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Janitor of Anarchy
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172 Posts
Discussion Starter #1
I hate insurance companies. If I total all of my home/business/auto/motorcycle policies, the total price I pay for 1yr of insurance is $9500. That's just plain robbery. I did make some headway for the VROD and my other M/C, my 2002 Honda CBR954RR.

I had my Honda before the VROD and at that time my cycle insurance was with Nationwide--they would not insure the CBR. 11 other places I called including Progressive either would not insure it or I was quoted rates as high as $3200/6-months. Progressive would not write a policy for me on the CBR. My last call for insurace was with State Farm. Remarkably, their policy was $662/yr. OK, so I signed with State Farm.

That was three years ago. State Farm as raised my rates from the original $662 to $1128 through the three years. I haven't had an accident or a ticket in 11 years-- and zero claims. They suck!

My Harley dealer suggested Progressive upon my VROD purchase. A quick call and a rather fast quote of $460/yr. Didn't even bother calling anyone else. Signed right up.

I received my State Farm renewal letter for $1128/yr last Wednesday. Figure I'll email Progressive and see if they'll turn me down again. To my amazement, they quoted me a multibike discount! VROD and my CBR for $689 a year for both! That's an additional $129 per YEAR for my CBR. A yearly savings of $1000.

I almost sold my CBR because of this insurance nonsense. I'm so pissed at State Farm.

Thumbs up to Progressive!
 

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Banned
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12,582 Posts
I SAVED OVER $700.00 A MONTH!Going from Farmers to AMERICAN FAMILY INSURANCE!They are the best but I have EVERYTHING under them.3 Cars,3Bikes,House,etc!Check American Familiy Insurance.Must have their Home owners to really Save Big THOUGH!! :kaz:
 

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Here for the ride
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355 Posts
One of the products my company sells is insurance so let me try to provide you guys (and all forum members) with some insight to the insurance market place. Here's couple of observations:

1. Many of you have experienced huge homeowners premium increases over the last few years.
2. Motorcycle premiums from "standard" auto/home carriers have gone up more than your homeowners.

Standard carriers (State Farm., Allstate, etc) try to understand specific markets (like motorcycles) but they never really get it. They'll dabble for a year or two, lose their shirts, jack up prices (way too much and too fast), then decide the business isn't all that bad and try to figure out how to compete in it again. The whole problem stems from them straying from what they do best in the first place.

Progressive is one of the largest (if not the largest) writer of motorcycle insurance. They understand this market, know how to price it, and know how to make money at these prices. The only real risk from having a motorcycle policy with a different carriers than your homeowners policy is that if you have an unbrella policy on your home, it won't carry over to your motorcycle policy.

Here's my suggestion to you. Make sure you have a competent independent agent that can bid out your business to many carriers for you. IMHO, your loyalty should be to a good agent that can switch carriers for you when a company decides to change the way they do business. The reason the agent is so important is because he/she will take the policy differences into account for you when bidding out your business. He/she is interested in retaining you and is less concerned with the specific carrier your with. If your agent only represents one company, the the agent is in a difficult position when the carriers hikes up rates (like in the above referenced State Farm example).

Good luck,

Leo
 

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454 Posts
Call up HD insurance, they actually check around to get you the best price. I used to be with Rider but then called HD and they got me a much better (higher limits, less deductable) deal with Foremost for significantly less money.
 

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Fireman/investigator
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1,965 Posts
Foremost too. Progressive wanted 1200 a year for me.... no tickets, no claims for over 14 years. Foremost is a little over 650/year. Progressive still insures my Bronco. And I agree about the agent... when ever i have a problem, I give her a call and she does the research....
Greg
 

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Fries with that?
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1,541 Posts
We looked at Progressive... most of their rates were good but they came in higher on some of our bikes than SF.... but what put the kabosh on the whole deal was the fact that they refused to insure all of our bikes.

I've had State Farm for almost 20 years... rates are reasonable and while I'm not exactly thrilled with my agent (apparently I'm the only customer his office has ever had who owns more than one vehicle at a time), they're tolerable.
 
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