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Foremost Motorcycle Insurance Review

Foremost Motorcycle Insurance Review

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Foremost insurance group has been a key player in the insurance industry since the early 1950s. Currently, Foremost has nearly 40,000 agents throughout the United States; they are licensed to sell insurance in all 50 states. This is a company that was bought out by the larger insurance giant, Farmers in the year 2000. Despite being bought out by Farmers, the Foremost company still operates as its own entity in regards to policies, types of coverage, discounts, etc. If you are interested in motorcycle insurance from a company that has been around for over half-a-century, then you should check and see what Foremost has to offer.

This company is known for creating the very first mobile home insurance policy. They have worked with the Department of Housing and Urban Development to create new mobile home building codes and were the first to create a comprehensive policy for travel trailers. This is a company that is endorsed by the AARP for providing quality mobile home and motorcycle insurance to members. To this day, Foremost still conducts market research studies on Manufactured Homes. Now that you have a general idea of Foremost, continue reading below for more detailed specifics regarding their history and motorcycle insurance options.

Foremost Company History

In 1952, Edward Frey and Edward Stoddard teamed up with some investors to create the Foremost Insurance Company. Their original company mission was to offer insurance to thousands of American families that live in mobile homes. At this time, there weren’t any specific insurance options for individuals living in mobile homes and Foremost wanted to fill this void. At this time, the mobile home industry was starting to slowly expand and people needed some sort of insurance options for their homes.

As Foremost got more involved, manufacturing companies of mobile homes improved upon their initial construction designs and standards. This eventually led to banks lending for purchases of mobile homes and the expansion of trailer park communities. In the 1960s, Foremost decided to commission a study to understand how strong winds could affect mobile homes. This study would eventually lead to legislation passing a mandatory “tie down” law – in which owners were required to keep their home tied down. This was pioneering research that played a pivotal role in improving mobile home durability.

After their breakthroughs in mobile home insurance, Foremost went on to create the first travel trailer policy (i.e. Recreational Vehicles). They sought out to fill another niche in the insurance industry – giving good insurance policies to individuals that owned RVs. More Americans began to travel the country and visit new places, RV parks, or campgrounds. All motor homes were given a unique policy as created by Foremost. At this time, other companies were simply offering a form of modified car insurance to cover RVs – Foremost created coverage specifically designed for RVs / motor homes.

In the 1970s after Hurricane Celia smashed through the gulf coast, Foremost created temporary offices in the area to help serve customers. Fast-forward to present day and the company now has many different Mobile Claims Centers to help all customers in distress or dealing with some sort of disaster. In addition to mobile home and RV insurance in the 1970s, Foremost went on to create insurance policies specifically for boats, snowmobiles, ATVs, mini-bikes, and motorcycles.

As a company, their goal at the time was to learn as much as possible about each of the products that they insured so that they could make customers happy. Over the course of the company history, they have re-written many policies to reflect changes in laws, technology, etc. By the 1980s, Foremost had access to technology that helped process over 10,000 insurance transactions daily. At this time they also worked to create helpful products and special policies for mobile home owners that were age 50 and older.

The AARP saw what Foremost had done to cater to the older generation and gave them a stamp of endorsement in 1990 to offer mobile home insurance to their members. By 2004, Foremost had earned the AARP stamp of endorsement for motorcycle insurance. They launched a website at Foremost.com in 1996 to give customers digital access to their products and more information. Today, their website allows customers to find agents, file claims, get quotes, and pay bills.

In the mid 1990s, Foremost created a Mobile Fix-It Guide to help owners of mobile homes make repairs. They launched the website MyGreatHome.com to showcase all of this information. As Foremost continued to expand, it caught the eye of Farmers Insurance Group. Farmers went on to purchase Foremost in 2000. Since getting bought out in 2000, Foremost contracted with J.C. Taylor (antique and modified vehicle expert) to help with the underwriting of their newly launched “collectible auto insurance” product.

Foremost will continue to expand and hold its own in the insurance industry. They are a company that has roots in specialization. Presently they know the insurance markets, continue market research, and always search for ways to best serve their customers. Today they have agents on hand 24 hours a day, 7 days a week, 365 days a year to take customer calls.

Foremost Motorcycle Insurance Coverage Options

One of the most important aspects of any motorcycle insurance policy is the coverage. Although you may be concerned primarily with the price, you should be even more concerned with the coverage. If a company has a low price but doesn’t offer the coverage that you need, you are going to be disappointed. Read below to find out if Foremost has the coverage that you need.  Note: 21st Century is now owned by Farmers and sells the exact same plan as Foremost.

