Hi and Hello & ins question

[mpowers]

First post here so don't beat me up to badley , just about to pull the trigger on a 08' Concours and was a bit shock at the insurance amount. Of course did a search and see a couple of you guys are using Markel. Well the quote from them was just as much (750.00). I find it odd this bike cost this much to insure, 32, married, 11 years on moto license,16 all together driving, no werck or tickets in over 6 years. Another 500 bucks and it will be as much as my F250, TJ, old Benz and 350z!!

So what gives and what are you guys paying that are similar in the description?

btw, great forum with lots of info which has me leaning to the new bike, this would be my 5th Kawasaki!!



mpowers
thanks!

[greko]

20 years driving lincese - 670 euro ! {ireland}

[mpowers]

Thanks Greko for the reply, not sure if everyone is out riding or just shy to post

Anyway welcome the newest member! Heading up to Chattown tomorrow morning to pic up the bike from Rose Kawasaki! Hope to ride it back but the weather may not be sutible for a first ride.



mpowers
will post picks!

[itchydogs]

Im 31, married, driving 11 years biking 2 years and im £400 fully comp.

[brkhldr58]

I had Markel a few years with my '99 Concours, they quoted me a price similar to yours for an '08, and I'm near 50 yo with 30 years experince riding. I searched around and went with Geico, similar coverage for about $450. I live in a rural area, which may make a difference also.

[mpowers]

Thanks for the reply guys, we wen't ahead with allstate. They insure everything else I own and no one really had enough of an advantage to go with them. I did get the same coverage as the cars 100k/300k which I could reduce but don't feel it's worth the risk if/when something happens.

Just got back home so we will try to post some pics tomorrow night, but maybe I'll be out riding instead . Wanted to drive her back but the weather was iffy. Oh well....




mpowers
very happy

[schmidbc]

Mpowers,

Welcome! I'm relatively new here too. I'm headed out to pick up my C14 ABS tomorrow. I'm so excited I can't sleep.

I've got a deep, dark secret, I am an "insurance guy." Not your local agent either I actually work for a Cincinnati, OH based company, yup the "evil empire" itself.

Here's the scoop on motorcycle insurance: You've got to decide what's most important to you, price or speciality coverage. They sometimes go together, but not always.

If you choose Markel, American Modern, Progressive, Foremost, Dairyland/Senty you're getting a small company that specializes in playing where the big boys don't want to. State Farm and Allstate write more bikes without really trying than any of these guys. Usually these specialized carriers have additional product features such as higher included blanket coverge for accessories (aka "farkels"), coverage for safety apparel (aka riding gear) and some even offer a replacement cost option for new bikes. They'll take crazy bikes like all the new little Asian scooters flooding the market now right on up to the Boss Hoss... the only bike that'll shut the Harley guys up. Look it up just for fun.

These companies usually rate bikes for what they really do. For example, our C14's skew higher because they'll do a 103mph 1/4 mile in under 11 seconds..... kinda sounds sport bike-ish to most. Additionaly when you count shaft drive, kipass, tps, 3 on board computers, it gets costly to put humpty-dumpty together when it lands shiny side down.

Having said that, they also offer discounts for things like experience, safety courses like the MSF basic/advanced rider's course, being a homeowner, good driving record, no claims, transfering to them from another company, good insurance score (aka credit), and muli-bike policies. Also, and perhaps most importantly their claims reps are trained to adjust MOTORCYCLE claims, not just automobile claims. Not that its relavent here but they'll understand that a Harley-Davidson is only getting repaired at a Harley shop, by a Harley mechanic with Harley parts and Harley paint. Likewise with bikes like our C14's.

On the other hand, the mega companies usually write bikes much like they write autos. Some offer coverage for accessories, some don't specity. Some take a wide range of bikes, some have a restricted list. Some will write just your bike, some want your homeowner's/renter's and auto policies before they'll even talk about your bike. Be very careful of going with these guys if you're not insurnace saavy. Find an agent who rides, or a buddy who's had good experience in a claims situation with one of these companies. There's nothing wrong with these larger companies, they can be very competitvely priced with good coverage when they've got all your other stuff. Just keep in mind the difference I mentioned before.

For example, I'm looking at a quote right now from one of the two largest "Captive" insurance carriers. They've got our house, our autos, my old '76 CB750, my wife's jewelry, and our personal liablity umbrella policy. My quote has the following characteristics:
1) 250/500/100 bodily injury and property damage liablity coverage
2) Comprehensive coverage at actual cash value (ACV) with a $250 deductible
3) Collision coverage at ACV with a $1000 deductible
4) Uninsured motor vechile bodily injury coverage at 100/300 limits
5) Total 12 month premium: $292.64.

Just for context, I'm 29 with a completely clean driving record, good insurance score, 10 years of riding experience (not that these guys care), current MSF certification and have everything else I own insured with them.

One last note of caution regarding bike insurance. If you do have a personal umbrella liablity policy with your main carrier and they offer insurance for motorcycles there may be a penalty for placing coverage elsewhere. My carrier would charge me an additional 50% for my umbrella policy if I put my C14 anywhere else.

