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Old 08-01-2014, 04:59 PM   #1
beemerphile OP
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"Collector's" Insurance?

I there a liability insurance solution for someone who wants to own six or eight motorcycles but doesn't want to pay another liability policy each time they buy one? I have four bikes with liability only insurance (State Farm). I just bought the 4th one and it occurred to me that I am paying the same amount per term for all of them. State Farm's financial exposure did not increase at all with the 2nd, 3rd, and 4th bikes. I'll only ride one at a time and we are talking only liability.

Is there an economical solution to insurance when owning many bikes?
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Old 08-01-2014, 05:09 PM   #2
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Usually vehicles are individually insured. Most states require insurance to be current during the registration period. While the liability may not have increased, you're still insuring separate vehicles.
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Old 08-01-2014, 06:18 PM   #3
Dorito
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Progressive does just that. Upto 4 bikes on one policy, with them all sharing the liability portion.
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Old 08-01-2014, 06:44 PM   #4
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Originally Posted by Dorito View Post
Progressive does just that. Upto 4 bikes on one policy, with them all sharing the liability portion.
That's the kind of thing I was hoping to hear. thanks.
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Old 08-02-2014, 04:53 AM   #5
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Quote:
Originally Posted by beemerphile View Post
I there a liability insurance solution for someone who wants to own six or eight motorcycles but doesn't want to pay another liability policy each time they buy one? I have four bikes with liability only insurance (State Farm). I just bought the 4th one and it occurred to me that I am paying the same amount per term for all of them. State Farm's financial exposure did not increase at all with the 2nd, 3rd, and 4th bikes. I'll only ride one at a time and we are talking only liability.

Is there an economical solution to insurance when owning many bikes?
I have 3 scooters with State Farm @ approx. $10/month each. I don't think they can go lower than that. They act like they are doing me a favor.
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Old 08-02-2014, 10:31 AM   #6
r60man
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I was going to say that Progressive is the way to go. At this point I own two bikes, soon to add a third hopefully. Progressive recognizes that you can not ride both bikes at once and so they cover both at the price of one basically. I pay $150 a year for max coverage for both bikes. If I add the third it will go up to about $175.

They also only charge March through Oct, even though you are covered year round.
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Old 08-02-2014, 10:56 AM   #7
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Learn something every day

http://www.insuranceland.org/wp-cont...urance-Flo.jpg
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Old 08-02-2014, 11:51 AM   #8
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I will check with Progressive on Monday. I am not a fan of Peter Lewis or Flo, but one of them is gone now and the other is imaginary, so...
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Old 08-03-2014, 10:25 AM   #9
trc.rhubarb
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I wish I was at $150/year :)

Progressive charges me more for every bike BUT each bike comes with about a 10% discount.
When I added the R90, it was so cheap that it lowered the price of my total policy but I still pay individually for all.

It's about $1200/year right now (for 4), which is crazy. They figure YOU can't ride more than one at once but you have friends and family that can share.

I'll be adding a DRZ soon and that will be another $150 or so per year.

I looked everywhere but couldn't find better pricing or options. If you find something, please share.
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Old 08-03-2014, 12:29 PM   #10
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Quote:
Originally Posted by trc.rhubarb View Post
It's about $1200/year right now (for 4), which is crazy. They figure YOU can't ride more than one at once but you have friends and family that can share.
That is about what State Farm gets out of me for four.

Quote:
I looked everywhere but couldn't find better pricing or options. If you find something, please share.
Will do, and likewise please.
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Old 08-03-2014, 01:53 PM   #11
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Do Progressive on line, much cheaper than agent rates.
Have had multi-poicy's with them for years.
However, all bikes require the same coverages.
Not a bad thing. Just my .002.
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Old 08-03-2014, 05:16 PM   #12
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Do Progressive on line, much cheaper than agent rates.
Have had multi-poicy's with them for years.
However, all bikes require the same coverages.
Not a bad thing. Just my .002.
I just did that. What a difference it makes. I am moving my four bikes over from State Farm effective October 1st. (I am leaving for Labrador-Newfoundland next week and didn't want to make the change on my way out of the country for a month.)
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Old 08-04-2014, 11:09 AM   #13
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Another option is Hagerty Insurance for vintage vehicles.

http://www.hagerty.com/Insurance/Motorcycle-Insurance

I use them for an old car I have. There are a couple key features that I like:

1. It is cheaper than standard insurance, because they recognize that these are not daily drivers.
2. You set the value of the vehicle, then pay accordingly. I set mine at what I have into the car, so that if anything happens I'm made whole.
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Old 08-04-2014, 12:03 PM   #14
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Quote:
Originally Posted by Dorito View Post
Progressive does just that. Upto 4 bikes on one policy, with them all sharing the liability portion.

No kidding? I have three bikes with Progressive. All are liability only. Would be great if I can just pay one premium for all three.
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