A Word About Motorcycle Insurance

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desertrefugee
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A Word About Motorcycle Insurance

#1

Post by desertrefugee »

...it has gotten expensive!

I remember a time, not too long ago, when renewing insurance for our bikes was almost <almost> a non-event. Some time back when I began to focus on riding older machines I discovered that I could insure them for less by using companies like Hagerty and Grundy. Apparently, that is no longer the case as premiums are going up dramatically. So, although this topic has been discussed many times, it is a moving target.

Could I ask folks who they're using, what the rates are - and where you're living as that makes a difference. I'm getting restless again and cannot help but think I can do better. Thanks!
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Re: A Word About Motorcycle Insurance

#2

Post by Whiskerfish »

For the 2 older bikes I pay 224 a year for just liability. The 08 1800 I put full coverage on and that is 260. Both are through Geico. And I do have the safety courses on file with them.
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tomk1960
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Re: A Word About Motorcycle Insurance

#3

Post by tomk1960 »

I've been using Hagerty for years and the cost is very reasonable. I have 6 old Hondas registered and insured for a total of $488/year. They're insured for value and even come with towing. You can't use Hagerty for an everyday commuter bike and I think you have to prove that you have one non-antique bike registered.
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Re: A Word About Motorcycle Insurance

#4

Post by CYBORG »

I use State Farm here in Michigan, Two bikes, Liability only, $230 a year for each one. Which assumes a 6 month riding season. And is bundled with Cars etc
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Re: A Word About Motorcycle Insurance

#5

Post by 82_GL1100 »

I'm in AZ. You might check out Dairyland.
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Re: A Word About Motorcycle Insurance

#6

Post by rcmatt007 »

I do get good rates from progressive, but they have my home, my autos and a plethora of bikes. My Ltd is with Haggerty and an agreed value. Tried Haggerty for my M3W and was told they did not insure them (on Talkmorgan several people with M3W's have Haggerty). Had already added it to my Progressive, but since have found will have better coverage and cheaper with Grundy.
Moving to VA my insurance is cheaper than Oklahoma. So all states are different.
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wog
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Re: A Word About Motorcycle Insurance

#7

Post by wog »

rcmatt007 wrote:...snip...
So all states are different.
snip...
Here in FL, as long as you have $10,000 in medical insurance, no coverage is needed. :shock:
The annual premium for 3 bikes with coverage including physical damage to the bike and or theft is about $150.00!


Company I use is Condon Skelly. I've never filed a claim, but for years they've been easy to deal with in terms of adding/deleting different GL's along with increasing the value as I "modify" or restore them.
Great to keep these old 'Wings flying on down the road.
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Re: A Word About Motorcycle Insurance

#8

Post by scootsx2 »

I have been with Progressive for many years. I have 4 bikes covered with them. My Francis-Barnett is with Hagerty. The detail is below. I am located in St. Louis, MO (in the city center, not the burbs).

The rates shown are for 1-year.

The 2001 Goldwing is a trike conversion.
The 1982 CX500 is a trike conversion.


Summary of Coverages and Rate
2006 VESPA LX $98.00
2001 HONDA GL1800 GOLDWING $387.00
1975 HONDA GOLDWING $190.00
1982 HONDA CX 500 CUSTOM $208.00
Total policy rate: $883.00

2006 VESPA LX150
Physical damage option: Actual Cash Value
Disappearing Deductibles: None
Coverages Limits Rate
Bodily Injury & Property Damage Liability: $500,000 combined single limit $28.00
Uninsured Motorist: $50,000 each person/$100,000 each accident $28.00
Underinsured Motorist: $50,000 each person/$100,000 each accident $9.00
Medical Payments: No Coverage $0.00
Enhanced Injury Protection: No Coverage $0.00
Comprehensive: $500 deductible $10.00
Collision: $500 deductible $13.00
Roadside Assistance: Selected $10.00
Carried Contents®: No Coverage $0.00
Accessory coverage: $3,000 (included) Included
Total rate for this vehicle: $98.00


