Teething problems with a new model - Insurance

[Thumper]

Having exactly the same problem with the same company. Their computer system does not know what this bike is. It's not in their data base so the system just references something else. Fortunately, there is a helpful person in our local office, but she can't figure out how to solve this problem. I am surprised we're not hearing more about this from other people. Progressive covers a lot of bikers.

 

[dzknmd]

Changing insurance carriers

Progressive is still unable to digest the vin on my bike. They keep wanting to change the sixth digit from a 6 to a 5. Nor have they been able to pigeonhole the model number. The NC700X remains pretty much of a mystery to them. Never heard of Google I suppose. They have fooled around with this for about two weeks now and I believe that they have decided to call it a sport bike as the most recent statement I received increased my annual premium from $224 to $536. My independent agent said they will take this approach with a new model until they have some history to justify a lower rate structure.

This has precipitated a parting of the ways. My agent managed to find a company, Safeco, that will write the same coverage for less than $200 annually. I liked Progressive while I was there but they need to wake up and smell the coffee.

 

[Cyclerosis]

I just got off the phone with a GEICO agent with regard to the higher premium for this 670cc bike as opposed to my Ducati 1099cc bike with a lower premium. She said it was indeed classified as a sport bike. I started to disagree with her, thought better of it and as politely as I could muster, said good night.

 

[L.B.S.]

lol at your guys' Insurance "problems"


For my 2009 BMW F800ST-

Basic third party liability (compulsory, and Government run, you have no choice) : $1,303.00
Increased 2 million dollar coverage (required by Finance company if have loan for bike) : $245.00
Collision (same, required by Finance company) : $1,090.00
Comprehensive (same, required by Finance company) : $1,579.00
Licence Fee: $33.00
Registration Fee: $18.00
Decal Fee: $18.00

Total: $4,355.00 per year

If you only want to insure your bike for 3-11 months instead of full year, it actually costs you *more* money the fewer months insured, because the "short term Insurance policy Surcharges", new decal replacement fees etc., progressively add up to more than the months of being insured straight through, cost.

Now, if you have a lower cc bike, and it's worth significantly less, and you have a steller safe driving record, you can lower these figures a fair bit, up to a max of 43% discount.

If you are accepted for qualification by a third party Insurer for collision and comprehensive, you can choose them versus the goverment for those two fees. (but not basic, or all other charges)

The best deal I got was $552.00 per year, on top of the $1,000.00 or so my basic ended up being, after all my discounts.

Now unfortunately, a 700X is in the same class category for the basic insurance and all other fees, so it will cost me the exact same amount my BMW is costing me. Ugh.

Where I hope to save a couple measly bucks is with the third party Insurer that I have ("Beacon" if any of you guys have heard of them?) because the NC700 is a lower priced vehicle. (although it will end up costing me nearly the same amount as I would have paid for my F800, due to the Honda loan rate being double the BMW rate I got, and the brutal depreciation of the ST. I still owe more than the thing is worth, sigh)

 

[dzknmd]

lol at your guys' Insurance "problems"


For my 2009 BMW F800ST-

Basic third party liability (compulsory, and Government run, you have no choice) : $1,303.00
Increased 2 million dollar coverage (required by Finance company if have loan for bike) : $245.00
Collision (same, required by Finance company) : $1,090.00
Comprehensive (same, required by Finance company) : $1,579.00
Licence Fee: $33.00
Registration Fee: $18.00
Decal Fee: $18.00

Total: $4,355.00 per year

If you only want to insure your bike for 3-11 months instead of full year, it actually costs you *more* money the fewer months insured, because the "short term Insurance policy Surcharges", new decal replacement fees etc., progressively add up to more than the months of being insured straight through, cost.

Now, if you have a lower cc bike, and it's worth significantly less, and you have a steller safe driving record, you can lower these figures a fair bit, up to a max of 43% discount.

If you are accepted for qualification by a third party Insurer for collision and comprehensive, you can choose them versus the goverment for those two fees. (but not basic, or all other charges)

The best deal I got was $552.00 per year, on top of the $1,000.00 or so my basic ended up being, after all my discounts.

Now unfortunately, a 700X is in the same class category for the basic insurance and all other fees, so it will cost me the exact same amount my BMW is costing me. Ugh.

Where I hope to save a couple measly bucks is with the third party Insurer that I have ("Beacon" if any of you guys have heard of them?) because the NC700 is a lower priced vehicle. (although it will end up costing me nearly the same amount as I would have paid for my F800, due to the Honda loan rate being double the BMW rate I got, and the brutal depreciation of the ST. I still owe more than the thing is worth, sigh)

I'll shut up. That is amazing! Do cars cost even more than that to insure there?

 

[Cutter J. Duke]

I Don't know about Progressive, I called every insurance company for quotes and ended up with the same insurance I had when I got my first sportbike-Dairyland. They had the best prices and I have never had a problem dealing with a claim. They seem to be on top of things and allways have answers when I need them.

 

[L.B.S.]

I'll shut up. That is amazing! Do cars cost even more than that to insure there?

