Insurance Rates

[CSX4350]

I got rid of my ZX14 to get my RT-S, and finally got my insurance bill yesterday. I have State Farm, a perfect driving record (except for the crash where my Spyder got totalled last year, not my fault) and perfect credit.

HOLY COW!!! State Farm is charging me way more for the Spyder than they did for my ZX14! The total premium for the RT-S is $988/6 months! I carry full coverage with $500,000 CSL, Uninsured/Underinsured, $250 deductable, I do have a lot of insurance. That being said my 2007 GoldWing ran me $400/6 months, my B-King is $375/6 months, all for the exact same coverage as the Spyder. Even my last Spyder was dramatically less expensive to insure than this one, same policy same agent. I have checked with several other companies and for the same coverage found similar rates, what is the deal with insurance on this thing???

 

[Justin]

I got rid of my ZX14 to get my RT-S, and finally got my insurance bill yesterday. I have State Farm, a perfect driving record (except for the crash where my Spyder got totalled last year, not my fault) and perfect credit.

HOLY COW!!! State Farm is charging me way more for the Spyder than they did for my ZX14! The total premium for the RT-S is $988/6 months! I carry full coverage with $500,000 CSL, Uninsured/Underinsured, $250 deductable, I do have a lot of insurance. That being said my 2007 GoldWing ran me $400/6 months, my B-King is $375/6 months, all for the exact same coverage as the Spyder. Even my last Spyder was dramatically less expensive to insure than this one, same policy same agent. I have checked with several other companies and for the same coverage found similar rates, what is the deal with insurance on this thing???

Something is wrong there. We have retarded insurance prices in Ontario Canada and the RTS is at $1277.00 per year as a new rider. That's with 2 million liability, fire, theft, collision and 500.00 deductibles. A ZX14 with a new rider would be around $9000.00

Make sure they`re not thinking it`s something European. When we got our insurance, the Broker coming up with something that was in Europe that was around $120000.00.

 

[punji]

Hmmmm, sumpin' ain't right

I'm looking at my 2010 policy from State Farm. Premium is $204.33 for 6 months for a new RT Audio/Convenience. Trailer is also covered. It's a standard 25,000/50,000 policy with $500 deductibles for comprehensive and collision. We have multi-line discount for autos and homeowners, but it can't equal the difference between your policy and ours. I live several miles west of St. Augustine in a ZIP Code that is probably classifed as rural and neither of us has ever filed a claim against a policy in 30 years. But still... There are a lot of variables in insurance prices, so it's hard to imagine what is going on. Age perhaps? I'm 63, wife is 58. Hate to be a skeptic, but perhaps your agent deserves closer supervision??? If you PM me, I'll give you the name of my Tampa agent and his number....BTW, unlike the auto policies, the Spyder policy does not include towing. A quick call to AAA solved that problem for $35.00 for the year. Up to 4 tows of 100 miles + the usual fuel/battery stuff....

Regards ----

 

[qasamm]

Hunt down Marc Fischer. He specializes in spyder insurance and understands the vehicle. His rates were 1/3 of the best quote I received anywhere else for full coverage.

 

[CSX4350]

I forgot to add that I'm 49 and have been riding since 1978...

Progressive wanted $2700 a year, and Dairyland $1900 for the same coverage. I have to carry at least $500,000 liability because I have an umbrella policy that requires that.

I figured it had to be a mistake so I had my agent call State Farm and talk to an underwriter, they said that due to the engine size it is classified as a sport bike. They told her that to be classified as a touring bike it has to have an engine of over 1000 cc's. Even if it was a sportbike it still makes no sense that they are charging me more than they did for my ZX14.

 

[dave711]

ditto.... Mark Fischer got Formost at 500 a YEAR on my RT..

 

[dadof4]

Esurance

Esurance - Collision & Liability ~ $250/yr.

 

[scudrunner]

Insurance rates from state to state and county to county are different. When I got my Spyder, I went with Progressive. The day after I bought it, changed to Foremost at half the price for more coverage. I don't think you can buy out of state for insurance unless the agent is licensed in Texas.
Give David Sottilare a call at 281-882-8383. He is in the Woodlands, an independent agent who works with Foremost. I'm pretty sure he can get you a better rate.

 

[MouthPiece]

Again, we might be falling prey to comparing oranges to oranges and oranges to apples. There's a lot of variables that go into the price.
I for one pay somewhere close to $600.00 per year for my RT-S with State Farm. However, I have my car, my wife's car and my home which are in the policy.

Originally the agent quoted me around $1,000.00 per year, but when looking into it deeper, he talked about something called "stacking". Apparently it made a big difference as to the rate for my RT-S.

You might mentioned that term "stacking" to your agent and see if this makes any differnce. Hope this helps for ya.

