A few weeks ago I did a quote for KM that was $1315 annual for a Conni14- he lives in South FL for those that need location. The same type of quote for GA (not Atlanta) would be $350 annual. In SC the quote was $480 and in Alabama it was sub $300. Location is everything in this business. State Farm banks on "other" lines of business and loses it shirt on motorcycle and boat coverage. All things change, and so will State Farm. They've begun the process with "new" customers and in about 5 years or so exsisting customers will see the change. Buying liability coverage only keeps the State happy. It does NOTHING for you. Uninsured/Underinsured Motorist coverage is your CYA in the event that a Dumba$$ that hits you has not got appropriate coverage in the first place. So- the biggest vaiables here are Comprehensive coverage (theft & fire) and Collision coverage. Well, what do you want to pay for? If you get collision coverage and you decide it's a fine day to ride your bike into a bus full of nuns, you can get the bike fixed. Does it cover your injuries- NO!!!!! If anyone tells you otherwise they're lying and you're a dunba$$ for listening. If the bike disappears, is vandalised, spontaniously combust or you hit a dog the comprehensive coverage SHOULD cover the cost of the bike repair or theft at Actual Cash Value (unless otherwise stated in your policy). So- back to my original statement, you can't justify pricing unless you know the veriables and we have none from our friend that started this thread.
I'm old (compared to a 25yo). I WILL get a better rate no matter what I ride vs the 25yo. However, If I chose a 1098 as my ride will I get a better rate than the 25yo if he chose a VLX? Probably- not?. It's a loaded question and there is NO direct answer without knowledge of more facts.
