Insurance - shop around!

[wjduke]

I finally learned to shop for insurance every year. It took years for me to try, but it pays off. My current agent just got beat by my new agent, by $600 a year, just on my car, and that doesn't include the $300 cheaper he was on the bike. We're talking $900 a year, and it took one phone call. I know about bundling, but it seems that my current agent has forgotten.

I lease my car, so I have to have mandatory full coverage(minimums). I put good full coverage on the bike, as I own it outright and want it covered for repairs. Massachusetts controls the rates. There's no excuse for this besides a money grab.

I also learned from my bike accident, that minimum insurance can't hurt me. The guy that hit me had it, and he walked away nearly scott free. This action may not work for everyone, but it does for me.

Take a few minutes and make some calls....you may be surprised.

[Steve 0080]

I have had the same agent/company for 30 years...no BS when I call ! Period...loyalty is a
benefit as well !!!

The biggest issue you have Sir is the state you live in !!! :shock:

[wjduke]

I have had the same agent/company for 30 years...no BS when I call ! Period...loyalty is a
benefit as well !!!

The biggest issue you have Sir is the state you live in !!! :shock:

That's partly true. Unless I move, it's what I got. My previous agent to these last two had me for 15 years, until I hit the phone and found out I was getting shafted. They lost me and never even called to find out why. Loyalty is out the window...at least up here.

[opas ride]

That's partly true. Unless I move, it's what I got. My previous agent to these last two had me for 15 years, until I hit the phone and found out I was getting shafted. They lost me and never even called to find out why. Loyalty is out the window...at least up here.

Insurance rates vary from state to state, company to company, and so many other variables it is impossible to compare on this board or any other web sites...Driving records, credit history, age, accidents, extent of coverage, etc.etc...It is useless trying to compare apples to oranges...Loyalty works for some companies, others it does not...If your happy with what you have, stick with it!!!...I have shopped around over the years with several different companies and in the end, no real money differences...My local agent and I have been together for over 40 years and it is still the best for me.....JMHO

[shooter]

Steve no matter what you think , Duke is right. If you have had the same insurance more than three years you are probably paying too much. It pays to shop around. I shop every year. Sometimes I don't need to change. When I bought my second bike , the B , Nationwide hit me hard on coverage. I shopped around and found that Allstate could save me 50%. I actually insure both bikes for what I was insuring one. Yeah States differ in their rates but some companies want your business worse than others. A lot of my riding buddies have switched to Allstate for their bikes. Some people get hung up on having Home , Auto , and Bikes with the same company. Farmers has my House and three vehicles. They give me the best rates I can get on those things. They want more than double , yes double , what I pay with Allstate for the bikes. Don't know why. That's just the way it is. So if you are comfortable with your agent and.don't mind throwing money away , don't check around. If you work hard for your money like I do and don't want to give it away , do like Duke and I , shop around and save.

[shooter]

What Duke said. "Take a few minutes and make some calls". That's the best advice you will hear this year.

[wjduke]

What gets me is that the agent I'm switching to, at least with my bike, quoted from the same insurance company, Progressive. On the car, I'm currently with "Hanover Group", so not sure what individual company has it. I think the new guy is going with Progressive also. I personally don't care what company it is.

Shooter made my point for this thread. It's really for the guys who are with the same company and just write the check each year or month, whichever. I'm not so sure they're as loyal to you as you think. In some cases, maybe so. It proved to me that I was "just a number" the whole time.

What spurred this on a few years ago, was when I got into biking again after many years. I went to my agent, who I had been with all those years, to insure and register it. My city of residence has higher rates than surrounding towns. I work with a guy who lets me garage it at his house, (at his insistence I might add :icon_biggrin:) which allows me a cheaper rate. My agent put my city in the box that asked where you garage it. I corrected her, and right away she looked at me and said, "you're going to get caught". She called me a liar right to my face and that started the ball rolling to find another agent.

[seadog]

Michigan is the most outrageous state with very high insurance rates, which some say the state has the worst insurance rates in the country. I could believe that trying to get a good rate on anything is a full time job up here.

[wjduke]

Michigan is the most outrageous state with very high insurance rates, which some say the state has the worst insurance rates in the country. I could believe that trying to get a good rate on anything is a full time job up here.

It's bad in my state too. Don't know where we fall in expensive places to live, but it can't be good. Plus it's an economically depressed area. Sam's Club just closed after being here maybe 3 years. At work yesterday someone said that in my city 66% are on some kind of assistance. I have some family ties that make it hard to move away, but I'd love to.

[opas ride]

Michigan is the most outrageous state with very high insurance rates, which some say the state has the worst insurance rates in the country. I could believe that trying to get a good rate on anything is a full time job up here.

I have my car and truck, F6B, homeowners all with State Farm in Michigan and it costs me a fortune each year!!!...Insuring the exact same stuff with the same company in Oklahoma, where my daughter lives, would save me almost $800....Go figure!!!...Michigan insurance laws "suck" as does the gas tax.....Some of the worst rates in the USA....If I could move I might....Ride safe

[maxrider]

Best advise ever: Check every year, this year Progressive tried to stick me with almost double the rate from previous year??

When asked you get no answer why, so Geico it is for the time being with the same rate I enjoyed the previous year with Progressive.

Car insurance , shopped around and have been with several Big company's, ultimately I settled for IDS who underwrites for Costco, saves me 80% from nearest Big Company.

So yeah make the phone call, easy money, and forget about the loyalty, you only gonna be a number.

[Nero]

I started using a broker about 10 years ago. I told him I wanted to review all my coverages each year and get the best coverage for what I pay. So far he has switched my auto and home policies 3 times and my motorcycles three times. This guy is the polar opposite of the average insurance agent. Right now I am with Travelers for home and auto and Pacific Speciality for the bikes.

