State Farm gave me some strange information

[Lucusice]

Hi I have an inquiry in regards to State Farm if anyone uses them. I called them up and told them I had just gotten my m2 and asked if that lowered my insurance upon renewal. They said no. I then asked if getting my m2 exit would lower my insurance and she said no again. She said they have fixed rates.

This confused me a bit so i pursued my inquiries a little further - surely after my first year my insurance would lower for my second year with them. They said no. So I asked her if after being with State Farm for 10 years I would have the same insurance costs and she said yes.

Does anyone know if this is accurate or if I just got crap information?

[DaveTheCanuck]

Hi I have an inquiry in regards to State Farm if anyone uses them. I called them up and told them I had just gotten my m2 and asked if that lowered my insurance upon renewal. They said no. I then asked if getting my m2 exit would lower my insurance and she said no again. She said they have fixed rates.

This confused me a bit so i pursued my inquiries a little further - surely after my first year my insurance would lower for my second year with them. They said no. So I asked her if after being with State Farm for 10 years I would have the same insurance costs and she said yes.

Does anyone know if this is accurate or if I just got crap information?

Lucusice, you should take a look at this thread: Factors that Affect your Insurance Premium

The information you were provided is correct, State Farm does not consider your M license level when insuring a motorcycle. They only factor your G license level.

Also, from what I know, insurance companies rarely give loyalty discounts. Just because you've been with them 10 years doesn't make you any less of a liability.

You should check with a Jevco broker. With Jevco, your rate can drop substantially after your first year of licensing.

(Also, first post, yay!)

[Rob MacLennan]

They do give 'claim free' discounts, however, so the information given is somewhat misleading.

[W8INLINE]

I'm with State Farm. The two biggest things that effect the rate with SF is your age, and loyalty/preferred customer status.

[slowbird]

When I was with statefarm my policy went up every year. i had no changes in policy for the longest time...every year it just kept going up.

Finally when I got my VFR750 I had to switch cause they started asking ridiculous amounts of $$

[rbjeepthing]

What my state farm broker (co-workers wife) told me when I did my insurnace was that age, total years licensed ie driving and size of bike were the main things they focused on. Obviously State Farm tends to always only insure low risk drivers so driving record was not included.

Funny thing was I switched companies after being under a group policy for EMS workers where I was being quoted $10,000+ per year on a CBR600! State Farm put me at $640 a month and even less on my two cars and house. This and im under 30 years of age.

[omnivore]

When I was with statefarm my policy went up every year. i had no changes in policy for the longest time...every year it just kept going up.

Finally when I got my VFR750 I had to switch cause they started asking ridiculous amounts of $$

Same here:
22 yrs of road riding, no claims ever, no tickets in 9+ yrs, and SF kept raising rates even though I was proving to be a better customer each yr by going even longer without claims, and bike was getting older and less valuable. I left them and now with Primmum.\

SF's rates are only better than the rest, if youre a 21 yr old on a sportbike. If youre like me, almost 40, married, with kids and a home, and yrs of experience, you will get better rates elsewhere.

[Rob MacLennan]

Same here:
22 yrs of road riding, no claims ever, no tickets in 9+ yrs, and SF kept raising rates even though I was proving to be a better customer each yr by going even longer without claims, and bike was getting older and less valuable. I left them and now with Primmum.\

SF's rates are only better than the rest, if youre a 21 yr old on a sportbike. If youre like me, almost 40, married, with kids and a home, and yrs of experience, you will get better rates elsewhere.

I actually found quite the opposite. The bike rates that I was being quoted, by State Farm, were remarkably good. I would certainly have considered going with them, if not for the fact that their rates for my car were ridiculously high. Like $500.00 higher than anyone else who quoted me. Might have something to do with the agent, I dealt with, having no idea what an excluded driver form was though.

[jeffjones]

I actually found quite the opposite. The bike rates that I was being quoted, by State Farm, were remarkably good. I would certainly have considered going with them, if not for the fact that their rates for my car were ridiculously high. Like $500.00 higher than anyone else who quoted me. Might have something to do with the agent, I dealt with, having no idea what an excluded driver form was though.

But if you bring your car to them as well as your bike they will knock the bike down another $50/month if you have a good record which means it would actually be $100 cheaper then everywhere else

[omnivore]

Umm no. ...its not a flat rate of $50...it's a percentage, and i think it's 10%. You would need to be getting rates in the $6000/yr range to enjoy a $50/month discount for adding a car to your policy.
I have had my house, 3 cars, and unbrella liability policy with them for almost 15 yrs. Even with all of their good guy discounts, the only waytheir rates were in the ballpark was if I was riding a suportbike.

Mytruck insurance doubles when I left TD and went to SF. My house insurance went up 20% for no reason last yr. Every yr I hhad my GSXR insured with them (3 yrs total) it went up.
1St yr it was $1190, 2nd yr it was $1300, 3rd yr it was $1420, then finally this yr, it fell to $1360...but by then I was selling it.

[Rob MacLennan]

But if you bring your car to them as well as your bike they will knock the bike down another $50/month if you have a good record which means it would actually be $100 cheaper then everywhere else

The bike was cheaper because of the multi-line discount. Without it there was no reason to insure the bike with them, as I could do better elsewhere.

[VifferFun]

For many people, your rate won't decrease with SF as you get more *motorycycle* experience because SF only considers *car* experience. This typically maxes out at 6 years of experience. If you get your first motorcycle with SF after you already have 6 years of car experience, then you are already getting the best experience factor applied to your rate. This is a HUGE advantage for new riders, but your experience factor cannot improve because it is already as good as it can get.

[kellen]

When I was with statefarm my policy went up every year. i had no changes in policy for the longest time...every year it just kept going up.

Finally when I got my VFR750 I had to switch cause they started asking ridiculous amounts of $$

the price of milk keeps going up every year too, whats up with that? It should just keep getting cheaper until its free amirite

[TwistedKestrel]

the price of milk keeps going up every year too, whats up with that? It should just keep getting cheaper until its free amirite

I dunno, does the statistical risk of returning a bad carton of milk go up or down over time, as your milk buying experience increases?

[kellen]

I dunno, does the statistical risk of returning a bad carton of milk go up or down over time, as your milk buying experience increases?

my point clearly is that in general the prices of good and services increase over time

sorry I made a joke out of it

[油井緋色]

From what I understand, if you're 25, been insured for 6 years since G1 and going onto a sport (600cc+), Statefarm is the only option. If you're 30+, then things change up a bit?

[Nellya Ostrirova]

The best way to verify if what she is saying is true is to ask her to send that to you in writing. (this works for all kinds of other things too)