Guzzi friendly US insurance companies?

[jhh]

So, I'm still shopping around for a decent insurance company for comprehensive coverage. My driving record is flawless, I'm an experienced rider (not that they care), and I've taken an MSF class as well.

 

I have Allstate now, but the coverage is kinda pricey (~85 a month) since they're rating my bike based on displacement.

 

I called Bikeline and the representative said "Your bike scares us." and then proceeded to quote me a 250$ a month policy.

 

Progressive wanted about 115$ a month for coverage.

 

State Farm lost so much money during Katrina that they won't write new policies for anything even remotely risky (no motorcycles, no sports cars, no homes in any non-flood areas).

 

Esurance (where my car is insured) wanted over 300$ a month for bike insurance. Oddly enough, they insure my fragile little 911 cabrio for about 104$ a month.

 

Anyone have suggestions for a new insurance company? I'd really love to shave a few bucks off of that monthly insurance note, but I don't like relying on liability only insurance. Bonus points if I can insure my car through the same company - Allstate won't write policies for my car in Louisiana.

[Dan M]

So, I'm still shopping around for a decent insurance company for comprehensive coverage. My driving record is flawless, I'm an experienced rider (not that they care), and I've taken an MSF class as well.

 

I have Allstate now, but the coverage is kinda pricey (~85 a month) since they're rating my bike based on displacement.

 

I called Bikeline and the representative said "Your bike scares us." and then proceeded to quote me a 250$ a month policy.

 

Progressive wanted about 115$ a month for coverage.

 

State Farm lost so much money during Katrina that they won't write new policies for anything even remotely risky (no motorcycles, no sports cars, no homes in any non-flood areas).

 

Esurance (where my car is insured) wanted over 300$ a month for bike insurance. Oddly enough, they insure my fragile little 911 cabrio for about 104$ a month.

 

Anyone have suggestions for a new insurance company? I'd really love to shave a few bucks off of that monthly insurance note, but I don't like relying on liability only insurance. Bonus points if I can insure my car through the same company - Allstate won't write policies for my car in Louisiana.

 

Wow, how old are you? I wonder if it is the flood scare. I have full coverage Progressive on my Guzzi, BMW and Husky - $353.00 for all of them per year.

[jhh]

Wow, how old are you? I wonder if it is the flood scare. I have full coverage Progressive on my Guzzi, BMW and Husky - $353.00 for all of them per year.

 

I'm 32 with a clean driving record and good credit. I know my location is part (well, most) of the issue.

 

My car is registered in California, and the insurance price I pay is from there. When I asked about insuring it here in New Orleans, the amount nearly doubled. The Esurance guy explained to me that not only did the flood risk (despite my not living in a flood area) contribute to the higher cost of insurance, but also that the drivers here were comically bad - and I agree fully with him on that point, as they really are the worst ones I've ever had the displeasure of "sharing" the road with.

 

When I first contacted Allstate about insuring the Guzzi, I asked them how much it would be to put my car on the same policy. Their response was that it simply wasn't possible for them to insure the car ('95 Porsche 911/993 Cabrio) here.

 

Bikeline told me straight up that it was the bike, and almost all of the expenses involved in insuring it with them were tied up in the comprehensive coverage.

 

I think the roads here are also part of the issue; they simply aren't ever fixed. There are potholes here capable of swallowing SUVs whole (ask me how I know!).

 

On the bright side, I'm pretty fed up with living here and I'm strongly leaning towards moving, likely back to Cali or maybe Portland, OR.

[joe camarda]

GEICO: $419 per year. Clean record, 57 yr. old male.

[JoeV11]

Have you tried Progressive? They always had good prices for toys of any kind. Joe

[ponti_33609]

Wow. Sounds very high.

 

Progressive - 185/year

48 years with clean record.

[DeBenGuzzi]

GO GEICO, you can do some others but they're only cheap or will only cover your bike if you have a lot of other coverages like home owners and multiple car policies and crap like I have with farmers BUT I'm still looking to switch to geico they have better coverage for the same money as I pay now actually $40 a month full coverage for the aprilia and like $20ish a month for the Guzzi but its really only that cheap if you take off bodily injury from the policy and just go for full property damage, as in if you have good health insurance then take off the bodily injury otherwise I'd opt for it.

[richard100t]

I have full coverage on mine with Progressive for about $180 a year. I'm 39 with a clean record. Tell them to check more closely at what your bike really is. I had a similar problem when I first tried to insure mine.

[P3GA]

I have full coverage on mine with Progressive for about $180 a year. I'm 39 with a clean record. Tell them to check more closely at what your bike really is. I had a similar problem when I first tried to insure mine.

