Best mod ever!

[turbojonny]

Cheaper insurance! I was paying almost 2,000 a year. YES $2000.00. I have an umbrella policy, and because of that my insurer told me I had to use them for all of my insurance needs (house, car, bike). So their quote was the only one I could use. I made one ridiculous payment and got pissed. I called to ask why so high, they said sorry too bad, so I called around. I can get the same insurance through State Farm for 700 per year. Full EVERYTHING with double the states requirements. I can get liability only for 17 bucks per month. I'm happy and pissed at the same time. Happy I got a good rate, and pissed that my douchy original insurance company obviously tried to hose me. They did say that they never really look to see who is insuring their umbrella policy holders bikes. They farm out all of their bike insurance to a secondary company. Oh, I'm a 44 y/o male with 0 tickets and 0 accidents/claims and a stock bike. They wanted two and a half times what I was paying for my old turbo busa! I don't think so! Smooch it! Moral of the story, don't take sorry it's not possible for an answer and make sure to shop around.

 

[dadofthree]

 

[B@DA$$08BUS@]

Did you aLl know, that if you have ever had a bankruptcy it plays a part in that also. My wife found that out as she is an attorney and one f her bankruptcy clients informed her that their rates went at renewal time and couldn't figure out why until their agent told them. There agent also told them that he wasn't supposed to tell them that. That's a crock of sheet! One can't pay their bills, so their ins goes up.
Posted via Mobile Device

 

[Htown Busa]

Also, if you have been with your current insurance company for more than 5 years, you are probably paying to much.

 

[cipher5791]

That sucks. It is amazing how they can justify that. I have my bike seperate from my cars. Since I have the title and outright own my bike, I pay a whopping $78 a year for liability. As long as the Org and Ebay exist, I feel like full coverage is a waste of cash.

My bike was rebuilt in the beginning. When I wrecked last year, I had to replace radiator, mirrors, lefts lower fairing, and clutch lever.
radiator(used with fan) $75 ebay
Left fairing $75 ebay
clutch and brake lever $30 ebay
mirrors (oem) $36 ebay
paint $170
painter $free

$386 vs. deductable of $500+ and possible rate increase.

 

[shadetree57]

I have all my vehicle insurance with state farm but one truck is insured through a different agent. Got a better rate because it doesn't get driven over 7500 miles a year. I don't understand why one agent can give you a better rate than another seein as how they are both State farm. I wonder if the agent sets the rates? anybody know?

 

[DEMMYM]

State Farm is the Best for Bikes.

 

[Takeuon]

State Farm is the Best for Bikes.

+1 agree

 

[jdsbusa]

Did you aLl know, that if you have ever had a bankruptcy it plays a part in that also. My wife found that out as she is an attorney and one f her bankruptcy clients informed her that their rates went at renewal time and couldn't figure out why until their agent told them. There agent also told them that he wasn't supposed to tell them that. That's a crock of sheet! One can't pay their bills, so their ins goes up.
Posted via Mobile Device

Actually they ARE suppose to disclose that - it's part of the fair credit reporting act. Insurance companies utilize a FICO score very similar to the same one lenders use, just tweaked for the insurance industry. If any company pulls your credit report, they're required by law to disclose any information that adversely affects what you pay them. Ask your agent, they should have no problem giving you the score they obtained. Mine tells me every couple months what my newest score is (State Farm) - I just love hearing cheaper rates every few months!

If you wants tons of info on credit stuff check out myfico.com and the forums there - great info for anyone needing to dive further into the credit industry and how it works.

 

[antonio1300]

I hear alot of good things about state farm but I am insured by allstate and only pay $26 a month. I think it is because I also have auto insurance with them as well. Mind sharing who the insurance company was that did this?

 

[B@DA$$08BUS@]

Actually they ARE suppose to disclose that - it's part of the fair credit reporting act. Insurance companies utilize a FICO score very similar to the same one lenders use, just tweaked for the insurance industry. If any company pulls your credit report, they're required by law to disclose any information that adversely affects what you pay them. Ask your agent, they should have no problem giving you the score they obtained. Mine tells me every couple months what my newest score is (State Farm) - I just love hearing cheaper rates every few months!

If you wants tons of info on credit stuff check out myfico.com and the forums there - great info for anyone needing to dive further into the credit industry and how it works.

hmm, didnt know that. That is just what he told my wife, I didnt even know they ran a credit check. Thanks for the info about myfico.com.

 

[B@DA$$08BUS@]

I hear alot of good things about state farm but I am insured by allstate and only pay $26 a month. I think it is because I also have auto insurance with them as well. Mind sharing who the insurance company was that did this?

I think the wifee said it was State Farm, but dont quote me. This has been several months back and i just thought about it as I was reading the thread.

 

[jdsbusa]

hmm, didnt know that. That is just what he told my wife, I didnt even know they ran a credit check. Thanks for the info about myfico.com.

Yep, google FCRA - all kinds of consumer protection and disclosure in the law. Most companies don't go out of their way when it comes to saving u money - I got lucky and have a great St Farm agent. House, cars and bike all through him and he's always been like a friend rather than a business operator. They reduce my rates every time my ins score goes up.
Posted via Mobile Device

 

[turbojonny]

State Farm asked for my social and I asked why. They said it was to check credit, but that the inquiry wouldn't count as a hit on my credit (every time you have credit run your score lowers). I let it go, even though I knew she was wrong. ALSO, I called another State Farm agent and he said that State Farm DOES NOT cover motorcycles unless the client has their cars insured through the same agency. Apparently that would be untrue, as agent number two at office number two insured me.
I'm doing the math here, 2000 per year vs 700 is 1300 per year savings. I could buy a full stage one turbo kit in three years, or 487 1/2 six packs of Fat Tire Ale. Now I'm getting really pissed! Those ass-hats were trying to steal my beer money!

 

[Strife]

Initial here and here and here and sign here. A vast amount of people don't even read what they are giving permission to. Most company give a brief explanation of the stuff you are denying,but not the stuff you are granting them.

Everything you need to know is in front of you,just the average American doesn't apply themselves into reading it all due to the length of time involved. We are a country that likes to move at the fastest pace with the least amount of effort.

 

[jdsbusa]

State Farm asked for my social and I asked why. They said it was to check credit, but that the inquiry wouldn't count as a hit on my credit (every time you have credit run your score lowers). I let it go, even though I knew she was wrong. ALSO, I called another State Farm agent and he said that State Farm DOES NOT cover motorcycles unless the client has their cars insured through the same agency. Apparently that would be untrue, as agent number two at office number two insured me.
I'm doing the math here, 2000 per year vs 700 is 1300 per year savings. I could buy a full stage one turbo kit in three years, or 487 1/2 six packs of Fat Tire Ale. Now I'm getting really pissed! Those ass-hats were trying to steal my beer money!

Let me clear this up as well...not ALL inquiries on your credit report lower the score...insurance pulls being one of them. The only pulls that will count are hard inquiries such as credit applications. Those are "hard" and the ones such as insurance or promotional ones (like when a credit card sends you a pre-selected offer they did using a soft pull to gain your correct info) are called "soft". Also....inquiries will not necessarily lower your score, that's a myth as well. It's a complicated system they use to score and everyone is different. I've actually had inquiries boost my credit score by as much as 5 points....it's nuts and impossible to figure out the formula.

As for State Farm, they indeed do cover motorcycle only so long as it's NOT your only form of transportation (assuming they'll ask for proof of another vehicle and the other companie's insurance card if you do try moto only with SF). That's their policy straight from their agents handbook.