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Rider Insurance- Damn you squids!!!

7K views 28 replies 23 participants last post by  aribaban 
#1 ·
FYI, I just got off the phone with Rider Insurance. If you have their insurance you will know that they classify the street triple and daytona 675 as a cruiser. Well that is all about to change.
I was just told that as of July 1st or so, they plan to reclassifying our bikes as a full sport bike. That means our rates will be going up. I asked why and she said it is because of increased claims and costs. They could not tell me how much it would go up, but I assume it will double at least. I am paying $280 a year now for full coverage and being 30 years old.
 
#2 ·
lol, i pay 2800$ a year here in stockholm sweden, i'm 10 years older than you.
This is the cheapest rates i could find for full coverage, most insurance companies here doesn't want to cover sportsbikes wich are in the highest of 7 insurance classes.

They cannot deny anyone by law so instead they discourage owners but jacking the prices up to insane levels. As an example : 2 months before my bike was delivered the triumph branded insurance ended, the insurance company that was their partner backed out and they no longer offered discount for triumph bikes. My qoute from them went up from 2300$ to 14400$ !!

Utterly insane, if you're below 25 and live in one of the larger city's and buy a new sportbike you're lucky if you can insure it at all but it will cost you as much as the price of the bike each year or more.
 
#3 ·
Yea my insurance is 1400 a year...im 23.
 
#4 ·
I still occasionally hit up the FZ6R forum I started out with, and there's a thread on there about that bike having the same reclassification by Rider Ins. It only has 65hp! Same reason was given. Sounds like they're just losing too much money and are passing it on to everyone. I mean, if that bike is a full on sport bike, what does that make a S1000RR? Do they have a class above Sport Bike?
 
#5 ·
Hypersport (sounds cool too) but I don't know that 100%..only been told
 
#7 ·
I don't know what Rider's deal is, I think they either hate sport bikes or just me.

I called to switch over to full coverage on my 05 R1; they quoted me $1,800 a year! I declined then called back a few months later and they quoted me $1,200, still ridiculous if you ask me. I also wasn't happy that their prices were all over the place. I'm assuming they have some sort of system that figures it out though. Long story short I called literally every insurance company to get the cheapest bundle deal(my car and two bikes, a cruiser and a sport bike). I called back my insurance company, USAA, and was going to cancel because Progressive gave me the best price. They then countered by giving me a quote for my car(liability only) and both bikes with full coverage...$950 a year! No other company could come close to that. I asked how the hell they could give me such a deal and he said it wasn't so much the price, it's that they didn't want to lose me as a customer. My parents have used them for god knows how long and I have had them since I got my license.

Moral of the story; shop around.
 
#8 ·
I called back my insurance company, USAA, and was going to cancel because Progressive gave me the best price. They then countered by giving me a quote for my car(liability only) and both bikes with full coverage...$950 a year!
When did you do this? When I was checking with USAA about a year ago they told me they do not insure motorcycles, only cars and houses. USAA tried shipping me to progressive for the bikes and all I remember is that it was outrageous so I stuck with State Farm. I'm just under $500 year with the 13 D675R.
 
#12 ·
I'm from NJ and have a $500 deductible with $100k/$300k/$50k limits and my premium was $364/yr with Rider. I got the letter from Rider that it was going to go up to $1,111.85/yr after my policy ends in August! I will be switching to Progressive and will be paying $494/yr.
 
#13 ·
Oh they gave you a price. I couldn't get them to tell me unless I sign a new policy. I have the same limits as you and deductible and I pay $280 a year. Either way it looks like I am going to be switching in a year.
 
#17 ·
Thought? That is unphukingbelievable
 
#18 · (Edited)
Wow. Always heard good things about Rider's and even considered changing to them at one time. Glad I stuck with state farm. 2012 STR $325/year full coverage with no citations in over ten years at age 36. 250 deductibles on collision and comprehensive. They also just sent a notice with this year's premium that let me know they now cover safety gear. I thought they were ripping me off when I called to get rates when I originally purchased the bike...guess not.

I would wager that Rider's now stands to lose even more money than they could have been paying out claims in lost customers. I don't know of anyone who will take an increase like these listed and stay with the company. 300 to 400%??? Really?

