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21st Century Motorcycle Insurance Review

21st Century Motorcycle Insurance Review

  • Customer Service
  • Cost
  • Coverage

21st Century insurance company has been around since the 1950s. They claim to offer the same great motorcycle insurance coverage for less than other companies are charging; they seem to offer very competitive rates. This is a veteran insurer that has been serving customers since 1958 – they know what it takes to get customers. After being founded, they quickly established themselves as a fairly popular insurer in the United States.

Their rise in popularity caught the attention of Farmers insurance – who bought them out. This means that the 21st Century motorcycle insurance policy is the same as Foremost insurance (owned by Farmers). Below are the specifics for 21st Century and information regarding their motorcycle insurance policy.

21st Century Company History

In 1958, 21st Century insurance was founded by Louis W. Foster – it was initially called “20th Century.” Before founding the company, he had begun his work in the insurance business in 1937. Initially he was an independent agent, but saw an opportunity to build his own legacy. His first mission was to set up an inter-insurance exchange that provided individuals with auto insurance. At first he wanted 20th Century to focus business efforts specifically in California. Due to increases in popularity, the company began selling insurance policies throughout the United States.

In 1968, ten years after 20th Century was founded, it became a capital stock company. By the year 2000, the company decided to change its name to reflect the times – hence the change to “21st Century” insurance. Eventually, 21st Century was bought out by AIG in 2005. Just four years later in 2009, they were sold to Farmers insurance and are now listed in the “Farmers Insurance Group of Companies.” They currently have their headquarters in Wilmington, Delaware – and are offering private passenger car insurance in 48 states and D.C.

This is a company that currently has over 2 million insurance policies across the United States. They state that they are determined to provide their customers with “excellent coverage” and award-winning service. This is a respectable company that prides itself on giving members fair rates and good service. Below are the coverage options that they provide as well as additional information about this company.

21st Century Motorcycle Insurance Coverage Options

21st Century used to have their own motorcycle insurance policy, but things changed in 2009 when they were bought out by Farmers Insurance. 21st Century is now sold through Farmers and offer the Foremost insurance policy. Many people have considered the amount of coverage options to be an improvement upon the initial framework laid out by 21st Century. Below are some insurance options that you can purchase for your motorcycle.

Annual Policy – 21st Century lets you get a policy that covers you no matter when you want to ride your bike. Even if you drive it out-of-season, you will be covered. If you like freedom to ride whenever you feel like it – regardless of conditions, this may be something to consider.

Bike Replacement – If you just bought a new bike, 21st Century will provide you with coverage to replace it if it is totaled. You must have purchased your motorcycle from an authorized dealer and they have a limit of $35,000 towards replacing your bike. You must also buy insurance through 21st Century within 30 days of the purchase date.

Collision Insurance – Getting into an accident and paying for the damages you cause can be expensive. When you collide with another vehicle, you are responsible for paying the repair costs. With collision coverage, any vehicle or object that you hit will be picked up with your policy.

Comprehensive Insurance – For all things that need to be insured that aren’t the result of collisions, comprehensive coverage will have you covered. Things like having your bike stolen, fire damage, animal damage, as well as weather damage will all be covered. Comprehensive is always optional, but if you have a nice bike, it may be a smart purchase.

Increased Limits for Liability – With 21st Century, you are allowed to select your own limits for liability insurance. If you need more than the minimum or recommended amounts, you can increase the amount of coverage. It is more expensive to increase your limits, but some people like to have more protection.

Liability-Only Protection – Not everyone wants to buy full-blown policies to cover their bike. If you have a motorcycle that doesn’t have a lot of value and don’t need all the extra types of coverage, you may want to get a liability-only policy. This provides you with the coverage that is legally required in your state – but nothing extra. It is a bare minimum policy that can help people save money.

Medical Payments – No one ever expects to be involved in an accident in which there are a lot of medical bills. However, if you are in an accident that results in significant damage and requires major medical care, it is good to have this protection.

Optional Equipment Insurance – If you buy comprehensive coverage for your bike, you will automatically be granted $3,500 in coverage towards optional equipment. This includes coverage for things like a sidecar, paint job, chrome, grips, customizations, etc. You also will have the ability to increase your limits to $15,000 towards optional equipment if you need this type of coverage.

Roadside Assistance – Not all major insurers will provide roadside assistance. If your motorcycle breaks down, needs a repair, or some type of assistance, you will be covered. Additionally, if you are going on vacation and encounter problems with your bike, you can use “Trip Interruption” coverage for financial reimbursement. Although these types of coverage are optional, it is nice to know that they have extensive coverage.

Safety Apparel – You will have the option of buying insurance for your safety apparel. This will give you up to $1500 worth of coverage towards helmets, goggles, riding leathers, jackets, etc. Nearly all safety equipment will be covered with this protection.

