State Farm Rate Hikes in April?

ShiftyEh

ShiftyEh

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Has anyone else heard of this from their State Farm Agent:

"In regards to changes, they are internal State Farm changes. They are predicting a rate increase on motorcycles (but I do not know the extent) as well, they are going to start looking at a number of other factors such as age, a closer look at driving record and experience. Previously all that was taken into consideration was CC’s on the bike and age based (under age 25 or over age 25).
As soon as I have the rates, I will email you more details. We should have everything by April 8[SUP]th[/SUP]."

I was pricing out different bikes for when I hit 25 and then received this about a meeting my agent attended last week.
 
Gaggu P said:
I guess its good I've got my policy for the year?
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No kidding! I cancelled my insurance for the month of February as my seals were leaking so I wasn't riding, the bike was inside so the chance of it being stolen was quite low, and because I signed on in October I got a nice refund back from them as well. I literally talked to my agent 10 minutes ago to put the insurance back on the bike, I'm just waiting to hear back from her. Looks like I'll be getting in just under the wire
 
Hmm that's strange.. I was told by my SF agent that cancelling your policy for the winter almost always costs you the same :S
 
It depends when you start your insurance. He started in October so his premiums werent going to cost him to cancel.
Glad I just put the new bike on for the year two weeks ago and wont see the hike if it happens
 
e90 said:
Hmm that's strange.. I was told by my SF agent that cancelling your policy for the winter almost always costs you the same :S
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November - February are 2%/month of your premium.
 
daisoman said:
This sux. Everything goes up except wages.
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Ahhh the beauty of people getting robbed through inflation, world's greatest scam :)


BTW you guys know the beauty of all this? Benefits have been greatly reduced so you're actually paying more for less coverage hahahah
 
Paul1000RR said:
Ahhh the beauty of people getting robbed through inflation, world's greatest scam :)


BTW you guys know the beauty of all this? Benefits have been greatly reduced so you're actually paying more for less coverage hahahah
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The problem is that accident benefits and liability coverage don't go up with inflation, so you pay more for less.
 
Paul1000RR said:
ummm if you read the second line in my post you'd have realize i wrote that lol
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Ah yeah, we're both saying sort of the same thing. Even if they didn't reduce the benefits though, the actual numbers stay the same, so why should rates go up. Can't wait until the government has enough of it and we go public.
 
drumstyx said:
Ah yeah, we're both saying sort of the same thing. Even if they didn't reduce the benefits though, the actual numbers stay the same, so why should rates go up. Can't wait until the government has enough of it and we go public.
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you're gonna be waiting a while
 
i've been with statefarm since 2008, and i've always seen rates go up, little by little ... i'm used to it ... this news is no surprise to me, i'm sure they'll do something with the rates in april.
 
ShiftyEh said:
Has anyone else heard of this from their State Farm Agent:

"In regards to changes, they are internal State Farm changes. They are predicting a rate increase on motorcycles (but I do not know the extent) as well, they are going to start looking at a number of other factors such as age, a closer look at driving record and experience. Previously all that was taken into consideration was CC’s on the bike and age based (under age 25 or over age 25).
As soon as I have the rates, I will email you more details. We should have everything by April 8[SUP]th[/SUP]."

I was pricing out different bikes for when I hit 25 and then received this about a meeting my agent attended last week.
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Dunno bout you, but I'm pretty sure my driving record was taken in to account...
 
man. I really hope they don't change too much. I bought my new bike based on my quote from SF. If it goes up to what the other's are I'm so screwed.
 
PLau said:
Dunno bout you, but I'm pretty sure my driving record was taken in to account...
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They meant the class of the motorcycle and "M" experience wasn't taken into account.
 
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