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Main Area => General GS500 Discussion => Topic started by: shep_bannister on November 13, 2003, 05:31:16 PM

Title: Motorcycle Insurance: Actuarial quirks
Post by: shep_bannister on November 13, 2003, 05:31:16 PM
So I was day dreaming about this 1998 Honda Interceptor that I found for sale near me, and decided to go see what the insurance on said beauty would cost me.

I decided to start at Progressive.com, since they have online quotes and are a pretty popular company.
I tell them the following:
28 years old
Single
Rent Apt
Primary location: 98101 (Downtown Seattle)
$500 deductibles for collision and comprehensive.

Result?  $1350 per year.  

I was stunned.  So I redid the form, but this time I changed to married and homeowner and ended up with $990 per year; significantly lower.

I do it again, changing primary location from Downtown Seattle to Fall City (more rural area, about 30 minutes away), leaving married and homeowner and end up with $699.  

For my 4th and final quote, I keep everything the same as #3, but age 7 years:  $450.

That's $900 cheaper  for getting a little older, getting married and buying a house in the suburbs.   :bs:

Have you kicked your insurance agent today?  :guns:
Title: Motorcycle Insurance: Actuarial quirks
Post by: bbanjo on November 13, 2003, 06:05:54 PM
If I didn't live in Philly, my Agent would have to pay me  :thumb:

36
Married Homeowner
Spotless driving record in 20 years of driving (Key: Wheelie through the red lights so the camera doesn't get your plate)
One murder conviction
(did I say that out loud?)
Like Scrapple
Title: Motorcycle Insurance: Actuarial quirks
Post by: cozy on November 14, 2003, 01:26:17 PM
Quote from: bbanjoLike Scrapple

You had me until you said scrapple. I've been here 16 years and will still not eat that stuff. Try philadelphia sushi sometime(when you're drunk) - get a slice from Lorenzo's at 3rd  & south and wrap it around a Jim's cheesesteak. OR you could try Fishtown Surf & Turf - Katfish & Killbasi  :roll: .
My insurance is $79, but that's bare bones.
Title: Motorcycle Insurance: Actuarial quirks
Post by: john on November 14, 2003, 02:01:32 PM
$600 full coverage gsx-r600 35 yrs old, homeowner, burbs.

What can I say?  It pays to be an old fart with an affinity for sportbikes :mrgreen:
Title: Motorcycle Insurance: Actuarial quirks
Post by: jtenright on November 14, 2003, 02:26:55 PM
I added my bike to my parents plan, and b/c the bike is my primary source of transportation it lowered my insurance cost by $50 a year
AAA insurance
I have not taken the saftey course yet either so that might lower it a bit more
I also have a clean driving record, w/ good student discount

I was gonna start my own progressive account and it would have been 1-2K which is rediculouse, b/c my share of the insurance is only like 1.3K a year for coverage on my 93 GS500, 87 Toyota truck, dad's and my 01 Audi A4, dad's Chevy suburban.
Title: Motorcycle Insurance: Actuarial quirks
Post by: shep_bannister on November 14, 2003, 02:30:28 PM
It's funny, I just got my gs500 quote from Progressive, and it was also 1000+.  1024 to be exact.  My current plan is with Markel (www.bikeline.com) and I only pay $200-something per year.  

So perhaps Progressive is the problem here.  I guess they just don't like young, single city dwellers.
Title: Motorcycle Insurance: Actuarial quirks
Post by: rideLIKEjehu on November 14, 2003, 02:36:28 PM
just got insurance thru progressive today ... 25k/50k liability for $135 a year.  that's one good thing about being a 28 year old married suburban homeowner!
Title: Motorcycle Insurance: Actuarial quirks
Post by: bbanjo on November 14, 2003, 06:20:17 PM
Quote from: cozy
Quote from: bbanjoLike Scrapple

You had me until you said scrapple. I've been here 16 years and will still not eat that stuff. Try philadelphia sushi sometime(when you're drunk) - get a slice from Lorenzo's at 3rd  & south and wrap it around a Jim's cheesesteak. OR you could try Fishtown Surf & Turf - Katfish & Killbasi  :roll: .
My insurance is $79, but that's bare bones.

I like the sushi. For a few years, back in the day, a band I was in played at Dobbs (Pontiac) a few times a month. I lived on Lorenzo's. Where a slice is a meal.
Title: Motorcycle Insurance: Actuarial quirks
Post by: Sportbilly on November 14, 2003, 07:06:33 PM
Married, 29, homeowner, central Wichita  ZR-7.   $216 Comprehensive and Collision.   :mrgreen:
Title: Motorcycle Insurance: Actuarial quirks
Post by: Cal Price on November 14, 2003, 09:57:38 PM
Title: Motorcycle Insurance: Actuarial quirks
Post by: Rich500 on November 14, 2003, 10:23:56 PM
My insurance on my '02 GS500 is $1200/year for 02-03. for next year, it droppped to below $1000. Insurance on my Camaro is $6500/year. :cheers:
Title: CA...
Post by: The Buddha on November 16, 2003, 08:36:08 AM
I have seen Progressive is cheaper in CA, expensive in all other states... (almost all states) In NC its like 10 times more than CA...  :?
Cool.
Srinath.
Title: Motorcycle Insurance: Actuarial quirks
Post by: clkeith50 on November 16, 2003, 09:11:47 AM
That's because Progressive (and all other insurance companies) don't operate as 1 company. They're actually 50 small, individual companies. Each state is different. You can't compare rates between different states because they're different companies, even though the name is the same. Here in Texas I usually use Dairyland or Markel, depending on which one has the cheapest rates that year. Right now, for basic liability, Markel is at $33/yr and Dairyland is at $37/yr.