 

I agree, you may need to educate the insurance underwriter about what you are riding. I pay about $350 per year with Progressive, but there's some other toys on the policy.

[Dan M]

I'm 32 with a clean driving record and good credit. I know my location is part (well, most) of the issue.

 

My car is registered in California, and the insurance price I pay is from there. When I asked about insuring it here in New Orleans, the amount nearly doubled. The Esurance guy explained to me that not only did the flood risk (despite my not living in a flood area) contribute to the higher cost of insurance, but also that the drivers here were comically bad - and I agree fully with him on that point, as they really are the worst ones I've ever had the displeasure of "sharing" the road with.

 

That's too bad. Looks like they are all adjusting their rates for both weather and human "environmental hazards". I like N.O., usually go down for 4 days or so to binge & purge about one a year. I have witnessed the fine driving habits. When I was there last month I noticed nearly every cab driver I had was Haitian and they drove with a vengeance. Not the southern, laid back, no rush "how y'all doin" I was accustomed to.

Good luck with your search.

[gstallons]

Contact Ponti's agent and see if he can write you a policy in La. I got my policy through Progressive from an agent in Fla. and saved $$$$$. I have three bikes . K100 rs w/liability, 2 MGs with full coverage and pay about $450 /yr.

We should look into a buyers group for insurance. Anyone want to spearhead this movement?

[dlaing]

I keep shuffling Insurance dealers and getting quotes all over the place.

First State Farm gave me best deal, then they jacked the rates and I went with AAA, then they jacked the rates and I went with Wawanesa (or was that just for my car???), and then I got a better deal with Geico, $275 per year with $500 deductible, and declined uninsured.

When I got earlier quote from Geico before I was married, they wanted four times that.

Progressive was also very expensive when I got quotes in 2001 and some other year.

I kept trying Progressive because they were cheap for me before the early 1990s.

I think it is all in how you fall in the brackets.

Shop around!

[Garsdad]

At the risk of inviting ridicule and harsh retorts, I will admit that I am still a licensed insurance agent. Not practicing anymore, but still licensed (at least through August when it expires).

 

Rates are based on losses experienced for a risk group. You will be surprised to learn that insurance companies rarely earn an underwriting profit (profit made by taking in more premium than they pay out in claims). They make the bulk of their money by investing all those premium dollars between the time they collect them and the time they pay them out, and on fees they charge to service your policy ($5 a month for monthly billing times 3.5 million households...). The premium they charge is regulated by the state, and must be approved by the Director of Insurance in each state the insurer does business in. You can't even offer a tiny discount for paying by auto deduction rather than monthly paper billing unless you submit proof to the DOI that there is a clear savings to the company that justifies the discount.

 

Your age, driving record, credit score (in some states), level of education, where you live, etc are all used to put you in a pool of similar risk, and the premiums charged are based on the claims payments made on behalf of that pool. Events like Katrina can be a real bitch, because losses are huge across all risk pools that share nothing but geography. While a home owner's policy excludes damage from flood, your auto insurance does not, and those claims were huge. By your own reckoning, the quality of driver in your area is not too great either. Boston has the same problem, and thus has some of the highest rates around.

 

So, where you live counts heavily against you. Your rates are going to be higher than mine. Your car doesn't help, either, as I know of at least two companies that won't touch a new customer with a Porsche (losses on those are much higher than average). Keep in mind that the laws in your state vary from mine and everyone else's, and that will affect premiums, too. The fact that person A pays $190 a year in North Dakota means very little to someone in Louisiana.

 

Start with an independent agent, and get a quote for your entire book of business (auto, bike, home). Call Liberty Mutual- they may let you past the car thing if you represent more than one policy. They rate on displacement only as well, but they don't surcharge for "sport bikes" like many others do. Check with Progressive, and try one of the motorcycle specialty companies, too. Dairyland may work for you if they write there.

 

Good luck. A little homework will pay off. Start with an independent agent, though, as they can research lots of smaller carriers for you, freeing up your time for the big five.

 

Garsdad

[waspp]

I insure mine with Foremost Insurance, they may not be available in every state but I have 4 bikes on the policy and its around $600. I also have a clean record and am 48 years old.

 

Hal

[jhh]

Thanks for all the advice! I'm going to keep on trying some more companies, and this time I think I'll go through an independent agent as Garsdad advised.

 

Even though it's not 100% legal, I do have an address in California I can register the bike at, I'd just have to take it over there and pay taxes on it again. As a last resort (and an excuse to take the bike on a real road trip), I may wind up doing that.