Paying to much for Insurance?

[Spyder#353]

Check this out. This is my insurance co. I insured my 78 Vette for an agreed price $50,000.00, My 08 Spyder for $25.000.00 and my 97 Harley for $10,000.00. All carry full coverage no mileage limits. I did have to sign agreement station. Vehicles would be stored in a locked garage or warehouse and no one under the age of 25 will ride or drive them. Also had to send pictures of each vehicles w/ VIN # and Tag #
OK, with said. Are you sitting down. $500.00 a YEAR. Now nobody ever answers my questions on this forum. Now, lets see how many want to know the name of my insurance company....

[Some Guy]

State Farm here in Michigan is $850 a year. Felt bad about that until I got other quotes. Progressive wanted $2,300 and then I talked to them a bit more and the guy said he made some mistake and that it would 'only' be $1,600 a year. I told him that was about twice what I was paying.

The lizard doesn't sell MC insurance in MI, so they are not possible.

I know many that had Foremost for some crazy cheap prices but then it jumped up over $1,000 the second year.

Being a no-fault state we pay much more in MI, but there are some advantages such as lifetime healthcare for any injury sustained in an accident.

Check Victoria Insurance - I pay $449 with a $250 deductible and it comes with $3,000 of "accessory" coverage (windshields, seats, etc...).

[Firefly]

I was the first to have AMFAM Insure a Spyder so they had to have their research department do a risk assessment on the spyders estimate risk factor is how my agent explained it to me. That is why I did not receive a bill for 60 day after insuring the spyder. Then after they decided on a price they determined that was to much I guess because back came a check for $56.00 with a letter stating the same thing I read from them before that from time to time they determine you vehicle is rated at a lower risk than previously determined. They did the same thing with my 1989 Turbo Trans AM after they determine because it was a v6 engine it should be less dangerous. SHHHH 89 TTA were the fastest 0-100MPH of all the Trans produced. Now I am 35 so that is water under bridge.


What is the deal with your insurance companies guys. You need to stand up for yourself. Maybe BRP needs to step in, and have a meet, and greet with insurance companies to comfort them that this is a safe product so the confidence level on safety is know. Heck this would help in sales also if they were able to lower the insurance for their product. I know Ford did this with the Mustang a few years back to help sales.

This bike should be in the ratings of a Harley Davidson to insurance companies, and not a Ninja ZX14 level. We my all think the spyder is a lion but it is a mere house cat.

I would expect a major increase on your Spyder policy after the first year. They sound like they are pretty clueless as ANY vehicle with Turbo is more expensive to insure. Take the deal while you can get it - but don't be shocked when they suddenly increase it by 4X. This is what Foremost has done with many.

One difficulty is that they do not know how to classify the Spyder. Many companies group it in with the 'sport bikes' aka - crotch rockets by default - which is really unfair.

I'm happy with $850 a year. For those that have AAA insurance on their bike - please do some research about AAA and their anti-motorcycle agenda. They lobby big time against MC's and our rights!

[Dragonrider]

I will never complain about my insurance again...

I have a 2006 BMW K12LT & 2009 SM5 - both fully covered for $417 per year.

My three cars are $1460 per year..... I guess it's a matter of perspective!!

[Burt]

I have progressive and my renewel actually went down from my first year. I pay like 400 something a year

Allied - $262/yr. $500,000 Liab and UI UM. 500 Deductibles.

[nater1]

Ok Steve lets hear it.welcome

[Spyder#353]

The Ins. Co. is Grundy Worldwide. They use to be only old collectables cars. Now they Insure anything of value. The number is 1-800-338-4005 call and ask for an application.

[orangespydiegirl]

ZZ, we pay $734. a year for both spyders with progessive, $100,000 each accident each person $100,000 uninsured bodily injury, $25,000 property damage $1000 ded collision plus $3000 accessory coverage with road side assistance. Premium discounts incluse multi-policy vechile and responsible driver. We have all our toys insured with them. Our policies are written with Clay and Land here in memphis if you want to check it out.