Well, I've only ever owned/driven one car my whole life, so I am a little out of touch with what modern expensive cars would cost to insure nowadays. My zook was as cheap, or cheaper, than even many motorcycles at the time lol (1991 Suzuki Samurai). Brand new, it was $7,995.00

I had a loan for that too, so I had to do the same "full meal deal" with insuring it to satisfy the Bank. I recall being a little miffed at how expensive it was to insure compared to my bikes, but can't remember what the exact amount was.

Present day, it costs me about $75.00 a month for Basic only, no theft or collision etc. My CBR125R is about $25.00 per month for the same Basic.

 

[barrett50]

Haven't bought an NC700X pending ride in near future, and a current Allstate customer. Progressive is high in part due to heavy advertising(Flo). Checked on previous bikes with Progressive and they were consistently higher than most. I'm 65, no accidents or tickets. Go figure...

 

[gkgeiger]

I have State Farm and they didn't list the bike either. My agent put it in a catagory called "other". The amount they came up with was less then the bike it replaced but the NC was less then half the cost of my RT. I was told it would be adjusted when they figure out what it is.

 

[berryw]

I went with Geico, and they listed mine as a VT750CF2. I figured it didn't really matter as long as the VIN was correct, but after reading al this, i looked at it now and I see that it did "fix" my VIN by replacing the 6 with a 5. Thanks Geico! I'm not sure I'm even going to mention it because I'm sure it will raise the insurance. Right now I'm only paying 150 a year for full coverage. What are the chances a patrolman would notice the difference in VIN in the event I get pulled over??

 

[mike5100]

Over here (UK) it's not so much the police as the loss adjusters that are the problem. Most bike insurers have a really bad reputation for trying to wriggle out of any claim because of incorrect information provided by the owner.
Mike

 

[draco_1967]

If the VIN on the policy doesn't match the bike, they might not honor it if something happens.

 

[L.B.S.]

What are the chances a patrolman would notice the difference in VIN in the event I get pulled over??

Jump for joy and praise the Lord if that's the worst that would ever happen to you...

Na, where you worry, is after you get run over by the idiot who didn't see you, and you're laying in the hospital with severe trauma costing hundreds and hundreds of thousands of dollars, future health problem for the rest of your life, and the Legal Weasels the other motorist hired, discover the mis-information.

"Denied"

"Here's the bill, sir."

 

[670cc]

I went with Geico, and they listed mine as a VT750CF2. I figured it didn't really matter as long as the VIN was correct, but after reading al this, i looked at it now and I see that it did "fix" my VIN by replacing the 6 with a 5. Thanks Geico! I'm not sure I'm even going to mention it because I'm sure it will raise the insurance. Right now I'm only paying 150 a year for full coverage. What are the chances a patrolman would notice the difference in VIN in the event I get pulled over??

I would immediately call GEICO and have them fix the problem and issue an accurate insurance card or take your business elsewhere. There are plenty of insurance companies out there.

Why put yourself at risk for their mistake? Why not get the service you pay for?

Greg

 

[SilverPelican]

I went with Geico, and they listed mine as a VT750CF2. I figured it didn't really matter as long as the VIN was correct, but after reading al this, i looked at it now and I see that it did "fix" my VIN by replacing the 6 with a 5. Thanks Geico! I'm not sure I'm even going to mention it because I'm sure it will raise the insurance. Right now I'm only paying 150 a year for full coverage. What are the chances a patrolman would notice the difference in VIN in the event I get pulled over??

Good grief. If you go to Honda's web site to look at the NC there is an ad for GEICO calling them a preferred partner and they still don't get it right.

 

[berryw]

Good grief. If you go to Honda's web site to look at the NC there is an ad for GEICO calling them a preferred partner and they still don't get it right.

Right???? Well my plan was to just not get run over.... (I know, I know) Guess i'll give them a call and see what happens. I'll keep you all posted.

 

[berryw]

Well, this is strange, it increased my policy from 198 (for two bikes) to 408. The odd thing is, the other bike on the policy, which is my wife's, went from $37 up to $73. That makes no sense to me. I just did this as on online quote, it actually has the NC700X as a bike now, so they are getting closer. Not sure if they are still listing it as a sports bike or not. I think i'll have to give them a call when I get out of this meeting.

 

[tromba]

My insurance (Progressive) went up (from my scooter) a total of $96 bucks a year when adding the NC700X. I was insuring my 49CC, (just in case) so I am a bit surprised that so many people are having problems with insurance rates being high.

 

[670cc]

My insurance (Progressive) went up (from my scooter) a total of $96 bucks a year when adding the NC700X. I was insuring my 49CC, (just in case) so I am a bit surprised that so many people are having problems with insurance rates being high.

I took a Ninja 250 off my Progressive Policy and added the NC700X. The annual increase was $12.

Greg

 

[670cc]

Well, this is strange, it increased my policy from 198 (for two bikes) to 408. The odd thing is, the other bike on the policy, which is my wife's, went from $37 up to $73. That makes no sense to me. I just did this as on online quote, it actually has the NC700X as a bike now, so they are getting closer. Not sure if they are still listing it as a sports bike or not. I think i'll have to give them a call when I get out of this meeting.

Looks like your 15 minutes costs you 100% or more at GEICO!