Insurance gotcha
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  1. #1
    Senior Member cutandrun's Avatar
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    Insurance gotcha

    There have been some discussions about insurance costs on the CB on another thread and it prompted me to do a little comparison shopping. I currently have State Farm for home, cars, and bikes. The home and car rates are very good, but the bike rates aren't great. Allstate could save me about $600/year on the two bikes combined. Not so fast! I also have an umbrella liability policy through State Farm. Apparently, if I don't insure all of my vehicles with State Farm, the umbrella policy goes up by (you guessed it) $600. Their reasoning is that they would have to coordinate coverage between the two insurance companies if there was ever a claim. What a racket.

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    Senior Member Golgarth's Avatar
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    Insurance must work very differently over there than over here.

    We have to insure everything separately pretty much. You can insure multiple bikes, and a multi vehicle policy is possible but not worth the hassle (been there done that).

    Cost wise, as I have one claim against me and only three years no claims, my insurance for the CB alone, is around £450. Our smallest car (VW UP!) is cheap as I have 12 years no claims bonus, so that's £220ish.

    I have paid in excess of £1500 for cars in the past, won't be doing that again......

    On top of these we have house and contents insurance, also separate. When I work out the total cost of insurance wish I could have at least some of it back.

  3. #3
    Senior Member DELuth's Avatar
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    We insure everything separately and most companies give a discount for multiple policies.

    Their reasoning is that they would have to coordinate coverage between the two insurance companies if there was ever a claim.
    What kind of crap is that? That doesn't even make sense. How would that ever come into play? .....unless you crash your own vehicles into each other.


    It makes a big difference what state/county you are in, too. The rate discussed in the other thread was for a state that does not require uninsured motorists coverage. My state does require it and the difference between the other fella's rate and mine was the same amount that the uninsured motorists coverage adds to my policy. I asked for a quote and it was the same as my current ins. company charges. (Geico) I assume his quote did not include uninsured motorist coverage.

    Basically, in Mississippi, us responsible citizens are forced to carry the sorry-asses driving around with no insurance by basically paying another premium that they should be paying. Horseshit! Mmmmm, yummy, tastes like socialism!
    "I don't know how to put this, but I'm kind of a big deal. People know me. I'm very important. I have many leather-bound books and my apartment smells of rich mahogany."

    My Bike

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  5. #4
    Senior Member cutandrun's Avatar
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    Quote Originally Posted by DELuth View Post
    What kind of crap is that? That doesn't even make sense. How would that ever come into play?
    Regular liability insurance caps out at $300k on policies in California. The umbrella policy extends the limit to $1 million, an unfortunately necessary amount to carry here because of overzealous accident attorneys and unpredictable juries. The insurance company handles the first $300k separately, so Allstate would have an attorney for part of any large claim and State Farm would have an attorney for the balance of the umbrella policy. We have the same uninsured driver premium here and in about 30% of accidents, you'll need it, even though insurance is supposedly required to drive.

  6. #5
    Senior Member Huey's Avatar
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    Quote Originally Posted by Golgarth View Post
    Insurance must work very differently over there than over here.

    We have to insure everything separately pretty much. You can insure multiple bikes, and a multi vehicle policy is possible but not worth the hassle (been there done that).

    Cost wise, as I have one claim against me and only three years no claims, my insurance for the CB alone, is around £450. Our smallest car (VW UP!) is cheap as I have 12 years no claims bonus, so that's £220ish.

    I have paid in excess of £1500 for cars in the past, won't be doing that again......

    On top of these we have house and contents insurance, also separate. When I work out the total cost of insurance wish I could have at least some of it back.
    Jeez mate, you pay a lot, but well aware age / location makes a big difference.

    I pay about £170 for the CB (old fart with 20+ ncb) and about £200 for an Audi TT roadster.

  7. #6
    Senior Member Old Goat Ninja's Avatar
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    Same exact issue here for me. I have State Farm for house, cars, and bikes. Just like you said, if I get a separate policy for the bikes through a different insurance company, I lose the bundle rate. I didn't get the whole spiel you got, just got that I get a discounted rate for have so much with them and if I removed some of it, I no longer get the "discount".

    EDIT: I also tried to go to Allstate with the bikes haha. I might try again, but with zero info given to State Farm. I might just say I sold the bikes or something.
    2014 CB1000R
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  8. #7
    Senior Member cutandrun's Avatar
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    Quote Originally Posted by Old Goat Ninja View Post
    I might just say I sold the bikes or something.
    That won't work. The insurance companies have DMV records that show all vehicles registered to a particular address. You would have to register the bikes at an alternate address and hope they don't share info with other insurers.

  9. #8
    Senior Member DELuth's Avatar
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    Do like they do in the hood and put it in yo mamas name!
    "I don't know how to put this, but I'm kind of a big deal. People know me. I'm very important. I have many leather-bound books and my apartment smells of rich mahogany."

    My Bike

  10. #9
    Senior Member Eldon's Avatar
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    Quote Originally Posted by DELuth View Post

    Basically, in Mississippi, us responsible citizens are forced to carry the sorry-asses driving around with no insurance by basically paying another premium that they should be paying. Horseshit! Mmmmm, yummy, tastes like socialism!
    Thanks that made me smile. LOL
    I really am getting a feeling that I'm less of a Socialist the older I get......... if ever I was one!

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