Motorcycle Insurance...

[jaclyn]

We currently have Progressive as our insurance carrier.

(Bike 1) 2004 Harley Davidson FXSTSI Springer
(Bike 2) 2006 Harley Davidson FLHTCUI (Ultra Classic)

Total yearly premium for both bikes= $595.00

My question:

Is this good?

Hubby would like to insure the Springer for $35k. (Sucks, but this is how much we have invested in it). What is required, to insure the bike for this amount? Receipts? Will they include labor, or just parts?

Thanks in advance...

 

[sanchezf]

We currently have Progressive as our insurance carrier.

(Bike 1) 2004 Harley Davidson FXSTSI Springer
(Bike 2) 2006 Harley Davidson FLHTCUI (Ultra Classic)

Total yearly premium for both bikes= $595.00

My question:

Is this good?

Hubby would like to insure the Springer for $35k. (Sucks, but this is how much we have invested in it). What is required, to insure the bike for this amount? Receipts? Will they include labor, or just parts?

Thanks in advance...

Statefarm told us that all we had to do was keep receipts and pictures, however when it got stolen, they would only pay us what the bike was worth.
Look into getting LoJack that way if the bike is stolen and they can't recover it they pay you, as well as your insurance company.

 

[jaclyn]

Statefarm told us that all we had to do was keep receipts and pictures, however when it got stolen, they would only pay us what the bike was worth.
Look into getting LoJack that way if the bike is stolen and they can't recover it they pay you, as well as your insurance company.

Yeah, thats just it. Currently, if the bike is stolen, we would only get blue-book value...We would like to make sure we get what we have in the bike. I will look into LoJack. Thanks.

 

[dn0121]

Wirelessly posted (Mozilla/4.0 (compatible; MSIE 4.01; Windows CE; PPC; 240x320))

you can get great rates from harley davidson ( they resell progressive) my yearly premium was cut in half.

 

[johnjrval424]

We currently have Progressive as our insurance carrier.

(Bike 1) 2004 Harley Davidson FXSTSI Springer
(Bike 2) 2006 Harley Davidson FLHTCUI (Ultra Classic)

Total yearly premium for both bikes= $595.00

My question:

Is this good?

Hubby would like to insure the Springer for $35k. (Sucks, but this is how much we have invested in it). What is required, to insure the bike for this amount? Receipts? Will they include labor, or just parts?

Thanks in advance...

Hard to say whether that is a good rate without knowing your deductible, coverage limits, optional coverages (roadside assistance, etc.). We also have Progressive (through Harley-Davidson) and our premium is $293 for a 1999 Wide Glide. We have high limits/low deductibles.

One thing I have found recently, when actually reading my insurance renewal documents, is that Progressive was using our credit report to set our rate. Now, we have great credit - no question - but Progressive (or any other insurance company) is NOT allowed to use your credit score/history to set insurance rates except for when they initially offer you a policy. I have filed a complaint with the Maryland Insurance Administration against Progressive for this reason. The State of Maryland sent Progressive a letter and demanded to know why they were using this information and Progressive is getting a response together.

So, the moral of the story is, check your insurance documents carefully! You never know if you are being rated unfairly and could possibly be overcharged!

 

[GWguy]

Hard to say whether that is a good rate without knowing your deductible, coverage limits, optional coverages (roadside assistance, etc.). We also have Progressive (through Harley-Davidson) and our premium is $293 for a 1999 Wide Glide. We have high limits/low deductibles.

One thing I have found recently, when actually reading my insurance renewal documents, is that Progressive was using our credit report to set our rate. Now, we have great credit - no question - but Progressive (or any other insurance company) is NOT allowed to use your credit score/history to set insurance rates except for when they initially offer you a policy. I have filed a complaint with the Maryland Insurance Administration against Progressive for this reason. The State of Maryland sent Progressive a letter and demanded to know why they were using this information and Progressive is getting a response together.

So, the moral of the story is, check your insurance documents carefully! You never know if you are being rated unfairly and could possibly be overcharged!

They did this to me too. Charged me more because I didn't had a car loan on my credit history. Bunch of BS.

 

[bad1032]

cycle direct is by far the cheapest price, As far as theft keep copies of everything you put on it and if it get stolen you can prove the value , Been there sucks to have one stolen, took some fighting but all the reciepts helped get more then blue book,

 

[ImnoMensa]

You've got $50,000 dollars worth of motorcycles (toys) and worry about Insurance rates?

 

[johnjrval424]

You've got $50,000 dollars worth of motorcycles (toys) and worry about Insurance rates?

So? We all have our vices - just depends upon how much we spend for them...

 

[jaclyn]

You've got $50,000 dollars worth of motorcycles (toys) and worry about Insurance rates?

