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I did. Progressive is by far the cheapest where I live for third party liability + road assistance. 75$ for that is as cheap as it gets. And no tickets either plus all the usual discounts. Just getting comprehensive+ is where it starts getting expensive, and as of yet I haven't seen anything better.

Yeah I checked medical and that was stupid expensive. Made no sense.
You have to look at it from multiple perspectives in your case. In Florida, insurance isn't mandatory so you have far fewer people that actually have insurance. This means a much smaller pool of paying customers so there are much fewer people to spread the risk around with. Coupled with the fact that like California, there's people riding all year round so that means exposure is vastly greater than state that have snowy and icy winters which greatly amplifies risk. The medical portion for motorcyclists has always been astronomically high due to prevalence of medical injuries sustained by motorcyclists per incident relative to cars. When a car has an incident, unless absolutely major, the occupants often come away with minor injuries if any at all. Any seriously bad impact requiring extensive medical treatment for the car driver would probably lead to extremely an extremely critical condition if not mortal for the motorcyclist. The best outcome financially for the insurance companies in the long-run though are where the rider dies nearly instantly on site. The costs associated with death are far cheaper than what would be accrued by the company if the rider had survived the crash but required extensive medical car (often far exceeding the plan's cap within days usually.) Since most of the crashes involving motorcyclists are usually relatively minor incidences, motorcyclists in general tend to get injured a lot more and cause the insurance companies to pay out more often and for more of the plan's cap than car drivers do. This is why we see such outrageous costs for the rider's medical coverage portion. Florida, like California, also has a distinction of having very poor drivers. With all of those straight roads, FL and CA still manage some pretty hefty crash statistics. It's funny because when I got the R1, the only reason why I got full coverage because I wanted comp coverage. The comp is only like $80 for the year, it's the collision that takes the lion's share at $400 and #300 of it is for the bodily injury coverage and $80 for the uninsured motorist coverage. The part responsible for covering the paying out of a totaled bike is only around $20/yr.
 

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It's not entirely due to theft protection, it's that to be able to have theft protection with Progressive they make you have pretty much every other option ticked, too. In other words your getting a lot of other things and additional coverage, but it still costs 1000 bucks for a 6k$ bike. For that money I might just save it in the bank for 6 years. Since I pretty much seem the exception I should get quotes from other companies. Or maybe it's just that Florida is 2nd winner for most bike thefts.
This isn't the case for me. With progressive, I have only the lowest legal limit of liability, (req'd in Wisconsin) and comprehensive which includes theft.

Since Progressive's set minimum rate is $75, comprehensive is basically free for me. But they divy up the value and break it out as being a cost of $27. Looks like this for my 1000:

BODILY INJURY & PROPERTY DAMAGE LIABILITY $35.00
BI $25,000 EACH PERSON - $50,000 EACH ACCIDENT
PROPERTY DAMAGE LIABILITY - $10,000 EACH ACCIDENT
UNINSURED MOTORIST $13.00
$25,000 EACH PERSON - $50,000 EACH ACCIDENT
COMPREHENSIVE $100 DEDUCTIBLE $27.00
INCLUDES DISAPPEARING DEDUCTIBLE
ACCESSORY COVERAGE $3,000 INCL
UNDERINSURED MOTORIST - REJECTED
MEDICAL PAYMENTS - REJECTED


Premium by Vehicle $75.00
Total Policy Premium $75.00
 

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In Florida, insurance isn't mandatory so you have far fewer people that actually have insurance. This means a much smaller pool of paying customers so there are much fewer people to spread the risk around with. Coupled with the fact that like California, there's people riding all year round so that means exposure is vastly greater than state that have snowy and icy winters which greatly amplifies risk. The medical portion for motorcyclists has always been astronomically high due to prevalence of medical injuries sustained by motorcyclists per incident relative to cars.
Man it's always a pity when the info is great but no paragraphs make it hard to read. :nerd:

Yeah, your right. Non mandatory insurance is a double edged sword. Basic 3rd party liability has to be super cheap since they can't overcharge knowing people will have to buy it by force anyway. I think that's great. Free market at it's best. I know more than one who bought scooters or motorcycles just because DUI's made car insurance cost prohibitive. On the other hand since the insurance pool is so small they sure as hell have to raise costs on anything but basic insurance.

And that too, Florida is both a "ride all year long" state and a "your bike WILL be stolen at some point" state, both of which make above basic insurance go up.

It's also a place where people are oblivious to the concept of motorcycle gear, sadly. About the medical costs, I read about that a few weeks ago. That was among the best articles I found, but boy is it dense to read. And it pointed out that the medical expenses (for which professional medical attention is required) tends to be in the 15k to 25k range, and that most of the time it's the government who ends up paying for it (I think it was over 50% of the time) since motorcyclists apparently don't tend to have insurance at all, or enough of it if they do. When I got a quote from my insurance it was like 600$/year solely for 10k medical insurance (the maximum they offered I believe), which is as poor of a price to insurance ratio as it gets. And like you said, fatal accidents tend to be dirt cheap at around 2k$ in medical expenses.

