Topic: What do you pay for insurance?

[Dos]

Hello everyone,

For some of us we only ride when we can get our bikes working or maybe 2-4 months out of the year. We're not like the average motorist we have special bikes haha.

Of course we would all like to pay the cheapest so let's help find that.

I pay 100 a year with progressive in NJ. This is the minimalist coverage.

What do you pay?

[BomberMann650]

Geico offered me the lowest price on a policy package that was basically my choosing.

$11/month

$8000 total loss/theft replacement value (because she means that much to me)
Uninsured Motorist and Roadside Assistance - two must haves
I had a halfway decent personal injury and passenger protection policy too.
And the minimum liability policy for the state I live in -
         In the off chance I am to blame should my body leave a crater on someones car.

Oh yeah, I could afford my deductibles too!  I'm not exactly wealthy after all.

[Dos]

So that's 110 a year.. Trying calling progressive so far I have found them to be the cheapest.

Could you choose which months you were insured?

Geico offered me the lowest price on a policy package that was basically my choosing.

$11/month

$8000 total loss/theft replacement value (because she means that much to me)
Uninsured Motorist and Roadside Assistance - two must haves
I had a halfway decent personal injury and passenger protection policy too.
And the minimum liability policy for the state I live in -
         In the off chance I am to blame should my body leave a crater on someones car.

Oh yeah, I could afford my deductibles too!  I'm not exactly wealthy after all.

[Rookster]

Try an agreed value policy.  I think you will find it just a little bit more expensive than the basic liability.  With agreed value you are also covered for theft.  The bike can be stolen from your garage or storage space any time of year so a full years coverage isn't just wasted money.  Progressive covers 2 bikes with agreed value of 7k for under $200 per year for me.

Scott

[mrfish2]

Try an agreed value policy.  I think you will find it just a little bit more expensive than the basic liability.  With agreed value you are also covered for theft.  The bike can be stolen from your garage or storage space any time of year so a full years coverage isn't just wasted money.  Progressive covers 2 bikes with agreed value of 7k for under $200 per year for me.

Scott

An agreed value was the only way I could get my insurance company to cover me. I had to produce all receipts showing how much I had invested and at the time it was only $1500, so that became my agreed value. I'm paying about $300/year for full coverage through Progressive for my 550 and I have less than 3 years riding experience. They like to take that into consideration as well.

[Dos]

I don't think there is anyone out there with a bare bone package at the amount of 100 or less a year

[BomberMann650]

So that's 110 a year.. Trying calling progressive so far I have found them to be the cheapest.

Could you choose which months you were insured?

Geico offered me the lowest price on a policy package that was basically my choosing.

$11/month

I got a much higher number from progressive, who happens to be the subcontractor for USAA

[flybox1]

My full coverage is just under $300yr for me w GEICO. 

[Flyin900]

You guys are very fortunate in the unbelievably low rates, yet I didn't see any medical coverage mentioned. Bikes can be replaced.... I can't. I never want to deal with a major medical bill that easily could run into the million dollar range for extended lifetime medical care.

The medical is a big portion of a policy in Canada and so the rates are very expensive. Two 1980's 1000cc bikes cost in the range of $1800. for the season for the two bikes and for that I get 1 Million liability which is the minimum you can have and no fire, theft or collision coverage. That coverage would require an appraisal at $150 per bike to qualify for those coverages on what are considered "vintage" bikes. My medical coverage is 2 Million and will cover pretty well any minor to major injury.

I think in another forum this topic was discussed and I seem to recall that American insurance covered a very low amount of medical like around $35K. I would be interested to hear what you get for $100 insurance per season of riding down there

[rocket johnny]

state farm gives me good coverage for about 85 a year .  but i also have my pick up, 2 cars and the house with them . all eggs in one basket

[Dos]

$85 a year now that beats my $100!

[Stev-o]

I don't think there is anyone out there with a bare bone package at the amount of 100 or less a year

I paid $110 liability insurance for 3 bikes for a year [I ride all year long].

Dairyland Insurance............

https://www.dairylandinsurance.com/motorcycle?gclid=Cj0KEQjwvOC5BRCb_8yNmZ_ls9IBEiQACTz8vl2qccQEDkWbC0sCCeccVgMpv_lnLVXhBusqJxGuqvcaAhDA8P8HAQ

I have Progressive for my boat but they were higher for my bikes.

[jamesw]

You guys are very fortunate in the unbelievably low rates, yet I didn't see any medical coverage mentioned. Bikes can be replaced.... I can't. I never want to deal with a major medical bill that easily could run into the million dollar range for extended lifetime medical care.

The medical is a big portion of a policy in Canada and so the rates are very expensive. Two 1980's 1000cc bikes cost in the range of $1800. for the season for the two bikes and for that I get 1 Million liability which is the minimum you can have and no fire, theft or collision coverage. That coverage would require an appraisal at $150 per bike to qualify for those coverages on what are considered "vintage" bikes. My medical coverage is 2 Million and will cover pretty well any minor to major injury.

I think in another forum this topic was discussed and I seem to recall that American insurance covered a very low amount of medical like around $35K. I would be interested to hear what you get for $100 insurance per season of riding down there

Here in Ontario, I'm paying $935/yr for my 2000 Shadow Aero 1100, then another $770 for my K5. 2 million liability.

Unbelievable rates that the US members pay.

