Motorcycle Insurance! How much are you paying lately?

[DDHR1150RT]

I just received the renewal for my motorcycle insurance and talk about falling out of my chair at the price for another years worth of insurance; it more than DOUBLED from what I paid last year! WTF is happening to motorcycle insurance? They are pricing us out of owning the things!

I paid $229.00 for the standard 25/50K person/accident, comprehensive, uninsured motorist, towing, travel loss, etc with a $250.00 deductable and now the same company (American Modern) wants $553.00 for the same coverage!
This price includes a "renewal discount" along with clean license, rider experience, age and every available discount endorsement possible! Now, my 02, R1150RT will cost me more than my cages!

I am absolutely outraged! Despite my anger, I must have insurance to ride my motorcycle (I'm still paying for the thing) or call it quits and sell it.

I hate to give up my love of motorcycles but, I am finding it hard to pay the ever-increasing, and exorbitant insurance rates.

I have a quote from Progressive at $746.00 and one from Dairyland at $1200.00 so both of these companies are out of the picture.

So, what are you paying for insurance and can you recommend a company to go to?

Also, does anyone know of Markel American Insurance Company? I have a quote from them of $437.00 a year with Uninsured motorist and $338.00 a year without UM.

Any feedback and help will be much appreciated as I am seriously contemplating giving up the sport. The costs are becoming redundant.

[exharleyscott]

Something sounds screwed up. I have a clean dl and an 04 Rt. Progressive quoted me just under $400 for the year on 100\300 with a $250 deductable. I thought that was a little high since my 02 h.d. was just over $300 a year for the same coverage.

[lorazepam]

I have an '04 RRS and and my coverage is roughly 380 for 100/300 12 month, 250 deductable. It is with beemerinsurance.com. they specialize in BMW motorcycles, and the rates seem lower to me.

[gezerbike]

$ 274 year for 100/300, 250 deduct, 2000 accessory coverage. R 1150 RS , 52 , no accidents, 2 rider courses, member of 2 clubs and no tickets in 5 years. Alot of these new increases are due to theft...I live in semi-rural Illinois and my bike is garaged...with that said, my coverage did go up about $ 27 bucks this year....I looked at the Yamaha FJR 1300 but ins for that would have been $ 740 a year.

[LTOwner]

Big, big difference in where you live, size motor (preferably under 1200cc), model of bike, and credit rating. All affect your price, along with driving record, and age. I personally found the lowest price with the same company that has my cars and home. The specialty motorcycle outfits were all double or triple what I pay. I pay $300 for full coverage on an LT.

[PineGreen]

Something is screwy. I have American Home also and pay $280.. per year for an 03 RT.full coverage, with a $ 250.00 deductable. I have a clean DR and a claim two years ago.

[donkey doctor]

Hello; You guys don't have it so bad; for six months I just paid $425. I get public liability and property damage up to $225000. that's all, no collision no specified perils, no theft.

I have been a motorist since '61 and qualify for a 48% no claim dixcount. I only qualify for the discount if I have another vehicle which I declare to be my principal transportation.

I am going to apply for collector plates, which will be under $250 per year, and will allow me the same coverage as above.

I will have to come up with a stock exhaust system to qualify for the collector's plates however, as my current Luftmeister muffler won't cut it.

Our insurance is owned by the provincial government, not that it makes it any cheaper. It does remove the competetion and takes away any need to improve services or lower prices.

[Cliffy777]

another shining example of how efficiently things can run when "the government" is in charge. No offense DD, but your insurance price story scares the s&^% out of me.
I have a question for the thread starter - you are in Georgia, correct?
Have you noticed a similar increase in auto premiums?
Do you have a helmet law there?
If not, how long ago was it repealed?

[LICK MY BRICK]

I pay about 400.00 dollars a year,and thats liability just for my one bike.I have NY state minimum!!!
Jayson:help

[DDHR1150RT]

Originally posted by Cliffy777
I have a question for the thread starter - you are in Georgia, correct?
Have you noticed a similar increase in auto premiums?
Do you have a helmet law there?
If not, how long ago was it repealed?