[shooter]

I use a broker also Nero. It gives me more options and seems to work.

[valkmc]

My credit union makes the calls for me. If my rate goes up for no reason I call the credit union and they do the shopping and guess what? Two years ago I had progressive and they raised my bike $200 or so for the year for no reason. I called the credit union and asked them to shop around. They got me a rate very close to what I was paying with out the increase. To my surprise it was with progressive. I took it and when I get the new policy it says customer since 2010. Very strange!!

[2bikemike]

I had the same broker for 12 years loyalty being that they had looked out for me on a few occasions and were what I thought to be fair priced until my daughter went on her own and got rates far below what I was paying. So when I took copies of my policies to her agent and they quoted 1100.00 less for better coverage it was a no brainer to switch. What I find interesting is that the same coverage through the same carrier on the bikes is 245 less a year. So YES I agree to shopping every so often. And I told my previous broker that I was shopping and then what my savings were they had ZERO interest in finding lower rates to keep me.

[wjduke]

To me, a broker is another middle man...doesn't sound cost effective. I never heard of using one until this thread. We have an abundance of agents here. A few phone calls work for me.

[F6Dave]

I pay $306 per year to insure 4 bikes with Allstate. I doubted anyone could beat that, but after reading this post I checked with State Farm anyway. They wanted $879! Now at least I confirmed I have a good rate.

[wjduke]

I pay $306 per year to insure 4 bikes with Allstate. I doubted anyone could beat that, but after reading this post I checked with State Farm anyway. They wanted $879! Now at least I confirmed I have a good rate.

:yes: Funny how that happens! 4 bikes at $306 a year for all 4? Do you own Allstate?

[F6Dave]

:yes: Funny how that happens! 4 bikes at $306 a year for all 4? Do you own Allstate?

If I owned Allstate I think I'd raise the rates. You can't make much money selling insurance at those prices!

Actually, I have a pretty low-risk profile. I getting a bit old and have a clean record. The bikes I own are an old BMW airhead, 2 Valkyries, and an F6B. I'm sure all of those have the kind of claims histories that insurance companies love.

[shooter]

I pay $306 per year to insure 4 bikes with Allstate. I doubted anyone could beat that, but after reading this post I checked with State Farm anyway. They wanted $879! Now at least I confirmed I have a good rate.

Dave , right now Allstate is THE place to insure a bike. Lots of riders switching in my area.

[VStarRider]

As for loyalty, I base it more on experience with the company following an event where you needed them to write a check, than time with the company.

I use Erie for cars, house, snowmobiles, boat and camp. When I had an issue a couple of years ago with one snowmobile, they took care of it quickly, painlessly, and it involved a big chunk of change on their part. They could've really screwed me around and been within their right to do so, but didn't. They bought my loyalty, so I haven't shopped around in awhile. My rates haven't gone up very much since I have had them as a carrier, so I doubt others would beat them by much.

I do use Progressive Direct for bike insurance. For the B and VStar 1100, both with high liability, full coverage, the total premium is $275/year. I live in upstate NY.

[wjduke]

As for loyalty, I base it more on experience with the company following an event where you needed them to write a check, than time with the company.

I use Erie for cars, house, snowmobiles, boat and camp. When I had an issue a couple of years ago with one snowmobile, they took care of it quickly, painlessly, and it involved a big chunk of change on their part. They could've really screwed me around and been within their right to do so, but didn't. They bought my loyalty, so I haven't shopped around in awhile. My rates haven't gone up very much since I have had them as a carrier, so I doubt others would beat them by much.

I do use Progressive Direct for bike insurance. For the B and VStar 1100, both with high liability, full coverage, the total premium is $275/year. I live in upstate NY.

Progressive seems to be the company for bikes...for the most part. I had them when I had my accident, and they paid out my bike in about 2 weeks. My problem here is the agent. Some gouge and others are fair...have to keep them honest.

[VStarRider]

Progressive seems to be the company for bikes...for the most part. I had them when I had my accident, and they paid out my bike in about 2 weeks. My problem here is the agent. Some gouge and others are fair...have to keep them honest.

Can't you go to Progressive and use their website to buy insurance? My agent from Erie also represents Progressive, but his price was higher than the online quote so he told me to go buy the policy directly from them. I followed that advice.

[wjduke]

Can't you go to Progressive and use their website to buy insurance? My agent from Erie also represents Progressive, but his price was higher than the online quote so he told me to go buy the policy directly from them. I followed that advice.

I'm not sure. My state might have restrictions on that, but, I haven't tried, to be honest. I know there are some companies that won't trade here because of state controls.

[choptop]

Have American Family for the bike and vehicles, pay about $360. yr. for bike. Went on line w/Progressive and tried to duplicate my coverage that I have now with American Family and Progressive quoted almost double.

[F6B1911]

I'm waiting for the implementation of Obamasurance, I hear it will include a bridge card.

[3Chief]

My VTX is on a old Farmers Policy, less than $300 a year...Farmers doesn't offer bike insurance anymore and new policies are sublet to Foremost which is stupidly expensive... The Connie and B are with State Farm. Could probably do better price wise on them but State Farm was quick and easy.

[wjduke]

Came home late last night to my mail box. Two things from my new insurance company about my car. One was a refund check for $21.00 for who knows what. The second envelope was a letter telling me that because of my driving record, they're reducing my policy amount from $574.00 for 6 months, to $342.00 for 6 months. As of right now, my motorcycle is costing me more for a full year full coverage than my car. It's finally paid off to be old!