So is she saying the parts themselves become more and more expensive each year so your cost rises as well? I never heard of that explanation before. But the bike is worth less each year so if you totaled it, they would pay out less in 2014 than in 2011. That would balance out the rise in parts costs IMO.

 

Call statefarm back and ask to talk to someone in the underwriting department. That's sounds like a bunch of horse shit. The underwriters are the ones that figure cost of base premium.

 

The Golden Rule.


He who has the gold makes the rules.


Guess who has the gold in this situation.




*** hint it's not you.

 

When you turn 25 your insurance is supposed to go down... :lol
I don't have a street legal bike anymore.

I had the same thing with Liberty Mutual, I have had them since I started driving because my parents had them. After being a customer for 11 years, and having motorcycle and homeowners insurance too, they wanted $3,000/year for a 2001 Blazer and a 2001 Savanna for liability only. No accidents, no tickets, nothing. The increases keep coming if you aren't paying attention. I switched to Manufactures and I'm paying like $800/year or so for the same coverage as before.

 

:lmao I had the exact same experience after I went out on my own, with Liberty Mutual. I called them to see why my insurance would drop by 75% by going with Erie, after being a loyal customer with Liberty Mutual for years. Their answer was that if I moved to Phila, Erie would not insure me there. When I said I will never be moving to Phila., they had no more answers. :lmao

 

Check your policy and make sure they are hiding anything on there. I've had them hide road side assistants and other things on mine before. I'm in PA and pay half of what you pay for full coverage on a 13' 1000 age 24 also.

Sent from Motorcycle.com Free App

 

In either 2011 or 2022 my motorcycle policy with statefarm doubled I went from 66 a month to 110 I dropped them immediately my riding buddy who had been with them for years saw a similar increase.

The lady told me they changed how they rated our bikes and that they were losing a lot of costumers. I kept my auto policy with them but switched elsewhere for motorcycle coverage

 

No ****.

Tell me if this sounds like complete bullshit to any of you, or if I'm way off base and ignorant that this happens with motorcycle insurance:

The facts:
-Bought the bike in 2011 (age 24), full coverage insurance through state farm was 740.83/year.

- In 2012 my monthly payment went up 7 dollars, I figured, ah, inflation, whatever.

-In 2013, went up another 8 dollars. They told me that was just the rising cost of insurance... Ok, whatever.

In 2014, they are sending me statements for $123 and some change! From 86/mo to 123? Annual premium jumped almost $200 from when I first signed on with them. And when I called and, nicely, requested an explanation, the lady (there's always a lady, isn't there?) told me that it would cost StateFarm more to fix my 2008 Suzuki Gsxr750 today, in 2014, than it would have in 2011. That the model of my bike is one of the very few that this happens to.

No accidents, tickets, or other bad behavior.

I just don't get it, help me wrap my mind around this one.

Shop around....:cheers

 

Insurance companies often have different rates for customers that renew vs. customers moving from another insurance company. Make some calls, do some homework and find who offers good coverage for less.

 

Statefarm charges me 122 a month for my 750. 30 years old no tickets no accidents. Rider insurance with better coverage then state farm was 600+ a year cheaper. that's who I'll be switching to as soon as this last bit of insurance stuff gets settled up.

 

180 a year through geico for liability coverage on my 93. im 44 no tickets no accidents. i used to pay 84 a year for my 83 cb1100f. a rider safety course will get you a discount in most states i do 1 every year.

 

Fuck State Farm. I had a client that called State Farm to get a quote on a car she was looking to buy. She had been with them for about 7 years. No accidents, no drama, whatever. She gives the lady the info on the car she's looking at and before she can get a quote, she tells the agent:

"So what I'm going to do is get your rates, then cal a few other places just to compare and see who gives me the best rates."

Silence.


Silence.


Then i hear the agent tell her the following:

"If you shop my rates, I will cancel your policy on the spot" :wtf

Naturally my customer says "What?"

to which she repeats even more sarcastically:

"If you shop my rates, I will cancel your policy on the spot"

She went on for a few minutes how she'd been with em for years, and the woman just was stonewalling her.

I decided to jump in and talk to her.

"Hello, yes _______, Hi, I'm Mike, and let me understand what you're saying here so that we're perfectly clear. You're saying that if your client merely SHOPS your rates that you will cancel her policy?"

