Reasonable Insurance on the F4S?

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I'm currently awaiting delivery of my Strada and have been attempting to price insurance. However, insurers seem to either charge ridiculous rates or be unaware of what the Strada is and uncertain how to price it.

Who does everyone insure with and how much are people paying for full insurance?

-- Tom (threeroundburst@hotmail.com), July 16, 2000

Answers

I'm paying $600 per year, full coverage with a $500 deductible, through Statefarm. They insure both my car and bike. They won't insure just the bike.

I would call up Progressive and see what rates you get. Please let us know what rates they are quoting you.

-- mod (mvf4s@excite.com), July 17, 2000.


I pay around $330/yr with State Farm in Illinois. I have all my Insurance with them and have for 20+ years.

-- Scott Rothermel (jsratcas@aol.com), July 17, 2000.

Those are some nice premiums you guys pay. Unfortunately, after never having had a single accident or ticket in my entire driving/riding career, I finally had a minor at-fault accident two years ago for which I was ticketed. Now I find myself practically uninsurable on an MV in NYC.

For instance, for full coverage, Progressive wants ~$10,000/yr for the MV. In comparison, Progressive wants ~$1,000 year for full coverage on a Ducati 748. I could understand given the price difference if the MV were 3 times as much but what justifies 10 times the premium? Am I that safe on the Ducati but that dangerous on the MV?

As for other companies, Bikeline claims they don't write MV policies. Geico won't write insurance on me at all.

Allstate wants an unreasonable amount.

I spoke with State Farm which quoted me a price of $1,200/yr for someone with a perfect driving record, but the agent has to talk to an underwriter to give me a premium since I've apparently found myself in a high risk group. Hopefully, it won't be too much.

I could just go liability only, but as I live in NYC I really need comprehensive (and most insurance companies won't write comprehesive without collision in NYC.)

So I hope I find insurance or I'll be riding a 996 instead.

-- Tom (threeroundburst@hotmail.com), July 17, 2000.


That's a shame Tom. I wouldn'i be suprised though if my premium wasn't 3 or 4 times as much if I lived in Chicago proper instead of the far west suburbs.

-- Scott Rothermel (jsratcas@aol.com), July 18, 2000.

Not to rub it in but I just dug out my bill and I pay $288/yr. You should actually shop different State Farm agents. After all the show they make of looking things up in computers and confirming things with underwriters, etc... there still seems to be some differnce between agents for the same company. The agent seems to have a certain degree of discresion on the premium. My agent, for instance, writes a lot of Ferraris because he likes them and understands the customers in our area. He blows out the Porsche owners because he feels they are more likely to have loses regardless of the actual statistics, and he doesn't feel as comfortable with the majority of owners.

-- Scott Rothermel (jsratcas@aol.com), July 18, 2000.


You guys don't know how lucky you are! Here in London I'm paying $3000 for third party cover only - no cover for theft or for damage to my bike! Worth it thogh, to ride a bike as good as this. Nothing else compares.

-- Nick Horley (nick.horley@virgin.net), November 06, 2000.

Ouch, $3000 for third party cover in London. I just got a new quote on liability insurance for the MV and it'll cost me $900/year. Full coverage (theft and collision) is still too expensive at $8,000/year.

-- Tom (threeroundburst@hotmail.com), November 06, 2000.

I was intersted to see the outrageous prices we have to pay (world wide) for the pleasure of owning an MV. I don't live in London, I am over 50 and live in the country. I pay about 350.00 fully comp. But with a wicked 1000.00 excess. I have been riding (on and off) more off then on since I was 16. Don't make no dfferance.

I noted that insurance companies now worry about born again bikers. I also ran into difficulty insuring the bike. The company that insured my last bike last year a Ducati 996 SPS wouldn't touch the MV which was less expensive and lower powered. The logic eludes me.

The only comment is if you live in the UK with at least 3 years no claims (in certain cases 2) try Mitchell Bros.

Best of luck Michael

-- michael newton (glider01@btinternet.com), January 02, 2001.


Allstate is charging me $1000 anually.not bad right ?

-- Bong Jamorabon (brjamorabon@yahoo.com), February 11, 2001.

State Farm Mutual (not Fire and Casualty which is way more) is charging me $128 every six months for $500 deductable full coverage.

-- Marshall Paisner (paisner1@bellsouth.net), April 21, 2001.


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