Just got my renewal invoice from Progressive. $1607 for my four bikes (Valkyrie, CTX 1300, VTX 1300 and VTX 1800). I called them to see what I could do. As stated before, I have maximum liability limits because I want maximum uninsured motorist limits, and the two have to be the same. 1 in 7 drivers is uninsured in Virginia and I am not going to get hit and have no recourse. And let this be a lesson to you guys who only carry state minimum liability. You get hit ny an uninsured motorist, you're out of luck. So think about it.
My first inquiry was whether I could reduce the liability on the two VTX's since I'm not riding them at the moment and just want to sell them. Nope, have to keep the same limit on them as I have on the others. Then I asked if I could write a separate policy on them with Progressive but with lower limits. Nope, can't do that - one policy per household.
Then I asked if I could take the two VTX's off and place them with another carrier. They said yes. I'm being billed $675 for liability on the two, but if I take them off, it only saves me $300 because the premiums on the Valk and the CTX then increase with only two covered bikes. So that's hardly worth doing, and an unreasonable response by the carrier. I guess that's how they justify charging for all your bikes when you're only riding one.
I had loss of income coverage, but since I'm not working, I'd never collect a benefit on that, so I took that off and saved maybe $65. I'm paying about $60 for $1,000 of medical expense benefit, which is not a very good value although nice to have. So I took that off.
Meanwhile, I am not getting their best rate because (as is also the case on my auto and homeowner policies) I have no recent credit or loans. So, I'm debt free entirely, I pay my bills on time and have all my life, my driving record is spotless, and I take care of everything I own. Yet, some dufus who is deep in debt and barely scraping by gets a better rate than me! They'd rather I have a car payment. It makes NO sense. But I suffer because I'm the best risk they could possibly have. It angers me every time I get a renewal.
So, my only option is to shop and see what I can get elsewhere. Hate this.