Teething problems with a new model - Insurance

[dzknmd]

I received my new insurance ID cards from Progressive Insurance today and noticed that, based on the vin, they have identified the bike as a Honda Model VT750C2. I called Progressive about this and the fellow said that is what it shows but he would make a note of it. I gave him the correct model number but he had no record of it at all. He wasn't very helpful but I guess there was nothing he could do about it.

Has anyone else run into this? I think I am probably paying too much for insurance because of this.

 

[JDE]

I too have Progressive and also had an issue like this. Except mine went the other way. I got a note from them saying that I provided the wrong VIN# or something to that effect and it was listed as a VTH something or other can't remember right now. Anyways I double checked my VIN on the bike with what they had in their system and sure enough one digit was off, they had a 5 where there should have been a 6 on about the 5th or 6th digit of the VIN. Changing it increased my inssurance by $30 a month! So when I get a chance this week I'm going to call them up and see what the deal is with that.

Look your paperwork over again and double check every digit of the VIN. It's probably wrong on your insurance paperwork. I was able to change mine online. You should be able to do this as well.

 

[FlaNC700X]

I have All State and the bike isn't even listed.

 

[Michael252]

I've had my bike a month and it happened to me also (Progressive). They finally got it straightened out after a couple of weeks. Same thing with the changing the 6 to a 5 in their system.
BUT...
Progressive has the NC rated as a "Street/Sport" bike, and for that reason my insurance went from $250 to $430 (previous bike was a 2010 NT700 rated as a "Sport/Touring" by Progressive...similar size engine and almost twice the original value of the NC). That "sport" moniker really jacks up the price. While I consider the NC a sporty-looking bike, I don't put it in the same category as a crotch rocket. Could Progressive have their ratings wrong?

 

[670cc]

Progressive buys their VIN list from an outside source and that list does not yet include the NC700X. It was supposed to be on the list as of around the first of September but I don't know if it is. Meanwhile their "intelligent" software assumes you made a typo and fixes one number in the NC700X VIN "for you" so it shows as a VT750.

You can't fix it with the Website. The phone reps can't fix it either. I was able to get a manager type at Progressive on the phone who made some custom insurance cards for me with the correct model and VIN.

It will be very interesting now if at some time they suddenly send me a bill for an upcharge because of the "street/sport" rating of if they will leave well enough alone.

Greg

 

[SilverPelican]

Yeah, it took me over a month to get it fixed. They supposedly have everything fixed now. I just logged in and it finally shows up correctly on the web site. And coincidentally I have a payment due today! That almost slipped by! BTW, the VT750C2 is the Shadow so I doubt you are paying too much.

I have a pile of unopened mail from them sitting on my dining room table. Supposedly correct cards are in there somewhere. Should make it a priority tonight to go through them. Online my policy shows $665 a year with $301 of it being the line item "medical payments $25,000 each person". I am in my mid-40's and have been with them for years but I insure the crap out of my vehicles so I expect it to be a bit high.

 

[happy]

Just for your reference but totally not relevant for US market, over here Zurich Insurance gave me a quote of about 500chf for Full Coverage (bells and whistles).
1USD = 0.95chf

In the end, I opted for half-coverage 3rd party, meaning 3rd party with fire and theft. I am thinking no one is going to steal my ride (it is safe here plus I always park bike within my sight, and there is also HISS). The only possible danger is I set fire to it in a fit of anger or that I forget where I parked it (not likely, seeing I got all my marbles about me).
This reduced coverage cost me 250chf.

A pure 3rd party insurance will cost 130chf here. Nett. Coverage or payout is guaranteed in MILLIONS chf (not kidding)
I did that for my Honda Shadow ACE1100C2, for last 7 years before I gave her up for the NCX. I call this peanuts money.


Road tax is about 100chf per year. Autobahn (highway) cost 40chf for 1 vignette sticker valid for whole switzerland. So all in all, I am paying 250+100+40 = 400chf for my toy per year. Cheap.

 

[TechiePilot]

Having a higher deductible (that you can fork out if need be), is one way to 'lower' your premium. If its 'categorized' as a Shadow, yes, I doubt the policy is overpriced. Allstate didn't find the VIN#, but they shut up when I sent them a pic of the sticker from the fork. They admitted its 'so new' its not in their database. Its currently categorized as "12 Honda Model Not Fo", and the VIN# is correct.

