TD MM vs State Farm

[conundrum]

Decisions decisions...

So I'm currently in the process of getting quotes for my new 2011 CBR250R, and am currently debating between TD Meloche Monnex or State Farm. For reference, I'm a 30 year old male, not married, have had my G since 2003 but just got my M1 this month (with M2 and RTI this coming April).

TD - Quote is $986/year ($1000 ded) or $1012/year ($500 ded), collision & comp (either $1000 or $300), $1 million liability, and depreciation protection as well.

SF - Quote is $746/year ($1000 ded) or $917/year ($300 ded), collision & comp (either $1000 or $300), $1 million liability, but no protection beyond that.

From what I've heard from others, State Farm isn't the 'best' when it comes to making a claim, so I am almost siding with TD, at least for the first year of riding (I do like the thought of getting full MSRP if the bike is a write-off, as either then I can reassess riding, or use that money on a different bike). Anyhow, I just wanted to post here and see what others had to say, or what they'd do in my situation.

TD did also say that in the event of a claim, both my auto and bike insurance would be affected, whereas I am unsure if there would be a different with the bike with SF and the car with TD (I do figure a claim is a claim, no matter what the insurance company is that handles it).

EDIT: I should also add I did try Jevco, but they wanted over $1200/year, plus I think $70 for depreciation protection, so they were the most expensive of the three.

 

[jeffjones]

Decisions decisions...

So I'm currently in the process of getting quotes for my new 2011 CBR250R, and am currently debating between TD Meloche Monnex or State Farm. For reference, I'm a 30 year old male, not married, have had my G since 2003 but just got my M1 this month (with M2 and RTI this coming April).

TD - Quote is $1176/year, collision & comp ($500), $1 million liability, and I believe it has depreciation protection as well.

SF - Quote is $746/year ($1000 ded) or $917/year ($300 ded), collision & comp (either $1000 or $300), $1 million liability, but no protection beyond that.

From what I've heard from others, State Farm isn't the 'best' when it comes to making a claim, so I am almost siding with TD, at least for the first year of riding. Anyhow, I just wanted to post here and see what others had to say, or what they'd do in my situation.

I made a claim with State Farm when my bike was backed into and they paid me almost the price of my bike to fix it myself and I fixed it and pocketed some nice change for my labour costs

 

[fusion]

myself i'd go with the cheapest quote...

 

[OpenGambit]

You would pay 240 dollars more for TD? why?

if the answer is depreciation. you are paying 240 for depreciation.

if the answer is service... well thats a lot to pay for something that doesn't seem to be general consensus.

 

[zeniceguy]

state farm treats me good

 

[PLau]

There were many other threads regarding issues with making claims with TD as well.

I would probably go with SF cause of the cheaper rates as both seem to have claims issues.

 

[VifferFun]

From what I've heard from others, State Farm isn't the 'best' when it comes to making a claim, so I am almost siding with TD, at least for the first year of riding

I don't know where you heard that from. I would consider State Farm to be much better than TD (and a Claims Satisfaction survey conducted by FSCO in 2003 supports this). I would personally pay a small premium to be with State Farm over TD.

 

[Brian P]

I've been with State Farm for several years, and have had one claim. They paid me to fix my own bike (it would have resulted in a write-off had it gone through the dealer, and I didn't want that) - and that bike is still insured with State Farm to this day.

 

[1304cc]

I've been very happy with TD MM over the years. Claims have been low hassle, no stress, and the agents have always taken the time to hear us out. This was very important when we were at risk of having an "at fault" on our record. After hearing the whole story, they reversed it to "no fault." It's the communication and customer service that matters to me. I paid 70 dollars over SF's quote to stay with TD MM.

 

[jeffjones]

I've been with State Farm for several years, and have had one claim. They paid me to fix my own bike (it would have resulted in a write-off had it gone through the dealer, and I didn't want that) - and that bike is still insured with State Farm to this day.

I did the exact same thing when someone backed into my bike.

 

[PLau]

I've been very happy with TD MM over the years. Claims have been low hassle, no stress, and the agents have always taken the time to hear us out. This was very important when we were at risk of having an "at fault" on our record. After hearing the whole story, they reversed it to "no fault." It's the communication and customer service that matters to me. I paid 70 dollars over SF's quote to stay with TD MM.

Wouldn't this depend on whats on the police report?

 

[Marbleboy]

I would go with the price. Customer service/claims process are also important factors but we are talking about $240 of difference. (That's about 24% of difference)

 

[jonl]

In auto insurance, for claims, JD Power rates State Farm 4 stars, TD 3.

I am about to switch reluctantly from SF to TD because I can save 30% My SF agent is great, and he'll keep my other business, but with 2 bikes, I would have to spend $700 more / year to stay at SF.

 

[ViperZ]

I am with TD MM. If you're affiliated with certain professional groups (like PEO), no other company can touch TD MM insurance rates on cars, but their rates on bikes are just good (i.e. you can find a better quote if you look around). State Farm on the other hand usually gives you an amazing bike insurance quote if you insure your car with them. In my case, they would screw me so bad on the car insurance, that it wasn't worth insuring car+bike with them.

Btw, regarding payouts. I used to be with State Farm before, and when I got in an accident back in 2003 (not at fault), they handled everything quite professionally, I got a rental car right away and got my car fixed within two weeks or so by a reputable body shop. So can't complain there.