I thought it might be a decent idea if people wanted to put up their insurance information on the board to help us all put our policies into perspective. I was thinking: Company, Coverage, Cost/year, age, location, years riding experience, and driving record. I'll start!
Progressive
(http://sphotos-b.xx.fbcdn.net/hphotos-prn1/545202_10152162436095021_332814471_n.jpg)
21 yrs old
Atlanta, GA
1.5 years experience, MSF course
Clean Record
Rider Insurance (local, available to only a couple of States)
Liability only
$98.88 per year
4 years riding
no tickets or accidents
New Jersey (where everything costs more!)
Cookie
Quote from: gsatterw on January 02, 2013, 02:05:10 AM
I thought it might be a decent idea if people wanted to put up their insurance information on the board to help us all put our policies into perspective. I was thinking: Company, Coverage, Cost/year, age, location, years riding experience, and driving record. I'll start!
Progressive
Liability only
$95/yr
21 yrs old
Atlanta, GA
1.5 years experience
No tickets, one at fault car accident at 16 yrs old
might want to also state if youve got a safety course discount.
Liberty mutual
$17 a month
A few tickets on the record
Full coverage (loan on bike) $500 deductible.
Cincinnati Ohio
36 year old.
13 years riding
Safety discount
Texas with Clean Record. 31 Year Old Single Male.
(http://i.imgur.com/uK8Sb.png)
poop
20 yr old single male near atlanta GA
0 years riding experience
nothing on record
no msf course (yet)
(http://i.imgur.com/UPYor.png)
I have terrible luck, hence the comprehensive >.> Fully expect it to get stolen, or have a stray mortar shell hit it while parked.
State Farm
$50/month
Full Coverage
18 year old <- Reason price is high
CMSP Completed (California Motorcycle Safety Program, which is MSF Sponsored)
2005 GS500F With no riding experience
Progressive, 02 GS500
80 yo married male in Lake county, Ohio
with 28 yrs experience riding
Bodily Injury & Property Damage $100,000/300,000/50,000
Comprehensive $100 Deductable
Uninsured/Underinsured Bodily Injury $25,000/50,000
Total Premium $75 per year
No Collision Coverage
No MSF
I am an insurance agent (our agency does all lines commercial, health, life, personal, bonds, etc one of the largest and oldest in Michigan 90 years).
The bad part about this is states may have completely different requirements and as such will vary greatly. Also as mentioned limits and driving record, insurance type (full coverage, PLPD (Pers. Liability/Prop damage) and Comp (theft, deer, catching fire, tornado, etc) will vary this greatly.
Its going to be interesting to read however.
I have comp only on mine right now so once I get closer to summer and plan to drive I will update my post with info.
Oh and your credit score has a huge effect on insurance pricing. We have also seen some carriers start to surcharge if you have put insurance at minimums in recent years.. they have experienced higher than normal loss ratios with clients that insure only to the minimum amount (in MI its 50,000 for liability minimum, although 100k/300k is "standard"). For what its worth.
Mine with Allstate is pretty cheap because of 5 bikes, car and house.
One thing I like is $1000 coverage for add-on equipment.
I think it is like $440 for all my bikes. The 1973 TS-185 is more expensive than the 90's GS500's because it is an antique and has replacement coverage.
Each of my bikes costs about $350 a year for full comprehensive insurance. I'm a Rating 1 - have the lowest insurance possible due to my good history.
With our registration we also pay Compulsory Third Party (CTP) insurance. This is for Personal injury. It's covered anyway in my Comprehensive but c'est la vie.
Most other insurers charge $540-$580 for each bike. And one quoted me the other day $2,500 for the year for one bike. :o I asked if she had the details right and not triple price and high risk 19 year old rider. Yup. She also told me they don't normally insure bikes - I can see why.
Just for your curiosity, my rego was due. $420 for the year for my GS500 - half of that is the CTP.
So with govt rego and my own insurance it costs $770 to have a bike on the road.
Michael
Holy crap, I think I'm paying something like $625/yr for pretty much full coverage with Geico. 22 year old male with one at-fault accident 2 years ago.
I still don't think I'd touch any of these sub $100 numbers even with liability only.
Quote from: Watevaman on January 02, 2013, 06:53:10 PM
Holy crap, I think I'm paying something like $625/yr for pretty much full coverage with Geico. 22 year old male with one at-fault accident 2 years ago.
I still don't think I'd touch any of these sub $100 numbers even with liability only.
