Acv vs agreed price?

[FROG MAN]

I have begun shopping for new MC insurance. I switched auto insurance companies last August. My MC insurance expired Sept 1'st of last year and I never renewed it.

 

My question is shopping for coverage on my 89 gives me a No coverage option or a ACV option. The 84 lets me choose No coverage or Agreed Price for things like collision etc. The Agreed Price I like after all you know what your scoot is worth to you and the ACV value doesn't.The other option was for accessories but I don't reallly have any on the 89.So it seems to me the 84 can be insured for more then the 89?

 

I probably won't make a move until about March 1'st just looking for now and monitoring the finances.Darn hip joint has been giving me some trouble to.

[KIC]

Who are you dealing with that gives you those options ? I have State Farm on my KLR650 and had GEICO on my two TW's that I just sold. When I went to cancel the GEICO they quoted me musch better prices on both bikes than State Farm.

 

I am not thrilled with what I have heard about GEICO but I have not had a claim with them. The prices are much lower though. They also gave me many options on "custom designing the policy as to amounts. I haven't made a decision yet.

 

 

The only company I WILL NOT use is Progressive. If you love your country and want to save it from the Socialist Marxists...Google the owner of Progressive and what he does with the money you pay him through your policies.

 

Here ... I will save you the time:

 

http://www.snopes.com/politics/business/peterlewis.asp

[bongobobny]

Well, I agree about Progressive but not necessarily for the reason KIC gave but who knows, maybe it is true. I do not like Progressive because I feel they are scumballs and lowlife when it comes to settling claims honestly and more importantly fairly!

 

I have barebones coverage on the '84 costing me $86 per year because I don't ride it lately, but for the trike I have Nationwide only because they insure our Autos and home as well. Never in issue with them and NEVER a problem with a claim. As a matter of fact I had to use them to sue Progressive when one of their "clients" made a left hand turn in front of my wife nowhere near an intersection...

[twigg]

Accept the fact that they all will try to pay out as little as possible, and go from there. Some are going to be better than others, but there isn't much in it.

 

Geico I would rule out simply because they have a hidden clause that restricts motorcyclists to 500 miles per day. They may or may not have dropped this now, but the fact that they thought it a good idea makes me think that they really neither like nor understand motorcycles.

 

Mine is with State Farm. It is Liability only and the limits are 300 - 500 - 300. That costs me a whopping $50 a year. I'm happy with it. I've never had to claim but the local agent is easy to work with.

 

Worrying about the political affiliations of the company principals is a road to madness. Although the earlier comments do have me wondering about a switch to Progressive Not everyone agrees about the best way forward for our country and in any event, we are talking about insurance!

[KIC]

Thanks for the insight on the GEICO 500 mile deal ...I'll check with them on that when I call them back.

 

Sorry about the mixture of Politics and insurance but the owner has supported a lot of anti American groups like the ACLU. I just don't want my money going to an Anti American, anti capitalist scum bag.

Edited January 3, 2012 by KIC

[twigg]

Thanks for the insight on the GEICO 500 mile deal ...il check with them on that when I call them back.

 

Sorry about the mixture of Politics and insurance but the owner has supported a lot of anti Ametican groups like the ACLU. I just don't want my money going to an Anti American, anti capitalist scum bag.

 

Let us know about Geico. They may have quietly dropped that clause, and they might not.

 

This Board has regularly been down the road of political commentary in the past. All it does is get in the way of bike lovers enjoying each other's company. Friendly banter over things we have in common rather than fighting over things we disagree about.

 

I could, and would normally challenge your comments about the ACLU, etc. But not here, not now. If you want that chat go find me elsewhere on the Intertubz.

 

Here I enjoy the company of guys I would be standing the other side of the barricades from .... and I like that about this place.

 

just sayin'

[Steel Horse Cowboy]

I had Dairyland ins for several years. The reason I switched to another co. was because Dairyland doesn't insure vehicles that have rebuilt titles. Both my scooters that I have now have rebuilt titles. I had full coverage on both for $114.00 per year with Dairyland.

 

I now have full coverage with Markel American Ins. for $290.00 per year with one at fault accident counting against me. www.markelamerican.com

 

If your scooter doesn't have a rebuilt title it might save you some money to check out Dairyland. If you have good credit that is a plus and will get you a better rate.

 

C.R.

[KIC]

I had Dairyland ins for several years. The reason I switched to another co. was because Dairyland doesn't insure vehicles that have rebuilt titles. Both my scooters that I have now have rebuilt titles. I had full coverage on both for $114.00 per year with Dairyland.

 

I now have full coverage with Markel American Ins. for $290.00 per year with one at fault accident counting against me. www.markelamerican.com

 

If your scooter doesn't have a rebuilt title it might save you some money to check out Dairyland. If you have good credit that is a plus and will get you a better rate.

 

C.R.

 

Can't say I've heard of them... the big question is how are they on claims ? That has been the key for me with State Farm. They never gave me any problems with the few claims I've had over the last 26 years, but they are more expensive.

 

I think I'll also check with USAA tomorrow.

[Steel Horse Cowboy]

I haven't had (and hope not to have) a claim with Markel.

I totaled our 99 RSV in Sept. 2010, didn't have any problem with Dairyland. They sent out an adjuster, he took pictures and asked what add-ons I had and what their value was. I bought the bike back to rebuild, so that amount was deducted from settlement. Only later did I find out that they didn't insure vehicles with rebuilt titles. Thats when I started looking for another ins. co. Otherwise I would still be with Dairyland.

 

C.R.

[ediddy]

If you have a choice between acv and agreed value, the agreed value is the best option. Actual cash value is the value of the vehicle at the time of loss. There are several factors that determine the acv. The condition and mileage or the most common. The acv is what someone would pay for the vehicle if it was for sale on a sales lot. The agreed value starts with a vehicle valuation that's agreed upon between the insurance company and the customer at the time the policy begins. If there is a total loss or theft, the payout is for that already agreed upon dollar amount. No misunderstanding. No argument. No angry customer. So you can see the agreed amount option is the best.

[yamtom]

Hi,

I am with the guy that said that if you try to hone your politics too much in the economic sphere,,, there lies madness. After all the hoopla, the last I knew, Geico was owned by Berkshire Hathaway, which is headed by that socialist Warren Buffet, who thinks that even the rich should be paying a fair share of taxes.

 

I am going to stick with the insurer that pays any claim properly and fairly and doesnt charge me an arm and a leg to do it. I have Allstate right now, but prolly will be leaving them after having what I thought would be ,,,a homeowners claim ,,,be put on the back burner for way too long. They couldnt answer phone calls for more than a week at one point, and only returned my calls, when I left a message saying that,,, quote,,, the good news is, I have no claim to pursue due to the guilty party making me whole. unquote. That one got an enthusiastic reply the next day.

 

I like agreed on value too, I have it on my old Vette and sure hope that it pays off if needed, since its the first time Ive ever had that sort of insurance.