skotyjones
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Registered: Apr 18, 2017 10:50:00 GMT -7
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Post by skotyjones on May 6, 2017 13:32:25 GMT -7
Just got off the phone with State Farm insurance Indiana (who I'm insured for my current bike), they were unable to locate the FZ-10 2016/2017 in their system. They gave me a ballpark of full coverage for FZ-09 $72.65/month and based off engine size for FZ-10 they gave me $138.42/month ballpark.
Anyone run into this issue with State Farm?
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osiris10012
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Registered: Apr 19, 2017 17:27:50 GMT -7
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Post by osiris10012 on May 6, 2017 17:13:14 GMT -7
I had the same issue with state farm in alaska. After they input all the info for the bike my monthly rate is $73 a month. They weren't sure when their system will actually show the fz10
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Post by evitzee on May 6, 2017 17:30:47 GMT -7
It takes awhile for new bikes to appear in the database the insurance companies use. Often bikes can be mischaracterized....like putting a 1000cc high performance engine in the cruiser class, or vice versa. Good idea to keep tabs on your rate......mistakes can happen.
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Deleted
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Registered: Nov 25, 2024 3:46:12 GMT -7
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Post by Deleted on May 6, 2017 18:56:27 GMT -7
I've been carrying State Farm on my bike since October in Iowa. $35/month Full Coverage. Pays to be old and slow. LOL
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mtntrails
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Post by mtntrails on May 7, 2017 4:13:10 GMT -7
Seems pretty common for State Farm. I just bought a 2017 DR-Z400SM that was not in the database.
Back when I owned a 2008 KTM 950 Super Enduro, they never did get that one in their database. Despite several attempts by my agent to fix it, they continued to list / classify it as a 2008 990 Adventure.
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skotyjones
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Post by skotyjones on May 7, 2017 7:52:21 GMT -7
I appreciate the information everyone, I'll talk to my agent and see if it can get a lower rate. Over $100/month seems quite bonkers in my eyes considering my 650 is less than half of what the estimate was.
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ovojay
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Registered: Apr 30, 2017 14:41:33 GMT -7
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Post by ovojay on May 8, 2017 20:42:23 GMT -7
Same here in IL. $61.25/month; $500 Deductible, 37, clean record. They could not find it, but essentially gave same rate as the BMS S1KR
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skotyjones
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Post by skotyjones on May 9, 2017 6:00:28 GMT -7
They finally gave me a quote (cheapest so far).
Full Coverage:
$500 Deductible - $138/month
$1k Deductible - $112/month
$2k Deductible - $83/month
32 years old, clean record. I still feel that it is outrageously high but maybe due to my age group and unmarried, no children, they consider me a higher risk?!
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osiris10012
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Post by osiris10012 on May 9, 2017 7:14:10 GMT -7
That does seem a bit high. The one thing that may be causing high rates is if you don't have much riding history. When I first got my gsxr600 full coverage was $400 a month due to no riding history. Depending on how long you have had you license could be causing higher rates.
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ovojay
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Post by ovojay on May 9, 2017 7:56:58 GMT -7
I know for the state of Illinois they claim all of their rates have gone up, impacted my BMW SUV as well. I am in the metro east of St. Louis, so right on the IL/MO border. However, State Farm has consistently always been the cheapest motorcycle insurer I could find. Farmers is close though ... I did have a motorcycle total loss claim in 2008 or 2009 for an '08 R6 ... track day incident lol, they covered it
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Deleted
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Registered: Nov 25, 2024 3:46:12 GMT -7
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Post by Deleted on May 9, 2017 8:04:36 GMT -7
They finally gave me a quote (cheapest so far). Full Coverage: $500 Deductible - $138/month $1k Deductible - $112/month $2k Deductible - $83/month 32 years old, clean record. I still feel that it is outrageously high but maybe due to my age group and unmarried, no children, they consider me a higher risk?! Hows Progressive for you? I'm with them, about $52/mo full coverage for the FZ10, $500 deductible. The FZ1 is like $70/year, liability only. 34, clean record, single. Progressive does offer a decent discount for paying for the entire term up front as opposed to a monthly payment. I always pay in full. I insure autos and home with them so I have multi-policy discount, 5-yr accident free discount, etc etc. It may be worth quoting your auto and bike as a package with your prospective insurers. A lower rate on your auto could offset a high rate on the bike. |
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Post by evitzee on May 9, 2017 9:00:46 GMT -7
^^^^^ Agree 100%. I have homeowners, 3 cars and bike with Progressive, no claims and pay in full and overall I'm very happy although I've never filed a claim with them and that is where the rubber meets the road. I've had other companies try to get me to change to their insurance and when I ask about the motorcycle the reply always is, "Progressive has the bike market locked up, stay with them for the bike as we can't beat their rates". Worth a few minutes on line or calling them to see what they can do for you. Maybe it will work or maybe not, the numbers you have from State Farm seem pretty pricey. Keep shopping.
