Wow. HUGE insurance savings. Am I reading this right?

CZroe · July 30th, 2011, 02:56 AM

I got Progressive back in 2008 when I got the bike. I don't have health insurance and I have no backup transportation, so I made sure to "over insure" myself. I don't want to have the bike stolen from a motel while I'm half way on my first or my next coast-to-coast trip. I could hit a wall and I'm covered, assuming I survive.

Anyway, I could only afford monthly payments, which was about $50 a month for the last three years. It went from slightly under $50 to almost exacty $50 to about $51 over that same period despite mounting experience, no infractions, no claims, etc. Anyway, it's time to renew again and I got a letter in the mail basically saying that my safe driving for the last few years qualifies me for a measley price drop of a dollar or two a month, which doesn't even put me back where I started.

I was angry so I called up the insurance office that sold me the Progressive policy and asked to renegotiate it. Instead, they offered a completely different policy with Foremost (a division of Farmers), insisting that they were "usually much cheaper." When I got this in my email, they insisted that it was apples-to-apples except that I got IMPROVED terms (lower deductible, higher coverage, etc). A quick glance shows that they are right, but the price is just too much cheaper to be believed. Seriously? Foremost's $225 a year with more coverage vs. Progressive's $484 a year with less coverage? Am I missing something?! There has got to be a catch.

Does anyone have any experience with them? How do they fare when it comes time to make a claim? Is their price normal and I was just getting ripped by Progressive?

planet-beaver · July 30th, 2011, 05:16 AM

No you didn't miss anything. I had Progressive for everything including my bikes and one day I stooped at Nationwide to get a quote. It was 40% of what I was paying with exactly same coverage. They were about the same on my cages so I still have progressive for those but bikes are on Nationwide now for three years and no increases.

Bosgarage57 · July 30th, 2011, 05:35 AM

I've been with progressive for 6 years now for all my bikes. Doesnt matter what bike it is, my 250, my Concours, a 1500 crusier, or my Rhino sxs, every single 1 is about $30/mo. Thats 500 deductible and 100/300/50. I'm pretty happy with them.

caps · July 30th, 2011, 06:13 AM

Quote:

Originally Posted by Bosgarage57

I've been with progressive for 6 years now for all my bikes. Doesnt matter what bike it is, my 250, my Concours, a 1500 crusier, or my Rhino sxs, every single 1 is about $30/mo. Thats 500 deductible and 100/300/50. I'm pretty happy with them.

I got a quote similar to that a few months ago, then I filled out another one last night and it was $1225/yr

Live2ride · July 30th, 2011, 06:18 AM

I just sent my info in; waiting for my quote to show up in my inbox.

JLinde1339 · July 30th, 2011, 06:31 AM

I've been insured thru Nationwide (same agent) for every policy I've ever held. Right now on my auto, I pay 132/month. I have a loan on it, so full coverage. I don't know what the breakdown of the policy is, that stuff makes my head spin. When my agent starts talking details in Insurancese, my eyes just glaze over. I have one speeding ticket, and one accident, where it was no-fault. I had no idea what to expect when getting quotes for a bike, but i called them and gave em the VIN, and they said $11/mo minimal, for full it would have been $19. I almost choked on my coffee. I was expecting to pay waaaaay more.

taikahn · July 30th, 2011, 06:34 AM

Im paying $120 a year for full coverage at American Family insurance. I'm married, a home owner and I live in Colorado.

Gurk · July 30th, 2011, 06:54 AM

Hmm. This thread made me check them out. But I guess it's a bit more expensive for California and me.
I got the absolute minimum policy I'm required in CA which is WWWWAYY less coverege than you have right there and I got quoted $891 per year. I might still go for it though. I have a feeling it's cheaper than what i'd get from other places.

It probably makes a world difference in their quote that I JUST got my licence doesn't it?

EsrTek · July 30th, 2011, 07:34 AM

From what I found, I'd pay the slightly higher premiums to have a good named Ins comp behind me. I found the cheaper mo payment places do NOT pay out if a claim and if they do pay it, they will most likely drop you for it.

