Insurance renewal question!

[JawnLee]

Hey guys just a quick question!

I bought an old bike last june and accepted an insurance quote from statefarm for around 1700/yr. Bike died in late October and I got a new one (zx10r) this year in march(which I updated immediately with statefarm).

My insurance jumped (obviously) but I accepted the new rate at 3150/year. When I got my card in the mail it said the card expires in June 2016? After reading about sf increases on supersport bikes, Im a bit worried. Does upgrading a new bike automatically renew insurance or does it still continue on the old term? All answers are appreciated!

Im also 24, m2 for one year, and no accident/claims at all. I also have a car with them.

 

[Bagman]

Can't call and ask? Changing something on your policy (new car, house, driver, etc..) won't reset the renewal date.

 

[JawnLee]

Can't call and ask? Changing something on your policy (new car, house, driver, etc..) won't reset the renewal date.

I did, their answer was super vague and i thought i'd ask here. Thanks for the response!

 

[samurai]

Can't call and ask? Changing something on your policy (new car, house, driver, etc..) won't reset the renewal date.

^ What he said ^

You will get new pink slips with renewal papers in mail 30-40 days before the June expiration date

You paid a portion of the $3150 when you switched mid term in March (prorated from Mar to Jun). From June of this year to June of next year (2017) your premium will be $3150

 

[JawnLee]

^ What he said ^

You will get new pink slips with renewal papers in mail 30-40 days before the June expiration date

You paid a portion of the $3100 when you switched mid term from June of this year to next your premium will be $3100

Thanks for the detailed response! So the new rate wont likely change? Thats honestly my biggest concern right now. I just think its ridiculous if they quote you one price for a year and then 3 months later it becomes double that price.

 

[samurai]

You can call ~40 days before your renewal date and they will tell you what will be the exact amount. (I think they lock that down 45 days before renewal)

 

[Riceburner]

The $3150 is for this year till June 2016. You are paying from when you got the new bike to June 2016 a percentage of the $3150. When it's renewal time in June 2016, they could up the amount. You should check around a good month or more before your renewal and see what quotes you get.

 

[JawnLee]

You can call ~40 days before your renewal date and they will tell you what will be the exact amount. (I think they lock that down 45 days before renewal)

Fair enough, they keep asking me to wait until late Mayish, until then I guess I will shop around. Thanks again for your answer!

The $3150 is for this year till June 2016. You are paying from when you got the new bike to June 2016 a percentage of the $3150. When it's renewal time in June 2016, they could up the amount. You should check around a good month or more before your renewal and see what quotes you get.

Will do, thanks for the tip!