Worth a quote with Progressive...I they quoted me at $350/year with comprehensive and collision. I only have liability though, as previously stated
Arizona
Progressive
21
(http://s2.postimage.org/oj9o0z0t5/Untitled.jpg)
Insurance? Whats that? :dunno_black:
What the hell is "Anti Theft Fee"?
Was quoted for, but never purchased since I don't ride enough anymore to justify:
USAA/Progressive
20 YO male
MSF course <3 years ago
Motorcycle endorsement
Bodily Inj + property damage- 50000/100000/25000
Under-insured motorist BI- 25000/50000
$183/yr
I'll be the first to admit I'm no expert on insurance or accident statistics, but I feel like, even if I T-Bone the pants off of a Porsche, it's going to be less than 25K. The upgrade from 25/50/10 was only $23/yr, so I feel like that's a safe bet.
It's worth noting that if I take away the under-insured motorist BI, my rate drops to $98/yr. That is almost half. But my good friend Murphy explained to me that if I do end up in a seriously body-harming accident, it will always be because of someone who has no insurance. I will also acknowledge that I just lumped myself in with those people by not actually purchasing this package.
I have insurance on my car though. Give me some credit.
Insurance for Spewey when he was road legal was as follows;
CTP Green Slip $181.00
Comprehensive Insurance $212.00
25 years old, 2 years road riding experience, 7 years driving experience, Gold Membership (65% off insurance for life), no accidents, one speeding ticket which was overthrown in court, didn't have to do my Up-and-Riding Course cause I lived 3 hours away from the closest course provider. Having 2 Bikes and a Car with the same provider helps too.
My original bike, a Hyosung GV250 was about $100 more expensive to insure. Less power, less CCs, more cash.
Quote from: adidasguy on January 02, 2013, 11:01:26 PM
What the hell is "Anti Theft Fee"?
LoL i dont really know. I looked in my policy documents and couldnt find anything. I think i might call down and ask. Im hoping it means if my bikes stolen they pay for it. For a dollar a year that'd be a "steal" haha
'04 GS500F
Progressive
Liability and comprehensive with $0 deductible and accessory coverage
$29/month
23yrs old
Illinois
1 year street experience, MSF course
Clean record with no moving violations
- Bboy
'05 GS500F
American Family Insurance
26 years old
full coverage\$500 deductible
$22\month
Ontario, OR
1 yr street and dirt exp
Clean driving record
:thumb:
27 years old, clean driving record with MSF, 7 years riding experience
Chicago, 60647
2001 GS, Liability Only
Coverage & Premium Information
BODILY INJURY & PROPERTY DAMAGE LIABILITY $39.00
BI $20,000 EACH PERSON - $40,000 EACH ACCIDENT
PROPERTY DAMAGE LIABILITY - $15,000 EACH ACCIDENT
Premium by Vehicle $39.00
Policy Level Coverage
Uninsured/Underinsured Motorist Bi $36.00
$20,000 Each Person - $40,000 Each Accident
Total Policy Premium $75.00
What does your credit score have to do with your insurance premiums? If you don't pay you don't have coverage. How does your score become a liability to your insurance provider? I always wondered this.
Quote from: Snake2715 on January 02, 2013, 04:32:23 PM
Oh and your credit score has a huge effect on insurance pricing. We have also seen some carriers start to surcharge if you have put insurance at minimums in recent years.. they have experienced higher than normal loss ratios with clients that insure only to the minimum amount (in MI its 50,000 for liability minimum, although 100k/300k is "standard"). For what its worth.
When you pay by the month, you can have not paid for that month but still have coverage = liability to them. I think that's part of the reason as to why it is cheaper to pay in full for the year.
Progressive
Arizona
23 years old
2007 gs500f
Liability
Safety class completion
$115/year
Quote from: pliskin on January 03, 2013, 02:43:10 PM
What does your credit score have to do with your insurance premiums? If you don't pay you don't have coverage. How does your score become a liability to your insurance provider? I always wondered this.
Quote from: Snake2715 on January 02, 2013, 04:32:23 PM
Oh and your credit score has a huge effect on insurance pricing. We have also seen some carriers start to surcharge if you have put insurance at minimums in recent years.. they have experienced higher than normal loss ratios with clients that insure only to the minimum amount (in MI its 50,000 for liability minimum, although 100k/300k is "standard"). For what its worth.
From what I gather basically they experience more claims on individuals with lower scores. Its also more likely that policies will cancel or be underpaid, experience lapses, etc. Vehicles may be maintained to a lesser level and more liable to be in an accident, etc. I will make this clear as well, I am not working at an insurance company, we are independant agency and work with many carriers. In my opinion its also just another way for the carriers to collect more premium, etc. The first line is their main reason cited.
