chevyfleetside Posted April 12, 2007 Share Posted April 12, 2007 I was wondering what others were using for insurance. I have GMAC isurance and it seems to be the best deal for me. for my 2007 GS they are asking for $808 for 50,000/100,000.. Others seem to want $1000 to $1200.. THis is with a $500 detuctable... Link to comment
steve539 Posted April 12, 2007 Share Posted April 12, 2007 Whatever you do get as much underinsured motorist coverage as you can afford. Do NOT count on the cage to have the coverage or assets to cover the damage they do to you should the unthinkable happen. Link to comment
loujack Posted April 12, 2007 Share Posted April 12, 2007 I have Dairyland. I have a agent that I have been using for years, and he goes shopping for me ever couple of years. This last round Dairyland saved me some coin for the same coverage I had with progressive. Link to comment
smiller Posted April 12, 2007 Share Posted April 12, 2007 I wouldn't bother asking this question of anyone who doesn't live in California. Rates vary dramatically state-by-state and the most economical insurance company in one state may be the worst in another so you need comparisons from your own state in order to make a meaningful comparison. Link to comment
chevyfleetside Posted April 12, 2007 Author Share Posted April 12, 2007 Cost acually is differnt from City to City here also.. just looking for idea's on who to call.. Link to comment
barncobob Posted April 12, 2007 Share Posted April 12, 2007 ive had good luck with foremost here in ca. it is owned by farmers. Link to comment
motoguy128 Posted April 12, 2007 Share Posted April 12, 2007 When I was 23 with a sportbike, I had trouble getting any coverage. Statefarm gave me a good deal. My car is a little higher, but the bike rates are very good. My fiancee has USAA (she's a Navy Veteran) so that might be the best option for us. I can't wait until I get married. Overnight I become a responsible driver and they cut my rates by about 30%. So my suggestion, get married to a girl that likes motorcyles (if you aren't already). Otherwise shop around. You can get good discounts sometimes by getting multiple lines of coverage suhc as homeowners, life, flood or a car. You might pay more for one, but altogether, you can pay less. Link to comment
catmandoo Posted April 12, 2007 Share Posted April 12, 2007 how much would it be if you dropped your deductable to say 50-100??? Link to comment
Bob Palin Posted April 12, 2007 Share Posted April 12, 2007 So my suggestion, get married Possibly the worst advice I've ever seen on a BB... Link to comment
OoPEZoO Posted April 12, 2007 Share Posted April 12, 2007 I pay a little less than $550 a year for full coverage through State Farm for my R1100RT. Even back when I rode sports bikes, I always paid MUCH less for insurance premiums through State Farm than my buddies did with "discount" insurance companies. For what its worth, I'm 28 and unmarried. Link to comment
MikeB60 Posted April 12, 2007 Share Posted April 12, 2007 My fiancee has USAA (she's a Navy Veteran) so that might be the best option for us. I can't wait until I get married. Overnight I become a responsible driver and they cut my rates by about 30%. I have USAA car insurance and bank with them as well. Great company, but evidently they don't like motorcycles, their rate quote was double that of Geico. No crashes, tickets, current MSF training, and I'm 47. YMMV. Link to comment
HexHead Posted April 12, 2007 Share Posted April 12, 2007 Whatever you do get as much underinsured motorist coverage as you can afford. Do NOT count on the cage to have the coverage or assets to cover the damage they do to you should the unthinkable happen. Great advice, but keep in mind the UM coverage is generally the same as the liability limits. You probably can't get 250/500 UM and only have 50/100 liability. Link to comment
Deadboy Posted April 12, 2007 Share Posted April 12, 2007 Call CycleInsure/Rick Parsons in Fair Oaks, CA. He is a rider and finds great deals....I have Foremost for under $500 per year with very high coverage levels...I have used them for years and my rates go down every renewal.... 916 965 6000...... Link to comment
chevyfleetside Posted April 12, 2007 Author Share Posted April 12, 2007 Call CycleInsure/Rick Parsons in Fair Oaks, CA. He is a rider and finds great deals....I have Foremost for under $500 per year with very high coverage levels...I have used them for years and my rates go down every renewal.... 916 965 6000...... Thankyou Deadboy.. I did call them and got higher uninsured motorist then with the GMAC for $140 less.. This is why I started this thread. I just signed with them also and the check is in the mail.. Well almost.. Link to comment