Nice thing about Progressive is you can manage everything on line; add/delete vehicles, change coverage, pay bill, etc. You can also check what would happen to your rate if you change coverage or change bikes, handy if you are thinking of changing machines and want to know what the effect would be on your rate. When I was contemplating trading in the FZ1 for the FZ-10 I found out in a few minutes what the new rate would be (about $75/year higher) so there were no surprises when I actually went on the next day to replace the old bike with the new. |
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skotyjones
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Registered: Apr 18, 2017 10:50:00 GMT -7
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Post by skotyjones on May 9, 2017 9:44:11 GMT -7
They finally gave me a quote (cheapest so far). Full Coverage: $500 Deductible - $138/month $1k Deductible - $112/month $2k Deductible - $83/month 32 years old, clean record. I still feel that it is outrageously high but maybe due to my age group and unmarried, no children, they consider me a higher risk?! Hows Progressive for you? I'm with them, about $52/mo full coverage for the FZ10, $500 deductible. The FZ1 is like $70/year, liability only. 34, clean record, single. Progressive does offer a decent discount for paying for the entire term up front as opposed to a monthly payment. I always pay in full. I insure autos and home with them so I have multi-policy discount, 5-yr accident free discount, etc etc. It may be worth quoting your auto and bike as a package with your prospective insurers. A lower rate on your auto could offset a high rate on the bike. I gave Progressive a shot with multi policy. With Auto, Renters and Motorcycle it ended up being around $100 more overall comparing to my State Farm quotes. My motorcycle license history is short, only been licensed via BMV for one full year, which I know is killing my rates. I've considered keeping the Ninja 650 for another year and giving the FZ-10 a shot but I am unsure as to how much 1 more year will lower my premiums. |
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Post by evitzee on May 9, 2017 9:58:47 GMT -7
I suspect your age is more of a factor than experience. But I would have thought that at age 32 your rates would be coming down as you are past the age where a lot of riders crash through inexperience and testosterone fueled chance taking.
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skotyjones
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Post by skotyjones on May 9, 2017 10:24:23 GMT -7
I suspect your age is more of a factor than experience. But I would have thought that at age 32 your rates would be coming down as you are past the age where a lot of riders crash through inexperience and testosterone fueled chance taking. I am also curious what the main factors are. I reached out to my agent to see if they can provide a quote at a different age. The woe's of wanting high cost, high horsepower toys! |
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Post by arcaos84 on May 9, 2017 12:41:31 GMT -7
They finally gave me a quote (cheapest so far). Full Coverage: $500 Deductible - $138/month $1k Deductible - $112/month $2k Deductible - $83/month 32 years old, clean record. I still feel that it is outrageously high but maybe due to my age group and unmarried, no children, they consider me a higher risk?! I was quoted pretty much the same thing through my insurer, Allstate. I even have a multi-car/renters insurance policy through them... I've been with the same agent for 16+ years. They kept claiming it's because the engine size. The only break I see is for my truck which is less than half of what everywhere else quoted me. The usual rule of thumb, or relevance, for insurance company premiums is 5 years for at fault accidents/citations. Only thing in my past 5 years was that I was involved in was that I was at the end of a rear-ender chain (not my fault). So not sure what to say other than, I'm right there with ya. I am also a 32yo male. |
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sam07
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Post by sam07 on May 9, 2017 19:02:46 GMT -7
Wow those rates are crazy. That's probably what's keeping many people from upgrading. That's what prevented an R1 purchase when I was 20. Risk has everything to due with rates.
Progressive insurance with 500 deductable = $275 a year
Bikes, cars, and a house are all bundled and key factors.
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sam07
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Post by sam07 on May 9, 2017 19:06:04 GMT -7
I suspect your age is more of a factor than experience. But I would have thought that at age 32 your rates would be coming down as you are past the age where a lot of riders crash through inexperience and testosterone fueled chance taking. I am also curious what the main factors are. I reached out to my agent to see if they can provide a quote at a different age. The woe's of wanting high cost, high horsepower toys! Get married, buy a house, have a kid, get insurance on 2 cars and you too will be paying cheap for motorcycle insurance. Isn't the logic awesome! |
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Deleted
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Post by Deleted on May 12, 2017 3:29:45 GMT -7
I've been carrying State Farm on my bike since October in Iowa. $35/month Full Coverage. Pays to be old and slow. LOL Well I have to say I was wrong about what I pay a month. I paid my bill this morning and looked at the itemized bill. Between the Car, Renters and the bike, the bike is $26.41 a month.   
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