Insurance Renewal Time

Perfect timing to talk about insurance policies. In my situation, policy renewal is coming in September. I got renewal bill and to my surprise, rates went up 46% so instead of $298, Progressive wants $438 now. Same bike, same coverages, I had no claims, accidents, tickets or anything and been with them for over 10 years and always paid premium in full. So I called them and asked why, lady in the Progressive credit division told me that insurance companies do credit check every so often and my rating went from A to C. So I checked FICO right after to find out that my score is well over 800 which is excellent. Needlessly to say, when times comes, I'll be shopping around, no way I'm paying Progressive 46% increase.

If you're in the 800s, I'd be more curious/concerned why Progressive believes you're now a credit risk. Surely they can address this. Hope so as I've been with them forever and would not be happy with a 46% increase with no claims. Good luck.

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I was told it was the 'cost of doing business' whatever that means and was told they use the credit info from the prior year (I'm also at 835). So I left for GEICO.

That liability coverage sounded very high so I went to look at my policy. I pay $27 a year for 100/300/50 liability only on my 1983 Honda CB1100F with Liberty Mutual. I know at one time it was $75 with Safeco, but I was switched to Liberty Mutual last year so I can only assume they use a percentage to figure the rates for multiple bikes. My Triumph Trophy runs about $247 for the same liability plus collision coverage. I don't have medical coverage on any of the bikes.

I have American Family for house and cars, my bike is under 200 with higher medical amounts. I checked the usual suspects and no one can come close.