So yeah, I understand medical insurance for motorcycles being high in Florida. I'm still a bit uneasy from when I passed by an accident in an intersection not long ago. A motorcycle crashed into the side of a small car so hard he turned it on it's side. The accident had happened only a few minutes ago and the guy was just there lying on the floor, obviously dead, with the women in the vehicle crying her eyes out. The people in the car were (physically) fine. The guy was wearing no more gear than a helmet, but in this case it was the driving that killed him. There wasn't gear in the world that would have changed that. Totally unrelated but it came to mind.

God does Florida have poor drivers. As a libertarian it kills me to actually wish for more state laws and enforcement. When I lived in Spain, getting a drivers license costs about 1-2k$ and a few months. And you learn to drive perfectly. And by that I mean that to pass the test if you so much as let a tire touch a continuous line or not use turn signal once you fail. It's a bit extreme there, but so is it here where I got my drivers license in 24 hours since I opened the book until I had the physical license. Ridiculous.

Well totally unrelated to the original post, but I hope it's interesting nonetheless. I just re-researched my insurance to renew it last week so all of this is still fresh.

This isn't the case for me.
Looks like FreelancerMG was completely right about it being fundamentally a state by state issue then. I wish my insurance quote looked like that, and I don't have any red flags. Same goes for the few people I know that bother with motorcycle insurance around here. Oh well.
 

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It's all based on your location. Out in Iowa insurance is going to be far cheaper for motorcycles where you have an actual winter where people store bikes and you have a much smaller overall riding population to begin with. $288yr wont cover basic liability for many people in CA but in AZ can go most of the way to full coverage.
Yes, part of it is location. However, our ratio of motorcycles to people is relatively high compared to most states. You are correct though, most of us here aren't riding from December through February. We also have no helmet laws. The Insurance Institute for Highway Safety lists Iowa (10.2) at a higher rate of deaths per 100k of the population than California (8.1), but less than Florida (14.5). Statistically, my insurance should be higher than someone who lives in California.

http://www.iihs.org/iihs/topics/t/general-statistics/fatalityfacts/state-by-state-overview
 

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Yes, part of it is location. However, our ratio of motorcycles to people is relatively high compared to most states. You are correct though, most of us here aren't riding from December through February. We also have no helmet laws. The Insurance Institute for Highway Safety lists Iowa (10.2) at a higher rate of deaths per 100k of the population than California (8.1), but less than Florida (14.5). Statistically, my insurance should be higher than someone who lives in California.

http://www.iihs.org/iihs/topics/t/general-statistics/fatalityfacts/state-by-state-overview
As stated earlier, in a morbid way, a higher relative mortality rate will end up in cheaper insurance premiums due to lower medical costs as even some x-rays and a week stay in the hospital will bust your medical coverage limits while instant death due to your melon exploding on the ground/vehicle tends to result in instant death. A funeral tends to be cheaper than even some moderate injuries. Also, in some policies, death in itself sometimes isn't covered if it's your fault.

Those 3 months of the year you can't ride means that for a quarter of the year, no one's riding but many are still paying a minimal maintenance rate. A friend of mine is an insurance broker and writes automotive policies and time on the road equated to in mileage is a huge driving factor of premiums. A drop of a quarter of the year in usage can mean a very large drop in overall premiums as there's a lot less risk for the group as a whole to mitigate. This is further beneficial if you live out in the country or in a very small town or other sparsely populated area. My dad's rates in Marion Iowa were an 8th of what they are now in CA with a stellar driving record and being 56.
 

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.....BODILY INJURY & PROPERTY DAMAGE LIABILITY $35.00
BI $25,000 EACH PERSON - $50,000 EACH ACCIDENT
PROPERTY DAMAGE LIABILITY - $10,000 EACH ACCIDENT
Hey Zaph, just curious....are you comfortable with such low liability coverage? Maybe I'm paranoid, but I have 100k/300k/100k coverage but thinking about going to 250/500.

The last thing I want is to accidentally hit a pedestrian running across the street or hit a Ferrari/Tesla/GTR/BMW/Mercedes that's MSRPs over $100k and not have enough coverage to repair their property.

For me personally, a large increase in liability coverage only resulted in a small tiny increase in premium.
 

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Hey Zaph, just curious....are you comfortable with such low liability coverage? Maybe I'm paranoid, but I have 100k/300k/100k coverage but thinking about going to 250/500.

The last thing I want is to accidentally hit a pedestrian running across the street or hit a Ferrari/Tesla/GTR/BMW/Mercedes that's MSRPs over $100k and not have enough coverage to repair their property.

For me personally, a large increase in liability coverage only resulted in a small tiny increase in premium.
Like crashing a pretty new Triumph 675R into a Porsche in an At-Fault head on collision?



Knowing that the guy survived, I have to admit that
...
 

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Hey Zaph, just curious....are you comfortable with such low liability coverage? Maybe I'm paranoid, but I have 100k/300k/100k coverage but thinking about going to 250/500.