I have Nationwide for both my van and car, but due to a screw up w/ computer system (read that as, the Nationwide employee typo'd my app and got it rejected), I just dropped them and went w/ Allstate last night in fact.
My payments stayed about same on both, but I got better coverage and only a $100 deduct on both policies and now I have uninsured coverage on my bike.

planet-beaver · July 30th, 2011, 08:42 AM

My Nationwide is $112 for 100/300 liability only for both bikes (not each). Also have the uninsured for $50,000

Got 2005 Ninja 250 and 2005 Vulcan 500. I ride both, weekdays the ninja, weekend the vulcan. Ride about 11000 miles.

almost40 · July 30th, 2011, 09:25 AM

I would only use 1 of 2 companys
State Farm or Country Companys.

Both will settle your homeowners claim without a fight of any kind. Thats important to me.

Years ago when I ran a small construction company, there was a tornado and a hail storm that blew thru my area. When I was called for a estimate to repair the damage my first question was.....Who is your insurance company?
If you didnt say one of the 2 above. I would politely tell the homeowner I was too busy. This was not a lie as I was so buried. I hired a second crew.
Both State Farm and Country Companys would take my "word" on unseen damage and cut a check that day. No hassle, no fuss. It was quite refreshing. All of the other so called BIG insurance companys thought I had the time to debate the adjustor over the damage and price. Not fair to me, and for sure not fair to the HOMEOWNER / policyholder.

For the people who's house was destroyed they had a check in hand within 4 hours of the phone call to the agent. Nice way to keep your policyholders.
I havent made an auto claim in years but my home is my biggest investment and IF i need to make a claim Im not interested in debating and adjustor who has no IDEA what he/she is talking about.
I had an allstate adjustor TELL me how to do my job, how much to charge, and waste 3 hours of my workday. I asked what his experience in the field was. He replied "allstate sent us to a class." Needless to say this is when I started asking homeowners "Whos your insurance co?"

I have had State Farm for years now.
I paid $141 for the whole year on the 250
Full coverage $250 deductable.

Linuss · July 30th, 2011, 09:39 AM

When I was first getting my bike I looked at all the major companies, all wanting $1000+ for a year... for a Ninja 250.

Looked at Progressive, and I was able to get full coverage of everything for $300 a year. I'm sticking with Progressive and moving my car insurance over to them (for more than half the savings for more coverage)

SpeedDemon · July 30th, 2011, 10:00 AM

You guys have it easy down in the US. I pay 1900 a month for my 250

... When i was looking at upgrading to a 2008 honda cbr 6RR they wanted 15,000 for basic coverage

...Like seriously how do u even justify that much when in canada we only can ride for like 5 months TOPPSS...just some food for thought when you guys think u r getting bent over

b31den · July 30th, 2011, 10:59 AM

Quote:

Originally Posted by SpeedDemon

You guys have it easy down in the US. I pay 1900 a month for my 250

... When i was looking at upgrading to a 2008 honda cbr 6RR they wanted 15,000 for basic coverage

...Like seriously how do u even justify that much when in canada we only can ride for like 5 months TOPPSS...just some food for thought when you guys think u r getting bent over

Thats crazy. I pay $11/month for my 07 zzr250. Im male, 25, from Alberta. You need to shop around. Youre a sucker if youre actually paying that much.

SpeedDemon · July 30th, 2011, 11:06 AM

Quote:

Originally Posted by b31den

Thats crazy. I pay $11/month for my 07 zzr250. Im male, 25, from Alberta. You need to shop around. Youre a sucker if youre actually paying that much.

Im 22 on the 09 250, I actually called my broker after reading all this and she told me its because of the area i live in and there are a lot of claims....That is the CHEAPEST quote i got on the 250 others wanted anywhere from ~2500-4000. Im told it has a lot to do with me being under the 25 year old marker so i guess i just gotta suck it up for right now if i want to ride

00NissanNinja · July 30th, 2011, 12:33 PM

Progressive is a big rip off. They wanted me to pay 1500 a year (full coverage) for my bike. That's like paying for my bike every two years. My record is clean and this is CO, its not like I am going to be riding all year.

Albach · July 30th, 2011, 07:13 PM

Quote:

Originally Posted by almost40

I would only use 1 of 2 companys
State Farm or Country Companys.

Both will settle your homeowners claim without a fight of any kind. Thats important to me.

