There seems to be a war going on in Texas between Progressive, and Geico for the most cost effective motorcycle insurance. (Where is Dairy Land in this – my once long time motorcycle insurance company?)
I currently use Progressive – because they picked my account up when I move to Florida a few years ago. My Progressive full-coverage insurance costs me about $26/month. On a 20K bike. I think it’s a good deal.
Geico and Progressive had just started running a lot of motorcycle insurance ads – why? It’s a fairly large market (but with huge margins, from what I understand). My primary insurer, USAA, doesn’t want to cover me for my motorcycle. They WILL cover me, but they make it cost-prohibitive – it just isn’t a business they want to be in.
But I am curious – why are Geico and Progressive both running commercials right now for motorcycle insurance? What is driving this? High gas prices (when I bought my current BMW bike in 2003 it cost me $3.25 to fill the tank – now it costs $7.50) probably have a little to do with it, but really – why the sudden interest in the motorcycle insurance business?
My motorcycle insurance (at my age, with my driving record, on a bike that is paid for) is cheap – so they are unlikely to sway me either way. So who are they targeting here? Is there a sudden surge in buying motorcycles that I don’t know about (I follow BMW bikes, so if Honda or Yamaha so a surge, I wouldn’t know).
Interesting. I imagine the insurance companies are seeing a surge in sales, and they want to get that market. But I never remember seeing so many commercials for motorcycle insurance. Ever.