 Insurance
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Joined: Jul 2007
Posts: 6,060 Likes: 6
Worn Saddle
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OP
Worn Saddle
Joined: Jul 2007
Posts: 6,060 Likes: 6 |
Anybody ever hear of "Markel Motorcycle Insurance Co."? Got a mailing yesterday with some details of their coverage plans. I'm paying around $380 a year now for full coverage but always looking to save more. With my driving record I'm a good candidate for "discount rates".
Fidelis et Fortis
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Re: Insurance
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Joined: Jun 2010
Posts: 1,193 Likes: 22
Learned Hand
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Learned Hand
Joined: Jun 2010
Posts: 1,193 Likes: 22 |
I have my professional public liability cover with them...
No problems these last 5 years
I took the Road Less Travelled.
Now where the ****** am I?
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Re: Insurance
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Joined: Jan 2006
Posts: 7,666 Likes: 16
Monkey Butt
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Monkey Butt
Joined: Jan 2006
Posts: 7,666 Likes: 16 |
They are a specialty and surplus lines underwriting company.
Meaning if they write surplus lines insurance and get you covered under it that may well be fine. But on first party issues, like you wreck your bike, your state insurance commissioner may not be regulating their behaviors.
The tangible of all insurance is if you have a claim.
Suggested questions for them.
1. Do they have a Iowa office and are they standard lines.
2. If you have a claim exactly who does the appraisal and payments on the loss? Meaning do they hire independents or do they own their own local adjusters licensed in Iowa to handle the standard loss.
3. Do they have local agents close to you where you can ask questions and go over a policy issue.
Lets say they save you 50 bucks a year but take 6 weeks to settle out your wrecked bike claim? Was it worth that 50 bucks?
All of my 3 things above boil down to one thing. If they screw you on a claim do they have people in Iowa your lawyer can have named, served and sued in the name of Markel.
I try to aggravate one person a day. Today may be your day.
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Re: Insurance
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Joined: Jan 2005
Posts: 6,681 Likes: 1
Bar Shake
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Bar Shake
Joined: Jan 2005
Posts: 6,681 Likes: 1 |
$380 is good for full coverage. I'd stick with what you have. That's only $31 per month. My son is paying $100 a month to State Farm for his Speed Triple and he's never had an accident or ticket. 
"Catching a yellow jacket in your shirt at seventy miles per hour can double your vocabulary" Author unknown
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Re: Insurance
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Joined: Sep 2015
Posts: 797 Likes: 17
3/4 Throttle
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3/4 Throttle
Joined: Sep 2015
Posts: 797 Likes: 17 |
I have State Farm on both bikes. I have road side assistance and maxed out medical coverage. Think my deductible is $250.00. I also have an additional $5000.00 in accessory coverage.
2005 America $22.00 a month
2015 Rocket $28.00 a month
Road Rash Heals. Freckles Grow Back. Ride
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Re: Insurance
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Joined: Jul 2007
Posts: 6,060 Likes: 6
Worn Saddle
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OP
Worn Saddle
Joined: Jul 2007
Posts: 6,060 Likes: 6 |
Thanks fellas. 
Fidelis et Fortis
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Re: Insurance
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Joined: Jan 2005
Posts: 7,628 Likes: 7
Monkey Butt
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Monkey Butt
Joined: Jan 2005
Posts: 7,628 Likes: 7 |
Quote:
$380 is good for full coverage. I'd stick with what you have. That's only $31 per month. My son is paying $100 a month to State Farm for his Speed Triple and he's never had an accident or ticket.
Comparing a Speed Triple to an America is like comparing a Mini Cooper to a Hellcat. Not the same thing. Of course, age plays a factor as well.
We all like to think of ourselves as rugged individualists. But when push comes to shove most of us are sheep who do what we are told. Worst of all, a lot of us become unpaid agents of whoever is controlling the agenda by enforcing the current dogma on the few rugged individualists who actually exist.
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Re: Insurance
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Joined: Jan 2005
Posts: 6,681 Likes: 1
Bar Shake
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Bar Shake
Joined: Jan 2005
Posts: 6,681 Likes: 1 |
I know that but I still think $100 is unreasonable. I'm pretty sure w some shopping around I could cut the price $30 or $40 a month. He made a call to a State Farm call center from a dealer's showroom on a Saturday w/o getting any other quotes. And to be clear we are comparing Rich's Indian to a Speed Triple not an America. Right Rich?
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Re: Insurance
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Joined: Mar 2010
Posts: 99 Likes: 9
Member
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Member
Joined: Mar 2010
Posts: 99 Likes: 9 |
GEICO, $, 158.00 per year full coverage, no medical. $250 deductible. Had one claim no problems. A young guy also with GEICO insurance, on a motorcycle hit me from BEHIND ??. Came over a hill into a construction area there were no signs to alert him. I think he was way over the speed limit. He laid this bike down. When he got it up, it was leaking anti-freeze and oil.
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