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2002 Dear VTwin Mama, PS. I am all about wearing a "gypsy" style scarf. : ) – Tcool Dear Tcool, So I went on the Internet and also found Markel American, which seems to have been in this business for over 30 years. That's probably worth checking out. Just as a side note, my local independent insurance office gives me an extra discount because I also insure my house and car through them. So that's another angle. Just like a car, or anything else that needs insurance, check around! The two sites I mentioned have quote calculators right there, a useful tool to use. – Mama Tuesday, March 19 I have full coverage on my 2001 Honda ACE 750 through Progressive. I pay $190 year. Maybe Florida is cheaper than some other places. – Shadowlady (Note from Mama: I was surprised by the cost of coverage in Nevada -- someone said it's because we are a transient state and too many people come through without any insurance at all -- sigh, my coverage was actually cheaper in Chicago!) Check out Dairyland Insurance also. – Cheryl Dear
VTwin Mama, Dear
Missy, Saturday, September 25 For Missy in Australia seeking insurance on her bike for a track day course: Damned hard to find a company that will insure your bike for track days . . . but if you do, let me know. I know a few people who will NOT do track days because they cannot insure their bikes! – Kevin in Australia (note from Mama: once again, thank you for taking the time to share so many thoughts and helping out! Each piece of the puzzle is better understood when we have more information!) Tuesday, June 28 Dear
VTwin Mama, Dear
Jabezgal, Tuesday, August 30 Dear
VTwin Mama, Dear
Holly, While getting a running bike is cool, it's not if the bike is hot in some way. I'd stay away from this until your friend can solve this . . . it shouldn't be your job, especially if you're going to hand over money for the bike. Readers who see this as legit and have lost title ideas, it's time to chime in! I looked at the Title Service mentioned and that seems an expensive way to go . . . – Mama Thursday, December 22 Dear VTwin Mama, Is there a good site for information and suggestions on motorcycle insurance? I've heard Progressive is good, but I'm curious if there is a good site out there that goes into depth on what all the various types of insurance mean, and how much of each should you have. Thanks for everything, – Ben Dear
Ben, We've never really gone into too much about insurance at this site in the past, so let's take a look. I found some basic information at the Insurance Information Institute which explains the different levels of coverage and what to consider. For my money, I consider the absolute bare minimum a particular state requires and bump it up a notch (this is the liability portion). If the bike is newer, I go for comp/collision as well with deductibles that keep the costs within range of my wallet. If the bike is a beater, that's maybe not such a big thing, but in either case, you want to figure out what you would need to cover theft, which is in the comprehensive coverage portion (it's easy to lift a bike into a vehicle and steal it, and that's a real problem, and as it will be your sole transportation, you want to make sure about this). So, yes, Progressive is the big name in the m/c insurance game, but there are others. I would make a chart on a piece of paper, and list the various things (liability, collision, comprehensive, uninsured, underinsured) in the left column, and note the minimums you have to have with added lines for the next level, and then make columns for each company you might consider (like Progressive, Geico, Foremost, etc.). That way you can take apples to apples and keep all of it straight. The WebBikeWorld site offers a good page on insurance, pointing you to sources of information and lists the U.S. companies that offer m/c insurance. This would be a good place to start your online search. – Mama Dear VTwin Mama, The booker quoted me: full coverage is $1717 per year because I have driving record on the car, before, without driving record, is $1200 per year. $500 difference. Even though I got the safety certification on the bike. Is it true??? Thank you for your help, – Bruce Dear Bruce, It does no good to lie, because if they find out, they can cancel your insurance. In looking at course certifications, there is no promise that premiums will be reduced, just that some companies may offer reductions, and of course, that is fully within their discretion. It sounds like you've enlisted the help of an independent insurance agency to look for a company to insure you and your bike. I would go one extra step and more fully explore things. For instance, as a male, if you are 25 and under, the premiums may automatically reduce upon reaching a certain age (I think it's still 25). Also, your driving record will eventually clear the points (depending on the violations), and understanding the timeline of that will help you discuss your motorcycle insurance with greater confidence. For instance, if $1717 is the best that can be done now, when can you expect reductions down the line? If your driving record is clear for a year, will that have an impact? So, what will have to happen with your overall driving to bring premiums down? Although independent agencies are fine, you may wish to contact the top insurers on your own (they'll have toll free numbers) like Progressive, etc. It might be that if you switch your car insurance to that company, the motorcycle deal will be less expensive. It's hard to say, as the car insurance may bump up. Of course, insuring the bike for just the bare-bones minimum that your state requires would bring down the premium, but I'd be careful on that step, especially if you have a newer bike. Given the amount of money involved, I would make a chart and start dialing out and comparing different ways to go until you're satisfied that you have the best deal possible. It's a pain, but well worth your time. – Mama Wednesday, April 5 For Bruce who is trying to noodle out motorcycle insurance: I just thought I'd chime in as well as saying that you are right (as you probably always are) about going directly to the big insurance companies. [hee, hee, nope, sometimes I have to give myself an Ann Landers "wet noodle" and why reader responses are so important to the VTwin Mama site!] I went with Progressive, full coverage and high limits on everything, and only pay a little under $300, which is as good as the brokers I was calling could do. Funny thing is, Geico wanted over $700, which meant that they wouldn't save me 15%, but rather, charge me more than twice what Progressive wanted. I got tired of getting tons of Geico