An insurance question for multiple bike owners

[CLAY]

Do you insure them any differently?  I currently have four on the roll- the Bandit, the XR650, the yellow XS650 Tracker, and now a '75 CB200T.  They aren't a ton to insure, but the CB200 is currently $16 a month, which is just an added irritation.   I mean I can only ride one at a time. I've been contemplating keeping the Bandit always insured then rotating between the others during various months.  It just adds up.

I'm using State Farm, but getting ready to shop a bit if I need to.  

So multiple bike owners- what do you do?

[sleazy rider]

When i had three on my policy, I just ran them all concurrently.  Iirc,  all three ran me  under $600 a year thru Progressive.  Bmw Gs full coverage, Daytona and Xr were at minimums.

[Cablebandit]

$16.00 per year sounds more reasonable for the CB200T.  


I'd be calling around if I was you.  I only pay a little more than what you're paying  on that, close to 40 year old bike, for a 2010 C14.  

[ssmith]

Removing one bike from the policy can affect the multi-bike discount and raise the premium for the other bikes.  I tend to keep the same coverage, and never carry the minimum - especially uninsured/underinsured.

[caasland]

IIRC state farm does not have a multi-bike discount, only multi-car and multi-line.

I insure our bikes the same - full coverage, all the time. Going to a lessor policy doesn't save us much so I didn't see the point.

[iXXion]

I hire Progressive for bike insurance.  I get a multi-bike discount, but they also insist I have to carry the same level of coverage on each one.  I carry lots of insurance including passenger protection, and it irks me to pay for that coverage on bikes I don't need it on, like a little enduro.  They get you one way or another.

[kyzrex]

I hire Progressive for bike insurance.  I get a multi-bike discount, but they also insist I have to carry the same level of coverage on each one.  I carry lots of insurance including passenger protection, and it irks me to pay for that coverage on bikes I don't need it on, like a little enduro.  They get you one way or another.

You might want to re-check that.  I have Progressive as well, on multiple bikes.  I have the same coverage on 2 of them, but do not carry full coverage on my 800 dollar scooter.  I do my MC coverage through an independent insurance agency.  I have been very happy as their customer for several years.  I think that it would be to much of a hassle to change coverage based on different bikes, different times of the year.

[wibornz]

In Michigan, the fee to the State of Michigan to have motorcyle insurance is often more than the cost of the insurance for the bike.

In my case the Ninja 650r full coverage price is 286 dollars.  Of that 286, 149 of it is the fee to the State of Michigan.

The C14 insurance is 328 dollars and you guessed it 149 of that is the fee to the State of Michigan.

When I had the KLR on the insurance, it was 201 dollars and wait for it.... 149 for the fee.  The fee to have insurance was almost three times the cost of the insurance.  

  

[scottzilla]

I insure my 3 bikes all year and get a multi vehicle discount.  The only bike I do not have full coverage on is the KLR because, I mean...are you serious?  

[bomber]

I insure my 3 bikes all year and get a multi vehicle discount.  The only bike I do not have full coverage on is the KLR because, I mean...are you serious?  

^this

Also, call an indie agent, offer him ALL your insurance business, and watch the quote come in  . . . . . rolling insurance from one bike to another would just add one more task to household management, and I'm simply not interested enough to save 30/40 bux a year.

[black hills]

I insure them all the same, except the 300 which isn't street legal. I've had good luck with State Farm. Added my 15 year old daughter last week for $25/mo.!!??!!? I couldn't believe it!

[bikefreak47]

Thirteen bikes insured through Geico. 100/300 liability only. About $60.00 to 75.00 per bike per year.

[RedCBRRider]

I have all my stuff insured with State Farm, and get the multi vehicle discount.  It doesn't matter to them if it is a bike or a car.  Still counts as a vehicle.  In my state (WI) State Farm does not play that on again off again insurance thing with the bikes anymore.  It's for the whole year, so you may want to check into that a little more.

[caasland]

In Michigan, the fee to the State of Michigan to have motorcyle insurance is often more than the cost of the insurance for the bike.

