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Insurance premium ... that was odd.

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mitchntx

mitchntx

Follower of Rev. Doug
Joined
Jun 11, 2006
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Location
Whitney
First Name
Mitch
Last Name
Warren
On the policy ...

2016 1290 full coverage
2009 XR650L liability
2012 XR650L liability
1982 CB750 full coverage with agreed upon value.

09 sold and replaced it with a 2015 KTM 500 EXC with full coverage.

The policy went down.

Nothing on my driving record changed

Could it be moving from a 650 to a 500 cc bike put me in a different category?
 
Multiple bike discount I'm guessing. I got it when I added a third bike and my rate got higher when I sold the bike and went back to two. I had them put it back on even though I didn't own the bike anymore.
 
I use progressive, the multi-bike goes bad after 4. When you add the fifth they give you a new policy. The new (to me) FZ1 made it go up $12.80 per year. I don't have comp and collision and I cancelled the Gixxer.
 
What ever you do, dont ask them about it!

Sent from my SM-G965U using Tapatalk
 
Mitch...... It could be due to the "smaller" bike not being able to inflict as much damage? It all has to do with statistics. Maybe more claims on KLRs vs EXCs, per whatever they use as a standard?
 
Probably don't really have a lot of claims on the KTM so probably rated pretty low in risk table.

My guess is that a XR650 will be ridden on the road a lot more than a 500 EXC. Since liability is more of a road thing there might be some risk that they see there.

In reality, full coverage on the KTM should be much more risk than liability on the XR.
 
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You would think an xrl would be dirt cheap

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mitchntx said:
On the policy ...

2016 1290 full coverage
2009 XR650L liability
2012 XR650L liability
1982 CB750 full coverage with agreed upon value.

09 sold and replaced it with a 2015 KTM 500 EXC with full coverage.

The policy went down.

Nothing on my driving record changed

Could it be moving from a 650 to a 500 cc bike put me in a different category?
Click to expand...

I'm sure it is the lower CC rating. They usually have price breaks under 600, under 900, and then it also depends on the bike classification.

When I was with Geico and had my 919 they wanted almost 1500 bucks a year, progressive only wanted around 550 (full coverage). I tried at length to get Geico to understand it was not the CB900RR 919 but their classification just had the bike pinned down as a super sport (well, technically they were right because it was fast as ****, lol). I switched to Progressive on all my insurance because of that in fact. I have yet to regret it, and right now I have only two bikes insured but about to have the Hawk running again so we'll see if it goes up, down, or stays the same when I had it.

:rider:
 
rpcraft said:
I'm sure it is the lower CC rating. They usually have price breaks under 600, under 900, and then it also depends on the bike classification.

:rider:
Click to expand...

I seem to recall years ago having a 1L bike and when asked the displacement said 995cc. Premium went down.

I suspected that be the deal here.

Coverage, as outlined above, is a tick over $400/year.

I wanted comprehensive only on the 500 ... mainly coverage for theft and acts of God. But it couldn't insure that way.
As I understand it, a vehicle registered for street use isn't covered under contents of the home owner's policy if a tornado hits the shop it's stored in.
 
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mitchntx said:
...I wanted comprehensive only on the 500 ... mainly coverage for theft and acts of God. But it couldn't insure that way...
Click to expand...

Geico allows this. I actually even have more than a few bikes "in storage" with them. No liability coverage but Comprehensive insured. When I want to ride, one call brings Liability back and then call again to return bike to storage. You gotta be creative when you have 10 bikes insured to keep costs down. All on a single policy also.

_
 
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mitchntx said:
I seem to recall years ago having a 1L bike and when asked the displacement said 995cc. Premium went down.

I suspected that be the deal here.

Coverage, as outlined above, is a tick over $400/year.

I wanted comprehensive only on the 500 ... mainly coverage for theft and acts of God. But it couldn't insure that way.
As I understand it, a vehicle registered for street use isn't covered under contents of the home owner's policy if a tornado hits the shop it's stored in.
Click to expand...


I think it can be depending on its status, like if you have project bike that is unregistered it would only be for base replacement cost, because bike values never really go up until you have something like a class bargley shovelson.
 
Progressive couldn't explain to me why my car insurance went down $20 and my motorcycle insurance went up $10 after I completed an advanced safety course.

They ended up having to exclude it from my motorcycle policy to bring it back down to what I was paying before.
 
Insurance is like airline ticket pricing. Beyond comprehension. When i added a third bike my insurance went down. I've bought round trip tickets cheaper than a one way on the exact same flight. Go figure.
 
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