Multi Bike Insurance

[Jaycee1964]

I have no idea why you all are paying so much?  I have 2 bikes on my policy. 02 heritage and an 06 deluxe.  I have full coverage and only pay $488 for a year thru progressive.  Maybe it's cheaper in my state?

Up there in the north land you guys can only ride 2 month out of the year so the rates are lower.
Is full coverage the minimum required by the state?

There is no requirement for insurance in New Hampshire.  Full coverage= Fire, theft, collision, comprehensive, towing, rental.  All with $100 deductable.  I ride all 12 months as long as there is no ice on the roads and it's above 30 degrees.  Maybe cuz i'm in the sticks it's less?  dunno... Never hear of thefts around here.  That may be a factor.

[dunbarton]

Jeez, Good Luck with This man. You are Right though, Common sense Left Most, MANY Years ago.
I'm going to Try to follow this thread as much as I can, even though I live in Canada, Home of the Screw EVERYBODY on Insurance, Companies, I Might see some answers that could Perhaps Make sense to ask about over here. Most people in my Age and Safe driving Category, and similar year & Model Bikes, pay from $900.00, to $1,200.00 a year, and That does not always include Any Special coverages, (Theft, Collision etc)
We have this absolutely ridiculous piece in our Insurance, (For At Least Ontario), that is called the Uninsured Motorist coverage, or Something like that, that costs us the Most amount of Money here. Typical Price of Around $800.00 on an Eleven hundred dollar Insurance Premium. Not Everyone can Collect it, but It's Mandatory for EVERYONE! I Pay it on my Bike, P/U, and family Van, and because I'm disabled, I have been told by Every insurance Co. I looked into, I Can Not Collect it if I Needed to! Yeah, Right!
Anyways, as I said, Good Luck, and Wouldn't it be Great if You Could Find something that made Sense about insurance Co.

I've been sitting @ $1200 for many years (Toronto). The rate keeps inching up and the coverage stepping down...LOL. Check your policy for personal injury. That represents nearly 1/2 the total premium now, and covers medical costs outside of OHIP like long term care, rehab etc should you be injured in an accident. It is now capped at a very low level (min standard), and if you want higher $ coverage, the meter clicks up fast. I don't know anyone with bad driving record but I bet it would be easy to get the premium up to $5K/year. Some of my older riding friends have given up their bikes because of the high costs and low usage. If they only ride the bike 10 times in the summer, that's $100/ride just for the insurance at $1200/year.

[truck]

I ride all year long as long as there is no ice.  I am out in the sticks so perhaps the theft part is not as much an issue.  Full coverage means, fire,, theft, collision, comprehensive, towing, rental.. yada, yada.  $100 deductable

How many dollars worth of coverage do you have for damage to the other person and his property?

[sfmichael]

Shop around, just make sure you're comparing apples to apples in coverage.
When I went from 2 bikes to 3, the company I had at that time was going to charge me $600 per year for the third bike. That rate was more than I was paying for both my other bikes.
Another company covered the 3rd bike for $120 per year  for the same coverage.

Who'd you switch to?

[Jaycee1964]

I ride all year long as long as there is no ice.  I am out in the sticks so perhaps the theft part is not as much an issue.  Full coverage means, fire,, theft, collision, comprehensive, towing, rental.. yada, yada.  $100 deductable

How many dollars worth of coverage do you have for damage to the other person and his property?

Just looked online and I have $100,000/$300,000

[76shuvlinoff]

Get it quoted at $1000 deuctables. I put $1k deducts on everything, house, bikes, cages. Face it, what is $1k gonna fix vs how fast can you save that much on premuims?

[smittyon66]

Shop around, just make sure you're comparing apples to apples in coverage.
When I went from 2 bikes to 3, the company I had at that time was going to charge me $600 per year for the third bike. That rate was more than I was paying for both my other bikes.
Another company covered the 3rd bike for $120 per year  for the same coverage.

Who'd you switch to?

On the bikes I went from Dairyland to Geico. I already had the homeowners thru Geico and switched the cars over at the same time, but the bikes and cars are on separate policies. Still, that probably had a lot to do with the big difference in price. I do shop all my insurance every couple of years and look for the best deal. I'm carrying 250k/500k liability and full coverage with $500 deductibles on all my vehicles.

