Because there is such a variety of vehicle and driver characteristics taken into consideration in order to derive a premium rate, it really depends. For example, vehicle make and model are two characteristics we have to consider and some two-wheel motorcycles will cost more, some will be less expensive, and some will be the exact price (given that vehicle make and model are the only differences in comparing two policies).
It’s best to talk through your options with your independent agent or insurer, and at Progressive we encourage customers to insure their trike conversion kit as Accessory coverage. That’s pretty technical so let me give you an example. You can take a stock Harley cruiser and convert it into a trike. That conversion kit can cost between $10k-$15k, so in order for customers to be fully insured, we encourage them to purchase Accessory coverage to at least match the cost of the conversion kit. Without doing so, only the free $3k of Accessory coverage would be applied to the cost of the trike conversion in the event of a total loss. That additional Accessory coverage isn’t expensive, but it would make the cost to insure the trike more expensive than the two-wheeled counterpart.
-Scott Hall, Motorcycle Product Manager at Progressive Insurance