Insurance

[Mo Lee]

I'm in the final stages of putting my V8 trike I just finished on the road (waiting on VIN tag to be installed). GEICO who has me as a 29 year biker w/MSF course, wants as much for just for liability as I pay for full coverage on my other three bike put together. Figured this would be the best place to ask surely there is a better option.

[Rsw]

The only company I could find here in Southeast Ohio for my VW trike was Progressive.
They considered it a homemade trike and could only get liability.

[jaxbobg]

Excuse my ignorance, but did you build your trike from scratch?
Since you are getting a new VIN, I assume you had to get some kind of state inspection. How did they classify the vehicle for the purpose of creating a registration & title?

I live in Florida and have full coverage from Progressive on a 2009 BMW Hannigan trike. My title lists the trike as a motorcycle, so it is insured as a motorcycle, not a custom build or kit. Coverage includes PLPD, $375 Ded Comp, $375 Ded Collision, accessory coverage, roadside assistance. Oh, yes, and the State gets $5 for the Hurricane assessment.

So here's the policy cost breakdown: 24% of the premium is for PLPD (liability), 8.5% for comprehensive. Almost 75% of the premium is for collision coverage. The basic liability coverage is actually about the same as the policy on my 2001 Suzuki.

Most of my insurance cost is for collision and I'm willing to pay it because the BMW is my primary transportation, and the trike blue book value is about the same as my neighbor's 2009 Toyota auto (which cost new about the same as the trike plus conversion when new).

Have you tried getting quotes from a "biker friendly" independent insurance agent? It seems that a combined policy for all of your vehicles would be pretty heavily discounted.

Hope this has been helpful.

[Mo Lee]

Thanks for the replies, hopefully this weekend I can make a few calls and see what my options are. Yes I built it from scratch and it is being titled as a 2013 special construction.

[classycustoms]

Mine is with Progressive, liability only. It is titled as a motorcycle, special construction.