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Thread: Insurance premiums....

  1. #46
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    Quote Originally Posted by TwoMetreMan View Post
    Was that through an agent or online??? - if you care to share!!
    As I said earlier & from several yrs ago recall I think my online 800# Progressive quote was ~ twice the agent quote. I wonder what makes the difference-discounting by agency of their margin?
    "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.

  2. #47
    Old man in the mountains osbornk's Avatar
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    Quote Originally Posted by deilenberger View Post
    It won't matter. No insurance company undercuts their authorized agents, it would be suicide to do it (the agent would immediately start switching people to other companies.)
    That is not necessarily true. Progressive is sold through independent agents rather then exclusive agents and the rates vary widely for the same coverage. Independent agents switch their customer's coverage to different companies all the time for better prices, better coverage and sometimes even for better commissions for themselves.

    Three of us locally have Progressive Insurance and we all have similar histories regarding credit, lack of accidents and tickets, etc. I have it on-line and the other two have different independent agents. I pay less for full coverage than one of my friends pays for liability coverage only.

    The insurance company I retired from uses exclusive agents and several years ago, started selling on-line in some areas. They undercut their own exclusive agents and basically told the agents to take it or leave. Exclusive agents don't have the option of switching companies at will.
    'You can say what you want about the South, but I almost never hear of anyone wanting to retire to the North.

  3. #48
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    Quote Originally Posted by osbornk View Post
    That is not necessarily true. Progressive is sold through independent agents rather then exclusive agents and the rates vary widely for the same coverage. Independent agents switch their customer's coverage to different companies all the time for better prices, better coverage and sometimes even for better commissions for themselves.

    Three of us locally have Progressive Insurance and we all have similar histories regarding credit, lack of accidents and tickets, etc. I have it on-line and the other two have different independent agents. I pay less for full coverage than one of my friends pays for liability coverage only.

    The insurance company I retired from uses exclusive agents and several years ago, started selling on-line in some areas. They undercut their own exclusive agents and basically told the agents to take it or leave. Exclusive agents don't have the option of switching companies at will.
    If they are licensed...and they have to be...they can go with any other company that will have them. Of course, they might and probably will be giving up renewal commissions and more...but they can move.
    Last edited by Motodan; 07-17-2013 at 06:11 PM.
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  4. #49
    rabid reader dbrick's Avatar
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    Quote Originally Posted by martyhill View Post
    Lucky you, guess you were grand fathered in. They don't take new customers/they send you to progressive now.
    True, but it's not always rosy with USAA. I am a USAA member, and had USAA coverage on cars and bikes since the planet cooled. I still have some investments with them. The service was always excellent, including the available of comprehensive coverage for the bike when I shipped it to Europe one summer, but the premiums are high.

    While I liked their service, it wasn't sensible for me to continue. I jumped ship this spring to State Farm, which already had the house insurance because USAA's quote was way too expensive. My total insurance bill (vehicles and property) declined about 30%. I expected a small degradation in service, and chose to accept it in exchange for a significant price reduction. As fate would have it, my wife and I each had a smallish car claim after the switch: the claims were adjusted quickly and without pain.
    David Brick
    Santa Cruz CA
    2007 R1200R

  5. #50
    Registered User cehlbeck's Avatar
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    Quote Originally Posted by scalese01@verizon.net View Post

    Check into Foremost!!!!


    Here in Georgia I switched to them 3 years ago. I increased coverage AND lowered my deductibles and they were 1/3 of my old GEICO renewal. I still compare every year and stay with Foremost. 2002 K1200LT and $110 a year for full coverage and $250 deductibles.
    Chris Ehlbeck
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  6. #51
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    Quote Originally Posted by dbrick View Post
    True, but it's not always rosy with USAA. I am a USAA member, and had USAA coverage on cars and bikes since the planet cooled. I still have some investments with them. The service was always excellent, including the available of comprehensive coverage for the bike when I shipped it to Europe one summer, but the premiums are high.

    While I liked their service, it wasn't sensible for me to continue. I jumped ship this spring to State Farm, which already had the house insurance because USAA's quote was way too expensive. My total insurance bill (vehicles and property) declined about 30%. I expected a small degradation in service, and chose to accept it in exchange for a significant price reduction. As fate would have it, my wife and I each had a smallish car claim after the switch: the claims were adjusted quickly and without pain.
    Hey Dave, also a USAA member since the earth cooled. I've seen the rates go up to the point that I am now looking around. Been with them for about 40 years.
    Marty Hill
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  7. #52
    rabid reader dbrick's Avatar
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    Quote Originally Posted by martyhill View Post
    Hey Dave, also a USAA member since the earth cooled. I've seen the rates go up to the point that I am now looking around. Been with them for about 40 years.
    Email sent.
    David Brick
    Santa Cruz CA
    2007 R1200R

  8. #53
    Peter D dunc723's Avatar
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    Happy with Progressive

    Had Progressive for my auto insurance for years, and have been very happy with them; occasionally shop around for better rates and never find any. So I went with them for my MC insurance... 100/300 liability, $1000 deductible on comprehensive and collision, $225/year on my 2004 K1200GT in TN. (51 years old, BTW, with a very clean driving record and credit history.) I think it's hard to do any better. I have never gone through an agent. My daughter got a separate policy from Progressive on her '85 Honda Rebel 250 when she was 15, same liability but no comp/coll coverage, $115/year.
    Some days you win, some days you lose, and some days it rains. Think about it.
    Current: K1200GT Prior: Honda VTX1300C, Yamaha FZ6, Honda Shadow 600

  9. #54
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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?
    I have an idea why this :just drive the QEW on a Saturday afternoon! Its like a NASCAR free for all with nut cases driving clapped out 20 year old cars with worn out suspensions and bald tires, 80+mph with an arms length separation between bumpers. The OPP needs about 100 times more officers than they have available to calm that thing down, so the situation will remain the same.