Years ago when I ran a small construction company, there was a tornado and a hail storm that blew thru my area. When I was called for a estimate to repair the damage my first question was.....Who is your insurance company?
If you didnt say one of the 2 above. I would politely tell the homeowner I was too busy. This was not a lie as I was so buried. I hired a second crew.
Both State Farm and Country Companys would take my "word" on unseen damage and cut a check that day. No hassle, no fuss. It was quite refreshing. All of the other so called BIG insurance companys thought I had the time to debate the adjustor over the damage and price. Not fair to me, and for sure not fair to the HOMEOWNER / policyholder.

For the people who's house was destroyed they had a check in hand within 4 hours of the phone call to the agent. Nice way to keep your policyholders.
I havent made an auto claim in years but my home is my biggest investment and IF i need to make a claim Im not interested in debating and adjustor who has no IDEA what he/she is talking about.
I had an allstate adjustor TELL me how to do my job, how much to charge, and waste 3 hours of my workday. I asked what his experience in the field was. He replied "allstate sent us to a class." Needless to say this is when I started asking homeowners "Whos your insurance co?"

I have had State Farm for years now.
I paid $141 for the whole year on the 250
Full coverage $250 deductable.

Be careful with the generalizations here. Hurricane Ivan tore our roof off and because of a 8 inch storm surge, they would not touch anything below 5 feet. Ended up with an SBA loan. Is was my parents house.

On topic. I switch to farmers 8 or 9 months ago, been very happy.

Moto quote is 348$/year with medical. Not sure on break downs. That was before MSF or endorsement. Waiting for updated quote with those 2 discounts.
22 year old male.

almost40 · July 30th, 2011, 07:34 PM

Quote:

Originally Posted by Albach

Be careful with the generalizations here. Hurricane Ivan tore our roof off and because of a 8 inch storm surge, they would not touch anything below 5 feet. Ended up with an SBA loan. Is was my parents house.

On topic. I switch to farmers 8 or 9 months ago, been very happy.

Moto quote is 348$/year with medical. Not sure on break downs. That was before MSF or endorsement. Waiting for updated quote with those 2 discounts.
22 year old male.

Im guessing they didnt have a flood insurance policy. BUMMER. But it is a separate policy from your homeowners.
Not a concern here in my area unless you live ON the river.

zilaniz · July 30th, 2011, 07:47 PM

I have riders insurance. They only do motorcycles but they are only in a few states on the east coast. They are drastically cheaper than any other insurance quote I got.

ducducgooseit · July 30th, 2011, 09:20 PM

Quote:

Originally Posted by SpeedDemon

You guys have it easy down in the US. I pay 1900 a month for my 250

... When i was looking at upgrading to a 2008 honda cbr 6RR they wanted 15,000 for basic coverage

...Like seriously how do u even justify that much when in canada we only can ride for like 5 months TOPPSS...just some food for thought when you guys think u r getting bent over

Hang on. Did I read right?

You pay $22800 CAD a year to insure a motorcycle worth ~$5000CAD. REALLY?

b31den · July 31st, 2011, 08:35 AM

Quote:

Originally Posted by SpeedDemon

Im 22 on the 09 250, I actually called my broker after reading all this and she told me its because of the area i live in and there are a lot of claims....That is the CHEAPEST quote i got on the 250 others wanted anywhere from ~2500-4000. Im told it has a lot to do with me being under the 25 year old marker so i guess i just gotta suck it up for right now if i want to ride

I switched from TD to Desjardins when I was 23 for car insurance. Same coverage, dropped from $1400 to $550. So far my rate hasnt really changed since turning 25, so I wouldnt be surprised if for motorcycles under 25 theyre really good too. However, Ive also never gotten any traffic tickets or had an accident. *knock on wood*

Try giving Desjardins Direct a call for a quote.

Good luck, maybe your broker likes getting the bigger cut of high premiums too much.

sarapacman99 · July 31st, 2011, 09:19 AM

Quote:

Originally Posted by 00NissanNinja

Progressive is a big rip off. They wanted me to pay 1500 a year (full coverage) for my bike. That's like paying for my bike every two years. My record is clean and this is CO, its not like I am going to be riding all year.

I paid $1,567 for a year coz i'm 23 and progressive hates vets. I'm going to try other companies after my policy runs out.

sombo · July 31st, 2011, 09:25 AM

Just so you all know each company bases it's prices for each area on it's history with the area. If you live in an area, and drive a class of vehicle that they have had to pay more claims on, your prices will be higher. This is standard practice. I found this out from the insurance companies (it was Progressive that told me this actually). So you could be with the same company for years, move to a new location and have a drastic change in price just because of the location having many more claims to THAT company. It sucks, but it is what it is. All you can do is shop around for the best price for you location and situation.

