{"id":10630,"date":"2021-11-25T12:15:43","date_gmt":"2021-11-25T19:15:43","guid":{"rendered":"http:\/\/motorcyclecolorado.com\/blog\/?p=10630"},"modified":"2021-12-01T20:29:33","modified_gmt":"2021-12-02T03:29:33","slug":"pay-for-insurance-by-the-mile","status":"publish","type":"post","link":"https:\/\/motorcyclecolorado.com\/blog\/pay-for-insurance-by-the-mile\/","title":{"rendered":"Pay For Insurance By The Mile?"},"content":{"rendered":"
\"Voom<\/a>

The Voom site.<\/em><\/strong><\/p><\/div>\n

Many years ago I bought a junker of a pick-up truck to haul materials for some landscaping I was doing at home. This was not a vehicle you would drive for any other reason. It had been in a crash and the frame was bent, so it was one of those things that look like they’re going sideways down the road. Mostly it sat parked in my garage.<\/p>\n

It didn’t take me long to figure out, however, that for what I was paying in insurance on it each year I could save money by paying to have this rock and compost and other stuff delivered. So I sold the truck.<\/p>\n

A lot of people who have motorcycles don’t really ride them all that much. If you only ride the bike about 1,000 miles a year but you’re paying $200 for insurance that would come to 20 cents per mile ridden. If you put 10,000 miles on that bike you’re only looking at 2 cents a mile. What if you could get insurance where you pay for the actual mileage you put on the bike?<\/p>\n

This is actually an option in some states (Arizona, Illinois, Ohio, Indiana). There is a motorcycle insurance company called Voom Insurance<\/a> that does exactly that. Ron Khirman from Voom contacted me recently asking if I would like to work with them on getting the word out about their company. In exchange for putting up a blog post (this post) they would pay me $50. Check them out, write whatever I feel is appropriate. I said I was interested in their offering but if they were going to pay me I would need to let you, the readers of this blog, know that. “Fine by us,” Ron replied.<\/p>\n

So I checked them out. Ron sent me to a link that is presumably a dummy page so I wouldn’t accidentally purchasing insurance that would do me no good–I’m in Colorado and they do not yet operate in Colorado. The first thing that happened was that Norton Antivirus deemed this a dangerous choice and I had to tell it no, I really do want to go to the site. I got no such response when I went to the actual site in the link above. In the meantime I was able to get the information I needed.<\/p>\n

For starters, Voom<\/a> offers three plans at varying price points: Essentials, Popular, and Extended. With Essentials the monthly base rate is $4 and 1 cent per mile. For Popular it is $9 a month and 4 cents per mile. With Extended it is $35 a month and 13 cents per mile. If you go with Popular it adds in comprehensive and collision and going to Extended also includes uninsured, underinsured, and body injury.<\/p>\n

\"\"<\/a>

The basic quote on my V-Strom.<\/em><\/strong><\/p><\/div>Each plan is customizable depending on what coverage you want. For instance, I chose Essentials and used my V-Strom as the bike. It gave me a base rate of $2.10 and a penny per mile. (The last two fees are consistent for all policies.) This includes $25,000 coverage per person, $50,000 coverage per incident, and $20,000 property damage per incident. These coverages meet Colorado’s requirements. If I added comprehensive and collision that went to $7.76 per month and four cents per mile. All the standard choices you always make with insurance were there for your selection.<\/p>\n

They also offer the usual deductions for things like having a motorcycle endorsement on your driver’s license, taking a rider safety course, and that sort of thing. I have those so I took those deductions.<\/p>\n

So how does this work out for me? Would I benefit by paying per mile for my insurance?<\/p>\n

Well, last year I rode the V-Strom 1,046 miles. Taking the basic coverage that would work out to $35.66, whereas I now pay GEICO $145.02 per year on that bike. (OK, an update on Dec. 1: I did the math wrong. I think I misread that quote. By my recalculation it would cost me $60.62 per year. That’s still a heck of a savings.) I tried adding my other bikes onto the policy and it didn’t alter the general equation very much. It would seem that I could save a good bit of money going with a policy like this.<\/p>\n

I don’t know. Maybe there’s something I’m missing here but this looks like a pretty sweet deal. If it was offered in Colorado I would definitely check it out further. But it isn’t, so for now I won’t. Get back in touch with me then, guys, OK? If any of you readers give this a shot let me know how it turns out. Thanks.<\/p>\n

Biker Quote for Today<\/h3>\n

You know you’re a biker if you only took the job to pay for your trip to Sturgis.<\/p>\n","protected":false},"excerpt":{"rendered":"

Many years ago I bought a junker of a pick-up truck to haul materials for some landscaping I was doing at home. This was not a vehicle you would drive for any other reason. It had been in a crash and the frame was bent, so it was one of those things that look like […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[517,518],"tags":[362,1198],"class_list":["post-10630","post","type-post","status-publish","format-standard","hentry","category-suzuki-motorcycles","category-v-strom","tag-motorcycle-insurance","tag-voom-insurance"],"_links":{"self":[{"href":"https:\/\/motorcyclecolorado.com\/blog\/wp-json\/wp\/v2\/posts\/10630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/motorcyclecolorado.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/motorcyclecolorado.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/motorcyclecolorado.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/motorcyclecolorado.com\/blog\/wp-json\/wp\/v2\/comments?post=10630"}],"version-history":[{"count":6,"href":"https:\/\/motorcyclecolorado.com\/blog\/wp-json\/wp\/v2\/posts\/10630\/revisions"}],"predecessor-version":[{"id":10643,"href":"https:\/\/motorcyclecolorado.com\/blog\/wp-json\/wp\/v2\/posts\/10630\/revisions\/10643"}],"wp:attachment":[{"href":"https:\/\/motorcyclecolorado.com\/blog\/wp-json\/wp\/v2\/media?parent=10630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/motorcyclecolorado.com\/blog\/wp-json\/wp\/v2\/categories?post=10630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/motorcyclecolorado.com\/blog\/wp-json\/wp\/v2\/tags?post=10630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}