Multiple Bikes and Insurance.

I know many people on the forum have multiple bikes. I think I'm ready to consider getting a 2nd. Are there any programs or items would should know about addressing insurance for multiple bikes.

If my insurance is X for 1 bike, should I expect it to be 2X for two bikes 3X for three bikes etc...

I can only ride one at a time LOL.

Thanks,

jason

 

I have Nationwide insurance so I can't speak for the others. Mine wasn't twice as much for the second bike but it wasn't free either. I don't remember the exact numbers now, but it was a pretty good discount over exactly twice. Just because you can't ride both bikes at the same time doesn't mean the one you aren't riding doesn't need insurance. Theft, getting hit by a car while parked, etc. These are still things it needs to be insured for even if it's parked at home.

Some insurance companies give discounts for AMA membership and completion of a MSF approved training course. Nationwide gives discounts for both, as well as having my house and cars through them, but it still isn't cheap.

 

Typically, the more you have on one policy, the cheaper it gets per motorcycle. It does depend on the years, models and coverage options per bike, but overall the price per bike goes down.

 

I use State Farm also. I get a discount on my premiums for combining my home owners and auto but as far as bikes goes they charge 1x for 1 bike and 2x for 2 bikes etc. Their rates are probably not the cheapest out there but they are great to deal with and settled a recent claim (an under-insured driver totalled my car!) very quickly and professionally so I will stick with them.

 

Well the type/age/cost of bike is the biggest factor. Have your bikes on the same policy as your car. Your primary vehicle should be the car, will give you the cheapest bike rates.

Definitely go for a more bike-friendly insurance company too, ie Statefarm or AAA. Avoid the rapists, Progressive/Geico.

Call around.

 

I work in insurance for a living and have spent a pretty good amount of time working on this. I have my bikes through Progressive, my cars and house through Liberty Mutual, and my antique cars through a specialty antique company. I have quoted with about 11 insurance companies in the past 6 months and have found that to be the cheapest method with the best overall coverage.

State Farm rates bikes by displacement only when providing liability coverage, and only considers the type of bike if you are getting comprehensive or collision. Progressive, for instance, rates everything according to the bike itself. They have proven to be the cheapest for me and I have had good luck with their claims experience.

Liability coverage through most companies is mostly based on three things: weight, ability to avoid an accident, and motor vehicle record of the rider. More recent models with more advanced braking systems are generally cheaper, as are lighter bikes. Comprehensive includes many more details including distance from your primary residence to a hospital, theft rates in your area, etc.

A multi-bike discount is commoon. Make sure you have your agent check which bike should be listed as your primary ride, as at least one vehicle has to be your primary in most policies. Sometimes it's cheaper to list one as primary over another.

And remember, insurance is state regulated and YMMV.

 

I pay about $150 more per year for full coverage after adding the 3rd Gen to my policy. What are you considering getting?

Regards,
Rollin