Are there any US Insurers that offer compound rates with multiple motorcycles?

[p6x]

If you own multiple motorcycles, you can't ride them all at once.

Farmers, my previous insurance company, had a provision for owners who own multiple vehicles.

You only ride one at a time, and the other is automatically in storage. Under storage, you are still covered for theft, fire, and other non-related to riding it incidents. It lowers the premium significantly.

I am currently with Progressive, and they do not offer such a deal. Each vehicle is fully insured, even if in storage.

Anyone knows of insurance making you pay a lump sum for all your motorcycles?

[Speedfrog]

Geico      

[Chuck]

Foremost. I got it through AARP. Includes break down and towing. Cheap. (Guzzi content)

[Steve S]

Just out of interest how much do you guys pay for insurance in America? I pay about £100 a year for my V11 here in the UK

[Pressureangle]

2 hours ago, Steve S said:

Just out of interest how much do you guys pay for insurance in America? I pay about £100 a year for my V11 here in the UK

Heh. My 'Sport is about $100 a month. But I'm in South Florida so twice or 3 times many other places in the US.

[p6x]

3 hours ago, Steve S said:

Just out of interest how much do you guys pay for insurance in America? I pay about £100 a year for my V11 here in the UK

I paid 327 dollars last year (12 months). This year, my premium is 302 dollars.

But you have to factor in that I am a senior citizen.

[Steve S]

I too am a great age and live in a rural area which helps 

[audiomick]

Mine, in Germany, is €177,- a year. That is only third-party property liability insurance, the legally required minimum.

If I were to take out comprehensive insurance, I would be paying within 4 or 5 years what I paid for the bike over again, so I don't. I choose to try and avoid throwing it away instead, and if I do, it's my own stupid fault.

If anyone else should drive over it, the bike would be covered by their obligatory third-party property insurance. But I try and stay out of the way of that too.

[p6x]

1 hour ago, audiomick said:

Mine, in Germany, is €177,- a year. That is only third-party property liability insurance, the legally required minimum.

If I were to take out comprehensive insurance, I would be paying within 4 or 5 years what I paid for the bike over again, so I don't. I choose to try and avoid throwing it away instead, and if I do, it's my own stupid fault.

If anyone else should drive over it, the bike would be covered by their obligatory third-party property insurance. But I try and stay out of the way of that too.

There are a lot of differences with Europe here.

Unlike Europe, you can be sued at a civil court for whatever reason the other party come up with, so you need to have some litigation protection. There are many lawyers specializing in personal injury claim.

Also, if you are injured by an uninsured person, all the eventual medical expenses are out of your own pocket. Medical costs here are just unbelievable!

[audiomick]

1 hour ago, p6x said:

.. if you are injured by an uninsured person, all the eventual medical expenses are out of your own pocket.

I understand and like the obligatory third-party property insurance.

What I really like is the obligatory insurance in the State of Victoria, Australia, of which Melbourne is the Capital. I.e. where I lived in Australia. Obligatory is third-party personal liability insurance.

https://en.wikipedia.org/wiki/Transport_Accident_Commission

 

Sure, if someone drives into your Porsche who is not insured, you have a material loss (no obligatory third-party property insurance there). The third-party personal liability insurance ensures that any and all medical and personal damage costs as a result of a traffic accident are covered. I know from second-hand experience that it works. A former girlfriend had a really nasty accident. Someone turned in front of her (she was on a bike) and cleaned her up. Left knee completely disrupted, two breaks in the right femur and both the right tibia and fibia broken. All the hospital and rehabilitation costs were covered, and she got enough personal damages to buy a house.

[FreyZI]

On 1/16/2024 at 6:23 PM, p6x said:

I am currently with Progressive, and they do not offer such a deal.

Progressive does allow multiple motorcycles on a single policy.  I've had it for years.  Actually, they used to limit a policy to five motorcycles, but they since raised that number, I was told.  I currently have four insured on my Progressive policy.  Maybe they don't offer it everywhere or maybe you didn't speak to the right representative.

[footgoose]

I'm having a tough time understanding so bear with me.

Is anyone suggesting a rider can or could, buy ins for one bike (lets say $150 annually) and on the same policy add a bike or three, and the rate is still $150 for all? The logic being the one ridden is insured and the others not, unless you ride them? Theoretically I could crash the insured one on Monday, #2 is still insured to crash on Tuesday, and #3 on Wednesday.. and all for the same $150 premium? This makes no business sense to me. Now if the 3 in one single policy cost $450, I get it.

I have State Farm. Great rates and winter lay-up is optional. I get a small discount for multiple vehicles (bikes, cars, truck) but each has a policy. I can not imagine an Ins Co lumping my 3 bikes into the same cost as insuring one. One is a liter sport bike, one is a dual sport single, and one is a vintage. Actuarials are all over the place. What am I missing?

 

Winter lay-up.. I have to call and activate it. The bike is covered Except to ride. When I want to ride it I must call and reactivate it. Premiums are pro rated accordingly. I don't use it as the rates are cheap and weather is unreliable in Indiana.

@p6x What do you mean by compound rates? I couldn't find info on that, only composite rates, which I think would be more costly (to old guys) in the long term

[Speedfrog]

In California, the minimum insurance requirement is bodily injury and property damage liability with $15k/30k and $5k coverage respectively.

I carry $30k/60k and $50k liability coverage for 2 bikes, including legal defense in case of lawsuit for the princely sum of $77/year, including various discounts.

I don't feel the need to carry comprehensive or collision on a 10 and a 20 year old bike.

As for uninsured drivers, note that California requires proof of insurance to register a vehicle, not that it makes a foolproof condition as you could have insurance at time of registration and drop it for the rest of the year, so I'm sure there are still plenty of uninsured drivers out on the road.

[FreyZI]

6 hours ago, footgoose said:

Is anyone suggesting a rider can or could, buy ins for one bike (lets say $150 annually) and on the same policy add a bike or three, and the rate is still $150 for all?

Not quite.  The price of the policy increases with additional bikes, but by a fairly negligible amount.  I don't remember exactly, but when I added a plated 2010-ish WR450F, it raised my premium a couple bucks (literally, $2) over six months.  Also, you can have different coverages on different bikes.  Only bike I have comprehensive on is the Tenni.   

[p6x]

13 hours ago, audiomick said:

Sure, if someone drives into your Porsche who is not insured, you have a material loss (no obligatory third-party property insurance there). The third-party personal liability insurance ensures that any and all medical and personal damage costs as a result of a traffic accident are covered. I know from second-hand experience that it works. A former girlfriend had a really nasty accident. Someone turned in front of her (she was on a bike) and cleaned her up. Left knee completely disrupted, two breaks in the right femur and both the right tibia and fibia broken. All the hospital and rehabilitation costs were covered, and she got enough personal damages to buy a house.

Indeed. I am not really worried about material loss. Sure, it is annoying, but it is just "stuff" that you can replace.

I however am very concerned with injury. Especially at my age, when everything takes a long time to fix itself.

I do defensive driving, but there is only so much you can do. The daily traffic jams have exacerbated people's driving frustration, pushing them to take risks.