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Author Topic: What Are Competitive Insurance Rates These Days?  (Read 4586 times)

yodaismycopilot

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What Are Competitive Insurance Rates These Days?
« on: October 20, 2016, 11:23:08 PM »
Dear Kymco Forum Members,

I have no riding experience other than in the MSF Course that I completed and passed a couple of months ago here in California. I have a perfect auto driving record for the last 5 years and am over 25 yrs. old. I was interested in a used 2007 Kymco People 150 so I plugged my data into the Progressive Insurance company's estimator a couple of days ago. Liability coverage only. Based upon the blogs I have read, I was expecting an estimate in the $100 - $200 range. It came back $678. This seems wrong somehow. I am hoping to find out what folks are finding in the insurance market these days so I can make an informed decision. At that rate I may not even choose to purchase a bike. $678 seems more like what I would have expected for a Ninja 600 or something. THANKS so much for any sage advice!!

Disclaimer: I did opt for higher than minimum $$ liability coverage. I went with $250,000 person/$500,000 accident/$100,000 property damage. Also just got an online quote from Geico for minimum liability for $337. I may be comparing apples and oranges here. $337 still seems high. UPDATE: recalculated estimate from Progressive with minimum coverage and got $475/yr.
« Last Edit: October 20, 2016, 11:39:17 PM by yodaismycopilot »
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Mr. Paul

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Re: What Are Competitive Insurance Rates These Days?
« Reply #1 on: October 20, 2016, 11:34:18 PM »
That has got to be incorrect!  :o  I am a good deal older than you, but the insurance on my Kymco People 150 is 10 bucks a month! IMHO it should not be that high for you. Try to contact an agent and see what they come up with. Let us know.
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yodaismycopilot

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Re: What Are Competitive Insurance Rates These Days?
« Reply #2 on: October 20, 2016, 11:45:45 PM »
Quote from: Mr. Paul on October 20, 2016, 11:34:18 PM
That has got to be incorrect!  :o  I am a good deal older than you, but the insurance on my Kymco People 150 is 10 bucks a month! IMHO it should not be that high for you. Try to contact an agent and see what they come up with. Let us know.

Thanks for your reply. I'm 59. I just recalculated on Progressive with minimum coverage and am now getting $334. I wonder if it's because I just got my license and have no riding experience?
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tortoise

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Re: What Are Competitive Insurance Rates These Days?
« Reply #3 on: October 20, 2016, 11:49:51 PM »
Include Foremost in your research.
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yodaismycopilot

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Re: What Are Competitive Insurance Rates These Days?
« Reply #4 on: October 20, 2016, 11:57:19 PM »
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yodaismycopilot

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Re: What Are Competitive Insurance Rates These Days?
« Reply #5 on: October 21, 2016, 12:07:16 AM »
Quote from: tortoise on October 20, 2016, 11:49:51 PM
Include Foremost in your research.

Thanks! Just did their online estimate. Their site looks a bit different. No quote on the screen. It is going to be emailed. It's not in my inbox yet.
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big blue

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Re: What Are Competitive Insurance Rates These Days?
« Reply #6 on: October 21, 2016, 02:48:55 AM »
I live in Oregon. I am 70 years with good driving record and MSF course. Geico insurance with full coverage for a full year is $104 dollars. 
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2012 Kymco Like 200i LX (Sold)  Salem, Oregon USA

yodaismycopilot

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Re: What Are Competitive Insurance Rates These Days?
« Reply #7 on: October 21, 2016, 06:30:59 AM »
Quote from: big blue on October 21, 2016, 02:48:55 AM
I live in Oregon. I am 70 years with good driving record and MSF course. Geico insurance with full coverage for a full year is $104 dollars.

May I ask how long you've possessed a motorcycle license and for what vehicle you are insuring? And, by full coverage do you mean collision? Thank you.
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Mr. Paul

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Re: What Are Competitive Insurance Rates These Days?
« Reply #8 on: October 21, 2016, 12:24:06 PM »
"Thanks for your reply. I'm 59. I just recalculated on Progressive with minimum coverage and am now getting $334. I wonder if it's because I just got my license and have no riding experience?"

Experience on the scooter had no effect on my rate. Sounds like Geico is just too high. For what its worth, I have mine through Auto-Owners. BTW, I am 57. I have liability only. I have a Honda Helix and a Kymco People 150. Each one are 10 bucks a month for me.
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ScooterLar

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Re: What Are Competitive Insurance Rates These Days?
« Reply #9 on: October 21, 2016, 12:30:59 PM »
Rates are also affected by what state you live in. In NJ, I have Rider Insurance and they deal only with motorcycle policies, so their rates are generally better than the big box insurance companies.
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CROSSBOLT

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Re: What Are Competitive Insurance Rates These Days?
« Reply #10 on: October 21, 2016, 01:01:02 PM »
Check with State Farm, Allstate or any other mutual company. Progressive is not a mutual insurance company and their rates will always be higher. All they have is Flo. We have Allstate and pay about $350 a year for two 300cc scoots. We are 76 and 69 respectively.

Karl
 
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Karl

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Snorvey

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Re: What Are Competitive Insurance Rates These Days?
« Reply #11 on: October 21, 2016, 03:23:13 PM »
Interesting to hear what other folks are paying throughout the world (well, Norh America anyway)

Here in the UK, I pay eighty four pounds Sterling a year ($102) for fully comprehensive cover. I'm 48 and have been riding for 30 years.

Forgot to mention - Kymco Downtown 300i 2013.
« Last Edit: October 21, 2016, 03:24:51 PM by Snorvey »
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TroutBum

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Re: What Are Competitive Insurance Rates These Days?
« Reply #12 on: October 21, 2016, 04:07:35 PM »
Quote from: yodaismycopilot on October 20, 2016, 11:57:19 PM
Just got a quote from a company I've never heard of called "Dairyland." $183/yr.

https://www.dairylandinsurance.com/landing-Pages/Motorcycle-Countrywide?gclid=CjwKEAjw1qHABRDU9qaXs4rtiS0SJADNzJis7Uyy87rY8LYOroMmJoV3pNe4yYhxGW4UZTmNXyODOhoCFxnw_wcB

Stay away from them. Really bad ratings. My wife had to deal with them when one of their insured hit her. It took two months before they would have her car fixed and give her a rental. They never return calls. They make empty promises. They even tried to have my wife take pictures of the accident damage of both cars expecting her to contact the guilty party. You be wise to stay clear of them.
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randyo

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Re: What Are Competitive Insurance Rates These Days?
« Reply #13 on: October 21, 2016, 09:01:41 PM »
comparing insurance premiums on internet forums is a futile wasted effort, state laws are different, every zip code has a different risk associated with it

in my rural area, full coverage 250k/500k/100k liability, same coverage on UM, 10k med payments, ACV on comprehensive and $100 ded on collision on a 1000cc motorcycle is less than $200/year, someone with the same driving record 50 miles away in a metropolitan area will pay 10 times as much
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RandyO
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yodaismycopilot

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Re: What Are Competitive Insurance Rates These Days?
« Reply #14 on: October 21, 2016, 11:23:34 PM »
Quote from: tortoise on October 20, 2016, 11:49:51 PM
Include Foremost in your research.

Thanks. The email finally came in with a quote of $191 for minimum coverage.
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