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[Richard230]

Not that it is any big deal, but the insurance premium for my (1cc  ) Zero for this year has gone up again. I have had all of my electric motorcycles insured by Progressive insurance during the past 11 years, but with third-party liability coverage only, in the amount of $250K/$500K.  When I insured my Electric Motorsport GPR-S in 2009, the yearly premium was only $5  . Since then it has been increasing a little every year and this year it went from $71 to $79.

Like I said, not a big deal, but I was fascinated to see that my 2011 Royal Enfield Bullet 500's insurance premium (which is on the same policy) dropped from $56 last year to $22 this year.     I would love to know how insurance underwriters determine what insurance premiums they will be charging every year. It must be an interesting process.

[Moto7575]

I would say that hyper early adapters are more cautious, and as the penetration of e-bike increases, the average drivers looks more and more like the average bike driver...

[domingo3]

Not that it is any big deal, but the insurance premium for my (1cc  ) Zero for this year has gone up again. I have had all of my electric motorcycles insured by Progressive insurance during the past 11 years, but with third-party liability coverage only, in the amount of $250K/$500K.  When I insured my Electric Motorsport GPR-S in 2009, the yearly premium was only $5  . Since then it has been increasing a little every year and this year it went from $71 to $79.

Like I said, not a big deal, but I was fascinated to see that my 2011 Royal Enfield Bullet 500's insurance premium (which is on the same policy) dropped from $56 last year to $22 this year.     I would love to know how insurance underwriters determine what insurance premiums they will be charging every year. It must be an interesting process.

You might call Progressive and ask for details.  I have always insured my bikes with just liability.  When I got my 2018 FXS insured, I had a super helpful rep that told me that it was the exact same cost for me to get liability only or to get comprehensive.  Cost was in the $70 range.  I can't recall if they stated directly or I just assumed that there is a minimum price that they would write the policy for.  That wouldn't match up with you paying less than $79 for your Royal Enfield.  Pricing on insurance mystifies me, and I imagine the insurance companies prefer it that way.

Not that I've ever used comprehensive insurance, but I'm guessing that I may have been able to get it for "free" on past policies, but nobody's mentioned it to me.  Progressive has had the best price I've found to insure my Zero.

[Richard230]

The few times that I have inquired about the cost of premiums rising year-to-year, I have been told that it reflects the cost of doing business in California. 

[dvdt]

For my 2014S, my notice for 2020 premiums (Geico) was nearly a 2x increase over 2019 --- with no obvious cause (no tickets, no accidents, albeit I'm a year older). I phoned a rep, who attributed the increase to changes in CA law that affected liability. When I asked which laws (so that I could send letters to my CA assembly member and senator), the only specific one the rep could offer was the law pertaining to texting while driving --- which seemed a bit of a reach to apply to motorcycles.

The note above regarding a minimum policy cost is something I found to be true at Geico, and I used the web quotes to test combinations of insurance types and deductibles to just get past that minimum level. For 2020, that Geico minimum appears to have jumped to >~$105 per 12 months, up from 2019's $75 though I might not have sampled the minimum set.

[ctrlburn]

Might as well revitalize this thread, because it's another year later.

I chatted up (email annoyed) my local State Farm agency and found some interesting information.

Because Electric Motorcycles have no known 'CC' their pre-underwritting formula for "gasoline engine equivalent" involves some multiplication. (I feel perhaps too much multiplication)

My 2020 LiveWire is insured as a 6,300 cubic centimeters 525 horsepower ICE motorcycle.
A 2020 Zero SR/F would solve out to 6,600cc and 550 hp.

Needless to say I'm trying to find an avenue to get the underwriters to either cap or curve their formula.

[Crissa]

That's... How do they even... That's... How?

-Crissa

[Richard230]

When I first started riding an electric motorcycle in 2009, Progressive gave my Electric Motorsport GPR-S a 1cc size and charged me a yearly premium of only $5 for 250K/500K third party liability insurance. It has gone up every year since then. Now I am being charged for the same insurance by Progressive a premium that is $20 a year more than they charge me for my BMW R1200RS. 

[DeSelbyofDalkey]

Because Electric Motorcycles have no known 'CC' their pre-underwritting formula for "gasoline engine equivalent" involves some multiplication.

My 2020 LiveWire is insured as a 6,300 cubic centimeters 525 horsepower ICE motorcycle.
A 2020 Zero SR/F would solve out to 6,600cc and 550 hp.

This makes sense—as in now I understand the ridiculous rates Progressive quoted me for an SR or SR/S rather than it makes logical sense. Their quote (including comprehensive coverage) was more than twice what I pay for my BMW R9T Racer, and I think that is already pricey.

Is there anyone who can advocate for electric bikes owners to the insurance industry or is that wasted effort?

[Curt]

Calling a LiveWire 525hp is ludicrous when it is around 105hp.

They should start from the advertised horsepower and work backward to find the equivalent ICE displacement. The SR/F at 110hp is comparable to 600cc.

[ctrlburn]

I filed a complaint with the Wisconsin Office of the Commissioner of Insurance.  Which, if effective, is only going to influence State Farm.

So if you get a weird number - welcome to the bleeding edge - and see what can be done to have them justify that number rather than just moving on.

State Farm does start with the advertised electric horsepower... and multiplies it by 5 - their justification is because of the torque involved in generating that horsepower to get the gasoline equivalence.

[Snafuperman]

I just got a quote from Geico for $1100/year for full coverage on a new 2021 SR/S.  Yikes!  I've been with Geico for 30 years, I'm 72 years old, no accidents  for 30 years, and only one ticket, 20 years ago, for 45 in a 25.  WTH?!!

It's an expensive bike and I'm sure it must be classified as a sport bike, which it is, but DAMN!

[Richard230]

I just got a quote from Geico for $1100/year for full coverage on a new 2021 SR/S.  Yikes!  I've been with Geico for 30 years, I'm 72 years old, no accidents  for 30 years, and only one ticket, 20 years ago, for 45 in a 25.  WTH?!!

It's an expensive bike and I'm sure it must be classified as a sport bike, which it is, but DAMN!

I have a similar resume with Progressive except I am older than you are. However I buy my bike's with cash so I don't need full coverage and therefore only request $250K/$500K liability-only insurance. For that insurance I am paying $152 a year for my 2018 Zero S, which is about $40 more than I paid last year.  The premium for the same insurance cover for my much faster and more powerful 2016 BMW R1200RS however is only $102. Go figure! In 2009 when I insured my first electric motorcycle with Progressive, insuring my 2009 Electric Motorsport GPR-S was only $5 for the same insurance that year.    But that didn't last long. The next year it was $15 and has been going up every year since then. Kind of makes you wonder what the future holds for electric motorcycle insurance premiums. 

[Snafuperman]

I haven't had a loan for a vehicle for 40 years now.   I always pay cash.  And yes, I could opt for liability-only, which I have many times for bikes that were only worth $5K-$6K or less, but liability-only on a brand new 2021 $20K+ bike is more of a risk than I am willing to take.  I'd rather do without the bike.

[Snafuperman]

I just got a quote from Geico for $1100/year for full coverage on a new 2021 SR/S.  Yikes!  I've been with Geico for 30 years, I'm 72 years old, no accidents  for 30 years, and only one ticket, 20 years ago, for 45 in a 25.  WTH?!!

It's an expensive bike and I'm sure it must be classified as a sport bike, which it is, but DAMN!

I got a quote from Progressive -- way, way cheaper for the same full coverage values.