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State Farm is raising Motorcyle rates!!!!!


flounder

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Well the other day I got my bill for my insurance and noticed it was about $70 higher then last year so I called state farm to find out why since it wasnt listed on my bill. My agent didnt know why either so she called the underwriters for an explanation and then called me back. It turns out that State Farm revamped their entire motorcycle policy rating structure for the coming year to get more in line with the other insurance companies out there. For any policy that renews after March 2, expect to see an increase in your premium. She told me that the underwriters told her that they are expecting massive calls as some policies will double or even triple.

Just an FYI, I thought you would all like to know.

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if this happens to my policy, I'm out. They're losing the whole package, two cars, a bike, and a homeowner's policy....

I have been with State Farm for close to 12 years. 3 cars, 2 motorcycles, home and life. I'll wait until I get the bill and then do some comparative shopping before I decide to say goodbye. That company and my agent have been great to deal with, so I'll still give them a fair chance to be competitive.

Edited by Big Green Valley
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:lol: I use to get raped before, trust me. I paid my dues..lol

I remember paying $200-$250/month for insurance with Progressive before I got married and State Farm accepted me. They wouldn't back then though because of my points on my record. It sucked! Once I got below 2 tickets on my record though they accepted me. Then marriage took it down with automobile and home coverage combined.

You'll get there someday. It's all uphill from here man. :cool:

Edited by NinjaNick
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An underwriter told me to "suspend" my insurance during off months to save money. I'm not sure what this means...but they acted as if this was insider information.

You can call your insurance company and change coverages whenever you want typically. As soon as my bike hits the garage for the winter, I call Progressive and drop all coverage except for comprehensive, just in case the garage is robbed or explodes or something. By doing that, I go from paying ~90/month to 20/month, and I technically still have a policy so my rates keep going down each year the policy is renewed. I save a decent amount of money this way; it's probably what the underwriter meant.

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My SF agent told me they take winter into consideration for full year bike coverage and that the decrease for winter(and lack of riding) is spread across the payment schedule. Besides you never know when the urge to ride might hit. At $36/mo for a superbike I keep it all year(and that's after a previous totaled bike paid for by them). Although a bike, two cars, and house may have something to do with it to :dunno:

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I was doing the dropped/lowered coverage with Progressive for 4 years. It was costing me around 600-800/yr even with doing this, and SF only wanted $586 for the full year coverage. I switched to SF because of that, I didn't have to call to change my coverage for a day if I wanted to go out, and it was a combo discount when I rolled my truck and house into it.

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Ohhhh noooo, 70 dollars!

It must really suck to be a 21 year old who pays well over 90 a month for a bike that's not even a supersport eh?

Quit yer bitchin' ya old 100$/year-insurance-paying fogies :p

It went up $70 from last year. I am now paying $435/year for full coverage.

If ya buy a bike when your 21, expect the high rates. Im not really bitching moreso as letting everyone know to expect higher rates.

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