I was more concerned about being able to buy more "toys" if they happened to be stolen.

 

[itsbob]

Yeah, thats just it. Currently, if the bike is stolen, we would only get blue-book value...We would like to make sure we get what we have in the bike. I will look into LoJack. Thanks.

If you bought a Honda Civic, and put on a supercharger, had the engine 'worked', and other assorted items done to increase it's 'value' to 30k, and it was totaled how much would a car insurance company give you?

 

[jaclyn]

If you bought a Honda Civic, and put on a supercharger, had the engine 'worked', and other assorted items done to increase it's 'value' to 30k, and it was totaled how much would a car insurance company give you?

Blue Book...probably. Thats what the insurance company told me, when I called to ask about theft or damage. Still...thats more than Harley would offer for a trade, lol. Thats exactly why I would like to "up" the insurance on the bike.

 

[BS Gal]

Blue Book...probably. Thats what the insurance company told me, when I called to ask about theft or damage. Still...thats more than Harley would offer for a trade, lol. Thats exactly why I would like to "up" the insurance on the bike.

Good luck with that. We were going to buy a Harley that was worth $17,000 with the upgrades. We could only finance $13,300. I don't think the insurance companies will finance the extra stuff you put on it, since the banks won't loan that.

 

[onebdzee]

I have Allstate....$288 a year

If that bike were to ever have anything happen to it, I get full replacement value....to include all the upgrades that I have done....I have no deductible

 

[jaclyn]

I have Allstate....$288 a year

If that bike were to ever have anything happen to it, I get full replacement value....to include all the upgrades that I have done....I have no deductible

Good deal. What exactly did you have to do, to get FULL replacement value, including upgrade? Did you have to show receipts?

When I called Progressive (my current insurer) to inquire about adding insurance..heres what they said: You CANNOT just add 30k in insurance. Basically, I would "add" insurance to cover what I have "put into" the bike. IF, something were to happen, lets say stolen, THEY (progressive) would write me a check for the blue book value of the bike...and a seperate check for what I "put into" the bike. This would include parts, not labor. I would need to keep receipts for these.

Let's just say that BlueBook value on the 04' springer is 10k.
Let's say I have 15k extra "in" the bike, which is only including parts.
I would get a check for bluebook plus 15k...less my $500 deductable?
Thats what I am assuming anyway.

As of now, I'd be pretty screwed, considering I would only get bluebook. Im going to give Allstate a call tomorrow...

 

[atrusomder]

my husband has progressive through USAA and it's 200 a year, we literally pay 100 bucks in july and 100 in January..
his is a 01 HD sportster

 

[onebdzee]

Good deal. What exactly did you have to do, to get FULL replacement value, including upgrade? Did you have to show receipts?

When I called Progressive (my current insurer) to inquire about adding insurance..heres what they said: You CANNOT just add 30k in insurance. Basically, I would "add" insurance to cover what I have "put into" the bike. IF, something were to happen, lets say stolen, THEY (progressive) would write me a check for the blue book value of the bike...and a seperate check for what I "put into" the bike. This would include parts, not labor. I would need to keep receipts for these.

Let's just say that BlueBook value on the 04' springer is 10k.
Let's say I have 15k extra "in" the bike, which is only including parts.
I would get a check for bluebook plus 15k...less my $500 deductable?
Thats what I am assuming anyway.

As of now, I'd be pretty screwed, considering I would only get bluebook. Im going to give Allstate a call tomorrow...

I have Allstate with all my stuff(truck, house and bike)....I just went in there and asked them what they could give me....I don't have all the "extras" on my bike....It's an '06 1200XLT and the only thing I've done is the stage 1 and add a windsheild(I have all the receipts)

 

[dustin]

my husband has progressive through USAA and it's 200 a year, we literally pay 100 bucks in july and 100 in January..
his is a 01 HD sportster

IIRC i had GEICO, but USAA was about the same price, and that is who i have now and who i would insure a bike with if i ever got another one. Can't remember how much my premium was though.

 

[sn315on]

We use GEICO for our cars and motorcycles. I think that our bike ins. is about $300 a year and there's a $500 deductible on the Ducati. Hubby has a 1983 Honda with antique plates and a 2006 Ducati. Been using them for about 6 years now for the bikes. We have $20K for damage on both bikes.

Do you have Lo/Jack on your bikes?

 

[jaclyn]

We use GEICO for our cars and motorcycles. I think that our bike ins. is about $300 a year and there's a $500 deductible on the Ducati. Hubby has a 1983 Honda with antique plates and a 2006 Ducati. Been using them for about 6 years now for the bikes. We have $20K for damage on both bikes.

Do you have Lo/Jack on your bikes?

No, we do not have lo/jack....just the security system that was added to the bike, via HD, when purchased.