Insurance?

[TX_Cruiser]

Picked up a Red 09 SM5 on Saturday. All I can say is WOW, THIS THING IS A BLAST! GEEZ LOUISE:2thumbs: :clap::yes:

I'm coming from an '05 GL1800 which I hated to part with but due to having 2 back fusion surgeries in the past two years, I started having issues with my balance and didn't feel 'safe' on the Wing any longer.

The Spyder is perfect for me. No balance problems w/3 wheels plus this puppy will flat out go! :firstplace:

I've had Progressive Insurance on all of my bikes since '97 and felt they were fairly reasonable. I had Full Coverage on the Wing for just under $400 per year: (Big Metro Area - Houston, TX area/Harris Co., 53 yo, No claims or Tickets - Clean Record, No Lean on the Spyder) Liabiliy $25k/$50k/$25k, Comprehensive, Collision, $3k accessory coverage, and Roadside Assistance.

Over all not 'too' terrible. I probably could have done better else where, but felt a sort of loyalty to Progressive since I've been with them for so long. Kind of like AMA. I've been with them so long, I finally last year sprung for a Life Membership. But I think my 'loyalty' has pretty much been price gouged out of me. I could be wrong... So I wanted to check wanted to check with those in the know - Current Spyder Owners.

They (Progressive) want $780 per year for the same Full Coverage on the Spyder. I almost messed my self when I got the quote. Surely that's High isn't it? :shocked: :hun: :cus: I was expecting either a little lower or maybe the same cost since engine size is quite a bit smaller, engine is governed to 110 MPH, 3 wheels, definitely safer in wet situations amoung others. New type of vehicle with few records of claims, cheaper vehicle etc.

Anyway, I would like to find out what other's insurance experiences are with the same type of coverage in a Large City/Metro area , 50+ years old, no claims, clean driving record?

Can I do better? Where should I start shopping?

Sorry for being so long....

Thanks - :spyder::spyder::spyder:

 

[ataDude]

I did the same thing... same bikes. Progressive was about $1000 per year for both bikes... Spyder and Valkyrie.

[email protected] got me Dairyland ... better coverage and deductables... for about 1/2 of Progressive's rates.

Web site with phone number: http://bikersins.com/

Tell him Jerry Chapman referred you and I might get a cup of coffee for free.

There's not a whole lot that can come from different rate comparisons here as premiums vary by zip code, experience, age, credit, etc.

welcome

Picked up a Red 09 SM5 on Saturday. All I can say is WOW, THIS THING IS A BLAST! GEEZ LOUISE:2thumbs: :clap::yes:

I'm coming from an '05 GL1800 which I hated to part with but due to having 2 back fusion surgeries in the past two years, I started having issues with my balance and didn't feel 'safe' on the Wing any longer.

The Spyder is perfect for me. No balance problems w/3 wheels plus this puppy will flat out go! :firstplace:

I've had Progressive Insurance on all of my bikes since '97 and felt they were fairly reasonable. I had Full Coverage on the Wing for just under $400 per year: (Big Metro Area - Houston, TX area/Harris Co., 53 yo, No claims or Tickets - Clean Record, No Lean on the Spyder) Liabiliy $25k/$50k/$25k, Comprehensive, Collision, $3k accessory coverage, and Roadside Assistance.

Over all not 'too' terrible. I probably could have done better else where, but felt a sort of loyalty to Progressive since I've been with them for so long. Kind of like AMA. I've been with them so long, I finally last year sprung for a Life Membership. But I think my 'loyalty' has pretty much been price gouged out of me. I could be wrong... So I wanted to check wanted to check with those in the know - Current Spyder Owners.

They (Progressive) want $780 per year for the same Full Coverage on the Spyder. I almost messed my self when I got the quote. Surely that's High isn't it? :shocked: :hun: :cus: I was expecting either a little lower or maybe the same cost since engine size is quite a bit smaller, engine is governed to 110 MPH, 3 wheels, definitely safer in wet situations amoung others. New type of vehicle with few records of claims, cheaper vehicle etc.

