State Farm renewal raises my Super Sport rate 275% on BMW | GTAMotorcycle.com

State Farm renewal raises my Super Sport rate 275% on BMW

cf1340

Well-known member
Just got my insurance renewal from State Farm /Certa Insurance Company and my rate for a 2011 BMW S1000RR went from $1440.00 per year to $4001.00 per year effective February 2016.
This represents a rate increase of 275%.
It should be noted that my $1440.00 rate included a $400 discount for attatching an auto to the policy....with out the car policy the rate would have been 30% higher or around $1840.00 per year. The $4001.00 quote also included the discount for having an auto policy with them.
I did not obtain the 2016 quote with out the car discount attached......scared to find out:(

I was advised that my new rate was the best rate a State Farm customer could expect as I had never filed an insurance claim, no tickets, 2 decades of continuous motorcycle coverage and have safe storage in a garage.

My agent confirmed that all Super Sport motorcycles insurance rates are going up 200-300% with all January 2016 and later renewals.
This rate included an additional 15 % surcharge for targeted brands of motorcycles.
I inquired which brands were targeted by Certa Insurance and was told this included BMW, Harley Davidson & Triumph.
I obtained a quote for a 2015 Triumph Tiger Explorer and the new rate is $1752., and for a 2015 Harley Davidson Fat Boy $2652.00 (remember these are the best possible rates one can attain...and these rates include an auto attatched to the policy for the discount,...others rates will likely be higher under the new pricing structure.
 
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Yup.... Des Jardin doesn't like supersports.
 
Glad I bought a metric cruiser and not a Harley, that's all I can say about that.
 
I just got a renewal from state farm and it didn't change at all. My Fz09 to them is considered a SS
 
Looks like I'll have another track bike next year if I can't find a better rate elsewhere.
 
I just got a renewal from state farm and it didn't change at all. My Fz09 to them is considered a SS

It's funny you mentioned this but my insurance (Personal) considers both FZ-07 and FZ-09 as street bikes not SS.
 
Wish laws existed preventing this large step wholesale adjustment from happening.

Hardly seems fair to the consumer. Makes me wonder how we as buyers of insurance can affect change with our wallets.
 
Wish laws existed preventing this large step wholesale adjustment from happening.

Hardly seems fair to the consumer. Makes me wonder how we as buyers of insurance can affect change with our wallets.
I was with statefarm. Went with Allstate. Same low price
 
Wish laws existed preventing this large step wholesale adjustment from happening.

Hardly seems fair to the consumer. Makes me wonder how we as buyers of insurance can affect change with our wallets.

If enough people complain to their local MPP using terms like "arbitrary" and "punitive" and "mandatory" and "monopolistic competition" and "collusion" you might see some talking heads making some noise to the industry. I would think an association of Ontario motorcycle dealers and manufacturers would be unhappy with this and would be attempting to use whatever lobbying power they have.

Ontario has responded to people complaining about auto insurance rates. Maybe when they see consumers facing 275% increases in parts of the motorcycle realm they'll act too. I wont hold my breath waiting though...
 
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I just bought CBR1000RR....if get surprised during my renewal then I will be the first to initiate a class action lawsuit
 
I doubt the govt will do anything. State Farm is only bringing their rates in line with all the other companies. There's no way in hell that anyone under 25 will be riding a ss now.
 
There's no way in hell that anyone under 25 will be riding a ss now.

This is insurance companies stepping in to address a failure of the government to implement graduated motorcycle licensing based on power limits such as is in place in Britain. Maybe this will help keep more of The Young and The Reckless in good health while they hone their riding skills and possibly even gain some maturity and good judgement.
 
This is insurance companies stepping in to address a failure of the government to implement graduated motorcycle licensing based on power limits such as is in place in Britain. Maybe this will help keep more of The Young and The Reckless in good health while they hone their riding skills and possibly even gain some maturity and good judgement.

Oh please. The OP stated:

"I was advised that my new rate was the best rate a State Farm customer could expect as I had never filed an insurance claim, no tickets, 2 decades of continuous motorcycle coverage and have safe storage in a garage."

He isn't some pimply-faced kid if he's been riding continuously for 2 decades. He's not irresponsible, is mature and has good judgement if he's never filed a claim and had no tickets.

This is money grubbing pure and simple. It's a cartel of insurance companies not competing with each other and colluding to provide government-mandated coverage at super-high cost because they know people have no coverage alternative.
 
I just bought CBR1000RR....if get surprised during my renewal then I will be the first to initiate a class action lawsuit
Hahahah
 
L
He isn't some pimply-faced kid if he's been riding continuously for 2 decades. He's not irresponsible

Unfortunately, the way insurance works is collectively. The underwriters look at the bigger picture and decide the risks involved.

So, in some respects, I have to disagree with your statement - now everyone collectively suffers because of that pimply faced kid who does stupid things on his SS....because they're the ones that crash and cost insurance companies lots and lots of money. So, now unfortunately, as life sometimes go...the many pay for the stupidity of the few. Although I wonder what the stats are...the ratio of crazies on sport bikes to what would be generally accepted as responsible and mature seems upside down, something that probably has a lot to do with this as well.

Im not defending insurance companies nor do I think that it's always right in the case of good riders getting majorly hosed at the expense of the shifty riders, but there is ultimately the greater picture the underwriters see.

The number of stories here about running from police, street racing etc etc etc ultimately translates to RISK, and that's exactly how insurance is priced in the end, the same as how an excellent driver with even just basic liability only coverage on something high performance like a Corvette or a Porche (let's leave vehicle value out of the equation) is going to pay a lot more in premiums vs if they were driving a Cavalier - risk.

Risk is everything in insurance, and a lot of sport bike riders are their own worst enemy in demonstrating time and time and again that they expose themselves to crazy levels of risk. Sadly, the good and responsible riders are caught in the fallout in the end, some less than others, but everyone feels the wave.
 
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I just bought CBR1000RR....if get surprised during my renewal then I will be the first to initiate a class action lawsuit

Funniest thing I've read in a while. Thanks. :lmao:

One question - on what grounds?
 
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Funniest thing I've read in a while. Thanks. :lmao:

One question - on what grounds?

Exactly. Driving is still a privilege, not a right. Buy a cheaper car that you can afford to insure, or take the bus ultimately if you can't afford that even.

The courts don't care that you can't afford the expenses related to what amounts to a "toy" for most riders.

And again I'm not necessarily defending the insurance companies, and I do think that the system is in desperate need of reform, but the knee-jerk reactions of just throwing a lawsuit at every problem isn't the solution. Write a letter to your MP or something more productive, or join an organized cause that will take up the issue collectively.
 

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