Talk to me about insurance!

[ar0ck]

So the time has come for insurance renewal conveniently at the same time in May for all three of my vehicles. I currently use IFA insurance for my two cars which is a small New Jersey based company. I've had issues with them as far as billing is concerned but nothing else. I also have Progressive for the motorcycle which I'd really like to get rid of because their full coverage + health is $1,000 over what I payed for the bike.

I'm 23, a full time college student, with an average credit score, with a 1995 Z28 Camaro, 2001 Chevy S10 & 2008 Yamaha R6-S. I want to add collision to the Camaro with a reasonable deductible, basic liability only on the S10 & full coverage with health on the motorcycle. Every vehicle is in my name and I only owe money on the motorcycle.

Any suggestions? I don't mind splitting up the motorcycle insurance if its absolutely necessary but I'd like to fit them on the same bill.

[Little G]

If you qualify, NJM is the cheapest around and best customer service.

g

[BonzoHansen]

Originally Posted by Yogi

Good insurance will pay you money, and that’s as good as cash.

Ok, 1st find out book value on the Z28. The cost of collision may not be worth the value of the coverage. If the insurance company says it is worth $2000, you have a $1000 deductible and it costs $250 per year, well, that is really $750 in coverage. That value gets even worse every year.

My gut says liability only on the Camaro & truck, and whatever insurance is required on the bike (lien holder likely requires comp & collision). I run higher than minimum liability limits because I want to be able to afford to smash into a Ferrari. In my case if the car insurance runs out my house is next in line.

How’s the license? Points? Accidents/insurance points?

See if you can get in at NJM. Try all the names, NJ Cure, Geico, etc. See who has what to offer. Ask questions. Compare answers.

[ar0ck]

Originally Posted by BonzoHansen

How’s the license? Points? Accidents/insurance points?

I received 2 points in March of 2003 for doing 45 in a 25. After that no moving violations, just a couple of parking tickets & no front plate tickets over the years. Most recently I received a "Improper Maintenance of a Speedometer" in NY state which was a $135 fine on my motorcycle.

Only accident I've ever had was when the old lady backed into my parked Camaro in December of 2007. Her insurance footed the bill.

I'll have to try NJ Cure they have been advertising like crazy, plus I hear NJM is very difficult to get into, but I'll obviously be giving everyone a call.

[Little G]

Yeah, to Bonzo's note, I would definitely recommend getting the additional coverage. I think the minimum liability in NJ is about $30K which isn't much when you factor in possible hospital bills caused by a wreck.

I just switched over to NJM and opted for $500K in liability. It was a tad less than I was paying with Geico for $35K liability.

You are eligible to apply for auto coverage with NJM Insurance Group if you or your spouse are:

Currently employed by a member organization of the New Jersey Business & Industry Association; or
Currently employed by the State of New Jersey; or
The named insured or resident spouse on a current or previous NJM policy for Personal Auto or Homeowners; or
A current or previous operator of a vehicle insured under an NJM Personal Auto policy.

Also, you and anyone who lives at your house should be free from moving violations for at least three years.

g

[ar0ck]

Just got off the phone with State Farm, put all my vehicles onto one policy and saved about $400. Bike now has full coverage with a nice $100 deductible, and the Camaro & S10 stayed the same. The real thing that sealed the deal was how much less it was for the motorcycle to be insurance with the other two vehicles. I'm paying $233/Month for all three. Found the broker highly recommended on one of the local Motorcycle forums!

If anyone shopping, definitely give Peter Gigantino with State Farm a ring @ (908)595-0679

[ryanfx]

35K liability is really low, for a serious hospital visit you might as well not have any liability at all!

[JW]

NJ Rider always had best prices for me with my Bike.

JW

[1_Hot_SOM_WS6]

NJm is really hard to get into. If your a student then you more then likely wouldnt have the membership anyway, unless you were prev listed on an NJM pol with your parents.

Originally Posted by Little G

If you qualify, NJM is the cheapest around and best customer service.

g

Glad we keep you happy

[ar0ck]

Originally Posted by JW

NJ Rider always had best prices for me with my Bike.

JW

I'm paying a few hundred dollars less than what Rider quoted me for by putting the two cars under the same policy.

[maroman88]

make the Camaro a limited use pleasure vehicle... i pay $300/yr for my 88 with and agreed value of $8500, you just need to have a DD, ur s10