You asked for it, you got it. There's an eyeful on motorcycle insurance. I hope it helped. If you want to get a quote online with the speciality companies, I stronly suggest you support your local agent. Insurance is meant to protect your financial well being, unless you know the score, better get some help. Same goes for the big companies. There is simply no replacement for an agent guiding you through the world of insurnace. Trust me. You'll be glad you did if there's ever a claim on the bike or anything else.

However if you're insurance saavy or simply must go it along. Check out these sites:
Markel: http://www.markelinsuresfun.com/
American Modern: These guys don't sell direct, but they do write the motorcycle insurance for Esurance. You can get a quote online but if you like it you'll have to talk with a human to bind coverage http://www.esurance.com/home/motorcycle.asp
Progressive: https://www.progressive.com/online-c...r-service.aspx
Foremost: http://www.foremost.com/products/motorcycle/
Sentry/Dairyland: http://www.sentry.com/CP/ContactUs.aspx

Ride Well.

[chi-gpz1100]

Schmidbc,

Any thoughts on geico for bike coverage?

[KrautBurner]

30 single,
multi vehicle discount, good driver discount, loyalty discount, ect...

I pay about $28.50/month for 300k/100k lia 250 deduct colision, 50 deduct comp
it's about $2 per month more than my 2004 VFR interceptor was



edit:
oh yeah,

it's state farm

other vehicles,
2005 pontiac gto 65/mo
1990 ford bronco 30/mo

[Newbie C14 God]

Originally Posted by chi-gpz1100

Schmidbc,

Any thoughts on geico for bike coverage?

GEICO absolutely sucks for insuring anything, and I think they're more crooked than usual. When stationed in Italy, we used them to insure our 1993 Dodge Intrepid (this was in 1993, btw), and when she returned to the States to get things setup (we were getting ready to return), they bumped the insurance up a few hundred dollars more per 6 months, even though we only had one ticket about a year earlier in a borrowed vehicle!

Not only that, but the MF's also base their rate on rank, so when I made E5, it went down even though I didn't get a year older, married, or anything else different!

Bottom line, GEICO makes funny TV commercials and nothing else.

I pay State Farm < $500/year for mine living in Murfreesboro, TN, at 39, married, 2 kids, and they also cover our Lexus, Mazda, and homeowners policy.

[schmidbc]

Chi-gzp1100,

Geico is a competitor of my company, so of course I'd like to steer you away from them. I won't though. They're a fine company with a satisfactory claims rating. Again, you have to decide on what you want. GEICO (aka Government Employees Insurance Company) places themselves in the space of a low-cost carrier: "15 minutes could save you as much as 15%", so don't expect a lot of extras with your policy. For example the accessories you have on your bike could quickly blow away their $1K included accessory coverage on their Other than Collision coverage.

So, if your aim is cost over coverage. Have at it. Again though, I'd incourage you to talk with one of their agents, they do have local offices in a lot of cities. There's no substitue for an agent and there's no significant cost break for going it alone.

Newbie c14 God: Try USAA if you're military. You'll have a tough time beating their prices on anything they insure.

[Newbie C14 God]

Not anymore; I got out in 1996 after > 9 years of active service.

BTW, GEICO's service might be fine, but in all my years, I have never seen a quote from them that was reasonable. After that fiasco I had with them in Italy, I went to a local Italian insurance agency which was much cheaper and still gave me full coverage.

[brkhldr58]

This was pointed out to me by some "Iron-Butt" riders and I checked my Geico policy and they were correct.

Exclusions:
(a) any hillclimbing exhibition;
(b) any race;
(c) any speed contest;
(d) any marathon-type contest;
and the one they were most concerned about
(e) any contest which sanctions continuous riding for 24 or more hours and/or mileage accumulation in excess of 500 miles per 24 hour period
I think it would still be OK to ride over 500 miles a day, as long as I'm not competing in any event

[schmidbc]

Our policy is similar, it states that "This policy does not cover bodily injury, property damage, or comprehensive or collision loss:.....
6. when your insured vehicle is: A) used in any unlawful trade or transportation; b) used for a commercial purpose; c) being operated in or planning for any: a) race; 2) Speed Contest; 3) hill-climbing contest; or 4) perfomance contest of any kind.

This is common language which all companies base their language on. Remember, the company is agreeing to accept a transfer of financial risk from us where they stand to lose big money in exchange for a small premium. There's all kinds of math equations behind different things and what "risk factors" they carry. When you're looking to do something like track days or iron butt marathons, they substantially increase the risk... which we don't pay premiums for and they don't intend to pay out claims for.

Like anything there are creative people who have figured out how manage this policy exclusion. Chances are if you're doing these events someone can help to take you through the pitfalls.

Ride well.

[schmidbc]

Newbie C14 God and any other active/reserve discharged military.