[NETacomaFatboy]

Me again...

I did a search on Google and started getting quotes as I was not happy that Geico did not come down much in the renewal.

What was wierd was when I called Progressive direct, it was $1,100 ish.  Then I saw HD Insurance and went on that website for a quote.  Tha was also through Progressive but is was slightly cheaper and if I paid it all at once, it was $900.

So, keep looking when you need to renew.  Also, do not forget to call up your Insurance company to let them know you are not renewing.  They will automatically charge your card if you do not.

[dunbarton]

Shop around, just make sure you're comparing apples to apples in coverage.
When I went from 2 bikes to 3, the company I had at that time was going to charge me $600 per year for the third bike. That rate was more than I was paying for both my other bikes.
Another company covered the 3rd bike for $120 per year  for the same coverage.

Who'd you switch to?

On the bikes I went from Dairyland to Geico. I already had the homeowners thru Geico and switched the cars over at the same time, but the bikes and cars are on separate policies. Still, that probably had a lot to do with the big difference in price. I do shop all my insurance every couple of years and look for the best deal. I'm carrying 250k/500k liability and full coverage with $500 deductibles on all my vehicles.

I'm not familiar with insurance requirements in the U.S., being a Canadian resident, but some of the insurers do biz in both countries and likely offer some similar policies and approaches to insuring in both countries where it makes sense.
Some insurers like State Farm offer blanket PL &PD coverage as a separate policy. This can be good if you own several vehicles because that policy covers them all. What you do is take the minimum PL&PD allowed by law on each vehicle, and then supplement with the blanket policy to get the actual amount of coverage you want. ie if the min required is $100K PL&PD but you want $1M, then you get the coverage for that vehicle with $100K and buy the separate policy with $900K. That $900K applies to any other vehicles you own too. This usually is cheaper than carrying the $1M on each policy if you own say 1 mc and 2 cars which is pretty common.In Ontario it is quite common to carry $1-2M liability. Seems a lot but so are some of the settlements in some cases.
If you ow a lot of vehicles and maybe even multiple homes, it may be worthwhile to explore the use of blanket policies to get better coverage for less $.

[smittyon66]

Shop around, just make sure you're comparing apples to apples in coverage.
When I went from 2 bikes to 3, the company I had at that time was going to charge me $600 per year for the third bike. That rate was more than I was paying for both my other bikes.
Another company covered the 3rd bike for $120 per year  for the same coverage.

Who'd you switch to?

On the bikes I went from Dairyland to Geico. I already had the homeowners thru Geico and switched the cars over at the same time, but the bikes and cars are on separate policies. Still, that probably had a lot to do with the big difference in price. I do shop all my insurance every couple of years and look for the best deal. I'm carrying 250k/500k liability and full coverage with $500 deductibles on all my vehicles.

I'm not familiar with insurance requirements in the U.S., being a Canadian resident, but some of the insurers do biz in both countries and likely offer some similar policies and approaches to insuring in both countries where it makes sense.
Some insurers like State Farm offer blanket PL &PD coverage as a separate policy. This can be good if you own several vehicles because that policy covers them all. What you do is take the minimum PL&PD allowed by law on each vehicle, and then supplement with the blanket policy to get the actual amount of coverage you want. ie if the min required is $100K PL&PD but you want $1M, then you get the coverage for that vehicle with $100K and buy the separate policy with $900K. That $900K applies to any other vehicles you own too. This usually is cheaper than carrying the $1M on each policy if you own say 1 mc and 2 cars which is pretty common.In Ontario it is quite common to carry $1-2M liability. Seems a lot but so are some of the settlements in some cases.
If you ow a lot of vehicles and maybe even multiple homes, it may be worthwhile to explore the use of blanket policies to get better coverage for less $.

Here each state has it's own minimum requirements. In IL, it's 20k/40k (a joke). The price of liability insurance here isn't that great and you don't need a separate policy on each vehicle. Your auto policy will cover all the vehicles you list on it. They do write a separate policy on motorcycles, but again one policy will cover all the bikes you list on it.
100k/300k liability is pretty common but a lot of people do carry 250k/500k. Any claims over that would usually be covered by uninsured/underinsured coverage.

