| Author | Message | ||
     Lake_bueller |
I was looking into new insurance for my motorcycles. After researching many companies, I found Geico not only beat everyone's rates, they absolutely KILLED them!!! For 2 Buells (both 1998's), the yearly total was only $416! That's a COMBINED rate, not just one bike. This was for the following coverage: Bodily Injury Liability: $50,000/$100,000 Property Damagae Liability: $25,000 Uninsured Motorist: $50,000/$100,000 $250 deductible on both comp and collision Has anyone had experience with Geico for motorcycle insurance? This seems too cheap to be true. | ||
| Cowboy |
I just insured my bike with Geico.2001 X1 I got the same deal. Cowboy | ||
| Nevco1 |
Hmmm...interesting. Might have to start shopping around. Does anyone have any experience with Geico concerning claims? Of interest, I find it amusing that Geico is competitive in the motorcycle market. They were one of the first to drop sport bikes back when the stuff hit the fan in the late 80's and early 90's. | ||
| Cowboy |
I dont know how they are on claims. I have 4 trucks and a car with them. hope I never have to find out. | ||
| Nevco1 |
Amen Cowboy...Way2Go! | ||
| Reindog |
I have had my automobile insured with GEICO for over twenty years. I had an accident in 1989 where I rear ended a vehicle that pulled out in front of me. Of course the front vehicle tried to claim that I was at fault. My GEICO claims adjuster represented me and he was as aggressive as a junkyard dog in arguing our side when it went to arbitration. I won, GEICO paid my claim and my insurance rates did not go up. Don't know too much about the motorcyle side though. I insured my 2000 S3T for a year with GEICO (CycleGuard) but it was too expensive. Your quote sounds reasonable so I might take another look at them. | ||
| Bads1 |
Dennis get a ticket or a claim and you'll see how they are. | ||
| Glitch |
Does anyone have any experience with Geico concerning claims? I wrecked my wifes car the same day Spidey wrecked MJ. My fault. The adjuster was out the following morning, handed me a check, recomended a body shop, sent another check for diminshed value. Had the car back the same week. Great people to work with. They told me they would insure the Buell because they don't do sportbikes. | ||
| Nevco1 |
They told me they would insure the Buell because they don't do sportbikes. Glitch...Please clarify. FYI, I noticed in the current issue of MCN that the Blast, M2, XB12S and X1 are listed as "standards" and that the S3 and XB9R are listed as "sportbikes." The only real difference would be the fairing and noting that you show an "S" model in your profile, I am wondering if the Geico considers the XBS's standards and the XBR's sportbikes for underwriting purposes. | ||
| Bads1 |
I've had State Farm for Auto,Home and Life.I had insurance through Universal Underwriters which is one of the companys that HD used and not anylonger.Now they switched to a company called Formost which my insurance doubled for no reason.Mind you I have a clean record and no claims.So I called around and I found State Farm to be the beast for me.Seeing I have other policys with them I can in return get a better rate.See shopping around for only motorcycle insurance isn't easy.Because thats all your asking for......they look at you as a risk so you get a high rate.If you find one for cheap.All you have to do is have one mistake and they either drop you or your rate goes through the roof.And then some other times you will find that the rate will go up after you have had insurance with them for a year or so.Like I said above.Here in Wisconsin we can only ride for 5-6 months unless you like the cold.They inturn wrote me a storage policy,6 months $40.00 and all I have to do is call them when I want start riding and my riding policy will start.$204.00 for the rest of the year so thats $244.00.The only problem is if you have a lean on the title.You will have to ask your lean holder if they will let you do this.In my case they did and do.State Farm to what I understand is the only company that write's these type of policy's.Others only write one year policy's. | ||
| Nevco1 |
Interesting...have had State Farm for house (homeowners/renters), auto and umbrella liability for over 35 years. Have had claims, tickets and even a law suit and they never increased my premiums. Rates in WI are only a few bucks less than CA for the same coverage. My WI agent couldn't believe it when she did the comp. Guess she had to change her sales pitch after seeing how close the numbers were. When checking for insurance rates last year for the X1, my first insured (interesting, we didn't need insurance in the 60's and early 70's) bike in WI, State Farm was highly recommended by Non-HD/BMC dealers and almost all riders. I did some checking around and it became quite apparent that they were my best deal in WI. I might be able to save a few bucks somewhere else, but at least with State Farm, all my insurance coverage is linked for maximum protection. If I split up the policies, I would not have the same level of protection and to get it the cost would be higher. Incidentally, I maintain year round riding coverage so that I can enjoy the bikes whenever the roads are clear. Even if I just ride around the 'hood, it is a great way to beat the winter doldrums. I just wish cleaning the salt off was as much fun. LOL | ||
| Bads1 |
Bill I've had State Farm now 17yrs. going on 18 and I have no complaints. | ||
| Sandblast |
I called Geico out here in California to see what insurance would cost me for an M2 I was looking at at a dealer, they said they could not insure me on that bike in California. I am only 23 and I have an accident, but she said to call her later in the year because they were working on some kind of permits in my state so they could offer more policies. Hmm. Just out of curiosity I asked if she could insure my blast... nope. She said all Buells are Sportbikes regardless of the model or displacement. | ||
| Captainkirk |
Check out my tirade on the quickboard. I can't speak for Geico as I didn't check them out, but I can tell you who NOT to go with....CK | ||
| Nevco1 |
