SuzukiSavage.com - Motorcycle Insurance

MMRanch

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Motorcycle Insurance
02/20/24 at 19:51:38

Hay guys

I just got my Geico Motorcycle Policy renewal bill.

It seems to me that they have took a big jump in the wrong direction.

Even after Rejecting "Uninsured Motorist Property Damage" it's still $363. a year for the (($100,000/300,000/50,000) w/$1000.00 Comprehensive deductible.) $1,000 ded is almost like paying for all repairs on my own anyway ! Roll Eyes

Does that amount seem more than you folks are paying ? Huh

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springman Serious Thumper Offline SuzukiSavage.com Rocks! Posts: 2195 Spring, Texas Gender:	Re: Motorcycle Insurance Reply #1 - 02/21/24 at 10:03:39 MM. how many bikes is that for?
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MMRanch Serious Thumper Offline Evil flourishes if Good Men do Nothing. Posts: 5731 LYNCHBURG TN Gender:	Re: Motorcycle Insurance Reply #2 - 02/21/24 at 15:53:45 Two , 350cc and 650cc . But Only one driver . Geico jumped over $150.00 from two years ago when I had the 750 Guzzi and a 650 Suzuki --- to having a 350 and a 650 Enfield's It seems to me the price should have gone down if it changed at all. I'm thinking "I should look for a different company"
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verslagen1 YaBB Moderator ModSquad Online Where there's a will, I want to be in it. Posts: 28770 L.A. California Gender:	Re: Motorcycle Insurance Reply #3 - 02/21/24 at 16:31:50 aren't those both new bikes?
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LANCER Serious Thumper Alliance Member Offline Savage Beast Performance Parts Posts: 10604 Oklahoma Gender:	Re: Motorcycle Insurance Reply #4 - 02/21/24 at 19:36:24 Yep
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MMRanch

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Re: Motorcycle Insurance
Reply #5 - 02/22/24 at 07:50:40

So , Parts cost more for New Bikes ,
or.
There not as easy to , just "Total-Out" Roll Eyes

Enfield parts seem to have less mark-up when they are bought on-line , compared to other brands , the sheer numbers of them produced has to have an impact.
But , I understand what ya mean , even if they have "Retro Styling" they are still New ...

I'll check to see if a better deal is out there ? Geico has had me for a 2 wheeled customer for over 20 years .

With the auto insurance I have to switch companies every few years so they will keep the best price in place . Roll Eyes

It seems that Geico Bike Insurance Wing has a new manager ?

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springman Serious Thumper Offline SuzukiSavage.com Rocks! Posts: 2195 Spring, Texas Gender:	Re: Motorcycle Insurance Reply #6 - 02/22/24 at 12:27:08 MM, I got a pretty good deal with Progressive last year. You may want to give them a call. My insurance is coming up for renewal here soon also. Hopefully they have not gone up much.
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ThumperPaul Serious Thumper Online SuzukiSavage.com Rocks! Posts: 1071 Houston, Texas Gender:	Re: Motorcycle Insurance Reply #7 - 02/22/24 at 13:40:00 I’m with Progressive. But I only have liability insurance. I’m paying about $140/year for 2 bikes (2006 Honda Shadow 750 and 2005 S40). At least check them out.
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Dave

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Re: Motorcycle Insurance
Reply #8 - 02/22/24 at 13:50:20

Prices for just about everything are going up.....why wouldn't the cost of insurance?

I had Progressive for a while, and they willingly took my payments. I stopped using them when a friend had a bad experience with them. He had a 1984 BMW GS1000 - a Paris/Dakar bike. It was in very good shape and worth around $5,000. He had an accident in VA and it bent an engine crash bar, broke a turn signal, and broke a headlight. When Progressive looked at the damage they valued the bike at $1,400! He had a choice of them totaling the bike and taking it from him - or they would give him $600 in damage and he could keep the bike. Progressive had horribly undervalued his bike.....go look for an excellent example of this bike and try to buy it for less than $5,000! Cheap insurance is OK....as long as you never need to file a claim!

Insurance rates also vary depending on where you live. My riding season is only 7 months long, and the theft rates around here are pretty low.

