Mike Stewart Posted March 21, 2003 Posted March 21, 2003 Hi all, I just thought we should do a poll on insurance rates for the V11Sport and Lemans. I have six bikes insured, five being insured with Progressive Insurance and my V11Sport being insured with Universal. The reason for having my bike insured with Universal instead of Progressive is that Progressive wants $1000.00 a year for full coverage. This is double that of Universal. What's weird is the five other bikes are more expensive on the Universal plan. What gives? I would like to have all bikes insured by one company to get a multiple bike discount. The V11Sport is more like a touring bike than a sport bike. My Falco is Aprilia's sport tourer and is more like a track bike than a touring bike but cost less to insure. Go Figure! I also have a clean record! So what are you paying per year for full coverage on your V11Sport or Lemans? Please tell which company you use also. Thanks, Mike, Paying through the nose for insurance
Ray Posted March 21, 2003 Posted March 21, 2003 Motorcycle Consumer News did an in-depth report on this a couple of months ago. In short, rates vary widely, mostly depending upon where you live. It pays to shop around, the criteria vary from company to company and are often imprecise. I pay State Farm a little less than $300/year with full coverage and a $250 deductible on my V11S. Not bad for an urban area, albeit one with a fairly short riding season. Make a few calls.
dlaing Posted March 21, 2003 Posted March 21, 2003 In san diego Allstate increased my rate from about $202.60/6months to $236.60. This policy was for 15/30/25 liability, 15/30 uninsured, $250 dedutible collision, $100 deductible comprehensive. I am 38, have a clean record and no other discounts. I found it insulting to raise the rate on the bike when its value had dropped 20%, so I went with AAA, whom I had been paying for car insurance. AAA charged me about the same, but I went with them to consolidate my billing. Next time around, I am going to drop the collision and comprehensive. No sense in gambling on failure. If I were you, I would check with AAA and Allstate. I used to swear by Progressive and Royal Balboa, but when I checked with Progressive, they wanted $1400/year and that was over two years ago. My ex-allstate rep is in Clovis, Ca Despite Allstate increasing my rate by more than 15% I still recommend my allstate rep, as she was very professional and sent everything to me quickly. She was recommended by Wilson's motorcycles of Fresno. Pola Jean Donner 559-298-2727 200 W Bullard #A3 Clovis CA 93612 Does anyone know how Lo-Jack works?
Guest Buck Posted March 21, 2003 Posted March 21, 2003 I just got my insurance renewal in the mail last night. Among the other increases (such as my homeowners rate going up 20%) the Le Mans is now up to a little over 500 bucks a year for 100/300/50 with a 250 deductible with Nationwide. Altogether I carry full coverage on 3 bikes (the Le Mans, my '00 RT, and '01 F650GS) totalling a little over $1300/yr. The Le Mans is definitely the most expensive despite the fact that it has the same horsepower as my RT and would cost less to fix or replace. Go figure.
jrt Posted March 21, 2003 Posted March 21, 2003 Does anyone know how Lo-Jack works? GPS enabled cell phone is my guess. Their website is remarkable uninformative. Now you guys are going to make me look up my insurance. Sigh. 5 bikes. I'm as bad as Mike. At least I'm in no-wheresville, so it's cheap. cheers, Jason
Guest russ Posted March 21, 2003 Posted March 21, 2003 about $280 per year in Texas for the same coverages. Includes my 78 BMW R100RS as well.
Woodburn Posted March 21, 2003 Posted March 21, 2003 I have Progressive and they charge me about $300 a year for full coverage on my Suzuki Volusia. When I went to add my '01 V11 Sport, they wanted an additional $1300/year!!! I decided to just get liability to be legal. I don't understand how they can justify such an insane amount for the Guzzi. The only thing I worry about now is if it was stolen- I'd be out of luck.
Guest Jaap Posted March 21, 2003 Posted March 21, 2003 In Holland we have some companies that offer special Guzzi insurance. Extremely low rates. I now pay half the amount of what I had to pay for the insurance of my FZS 600 Fazer. And the new price of the Yamaha is about half the Guzzi's.... I think nobody wants Guzzis, so no theft, and we are cautious riders... yeah... Link to insurance company. Dutch only.
Guest callithrix Posted March 21, 2003 Posted March 21, 2003 I almost didn't buy my Guzzi becuase of the insurance. Most companies wanted 1000 to 1500 bucks for 15/30/15 coverage with a $500 deductible That's considering my clean record and 12 yrs. of motorcycle experience. The highest qoutes were from Progressive and Foremost ( who I've insured my Sportster with for the past 2 yrs.) I was in complete shock becuase my 2001 sportster has 4x as much coverage and costs $200 a yr. I finally got GMAC and got full coverage for $500 a year. The difference is shocking considering in terms of displacement and power the engines are very similar. I was also informed that post 9/11 and it's economic consequences all Ins. companies have tended to increase rates so as to compensate for lost stock market revenue. In addition a lot of companies won't insure in Ca.
Guest scott Posted March 21, 2003 Posted March 21, 2003 Mike, here are the insurance stats on my current bikes. All are insured through USAA, and coverage is 100/200/100 with $250 comp and $500 coll deductables. '00 FLHTC = $251/year '00 Triumph Sprint RS = $231/year '02 MG LeMans = $261/year Unfortunately, rates will be higher at your location (Bay Area). Also, to insure with USAA I believe you must be a past/present military member or have a parent who was past/present military.
al_roethlisberger Posted March 21, 2003 Posted March 21, 2003 I don't remember what I'm paying exactly, but I found State Farm to be the least expensive *by far* in my area, Nothern California. But I think a lot of it has to do with location, and how a company classifies a bike. With State Farm, they rate a bike simply by displacement, not by "class" so that can make a huge difference. Progressive, Allstate, and some MC specific underwriters wanted exhorbitant rates for the Guzzi and when I was shopping around for a Yamaha FZ-1(Fazer 1000)... something like $1100 to $1500 a year! Crazy. I think I pay something like $600 a year for full coverage now, and if I didn't carry collision it would next to nuthin' al
Mike Stewart Posted March 27, 2003 Author Posted March 27, 2003 I just received my new policy from Formost. It has almost doubled to a whopping $800. a year. 46 years old, 20 years on a bike and with a spotless record. At least it is still less than Progressive. It would be cheaper to sell the Guzzi and buy an Aprilia Mille R. Needless to say, I will be calling every motorcycle insurance agency in America this week. Mike
Guest marcialc Posted March 27, 2003 Posted March 27, 2003 Mike, I'm paying $454.80/year w/ $350.00 deduc. 15/30/5 with Pacific Realty Insurance Company. They didn't have a listing for the scura, so they have it listed as a V11Lemans I have had one claim with them, and they're response time and service was pretty good. If you're interested contact Rick Parsons @ 916-965-6000
Guest Brian Robson Posted March 30, 2003 Posted March 30, 2003 Here in BC, Canada, full coverage on a 2002 LeMans, (I have a clean license and qualify for 40% discount) is $1500, or $50 US!!!
jrt Posted March 31, 2003 Posted March 31, 2003 Boy, the Canadian dollar has sure taken a nose dive! I pay $145 a year for my 2001 V11 sport, comprehensive, $500 deductable. Whew, I was worried after reading some of the reports above. Cheers, Jason
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