Multiple Bike Insurance

[bubblerboy64_imp]

I've noticed that I am not the only one afflicted with the MBS (Multiple Bike Syndrome) Which brings up the subject of insurance for all of them. Seems like I am paying way too much for insurance on my fleet of two wheelers. I carry comprehensive coverage on all of them and feel it's pretty important to have good coverage. Seems however that the insurance company (Progressive) is making out way too well considering that I can only ride one at a time. I end up putting sometimes less then a 1000 miles on each bike a year. Some more some less but the point being I'd like to pay a fair price for good coverage but seems like I deserve some consideration insuring 7 or 8 of them . A couple hundred bucks a year adds up when you have a bunch. And I know it's a terrible problem to have but just wandered if anyone has a better way to insure the multiple bikes. I don't owe anything on the bikes but they are all nice one's and I'd hate to drop to just liability (which of course would reduce the total $ Any thoughts or better yet experience with this.

[rboe]

Check with an independent agent to see if anyone offers a fleet option for you. I want to see fleet rates don't come into play until around ten bikes.

[the Ferret]

I've always had multiple bikes, and have full coverage ins on all of them. Unless your bikes are worth less than your deductible, it doesn't make a lot of sense to me to have just liability.

Ins is expensive, thats for sure. The alternative can be prohibitively expensive.

Wish i had an answer for you..and for myself as well.

[sanoke_imp]

I insure mine through Dairyland Cycle Insurance and they give me a multi-cycle discount. Might want to look them up.

[dBuster_imp]

I know a guy who has several bikes, and I wish I could remember what they were but anyhow he was talking about this at work one day where he only insures one at a time and when he wants to ride one of the others he calls it in to be added to his policy and the other one taken off. I thought what a pita but if he wants to do that all the power to him.

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[bubblerboy64_imp]

In Pa if you drop your insurance you are to turn in your license plate which would make it impossible to rotate from one to the next. What I did was to raise my deductible from 250 to 1000 which saved me about two hundred dollars a year maybe a little more on the "collection". Progressive gives you a decreasing deductible if you are accident free and if the policy remains in force. Not sure how long it would take but I did have the fellow go over all of the bikes and several that I had at 500 had already dropped to 250. I guess like anything else you get what you pay for. $1000 was they highest deductible they would write for. I would have gone higher had it been available. Mostly I am concerned about having good liability coverage. If a kid ran out in front of you and you had a serious problem of that nature it would eat up any amount of money you paid in your life time in a hurry. I have a personal liability policy which would come in over and above the vehicle insurance and I would suggest every one explore that as well. Not very expensive but it might save you in the event of a serious claim. It also applies to non vehicular liabilities as well. Add all the insurance costs to the taxes and it's a very significant percentage of income. Again not necessarily complaining just saying. Fellow told me an over night in a hospital can run $50,000 so I guess insurance ain't so bad. Hope I never need it and you others as well.

[Buffalorider_imp]

Before the CB I had a Yamaha R* and a BMW. All my insurance is thru All State. While I did not have comp on the bikes I had good liability, theft, ect.
I was amazed at how little the cost was. They wrote the policy on the CB, full coverage and again the cost was surprisingly low for increased coverage limits. I could add two more bikes and still not be near the cost of either of our cars or my truck.

[meowguy_imp]

Progressive is very expensive. I moved to State Farm for the same coverage at half the price. It's time you made a move I think.


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[bubblerboy64_imp]

You know I have State Farm for all of my cars, home and my motorhome. The reason I went with Progressive on the bikes is because I could do it over the phone and since I trade often that mattered. I found this out at Twiggs in MD. Couldn't take the bike without proof of insurance and state farm was unable to do this on a week end. Progressive and one other company would do it over the phone and on the spot. This may have changed it was a least a couple years ago.

As to price is there really a significant difference if you are comparing apples to apples?

If you watch TV at all EVERY insurance company is advertising cheaper rates. I am skeptical at the best. I do believe there deals to get a fellow to sign up but when the dust settles how much difference is there. Progressive claims they are the largest insurer of motorcycles. That true? If so why? And having been insured with Progressive and NOT had any claims I am getting a little better rate with them.

It's a muddy playing field for sure. A fellow probably should shop insurance every year if you are interested in the absolute best price. I tend to stay with known companies thinking (correctly or not that if I have a claim they might be better)

Pretty much like directv and dish. They'll give you a deal to sign on the line but from my experience having both it ends up the same down the road a piece.

Not saying I am correct necessarily just that I am skeptical of insurance and insurance deals especially.

[HikerToo_imp]

As some have said, not always apples to apples, policy below from Progressive is $548 a year.
I maxed out the bodily injury, and went total loss coverage on the CB, if its totaled.
I found this on my won, when I actually sat down with the insurance "expert" at the MC dealer, they could not come within a $100 of this price, even with the same company.
-------------------------
Policy coverages
Bodily Injury & Property Damage: $250,000 person/$500,000 accident/$100,000 property damage
Uninsured/ Underinsured Motorist Bodily Injury & Uninsured Motorist Property Damage: $250,000 person/$500,000 accident/$100,000 property damage
Personal Injury Protection: $15,000 person/$30,000 accident ($1,000 ded) R
Medical Payments: No coverage
Transport Trailer: No coverage
Vehicle coverages for 2013 HONDA CB1100
Physical Damage Options: Total Loss Coverage
Comprehensive: $500 deductible
Collision: $500 deductible
Disappearing Deductibles: Selected
Roadside Assistance: Selected
Accessory coverage: $3,000 (Included)