Trike Insurance

Baldy_54 · May 26, 2022

Just received my Insurance Policy from Dairyland. They say the annual price is $695 but if I PAY before a certain date, it will be $557. Is that in line with what you guys are paying?

Seems a little steep to me.

I have an 05 Goldwing Lehman Monarch II With 53k on the speedo. That amounts to a little over 3k per year. Since my wife passed 8 years ago that really put a kink in our mileage. Have to admit, I have not been doing very much since that time. Don't think keeping the trike and the insurance is really worth it. Time to unload it unless I can get some cheaper insurance.

rhino 2 · May 26, 2022

Baldy_54 said:
Just received my Insurance Policy from Dairyland. They say the annual price is $695 but if I PAY before a certain date, it will be $557. Is that in line with what you guys are paying?

Seems a little steep to me.

I have an 05 Goldwing Lehman Monarch II With 53k on the speedo. That amounts to a little over 3k per year. Since my wife passed 8 years ago that really put a kink in our mileage. Have to admit, I have not been doing very much since that time. Don't think

keeping the trike and the insurance is really worth it. Time to unload it unless I can get some cheaper insurance.

I’m paying for “”full”” coverage about $700 year from Geico and I have a 2019 Triglide..

Jack Klarich · May 26, 2022

I pay $1.00 per day for full coverage including towing with help from Jim Palmer

https://www.motorcycleagent.com/contact

Baldy_54 · Jun 6, 2022

Thanks all. Right now I have the trike insured with my car and homeowner's ins. Until 7-27-2022 When my ins. is up for renewal. Will check see what is up then.

New Orleans Kevin · Jun 6, 2022

Baldy_54 said:
Just received my Insurance Policy from Dairyland. They say the annual price is $695 but if I PAY before a certain date, it will be $557. Is that in line with what you guys are paying?

Seems a little steep to me.

I have an 05 Goldwing Lehman Monarch II With 53k on the speedo. That amounts to a little over 3k per year. Since my wife passed 8 years ago that really put a kink in our mileage. Have to admit, I have not been doing very much since that time. Don't think keeping the trike and the insurance is really worth it. Time to unload it unless I can get some cheaper insurance.

don't mean to LOL but if you were here in LA it would be double that. I won't even post what mine costs but I'm blessed to have a 2017 FLHXS and 2021 Triglide. both are heavily insured through Progressive. best prices i could find. Jim Palmer has good prices too, mentioned in this thread motorcycle agent

rhino 2 · Jun 6, 2022

Baldy_54 said:
I have an 05 Goldwing Lehman Monarch II With 53k on the speedo. That amounts to a little over 3k per year. Since my wife passed 8 years ago that really put a kink in our mileage. Have to admit, I have not been doing very much since that time. Don't think keeping the trike and the insurance is really worth it. Time to unload it unless I can get some cheaper insurance.

I'm not say you should sell.....But in my humble opinion, Now is about as good as a time as any to sell......The bubble on the high prices of used Trikes is about to brake..

( If history is any teacher?)......

Red sport. · Jun 6, 2022

Jack Klarich said:
I pay $1.00 per day for full coverage including towing with help from Jim Palmer

https://www.motorcycleagent.com/contact

I keep read about all you guy cheap Ins. full coverage But, how much uninsured motorist coverage do you have? Talked to a friend other day he showed me his coverage he had denied uninsured motorist. That's what runs mine up, 50-100 with Progressive is $389 for my 2015 FREEWHEELER A Yr. for 2022-2023 I pay $1,086 for full coverage.

Got a call in for Jim now. Don't think I like it having to wait to talk to him, what if I was in an accident & need to talk to him?

UP DATE:: He call me back, He got me lot more coverage than I had, My Deb. will be $100.00, uninsured now is $100,000 each person $300,000 each accident. I will now pay $643.60 a yr.

Jack Klarich · Jun 6, 2022

Red sport. said:
I keep read about all you guy cheap Ins. full coverage But, how much uninsured motorist coverage do you have? Talked to a friend other day he showed me his coverage he had denied uninsured motorist. That's what runs mine up, 50-100 with Progressive is $389 for my 2015 FREEWHEELER A Yr. for 2022-2023 I pay $1,086 for full coverage.