July 30th, 2011, 06:18 AM	#5
Live2ride ninjette.org certified postwhore Name: Cody Location: NoVa Join Date: Jan 2011 Motorcycle(s): 06 yzf r6r previously: 09 ninja 250r, black 07 zx6r Posts: A lot.	I just sent my info in; waiting for my quote to show up in my inbox. __________________________________________________

July 30th, 2011, 09:25 AM	#11
almost40 ninjette.org Monkey Spank Name: Kevin Location: Illinois Join Date: Apr 2009 Motorcycle(s): 2008 250R Track-Bike Woodcraft clip-ons and rearsets FZ-6 track bike Posts: A lot.	I would only use 1 of 2 companys State Farm or Country Companys. Both will settle your homeowners claim without a fight of any kind. Thats important to me. Years ago when I ran a small construction company, there was a tornado and a hail storm that blew thru my area. When I was called for a estimate to repair the damage my first question was.....Who is your insurance company? If you didnt say one of the 2 above. I would politely tell the homeowner I was too busy. This was not a lie as I was so buried. I hired a second crew. Both State Farm and Country Companys would take my "word" on unseen damage and cut a check that day. No hassle, no fuss. It was quite refreshing. All of the other so called BIG insurance companys thought I had the time to debate the adjustor over the damage and price. Not fair to me, and for sure not fair to the HOMEOWNER / policyholder. For the people who's house was destroyed they had a check in hand within 4 hours of the phone call to the agent. Nice way to keep your policyholders. I havent made an auto claim in years but my home is my biggest investment and IF i need to make a claim Im not interested in debating and adjustor who has no IDEA what he/she is talking about. I had an allstate adjustor TELL me how to do my job, how much to charge, and waste 3 hours of my workday. I asked what his experience in the field was. He replied "allstate sent us to a class." Needless to say this is when I started asking homeowners "Whos your insurance co?" I have had State Farm for years now. I paid $141 for the whole year on the 250 Full coverage $250 deductable. __________________________________________________ Black 250R Full Area P QC Dyno Jet Kit 100 main 41T Rear Sprocket

July 30th, 2011, 10:00 AM	#13
SpeedDemon ninjette.org member Name: Jon Location: Brampton Join Date: Jun 2011 Motorcycle(s): 2009 Ninja 250 Posts: 190	You guys have it easy down in the US. I pay 1900 a month for my 250 ... When i was looking at upgrading to a 2008 honda cbr 6RR they wanted 15,000 for basic coverage ...Like seriously how do u even justify that much when in canada we only can ride for like 5 months TOPPSS...just some food for thought when you guys think u r getting bent over __________________________________________________ Never ride faster than your guardian angel can fly

July 30th, 2011, 12:33 PM	#16
00NissanNinja I hate driving... Name: S Location: SW Ohio Join Date: Jul 2010 Motorcycle(s): 13 Triumph Street Triple R, 09 Ninja 250r (Sold 4/20/12) Posts: A lot.	Progressive is a big rip off. They wanted me to pay 1500 a year (full coverage) for my bike. That's like paying for my bike every two years. My record is clean and this is CO, its not like I am going to be riding all year. __________________________________________________ 09 ninja 2fiddy SE Driving slow things fast

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July 30th, 2011, 05:16 AM	#2
planet-beaver ninjette.org member Name: Chris Location: Pike County, PA Join Date: Jul 2011 Motorcycle(s): Ninja 250, Vulcan 500 Posts: 50	No you didn't miss anything. I had Progressive for everything including my bikes and one day I stooped at Nationwide to get a quote. It was 40% of what I was paying with exactly same coverage. They were about the same on my cages so I still have progressive for those but bikes are on Nationwide now for three years and no increases.

July 30th, 2011, 05:35 AM	#3
Bosgarage57 ninjette.org sage Name: Luke Location: Sevierville, TN Join Date: May 2011 Motorcycle(s): 06 Buell Uly, 05 VStar 1100 Posts: 577	I've been with progressive for 6 years now for all my bikes. Doesnt matter what bike it is, my 250, my Concours, a 1500 crusier, or my Rhino sxs, every single 1 is about $30/mo. Thats 500 deductible and 100/300/50. I'm pretty happy with them.

