PDX Insurance classification and rates on Vee???

[mirage]

I just got my insurance rates for adding my newly aquired DL1000K3 and noticed that they classify it under Sport/Touring, and that suprised me since I expected it to be a Dual Sport.


What are others getting for rates on the Vee (DL1000) in PDX (since rates are state regulated) for ticket free, accident free riders?

Foremost is comming in @ $568 w/ $500K Liability, $500K Uninsured motorist, $500 collision deductable.

How does this compare with other Vee owners locally?

Mirage...

[awd505]

Through Farmers Ins. I am paying $228 per year. $500/$500 on my '03 1K. My Policy doesn't have the classification.

[nvr2old]

My Wee with that coverage is $157 through AARP. i'm in King Co. (Same as Seattle).

[Ewchimp]

State Farm with same coverage on a 650 runs me around $200 a year.

[mirage]

I really cant compare rates to Wee's (650s) or states outside Oregon, since they are state regulated.

I know there are feloow PDXers on this NW forum...speakup and account for your selves ;)

Mirage...

[Mountaintime05]

Foremost is Farmer's high risk company. The Strom wasn't listed as a Farmer's classified bike when I insured mine. My agent called the underwriters and got it classified as a dual sport. You might try the same thing.

Costs me just over $200 for lots and lots of coverage.

[mirage]

Foremost is Farmer's high risk company. The Strom wasn't listed as a Farmer's classified bike when I insured mine. My agent called the underwriters and got it classified as a dual sport. You might try the same thing.

Costs me just over $200 for lots and lots of coverage.

Cool, that's what I was looking for. I'm with Foremost as well for my other bike, but my agent said the underwriter insisted it was a sport/touring bike, not dual sport.

I've provided info to my agent about the bike that I could find that would lend credance to the dual sport classification, but Suzuki does not seem to give it a clear and distinct category.

I'll find out this week if the info I passed on will be enough to get the classification changed.

$568 was a bit much to swallow after the $178 on my 750cc cruiser.

Mirage...

[andyb]

State Farm hits me for $315 for 300K across the board. aarp quoted me $937 for the same coverage.

[Berserker]

$202 per year. PM slopoke he's an Amfam agent.

[mirage]

$202 per year. PM slopoke he's an Amfam agent.

PM sent, thanks for the reference.

Mirage...

[SloPoke]

Hey Mirage,

I am an American Family Agent and here is what I have on my 2006 DL650. I know you have the 1000, which would be almost identical to the rates for the same coverages listed below. Am Fam classifies the V-Strom as a “road/street” bike rather than “dual sport.”

250/500K Bodily Injury / Liability

100K Property Damage / Liability

$1,000 Medical

250/500K Uninsured/Underinsured Motorist

250/500K Guest Passenger Coverage

Collision - $1,000 Deductible

Comprehensive - $250 Deductible

Extended Accessory Coverage up to $3500

Premium is $228 per year


It can be difficult to compare apples-to-apples when comparing company to company because they all do it just a little bit different. When it comes to determining rates for operators there are many factors that insurance companies use– age, gender, zip code, years of experience, marital status, driving record (3 year history), claims history, vehicle use (commute vs pleasure use), class of vehicle, type of vehicle, miles driven, year of the vehicle, accessories, limits of coverage, deductibles, various types of discounts, etc.

FYI - HD’s actually have a surcharge because they are so expensive to repair and replace.

I hope this overview was helpful. I am happy to answer any questions you might have.

My cell is five-o-three – 936-5070. We will have to hook up for a ride sometime.

Ric Martin
AKA SloPoke

1998 Valkyrie Tourer
2006 DL650

[mirage]

Thanks Ric,

I haven't called yet, but it looks like my coverage #s are about 2x what you have so that could account for the higher premium.

I'm working with my agent and the underwriter to reclassify as "Road/Street" like you have, instead of "sport/tourer".

As you're PM mentioned the need to cover not just my bike, but also home/car/other with them, I'm just not ready to make that switch right now.

If only USAA offered Motorcycle Ins. directly instead of through Progressive. :(

Mirage...

[SloPoke]

Hey there...

Well, you dont exactly have 2x the coverage...you likey have 500/500 rather than 250/500...that would generate a small price difference but not $200 + for the policy. If the quote does not include at least 2-3 discounts, that could easily be the difference. Then there is the classification of the bike issue...that can make a BIG difference in pricing. The VIN of the bike should generate the correct class in their system.

I am confused... I thought you were talking with Foremost...Farmers high-risk company? Then you mentioned USAA and Progressive.

If you have USAA for your car and home KEEP IT! They are one of the best Ins Co's around. If they Broker out to Progressive for MC Ins then see what they quote you for the coverage you want...then call Progressive yourself and get the same quote directly to see if there is a markup.

I had Progressive before and they did an "OK" job with both coverage and price. Am Fam gave me better coverage for the price so I switched to my own company...following quality first, price second. I had Dairlyland in the past as well and they did a good job.

If you are just shopping for price there are cheaper options than what you have been quoted. Bikeline is one good online Ins Co.

The moment of truth comes if and when you ever have a claim and who are you dealing with...your local agent or an 800 number. There are good and bad stories with every company...

I would be interested to know what you end up doing.

Happy Trails,
Ric

[Redne Dab]

Can someone help me understand something? Why such high coverage? I have $400,000 homeowners and my agent thinks I'm wasting money.

On my bike I've got:
Liability: 50k
Property 25k
Un or under insured 50k
Comprehensive 500k
Collision 1000k

Am I missing something?

Thanks,

Brad

Oh, by the way... At these rates, Progressive will insure my Strom & KLR for $442 annually.