"Yes, that's what I'm saying" (in a sarcastic tone)

"Ok, I'm giving you authorization to cancel her policy right now and refund her pro-rated premium. I find it appalling that you are threatening a good playing client, having never had a claim, or even a ticket, that you will cancel her if she simply shops your rates. As if you had ANY right to prevent her from doing that. I have on my desk, the names of 4-6 agents with: American Family, Farmers, Bear River Mutual, Farm Bureau and others, eager to have her business, and I will be certain to share my experience with State Farm whenever I can"

During all this, my client was hmy and after I hung up, I told her, "They are charging you WAY too much...there's NO reason they would threaten you with cancellation just for shopping, let's make some calls"


Within 30 minutes or so, I had her with American Family and her new car policy was nearly $50 less a month, then her old car.... she was happy with me.

 

I'll shop around. You guys rock. I knew it stank to high heaven when she was telling me all this.

It seems like all the major guys around Chicago land are insanely high, I'll see what alternatives there are :thumbup

 

Go find a broker and have them shop for you

My motorcycle policy through progressive was over $100 cheaper a year just by using a broker and that's even including the $75 one time broker fee I paid

So for example the same policy if I had gotten it on my own would have been over $15 a month more

 

In most states, insurance rates for each provider are regulated. Meaning that each year they supply a formula to the state insurance commission for approval. So some criteria may be rated differently by some carriers. That's why it pays to call the majors each time you have to renew.
I have had Liberty Mutual go up 50% because they considered a $3200 payout for damage to one of my cars as a factor and raised the rate, while Geico only factors in the property damage claim if it hits $5000 or more, so they were $1000 less for my policy. Some companies also factor in credit scores as well.

 

-Call progressive 1-800-progressive itll be a long number but it takes you there, im 17 and have no accodents but 1 moving violation from running a stop sign in january (what can I say, it was snowy and i was in a 99 camaro z28 ls1 trying to get home, stopped for the most part and kept my momentum going so i didnt get stuck) so long story short i have 2 points on my license and pay 260 a year for liability on my 03 gsxr 600. My other buddy bought an 04 gs500f, hes got no moving violations or accidents and hes 17 also, 254 a year for liability and compensation, probably not quite as cheap as full coverage would be on an 08 600 but Id be willing to bet itll be a hell of a lot cheaper

 

Thats weird I have never had any issues at all with state farm, i pay $360 a year total for both my 06 1000 and 600. i'm 30 with a few tickets and one fender bender in the last 3 years.

 

$72 a year through Progressive for my sv650. So try calling Progressive or just go to their website. And if you want really cheap insurance...get an sv650 :lol

 

^This. The older/smaller bikes are cheap. I pay $65 a year for my K1 600 through Rider Insurance. I'm 31 and my record has been clean for years.

 

I work for Insurance companys for over 10 years. It is possible to have a rate change or even a symbol change , I have seen it. Basically all companies revise their rates like every 6 months or so and it can go up or down. Also if the symbol code changes for the bike that can change the rate also. One way to see what has changed on your rate is take a look at the breakdown from your prior term dec page to the renewal term dec page and see what prices have changed for what coverage and that will give you an idea what has increased. If its the liability portion its an over all rate change. If its on the comp/coll portion its the cost of insuring the bike itself changing. Either way the best thing you can always do and I always tell my customers ....IT DOES NOT HURT TO SHOP AROUND ELSWHERE FOR RATES ;-)

 

Well just an update, and a slightly irritated success story..

After going through the ringamaroo of getting quoted by a few other companies, I came up with the lowest being 69$/month from Esurance (an allstate company, apparently) for full coverage.

Called State Farm, explained that fact to them, and they started going over my policy. Lo and behold, the stupid woman who reactivated my policy this year raised all my coverages and lowered my deductible!

No fackin wonder the rate went up! StateFarm doesn't send out the policy information unless there are changes, and somehow these changes slippied through the cracks.

They're now giving me full coverage with the same lower deductible but with lower coverages for $64 a month.

Goddamn insurance companies and women have a lot in common. Can't live with them, can't live without them.

 

I'm calling them today. I think my deductible on my bike is $50. lol

 

For every front wheel that comes up so does our insurance.

Mine went up $50 a month and they still haven't explained it to me.

 

Eclipse, I had a similar problem with StateFarm when I bought my FZ09. They backcharged my suzuki premium a few months, credited it back, and then I had to pay 3 months of suzuki and yamaha premiums in a loop of circumstances I could not even understand(even though I only had one or the other) because of their paperwork error. It all worked out, but sometimes you gotta go sit and talk to the actual agent, and not their underlings.

 

State Farm is a crooked ass insurance company, hope they burn in hell.

Had homeowners with them for 10 years and then a hail storm hit.
I filed a claim and they fortunately sent my check after a few back and fourths.
They canceled my insurance after the policy was up though.
1 claim in 10 years and I get canceled? Assholes.