Progressive Insurance

[Kinky]

I just got a quote from Progressive for $1,247.00 and thought that I had seen other msgs posted here that quoted $250.00 or less. I have an excellent driving and credit record. Does this seem high or is it a reasonable price to pay?
Thanks

[johnpowers]

No way! It's far too high! If you pay that much for insurance -- assuming the money could instead earn what a treasury bill pays, and accounting for inflation -- you would have nearly bought an additional Segway after three years. In that case, you would do better to invest that $1,247 each year and take your chances.

You should call Progressive again. For purposes of comparison, I asked what the insurance cost would be for someone who has no credit record, no driving history, and lives in an urban area. Collision, theft, second driver coverage, all that stuff came to just under $300.

[pt]

kinky-

i think there are other factors as well, like location...but that does sound pretty high.

cheers,
pt

http://www.bookofseg.com

[cstull]

I just got Progressive for $137/yr including 250/500 liability and $100 ded for comp/coll. I did not go with un/under insured.

The policy price included a 35% surcharge for having an accident during the last 3 years.

Tell them the Segway is rated under the Denali electric motorcycle.

Craig

[AtlSeg]

As with any insurance policy, age, location, prior accidents and even credit history can affect the quote. But that seems WAY too high!!

My Progressive coverage was $178. It would have been $105 if I didn't take the uninsured motorist coverage. I got it through my regular agent, who also writes Progressive policies. Interestingly, when I called Progressive's 800 number for a quote, they quoted $200 for the same coverage (without uninsured motorist coverage). It pays to get a second quote!

[lipinsky]

Here is the coverage breakdown for my quote. Go for the $500 deductable. Makes a big difference in your cost. Plus are you really going to file a claim for less than $500? My only claim will be when I get run over by some SUV or Hummer!

COVERAGES
2003 SEGWA VEH 1

BIPD/GP 25/50/10 21
PED-PIP 50,000 3
UMBI 25/50 14
SUM NONE 0
MED PAY NONE 0
OBEL NONE 0
COMP 500 DED 24
COLL 500 DED 49
CPE 0
RD SIDE NONE 0

Total premium $111.00
Dr #/Sex/Marital/Age 1MM41

That was from Rachel at 800-289-7704 ext 28374 (call her since she knows about Segways now).


BIPD/GP Bodily Injury Property Damage/Guest Passenger (mandatory in NY)
PED-PIP Pedestrian - Personal Injury Protection (mandatory in NY)
UMBI Uninsured Motorist Bodily Injury (mandatory in NY - only covers in New York)
SUM Supplimentary Uninsured Motorist (UM out of state - $3 per year)
MED PAY Medical Payments (pays after all other coverages)
OBEL Optional Basic Economic Loss (25,000 coverage for work loss benefits)
COMP Comprehensive (vandalism, theft, fire, act of nature)
COLL Collision (if you are at fault)
CPE Customized Parts and Equipment
RD SIDE Roadside Assistance

($9 Less with $1,000 ded and $11 more with $250)

[lipinsky]

The rep from Progressive said that the max premium she could come up with was $417 for me in my zipcode.

[2totango]

[?][?][?]

Am I confused? My insurance seemed to be satisfied with my adding the HT for theft and coll. with its own deductible and the rest is covered by Homeowners. Both vehicle and home are covered by the same company.

Nowhere near the hundreds mentioned here.

[jillmac]

Tango - who are you insured by? I have Mercury and they won't cover Segways.

Jill

[pkradd]

Look at this:

http://www.progressive.com/newsroom/segway_first.asp

[SegwayBill]

I have the first policy in NYC it cost me $1017.00 a year. They sent me N.Y. Motor vehicle insurance ID cards. I have max coverage,am over 40 and married.

Bill

[jtbenray]

I live in Jacksonville, Florida, and I just added Progressive on Friday, March 14, and my annual premium was just $110.00 total. And, that included $10,000 liability and theft, as well as requirements for the state.

Benray

[lipinsky]

SegwayBill. Can you please write here what I wrote. What is the detail to your policy? What are the line items and the charges. I really believe that you are being over charged.

[2totango]

Hello jillmac. First want to say how much I enjoy your postings and hope to see you sometime this year on a trip to see attydog in S.F.

My insurer is PEMCO here in Seattle. Don't know how many states they cover. Actually my dealings are directly with the home office, which is normal, but the HT inquiry was referred by them to an agent who would represent them and Progressive. It was the agent who agreed that the HT may only need to be tied to my Homeowners policy. Will definitely have to check back with PEMCO when my machine arrives.

[Kinky]

quote:Originally posted by johnpowers

No way! It's far too high! If you pay that much for insurance -- assuming the money could instead earn what a treasury bill pays, and accounting for inflation -- you would have nearly bought an additional Segway after three years. In that case, you would do better to invest that $1,247 each year and take your chances.

You should call Progressive again. For purposes of comparison, I asked what the insurance cost would be for someone who has no credit record, no driving history, and lives in an urban area. Collision, theft, second driver coverage, all that stuff came to just under $300.


Just got a better quote for under $250. with $100. deductable. My yearly car insurance is under $600. and that includes roadside. I think there are some agents out there trying to rip us off.
Kinky

[AtlSeg]

And on a different note, I just got a letter from Progressive informing that "the Vehicle Identification Number (VIN) for the 2003 Segway HT is either missing or incomplete. As a result, we are unable to properly show the State of Georgia that you have insurance."

What a hoot! Georgia now matches up VIN numbers from car registrations with those submitted by insurance companies--which is a good thing. It is a new system intended to help assure that registered vehicles carry valid insurance. I guess the fact that you have vehicle insurance for a vehicle that doesn't need registration is an entirely foreign concept to them!

