Insuring 3 bikes is cheaper than 2

[Texan]

I have three bikes I insure (see the signature line). Last year when I switched to progressive, I learned that it's actually CHEAPER to insure these three bikes if I add my wife to the policy. She has her motorcycle license, but doesn't ride anymore except on the back.

Last week, I sold the Honda Shadow and went to remove it from the policy. When I did so, the rate actually WENT UP by about $75 per year. I wrote them and got some cryptic answer about why this is the case.

So, I quickly added the Honda back to my policy. So, now I am insuring a bike I don't own, which I'm sure will cause other complications. Maybe I should buy a wrecked frame from an old cheap bike and just add that one instead.

Anyway, Progressive's online quote system makes it easy to do "what ifs" and see the resulting premium.

 

[DELETE-PLEASE]

While progressive had some very good rates for me, I found that my rate went UP about 20 dollars a year for adding my wife on there. I had called to add her to get what I assumed was a "discount" and when I found out it'd go UP, I simply told the guy, "Oh. Never mind. I was just joking. I'm single as can be."

They do have some wierd stuff. I'm curious to see if when I close on my house what'll happen once I'm a homeowner! Who knows?!

Alexi

 

[Zorlac]

"So, now I am insuring a bike I don't own"

That's friggin hilarious!

I just bought a wee for the third one and I'm with Foremost, maybe I should check out Progressive and see if my premiums will go to zero for five bikes. :derisive:

 

[cometman]

Last year I had just the FJR on a Progressive policy. Paid the bill in full for the year. Then decided to add my 1982 GS750 and they sent me a check for 28 dollars since my premium went down with the multiple vehicle discount. Who knew.....lol.

 

[FJRGuy]

Do any of these companies insure in Canada? I'm getting raped by my insurance provider!

 

[NMRoadRunner]

If you want to insure a bike thats not yours, Insure mine! contact me for the information you need, and where to send me my new policy! :yahoo: :yahoo: :yahoo:

 

[DELETE-PLEASE]

I wonder how much money we'd save if we pool all our bikes together. Maybe we'll get quarterly dividend checks or something.

 

[DonRed7]

Do any of these companies insure in Canada? I'm getting raped by my insurance provider!

What are you paying? I'm @ $280 a year for liability/pass.

DB

 

[Tree Doc]

I've been with Progressive for several years now and only for motorcycles. I had 3 bikes on the policy and for that I received a 25% discount as I recall. They sent me something stating that another bike would add up to a 35% discount so I obliged by adding a little '73 Yamaha AT3 125 Enduro that I did a restoration on. Sure 'nuff, when I added it, my premium dropped from about $500/yr for all the coverages including Med Pay and extra equipment down to about $400/yr including the new machine I added.

When I did some what-if's online when looking at what the FJR was gonna cost me, it wouldn't allow me to add a 5th bike and that I'd have to start another policy. I ended up selling off one of the 4 to by the FJR so I was able to do the "Replace a Vehicle" addition. The FJR only raised my premium $90/yr so I'm at about $500/yr for premiums.

Progressive was awesome to deal with when I had my 2 Deer get-off almost two years ago and paid for everything in 3 days and there was no rate change for me.

 

[ShinyPartsUp]

My premium went up last year by $140 when I added my KLR650 to the FJR and my truck with Progressive.

 

[Tyler]

I wonder how much money we'd save if we pool all our bikes together. Maybe we'll get quarterly dividend checks or something.

Ya think Tex will adopt all of us?

 

[08FJR4ME]

I will have to look into adding the XR650 to the policy and see what happens. There will be another excise tax bill and registration to add on. Would be great to switch off once and a while. I do miss the dirt.

Dave

 

[ShinyPartsUp]

I will have to look into adding the XR650 to the policy and see what happens. There will be another excise tax bill and registration to add on. Would be great to switch off once and a while. I do miss the dirt.
Dave

What's an excise tax? Makes me miss Taxachusetts all the more -- NOT!

Do it man! having just a road bike is like eating only white bread -- there is so much more to try...

 

[chrisflock]

I will have to look into adding the XR650 to the policy and see what happens. There will be another excise tax bill and registration to add on. Would be great to switch off once and a while. I do miss the dirt.
Dave

What's an excise tax? Makes me miss Taxachusetts all the more -- NOT!

Do it man! having just a road bike is like eating only white bread -- there is so much more to try...

Man, do I ever wish I could eat what normal people would call bread...

 

[jocko87]

I've had a third truck on my auto policy for over 3 years now, ever since I sold it. I quoted the removal and saw the price go up so I've just left it alone.

+1000 on Progressive by the way, see my sig line for just a partial list of my insurance experiences and I couldn't have been treated better than with Progressive. So much so that they are getting a chance at my house this year also.

 

[Aasland]

Had something similar happen with State farm auto insurance.

Went from two to one cars, insurance went UP because we lost he multi-car discount. So we added the sold car back in, in "suspended" state and attached a dismemberment policy to it, and then we got our multi-car discount back which was enough to offset the other policy.

Go figure. It's all magic.

 

[bucky]

My guess for why an insurance company will actually LOWER you total motorcycle insurance when you add another one to your policy might depend on what you add and what you already have on the policy. For example, if your one and only bike now is an fjr and you add a little 90cc bike, your total rate would probably go down because they would assume you would spend at least some of your miles on the little bike (slower and less likely to be in an accident than an fjr). They might assume you will ride more with 2 bikes than 1 bike, but if there is only one rider in the household, that might be true, but only a little. If you went the other way, starting out with the insurance on the little bike and added the fjr, my guess is the total premium paid would go up, not down. But I could be wrong.

You really have to look around, I got quotes on dairyland and they were high on the fjr and very low on the v-star 1300 and never asked about mileage. I have Foremost (aarp) and the fjr and v-star are almost the same amount, but the total was lower than the dairyland total with identical coverage, so I am with Foremost. And I think I quoted geico and progressive and they were alot higher. I am 60, been riding forever with no tickets or accidents in the past 20 years at least (car and motorcycle).

 

[SkooterG]

But I could be wrong.

There is no logic when it comes to insurance companies.

Progressive is pissing me off. I have been a happy customer going on 6 years. VERY happy with how they handled several claims. However, now.........

Currently paying $329/yr for my 2004 ABS FJR. Fair enough. Before when I had two, It wasn't too bad. Got the multi-bike discount. I forget how much it was. 5-something?

But now, when I try to add my 2nd FJR - an identical 2004 ABS FJR the premium goes to $782!!! WTF? It MORE than doubles? And that is WITH a multiple bike discount (to the current first FJR that is added) All of a sudden they charge ridiculous amounts on the 2nd FJR. Only one rider on the policy. I can only ride one at a time for crying out loud!

A phone call, and then an email got me nowhere. The standard BS about 'the computer' and they don't know why. ********. I'll be shopping for a new insurance company soon.

 

[FJR Flyer]

No logic to it that I can tell. I had GEICO when I had my XS650. When I switched to my FJ1200 they wanted to almost triple to cost of the policy. I switched to Progressive and it was cheaper than GEICO was with only the XS650. When I got my old DT250 and tried to add it to the Progressive policy, they wanted to double the rate. It even has an historic tag with limited mileage allowed. Called GEICO and it was cheaper for the two bikes than it was for the FJ alone with Progressive.

Makes no sense. Seems like if you switch every couple years you get a better deal.