Around here, it's usually the Harley bar-scooters that crash.

Hopefully the rest of the insurance industry doesn't follow suit on this.

Edit: I don't even have Rider's and I just dropped them an email about what bullshit this is.
 
#19 ·
I had the same B.S. problem with rider. I was paying about $350 a year for full coverage on a 2012 675. I got the letter about the reclassification, and it basically said when its time to renew, you will find out the price. Well it went from $350 a year to $981!. I have a perfect driving record, no accidents, no tickets, and im 34.

Needless to say I dumped them and ended up going with progressive, and it costs me $540 a year... AND they insure upto $3,000 worth of accessories at no extra charge.
 
#20 ·
Response I got from Rider's after questioning the hikes:

Good Morning Mr. xxxxxxxx:

We appreciate you taking the time to provide us with your feedback. Rider’s Motorcycle / ATV Classifications are based on the insurance risk associated with the particular makes and models. This is something that is reviewed periodically and adjusted according. Unfortunately, due to high losses associated with certain makes and models, they were reclassified and are now considered a high performance vehicle under the Rider Insurance guidelines.

Thank you for your concern for your fellow riders.

Rider Insurance

If vehicles can be "re-classified" at any time to high performance, who determines which model is "high performance"? If Groms start squidding left and right, will they be considered high performance? Wonder what the parameters are for inception? Seems as though poor riding and high crash rates dictate as such. I assume they can't use "high crash probability" due to manufacturers crying fowl.
 
#24 ·
Response I got from Rider's after questioning the hikes:

Good Morning Mr. xxxxxxxx:

We appreciate you taking the time to provide us with your feedback. Rider's Motorcycle / ATV Classifications are based on the insurance risk associated with the particular makes and models. This is something that is reviewed periodically and adjusted according. Unfortunately, due to high losses associated with certain makes and models, they were reclassified and are now considered a high performance vehicle under the Rider Insurance guidelines.

Thank you for your concern for your fellow riders.

Rider Insurance

If vehicles can be "re-classified" at any time to high performance, who determines which model is "high performance"? If Groms start squidding left and right, will they be considered high performance? Wonder what the parameters are for inception? Seems as though poor riding and high crash rates dictate as such. I assume they can't use "high crash probability" due to manufacturers crying fowl.
I see where they're coming from, I mean they have to cover their a$$. But in my opinion there's absolutely no reason to use them for insurance; their prices suck and every time I've called I was never impressed with their customer service.
 
#23 ·
They are doing this for a lot of bikes. Really bad move on their part. I can see them losing a lot of business. They basically said FU to European motorcycle riders.
I was on the fence about Rider after my last claim, which was not my fault. I was hit from behind when stopped. They basically were going to give me $2000 less than what was due. Rider was going to give me $25 and hour labor since I was working on the bike myself and prorated all my motorcycle gear. I was told if I brought it to a dealership they would pay the full labor price. I went to the "at fault" insurance company and they took care of me plus more. I got the check 4 days later. I will never use rider ever again after this BS.


Motorcycle Reclassification - Effective 6/1/14 the following motorcycles are being reclassified to sport / high performance motorcycles for new business and renewals:

Aprilia: RS Series, Dorsoduro, Mana 850, Shiver 750 and the Tuono V4
Benelli: Tornado and Café
BMW: F800R, HP4, R1200R, K1300S, S100RR
Ducati: All Models
Honda: VFR
Hyosung: GT650 Series
Kawasaki Versys
KTM: Super Duke R1290, Duke 690, RC8
Triumph: Speed Triple Series, Daytona Series
Yamaha: FZ
 
#27 ·
My 08 daytona 675 used to cost me $298 full coverage when I was 22 my 2011 speed triple used to cost me $712 a year full coverage when I was 23 now I am looking at 2010 bmw s1000 and they told me well right now it will only be $646 for full coverage and you will pay what is left on on your policy term but in March when I renew it will cost me $1930 thats triple the amount of money Riders response we are still cheaper than other companies rates for your age and this bike.....bottom line is I believe it has nothing to do with the bike its all a number gave make their rates about the same as the rest
 
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