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-   MO vs. World (http://www.motorcycle.com/forum/mo-vs-world/)
-   -   Insurance Rates Question (http://www.motorcycle.com/forum/mo-vs-world/2016-insurance-rates-question.html)

nomad76 08-02-2003 03:25 PM

Re: Insurance Rates Question
 
I concur. I live in a "good" part of Philly and my Ninja got stolen right off the street, even though it was chained and in view of surveillance cameras. They recovered it and convicted the guy, but it didn't bring back my bike, which got spray-painted black and dropped at least a half-dozen times. As far as I'm concerned, the extra dough for full coverage is worth the peace of mind.

nomad76 08-02-2003 03:29 PM

Re: Insurance Rates Question
 
My Kaw 500 rates were $700/year in Georgia with a sorta clean record (1 accident, not at fault). That was for full coverage.

pplassm 08-04-2003 03:30 AM

Re: Insurance Rates Question
 
I agree with you 100%. I have been a USAA member for over 25 years, and I insure everything except my motorcycles with them. When I was stationed in Germany, they wanted 3 times the premium that local insurers wanted.



I check their rates every now and then, and at one point, they flat out refused to insure my 600 Ninja.



Also, remember the insurance black list in the 80s? USAA was one of the leaders of that fiasco.



Servicewise, you can't beat USAA, though. I just had a lightening strike on a large tress on my property. Check arrived the next day. No questions, no hassle, no pain.



It's just too expensive for me to keep 5 bikes insured with them.

ValknMag 08-04-2003 12:21 PM

Re: Insurance Rates Question
 
My policies are thru State Farm as well, and I think they take more into account than just CCs. Full coverage on my 1500cc Valkyrie is about $50 less than on my 1100cc CBR1100XX.

blackburd 08-04-2003 01:01 PM

Re: Insurance Rates Question
 
State Farm: Yeah, they cover my truck and my house as well as my bikes. But I don't care, I have a great agent. I have a Honda CBR 1100 XX and a Suzuki TL-1000R. Full coverage on the Honda is around $220. per year, and the Suzuki is slightly less.

SuperBill 08-04-2003 01:39 PM

Re: Insurance Rates Question
 
Sometimes it seems that insurance companies price their products in the same manner as the airlines - randomly! Sounds dorky, but I never buy a bike until I check out the insurance costs with several companies. It's amazing how much premiums vary between companies and between bikes - even bikes with nearly identical performance. Once you have the numbers, it's just a matter of doing the math. Consider the cost of the bike, the cost of the insurance, and how long you're gonna keep it.



This approach works great until you see the ONE bike that you've just GOTTA' have. Then you're screwed - just shop around for the best deal on insurance and enjoy the ride!



By the way, most insurers offer multiple bike discounts - clearly, the only intelligent thing to do is collect several bikes to take advantage of the discount!




s_blackwelder 09-10-2003 03:32 PM

Re: Insurance Rates Question
 
One of the British motorcycle magazines, "Bike" I think (Thank you, Borders Books and Music, for carrying "Bike" on your magazine rack!), publishes "insurance group" ratings on motorcycle models, to give an idea about relative insurance costs.



Do any of you British riders out there find that info accurate or useful?



Is such information available for the U.S. motorcycle market, or do U.S. insurance carriers feel too insecure about publishing it?


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