  10. #55
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    Quote Originally Posted by dunc723 View Post
    Had Progressive for my auto insurance for years, and have been very happy with them; occasionally shop around for better rates and never find any. So I went with them for my MC insurance... 100/300 liability, $1000 deductible on comprehensive and collision, $225/year on my 2004 K1200GT in TN. (51 years old, BTW, with a very clean driving record and credit history.) I think it's hard to do any better. I have never gone through an agent. My daughter got a separate policy from Progressive on her '85 Honda Rebel 250 when she was 15, same liability but no comp/coll coverage, $115/year.
    You are echoing where my head is going right now, Peter. From what research I've done for my own circumstances here in nearby "TN Boonies," Progressive easily gets the contract.

    Thanks!

  11. #56
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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.
    The worst part about insurance in Ontario is that you pay Accident Benefits premiums for every vehicle you insure. AB has very little to do with the vehicle and should be tied to the driver's licence.

    Furthermore, under AB, if you are insured through your workplace, the insurance company are last payers and will not even have to dish out a penny. How will they pay my loss of income when I am retired and on a guaranteed pension. Talk about theft!


    Quote Originally Posted by Darryl Cainey View Post
    I only have one bike, a second one would be the same cost.
    No it won't; not if you move to Austria. Over there, you pay one insurance and get one plate. You move it from bike to bike as you please...up to three motorcycles. Collision, fire and theft are extra of course, but at least liability is a one vehicle premium.

  12. #57
    Registered User cehlbeck's Avatar
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    Quote Originally Posted by TwoMetreMan View Post
    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!!...
    I wonder the same thing. At my last renewal in MOA over a year ago I called went online to get a quote (and to get the little bag offered to put my Anonymous Book in). The quote was much higher than I has just renewed with at Foremost and even higher than GEICO who I had left for Foremost. In addition, the website wouldn't accept the code for the bag. I called Markel and got an even higher quote on the phone, they took the number though for the bag and said "2 to 3 weeks to receive it". 15 months later no bag either. I'm curious too.
    Chris Ehlbeck
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    Chris & Donna's Motorcycle Journeys

  13. #58
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    Quote Originally Posted by cehlbeck View Post
    I wonder the same thing. At my last renewal in MOA over a year ago I called went online to get a quote (and to get the little bag offered to put my Anonymous Book in). The quote was much higher than I has just renewed with at Foremost and even higher than GEICO who I had left for Foremost. In addition, the website wouldn't accept the code for the bag. I called Markel and got an even higher quote on the phone, they took the number though for the bag and said "2 to 3 weeks to receive it". 15 months later no bag either. I'm curious too.
    Back in the day, when I used to work for oil companies, the word amongst we "ground troops" was that "...they make money despite themselves..." In other words, regardless of any and all stark inefficiencies and utter lack of logic or (not-so-)common sense, the money still rolled in.

    Apparently, that still holds true in other corporations...???

    How else do they continue to exist???...

  14. #59
    Registered User danvestedbb's Avatar
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    Quote Originally Posted by TwoMetreMan View Post
    Got a nasty surprise in the mail today. The invoice for the next twelve months' bike insurance (through Markel) and the premium has risen a cool 20.42%. That was a decided "ouch." The big numbers are for "Comprehensive - Actual Cash Value" and "Collision - Actual Cash Value." Unless my bike (2008 R1200RT) has become an appreciating asset overnight (?), it looks as though the lower risk (reducing capital cost) is attracting higher premiums. Nice for the underwriters, but not for my bank balance.

    Am I missing some part of this picture that makes this (to me, dramatic) increase more justifiable, or are Markel wanting out of the bike insurance market?? Needless to say, I'd welcome suggestions of alternative firms to try. I primarily went with Markel because of the association with the MOA.
    I used to be in the insurance business for a number of years and currently use Dairyland Motorcycle Insurance. My '05 R1200RT has full coverage with them for just over $320 per year. The agent who I use and who I used to work with has about 20 years in the business. She has a great reputation. Tell her Dan Schmidt referred you. They can insure in all 50 states:

    Ms. Claudia Lovrity-Smith
    John M Glover Agency
    http://www.johnmglover.com/
    e-mail:clovrity@johnmglover.com
    Dan Schmidt
    http://www.vestedbb.com
    2005 BMW R1200RT

  15. #60
    Old man in the mountains osbornk's Avatar
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    Quote Originally Posted by TwoMetreMan View Post
    Back in the day, when I used to work for oil companies, the word amongst we "ground troops" was that "...they make money despite themselves..." In other words, regardless of any and all stark inefficiencies and utter lack of logic or (not-so-)common sense, the money still rolled in.

    Apparently, that still holds true in other corporations...???

    How else do they continue to exist???...
    I worked in the claims department of a major insurance company for almost 32 years and we couldn't believe they could stay in business with their business practices and the waste of money through their foolish decisions and inefficiencies. When I retired, I wondered if they would continue to be able to pay me my pension. since I retired ten years ago, they have made a lot of money and they are thriving. Imagine how much they could cut rates if they knew what they were doing.
    'You can say what you want about the South, but I almost never hear of anyone wanting to retire to the North.

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