July 30th, 2011, 06:31 AM	#6
JLinde1339 Fighterer in Training Name: Joshua Location: Schenectady, NY Join Date: Jul 2011 Motorcycle(s): 2001 Ninja 250R Posts: 316	I've been insured thru Nationwide (same agent) for every policy I've ever held. Right now on my auto, I pay 132/month. I have a loan on it, so full coverage. I don't know what the breakdown of the policy is, that stuff makes my head spin. When my agent starts talking details in Insurancese, my eyes just glaze over. I have one speeding ticket, and one accident, where it was no-fault. I had no idea what to expect when getting quotes for a bike, but i called them and gave em the VIN, and they said $11/mo minimal, for full it would have been $19. I almost choked on my coffee. I was expecting to pay waaaaay more.

July 30th, 2011, 06:34 AM	#7
taikahn ninjette.org member Name: Tai Location: Englewood Join Date: Jun 2011 Motorcycle(s): 2011 Ninja, 71 Honda Cafe Posts: 41	Im paying $120 a year for full coverage at American Family insurance. I'm married, a home owner and I live in Colorado.

July 30th, 2011, 06:54 AM	#8
Gurk Done here. Name: - Location: Track Join Date: Jul 2011 Motorcycle(s): - Posts: A lot.	Hmm. This thread made me check them out. But I guess it's a bit more expensive for California and me. I got the absolute minimum policy I'm required in CA which is WWWWAYY less coverege than you have right there and I got quoted $891 per year. I might still go for it though. I have a feeling it's cheaper than what i'd get from other places. It probably makes a world difference in their quote that I JUST got my licence doesn't it?

July 30th, 2011, 07:34 AM	#9
EsrTek ninjette.org certified postwhore Name: Eric Location: Murfreesboro, TN Join Date: Jun 2011 Motorcycle(s): '13 300 Posts: A lot.	From what I found, I'd pay the slightly higher premiums to have a good named Ins comp behind me. I found the cheaper mo payment places do NOT pay out if a claim and if they do pay it, they will most likely drop you for it. I have Nationwide for both my van and car, but due to a screw up w/ computer system (read that as, the Nationwide employee typo'd my app and got it rejected), I just dropped them and went w/ Allstate last night in fact. My payments stayed about same on both, but I got better coverage and only a $100 deduct on both policies and now I have uninsured coverage on my bike.

July 30th, 2011, 08:42 AM	#10
planet-beaver ninjette.org member Name: Chris Location: Pike County, PA Join Date: Jul 2011 Motorcycle(s): Ninja 250, Vulcan 500 Posts: 50	My Nationwide is $112 for 100/300 liability only for both bikes (not each). Also have the uninsured for $50,000 Got 2005 Ninja 250 and 2005 Vulcan 500. I ride both, weekdays the ninja, weekend the vulcan. Ride about 11000 miles.

July 30th, 2011, 09:39 AM	#12
Linuss ninjette.org guru Name: Steve Location: DFW Join Date: Apr 2011 Motorcycle(s): 2010 Ninja 250R Posts: 294	When I was first getting my bike I looked at all the major companies, all wanting $1000+ for a year... for a Ninja 250. Looked at Progressive, and I was able to get full coverage of everything for $300 a year. I'm sticking with Progressive and moving my car insurance over to them (for more than half the savings for more coverage)

July 30th, 2011, 07:47 PM	#19
zilaniz ninjette.org member Name: Jeff Location: PA Join Date: Apr 2010 Motorcycle(s): 08 R6 Posts: 224	I have riders insurance. They only do motorcycles but they are only in a few states on the east coast. They are drastically cheaper than any other insurance quote I got.

July 31st, 2011, 09:25 AM	#23
sombo Newb..... on a steeek! :D Name: Mike Location: Windermere, FL Join Date: Feb 2009 Motorcycle(s): 2012 Harley Davidson XL883L Sportster Superlow Posts: A lot.	Just so you all know each company bases it's prices for each area on it's history with the area. If you live in an area, and drive a class of vehicle that they have had to pay more claims on, your prices will be higher. This is standard practice. I found this out from the insurance companies (it was Progressive that told me this actually). So you could be with the same company for years, move to a new location and have a drastic change in price just because of the location having many more claims to THAT company. It sucks, but it is what it is. All you can do is shop around for the best price for you location and situation.