Quote from: jmill on January 03, 2013, 04:57:56 AM
It's worth noting that if I take away the under-insured motorist BI, my rate drops to $98/yr. That is almost half. But my good friend Murphy explained to me that if I do end up in a seriously body-harming accident, it will always be because of someone who has no insurance. I will also acknowledge that I just lumped myself in with those people by not actually purchasing this package.
I have insurance on my car though. Give me some credit.
This is a good point. While we write in every state in the US, I am not a pro at individual insurance in each state (they are others here who are). Some states you are self insuring and if you get in an accident you claim it on your own insurnace. The carrier then pays you/takes care of your/your damages/vehicle then takes the burden of going after the responsible party or their insurance.
in other states you are actually required to go after their insurance or them personally and it can take some time to collect.
PIP insurance is also a variable here, some states allow coverage for lost wages, etc. and in some states (Michigan is mine) its required. Here is some info on PIP:
http://en.wikipedia.org/wiki/Personal_injury_protection
There is also Michigan Catastrophic claims associations here in Michigan.. thats a huge charge on our auto coverage.. Here is some info on that (basically its
unlimited medical coverage if hurt in auto accident. This recently increased as well with the new no helmet required law we had put in place late last year:
http://carinsurance.about.com/od/PolicyFundamentals/a/What-Is-A-Michigan-Catastrophic-Claims-Association-Fee.htm
Insurance is all set by state and varies so much its really hard to do cross state comparisons, or even regional comparisons within states.
Quote from: jmill on January 03, 2013, 04:57:56 AM
It's worth noting that if I take away the under-insured motorist BI, my rate drops to $98/yr. That is almost half. But my good friend Murphy explained to me that if I do end up in a seriously body-harming accident, it will always be because of someone who has no insurance. I will also acknowledge that I just lumped myself in with those people by not actually purchasing this package.
I have insurance on my car though. Give me some credit.
Quote from: Snake2715 on January 04, 2013, 08:45:09 AM
Quote from: pliskin on January 03, 2013, 02:43:10 PM
What does your credit score have to do with your insurance premiums? If you don't pay you don't have coverage. How does your score become a liability to your insurance provider? I always wondered this.
Quote from: Snake2715 on January 02, 2013, 04:32:23 PM
Oh and your credit score has a huge effect on insurance pricing. We have also seen some carriers start to surcharge if you have put insurance at minimums in recent years.. they have experienced higher than normal loss ratios with clients that insure only to the minimum amount (in MI its 50,000 for liability minimum, although 100k/300k is "standard"). For what its worth.
From what I gather basically they experience more claims on individuals with lower scores. Its also more likely that policies will cancel or be underpaid, experience lapses, etc. Vehicles may be maintained to a lesser level and more liable to be in an accident, etc. I will make this clear as well, I am not working at an insurance company, we are independant agency and work with many carriers.
These are great points
It's my understanding that when you are injured by an under/uninsured motorist you will be covered by your health insurance policy after your auto insurance coverage is exceeded (but not all health policies cover auto/motorcycle riders so check). Currently I have $300,000/$500,000 and it costs me $244 a year. If I drop it to $25,000/$50,000 it will cost me $87 a year. My agent said if my health ins covers me than I'm just wasting my money on the high UI motorist coverage I now have. I'm going to drop it as soon as I confirm my coverage with my health ins provider.
Quote from: jmill on January 03, 2013, 04:57:56 AM
It's worth noting that if I take away the under-insured motorist BI, my rate drops to $98/yr. That is almost half. But my good friend Murphy explained to me that if I do end up in a seriously body-harming accident, it will always be because of someone who has no insurance. I will also acknowledge that I just lumped myself in with those people by not actually purchasing this package.
I have insurance on my car though. Give me some credit.
Quote from: pliskin on January 04, 2013, 12:06:40 PM
It's my understanding that when you are injured by an under/uninsured motorist you will be covered by your health insurance policy after your auto insurance coverage is exceeded (but not all health policies cover auto/motorcycle riders so check). Currently I have $300,000/$500,000 and it costs me $244 a year. If I drop it to $25,000/$50,000 it will cost me $87 a year. My agent said if my health ins covers me than I'm just wasting my money on the high UI motorist coverage I now have. I'm going to drop it as soon as I confirm my coverage with my health ins provider.