2001 HONDA GL1800 GOLDWING (accessory coverage is the trike conversion)
Physical damage option: Actual Cash Value
Disappearing Deductibles: None
Coverages / Limits / Rate
Bodily Injury & Property Damage Liability: $500,000 combined single limit $144.00
Uninsured Motorist: $50,000 each person/$100,000 each accident $52.00
Underinsured Motorist: $50,000 each person/$100,000 each accident $16.00
Medical Payments: No Coverage $0.00
Enhanced Injury Protection: No Coverage $0.00
Comprehensive: $500 deductible $23.00
Collision: $500 deductible $74.00
Roadside Assistance: Selected $10.00
Carried Contents®: No Coverage $0.00
Accessory coverage: $10,000 $68.00
Total rate for this vehicle: $387.00


1975 HONDA GOLDWING
Physical damage option: Agreed Value
Disappearing Deductibles: None
Coverages / Limits / Rate
Bodily Injury & Property Damage Liability: $500,000 combined single limit $40.00
Uninsured Motorist: $50,000 each person/$100,000 each accident $27.00
Underinsured Motorist: $50,000 each person/$100,000 each accident $8.00
Medical Payments: No Coverage $0.00
Enhanced Injury Protection: No Coverage $0.00
Comprehensive: $500 deductible $54.00
Collision: $500 deductible $51.00
Roadside Assistance: Selected $10.00
Carried Contents®: No Coverage $0.00
Accessory coverage: No Coverage $0.00
Total rate for this vehicle: $190.00


1982 HONDA CX 500 CUSTOM
Physical damage option: Agreed Value
Disappearing Deductibles: None
Coverages / Limits / Rate
Bodily Injury & Property Damage Liability: $500,000 combined single limit $44.00
Uninsured Motorist: $50,000 each person/$100,000 each accident $29.00
Underinsured Motorist: $50,000 each person/$100,000 each accident $9.00
Medical Payments: No Coverage $0.00
Enhanced Injury Protection: No Coverage $0.00
Comprehensive: $500 deductible $56.00
Collision: $500 deductible $60.00
Roadside Assistance:
Selected $10.00
Carried Contents®: No Coverage $0.00
Accessory coverage: No Coverage $0.00
Total rate for this vehicle: $208.00
1975 GL1000 Sidecar Outfit
1982 CX500-based Trident ex-Police Trike
2001 GL1800 MotorTrike
2006 Vespa LX150
1956 Francis-Barnett Falcon 74
195x Solex 1700
196x Solex 2200

St. Louis, MO

The dude abides.

Brothers of the Third Wheel - Gateway Chapter http://www.btw-trikers.org
Vintage Japanese Motorcycle Club http://www.vjmc.org
Francis-Barnett Owners Club http://www.francis-barnett.co.uk/
Antique Motorcycle Club of America http://www.antiquemotorcycle.org/
Vintage Motor Cycle Club http://www.vmcc.net
British Motorcycle Charitable Trust http://www.bmct.org/
VeloSolex Club UK http://www.velosolexclubuk.com/
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Re: A Word About Motorcycle Insurance

#9

Post by Wolfie666 »

In PA, Geico
just basic coverage.
5 bikes
Your current 12 month premium:
$157.00
Vehicle total 12 month premium: $45.00
2000 HONDA GL1500SE/1

Vehicle total 12 month premium: $20.00
1973 HONDA CB750

Vehicle total 12 month premium: $37.00
1985 HONDA GL1200L

Vehicle total 12 month premium: $30.00
2006 SUZUKI GS500

Vehicle total 12 month premium: $25.00
1996 HONDA VT1100C

Bodily Injury Liability ?
$100.00
$15,000 per person/$30,000 per occurrence

$57.00
$5,000 per occurrence
.
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You will never get out alive!
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Re: A Word About Motorcycle Insurance

#10

Post by rcmatt007 »

I might add a word about minimum coverage.... the lady who drove in front of me in 2016. Her $25,000 minimum did not cover all the bills, and all I had was a broken collar bone, broken rib and a dislocated thumb. She was young and had no assets, fortunately my "underinsured" coverage paid off $50,000 to me.