Chris PE# 0004

 

[ataDude]

Hunt down Marc Fischer...

http://bikersins.com

I used him on the Spyder and now on the Thunderbird and Valkyrie.

 

[TicketBait]

I have AAA and it was $632 per yr the first year, I told them I would ryde under 5000 miles for the year. With 250K/500K/250K liability & prop damage limits.
comp 100 deductible
coll 1000 deductible

now that i am gonna be riding more it will increase about $ 200 for each mileage jump

Mileage categories are
2501-5000
5001-7500
7501-10000
10001-15000 annual miles
and so on.

each category increases my premium approx $200, so my renewal will be mailed out shortly and I am expecting to pay $1032 per year

I have no accidents or moving violations.

and this one I got in Texas in August 2005 is off my record now

 

[canam9]

Can it be the price of the RT-S is twice that of the ZX-14? I dont know the price of the Gold wing.:ani29:

 

[punji]

Stacking is the way to go

If you have multiple vehicles with State Farm, stacking the policies together drives up the premium on one of them -- but only slightly. Stacking combines the coverage for uninsured motorist or PIP protection under one policy. Stacking drives down the cost of premiums for the other two vehicles. My original Spyder quote was higher than what I related (I can't recall how much) but stacking all vehicles brought it into reasonable territory.

Readjusted the limits on my homeowners the same day since State Farm was kind enough to double my premium because of hurricanes that haven't hit the state....:banghead:

 

[Recon]

Try AARP and Foremost if you are over 50

 

[IWN2RYD]

As already stated... We cannot even compare rates from one zip code to another. The insurance companies themselves cannot "Quote" us without a lot of knowledge about us, the zip, Credit, Driving record, and the losses they as an individual company has had to pay in each zip/area.

Not to mention.... The coverages and deductible(s) that we choose along with the Bikes value ranging from $6000 to $30,000 has a bit to do with it as well.

The info that is VERY helpful though is the different companies that are around for us to try. I just requested a quote from Fischer.. so we will see. :thumbup::spyder2:

 

[CSX4350]

Nice Z06! You must have been pretty ballistic to have License & Weight write you a ticket. They normally don't mess with non-commercial vehicles.

Lots of great points in this thread, and I agree that the rate one person in one area gets is in no way representative of what someone else will get. But when I have 9 cars (none of my classic cars though), 3 bikes and my homeowners through State Farm and they are so radically higher on the Spyder than they were on a GL1800 there is something really wrong with the way the RT is rated. To make it even worse, I saw that they had carried the value over on the RT from what my original Phantom was rated at, $16,500.

I am going to check with a few of the listed agents tomorrow and see if anyone can save me some money. Then again my annual insurance bill is staggering, in the grand scheme of things this isn't a huge deal.

 

[TicketBait]

Nice Z06! You must have been pretty ballistic to have License & Weight write you a ticket. They normally don't mess with non-commercial vehicles.

.

They were being funded by a federal grant that required the officer to use his radar to catch speeders.

He said he normaly didn't do this. I was going 82, and had had the Zo6 2 days, I got another ticket in

CA. 6 days later for 80 mph, The CHP wouldn't let me take a photo like the THP . No more speeding

tickets since, I take it to the track and got Valentine 1 radar

I sold the Z for the RT, as the spyder is way more fun. And my insurance is 3 times less:clap:

 

[fencepost]

We have Geico @ $444.00 for the RT AC. I was told that the Spyder is classified as a sports bike and that they have different levels of sport bike classification for insurance rates.

 

[CSX4350]

I've been out of town for a few weeks, but got back and got to work on finding some new insurance for the Spyder.

Mark got me with Formost and saved me almost 50%. Not as low as I would have hoped, but I think the crash last year where I totalled out the Spyder is really working against me, even though it wasn't my fault. But at least he did save me good money, and told me he can get me 35% off for insuring three bikes. I'll let him quote the other two in a couple of weeks when I register my vMax. I still have get the engine put back in after putting 8.5/1 blower pistons in it.

ditto.... Mark Fischer got Formost at 500 a YEAR on my RT..

 

[zeebill]

There are so many variables in the way insurance companies figure rates and coverages it would drive a sane man crazy. State to state, location in the state, age, previous accidents (although they will not admit to it and by the way they care not whose fault it is they only know it was a claim or incident), stacked policies, year pf insured vehicles, mileage, cc's of vehicle, number of wheels it has, and it is endless but I am sure you get the idea.

I get about $70 a month rate for the trike from State Farm and believe me they could care less if you leave them because they know if you go somewhere else the other company will pick up the claim and red flag you for a higher rate. So it would seem that luck has a lot to do with what one has to pay for necessay things in life in yet another area! Not really fair but part of life I am afraid. Bill :gaah: