldn't be happy with that same payoff would you?

The 100 dollar increase is only partially my "complaint" I I would have crashed the 04, they would not have even been close to the 5K amount. Consequently, If I ditched the 15, there is no way they would be giving me a comparable amount to purchase what I have now. My deductable is 1,000 for collision and 500 for Comprehensive. In my one dealing with Progressive, I feel like they did not treat me well enough. The insurance company employees all agreed that the accident was caused by the other party, but charged me for the accident because the other guy lied about his involvement.

To insure my 49cc Honda Spree and FJR is 266 per 6 months. That just seems too high. Maybe I am off base about it, but Insurance companies procedures have made me distrust them.

Okay, Rant over.

My FJR is awesome

 

[roger dodger]

One of the variables in bike (or car or home) insurance is location. If your area has lots of accidents, your premium is higher due to the (other guys ) claims.

I found out @ Dairyland, you can get discounts for being a member of a riding group (COG) and/or AMA and/or taking an MSF Advanced Rider Class.

So I got 2 discounts so far. Maybe 3 this year.

 

[Fred W]

Another variable is the company. I was perfectly happy with Progressive's policy for my bikes. I liked that they allowed me to modify my policy myself, from the comforts of my own desk with their online access, since I was buying and selling bikes fairly often at that time with up to 4 bikes on the policy at a time. And I was treated more than fairly by their adjuster when I smashed up my '05 FJR beauty hitting a deer (legally the deer hit me, so it was covered under the comprehensive coverage, not collision).

Then I bought my 2014, and the premium they quoted me on that bike more than doubled what I had been paying on 4 bikes previously. I told them there must be a mistake, but they checked, and their "tables" showed the higher liability on the 2014, as if it was a Hooligan Hoon bike of some kind. Maybe because it's red?

I got a quote for my bikes from Allstate, which had never been all that attractive before, but they gave me a rate lower than I had with Progressive before adding the 2014.

Moral of the story: Shop around. The companies are banking on us all being lazy and just sticking with them because we've been a prior customer.

 

[bigjohnsd]

As a Mature, and therefore much more responsible rider, I pay a whole lot less than you to insure my 13 FJR and 09 KLR. I get discounts from American Family for being a good rider/driver, having multiple vehicles insured and for having my homeowners insurance through them as well. I also have $500 collision and comprehensive deductibles.

I guess you'll just have to ride responsibly and grow a little older Josh.

EDIT: Just reread your post and noted the $266 per six months. You're getting screwed unless you have some performance awards? Iws your teen aged son excluded from operating your motorcycles? If not and assuming he is on your family policy there may be some bleed over occuring from that.

 

[FJRay]

Been with State Farm for many years without issue but I'm shopping mine around right now to see what's out there. In my shop the Progressive adjusters have been the best to deal with and have the most knowledge.

 

[bigjohnsd]

I think a guy has to shop it about every three years to keep the honest folks honest.

 

[HotRodZilla]

Some very good friends of mine own a body shop. Easily one of the best in the entire SW. They do amazing work. The last time I took my truck in, after some clown at the lake, modified my door, I saw a sign on the wall that made me laugh. I even took a picture of it but have since deleted it.

It basically listed most of the "Discount" insurance companies like Geico, Dairyland, The General, a local Fred Loya, and some others, that will only pay for aftermarket non-oem parts, requiring a less than perfect repair. It stated the shop will not use sub-sub-par parts, so customers with those insurance companies may be responsible for the difference between what their discount insurance will pay, and what a proper repair will actually cost. State Farm, Allstate, USAA, and other good insurance companies were not listed.

I'll say this: I do not want aftermarket, crap parts on my vehicles, and if my insurance company is requiring that, no matter what I'm paying, it's too much. Good insurance is defined by more than monthly cost.

 

[DennisJ]

I have shopped my auto, motorcycle and homeowners every two years for a long time. If the difference is more than 10% I will change insurers. If I can get a better overall total by placing one of the policies with a different insurer I do it. Takes a little bit of time but I think it is worth it. I think the insurance companies track how long you stay with a single insurer and the yearly nickel and dimming premium increase add up over a couple of years.

 

[Cav47]

I do not have any performance awards. (Knock on wood) Nor do I have any "my fault claims". I think I need to check into the idea that my son is on the FJR. I know he is on the scooter, but that only has liability on it.

Thanks for the info.

 

[Abercrombie FJR]

Josh, a $94.00 increase seem like an incredible deal. I know every time I trade up a bike, Progressive gets a little greedy the first year or two but the rates seem to quickly return to the previous lower rate. My 2014 FJR premium is back down to $282.00 annually with $0 disappearing deductible.

The way I was treated when I hit a deer with the Tenere and garage dropped the Ducati two years ago is the reason I won't be looking anywhere else for insurance. They payed more generously than I could have ever dreamed and replaced all my accessories at my cost. Blows me away that they would pay me full price for the two year old gear I was wearing. They didn't bat an eye paying when I gave them a list of a Shoei Hornet helmet, Klim Lattitude coat / pants, Sidi boots and gloves totaling close to $2000.00.

 

[Cav47]

My rates have been steadily climbing on the 04 and then jumped up 93 dollars with the with the new bike. The 93 doesn't really bother me as much as the steady climb has. One idea should be that since the cost of the bike is reducing, so should the cost to insure it. I think I was given a competitive rate to begin with from my insurance guy. Then, as John said, I have been lazy and not checked around.

No one else in my family can ride my cycle, so there should not be any residual increase on the motorcycle for others in my family due to them, The scooter is different because my son can ride that due to the fact that a different license classification is not needed to legally operate that. But seriously, how much should it be to insure?

Like I said 266 ever 6 months is high. And never mind, that it is both the FJR and the Spree, I can only ride one at a time. And my kid now has his own car that he gets charged for and he can only drive one of them at a time. Meaning we should not be being charged the primary amount on 2 vehicles at a time for him.

I have trusted my insurance guy but in reality, the increased payments on the cycle have nothing to do with him because of it going through Progressive.

I will be inquiring soon about an exact breakdown and explanation of each vehicle. Thanks for the insights, it has made me think and question their process.