Got a call in for Jim now. Don't think I like it having to wait to talk to him, what if I was in an accident & need to talk to him?

Jim will call you back for sure, he will look at your coverage and work out details for you

rhino 2 · Jun 6, 2022

Red sport. said:
I keep read about all you guy cheap Ins. full coverage But, how much uninsured motorist coverage do you have? Talked to a friend other day he showed me his coverage he had denied uninsured motorist. That's what runs mine up, 50-100 with Progressive is $389 for my 2015 FREEWHEELER A Yr. for 2022-2023 I pay $1,086 for full coverage.

Got a call in for Jim now. Don't think I like it having to wait to talk to him, what if I was in an accident & need to talk to him?

I always have UN’Insured and “UNDER’’Insured motorist coverage these days you need that..

Baldy_54 · Jun 6, 2022

rhino 2 said:
I always have UN’Insured and “UNDER’’Insured motorist coverage these days you need that..

Hey Bob, you threw me a curve ball. What is "UNDER" insured motorist coverage? Do you mean carrying not enough on the trike end?

cScjhb · Jun 6, 2022

Another vote for Jim Palmer. I switched all my insurance to him, Trike, Car, & Home. He is saving me a bundle. Just today I asked about insuring my golf cart that I am going license and use on the street for short grocery runs. The total bill for that comes to a whopping $16.00 per year (Added to my motorcycle policy). I do recommend him..... Jim

rhino 2 · Jun 6, 2022

Baldy_54 said:
Hey Bob, you threw me a curve ball. What is "UNDER" insured motorist coverage? Do you mean carrying not enough on the trike end?

No…Lets just say some guy totals your car/Trike and only has the bare minimum insurance required for his state…Some States have a ridiculously low required insurance minimum to drive legal….Who you gonna get to pay for the damages you can’t get blood out of a stone……You know who I’m talking about’ You had to seen the advertisements on tv …

IE ; No insurance for only 20 dollars down we can get you insurance so you can drive legally…..

Baldy_54 · Jun 6, 2022

rhino 2 said:
No…Lets just say some guy totals your car/Trike and only has the bare minimum insurance required for his state…Some States have a ridiculously low required insurance minimum to drive legal….Who you gonna get to pay for the damages you can’t get blood out of a stone……You know who I’m talking about’ You had to seen the advertisements on tv …

IE ; No insurance for only 20 dollars down we can get you insurance so you can drive legally…..

Gotch-ya Thanks

BigMick · Jun 6, 2022

I’ve searched and gone through many insurance companies inquiring on coverage for my 2022 Honda Goldwing DCT CSC trike.

Sorry, but willing to bet many trike owners are insured for their bike only, even though they think they are fully covered ……the trike conversion is not covered in the case of a total loss claim.

Have your insurance company put in WRITING that the motorcycle, trike conversion, and any accessories are all covered in the case of a total loss claim with your policy.

State Farm is one of them…

They go by the VIN only and issue a policy……no mention of trike conversion, accessories or optional equipment. Their rate is very reasonable for a reason.

They will NOT put anything about a trike conversion $$ or optional equipment in the issued policy.

Make sure you know what you have before you need to file and claim and then you find out different than you thought.

Baldy_54 · Jun 6, 2022

BigMick said:
I’ve searched and gone through many insurance companies inquiring on coverage for my 2022 Honda Goldwing DCT CSC trike.

Sorry, but willing to bet many trike owners are insured for their bike only, even though they think they are fully covered ……the trike conversion is not covered in the case of a total loss claim.

Have your insurance company put in WRITING that the motorcycle, trike conversion, and any accessories are all covered in the case of a total loss claim with your policy.

State Farm is one of them…

They go by the VIN only and issue a policy……no mention of trike conversion, accessories or optional equipment. Their rate is very reasonable for a reason.

They will NOT put anything about a trike conversion $$ or optional equipment in the issued policy.

Make sure you know what you have before you need to file and claim and then you find out different than you thought.

Very interesting and I am willing to bet you are right.

ultrafxr · Jun 6, 2022

Red sport. said:
I keep read about all you guy cheap Ins. full coverage But, how much uninsured motorist coverage do you have? Talked to a friend other day he showed me his coverage he had denied uninsured motorist. That's what runs mine up, 50-100 with Progressive is $389 for my 2015 FREEWHEELER A Yr. for 2022-2023 I pay $1,086 for full coverage.

