Insurance

[jazdrmr]

OK,....I need some advice on insurance......

The day I purchased my 125 I immediately called my insurance agent and covered my scoot. Didn't ask questions on cost as I needed it covered that day. Now, several weeks later, I'm ready to look into this matter a little more closely. Right now I have full coverage (liability, comp, $100,000-$300,00, etc) on the scoot with $500 deductable. The cost is $209 every 6 months. I'm providing my MFS card to them today for an adjustment. If approved, my agent is telling me that this will save $80-$100 per 6 months for a total of approx. $220-$230 year.

I don't know if this is good or bad. I do know that the insurance company, American National Property & Casualty (ANPAC) was not familiar with Genuine Scooter/Buddy.

What's everyone else paying for insurance?

[madmikal]

Allstate. $75 per year. That is the same for my 62 Lammy or the new Buddy 125. I'm 37 with a clean driving record and have my other insurance with them.

mp

[ericalm]

It's very difficult to compare insurance rates. If you do a search of the forum, you'll see that rates and quotes vary wildly according to a number of factors: insurer, location, experience, age, gender (I suspect), type of coverage and deductible, your model of bike/scooter, and others known only to agents and their computers. The closest you can get is someone with a Buddy and similar age, driving record and experience who lives in your area.

For instance, in LA, few people have reported getting full coverage for less than around $200/year. But I've had estimates from other companies for comparable coverage that has varied as much as $600!

Paying that amount in WV does seem unusually high, though. Best thing you can do is comparison shop and get several estimates. It's time-consuming and a PITA, yeah. Even comparing rates from a single insurer can be tough, because some companies don't insure in some states or subcontract with another insurer for certain states and regions.

[twharton]

Geico...minimum required coverages by Florida law based upon my riding,

$98 / year x 2 scooters. It was $111 / year when I only owned 1 scooter.

Tom

[jperkins]

I pay $11.65 a month for both of my Buddies. So roughly $140 a year for two.

[hcstrider]

Like ericalm stated there are a number of rating factors that go into determining your insurance rate therefore it is difficult to hear about the fantastic rate that one person is paying and expect that you will receive a comparable rate.

If you haven’t done this already, you might try calling an insurance broker who shops several different insurance companies for you. The broker will be using your specific rating factors and insurance needs to determine which insurance company gives you the best rate. When I purchased my Buddy, I contacted AON Recreation Insurance who gave me 3 different quotes for the same policy coverage. AON charges me a brokerage fee to cover their brokerage expenses (this I think is about 15%) but still with the insurance fee and the brokerage fee I am only paying $82 per year. Although I used AON, I think that any insurance broker should be able to shop insurance companies for you and give you a quote for your specific rating factors and coverage from several different insurance companies.

[BlueMark]

There is absolutely no order or consistency to insurance prices for scooters.

I have Allstate coverage on 2 cars in Toledo, OH. When I got my Genuine Blur I went into my agent's office to add it to my coverage. He said no problem, he had just covered a new motorcycle for another client for just 90 dollars/year.

After he submitted my info he was shocked to see it spit back at over $500/yr (I was 45 with a great record; no accidents and no points) - apparently covering scooters for theft is very expensive in some particular geographic areas - no matter who you insure with. And theft coverage is one coverage you absolutely can not skip.

I shopped around with all the major companies and several pretty obscure ones and ended up with GEICO for $212/yr. In other cities GEICO is top dollar and Allstate or Progressive are the bargains - no rhyme or reason. It is as maddening as Airline pricing.

-Mark

[ericalm]

Yes--listen to the guy with the Geico lizard in his avatar!

[Phuket]

I made this one a new thread.

[Dooglas]

I am paying $137.60 per year through State Farm in the Portland metro area ($500 deductable; includes collision, comprehensive, liability and uninsured motorist)