Ridiculous insurance quote!

check with Markel Bikeline ins. very reasonable, and has roadside assistance.
My insurance afull dress 85 K100 BMW with motorvation FII SC,
costs $around $120 a year for $12,000 coverage on the bike and SC.

http://www.markelinsuresfun.com/Motorcycle/

Bob,
Just spoke with Markel. They want $350 per yr without Uninsured Motorist Coverage & $700 per yr with it.
Value of the Guzzi (according to NADA) is only $1250 and $4000 including the sidecar!
I think the true value is quite a bit more and said so. They're sending me an appraisal form to submit with photos to get additional value for the rig. No doubt this will wind up costing more.
Howard
'74 Moto Guzzi & '72 Velorex 560

Keep in mind that prices vary greatly based on location alone. Bob and I both live in Wisconsin which is blessed with reasonable rates. I have a friend in Dallas with about the same driving record, age, bike value, etc. who is paying almost ten times what I pay for identical coverage from the same company.

Mike,
I know what you mean about how some areas are much more expensive for insurance. If I lived an hour away in Sacramento or San Francisco I'd expect to pay a lot more than living where I am now.
What I find most curious is why a vintage motorcycle is much more expensive to insure than a vintage auto and why some companies won't cover a sidecar.
I would assume that there's less risk in insuring a 30+ year old rig that spends most of the time indoors as compared to a late model bike that's driven daily.
Howard

I pay well under $100 a year for bare bones "State Endored Extortion", the sidecar had no effect on my rate when it was added. I am with Farmers, which means Foremost if my memmory is correct. I'm 62 no tickets 30 years-no accidents 35 years. I have all my ins. with them and get all the discounts, multi. car, age, clean record, home, etc. I live in SE Arizona, small town pop. just over 4000, but we are only 60 miles from the border. I do pay more than I did in Colorado but that is a 4 season state and Az. is not.

I'm paying 80 dollars a year for insurance on my XS1100 with sidecar. Just liability, legal minimum. Living in South Dakota has its perks.

Originally written by Lunatic on 5/13/2008 5:45 PM

I'm paying 80 dollars a year for insurance on my XS1100 with sidecar. Just liability, legal minimum. Living in South Dakota has its perks.

I've been with Progressive, except for a one year mistake, since 1968. That one year mistake was when we changed to Geico to save money, then three months later they more than doubled the rate, citing an error in the original quote.
One interesting thing with Progressive. I had an at fault accident with the Valkyrie three years ago. They raised the rate on my car insurance but left the bike insurance alone.

Before we bought the house here on the lake, we were about 40 miles west of here, on the Minnesota/Wisconsin border. At that time our insurance was quite a bit higher. The agent told us that was because the largest city in a 25 mile radius was in Minnesota, a "No Fault" state. $175 per year.

I was talking with another Farmers agent (or Foremost) and I got a different set of numbers. The value of the bike is a declared value of $11,000 which includes the s/c etc. There's a $250 deductible and full coverage,250/500k, including uninsured motorist for $740 per yr.
Progressive Insurance quote was $1400 for the same coverage.
A friend who lives 10 miles away pays between $50-$100 per yr on each of his bikes through GMAC but has basic coverage.
I heard that by registering it with DMV as a classic vehicle I will only pay once and get additional insurance discounts. Anyone know anything about this?
Howard

Each state will be different, but read the fine print. Here in Wisconsin, if you do that you will need to have another vehicle registered for daily transportation and will not be allowed to ride it in January. When we lived in Minnesota they were much stricter, i.e.
Minnesota Satute 168.105 CLASSIC MOTORCYCLE REGISTRATION
"A "classic motorcycle" is a motorcycle that is at least 20 years old,
original in appearance, and owned solely as a collector's item and used in a classic motorcycle club activity, exhibition, tour, parade, or similar use. A classic motorcycle may not be used for general transportation purposes." I had a friend in Rochester who was fined because a cop saw his Harley (with antique plate) parked at the factory where he worked. The fact that his car was in the shop didn't save him a ticket. Check with the DMV in your state.

Ouch. I just changed from Progressive to Formeost though AARP. I cut my insurance by 50%. We pay $295 total. This covers 5 bikes. 99 BMW1200LT 99 F650 73 and 72 /5 and a 88 Honda Shadow. The two newer bikes have full coverage. I live in Northern Illinois. I just changed to Formost this year so we shall see how they do. Progressive was a pain to deal with in my experience. 57 years old and a good driving record for both cars and bikes.

Ouch! I insure both my BMW's with Geico. All our other insurances are with USAA. My K1200LT with a KLT sidecar is valued at $16,000 and my K1100LT is valued at $5,000. I paid in my November roll-over for 1 year with 100,000/300,000 and UIM/UM and 100 dollar deductible comprehensive and collision, $487 dollars for the year. And, that is up considerable dollars from the previous year! I would be considered an excellent risk (knock on wood). I called Progressive but they were quoting near $600 dollars for nearly the same insurance so I continue to stay with Geico. I am 67 years old and began riding in the 50's but was off many years too.

we have it a little different up here,..I pay $650.00 a year for PL/PD coverage ( public damage/liability coverage)... then ad $4.00 a year extra to cover the value of the sidecar, ($4000.00 value)..car is considered an expensive accessory,.fire and thieft was another $150.00 if I wished it. '02 marauder/caliF1 car..... classic cars and such have simular restictions to your various states, not to work and such....fyi. crawf.

What about getting 'Uninsured Motorists" coverage?
I have it now for 250/500 and it adds $120 per year.
I've got health plan coverage, so do I need it?
Howard

Originally written by gilberth on 5/14/2008 10:11 AM

What about getting 'Uninsured Motorists" coverage?
I have it now for 250/500 and it adds $120 per year.
I've got health plan coverage, so do I need it?
Howard

That probably depends on whether you plan on getting into an accident with someone who isn't insured (and that usually means they don't have assets to go after either).

Just ot add to the confusion, I was insured by GEICO for more than 20 years after getting my driver's license and never had a claim against them. But after getting two speeding tickets within a three year period, they cancelled my insurance coverage and I had to go to a high risk policy. GEICO likes to advertise low rates, but they cancel your insurance in a heartbeat.

My Harley dealer had me contact Progressive for the best rates and they charge about $350 a year for the Ultra and about $200 a year was later added when I got the sidecar installed. I've not had a claim to deal with, but they've been helpful on the phone every time I call with a question.

I live in the Washington DC region, so our rates are not as low as those in less populated areas. But I'm certainly not paying the rates that some are being charged for "Classic" bikes.

Steve Kaeser
2006 XL1200c
2008 Ultra Classic w/Sidecar