Hello Cliffy,

Yes, I am in Georgia and yes, we have a helmet law here. As far as the auto premiums go, I have yet to see such a DRASTIC increase in premiums as the motorycles have. Now, hopefully, this will not become a domino effect upon auto, boat, home, and whatever else these bloodsuckers wish to stick the public with.

So far my best quote to continue insurance on my RT is from Markel American Insurance Company at the price of $437.00 a year. Naturally, I am searching for a better price!

Here's the rates I was paying and the new ones:

Policy: Coverage THEN / NOW
Bodily Injury- Each Person $25,000 cost, $21.00 / $33.00
Bodily Injury-Each Accident $50,000
Property Damage- Each Accident $25,000 $6.00 / $10.00
Physical Damage- Comprehensive ACV $63.00 / $176.00
Comprehensive Deductable $250.00
Physical Damage- Collision ACV $63.00 / $240.00
Collision Deductable $250.00
Passenger Liability INCL.
UM BI-Each Person $25,000 $63.00 / $79.00
Um BI-Each Accident $50,000
UM Property Damage-Each ACC $25,000 $7.00 / $9.00
Travel Loss $6.00 / $6.00
TOTAL= $229.00 / $553.00


The quote I received from Markel is for the identicle coverage listed above and if I can't find a better price, I will be switching to them very soon as my current policy expires on the 25th of this month.

Oh, and believe it or not, I had one insurance company representative actually admit that the increase in motorcycle SALES directly affected the increase in motorcycle insurance rates. I thanked him for his honesty and didn't accept his quote of which was almost $600.00 annually.

[LICK MY BRICK]

like I said BLOODSUCKERS,Never had a speeding ticket,never claimed or had an accident,had the MSF course when I got my motocycle license in 1998.I"m 32 years old (GIT) Gezzer in training:rofl WTF!!!!!!!!!

Jayson

[DDHR1150RT]

Just got off the phone with my current motorycle insurance rep and he stated that ALL motorcycle insurance companies are raising their rates a minimum average of 40% to 50%! He claims the companies were losing money on motorcycle insurance and that is why they have instigated MASSIVE increases in policy premiums.

My rep. claims that Dairyland and Kemper started the increase as these two companies used to be the industry leader of low cost motorcycle insurance. He also stated that the increase was MOSTLY implemented against motorcycles with 850CC and higher outputs. Nice to know huh!

The fact remains that the insurance agencies can do what they want with little regualtion. Two years ago my 02, R1150RT cost me $189.00 to insure annually. Now, the same company is charging me $553.00 for the same coverage. That is a $364.00 increase in two years!

Yes Jayson, I can say BLOODSUCKERS!

[LICK MY BRICK]

This is one of the main reasons why I buy a used bikes or cars.I just can't afford to get anything new because I'll just pay out the A** and nose for it.My 1995 v8 t-bird cost me $1400 a year!!!
and that is just liability,state minimum.

Jayson

[BradfordBenn]

I got a GMAC flyer from Rider Magazine and called them. For a 02RT and an 03F650GS, most insurance I can carry, medical insurance even, $400 a year total, or about $200 a bike. Progressive was $900 Allstate (my home and car) was about $2700.

Kind of makes you wonder how the stuff gets rated?

[ScottM]

Put full coverage on mine for about $155 a quarter. Being in Mexifornia and being a returning rider after many years off, felt this was pretty fair. Lucky I maintained my endorsement over the years. Using Foremost. They include towing for $8. Good since AAA doesn't cover motorcycle towing.

PS> 10% discount for being a member of this group!

[JimKane]

All of the prices I have seen in this thread are acceptable to me except for the one from NY. I paid $1780 in Mass. last year. That is full coverage. At that rate, I am better off putting the money in the bank and self insuring. Minimal mandated coverage is only $280 per year. $1600 in my pocket is better than in theirs.
Since when does AAA exclude motorcycles. I have had bikes towed by them in the past and have gotten road service. Their police specifies "vehicle", not automobile. My bike is a vehicle.