Todd_Z1 Posted April 13, 2007 Share Posted April 13, 2007 My insurance strategy is to carry a large deductible, usually $2000. If you don't have any accidents or claims in the first two years then you are making money. I did the math on this some years ago and this really works. This is because comprehensive is the most expensive part of insurance. This strategy has saved me thousands of dollars over the years. I figure that if I have an accident that cost me less than $2000 then I put it on my credit card in the short term and pay that off. If the accident is over $2000 then I make a claim. This strategy, as I said, has worked extremely well for me and only once was it a problem. I totaled a new car within three months of the purchase and I made a less than 20% down payment. When I got the settlement check I still owed most of the deductible to pay off the car loan. What I learned from that is when purchasing a new vehicle, make at least a 25% down payment if financing. That way if the car is totaled at least you won't owe money after getting the settlement check. Cheers! Link to comment
paulcbrowne Posted April 13, 2007 Share Posted April 13, 2007 USAA won't take new policies and has been subbing out to Progressive and Foremost. I went to Foremost directly -- $470/yr. for 250/500 BI, 100 PD, -500 collision. Folks at work recommended them pretty highly. I'm in Virginia. Progressive and Markel (BMW) were almost double Foremost's premium. Link to comment
markgoodrich Posted April 13, 2007 Share Posted April 13, 2007 Whatever you do get as much underinsured motorist coverage as you can afford. Do NOT count on the cage to have the coverage or assets to cover the damage they do to you should the unthinkable happen. I'm not trying to contradictory, but I'm interested in why you suggest this coverage. As I understand it, the coverage will pay for medical expenses (your collision coverage will take care of the bike if the offending party has no insurance). However, if you have health insurance, it will provide coverage...so why get the UM? I asked my agent (Texas) this question a couple of years ago and the best answer they could come up with was "most people choose to get it." When I pressed, and made my health insurance point, they had no argument against it. I ask because if there's something I'm missing, I need to add the coverage. [in Texas, you are required by law to sign a statement saying you decline the coverage...an interesting requirement]. Link to comment
John in VA Posted April 13, 2007 Share Posted April 13, 2007 2006 RT insured by Progressive -- $405/year: BI 250k/500k, PD 100k, UMBI 250k/500k, UMPD 100k ($200 ded. if UM skips), Comprehensive $100 Ded., Free Towing/Labor. Link to comment
Lawman Posted April 13, 2007 Share Posted April 13, 2007 Whatever you do get as much underinsured motorist coverage as you can afford. Do NOT count on the cage to have the coverage or assets to cover the damage they do to you should the unthinkable happen. I'm not trying to contradictory, but I'm interested in why you suggest this coverage. As I understand it, the coverage will pay for medical expenses (your collision coverage will take care of the bike if the offending party has no insurance). However, if you have health insurance, it will provide coverage...so why get the UM? I asked my agent (Texas) this question a couple of years ago and the best answer they could come up with was "most people choose to get it." When I pressed, and made my health insurance point, they had no argument against it. I ask because if there's something I'm missing, I need to add the coverage. [in Texas, you are required by law to sign a statement saying you decline the coverage...an interesting requirement]. I have health insurance and therefore I always sign the the waiver for all my vehicles for UM. Link to comment
Deadboy Posted April 13, 2007 Share Posted April 13, 2007 You must have very good health insurance as a long term hospital stay will quickly eat through most folks coverage...not to mention those that find out the hard way they are not covered for MC related injuries....usually after the fact. http://www.amadirectlink.com/news/2007/HIPAAbill.asp For the minimual amount it costs for UM I gladly pay it... Link to comment
Crazy_Canuck Posted April 13, 2007 Share Posted April 13, 2007 I just got a quote from foremost insurance for my 1200RT at $4000 I have a perfect drivng record and my Progresive is at $400-500? Wow what a difference. Link to comment
smiller Posted April 13, 2007 Share Posted April 13, 2007 In most cases your health care insurance will cover injuries suffered in an accident, but even if so the co-pay amount (if you have a co-pay and most policies do) after a bad accident will probably have you at your yearly out-of-pocket cap, which could be several grand. The UIM would usually be secondary to your health coverage but it should cover the leftover out-of-pocket stuff, and again the dollar amount there could be significant. Given that UIM (at least in my case) is less than $100/year extra I think it's a good investment even though there may be some coverage overlap... would rather have the insurance companies fight it out over who should pay than the bill coming to me... Link to comment