 

[happy]

Having a higher deductible (that you can fork out if need be), is one way to 'lower' your premium. If its 'categorized' as a Shadow, yes, I doubt the policy is overpriced. Allstate didn't find the VIN#, but they shut up when I sent them a pic of the sticker from the fork. They admitted its 'so new' its not in their database. Its currently categorized as "12 Honda Model Not Fo", and the VIN# is correct.

3rd party has no deductibles.
I guess my fire and theft has 1000chf or 500chf for the deductible. I am not even thinking about it....

The way to calculate a premium (even if bike is not within database) is to get the street price (catalogue price) and the kW rating (or PS or Nm). They then factor in biker profile (age, claim history).
I am, however, not surprised they do not want to process your insurance application properly. That is why they work in insurance, lazy people.

 

[dduelin]

I have Allstate and when I called them on date of purchase 7/25/12 the VIN was not listed. My agent said this was not a problem as the model was new and she agreed to underwrite it provisionally and I had coverage but no idea of cost. 2 days later she calls and says the premium will be $185 a year. I carry full coverage with 100/300 and uninsured motorist. This is stacked on top of my car insurance. For comparison my ST1300 is $225 a year.

 

[dzknmd]

Thanks guys, at least I know I am not in this alone. It also sounds like my premium will more likely go up than down if they are going to be lumping it in with the crotch rockets.

 

[dduelin]

Thanks guys, at least I know I am not in this alone. It also sounds like my premium will more likely go up than down if they are going to be lumping it in with the crotch rockets.

I would discuss this with your carrier if they classify it as a sport bike/crotch rocket. The NC700X is a standard.

 

[Mikerbike]

I had the same problem with Progressive. Two weeks ago they promised me new insurance cards within a few days. Not here yet. I'm glad I'm not alone! I'll call them again tomorrow. Otherwise Progressive has been great.

 

[dzknmd]

I too have Progressive and also had an issue like this. Except mine went the other way. I got a note from them saying that I provided the wrong VIN# or something to that effect and it was listed as a VTH something or other can't remember right now. Anyways I double checked my VIN on the bike with what they had in their system and sure enough one digit was off, they had a 5 where there should have been a 6 on about the 5th or 6th digit of the VIN. Changing it increased my inssurance by $30 a month! So when I get a chance this week I'm going to call them up and see what the deal is with that.

Look your paperwork over again and double check every digit of the VIN. It's probably wrong on your insurance paperwork. I was able to change mine online. You should be able to do this as well.

They did the same thing to me with the six and the five. I was blaming my agent but maybe Progressive's computer did it.

 

[Cyclerosis]

I have All State and the bike isn't even listed.

I too have Allstate (had to say that) I have my house and two cars on my Allstate policy and thought I'd get a better rate than Geico by bundling the bike on the same policy. Like you say, they didn't even have it listed. And the price to cover this bike was nearly 3X more than with Geico.

 

[TechiePilot]

I found Allstate to be no trouble at all. I was busy working the phones to make sure I would have full coverage for the 100+ mi ride from the dealership. Its to know that many A-listers like us have had a good experience with the agency.

 

[rocketman24]

I also have Progressive. They first told me that their system would update on 29 Aug and then the VINs would be loaded. As of yesterday, they told me the VINs won't be loaded until 26 Sep. I have asked them to reassess the NC because it is not a "Sport" bike. I know nothing will probably happen from my request, but it doesn't hurt to ask.

 

[JDE]

I also have Progressive. They first told me that their system would update on 29 Aug and then the VINs would be loaded. As of yesterday, they told me the VINs won't be loaded until 26 Sep. I have asked them to reassess the NC because it is not a "Sport" bike. I know nothing will probably happen from my request, but it doesn't hurt to ask.

I plan on asking as well, maybe if more of us push it will happen.

 

[kunju]

I have progressive as well and bought my bike on 29th August (quoted on 28th August). My ID cards shows NC700X

 

[dzknmd]

I plan on asking as well, maybe if more of us push it will happen.

They will hear from me too if they come up with some ridiculous rate calling it a sport bike. I have seen a lot of mailers lately promoting motorcycle insurance from various insurance companies. I could be wrong but my perception is that there is an increased interest in the motorcycle market among insurers. I have been with Progressive for several years but I might have to go price shopping.