Got a call in for Jim now. Don't think I like it having to wait to talk to him, what if I was in an accident & need to talk to him?

UP DATE:: He call me back, He got me lot more coverage than I had, My Deb. will be $100.00, uninsured now is $100,000 each person $300,000 each accident. I will now pay $643.60 a yr.

Jim is an independent agent representing many different insurance companies. Should you have a claim it will be filed with the insurance company. Jim certainly can consult and advise and perhaps intercede if need be but the decision maker is the insurance company and its adjuster. I've had to make several claims over the years and I always contact the number on the insurance id card, not the agent who placed the coverage.

Notgrownup · Jun 7, 2022

I pay $725 a year full cover with extra on the uninsured and underinsured, accessories, medical coverage…This is covering a 14 Tri Glide and a 07 Electra Glide. I am with Allstate.

Notgrownup · Jun 7, 2022

Baldy_54 said:
Very interesting and I am willing to bet you are right.

For a conversion, their usually needs to be a clause written in.

cScjhb · Jun 7, 2022

BigMick said:
I’ve searched and gone through many insurance companies inquiring on coverage for my 2022 Honda Goldwing DCT CSC trike.

Sorry, but willing to bet many trike owners are insured for their bike only, even though they think they are fully covered ……the trike conversion is not covered in the case of a total loss claim.

Have your insurance company put in WRITING that the motorcycle, trike conversion, and any accessories are all covered in the case of a total loss claim with your policy.

State Farm is one of them…

They go by the VIN only and issue a policy……no mention of trike conversion, accessories or optional equipment. Their rate is very reasonable for a reason.

They will NOT put anything about a trike conversion $$ or optional equipment in the issued policy.

Make sure you know what you have before you need to file and claim and then you find out different than you thought.

You are absolutely correct, IF you are insuring through a company that does not understand what they are insuring. That's why it's very important to deal with an individual/company that can and will provide the correct coverage. Trike conversion kits are unique (and expensive) in the motorcycle market. Basic motorcycle insurance just doesn't cut it. You need to make sure your policy is written so that you are covered for the investment you have made. That's YOUR responsibility. A good, knowledgeable agent/company will get it right. In most cases, like mine, the trike kit will be insured as "accessories" and a value placed on that. I have my Honda "accessories" insured for a stated value of $18,000. That is above and beyond the value of the motorcycle. And to prove the "accessories" value for insuring, my insurance company required pictures from all 4 angles of my trike.

If you are dealing with a company/agent that does not take this approach for insuring your trike conversion, you are probably, indeed, underinsured..... Jim

BigMick · Jun 7, 2022

cScjhb said:
You are absolutely correct, IF you are insuring through a company that does not understand what they are insuring. That's why it's very important to deal with an individual/company that can and will provide the correct coverage. Trike conversion kits are unique (and expensive) in the motorcycle market. Basic motorcycle insurance just doesn't cut it. You need to make sure your policy is written so that you are covered for the investment you have made. That's YOUR responsibility. A good, knowledgeable agent/company will get it right. In most cases, like mine, the trike kit will be insured as "accessories" and a value placed on that. I have my Honda "accessories" insured for a stated value of $18,000. That is above and beyond the value of the motorcycle. And to prove the "accessories" value for insuring, my insurance company required pictures from all 4 angles of my trike.

If you are dealing with a company/agent that does not take this approach for insuring your trike conversion, you are probably, indeed, underinsured..... Jim

In most cases it has little to do with the agent…..they are bound with the policies or lack thereof the company that issues the policy.

I’ve gone through many insurance companies to find the very few that actually will FULLY COVER A MOTRCYCLE + TRIKE CONVERSION + ACCESSORIES and state it in the issued policy.

They are few and far between.

It may be the owners responsibility to make sure you are fully covered, but when they hide or downright deceive the policy owner it’s not an easy task.

State Farm would verbally state all day long that I would be FULLY covered for my 2022 trike conversion with my current policy but would not state so in writing or put it in the policy…..and wanted no pictures.

I can pretty much guess what would happen in a total loss scenario……”where does it say that in the policy”……common sense prevails.