Anyway, I would like to find out what other's insurance experiences are with the same type of coverage in a Large City/Metro area , 50+ years old, no claims, clean driving record?

Can I do better? Where should I start shopping?

Sorry for being so long....

Thanks - :spyder::spyder::spyder:

 

[tnfleming]

Dont insure the bike. I got liability insurance only and pay $400 annually. Figure the bike value drops $1000 yearly at least. If you pay that much to insure it, you're losing $2000 annually. Why bother? In a minor collision your deductible screws you. In a serious collision what you need is medical insurance you'll never ride again! That's how i size it up. If bike is destroyed, fuggedaboutit and go on.

 

[ataDude]

I've got both bikes fully insured (100/300/100) with high limits and low deductibles for less than you're paying for liability alone.

That was my point on insurance rates. They vary all over the place.

Dont insure the bike. I got liability insurance only and pay $400 annually. Figure the bike value drops $1000 yearly at least. If you pay that much to insure it, you're losing $2000 annually. Why bother? In a minor collision your deductible screws you. In a serious collision what you need is medical insurance you'll never ride again! That's how i size it up. If bike is destroyed, fuggedaboutit and go on.

 

[TX_Cruiser]

Being Gouged?

I no longer have the GL1800. It was sold 12/28.
The :spyder: is my only ride...

 

[TX_Cruiser]

Dont insure the bike. I got liability insurance only and pay $400 annually.

If you are talking about the Wing, its GONE.

The Spyder HAS to be insured in in order to renew registration.

 

[Buelldog]

Check Foremost

I no longer have the GL1800. It was sold 12/28.
The :spyder: is my only ride...

I also go Liability only.......have max coverage on my Buell with Progressive @$114 per year and max coverage with Foremost on my Spyder for under $200 per year.I am 70,squeaky clean record, and live in rural , low density area.Check with Marc Fisher/ Foremost Rep @ 1-877-537-2555.Yes.....rates all over the board......Foremost was higher on my Buell than Progressive.......and Progressive was higher than Foremost on my Spyder!Tried to give both bikes to one company but no deal!Good Luck,keep trying.

 

[TX_Cruiser]

Just Did an Online Quot w/GEICO

For grins, I just went to the Geico site and did their online quote thingy

The exact same coverage at Geico that I now have at Progressive was quoted at $910 per yr. :shocked: :yikes:

Liability ONLY was $100 per yr.

 

[LDFIREWORKS]

statefarm with a very clean record and my house ins. is $90.00 amonth for 4 bikes:2thumbs:

 

[Questions]

Spyder Insurance In TN

Just got mine insurance from PROGRESSIVE for the 2008 Spyder Full coverage $465. per year. Yes I have the MSC. Twice as much as my Honda Goldwing ($208.00) that cost $20,000. Why more for such a safe vehicle. I am in Nashville, Tn. The Spyder is a safer bike.:spyder:
Wayne

 

[tnfleming]

I got on spyder lover's forum,
It seems there's a quorum,
Of folks sayin' i'm gettin' screwed.
Well my insurance ain't gettin' renewed.
Sorry my words lack decorum.

 

[brutus450]

I got mine insured for 428 a year with full comp and collision. It will go down 10percent when I take a safety course

 

[ataDude]

I got on spyder lover's forum,
It seems there's a quorum,
Of folks sayin' i'm gettin' screwed.
Well my insurance ain't gettin' renewed.
Sorry my words lack decorum.

That's funny, Doc! :2thumbs:

 

[LDFIREWORKS]

state farm the cheepest around

 

[Roaddog2]

I got on spyder lover's forum,
It seems there's a quorum,
Of folks sayin' i'm gettin' screwed.
Well my insurance ain't gettin' renewed.
Sorry my words lack decorum.