SandBlast...I always found McGraw to be a good deal in So Cal. Then again, I picked them up back when State Farm shined sportbikes. Things may have changed since I moved though. One thing to consider is to pay off the bike and get Liability only on it. You stand to lose in a theft, solo wipe out or hit'n'run but other than that, you save big time. I did it all the time out there and loved it as my medical insurance picked up the tab on me in an accident. CaptainKirk...Is a common complaint I heard over the last 18 months about Progressive. Especially among the Harley Crowd. | ||
| Dynarider |
I have my bikes thru Foremost, as Dana pointed out they used to be Universal underwriters & when they switched the rates on my Harley stayed the same & the X1 went up just a bit. I still pay less than $500 a year total for both. Got quotes from both progressive & geico. They were nutz, $800+ from both companies. Thats with no tickets on my record 40 yrs old, etc etc. I prefer the full year warranty as I never know when the weather will warm up & occasionally I get a bug up my ass to take the bike out on a 20deg day just for the hell of it. | ||
| Joey |
GEICO? Hmmm... I have USAA. I currently pay about $720 for 6 months for a new van, an old Jeep, and my Blast!. I called GEICO to see if they could beat my rates. They quoted $1600 for the same coverage for 6 months, excluding my Blast! because they don't insure motorcycles in DE. Years ago, I got what I thought was a good rate from GEICO. They later sent me a letter saying the rate was more than twice what the quote was, and the money I had sent will only cover for another 2 (for a total of 25 days) weeks instead of a full 2 months. I sent a letter back saying, "Cancel!" I continued to get bills from them for a couple years, stating I owed them for the full 2 months. When I first bought my Jeep, GEICO wanted more for insurance than I was paying for the Jeep. That's when I found USAA, who covered me at 1/3 of GEICO's price at the time. Don't know about GEICO, but I can adjust the coverage on my motorcycle at will, i.e., go to a "storage" status just with a phone call. Problem is, in DE, the law says I have to prove I've given my license plate back to the DMV. So, if I choose, I can fax the receipt to my insurance company. I don't bother, though, because I probably won't let my Blast! sit for more than a couple weeks, no matter how cold it is! edited by joey on November 18, 2003 | ||
| Glitch |
Sorry, they said they wouldn't give full coverage to any sportbike. Since all I was interested in was full coverage, I didn't ask any more questions. They are just a few dollars more than some other companys, but I've never delt with another insurance company with better service and coustomer relations, and that's worth the few extra dollars to me. Mind you thais the impression I get from dealing with them with cars. | ||
| Mikej |
Ask them for their specific definition of what a "sportbike" is exactly. It is probably some internal person's very subjective personal decision, and as was pointed out by some there are loophole bikes. I personally don't consider any Buell to be a SportBike, but the XB's are getting close. | ||
| Glitch |
I think it has something to do with how Georgia looks at things. I could be wrong though. | ||
| Dynarider |
Mike, American family classifies Buells as Harleys. They dont consider them sportbikes at all. Their rates were real damn good but not quite as good as I was able to get thru HD/Universal Underwriters/Foremost. | ||
| Mikej |
StateFarm just goes by displacement, and fortunately that 0003 in the 1203 doesn't kick it up a notch. Not sure how Acuity is going to be if we switch to them, and if so we'll loose some rate cancellation prevention guarantee. | ||
| Bads1 |
Dyna I was paying $172.00 a year through Universal Underwriters and that was since November of 99 until.My policy just expired 2 days ago.And mind you letting them aware of what has been done to the hybrid,rates never changed.Then Formost took over and sent me my renewal for this November,$585.00 for a M2.I then got my new 12 and called Formost they told me $1465.00 a year so I sent them $20.00 for the remainder of the policy.If your paying what you say you are your getting off pretty damn cheap.Almost sounds like they screwed up somewhere and its your benefit.Good luck. | ||
| Dynarider |
no screw ups at all. I even called to confirm. The X1 is just under $300 a year. The XB's are jacking the insurance rates up because of the frame deal, drop a tube frame & no big deal. Drop an XB & you get the cute dented frame so many people have now days. | ||
| Bads1 |
Dyna they know nothing about the frame deal.They doubled my insurance on my M2.And I know lots and I mean lots of people here in Racine that have your everyday HD's and they went up for no apparent reason also.And it shouldn't be a age thing your not that much older then I to make that big of a diff. | ||
| Budo |
In the early 90's I had a bike with GEICO, when I got a used VFR they said they would do liablity only. So after I got the Buell I went with progressive, very reasonable, $350.00 per year and it went down each year. Now I have a Yamaha FZ1 with them, same thing about $350.00 per year. Full coverage, I am 48 and had one ticket. | ||
| Dynarider |
Dana, how can you say a motorcycle insurance company doesnt know anything about the frames getting dented easily? These companies are quite well aware of what happens to particular bikes & the repairs costs asocciated with them. The XB's have been out going on 2 years now & im quite sure the industry has repair cost studies available to them. | ||
| Bads1 |
The people that give you your estimate are not the people that know this, there claims people would.They go off of replacement value of the bike.I'll have to ask this question when I go clean there office space to night.Which would be a broker for Progressive,Dairyland,Formost etc. | ||
| Nevco1 |
Just compared my coverage and rates with State Farm to those that Dennis posted when he opened this thread. Yep, I am paying a little more but my coverage is way better and I am dealing with a company that has proven they will take care of me should I need them. | ||
| Dynarider |
The people that give you your estimate are not the people that know this, there claims people would. And you think 1 hand doesnt know what the other is doing??? |
