Triumph Rocket Insurance

Are there Insurance Agents out there that can share with us the reason for costs and breakdown those attributes that contribute to the gross variation of State Farm and Geico expense when all issues are equal?

<<GEICO @ 377$. $85 of which is Uninsured Motorists; and at this day in the age of the hordes driving illegally and without insurance I'm paying for it yet again.
The prinical cost difference is with greatly reduced overhead (no offcie space rentals in every township and holler, and hundreds upon hundreds of fewer agents). Isn't Warren Buffet wrapped up in GEICO or is it Progressive. If it weren't for TV advertising GEICO would be even cheaper; but, then how might you know about them without TV ads. GEICO isn't as accident foregiving as SF.
 
My bike insurance cost

FWIW:

Progressive takes $36 out of our checking account each month. It covers 1) full coverage with $200 deductible on all three bikes, 2) uninsured motorist, 3) covers an '05 r3, an '06 Honda spirit, and a '98 Sprint Executive ( NOTE: Dairyland called the Sprint a "****** rocket" and was WAAAY higher than my present insurance).

I keep reading in post how it cost more for the r3 because of its' displacement. But, I traded in a Speedmaster on the r3 and the insurance for the r3 was LESS than the Speedmaster. Go figure!
 
You guys have to remember that there are a lot of varibles on insurance, especially State laws. Coverage prices vary from state to state and are based on not only State statutes but your credit history, you driving record and how many objects the insurance company insures and the risk factor on those objects. That's why there are really no set rates and everyone is different. It always pays to shop for a carrier but you have to keep in mind what your wallet can bear in deductibles and the ACV in your loss payable clause as well as fringes like roadside assistance and med pay. One thing that rears it's ugly head from time to time is that your basic hospitalization policy that you have with your employer may not cover you if you are injured on a motorcycle. That's getting more common everyday. It pays to read the fine print on any insurance policy.
 
Everyone is forgetting that even though we are all insuring the same bike, we are not insuring the same bike. No I haven't lost my mind. My insurance (progressive) told me if I had bought a R111 standard my insurance would have been 8 times the price. My classic is insured as a "Cruiser" while the standard and tribal are considered sport bikes. This explaines IMO why the quotes are all over the board. I am not suprised that a 2300cc ****** rocket would have pricey insurance rate.
 
Everyone is forgetting that even though we are all insuring the same bike, we are not insuring the same bike. No I haven't lost my mind. My insurance (progressive) told me if I had bought a R111 standard my insurance would have been 8 times the price. My classic is insured as a "Cruiser" while the standard and tribal are considered sport bikes. This explaines IMO why the quotes are all over the board. I am not suprised that a 2300cc ****** rocket would have pricey insurance rate.

Is it just me or didn't I say somewhere in this thread that Progressive sucks? Gunshots, you need to contact Nationwide/Allied. They are licensed in Michigan and I chopped the Progressive rate by 30%. Same deductibles and a better ACV on the sidecar.
 
Are there Insurance Agents out there that can share with us the reason for costs and breakdown those attributes that contribute to the gross variation of State Farm and Geico expense when all issues are equal?


I underwrote for 4 years for a company that features cavemen in their commercials. I cannot tell you who, but it rhymes with Beico.

I can't tell you why State Farm and Geico differ, but I can tell you how Geico rates insureds.

Keep in mind this may no longer be the practice as I haven't worked there for about 10 years:

Geico first rates you on Job Code. People in trained positions with college degrees are placed in preferred and people who are in the service industry usually get slogged down into the Geico indemnity or Geico casualty companies. This occurs before ANY driving/accident history is taken into consideration. They also rate for ALL activity whether at fault or not. It's listed as an occurrence. While they cannot surcharge you for something not at fault, they can list it as an occurrence. That impacts you negatively and may move you down to a lower tier company withing Geico allowing them to charge you more at the base rate level.

Companies rate on # of insureds in the area, loss history for you, loss history for your particular vehicle, who resides in your house and doesn't currently have insurance, your age, marital status, credit rating, years licensed, vehicle symbol, accident history, and driving history.

One thing I learned one year was that Geico raised rates in FL one year because they had too much of the market segment. 1 out of every 3 people in Florida had Geico insurance.
Why raise rates for being #1? Because Geico people were having accidents with Geico people. No subrogation to recoup anything...just payouts for both parties.
 
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