I think that $363 is a good price for 2 bikes.

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« Last Edit: 02/22/24 at 15:15:11 by Dave »

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MMRanch

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Re: Motorcycle Insurance
Reply #9 - 02/22/24 at 18:14:27

an engine crash bar, broke a turn signal, and broke a headlight.

Wow ! $600.00 for a crash bar, a turn signal , and a headlight !

I just put a set of case guards on the 650 for under $100.oo , so $500.oo for a turn signal and a headlight sounds good to me.

But , I was looking at Progressive Bike insurance today.
There were three levels of payment options :
1. Actual Cash value
2. Replacement Cost
3. Damage cost

The Price adjusted it's self with which on I clicked on.
I chose the Replacement Cost for the extra few $$'s on the 2024 bike
and Actual Cash value on the 2022 bike.

So , I got $250.oo deductible on the Comprehensive this time when Geico had me down for $1,000.oo deductible

It was lower cost .... Ready .... $201.00 for two bikes .
I don't know why I ever felt any Loyality to Geico in the first place ?

Oh , also Progressive had two levels of Road-Side assistance . I up graded to the top level for the 2024 bike for the extra $10.00
I hope I never need it ! I never want to have a flat tire out on the road again !!! Thank goodness for Friends !

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I see and feel the Holy Spirit in the world , as does anybody who has eyes to see. How far Man's corruption reaches into Organized Religion , we may never know

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Dave

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Re: Motorcycle Insurance
Reply #10 - 02/23/24 at 03:07:56

MMRanch wrote on 02/22/24 at 18:14:27:

an engine crash bar, broke a turn signal, and broke a headlight.

Wow ! $600.00 for a crash bar, a turn signal , and a headlight !

The crashed motorcycle was from 1984 and is 40 years old! The crash bar was no loner available from BMW - the headlight and turn signal still are but they are a bit costly.

He did the repair work and bought used parts and straightened and painted the crash bar himself.

Progressive will likely be able to handle damage to a modern motorcycle that is still in production a bit differently than they do a vintage bike. However - he stopped using Progressive as he has several vintage bikes (Ducati, Norton, Matchless, Vincent) and never wanted to have to deal with the claims department of Progressive in the future.

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LANCER

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Re: Motorcycle Insurance
Reply #11 - 02/23/24 at 05:15:56

Progressive insures my bikes. Monthly cost was $27/mo. for just the Savage(‘86), and when I added the BSA (‘71) it went to $30. My coverage is liability only.

Uninsured motorist: $50k/per, $100k/acc
Bodily injury: $250k/per, $500k/acc
Property damage: $100k/acc
Medical payments: $2500/per

Roadside assistance is included for both bikes.

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springman

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Re: Motorcycle Insurance
Reply #12 - 02/23/24 at 10:53:10

My coverage renews in May. My current term for the 2 bikes, 2006 S40 and 1997 Honda Shadow Spirit 1100 full coverage paid around $170.00/year. Actual replacement for the S40 and agreed upon value for the Honda. The only reason I have full coverage is that the Progressive quote with full coverage was substantially lower than my previous carrier with liability only. Hopefully progressive will remain reasonable when renewal time arrives.

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06 S40 seat mod, airhawk, HD muffler, Shinko 712 140-90-15 rear tire, Shinko 230 front tire, versy cam chain tensioner, Rotella oil, Volar brake pads, EBC clutch & springs

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MMRanch Serious Thumper Offline Evil flourishes if Good Men do Nothing. Posts: 5731 LYNCHBURG TN Gender:	Re: Motorcycle Insurance Reply #13 - 02/23/24 at 15:54:27 Lancer ! What's this ?? I added the BSA (‘71) You have a rideable 1971 BSA ? I might have to come visit a day early ???
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Ruttly Serious Thumper Offline Thumpers Rule Posts: 4997 Manteca , CA Gender:	Re: Motorcycle Insurance Reply #14 - 02/26/24 at 09:15:32 I use Foremost m/c insurance for 3 bikes , don’t know what I paid can’t find the bill. It’s not bad , I think. Retired , I don’t think real hard.
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