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Thread: Insurance premiums....

  1. #16
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    Quote Originally Posted by Darryl Cainey View Post
    Just be happy you don't live in Ontario Canada.

    I ride a 1977 R100RS and my insurance is $620 a year for full coverage, Bushtec Trailer covered as well.
    45 years of continuous riding, no accidents, claims or tickets.

    I only have one bike, a second one would be the same cost.

    I have checked out other companies and those that would cover a 36 year old bike wanted over $1000.

    What do you folks pay in your state?
    My fully comp policy for a single bike (2008 R1200RT) with Markel was $617 last year, and they are asking $743 this year. I live in a quiet TN "small town" (more like Sleepyville USA). Coverage is: Bodily injury 50,000/100,000; Property damage liability 25,000; Passenger liability 50,000/100,000; Uninsured motorist bodily injury 25,000/50,000; Uninsured motorist property damage 15,000; Medical 5,000; Funeral 5,000. Deductibles are $250 or less. Resumed riding in 8/2011 after about 40 years absence (don't go there!) Took the Basic MSF course and, although it counts for squat in the States, I qualified as an Advanced Motorist in the UK when I was living there (to the equivalent of state trooper training here in the USA). The only accidents on my insurance record in the last 30 years are from my late-wife.

    Anyway! - I need to do some insurance legwork, obviously!!!....

  2. #17
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    Quote Originally Posted by sit View Post
    ...So if this is allowed in your state, that they can use your credit report (only for autos in Oregon, not motorcycles..??) call your insurance board and find out the laws that govern it and use what you can to your advantage.
    Tennessee Title 56 - Insurance - Chapter 5 - Part 4 - Restrictions on the use of credit scores:
    56-5-403. Notice to consumer of adverse action. ? If an insurer takes an adverse action based on factors that include credit information, the insurer must provide notice to the consumer that an adverse action has been taken. That notice must contain the reason or reasons for the adverse action, described in sufficiently clear and specific language so that a person can identify the basis for the insurer?s decision to take an adverse action. The notice must include a description of up to four (4) factors that were the primary influences of the adverse action. The use of generalized terms such as ?poor credit history,? ?poor credit rating,? or ?poor insurance score? does not meet the explanation requirements of this section. Standardized credit explanations provided by consumer reporting agencies or other third party vendors are deemed to comply with this section.

    Looks like I need to call and speak with someone at Markel on the next business day and hear what they have to say about why this huge leap in premium. There was no explanation provided with the invoice (natch, right??!!)

    Thanks to everyone who has jumped onto this thread. Every response helps me to build a clearer picture of the overall situation and my options. Cheers!!

  3. #18
    A bozo on the bus deilenberger's Avatar
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    One thought..

    Find an insurance agent/broker who rides. One is a member of our club, and his agency has saved quite a few members significant money. He (actually his agents) run my policy terms/limits past three different insurance companies before every renewal. That has resulted in me changing companies (I'm currently with Progressive) and saving several hundred dollars a year. The great part about this - the agent/broker advertises in our club newsletter, basically funding it's printing and mailing for the year. Win/Win. He gets customers, we get great service and rates, plus he supports our local club.
    Don Eilenberger http://www.eilenberger.net
    Spring Lk Heights NJ NJ Shore BMW Riders New Sweden BMW Riders
    '07 R1200R (current ride) and some bimmers.. and a Porsche

  4. #19
    Old man in the mountains osbornk's Avatar
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    Quote Originally Posted by TwoMetreMan View Post
    My fully comp policy for a single bike (2008 R1200RT) with Markel was $617 last year, and they are asking $743 this year. I live in a quiet TN "small town" (more like Sleepyville USA). Coverage is: Bodily injury 50,000/100,000; Property damage liability 25,000; Passenger liability 50,000/100,000; Uninsured motorist bodily injury 25,000/50,000; Uninsured motorist property damage 15,000; Medical 5,000; Funeral 5,000. Deductibles are $250 or less. Resumed riding in 8/2011 after about 40 years absence (don't go there!) Took the Basic MSF course and, although it counts for squat in the States, I qualified as an Advanced Motorist in the UK when I was living there (to the equivalent of state trooper training here in the USA). The only accidents on my insurance record in the last 30 years are from my late-wife.

    Anyway! - I need to do some insurance legwork, obviously!!!....
    I live in a little town near TN in neighboring VA. I just got my renewal bill from Progressive (on line). The premium was $260 for high limits liability limits on my 2003 R1200CLC with full coverage ($250 ded.) and high limits liability coverage on a 2008 Burgman 400.
    'You can say what you want about the South, but I almost never hear of anyone wanting to retire to the North.

