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Old 11-23-2012, 11:58 PM   #1 (permalink)
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Insurance premium increase after claim?

Say I took a spill on Thanksgiving day on the STR and there was no property damage and no injury. No police report was filed either. The bike isn't THAT bad (scraped tank, real tail section, bent bars and scraped fly screen) but would most likely lead to a total loss since it broke the steering lock tab. Forks have been checked out as well as the wheel and frame and everything is straight. Rode the bike home after the accident without issue. I haven turned it in to insurance because there isn't a whole lot of damage but repairing it is going to be expensive.

So I'm curious, those of you who have made a claim how much did your premiums increase? I'm 24, 25 in may, with 2 years riding experience and the only thing on my record is a ticket for driving too fast for conditions resulting in an accident from when I was 20. I also have a non-fault claim from when someone hit me but their insurance ended up paying in the end which I don't think would effect my own insurance?
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Old 11-25-2012, 01:36 AM   #2 (permalink)
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Originally Posted by kyle h View Post
Say I took a spill on Thanksgiving day on the STR and there was no property damage and no injury. No police report was filed either. The bike isn't THAT bad (scraped tank, real tail section, bent bars and scraped fly screen) but would most likely lead to a total loss since it broke the steering lock tab. Forks have been checked out as well as the wheel and frame and everything is straight. Rode the bike home after the accident without issue. I haven turned it in to insurance because there isn't a whole lot of damage but repairing it is going to be expensive.

So I'm curious, those of you who have made a claim how much did your premiums increase? I'm 24, 25 in may, with 2 years riding experience and the only thing on my record is a ticket for driving too fast for conditions resulting in an accident from when I was 20. I also have a non-fault claim from when someone hit me but their insurance ended up paying in the end which I don't think would effect my own insurance?
Kyle, from my experience, your rates will only increase if the claim results from an accident that was your fault. Lets say hypothetically that instead of the spill being caused by some mistake on your part, that the spill was the result of you coming into contact with a dear or bear or turkey or some other large animal who came at you out of nowhere. If that was the case, you might be able to get your bike fixed (less your deductible of course) and avoid a rate increase.
If you do turn it in and they determine you're at fault, the increase will depend on how much coverage you keep, and which vehicle your insurance company considers your primary vehicle. The rate should only increase on your primary vehicle, since other vehicles are considered 'extra' and are not driven/ridden all the time. So, if you wreck your bike, and your primary vehicle is a brand new chevy duramax with low deductibles on comp and collision, then that one at fault accident could increase your rates quite a bit because you are a young, more "dangerous" driver driving around in an expensive truck. On the other hand, if your primary vehicle is an old beater that you only keep liability coverage on, then that at fault accident will not increase your rates too much.
I have two trucks and a car, all paid for so i only keep liability coverage on them. I got a speeding ticket recently (which will normally be considered the same penalty-wise as an at fault, non-injury accident) and my total rates only increase by $60 every six months, or $10 a month.
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Old 11-25-2012, 03:23 AM   #3 (permalink)
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I have not found Fortuna's experience to be the case.

I have never filed a bike claim, so I can't speak to that specifically, but I have had rates go up on every insured vehicle if I gat a ticket or accident. I would also expect the, to go up even if I was in an accident but not at fault.

Basically, if there is even the slightest hint of an excuse to raise your rate you should expect they will jump on it.

I wish I could give you hard numbers, but I don't have any. As I said, I've never filed a claim on any of my bikes. But ABSOLUTELY they will raise your rates on all your vehicles if you have a claim or ticket on any of them.
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Old 11-25-2012, 03:39 AM   #4 (permalink)
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I have not found Fortuna's experience to be the case.

I have never filed a bike claim, so I can't speak to that specifically, but I have had rates go up on every insured vehicle if I gat a ticket or accident. I would also expect the, to go up even if I was in an accident but not at fault.

Basically, if there is even the slightest hint of an excuse to raise your rate you should expect they will jump on it.

I wish I could give you hard numbers, but I don't have any. As I said, I've never filed a claim on any of my bikes. But ABSOLUTELY they will raise your rates on all your vehicles if you have a claim or ticket on any of them.
Zelatore, you're right, I probably shouldn't have generalized. I can only speak for my insurance company, who does not hold it against you if an accident is not your fault, and who only assesses rate increases due to infractions on your primary vehicle, and not secondary vehicles. Other insurance companies may have different policies, and different states likely have different regulations governing those policies.
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Old 11-25-2012, 09:17 AM   #5 (permalink)
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I crashed my Sprint 2 years ago, the insurance company totaled it (but I put it back together), on a 4 bike policy, my premium only went up $40, I was surprised.
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Old 11-25-2012, 11:14 AM   #6 (permalink)
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Quote:
Originally Posted by kyle h View Post
So I'm curious, those of you who have made a claim how much did your premiums increase? I'm 24, 25 in may, with 2 years riding experience and the only thing on my record is a ticket for driving too fast for conditions resulting in an accident from when I was 20. I also have a non-fault claim from when someone hit me but their insurance ended up paying in the end which I don't think would effect my own insurance?
Did about $1500 damage to one of my Tbird Sports and my premium (policy has $500 deductible comp and collision) went from $230 to $250 for a couple of years. However, at your age I'd pay for the accident yourself if you can afford to. Under 25 is a tough age to be with an automotive insurance company. At that age, they'll raise your rates in a heartbeat.
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Old 11-25-2012, 12:24 PM   #7 (permalink)
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Did about $1500 damage to one of my Tbird Sports and my premium (policy has $500 deductible comp and collision) went from $230 to $250 for a couple of years. However, at your age I'd pay for the accident yourself if you can afford to. Under 25 is a tough age to be with an automotive insurance company. At that age, they'll raise your rates in a heartbeat.
Painfully true. I'm over 40 now and haven't tested the waters with a claim recently but I still cringe knowing how much they love to get me for my semi-regular speeding tickets.

I wish the OP could simply go to his insurance co. and ask them, but A- I would fear they would somehow use that to raise the rates regardless, and B- I wouldn't trust them to give me a straight answer anyway.
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Last edited by zelatore; 11-25-2012 at 12:27 PM.
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Old 11-25-2012, 10:14 PM   #8 (permalink)
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I went ahead and filed a claim. My deductible is $250 and there is about $1700 in damage not counting the frame. The way I saw it was that even if my rates went up 40% a year (additional $200/yr) it would still take about 7 years to offset the difference. I'm pretty sure they'll total the bike because the steering stop got busted and its considered part of the frame.
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Old 11-26-2012, 02:58 AM   #9 (permalink)
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I work in insurance and can say a not at fault accident can raise your rates. However underwriting is very complex so it is never a guaranteed rate hike even for at fault accidents. Its weird what can go into rate changes.
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Old 11-26-2012, 01:24 PM   #10 (permalink)
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Quote:
Originally Posted by kyle h View Post
I went ahead and filed a claim. My deductible is $250 and there is about $1700 in damage not counting the frame. The way I saw it was that even if my rates went up 40% a year (additional $200/yr) it would still take about 7 years to offset the difference. I'm pretty sure they'll total the bike because the steering stop got busted and its considered part of the frame.
I don't doubt you made the right decision, but keep in mind any other vehicles you have will likely see an equal increase. If you only have the bike it's a no-brainer. But if you've got a truck, a car, a boat, a couple of bikes...it adds up fast if you raise all your stuff a few % for 3-5 years.

They'll get their money one way or another!
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