In my case the Ninja 650r full coverage price is 286 dollars.  Of that 286, 149 of it is the fee to the State of Michigan.

The C14 insurance is 328 dollars and you guessed it 149 of that is the fee to the State of Michigan.

When I had the KLR on the insurance, it was 201 dollars and wait for it.... 149 for the fee.  The fee to have insurance was almost three times the cost of the insurance.  

  

Did I understand this correctly? Michigan charges you a $149 fee to have insurance ?!?!? what's the logic behind that? How does insuring your bike cost the state money?

[Carbonero]

Do you insure them any differently?  I currently have four on the roll- the Bandit, the XR650, the yellow XS650 Tracker, and now a '75 CB200T.  They aren't a ton to insure, but the CB200 is currently $16 a month, which is just an added irritation.   I mean I can only ride one at a time. I've been contemplating keeping the Bandit always insured then rotating between the others during various months.  It just adds up.

I'm using State Farm, but getting ready to shop a bit if I need to.  

So multiple bike owners- what do you do?

If you're going to swap out, go with a dedicated motorcycle insurer like Dairyland or something. They'll understand the need for temporary/part-time insurance, and will price accordingly.

State Farm will just suspend your existing full-boat and reinstate it, and I've never had that go correctly.  

[dietDrThunder]

Do shop around...prices vary wildly from state to state. I went to State Farm when I moved to TN because commom wisdom then was that if you have a good record, sport bikes are cheapest there. That might be true in other places, but here State Farm was raping me. I went to Farm Bureau for all of my insurance, and my total cost of insurance (2 bikes, 3 cars, an RV and the house, at that time) went down by a little over 35%

[expatbrit]

^this

Also, call an indie agent, offer him ALL your insurance business, and watch the quote come in  . . . . . rolling insurance from one bike to another would just add one more task to household management, and I'm simply not interested enough to save 30/40 bux a year.

In the same boat, though I do carry full on the WR, since it's $6/no, and not carrying it was maybe $3/mo or something. I ride them both, often on the same day, so no point in flipping it.

I don't, however, carry uninsured on both. That adds a shedload here in NM, and it stacks; I have it on the car, and one bike, and can stack those and use them both on one bike and that seems sufficient.

[Tejasbusa]

I use Allstate for my home and auto.  Since the kids are no longer on the auto it is very cheap.  I use the USAA MC program which is underwritten by Progressive.  They are pretty reasonable in my opinion.  I am charged under $450.00 a year for full coverage on my daughters Ninjette which she keeps outside at college (that is why the full coverage, theft possibility) and the Busa and two DR650's.  $279 for Miss Bussa, $35 for the first DR and $31 for the second ( ) and $99.00 for the Ninjette.  Allstate wanted way over a grand a year for the same coverage.

[toma nova]

I use the USAA MC program which is underwritten by Progressive.  They are pretty reasonable in my opinion.

I had full coverage with USAA on the V-Strom for about $350 a year.  When I added the KLX250 (minimum coverage), my premium went down $10 a year!  Not sure how that works, but I'm thinking about adding another bike just for the insurance savings!!!

Tom

[greidel]

I have Progressive for my bikes, and Erie for everything else. I like Progressive because I can fine tune my coverage online until the cost is acceptable. I have a Versys and a Vespa 300 Super; the total is less than $500/year.

I wouldn't drop insurance on a bike because in PA you are supposed to turn in your plates if you drop insurance. I had a tiny scooter that was insured even when it wasn't inspected. The $ wasn't worth the hassle of starting and stopping coverage.

I used to have State Farm, and I imagine your experience with them varies with your agent. My agent was useless when I needed him; all he ever wanted was to sell me more coverage. When I asked for a quote on moving my Versys to State Farm he quoted me a high price and tried to talk me UP from there! When he actually said, "People die every day on motorcycles", I decided to take away all my business. When I called Progressive and told them I bought another motorcycle, their first words were, "How exciting for you!" That's the attitude I was looking for.