Multiple Bike Insurance

[GoldOxide_imp]

For those who may have multiple rides that include collectibles that don't see a lot of annual mileage, I found out that my insurance coverage will provide significant discount if those vehicles are ridden less than 1500 kms per year. The primary bike will also get a small discount, but because it is likely to be ridden at normal mileage rates, it will be the higher premium.

If you have a scooter as a second bike, it is typically dirt cheap to insure not only because of engine displacement and rider statistics, but many are ridden locally and accumulate lower mileage. I would argue that low mileage in urban settings is higher risk compared to touring mileage.

Lastly, to further save on premium, my insurance company suggested enabling a GPS to monitor my riding habits. They claim up to 25% can be saved on the premium. Wouldn't that make for mind-numbing enjoyment?

[peterbaron]

Hmmm.....
That 25% promised discount requires reading small print and hiring a lawyer...
When called my insurance (GTA/Ontario) about adding another CB1100, I was told: present premium x 2 = two bike insurance.
I already have 20-25% discount for multiple insurance under one roof (CB, 2 cars and a house) and not submitting claims.
Also, we have to pay for an uninsured driver/rider = rip off

[GoldOxide_imp]

Hmmm.....
That 25% promised discount requires reading small print and hiring a lawyer...
When called my insurance (GTA/Ontario) about adding another CB1100, I was told: present premium x 2 = two bike insurance.
I already have 20-25% discount for multiple insurance under one roof (CB, 2 cars and a house) and not submitting claims.
Also, we have to pay for an uninsured driver/rider = rip off

That is suspicious indeed. I spoke to my insurer who has all our plans. They seem to sell the idea that the group discount applies to the other account items (e.g. house , car ... ). So I had a firm discussion about that and they tweaked the vehicles a dollar here, a dollar there ... pretty insulting really. The GPS tracking discount is fine for daily caging since such vehicles are a pretty rote experience (no sports cars here). But for motorcycles? I wonder how many riders, especially younger riders, go for that?

[Obleo]

I have geico insurance on 3 bikes and 1 scooter 04 Road King 07 Honda 919 ,2013 cb1100 and a Yamaha Zuma full coverage on all 3, $300.00 a year ,multiple bike discount.

[decarmine_imp]

Here's a repeat of my post (pretty detailed) from about three months ago

Because there are so many variables when insuring a vehicle, here's a detailed list of my insurance through Allstate in a semi-rural county in Florida:

1997 Kawasaki VN800
2014 Honda CB1100
2016 Honda Fury

Identical insurance on all three...
Liability: Bodily injury - 100,000 each person, 300,000 each accident
Property damage -- 100,000 each accident
Collision insurance -- Actual Cash Value with 500 deductible
Comprehensive -- Actual Cash Value with 250 deductible
Optional or added equipment -- 1,000

I do *not* have any other insurance with Allstate -- no cars, no house. This is only my second (maybe third) year with Allstate
Only discount is "full pay" rather than monthly or quarterly payments.
TOTAL for all three (policy runs 11/22/2018 --> 11/22/2019) $281.28

COLLISION and COMPREHENSIVE is the major part of that: $176.37.
LIABILITY is $102.01
Honda Fury has TOWING for $2.90 -- no idea why I did that!

Frank

[KiowaEagle_imp]

Wow! That's cheap. I have full coverage on my '14 CB1100 and just liability on my '92 Kawa Zephyr 750 and I'm paying $500 a year.

[GoldOxide_imp]

Hmm, from this perspective the previous three all look cheap. I do know the norm for me is to have $1M and $2M liability coverage depending on vehicle. For some vehicles, equivalent-to-replace is the coverage, not market value. We also live in a region of about eight million people. Anyway, great premiums y'all.

[rboe]

The real test, how the insurance company treats you when you need them. Many are way to eager to take your money, not so eager to help when you need to use the coverage you bought.

[GoldOxide_imp]

As with many, we hope to never need to find out.

But therein lies the snake oil, eh?

- - -

" ... your house is covered for flooding. Oh sorry, not that type of flooding ... "

[Charlie Bravo_imp]

I insure three bikes; a BMW R1100RT, an Aprilia Shiver 750, and the CB with Geico. Pretty happy with it, no complaints, anyway.