State farm likes FJR'S

[Clark Kent]

Double post. Sorry about that.

 

[Scab]

I'm just hoping that I don't get cancelled at renewal time. I only had State Farm for two weeks when this happened.

 

[Clark Kent]

I'm just hoping that I don't get cancelled at renewal time. I only had State Farm for two weeks when this happened.

Possible not. If they had wanted to cancel you they could have at any time they wanted to. They do not have to wait until renewal.

You may be ok.

CK

But I'd start praying just the same.

 

[SecuLaw]

My mailbox held a small suprise today. A 29.30 rebate on my FJR insurance premium due to lower than expected loss ratios on this motorcycle. This is a good thing since insurance companies share information. It sure cant hurt in keeping the rate reasonable on a 1300cc bike.
Now I am going to wait and see if they like my VFR or KLR as well.

I have been in the Ins. business for over 40 years. I truly feel sorry for those claiments who helped State Farm obtain,

a "loss ration lower than expected". I can assure you they got "less than they were entitled to"!

CK

Bingo!.. I had an executive vice-president at State Farm tell me (about 10 years ago) that under certain auto policies they always refused to pay medical expenses because most insureds wouldn't fight the denial of the claim. The actuaries determined that those few who hired lawyers who forced State Farm to pay didn't offset the amount saved by just out and out denying the claims. This Ex. V-P was proud that his actuaries could calculate the potential exposure.

 

[Scab]

Bingo!.. I had an executive vice-president at State Farm tell me (about 10 years ago) that under certain auto policies they always refused to pay medical expenses because most insureds wouldn't fight the denial of the claim. The actuaries determined that those few who hired lawyers who forced State Farm to pay didn't offset the amount saved by just out and out denying the claims. This Ex. V-P was proud that his actuaries could calculate the potential exposure.

We call those "Bean Counters."

 

[SecuLaw]

Bingo!.. I had an executive vice-president at State Farm tell me (about 10 years ago) that under certain auto policies they always refused to pay medical expenses because most insureds wouldn't fight the denial of the claim. The actuaries determined that those few who hired lawyers who forced State Farm to pay didn't offset the amount saved by just out and out denying the claims. This Ex. V-P was proud that his actuaries could calculate the potential exposure.

We call those "Bean Counters."

Actually, actuaries predicate, bean counters confirm.

 

[motopimp]

When I recently transfered my existing BMW(sold) policy to the newly acquired FJR and questioned the 33% increase in yearly rate. I was told State Farm calculates thier motorcycle policies based solely on CC.(I still can't buy this) I then questioned how can you charge a touring bike ridden by a typically more (cough)mature crowd with a lower theft rate and ABS the same premium as a Hayabusa which has much larger crash statistics and one of the highest theft rates going? "State Farm has been insuring motorcycles for a while and has come to the conclusion that methods works best." FOR WHO, your corporate fat cats and 'busa owners ?!?! Then I got the S.F. is actually not interested in insuring bikes they only do it as a convienence for customers who are already holders of auto policies.

Time to shop in preperation for when this policy expires. (only reason for the wait, for those of you not in Michigan is we have what is basically a socialized insurance fund called the MCCA(which motorcycles are 99.9% exempted from collecting against) which now has risen to add $140 collected through the insurance companies by the state on top of your premium. If I change companies mid-policy I have to pay that for the second time this year.