:clap::2thumbs:

 

[SSL4X4]

LDFIREWORKS is right. I am a STATE FARM AGENT. My Spyder costs me $45/month in Denver with no deductible on Comp and Collision. (No I do not get a special deal because I am an agent) My liability is 250/500/100 which is required for my umbrella. I also have 250/500 for uninsured motorists...if they hit me and do not have insurance...(in colorado 42% of the drivers on the road are uninsured!!) Progressive and Geico are notorious for quoting state minimums on auto/motorcycle insurance. Please buy higher liability people!!!....your family and your attornies will thank me if you get in an accident!! Besides the difference is maybe $50 a year!!!

Quote out State Farm in your state we are very competitive on bikes especially for someone in your age group and driving record!! Please let me know if you have more questions.

 

[aka1004]

i live in los angeles so i expect to pay more
first quote from progressive was 2100bucks
2nd one from insurance guy from dealer where i bought the spyder was 1150 still from progressive
i eventually got AAA 840 full coverage 500 ded. um

 

[bone crusher]

I got on spyder lover's forum,
It seems there's a quorum,
Of folks sayin' i'm gettin' screwed.
Well my insurance ain't gettin' renewed.
Sorry my words lack decorum.

Keep your day job...I understand that dealing with health insurance companies can make you a bit whacky....but, you're going to ride without insurance? Aren't you the one who wanted to put an infant on the spyder?

 

[bone crusher]

I had to get max rates for the Sypder as I have umbrella coverage...oh well...no option for me...but even so, I'm paying under $700/yr. with Geico with that max coverage...

If you take a class on motorcycle safety, most insurance companies will take 10% off each year...if this is your first bike, they will also drop about 10-15% after the first year (guess they figure if you live through your first year, your survival rates go up)...

Joy...

 

[bone crusher]

LDFIREWORKS is right. I am a STATE FARM AGENT. My Spyder costs me $45/month in Denver with no deductible on Comp and Collision. (No I do not get a special deal because I am an agent) My liability is 250/500/100 which is required for my umbrella. I also have 250/500 for uninsured motorists...if they hit me and do not have insurance...(in colorado 42% of the drivers on the road are uninsured!!) Progressive and Geico are notorious for quoting state minimums on auto/motorcycle insurance. Please buy higher liability people!!!....your family and your attornies will thank me if you get in an accident!! Besides the difference is maybe $50 a year!!!

Quote out State Farm in your state we are very competitive on bikes especially for someone in your age group and driving record!! Please let me know if you have more questions.

I agree with you in regards to increasing benefits...most people shrug this aside...go the cheap route...what a mistake!

I'll also comment (sorry) by saying that State Farm doesn't always take great care of their clients...remember, this is the company that got sued for have English majors review medical claims...and the list goes on...they have historically been involved in very questionable practices.

I apologize to you as I'm not inferring that you are not a great agent...I'm just not a fan of State Farm (many times regarded as Snake Farm and State Fraud in MD). I've had to deal with them on litigation issues with patients...Allstate, Progressive, and Geico tend to treat people better. Several years ago (2003) I saw their adjuster training videos...horrible and very offensive to those in vehicular crashes!

You're an agent and I realize in many parts State Farm can treat their clients great...the good thing about State Farm is that each office and location is unique...a personal touch is always nice. I don't wish to overly generalize and again, I'm sensitive to this being your job and your livelihood...however, in my experience (which happens to be a lot), I know a lot of people who no longer have State Farm insurance. I'm not lumping their renter/home owner insurance into this discussion...they are quite good...

I do not want to start a back and forth on this topic...I just wanted to comment that I've had a lot of experience on the 'other side' of insurance claims...you won't know how good your insurance company is until you need them...if they're not there for you, you'll develop negative sentiments about them very quickly.

I like Geico as anything Warren Buffett owns is good enough for me!

Enough said...