[Richard230]

I was surprised and delighted that the yearly insurance premium for my 2011 Bullet has dropped from $56 last year to only $22 this year.  Apparently Progressive insurance believes that the Bullet and I are at a low risk for causing up to $500K in damages to whomever I smash into. I guess they don't know how sturdy the lump can be when it runs into modern plastic car fenders and big American butts.   

[hpwaco]

Just changed from Dairyland to AARP Foremost on my 14GT.   Saved $26 and got free road service.   However it still cost $79 including mandatory Texas passenger liability.    Geico quite was considerably more.

[Ove]

Just over £100 in the UK. I thought you were the land of lawsuits and high insurance premiums! 

[Bilgemaster]

I was surprised and delighted that the yearly insurance premium for my 2011 Bullet has dropped from $56 last year to only $22 this year.  Apparently Progressive insurance believes that the Bullet and I are at a low risk for causing up to $500K in damages to whomever I smash into. I guess they don't know how sturdy the lump can be when it runs into modern plastic car fenders and big American butts.   

Well, that's the kind of news you like to hear.

[axman88]

What is going on vis a vis insurance companies and motorcycling?  All the big events and even some of the relatively small local swap meets I've gone to in the last couple of years have major presence by multiple insurance companies.   Big booths staffed by attractive people, free tote bags, the usual trade show stuff.

The huge MotoBlot event I attended last summer had Progressive insurance as a major sponsor.  I haven't stopped at any of the booths to talk to the pretty girls, so I don't know what story they would have told.

Have they figured out that we as a group are an easy mark, or what is going on?  It doesn't seem like selling life insurance or even liability to a population at relatively high risk is a brilliant business model to me.   This seems like a relatively new thing.  Have you guys noticed this too?

[diogo_sergio]

As a 22 year old i was paying about 400 euros a year for my 2013 b5. After passing the bike to my father's name, and listing me as an ocasional rider i'm still paying about 150 euros a year, despite it beeing listed as his 2nd bike.

[Richard230]

What is going on vis a vis insurance companies and motorcycling?  All the big events and even some of the relatively small local swap meets I've gone to in the last couple of years have major presence by multiple insurance companies.   Big booths staffed by attractive people, free tote bags, the usual trade show stuff.

The huge MotoBlot event I attended last summer had Progressive insurance as a major sponsor.  I haven't stopped at any of the booths to talk to the pretty girls, so I don't know what story they would have told.

Have they figured out that we as a group are an easy mark, or what is going on?  It doesn't seem like selling life insurance or even liability to a population at relatively high risk is a brilliant business model to me.   This seems like a relatively new thing.  Have you guys noticed this too?

Well, they must be making money off of someone, just not me.     My guess is that auto insurance is the big cash cow for Progressive.  However, I am not quite sure what they get out of motorcycle owners.   

BTW, my Zero electric motorcycle insurance, which is on the same policy, increased from $72 to $79 this year.  But keep in mind that I am self-insured for everything, including uninsured driver insurance, other than third-party liability insurance that will protect my assets should I cause an accident.

[darmahman]

Does this include comprehensive and collision??? If so, what is your deductible?

I was surprised and delighted that the yearly insurance premium for my 2011 Bullet has dropped from $56 last year to only $22 this year.  Apparently Progressive insurance believes that the Bullet and I are at a low risk for causing up to $500K in damages to whomever I smash into. I guess they don't know how sturdy the lump can be when it runs into modern plastic car fenders and big American butts.   

[Richard230]

Does this include comprehensive and collision??? If so, what is your deductible?

I do not have comprehensive or collision insurance.  As I said, I am self-insured for those issues.

[darmahman]

Thanks

[swamp2]

I've had Progressive for years.  They'll let you have 4 bikes on one policy, so I have my '12 C5, '72 BMW R75/5, '02 Victory V92C and '90 BMW K100LT on right now.  No collision on any of them, comp on the C5 and V92C only as the other bikes are too old.  For all 4 - $75 a year total.  Hard to beat that.

[darmahman]

I have had Progressive for 20-25 years. Just dropped all collision but kept comp and and saved 300 bucks on my 6 bikes. Thanks for the idea.

[Bilgemaster]

Just over £100 in the UK. I thought you were the land of lawsuits and high insurance premiums!

I believe this might be a case of Apples and Oranges. Admittedly, the last time I insured a bike in Britain (specifically Scotland) was about 1980, so things may well have changed. At that time the minimum requirements for a motor insurance policy were "Third Party, Fire and Theft", where "Third Party" would be roughly the equivalent of what we call "Liability" on this side of the Pond. Over here the requirements vary state by state. Some, like New Hampshire, do not even require vehicle insurance as such, but most only require some form of Liability (Third Party) Insurance, the minimum coverage of which varies by state. I personally know of no state that requires those "Fire and Theft" kickers, and seeing as how by all accounts motorcycle theft appears to have devolved into a popular form of yobbish folk sport since I last resided on your Sceptered Isle, I cannot say I'm surprised you're forking out about five times what I have to pony up.

But all this talk of insurance or "assurance," if you will, is growing dull. Time for a rousing interlude!

[Richard230]

If you have a loan on your bike the loan company will require you to take out comprehensive and collision insurance and will leave liability and uninsured motorist insurance up to you and your state's requirements.  That collision insurance is what will really sock it to you.  Since I have been riding for 58 years, I bet I have saved tens of thousands of dollars by not insuring my motorcycles for that coverage because I always save up the price of the motorcycle before I buy it and pay cash. Therefore I can save enough on insurance premiums to put the extra money back into my motorcycle buying savings account.   

I might add that I once inquired about full insurance coverage for just my 2002 Yamaha FZ1 at a motorcycle show and was told the the yearly premium would be $3,000! (The bike cost $8,500 when new.) That really convinced me that being self-insured was a great idea.

[Ove]

Yep, not like for like comparison, my price was for full all risks cover, including replacement bike. Covers the whole of the EU for European trips, I think up to 30 days each time. So, I suppose not so bad.

Bike thefts, I've never met anyone who's experienced it. But I expect it would be a worry in big cities. Premiums are higher there. I am required by my policy, when it's at home, to store the bike overnight in a locked garage with the steering lock engaged. I didnt declare the house and outbuildings security system, just in case I forget / it fails.   

Honestly, over here, since the power of the internet kicked in, buying insurance each year is 50 questions and you almost come away feeling guilty and grateful they've taken your money!