Quote from: jmill on January 03, 2013, 04:57:56 AM
It's worth noting that if I take away the under-insured motorist BI, my rate drops to $98/yr. That is almost half. But my good friend Murphy explained to me that if I do end up in a seriously body-harming accident, it will always be because of someone who has no insurance. I will also acknowledge that I just lumped myself in with those people by not actually purchasing this package.
I have insurance on my car though. Give me some credit.
Excellent point as well. Some carriers cover auto, some exclude it all together, some health carriers leave it up to the business that puts the policy in place. In my experience if the carrier excludes it and offers it as a "buy Up" option on the group pla its a 10% increase across the board to then include it and coordinate with the auto carrier. How HealthCare reform will change that yet I dont know, so it may change in 2014 as well, when the majority of health reform rules hit.
But yes in most cases the un and underinsured coverage is actually coverage for yourself if your involved with someone that is exactly that uninsured or underinsured. So its good coverage to have. I guess the other piece is if your health insurance is a higher deductible $5000, $10,000 +, then consider that in your decision to reduce the un/under insurance. Yeah thats a $157 a year in savings (in your example), but if your deductible is more than $200 your going to pay it there if you get in the accident with someone.. Its all about the risk and how much you can afford or want to take on. You really can never have too much coverage.
This thread is pretty interesting, so I'll pitch in.
24/M/Ohio
'02 GS500
USAA/Progressive
Yes to MSF
Violations:
Speeding
05/28/2010
Application and LexisNexis MVR
Following Too Close
02/06/2010
LexisNexis MVR Only
At Fault Accident
02/06/2010
Application and LexisNexis MVR
- Liability ($65/year)
Bodily Injury $25k/$50k
Property Damage $10k
- Roadside Assistance (+$10/year)
Total: $75/year
One other thing I figured I would bring up.. I love how the police will say well I will reduce it to ____ instead, its no points that way, just a fine.
The state accrues and counts points differently than the insurance carriers look at things. So just an FYI if you ever decide not to fight a ticket you may not have been responsible for cause its "no points" it will most likely effect your auto insurance rate.
No Seatbelt, speeding, failing to stop, DUI, etc also impact your life insurance to a large degree as well. in case you ever decide to get stand alone life insurance. Life carriers vary to some degree, but their typical look back is 3-5 years for those violations to effect your life insurance premium.
35yo with MSF.
Nothing on my DMV.
Currently with Geico priced @ $526 for 12months
You buys got me thinking and looking and with Progressive I can get BETTER coverage for less than HALF of the cost with Geico
Check it out!! Now THATS WASSUP!
(https://kb93ba.bay.livefilestore.com/y1p63Fw12HxMy_I7RnsBKU4Q5D6P87UDaVE-6qLyQ4S5RSmqmn_3pv8A95QJklNh3G92kbiR3-4kz0/Geico%20versus%20Progressive.jpg?psid=1)
Yeah I'm going to look into a quote from Progressive and see what they get for me.
A lot of people here have pretty low BI and PD coverage, though. I'm not sure if you guys have good health insurance (I have a shitty policy) but you need to realize you can cause a lot more damage with small stuff. Breaking my jaw would have cost me over $90k if I didn't have insurance. That alone is why I'm on a $100,000/$300,000 BI policy.
27 year old male. Cambridge Ohio
11 years riding exp. on the street.
MSF
clean record
2006 Gsx-r 750 and a 2004 gs500.
Riders insurance.
$450 a year. full coverage on both.
www.rider.com would recommend.
Wow, thanks for reminding me of Rider Insurance. Last time I checked on it they didn't have insurance for Virginia. Now it seems they do.
You guys have some great coverage!
05 500f
23 male california
State Farm
Full Coverage $215 for 6 months
New rider with msf
Now I called my insurance agent and asked her if I can get a discount for the msf course completion and they don't discount for that am I missing out?? My coverage ends in march or april so I might want to switch if they won't cut me some slack I have a clean record no issues at all!
$215 for full coverage isn't bad for 6 months... WAY better than what I was quoted for with State Farm... Ive had State Farm for full coverage car insurance 7 years, and renter's/home insurance for 5 years, clean record, 23 yrs old, '04 GS500F, multipolicy discount, safe driver discount... they quoted me nearly 2k for a year of full coverage on my bike... with a $500 deductible!
Doesn't make sense, but I took mine to Progressive $29/month for a year of full coverage + accessories, no deductible
- Bboy
$215 for full coverage for 6 months isnt bad but $238 for full coverage for the year is better.
I was with Geico but Pregressive totally kicked their arse