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So it's time to renew my motorcycle insurance. This means I've had my SV/s and been riding for one year now.

My premium is $94/year :) for liability/comprehensive. I don't carry collision. My thinking was that my '01 is worth maybe $3,000 and a claim on my insurance would end up costing me several hundred or more in increased car insurance rates. I could afford to eat a loss if I had to.

I was curious what the thinking is on carrying collision. Is it something I should have? Progressive told me adding collision would add $84 a year for coverage.
 

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get an alarm and go with liability. insurance is money u never get back if your a smart rider with a little bit of luck u shouldn't need anything more
 

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^^ Respectfully disagree. ^^

I'd stick with what you have but add Underinsured/Uninsured and Med Pay if you don't have that. Comp is a good one to have when events through no fault of your own occur. My accident with 2 deer was 100% covered through comp. They repaired my bike and replaced all my gear and I was 0% at fault and will receive no adjustment in my policy. Med Pay is covering the Doctor's visits and ER costs. Without it, it would have cost me $2300 in repairs and replacements PLUS the thousands my medical expenses have accumulated over a rather minor injury (shoulder separation).

I'll add, I'm with Progressive as well. My policy will start renewal this month and I will still shop it out. I gave up on Insurance Company loyalty many years ago. Regardless of what they claim, most will leave you for dead after you have filed a claim. I'll watch what happens with mine but they assured me in writing after the 0% liability determination that my rates would go unaffected. If that's the case when my paperwork arrives, I'll stick with them. I'll personally continue with Collision coverage 'cuz with 3 bikes on the policy, it is still cheap IMO, at about $475 a year.
 

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^ Great advice.

I'd also like to add to the OP to shop around. Seriously, in this economy companies are happy to have your business. I have insurance through Nationwide which I've had since we moved down. One of my father's friends also works for Nationwide. He got me the same exact insurance for about $30/year less!

So look around, you can probably minimize your premiums at least a little bit...
 

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^^ Respectfully disagree. ^^

I'd stick with what you have but add Underinsured/Uninsured and Med Pay if you don't have that. Comp is a good on to have when events through no fault of your own occur. My accident with 2 deer was 100% covered through comp. They repaired my bike and replaced all my gear and I was 0% at fault and will receive no adjustment in my policy. Med Pay is covering the Doctor's visits and ER costs. Without it, it would have cost me $2300 in repairs and replacements PLUS the thousands my medical expenses have accumulated over a rather minor injury (shoulder separation)
collisions with deer are covered under comp, not collision?
 

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^^ Respectfully disagree. ^^

I'd stick with what you have but add Underinsured/Uninsured and Med Pay if you don't have that. Comp is a good on to have when events through no fault of your own occur. My accident with 2 deer was 100% covered through comp. They repaired my bike and replaced all my gear and I was 0% at fault and will receive no adjustment in my policy. Med Pay is covering the Doctor's visits and ER costs. Without it, it would have cost me $2300 in repairs and replacements PLUS the thousands my medical expenses have accumulated over a rather minor injury (shoulder separation).

I'll add, I'm with Progressive as well. My policy will start renewal this month and I will still shop it out. I gave up on Insurance Company loyalty many years ago. Regardless of what they claim, most will leave you for dead after you have filed a claim. I'll watch what happens with mine but they assured me in writing after the 0% liability determination that my rates would go unaffected. If that's the case when my paperwork arrives, I'll stick with them. I'll personally continue with Collision coverage 'cuz with 3 bikes on the policy, it is still cheap IMO, at about $475 a year.
THIS

Having had a similar occurence (collision with live animal) and needing large repairs the comp/coll coverage was priceless. I too am with progressive and received no rate adjustment. The extra $84/yr you're talking about is immaterial when talking about the peace of mind of full coverage.
 

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Personally, it comes down to what you are willing to eat. I am not willing to get in an accident and be without my moto until I can afford to fix it/replace it. ESPECIALLY if I hit a deer where my rate shouldn't go up at all. I ALWAYS carry:
Liability: 100k/300k
Uninsured: 100k/300k
Underinsured: 100k/300k
Private Property: 100k
Modifications/Gear: 5k
Comp Deduct: 250
Coll Deduct: 250
Towing
Rental (if they have it for moto insurance.. hehe, why not - usually free or a dollar to two per month)

I too am in the shopping around mood today. I am a member of the Wisconsin Army National Guard, so I went to shop at USAA today. Unfortunately, the office I got ahold of goes through Progressive (I THINK they do a bunch of different agencies, depending on the office, but I could be wrong). I had progressive last year, and while the coverage was fine, I wanted to either find something that was cheaper, or the same price and allowed me to suspend coverage for the winter (Progressive does not, and I am fairly certain that they do not "build" it into the cost of the coverage - again, I could be wrong).

I am 23, am married, and own my own house. I have my cars (wife's and mine) through Progressive, but Progressive does not give a multi-plan discount or anything. I have one speeding ticket, and I require the above stipulations in my quote.

Progressive (through USAA) - $576 per year.
Progressive (online) - $547
Dairyland - $544
Geico - $666 (I sh!t you not)

I'm going to check on State Farm today, but I dont have my hopes up.. It looks like either Progressive again this year or Dairyland. Dairyland doesn't have a provision to suspend coverage, but they do build in a discount because of the winter months.

EDIT:: Oh, and I guess Geico does build in the fact that I live in a "colder state". So again, progressive or dairyland unless State Far is amazing or something
 

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Ha!!

Ironic, my renewal from Progressive just showed up in the mail right now! I knew it was coming soon.

For 3 Motorcycles, full coverage; Lia, Comp, Coll, UnIns/UnderIns, UnIns Mot Prop Dam, and $3k accessories coverage on each bike.....$454/yr or 4 payments at $119 every 2 months.

Chump change! Don't think I'll shop it! ;)

I need to go buy another bike. I'm seeing a 25% discount for 3 bikes now and I'll get a 35% discount if I have another. Seems like a darned good reason to go buy that DRZ400S I've been wanting! :lmao:
 

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I'm 29, clean record, have 250k/500k comp/collision/uninsured, medical... for $349/yr through foremost. Got it through my farmers agent.
 

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Wow mine is really high.

Ive tried getting a quote on my new sv650 because i haven't insured it yet, and through progressive and geico both the lowest i could get was $1600 a year. That was with almost every coverage(except medical and roadside) but lowest amount and highest deductible.

This too high? Im only 20 but have a clean record.
 

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This too high? Im only 20 but have a clean record.

There's your answer. Unfortunately, you are still a menace to society!! :lmao:

I'd shop the bajeezus out of it and get Medical 'cuz you're gonna need it unless you're on your folks Health Insurance still.
 

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lol i know it... I would only get liability.. but got a loan so i believe i have to have full coverage. And yeah im still on my parents health stuff...

I just do not know how im going to be able to pay that amount for insurance.

At what age does it start to go down? 21? 25?

Thanks
 

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The milestones are typically 25 y/o and also married, I believe in that order. They figure once you're married, it's about the same as being neutered so you're not running around trying to impress the chicks! :lmao:
 

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Ive already got:

-health insurance
-AAA roadside assistance

here's what I have so far for a new policy.. what should I change about it? I'd be willing to pay a little more if you guys think it would be worth it.

 

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I think I've stated my position plenty enough on the issue.

Question for your AAA Roadside Assistance. Do you have the specific "Motorcycle" plan? I ask just because I know many that thought it was covered under the regular plan but it's not. I have the Premier RV/Motorcycle plan since I have a few travel trailers as well as bikes. Just a thought, just in case.
 
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