Lets_Play_Two Posted April 13, 2007 Share Posted April 13, 2007 In most cases your health care insurance will cover injuries suffered in an accident, but even if so the cost but the co-pay amount (if you have a co-pay and most policies do) after a bad accident will probably have you at your yearly out-of-pocket cap, which could be several grand. The UIM would usually be secondary to your health coverage but it should cover the leftover out-of-pocket stuff, and again the dollar amount there could be significant. Given that UIM (at least in my case) is less than $100/year extra I think it's a good investment even though there may be some coverage overlap... would rather have the insurance companies fight it out over who should pay than the bill coming to me... And your collision coverage will pay only for the bike, less deductible, and probably not the extras, ie. radar, GPS, in some cases the top and side cases, the torn up gear and helmet and any other personal items being carried on the motorcycle, like your camera, ipod, xm radio, probably not the cost of that Russell Day Long, etc. UM pays for this. Link to comment
chevyfleetside Posted April 13, 2007 Author Share Posted April 13, 2007 I just got a quote from foremost insurance for my 1200RT at $4000 I have a perfect drivng record and my Progresive is at $400-500? Wow what a difference. That can't be right.. I would call the 916# that Deadboy gave me and see what he says.. Also I will be riding up to Kings Mountain over Memorial Day weekend.. Link to comment
markgoodrich Posted April 13, 2007 Share Posted April 13, 2007 In most cases your health care insurance will cover injuries suffered in an accident, but even if so the cost but the co-pay amount (if you have a co-pay and most policies do) after a bad accident will probably have you at your yearly out-of-pocket cap, which could be several grand. The UIM would usually be secondary to your health coverage but it should cover the leftover out-of-pocket stuff, and again the dollar amount there could be significant. Given that UIM (at least in my case) is less than $100/year extra I think it's a good investment even though there may be some coverage overlap... would rather have the insurance companies fight it out over who should pay than the bill coming to me... And your collision coverage will pay only for the bike, less deductible, and probably not the extras, ie. radar, GPS, in some cases the top and side cases, the torn up gear and helmet and any other personal items being carried on the motorcycle, like your camera, ipod, xm radio, probably not the cost of that Russell Day Long, etc. UM pays for this. Both good points. Here's a link to a clear explanation of UM coverage: http://tinyurl.com/2ly8so Dairyland, by the way, covers up to $3,000 in optional equipment in their standard bike policy. Link to comment
NoHeat Posted April 13, 2007 Share Posted April 13, 2007 In most cases your health care insurance will cover injuries suffered in an accident The May issue of MCN that I just received has a scare story telling you that maybe it doesn't. The columnist suggests a conspiracy of health-care insurers who are just waiting to surprise you with your lack of coverage if you make a big claim arising from a bike accident. Don't know if there's any truth to it. Link to comment
John in VA Posted April 13, 2007 Share Posted April 13, 2007 ...Given that UIM (at least in my case) is less than $100/year extra I think it's a good investment even though there may be some coverage overlap... would rather have the insurance companies fight it out over who should pay than the bill coming to me... Insurance is a racket, to be sure, but being underinsured is foolish. A hundred bucks for UM coverage is an incredible bargain, if you think about it. Hopefully, we'll never need it, but if we get truly messed up by a crazed motorist, serious hospitalization, surgeries, etc. can eat through a hundred grand real fast, and we'll thank the lord we'd spent a crummy hundred bucks on insurance -- with NO deductibles or co-pays. If I somehow hit a pedestrian through a freak accident, I'm going to be real happy I have $500k insurance. You just never know what can happen, no matter how careful and conscientious we are. Link to comment
chevyfleetside Posted April 14, 2007 Author Share Posted April 14, 2007 If I didnt have UM in my last accident I would have been SOL.. Link to comment
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