In this case, there is of course no VIN number on file for a "registered vehicle." Progressive duly noted my file, and everybody should be happy!!

**** (Richard) in Atlanta

[pam]

USAA is now providing insurance, but it's through their general insurance "pool" and it's a progressive policy. I'm trying to remember what I was quoted.
300,000, 100,000 liability
20/10 uninsured motorist
comprehensive 500 ded
came to about $109.
Didn't do medical since I have medical through my job.
The interesting thing was that the liability cost didn't change between the 20/10 and the 300/100. They had a roadside thing, but I didn't take it. Figured that if I was about 6 miles from home I could call a friend or relative. <G>
Thanks for the info, jtbenray - I was on my way to call Progressive and thought I'd check with USAA to see what they had.
Pam

[lipinsky]

It would be very helpful for all of us if everyone getting insurance puts in the kind of detail that I did in my 3/15/2003 post. That way we can speak with intelligence to the company call center to get best pricing. I believe that we know more about Segway insurance than they do at this point -- but without hard data it's hard to dispute what they say.

Grid

[Kinky]

quote:Originally posted by lipinsky

It would be very helpful for all of us if everyone getting insurance puts in the kind of detail that I did in my 3/15/2003 post. That way we can speak with intelligence to the company call center to get best pricing. I believe that we know more about Segway insurance than they do at this point -- but without hard data it's hard to dispute what they say.

Grid


The quote for $264.00 a year provides minimum liability limits of $25000/50000/20000 and comprehensive/collision deductibles of $100 each.
Kinky

[AtlSeg]

Lipinsky--the only problem with giving the specifics is that not only do they vary by age and location, but also state requirements can be very different from state to state. Therefore, the minimums/premiums quoted may not apply to many other people.

**** (Richard) in Atlanta

[JohnM]

quote:Originally posted by AtlSeg

Lipinsky--the only problem with giving the specifics is that not only do they vary by age and location, but also state requirements can be very different from state to state. Therefore, the minimums/premiums quoted may not apply to many other people.

**** (Richard) in Atlanta


State requirements? I'm unaware of any states having requirements for EPAMD insurance.

Runnin' with the Big Dogs

[Stutoonz]

Thanx for posting Progressive ins. prices for coverage. Being from Pennsylvania, I too was quoted a ridiculous price. Why? I have no idea. However, after I read to the agent the quotes posted on forum and AFTER he consulted w/his supervisor---The price DROPPED to $176.00
My advice simply is NOT to accept quoted high prices. Make sure that you speak to someone in charge!! As my dear departed Dad would have said--"Never speak to the feet when you can talk to the head !"

SO IT GOES !!-Kurt Vonnegut, author

[AtlSeg]

quote:State requirements? I'm unaware of any states having requirements for EPAMD insurance.
Sorry about that.... I was thinking more in terms of the various minimum levels for liability that states require--they are not all the same, and therefore could be different limits/costs in different states. Otherwise you are absolutely correct! And, fortunately, you can choose the coverages you want--so if you only want comprehensive, your H/O policy may cover it. If you want liability (especially if you feel nervous about giving demos) of even uninsured motorist (sometimes required, sometimes optional) you can get it.

I was just trying to make the point that unless you have two drivers the same age in the same location (often ZIP code) getting the same coverages, it is difficult to compare insurance quotes.

**** (Richard) in Atlanta

[RAG1247]

Here is the detail re: my segway policy from progressive in florida

http://www.sonyguy.com/progrpol.jpg

Richard
Ft. Lauderdale

[fredkap]

Richard,

My question to you is, if I assume tht you have health insurance, as such what do you need uninsured motorist coverage for?

I declined that coverage and yet I am a strong believer in insurance.

Happy gliding,

Fred

[AtlSeg]

quote:Originally posted by fredkap

Richard,

My question to you is, if I assume tht you have health insurance, as such what do you need uninsured motorist coverage for?

I declined that coverage and yet I am a strong believer in insurance.

Happy gliding,

Fred


Fred, I really debated long and hard about the uninsured motorist coverage. You are correct, my health insurance should cover any problems. I guess it is for the same reason that I have uninsured coverage for my car--an extra sense of security (what most insurance is, in any case). I decided that since the cost was relatively minimal, I would add it now, and possibly reconsider in the future and drop the coverage if I decided I didn't need it. Again, it is a case of how "protected" we want to be--some folks might feel they only need basic property damage/loss coverage, while others might feel more adequately protected with liability insurance to cover the demos we all seem to be giving.

**** (Richard) in Atlanta

[RAG1247]

Fred:

I have 2 hts and it is only me and 4 yr old yellow lab. While I could be covered for medical costs under my health insurance, the driver of the 2nd unit would not be covered. Uninsured mot cov also allows one to collect what they could collect from an insured motorist (over and above medical costs) florida has an outstanding number of uninsured motorists. I want the best possible coverage for anyone who operates one of my units. Everyone speaks of demos, and I would not think of giving anyone a demo with adequate and complete coverage. Friends always say they wouldnt sue, but sometimes it is their only recourse to be compensated for their costs, etc.

Richard
Ft. Lauderdale

[BruceWright]

The coverage that Progressive quoted me for almost $600 a year, State Farm offered me for $92.20

I'm talking

$25,000 per person,
$50,000 per accident,
$25,000 property damage
$1000 medical
Uninsured motorist
Comprehensive (theft, vandalism)
$250 deductable


Progressive is out of their minds.



-Bruce Wright

Segway: Vehicle of Dream