[Mantree]

I pay about $160 a year for 3 bikes (stock cm450c chopped cb750 and a xvz1300 sidecar rig) the 1300 is the most expensive because of the high displacement and the team modifications the 750 is second and the 450 comes in at like 40.  I have progressive

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[Flyin900]

Well not one in the US has stepped up and discussed the medical coverage they have with these low rates. The cheap rates are to be admired only if there is decent long term medical coverage.

I have met a seriously injured fellow rider who was taken out by a cager and will never be the same person again physically. Something that you hope will never happen to you or to others, yet it unfortunately does happen.

[caretta]

I would venture to say that none of those low USA rate policies have any medical liability coverage or minimal coverage of $20K or so. Most cheaper USA policies are taken out to the minimum individual state limits which are very low compared to Canada or many other countries. The US lets the states decide on minimum coverages not the feds. I think most motorcycle policies in the USA are only taken out because the states require some coverage. The USA is not yet as socialist as Canada so we do not have as much federal oversight. The USA is getting closer but, luckily, there is considerable resistance. A million or two dollar medical or liability policy in the USA would cost the same as Canada and is the main reason you don't see the average guy with that kind of coverage and we have Obama care!!!

[camelman]

I was paying $306 or so for ny 2005 Triumph Sprint ST 1050 for liability only (including decent medical). I just added a CL350 and my Sprint cane down to $286/year with $37/year for the CL350 with the same insurance levels. I also have renters and homeowners (on my rental house) through the same insurance company. GEICO

[88blkiroc]

$76 a year for my CB750 with Progressive. Basic medical like $20k I think but don't forget in the US we have to pay for seperate health insurance that would cover accidents etc. I also have separate plans with short and long term disability coverage, life insurance, etc. Just my medical insurance for my family takes over $500 a month out of my check. So I don't see a reason to have extra expense on a bike policy when I ride it very few miles a year and my other policies have me covered. I think that's why the difference between Canada and the US. Also I thought Canada was socialized health care so why the medical insurance necessity? Not being political just curious as to how it works.

[brewsky]

I have Progressive and for 3 bikes (liability only), 182/ full year.

$100,000, $300,000, $50,000 coverage, includes same amounts for un/underinsured.

[slikwilli420]

I pay $109 per year for my 2009 Triumph Thruxton. I declined all medical coverage, because whats $25k really going to take care of? If I get a head injury, that $25k will be spent before I get out of the ambulance. I am in Michigan, and we have a $150 per vehicle fee called MCCA. Essentially it sounds bogus, but in the event of an injury over $545k (thats the amount insurance covers up to) the MCCA takes over. Essentially, if I get into an accident and become a vegetable for the next 60 years, I am totally covered. The kicker is that to get this benefit I must be in an accident with another vehicle. If I hit a tree/deer/pothole/etc I am not covered. The same fee applies to cars but you are covered by any type of accident.

[70CB750]

We have everything with State Farm - house, lives, cars - and my bike comes to 12 dollars a month.

[Flyin900]

I was just curious about the differences and why we seem to pay such high insurance fees compared to the US. Some of the posts now shed a little more light on that coverage.

In Canada although we have universal health care, it may not totally cover a catastrophic accident and especially if you were injured in another province when it happened, as coverages can differer just like your different states have other policies.

It doesn't cover anything beyond your initial treatment in the hospital, so if you need long term care then you are screwed.

[Smoke Detector]

A timely post as I've just insured my CB500 K1, this is in Ontario Canada. I'm paying $750/year.
The quote I received broke it down as:
$413 - accident benefits - mandatory coverage in Canada to pay for medical treatment beyond the basics and income replacement, etc
$122 - bodily injury 1 million liability, if I hurt someone (1 M is mandatory coverage, option to increase to 2 million)
$12 - property damage 1 million liability
$124 - direct compensation - if I damage someone else's car
$7 - uninsured automobile - if I'm in an accident with an uninsured driver and my company has to pay out
$76 - family protection coverage - roughly defined as paying me the difference between someone else's coverage limits and my own, if they are at fault in an accident or not insured
It's the lowest tier of coverage which is only liability, no loss/fire/theft/damage coverage on the bike itself as they said I need to have 3 years of coverage and an appraisal before they will cover the bike. I've been without bike insurance for several years, and rate supposedly will drop over the next 3 years assuming I don't have a claim. There isn't the volume of old bikes on the road up here like in the States, and many insurers won't even touch them - so not as much opportunity to shop around.

[my79650]

$276/yr here in New Brunswick Canada; insured with Waterloo Insurance  through a broker; car is on my policy under full coverage; the bike; 79 CB650 PL/PD(bare bones coverage). Best i could do at the time and had my motorcycle endorsement for 11 years. Here in NB; it is broke down to zones;  you live in zone A; coverage may or may not be cheaper than zone B; i think the province is broken down into 12 zones; will have to check;  to make sure the insurance companies can find a way to rob you blind.

[Powderman]

So that's 110 a year.. Trying calling progressive so far I have found them to be the cheapest.

Could you choose which months you were insured?

Geico offered me the lowest price on a policy package that was basically my choosing.

$11/month

$8000 total loss/theft replacement value (because she means that much to me)
Uninsured Motorist and Roadside Assistance - two must haves
I had a halfway decent personal injury and passenger protection policy too.
And the minimum liability policy for the state I live in -
         In the off chance I am to blame should my body leave a crater on someones car.

Oh yeah, I could afford my deductibles too!  I'm not exactly wealthy after all.

That's $110 a year, if your year is only 10 months.
State Farm agreed to insure my bike for an agreed upon value of $40K for just $365/yr. I do have all my other car and home insurance with them also that saves me big.