emails after getting a quote and wrote back suggesting that "I would be more likely to purchase insurance from the Lizard if he wasn't getting smoked on his moped while Progressive was riding a Harley in the proverbial quote race." I never got another email from Gieco so I guess they got the point. I wonder if Bruce might have something that says "sport" as part of its title. Sport bikes are extremely high to insure as I'm sure many know, partly because of all the expensive body work. But even "sport tourers" tend to get slammed. My MSF instructor said he tried to insure something that was more tourer than sport and he wasn't some teenager who wanted to go 120 mph, but because of the "sport-tourer" in the name, he was going to have to pay huge bucks. Also, I know that Progressive uses a credit history to determine rates as well, which is one reason they don't seem to care if you've taken a motorcycle course or not. I called them and asked about discounts after taking the course and they told me about the credit check. – Ben (note from Mama: you've got a wicked sense of gecko humor! Thanks for pointing out the possible connection to a sport-style bike . . . that didn't occur to me as I've never had one in that classification. In doing a little research, it is indeed suggested that not just the bike age, predicted miles/year, and parking situation affect premiums, but the type/style of bike does as well. I'll add that at some companies, if you are a northern state rider, you may qualify for a "lay-up" policy, which keeps just the comprehensive coverage in place during winter no-ride months, thus reducing the premium to some degree . . . just make sure you're actually not really going to ride!) Dear VTwin Mama, I have since called Progressive back and they did mention something about emissions. However, after talking with the dealer on Ebay that I purchased the bike from, the emissions meet all EPA and government standards on the 2005 LF250. However, there have been some issues with the 2006 model regarding emissions which they are working out right now. But my model is in fact the 2005. So the emissions shouldn't be an issue. – Maria, Confused in VA Dear Maria, Yesterday I had a wonderful chat with Marcy Gray, Product Manager for Progressive's Motorcycle Insurance Products (she oversees all m/c issues and just got a HD NightRod after recently selling her BMW and has been riding for over 30 years). It turns out the imported bikes are difficult to value and calculate depreciation on in case of a total loss as the imports are relatively unproven commodities. Then there is the issue of parts and service, and she noted that in some cases, yes, emission standards can gum up the works. This is all even more true of the smaller cc engine ATVs, scooters, and yes, motorcycles. On top of everything else, training thousands of agents nationwide is a huge task, especially on something that isn't more of a standard here in the states. In many cases, Progressive agents will turn to the NADA guides for value, but you won't find Lifan in there. So now we see the agent's hands tied. Marcy went on to say that she is constantly revisiting this issue as more and more imports from around the world arrive in the U.S. and gain popularity. I'll stay in touch with her as the VTwin Mama site is getting more and more questions about imported bikes. – Mama Tuesday, May 30 More for Bruce who was trying to noodle out motorcycle insurance: I also went to Progressive Direct and for 2 bikes (full coverage) we pay $611 a year. My bike is a Sportster 883L and my husband's is a Dyna Superglide. So it just depends on your record as to what you'll pay. (note from Mama: thanks for chiming in!) Wednesday, May 31 More for Bruce who was trying to noodle out motorcycle insurance: I recently went to purchase insurance for my new Sportster 883. I went directly to the Progressives website and determined what the price would be, then asked my insurance agent to provide the same insurance through Progressive. Low and behold, the price was several hundred dollars more! So a word to the wise -- go directly to Progressive and bypass your agent. It's easy, quick and much cheaper. Thanks for the great site. I've learned tons. – Myrt (note from Mama: wow, it looks like it's worth researching this chore well!)Tuesday, July 25 Dear VTwin Mama, Dear Bobbye, Saturday, August 19 Dear VTwin Mama, Dear Sandy, Thursday, August 24 Dear VTwin Mama, Dear Sherri, Given that motorcycles are often "unseen" by motorists (cage drivers), and accidents can occur, our added vulnerability to injury would be compounded (financially) if the other vehicle was driven by someone without insurance (a horrible reality, but a reality none-the-less). Someone who rides with the bare minimum required
insurance in that state may be trying to save $$ (for all sorts of
reasons) . . . but are betting that nothing bad will happen. I don't think
that's realistic. But everyone has the right to gauge the risk and choose
accordingly. –
Mama Dear VTwin Mama, Dear
Anon, Thursday, June 21 Dear VTwin Mama, Here's the
breakdown: Today we bought an '07 Street Glide (20th anniversary gift for him) and our 12 month take on this would go to $1174 a year. Okay, what am I doing wrong? I know guys around here that have almost zip for payments. Am I going to high in the areas? HELP. Need to decide so we can pick up the new baby tomorrow. Thanks. – Sharon Dear
Sharon, I personally think it has a lot to do with uninsured motorists . . . there are just so many, and when they hit you on a motorcycle, the possibility of vehicle damage and personal injury can be higher than an auto-to-auto collision. You are not doing anything wrong . . . you are taking into account your comfort level of insurance should something go wrong. What I have done over the phone is get the quote for the bare minimum that a state calls for. Then I upgrade each section one step at a time and ask for the premium change and I note in a chart how the price increases. Then I decide between coverage and cost. Then I cry when I write the annual check. It's not a cheap sport! In a recent renewal on my policy, it was noted that I'm not getting Progressive's best discount rate . . . that's because I don't have any loans on vehicles or homes (I own everything outright and bought for cash) . . . not having loans on the books actually throws insurance companies into a quandary . . . you don't fit the "norm" consumer profile and there isn't anything they can do about it as they follow government "standards." I had to chuckle on this because it's sooooo unfair, but I'm unable to change anything! – Mama Tuesday, June 26 Dear Readers, |
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