The last thing I want is to accidentally hit a pedestrian running across the street or hit a Ferrari/Tesla/GTR/BMW/Mercedes that's MSRPs over $100k and not have enough coverage to repair their property.

For me personally, a large increase in liability coverage only resulted in a small tiny increase in premium.
How many $100k cars do you come across? I don't have to worry about that in my area.
 

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Hey Zaph, just curious....are you comfortable with such low liability coverage? Maybe I'm paranoid, but I have 100k/300k/100k coverage but thinking about going to 250/500.
Yes. In fact I only have the bare minimum because it is legally required. If I need a lawyer, I can afford one. And the day a pedestrian steps out in front of me, my lawyer will prove it's his fault. 40 years of riding and I've never been in an accident that has been my fault.

"What If?" "What if YOU cause an accident?" That's the fear that keeps insurance companies rich. I don't play the insurance game. (well except for health insurance)
 

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For all those complaining about their insurance premiums, try moving to Ontario. I've done some research, and as far as I can tell it's the most expensive place on the planet to insure a motorcycle. I'm paying $1800 for the season. the 8 MONTH SEASON (24yrs, squeaky clean driving record, 3 years experience, and bare minimum coverage). I'd be curious to know if anyone around here pays more than that.

Congrats on getting your bike back, by the way. That's damn lucky, even if she'll need a little TLC!
 

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I'd be curious to know if anyone around here pays more than that.
I had been paying $3135/yr in 2013. I was 25 with one speeding ticket (1-15 km/h over in my car a few years previous), had been riding for a couple of years already, owned that particular bike for over a year, and never had a claim in my life. The season in NS is probably even a little shorter than yours. This was with a professional association discount as well as a couple bucks knocked off the bike policy for having a car insured with them as well (the car policy is not included in that $3135 price tag). This was for pretty full coverage though, now I'm paying about tenth of that for just liability on 2 bikes.
 

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How many $100k cars do you come across? I don't have to worry about that in my area.
Personally, at least a dozen each and every time I ride. I live in an area where property tax is $15 - $20k/year. And NYC is not too far away. Lots of upper middle class families around I guess. And that is the reason, I decided to increase my liability coverage. Trust me, if I drove/rode in an area that isn't filled with expensive vehicles, I wouldn't get the higher limit coverage! Don't want to pay the insurance companies more than I have to.

Yes. In fact I only have the bare minimum because it is legally required. If I need a lawyer, I can afford one. And the day a pedestrian steps out in front of me, my lawyer will prove it's his fault. 40 years of riding and I've never been in an accident that has been my fault.

"What If?" "What if YOU cause an accident?" That's the fear that keeps insurance companies rich. I don't play the insurance game. (well except for health insurance)
Gotcha...fair enough. Again, maybe I'm just being overly paranoid...but I like that peace of mind if that "what if" situation unfortunately happens. Although, I'm not at your status yet, but for the 20 years I've been licensed (10 years M endorsement), I have never filed a claim and no one else filed a claim against me via insurance. *knock on wood* Let's hope all of us keep the claims down!
 

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I think the need for liability depends on the person. A mature, careful and experienced person probably doesn't need it. Then on the other end of the spectrum you have Yammi Noob. He should probably be maxing the liability out.
 

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I had been paying $3135/yr in 2013. I was 25 with one speeding ticket (1-15 km/h over in my car a few years previous), had been riding for a couple of years already, owned that particular bike for over a year, and never had a claim in my life. The season in NS is probably even a little shorter than yours. This was with a professional association discount as well as a couple bucks knocked off the bike policy for having a car insured with them as well (the car policy is not included in that $3135 price tag). This was for pretty full coverage though, now I'm paying about tenth of that for just liability on 2 bikes.
Lol alright you win. I was in Halifax until 2015. Glad I didn't get my bike there I guess!
 

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Glad I didn't get my bike there I guess!
I think the problem was that the Honda NC700 was a brand new model that year so they had no history to base anything on and the foolish insurance companies charged as if it was a 700CC inline 4 instead of a 50hp parallel twin. The year after I called them again to discuss, and the same coverage was near a third the cost.
 

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I'll definitely take a look, when I'm off work.
Yeah I lucked out on insurance now.i have a $300 deductable and it only added about $81 to my yearly bill. Not sure if that will stick, but that's what I paid for now.

Thank you for the info and good vibes.

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You get that bike back on the road?
 

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Discussion Starter #59
You get that bike back on the road?
Oh yeah! Right now it's just for rides. I don't really park it, because I'm waiting on a full key set with my ignition and gas cap.

It rides great! I'm happy about that. My old tech manager is going to help me re paint it.

Best part about having no keys to start it is making the excuse at work to use the loading dock to park it inside.

Sorry for the late reply


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Oh yeah! Right now it's just for rides. I don't really park it, because I'm waiting on a full key set with my ignition and gas cap.

It rides great! I'm happy about that. My old tech manager is going to help me re paint it.

Best part about having no keys to start it is making the excuse at work to use the loading dock to park it inside.

Sorry for the late reply


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Nice! Secure parking, the best.
 
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