Transport Trailer – Do you have a trailer for your bike? If you use your trailer and want to get it insured, you can get up to $7500 in additional coverage specifically for the trailer.

Uninsured / Underinsured Motorist Insurance – If you get into an accident with someone who lacks insurance, this could be a big problem. If an uninsured driver hits you, but doesn’t pay for the damages, you will be left to pay for what happened on your own. With uninsured and underinsured motorist coverage, your own insurance company will pick up their slack.

21st Century Motorcycle Insurance Payment Options

People will have a couple of options when it comes to paying their bills with 21st Century. You can either make a large upfront payment or pay in smaller installments.

One Time (Full Payment) – Paying in full is smart because you end up getting a better deal over the course of the year. Although you will make one larger payment, you will be given extra savings for paying all at once. This is the smart way to go if you can afford the large upfront payment.

Recurring (Multiple Payment) – If you don’t like the thought of paying one large amount for your insurance, you can set up a recurring payment plan. These are typically done monthly and can be automatically withdrawn from your account or paid manually.

21st Century Payment Methods

  • Bank Account – If you’d like the money automatically withdrawn from your bank account or would like to pay via checking account, this can be set up.
  • Credit Card – You can set up your account with your credit card information to be billed in accordance with the payment plan you selected.
  • Debit Card – You can also use your debit card if you’d rather not use a credit card.
  • EFT – This is the same thing as automatic withdrawal from your bank. It is done digitally to make payments when they are due.
  • Mail – If you need to make a payment, you can send a check in the mail.
  • Online – Under your account, you can set up your bills to be paid online.

Does 21st Century offer paperless billing?

Yes. 21st Century now offers paperless billing through their parent company Farmers and/or Foremost. If you like the idea of going paperless, this can be set up through your account online. All you need to do is log into your account (once you have set it up) and select the paperless option. Many major companies will allow you to save yourself the extra clutter and help save the environment by scaling back on paper – 21st Century is one of them that gives you this option.

21st Century Motorcycle Insurance Discounts

Everyone wants to buy insurance through the company with the most discounts right? Kind of. Discounts are smart, but with most insurance, you get what you pay for in terms of coverage. You will usually be rewarded for minimizing your risk as a driver by avoiding accidents and filing less claims.

Affinity Group – If you are a member of the affinity groups AARP or Grandparent.com – you will be granted extra savings.

First Accident Waiver – Individuals that have a good driving history with no significant accidents or traffic violations will be rewarded by getting their premium surcharges waived on their first accident.

Helmet Discount – If you wear a helmet that has been DOT approved while riding your bike, you will be given an additional $500 towards insurance for medical payments.

Multi-Policy Savings – People that need more than one motorcycle or multiple vehicles insured will save with the multi-policy discount. Getting more than one policy through 21st Century or Farmers will result in a better deal.

Policy Renewal Savings – Simply renew your insurance policy for another term and you will save yourself money.

Preferred Operator – By letting 21st Century know who the preferred operator is for your motorcycle, they will further reduce your insurance costs.

Safety Class Savings – If you take a company-approved motorcycle safety class and pass it, you will be given an extra discount. This will help you make better decisions on the road and educate you on safe driving practices – further reducing your risk to 21st Century.

Safety Equipment Savings – If your bike is up to safety standards with an anti-lock brakes system (ABS) and has an airbag to help protect the driver in the event of an accident, you will save more money. Discounts will be granted for each of these safety features.

Security Savings – If you install a security system on your motorcycle, you will be given a $500 deductible waiver on comprehensive coverage if a claim is filed for a stolen bike.

A.M. Best Rating: A (Excellent)

Due to the fact that 21st Century is owned by Farmers insurance, they have plenty of financial backing. They were rated an “A” by A.M. Best – which indicates that they have excellent strength as a company. This means they are able to process and handle claims in a timely manner and that you shouldn’t have to be concerned with this company folding anytime soon.

Customer feedback regarding 21st Century is fairly positive. Most customers agree that they offer really good rates for motorcycle insurance. These lower rates are appealing to many people looking to get a good deal. Another appealing aspect of this company is that they have a wide variety of coverage options to choose from. There are a lot of complaints online about their services, but the average user rating is about a 3/5 stars.

Get Free 21st Century Motorcycle Insurance Quotes Online!

The bottom line is that 21st Century offers some great coverage with good prices. Although there are many things to like about this company, you should always conduct a comparison with other companies before settling on a policy. By entering your Zip Code below in the box (or at the top of the page), you can compare the leading insurance motorcycle companies in your area. This will help you determine if 21st Century really offers the best deal or if you’d be better off with another company.

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