  5. #20
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    I was referred to Randolph Scott Agency(multi-line agent) in Lexington,KY by a rider on ADV in Louisville,KY a few years back when American Modern raised mine for no particular reason-again! The guy to talk to is Kent Scott, who is a rider. I just payed $117 for yr/Progressive policy on my 2012 G650GS. I had called the Progressive 800# previous to calling this agency & the quote was way higher than what I've paid going through Randolph Scott for same brand policy. FWIW, I have never had a MC claim since 1963.
    "If I had my life to live over, I'd dare to make more mistakes next time...I'd relax,I'd limber up... I would take fewer things seriously...take more chances... take more trips...climb more mountains...swim more rivers...eat more ice cream." Jorge Luis Borges at age 85.

  6. #21
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    Progressive will give you an immediate quote online, no need to speak with anyone. (At least in CA; I suppose other states might be different.) If nothing else, have a comparative data point in hand when you call your insurer.
    2000 R1100RT / 1987 K75C (RIP) / Santa Clarita, CA

  7. #22
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    Quote Originally Posted by JamesInCA View Post
    Progressive will give you an immediate quote online, no need to speak with anyone. (At least in CA; I suppose other states might be different.) If nothing else, have a comparative data point in hand when you call your insurer.
    Sound thinking, James, Thank you. I shall do that.

  8. #23
    Cowboyatheart
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    BC Canada

    2008 RT. with maximum safe drivers discount included for me.

    3 million Liability through BCgov't by mandate $1274. (Liability ins mandated, not the 3 million)
    Rest through private insurer $714

    If did all ins with BC gov it exceeds $2800 per year.

    My 2011 Lexus 350 convertible costs less to insure
    Neil
    Want to be happy for a day? Drink. Want to be happy for a year? Get married. Want to be happy for life? Ride a BMW!
    www.TasteMoringa.com Smart Mix & XM3 Energy Drink are the puppies to view...IMO

  9. #24
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    Try Progressive

    When I got my beemer, I called my agent. She got me a quote from Progressive that was about 1/4 of what our regular underwriter quoted for less coverage. She said she is a rider and also insures with Progressive.

  10. #25
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    Quote Originally Posted by cowboyatheart View Post
    2008 RT. with maximum safe drivers discount included for me.

    3 million Liability through BCgov't by mandate $1274. (Liability ins mandated, not the 3 million)
    Rest through private insurer $714

    If did all ins with BC gov it exceeds $2800 per year.

    My 2011 Lexus 350 convertible costs less to insure
    Sounds like a case of "Open your wallet and repeat after me - 'Help yourself'..."

    Ouch!

  11. #26
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    Quote Originally Posted by grover1949 View Post
    When I got my beemer, I called my agent. She got me a quote from Progressive that was about 1/4 of what our regular underwriter quoted for less coverage. She said she is a rider and also insures with Progressive.
    Even online at Progressive, with the same coverage, I am seeing over 50% reduction in premium.

    So - what's the tie-up between Markel and MOA??? I've been looking for a reference online, but nothing I can see - yet I'm sure when I joined BMWMOA in 8/2011 there was documentation provided by/from/about Markel???...

    Just curious!!...

  12. #27
    Registered User arthurdent's Avatar
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    I've got coverage through Markel with the MOA discount.

    2 bikes - 04 GS and 05 Star 650 Silverado. Gear coverage, towing and supplemental medical coverage. Two riders, too.

    Premiums for past two years about $430/yr.

    Yes, we have LOUSY credit, too. Hmmm

  13. #28
    Registered User mpmarty's Avatar
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    I am a USAA member and darn glad of it. AARP is an association of left leaning school teachers. I have never joined that ass-ociation and never will. USAA provides excellent service and their rates are reasonable, I checked rates and they beat all others for the same coverage with a wide margin.
    Marty - in the western Oregon mountains.'06RT, (gone '04RT, '86 Venture Royal, '81 Yamaha Virago920, '82Suzuki GS1100GK, '76 Suzuki GT750, Triumph 750 Bonneville, BSA Road Rocket 650, 61" Harley knucklehead)

  14. #29
    Unfunded content provider tommcgee's Avatar
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    Bike Insurance 101

    If you haven't looked at this, please do -- it prolly has info for your state -- at the very least, it is INSURANCE INDUSTRY INFO, and much more valid/informative than something some guy said on a forum.

    http://listerins.com/MCcoverage.htm
    Salty Fog Rally 2007, 2009, 2011, 2012, AND LOOKING FORWARD TO 2014!

    -Tom (KA1TOX)

  15. #30
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    The more I read this thread, the happier that I am with my Geico insurance for my '08 R1200GS...
    Dick
    R1200GS '08
    "Hey, where you goin'?" "Nowhere in particular." "Man, I wish I was you." "Well, Hang in there..."

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