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Is their any sane logical reason why it should cost twice as much to insure a Goldwing in Wilmington, NC than Atlanta, GA????

Do the repair parts cost twice as much??? Do the mechanics get paid twice as much???

I understand actuarial tables and risk and exposure and all that but I can't believe that the risk and exposure in Wilmington, (150,000 people) is greater than Atlanta (4 million +). Is it that the quality of driver that much higher in Atlanta? I can't believe it.

If there is some logical reason that I am missing someone please enlighten me. As I opened, I am reasonable. If there is a reasonable reason, I will suck it up and pay and on with life and I won't feel so bad. I'll at least understand why. If there is no logical reasonable sane reason, well, I guess I will still suck it up and pay.

If there is some one out there with the NC State Insurance commission or is otherwise qualified to anwer these questions, I'd love to know.

Thanks in advance for the enlightenment.
 

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Insurance, (of all kinds) gasoline, rental cars, and air fares cost what they do - because they can. There is no logical rhyme or reason.
 

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I think it has to do with the number of total claims.

Taking accidents & theft out of the equation, NC is a hurricane prone State.

So the insurance companies usually take a bigger hit than say, GA, which doesn't get the high number of claims due to natural disasters.

In order to take care of the higher number of claims, I believe they raise the rates of all insurance.

This is just my opinion and I have no factual evidence to back it up, but, it's the only thing I can think of that makes any sense.
 

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same here Florida ...

insurance
$500 in Charleston and $790 in Ocala for the same bike and same driver.
... and we can't even get a deal on the extended warranty here in Florida.

guess we're just special ...

Dennis
 

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I live in one county but my mailing address is another county. Had to talk to progressive because their software said one price then got billed for twice as much. When talked to them living in the county that I do saved me $200.00+. Go figure. Richard
 

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Don't forget that most insurance premiums today are also based largely on credit rating... Bad credit, high rates.. Try a number of companies, you may be surprised..
 

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I would guess that the rates in Wilmington are higher due to the coastal tourists sightseeing and not paying attention to driving. I was stationed at Pope AFB NC. and used to go to that area on the weekends. There were alot of beautiful women, bright sunshine, and fender benders everywhere! :D
 

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Sometimes I wonder why Canadians even ride motorcycles:

- our bikes cost approx. $2,000.00 more than you pay in the USA, even with the conversion rate
- we cannot buy extended warranty
- my insurance is $1,500.00/ year (full coverage)
- at least our medical premiums are much less
 

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Insurance differences

And just think, you've paid premiums all those years, then finally file a claim and they either raise your rates or cancel you.
What really frosts me is when they started basing it on your credit rating. I had a run in with the IRS about taxes that they said I owed, I fought them for about 5 years over it, finally gave in when they put a tax lien on me and boy did my credit go south. After I paid off the tax lien in 2003 (2nd year of an agreed upon 6 year payback plan) my credit still showed (shows) the effect of that lien even though I have a "satisfied" lien statement from the IRS. High interest rates for buying a car (or motorcycle) hurt, it is only in the last year or so that my credit rating has started to noticeably improve.
Good luck on your insurance rates because generally they don't make much sense especially if you have an excellent driving record.
The only positive thing I can say is that if you change companies you can "generally" find that your first premiums are usually higher (due to recouping the cost of commisions, cost of issuing the policy, etc....) but after 6 months to a year they "generally" go down as this initial costs has gone away. However if you change companies once again then you run the risk of incurring those charges all over again with the new company.
Dennis
 

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Virginia

Here in Virginia I pay $300.00 a year....
 

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Burgman 650 - $140.00 per year.

Just purchased (and will be delivered Thursday) 04 1800A - $258.00 per year.
 

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Insurance companies have to buy reinsurance from reinsurance companies to cover their catastrophic losses, ie hurricanes. That cost goes into their numbers and they charge more for their products to cover that cost. Buying reinsurance helps companies to "spread risk", otherwise they couldn't survive the large catastrophic losses
 

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wingwing said:
same here Florida ...

insurance
$500 in Charleston and $790 in Ocala for the same bike and same driver.
... and we can't even get a deal on the extended warranty here in Florida.

guess we're just special ...

Dennis
Deal or NO Deal...... I will trade you 3 months of nasty weather, snow and ice, for your weather and trade you extend warranty prices. :twisted:
 

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Marko, can't really tell you why,,,,I'm 50 miles up the coast from Wilmington in Jacksonville,,,
$600.00 a year for full coverage............Regards Pete
 
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