Just got my insurance renewal from State Farm /Certa Insurance Company and my rate for a 2011 BMW S1000RR went from $1440.00 per year to $4001.00 per year effective February 2016.
This represents a rate increase of 275%.
It should be noted that my $1440.00 rate included a $400 discount for attatching an auto to the policy....with out the car policy the rate would have been 30% higher or around $1840.00 per year. The $4001.00 quote also included the discount for having an auto policy with them.
I did not obtain the 2016 quote with out the car discount attached......scared to find out
I was advised that
my new rate was the best rate a State Farm customer could expect as I had never filed an insurance claim, no tickets, 2 decades of continuous motorcycle coverage and have safe storage in a garage.
My agent confirmed that all Super Sport motorcycles insurance rates are going up 200-300% with all January 2016 and later renewals.
This rate included an additional 15 % surcharge for
targeted brands of motorcycles.
I inquired
which brands were targeted by Certa Insurance and was told this included BMW, Harley Davidson & Triumph.
I obtained a quote for a 2015 Triumph Tiger Explorer and the new rate is $1752., and for a 2015 Harley Davidson Fat Boy $2652.00 (remember these are the best possible rates one can attain...and these rates include an auto attatched to the policy for the discount,...others rates will likely be higher under the new pricing structure.