Try USAA for coverage. As long as you have had an honorable discharge from the military and are active they should be the best thing going for you price and coverage wise. You can check them out for coverage at http://www.usaa.com or call them at 1-800-531-USAA (8722).

USAA has a feature on their website where you can check your eligibility under become a member. A quick look shows you're eligible if: a) a child of a USAA memeber; b) Active-duty officers and enlisted personnel; c) National Guard and select reserve officers and enlisted personnel; d) Officer candidate in commissioning programs (Acadamy, ROTC, OCS/OTS); e) Former military personel; e1) if you're no longer in the military you're eligible until age 35; e2) if you continue to serve in the military until after age 35, eligibility expires upon seperation or retirement from the military.

I hope this helps all the service men and women out there. My wife, children and I thank you for our freedom.

Ride Well.

[Newbie C14 God]

Originally Posted by schmidbc

Newbie C14 God and any other active/reserve discharged military.

Try USAA for coverage. As long as you have had an honorable discharge from the military and are active they should be the best thing going for you price and coverage wise. You can check them out for coverage at http://www.usaa.com or call them at 1-800-531-USAA (8722).

USAA has a feature on their website where you can check your eligibility under become a member. A quick look shows you're eligible if: a) a child of a USAA memeber; b) Active-duty officers and enlisted personnel; c) National Guard and select reserve officers and enlisted personnel; d) Officer candidate in commissioning programs (Acadamy, ROTC, OCS/OTS); e) Former military personel; e1) if you're no longer in the military you're eligible until age 35; e2) if you continue to serve in the military until after age 35, eligibility expires upon seperation or retirement from the military.

I hope this helps all the service men and women out there. My wife, children and I thank you for our freedom.

Ride Well.

Well I guess I am SOOL as I am the ripe old age of 39. :)

No thanks need be given; just don't vote democrap. :)

[schmidbc]

Originally Posted by brkhldr58

This was pointed out to me by some "Iron-Butt" riders and I checked my Geico policy and they were correct.

Exclusions:
(a) any hillclimbing exhibition;
(b) any race;
(c) any speed contest;
(d) any marathon-type contest;
and the one they were most concerned about
(e) any contest which sanctions continuous riding for 24 or more hours and/or mileage accumulation in excess of 500 miles per 24 hour period
I think it would still be OK to ride over 500 miles a day, as long as I'm not competing in any event

It just occured to me I didn't answer your question! Yes, you would be just fine riding more than 500 miles/day as long as you aren't competing in any "contest".

Sorry about the delay, been out flogging my new mount.

Ride Well.

[Newbie C14 God]

You know, I had called my State Farm agent about insuring my ZX-10r for one of those track day schools at Barber last year, and she told me that it would be covered. Just thought I'd let y'all know.

[schmidbc]

Newbie C14 God,

Check out my previous post about the large insurers and the difference between them and the specialty guys. If your agent told you that and you want to test it out, get it in writing first. Its important because the agents don't settle the claims (in most cases). I think you'll find that when it comes claim time you might be up the river without a paddle.

Most insurance policies are based on policy language developed by one of two companies, most often a place called the Insurance Services Office (aka "ISO"). The whole reason this place exists is to develop language for insurance policies which is lawyer proof; or fix the language when the lawyers beat it. I highly doubt State Farm strayed too far from their language, they don't have enough lawyers.. believe it or not... to do this on their own year-in and year-out.

Let me grab a cold one and do a little digging............

After a little research, it turns out I'm right. Here's a chance to show your agent he/she needs to bone up on motorcycle coverage! State Farm should've shipped you a document called form "6279AZ.3 MOTORCYCLE COVERAGE" with your ID card. This form amends their auto policy to cover motorcycles. Under section 3 and section 4 LIABILITY AND PHYSICAL DAMAGE, respectively, both have sections entitled WHEN COVERAGE DOES NOT APPLY it states
"THERE IS NO COVERAGE WHILE ANY CAR INSURED UNDER THIS SECTION IS OPERATED IN, ENGAGED IN PRACTICE, OR WHILE PREPARING FOR ANY HILL-CLIMBING, JUMPING, RACING, OR SPEED CONTEST, WHETHER THE CONTEST IS IMPROMPTU OR PREARRANGED

This kind of cuts out track days, full race or otherwise.

I don't mean to rain on any parades, but this is what I meant by you have to accept some risks in going with big companies instead of specialty companies. These agents target home/auto/life coverage because that's what pays their bills. They write our bikes because they'll lose us if they don't. If you don't believe me just try walking into their offices to get a quote on just your bike and see how the premium turns out... if they'll take it at all. Your agent likely isn't lying to you, they just don't know any better.

Ride Well

[Newbie C14 God]

I think you might be missing a point here. You're right when you talk about the insurance companies not insuring a vehicle involved in any form of competition. However, a riding school, such as Keith Code's and others like his, are different. They aren't competitive events in any shape or form, thus they should be covered. As a matter-of-fact, it can be argued that they are no different than a MSF course, since the purpose is to improve the rider's skill level and not to win a trophy or such.