[BAZMAN]

as far as i can tell no ONE has checked BIKELINE, i have my spyder and my vtx1300 insured with them (no medical) plus towing. for less
than $500.00 a year. i tried progressive 1st. and they wanted $1100.00 a year.
and that was just for the spyder. it pays to shop around. also both of my
bikes are garage kept, cars outside. i live in RIO RANCHO, NM

[mjw930]

I have Allstate and pay $271.41 / year for 100000/300000/100000 liability and 500/250 deductible collision/comprehensive but no UI/UM (stacked UI/UM on my 3 cars and in FL that carries over to all other situations). UI/UM in FL will triple the costs.

2 things to check.

1. Make sure they rate it as a Sport Touring bike and not a Sport Bike or a Trike. My agent changed the class and the rate was cut my more than half and underwriting accepted it but their default is still Sport Bike, AKA a 1 liter race replica.

2. Give the guys at Fisher Insurance a call. They did exactly what I did and fought with their primary carriers to get Spyders rated properly. Their quote was within $20 of what I pay but I have 2 other bikes with Allstate so it wasn't worth the switch. http://www.bikersins.com/spyder_ryders.html

[NancysToy]

I have Allstate and pay $271.41 / year for 100000/300000/100000 liability and 500/250 deductible collision/comprehensive but no UI/UM (stacked UI/UM on my 3 cars and in FL that carries over to all other situations). UI/UM in FL will triple the costs.

2 things to check.

1. Make sure they rate it as a Sport Touring bike and not a Sport Bike or a Trike. My agent changed the class and the rate was cut my more than half and underwriting accepted it but their default is still Sport Bike, AKA a 1 liter race replica.

2. Give the guys at Fisher Insurance a call. They did exactly what I did and fought with their primary carriers to get Spyders rated properly. Their quote was within $20 of what I pay but I have 2 other bikes with Allstate so it wasn't worth the switch. http://www.bikersins.com/spyder_ryders.html

That's exactly what I have found. Progressive readily accepted the "sport touring" rating I gave, especially with BRP advertising/specs to back it up. They did not change it upon renewal. Others I know did not tell their agents that it was a sport touring, and it defaulted to "sport bike", tripling their premiums.
-Scotty

[timpani]

Hello ZZNEONZZ, I live in Collierville and pay $350 a year with Farm Bureau. They have always been able to provide me with the best rates.

[tweeder]

I have Allstate and pay $271.41 / year for 100000/300000/100000 liability and 500/250 deductible collision/comprehensive but no UI/UM (stacked UI/UM on my 3 cars and in FL that carries over to all other situations). UI/UM in FL will triple the costs.

2 things to check.

1. Make sure they rate it as a Sport Touring bike and not a Sport Bike or a Trike. My agent changed the class and the rate was cut my more than half and underwriting accepted it but their default is still Sport Bike, AKA a 1 liter race replica.

2. Give the guys at Fisher Insurance a call. They did exactly what I did and fought with their primary carriers to get Spyders rated properly. Their quote was within $20 of what I pay but I have 2 other bikes with Allstate so it wasn't worth the switch. http://www.bikersins.com/spyder_ryders.html

But it is a trike, just because the agent changed the classification doesn't mean he's right. You might have a problem with the insurance provider when it comes time to claim as its not what is says it is.

[retired cav scout]

Greetings all

I have insurance through Geico and I pay $111.00 a month, I just checked with Progressive and they want $137.00 a month. I live in WA state, can anyone in the area make a suggestion? Is there some reason The nSpyder is so much more than a two wheeler?

[zzneonzz]

Greetings all

I have insurance through Geico and I pay $111.00 a month, I just checked with Progressive and they want $137.00 a month. I live in WA state, can anyone in the area make a suggestion? Is there some reason The nSpyder is so much more than a two wheeler?

The reason I kept getting was that it was so new the safety ratings haven't been issued for the vehicle yet so till that happens they have it sky high. Another reason they give is its classified as a sport bike and not a sport touring. Some folks have had luck with getting the insurance companies with getting them to reclasify it however all of the ones i have spoken to will not do it and i have talked to all of them in my area.

[Motza]

They only insure farming equipment and motorcycles....
MOOW

[timpani]

Hey ZZNEONZZ, I can hook you up with my agent. We live in the same metro area. We are just one suburb away from each other. As I said earlier, I only pay $350 an year. Granted I have all of my insurance through them but I am sure you could still get a pretty good deal.

[nyfdtsdemt]

422 yr full coverage