FZ8 changed class. Insurance going up

[Sinooch]

Ok so the other day i get a letter from my insurance company stating that the class of my motorcycle has changed and that my policy will now be increased. Has this happened to anybody else? Can they even do that if i have an existing policy? What they basically said in the letter was we are raising your rate when you renew and if you dont like it find another insurance company. Seriously is that even possible?

 

[Umyaya]

Yeah it's possible. And no I haven't had that issue. What company do you have? Switch to a cheaper one.

 

[Sinooch]

i have rider currently. Im starting to look at cheaper ones cuz my insurance was originally 700 for the year which is a little high but im under 25. now they want to raise me up to 900 and change. idk the exact number

 

[Vikingminn]

i have rider currently. Im starting to look at cheaper ones cuz my insurance was originally 700 for the year which is a little high but im under 25. now they want to raise me up to 900 and change. idk the exact number

I gave everyone a heads up back in June or July. I had Rider. They told me they were changing the FZ8 to a sport bike after my policy was going to expire in September. My rate more than doubled. I went shopping online. I ended up with Progressive. Their rate was a little lower than my original Rider rate. Good riddance, Rider!

 

[Sinooch]

yea. i just did a quote with progressive as well and theirs seemed to be a little bit cheaper than rider. The only thing i like about rider is they dont raise your insurance for an accident. they just kick you off the insurance if you get too many. I got into one last summer and they didnt raise anything. Although they got the shit end of the stick now cuz so far ive only paid them like 700$ for insurance and they paid out 5k in parts and repairs for my bike. so if i leave they are gonna take a hit

 

[Umyaya]

StateFarm and Allstate are the cheapest for me.

 

[Vikingminn]

Sinooch, where in Jersey are you? I'm in Bergen County. Paramus.

 

[thach1130]

they got the shit end of the stick now cuz so far ive only paid them like 700$ for insurance and they paid out 5k in parts and repairs for my bike. so if i leave they are gonna take a hit

No. We take a hit. Insurance will continue to profit. The loss is passed down onto us members. Thank you Sinooch

Sinooch and Viking, my family is in essex county, near newark. During the summer i sometime ride my bike up there.

 

[Sinooch]

Sinooch, where in Jersey are you? I'm in Bergen County. Paramus.

I live about 10 minutes away from Rutgers in New Brunswick. Im actually moving in a couple of months though. Im moving over close to Parlin or South Amboy area so I'm still around. It would be great if we could meet up at sometime when it gets warmer and go for a ride. Ive only ever seen one other FZ8 in my area and i have no idea who it is. Always went in the opposite direction when i was passing him lol so i could never flag him down. To be honest i was starting to believe there were no other FZ8's around. Do you have any set areas where you go riding cause i usually go around town and thats about it. Ive only ever gone for extended rides a handful of times.

 

[Sinooch]

No. We take a hit. Insurance will continue to profit. The loss is passed down onto us members. Thank you Sinooch

Sinooch and Viking, my family is in essex county, near newark. During the summer i sometime ride my bike up there.

Obviously we take a hit. Our insurance is going up or at least it is if you have rider. I was just saying in my instance if i leave then they paid out more in damages then they had received which is a loss. I didn't mean it in the instance that they are going to lose a lot of business because of this. Only meant for my case they are.

and yeah newark is only about a half hour or so from me depending on where in newark in going to. If you ever come to jersey then let us know. I really would love to finally meet another person with an fz8 cuz like i said its very seldom in my town or any surrounding towns by me. I've only every seen one driving around.

 

[RubberSideDown]

I live in oregon, I use an awesome agent at a good insurance company. I just turned 28 so im hoping it goes down but my first year with my fz8 and to insure my zuma 50 its roughly 950 a year. Thats uninsured/ under insured riders(of my bike) or other drivers. Medical insurance tied to both bikes and I can cover something like 50 gs in property damage, which seems like it would be tough to do on a motorcycle much less a scooter. You never know though. Folks have expensive bongs here

go to riders you trust in your area or even the person you bought the bike from see if you cant find a cool agent. Someone who will look for all the possible discounts they can. In short someones who will actualy have your back and do what you pay for.

 

[nightttime]

What coverage do you all have/recommend?

 

[HeresMyMind]

I have USAA, mine is 60$ a month for full coverage with 100$ deductable. It was 72 a month last year. 20013 fz8, no accidents on my record, and I'm 28.

-B

 

[Sinooch]

I normally wouldve recommended Rider. but after this little fiasco im not sure. Progressive tends to give good rates from what ive seen though

 

[jer]

My 2005 Ninja 500R was only like $3/wk to insure so I was furious when I found out it would triple after I bought my 2013 FZ8 last year but it still seems reasonable with what others are stating- it was about $450/yr. I'm 41 and had just over a year of riding experience when I got it. It's a Progressive policy but as an extension of my USAA membership and I am also in NJ.