One trip to the ER with a motorcycle accident is VERY expensive!

If she had any assets (house etc.) I would have sued her for that amount plus.
-Rodger-
all it takes for evil to prosper is the want of a few good men to do nothing-Edmund Burke
The question is not how much time do you have, it is what you do with the time that you have Gandalf
"One of the greatest dignities of humankind is that each successive generation is invested in the welfare of each new generation." Fred Rodgers
"it takes 10,000 hours to become an expert" ancient saying
78 constantly modified/customized since 1978, BOTM June 2015 de-evolving this very moment viewtopic.php?f=30&t=65511
76 Ltd "cookies bike" ALMOST DONE
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'86 1200 (Beth's)(FOR SALE) with motorvation sidecar (sidecar sold) , July 2017 BOTM
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Re: A Word About Motorcycle Insurance

#11

Post by ericheath »

And the Canadians are gnashing their teeth! Mine are $260 per month each, but I can only afford one, May-September, a break for April and October if you can ride, and then $10 a month after that. Crazy thing is, I can ride them in Arizona or Florida for example and it’s still just $10 per month.
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flyin900
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Re: A Word About Motorcycle Insurance

#12

Post by flyin900 »

I have no issue with what I pay here in Canada, as reading through this list the glaring issue for me is the lack of real medical coverage and any serious payout on damages. I don't mean to be disrespectful, yet it is such a foreign concept to get my head around.

While we do definitely pay more here in Canada for insurance, the minimum coverage in Ontario is $1M for liability and much greater medical coverages. As noted by rcmatt007 his mishap driver had virtually no coverage, so only with his foresight of $50K of additional coverage he was alright. In a serious long term rehab accident or worse, a lifelong medical issue those numbers won't scratch the surface of the costs and care.

I do admire the cheap and I mean very cheap insurance rates you all pay down there, yet there is a reason for that cheaper cost. In Florida $10K of medical coverage and your good to go!!! The scary part is there are probably lots of drivers be it cagers or otherwise in that state that are using this as their non insurance coverage and being good to go.
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Re: A Word About Motorcycle Insurance

#13

Post by rcmatt007 »

The reason I had really good underinsured coverage is because I carry a very high personal liability coverage.... being a physician, having a nice house, etc. I do not wish to be sued because I have a low limit. Well, the 50k I suppose paid for having a right thumb that only works half way the rest of my life... :evil:

But what I did was sell my '05 road king and replace it with a '17. :twisted: However, I am not recommending anyone do a body slam to the pavement to get a new bike :IDTS:
-Rodger-
all it takes for evil to prosper is the want of a few good men to do nothing-Edmund Burke
The question is not how much time do you have, it is what you do with the time that you have Gandalf
"One of the greatest dignities of humankind is that each successive generation is invested in the welfare of each new generation." Fred Rodgers
"it takes 10,000 hours to become an expert" ancient saying
78 constantly modified/customized since 1978, BOTM June 2015 de-evolving this very moment viewtopic.php?f=30&t=65511
76 Ltd "cookies bike" ALMOST DONE
79 project, finished, FOR SALE
'86 1200 (Beth's)(FOR SALE) with motorvation sidecar (sidecar sold) , July 2017 BOTM
'17 HD Road king and 08 HD Heritage softail (Beth's) (FOR SALE). I guess you can say we have MBS
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Re: A Word About Motorcycle Insurance

#14

Post by SnoBrdr »

I use Progressive here in RI.

I have just the minimum and it dropped to $75 last year for the whole 12 months.
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Re: A Word About Motorcycle Insurance

#15

Post by heraldhamster »

82_GL1100 wrote:I'm in AZ. You might check out Dairyland.
I had them when I was in OK, & it was $35/year back in the '90s. never had an issue. no idea what they run now.

we currently have no requirement for insurance here in WA. I just make sure not to get injured when I get hit or have a wreck. :IDTS: :shock: :shock:
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