Mine is combined, I know that because my 'Home & Highway' policy wouldn't cover my bike (Roadstar Warrior) and they had to do a separate policy as you describe.snowbelt said:
damn some of these prices seem REALLY high! I am paying less than half that to insure a 112HP 30K Harley. Like I said...I hate insurance companies!
flyingpig
Expert
The price of your insurance should be based on the actual price you pay for the sled. The deductable amount plays in the cost and also if you have other insurance like cars and home with the insurer. I have full coverage with $500 deduct. and for the Apex GT it's $336, and the Vector GT is $299.
sifty
Extreme
Greenmtnpss wrote "This is what I found. Called my insurance company and gave them the size of the motors in cc's for my RTX & wifes Vector and they called back and the price was around 350.00 full coverage attached to homeowners."
This is what I was referring too. I had a vector last year and my insurance was half what it is this year. The attack is same cc just more horsepower as you guys all know. The symbol rating that the company gave it only leaves two sleds with a higher symbol MachZ and 1000 Summit. As you guys compare rates remember that were you live comes into play. If you live in the middle of Illinois I would expect to pay less for snowmobile insurance than if I lived in Hurley WI- As I would expect that a snowmobile in Hurley will get alot more miles than a Ill sled would. That and how there are different laws in each state for Insurance companys and your driving records will affect your rates.
This is what I was referring too. I had a vector last year and my insurance was half what it is this year. The attack is same cc just more horsepower as you guys all know. The symbol rating that the company gave it only leaves two sleds with a higher symbol MachZ and 1000 Summit. As you guys compare rates remember that were you live comes into play. If you live in the middle of Illinois I would expect to pay less for snowmobile insurance than if I lived in Hurley WI- As I would expect that a snowmobile in Hurley will get alot more miles than a Ill sled would. That and how there are different laws in each state for Insurance companys and your driving records will affect your rates.
sifty
Extreme
Flyingpig- I don't think that its just the cost of the snowmobile-although that does come into play. Its just like a crotch-rocket motorcycle is more to insure than a full dresser is and the crotch rocket is less expensive. While cost is a big factor I think horsepower and top end also must have a big effect on the rating symbol. As I stated earlier my vector was half again cheaper to insure and cost me about 1700.00 less money to purchase. What it comes down to is that the Insurance companies are making huge money- Yet a person can't afford to live without it. And with no snow around here and none in the forecast it makes a guy wonder why he even needs to insure them at all.
APEX 21
Expert
Nobody except military members can beat Liberty Mutuals price$160 full coverage and my trailer too. I had to switch everything over.
craze1cars
VIP Member
Comparing insurance rates across state lines is futile. One of the biggest reason Michigan has extremely high rates is becuase of PIP and no-fault laws. It's an absolute nightmare of a state for insurance companies to make a profit in.
I've worked for 2 major insurance companies as an auto appraiser over the past 12 years. BOTH of those companies completely pulled all business out of Michigan because they couldn't make a profit despite having insurance that was sometimes triple the rates they were charging in other states.
Can't blame the deep-pocket insurance companies for that one....blame falls on Michigan's elected officials and the state insurance department. They've created an insurance nightmare up there with the way the laws and regs are structured. Even though rates are sky high, I can pretty well guarantee you that most of the insurance companies operating in Michigan are operating at a loss every year.
I'm less familiar with Minnesota, but I do believe that may be a PIP and/or no-fault state as well....either of those can result in very high rates. Those of you in the industry can correct me if I'm wrong about MN.
As for Umbrella policies, a few earlier posters have them confused but things are mostly cleared up. They are a separate policy and are NOT included with homeowners or anything else. Most umbrella policies do not give you any additional coverages, but they increase the dollar LIMIT of your regular liability coverages on all your other policies (car, boat, snowmobile, homeowners, motorcycle etc.) to usually $1 Million, $2 Million, or $5 Million depending on what you buy. Usually you need to buy a certain base coverage (like 100/300 or 250/500) on ALL your other policies first, then you can tack on an umbrella that expands them ALL to your umbrella limit.
Those of you who have a lot of assets (nice home, 401k balance, pension, snowmobiles, cars, your own business, etc.) will definitely want an umbrella. God forbid you accidentally kill the primary breadwinner of another family in your car, snowmobile, boat, whatever, that multi-million dollar lawsuit will laugh in the face of your $100,000 to $500,000 policy limits that you thought were sufficient. As soon as those are paid out, they will liquidate your assets and garnish your future wages. The umbrella can prevent that, usually for under $200 a year. If your company doesn't offer an umbrella and you have some assets, do what others here have done and CHANGE COMPANIES. Those of you who don't have a lot of assets, or have everything financed to the hilt, will frankly (and unfortunately) probably be better off just declaring bankruptcy in such a situation. But those of you with some net worth will not have that option....they'll liquidate your assets first...
Just my 2 cents.... How's that for a first post?! I'll be chiming in once in a while here.
Later!
I've worked for 2 major insurance companies as an auto appraiser over the past 12 years. BOTH of those companies completely pulled all business out of Michigan because they couldn't make a profit despite having insurance that was sometimes triple the rates they were charging in other states.
Can't blame the deep-pocket insurance companies for that one....blame falls on Michigan's elected officials and the state insurance department. They've created an insurance nightmare up there with the way the laws and regs are structured. Even though rates are sky high, I can pretty well guarantee you that most of the insurance companies operating in Michigan are operating at a loss every year.
I'm less familiar with Minnesota, but I do believe that may be a PIP and/or no-fault state as well....either of those can result in very high rates. Those of you in the industry can correct me if I'm wrong about MN.
As for Umbrella policies, a few earlier posters have them confused but things are mostly cleared up. They are a separate policy and are NOT included with homeowners or anything else. Most umbrella policies do not give you any additional coverages, but they increase the dollar LIMIT of your regular liability coverages on all your other policies (car, boat, snowmobile, homeowners, motorcycle etc.) to usually $1 Million, $2 Million, or $5 Million depending on what you buy. Usually you need to buy a certain base coverage (like 100/300 or 250/500) on ALL your other policies first, then you can tack on an umbrella that expands them ALL to your umbrella limit.
Those of you who have a lot of assets (nice home, 401k balance, pension, snowmobiles, cars, your own business, etc.) will definitely want an umbrella. God forbid you accidentally kill the primary breadwinner of another family in your car, snowmobile, boat, whatever, that multi-million dollar lawsuit will laugh in the face of your $100,000 to $500,000 policy limits that you thought were sufficient. As soon as those are paid out, they will liquidate your assets and garnish your future wages. The umbrella can prevent that, usually for under $200 a year. If your company doesn't offer an umbrella and you have some assets, do what others here have done and CHANGE COMPANIES. Those of you who don't have a lot of assets, or have everything financed to the hilt, will frankly (and unfortunately) probably be better off just declaring bankruptcy in such a situation. But those of you with some net worth will not have that option....they'll liquidate your assets first...
Just my 2 cents.... How's that for a first post?! I'll be chiming in once in a while here.
Later!
sifty
Extreme
great 1st post and welcome to the site 
Redcandy05
Extreme
Well said crazie, and welcome to the site.
Ride-N-Rice
Extreme
Insurance costs
Mark.
Welcome to the site, new blood is goodcraze1cars said:
Mark.
