Beatin up a dead horse again INSURANCE

[ICEMANN]

It's that time of year again, and Im calling to get insurance quotes.

When insurance companies run their "CREDIT/OL" check does that affect your becan scores for too many inquiries? Does the inquiry even show up?

Lastly, the rates Im getting are all over the spectrum for the same amount of coverage.

What is most people carrying for coverage.
100/300/100
100/300/50

or even lower. I Know in a car you might want 100,000 + for property damage but is it really needed for a bike? Im mean the worse you could do is total a side of a car not the whole thing. How many 100K cars can a person possibly run into IN OHIO......

Lastly, any experience when a claim is needed to be filed with problems dealing with the companys.

I know from experience Progressive is one of the highest companies for coverage when it comes to the busa. Average is usually $900 and up a year. However when it's time to pay up it's no questions heres the check. (at least for me).

State Farm has a rate around $400 a year for same coverage but dont know about their payout headaches etc...

Allstate has similar rates as statefarm however no nothing about them.

Geico, even as a gov employee, has higher rates than state farm and all state but in motorcycles their less than progressive.

Funny thing is that progressive has dayum near the cheapest car insurance of em all.

Anyway besides going for the "LOWEST RATE" what else should I be considering. I mean I dont want to pay top shelf prices yet I dont want to have to sue to get it fixed like it was.

Any input is greatly wanted.

 

[Haywood]

I heard that State Farm's adjusters are told to fight every claim.. at least here in Canada.  But it wouldn't surprise me to find they do it in the US also.  Other than that, I'd suggest shopping around, as you're doing and talk to others, particularly those who've made claims, because the company and insurance coverage is only as good as their ability/willingness to pay the claim.

Oh, and watch for the tricks they play.. like quoting you a good premium, then when you go for it, they say something like, ya, but you've got to give us some other business too. Before you know it, you're paying way too much (they have to make up the lower mc premium somehow)... this exact thing happened to someone I know just today, with State Farm.



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[tbonebusa]

I've been with State farm my whole life, and have never once had a bad experience concerning a claim...cars, boats, renter's, homeowners, etc.....However, I have never had a claim on a bike, so YMMV...

How's my led's coming?

?

Tim

 

[Sane_man]

I had State Farm only because they didn't do credit checks, and had the lowest quote . I didn't have any other vehicle on the policy but the Busa and was only paying $352/yr for full coverage. I switched only because USAA would give me the same coverage for $210/yr, but I did get a multi-vehicle discount.

 

[gararnett]

Companies are different - rate wise - in every state. one company is cheap, and another is high. Where I'm at, It is almost impossible to get liability limits above the state minimum of 25k/50k. Unlike cars where increased limits are cheap and encouraged, for some weird reason, they are insane high for bikes, from all companies. Secondly, its not just my state, but the region of the state. There are some insurers pulling out of Ky. also. Finally, I do not insure with State Farm on principle. Back in the 80's they were the primary and biggest company to black list all bikes with fairings or of a sport bike persuasion. They even black listed the BMW K100 - the only ABS equipped bike on the planet, as being unsafe. They were shown the error of their ways, but since then, I do not buy anything from them. Progressive has always treated me good on the bike. I've never had a claim on a motorcycle, andliability alone for the busa is $250. $69 (their yearly minimum premium) for either of my other bikes which have virtually no hp (BMW F650 and old Triumph 650).

If you can get increased liability limits, get it. If you can get uninsured and underinsured motorist, get it. They are not included in "full coverage". I don't carry "full coverage" (comprehensive and collision) as it would run me over $1300/yr. I'm 35, married with child, and a MSF instructor. I can't/won't pay that. And its the cheapest I can get.

 

[justintime2]

Any employer or insurance company that checks your credit will not effect your beacon score. As a matter of fact it is listed in a seperate part of your credit report that only you and the credit bereau can see. Any other company will have no idea who has looked or how many times, they just can't get that info. Now if you apply for credit of some sort for a financial transaction/loan, then it will. The amount of showing credit inquiries you can have before it effects your beacon rating vary. Remember, having to many open accounts, even if they havn't been used for years and show a zero balance, will lower your beacon score. So if you havn't used them, and won't again, have the company update it to reflect that it was "closed by consumer".

 

[ICEMANN]

Well I contacted State Farm, All State, Farmers, Progressive (currently with), and Geico.

Currently with Progressive I was paying $373 for my SUV every six months. 100/300/100 w/towing and rental reinbursement of $40 per day. $50 comp $250 deductible. For the Busa Im paying $998.00 per year. At the time of my last policy State Farm, and All State was not taking new customers. Bastards!

NOW:

State Farm was the best. Same coverage except comp is $100 and rental is $50 per day. The suv Rate was $435.00 every six months. The busa is $417 every year. So go up a little in SUV but save $500+ on Busa.

All State Was $578 for the SUV 6/mo and WONT TOUCH THE BUSA.

GEICO
SUV $578 6/mo, Busa $758 per year but with $500 deductible and $50,000 property (100/300/50)

Farmers
When Asked what Ive been quoted for each chuckled and said "I would go with state farm" it's a no brainer and didnt give me a quote.

My SUV expires 4/5 and my busa 6/13. Im going to go ahead and cancel em both and pay state farm off. Still make out better in the long run as long as the bastages dont beatch up when it's time to pay.

SO MY MORAL IS RE-EVALUATE YOUR INSURANCE POLICY!


TBONE, Just waiting on parts. Transportation by vessel takes for ever and a day + 2-3 for good measure. Im more eager than you are.

JD

 

[STUNNAH]

I've never had State Farm but a few of my partners have...They totaled their bikes and their claims were handled without any problems...I had Allstate at one point and had a bad collision and had no problem with them either...I agree in your situation State Farm is the way to go...