I'm very familiar with what you're referring too. We usually call that type of personal liability coverage as an umbrella policy. They're not too common over here but are gaining acceptance. I do have a $1m umbrella, but that was mainly because of my involvement in community activities and youth sports. Most people here don't use them primarily as a supplement to their auto or motorcycle insurance.

When I had my own business, I also had a Garage Owners policy. It covered myself and my employees in any vehicle they drove in the course of business, regardless of what insurance the vehicle owner had (or didn't have).

[dunbarton]

Thanks for that explanation.
For sure insurance is a complicated issue and few understand it as well as they should, until it's too late that is. I know a lot of people are anti-regulation and don't want gov't meddling in their lives. Without industry standardization of insurance contracts and sensible mandated minimum coverage where everything is laid out in simple terms, it pits you against a team of expert lawyers who's sole objective is to peel you like a grape.
I know a number of people who used to always volunteer to drive kids to sports tournaments etc, and they don't now because of the liability. Same with doing a shade-tree minor repair or service like brake pad replacement for a buddy... not any more. I unexpectedly found myself at an organized group's planned ride where they asked all riders to sign a waiver releasing them personally as well as all other riders from any liability should there be a mishap on that ride. Of that group, I was the only one to say I wouldn't sign anything like that. I don't know any of these people or their riding skills let alone what could happen. Needles to say, I didn't go with them.
Bottom line is that it's a wise decision to understand specifically what you are covered for, and also not covered for. If you don't know, then ask and get it in writing if necessary so there's no confusion later. There's a lot more to  good insurance than just price.

[KatalogKarl]

  Agreed, I tried again to get quotes for at least 2 of my scoots that are over 25 yrs old. Have gone through a few companies. Hagerty, progressive,Usaa,American classics and a few more. Still have more to call. With me 100/300, 50k prop. 10k med, 20-40k uninsured/underinsured motorists stuff. These mentioned above have a rate from 1100 to 1500 a year. With a dui 6 years ago. And some of these mentioned above will give regular insurance policy but no collectors insurance due to that. Which would have been like 310 for everything a year. Some States with a dui will automatically hike your level of insurance to at least 100/300 minimums. Florida is funky since its the 3rd state in the union that leads with that. So dairyland right now treats me to 535.00 with no comp or collision. For what I seen the comp and coll for some rates were in the 300 to 600 price of the policy next being medical. I was told once I get past the 10 year mark on my f-ck -p the cheaper companies will insure me. But that's the price I pay for being a "Potty mouth" and screwing up. Here in this part of Florida alot of the local Yokel's don't even carry insurance on anything and one takes his chances when riding in this area. No happy medium or prices anywhere... Forget about driving or giving rides to people, a Accident (lawsuit)waitin to happen. Agree with dunbarton..    Progressive was out of this world even though I have them with my car, and thats 300 a year with the same coverage above. Go figure. Oh yeah I forgot to mention Florida has a tax on all insurance for the state Hurricane fund 10 to 20 buks per vehicle per year. At least in my case. isn't that just dandy

[Buglet]

             Just paid mine, 82 fltc with sc and 09 xr1200, 100/300 50k. $99 up in the NE progressive. Hagerty is the best for full coverage on the 82 They will cover it for 30k for $350.

[76shuvlinoff]

 In 03 I got tagged by a hit and run, actually the driver left the Ford Explorer sitting there and disappeared in the crowd while I was out cold in the street. Later the Explorer was reported stolen.... go figure. I had $20k uninsured coverage but Progressive stalled me..... until my attorney got involved.

With as many clowns out there driving/riding without a give-a-"Potty mouth" and without insurance, I raised my uninsured coverage to $50/100K. I think everyone out to consider this just to protect themselves from the asshats.

Back to your regularly scheduled program....

[Scooterfish]

   don`t forget UNDER- insured as well.

[truck]

Three days in the hospital for a scheduled surgery for my wife cost $189,000.00. You might want to up your coverages.