Annual Policy – No matter what day you need insurance, you can get coverage for your motorcycle. Even if you decide you want to take it for a spin out of season, there won’t be any hassle for getting your insurance.

Bike Replacement Coverage – If you buy a brand new motorcycle, Foremost will give you “replacement cost” coverage for up to 2 years on new bikes. They have a maximum of $35,000 and your bike must be purchased from an authorized dealer. You also must have your bike insured with them within the first 30 days of your purchase. Unfortunately, this will not cover any customized or classic bikes.

Collision Coverage – Whether you are “at fault” or another driver causes an accident, collision insurance will cover any damages to your motorcycle in the crash. If you collide into a tree, pole, or another vehicle – you will be insured if you purchase collision coverage.

Comprehensive Coverage – This type of policy is often referred to as “Other Than Collision” coverage because it protects you in the event that damages to your bike result in an event besides collision. This covers vandalism, stolen motorcycles, weather damage, animal damage and scratches, fire damage, etc.

Increased Liability Limits – You are allowed to choose whatever limits you need on your liability coverage.  If you need more than the standard limit on your liability coverage – ask for them to increase it to fit your needs.

Liability Only Coverage – If you don’t want all of the extra coverage options and are looking for a cheaper policy, Foremost has a “liability only” policy. This allows you to get a policy with just the legal insurance requirements and nothing more. This would cover you for bodily injury liability, property damage liability, etc.

Medical Payment Coverage – Although most people don’t anticipate they’ll need medical payment coverage, it is something to consider. This provides you with coverage for medical care / hospital bills resulting from an accident.

Optional Equipment Coverage – Foremost will give you $3500 worth of optional equipment coverage when you purchase a comprehensive policy. They will allow you to increase your limits up to $15,000 for optional equipment. If you have a very expensive bike with a custom paint-job, a chrome finish, other accessories, and/or a sidecar, chances are you’ll want the extra coverage towards optional equipment.

Roadside Assistance Coverage – If you need your bike towed, fixed, or any sort of roadside assistance, Foremost has you covered. They also provide Trip Interruption coverage in the event that you would experience a break-down or problems with your bike on a trip.

Safety Apparel Coverage – You can get up to $1500 in coverage towards safety apparel. This would cover things like biker jackets, helmets, goggles, leathers, etc. Anything that you wear to help increase your safety as a rider will be covered.

Trailer Coverage – If you have a transport trailer for your bike and need coverage, Foremost has you covered. They give you up to $7500 worth of transport trailer coverage.

Uninsured / Underinsured Motorist Coverage – These days not all drivers have insurance and/or adequate insurance. Although it is illegal to drive without insurance, many people still do. If you want to stay protected, Foremost offers uninsured and under-insured motorist coverage. If you get into an accident with a driver lacking insurance, you won’t have to worry.

Foremost Motorcycle Insurance Payment Options

Foremost offers the two basic payment options: either pay it all at once, or sign up to be billed on a recurring basis. These are the 2 most popular options, so that’s what’s available.

One Time Payment – Make one large payment and cover your entire insurance bill for the year. This option is good for people that have enough money to make a large payment and don’t want to worry about paying in smaller segments.

Recurring Payments – If you’d rather not make a large payment all at once, you have the option of signing up for recurring payments. This is usually done on a monthly basis and involves making smaller, more manageable payments than the “one time” option.

Foremost Payment Methods

  • Bank Account
  • Credit Card
  • Debit Card
  • EFT
  • Mail
  • Online

Does Foremost offer paperless billing?

Yes. If you would like to help cut back on clutter and avoid having stacks of paper bills taking up space in your house, you should go paperless. If you would like to “go paperless,” all you need to do is enroll in paperless billing online under your account. The process is simple: just log-on to your account, select the paperless option, and you are set. Most major insurance companies offer a paperless option these days and Foremost is no different. You can access all of your billing information on your online account at anytime, so paperless makes sense to most people anyways.

Foremost Motorcycle Insurance Discounts

Now that you have checked out the types of coverage that are provided with Foremost policies, it may help to determine whether you are eligible for any discounts. With most insurance companies – you get what you pay for in terms of coverage. However, there are typically many unique ways to save money through discounts. Check below find out the many ways in which you could save.

Affinity Group Discount – If you are part of one of Foremost’s affinity groups such as the AARP or Grandparent.com, you will be rewarded with a discount.

First Accident Waiver Program – If you are a customer that has a good driving history (i.e. no major accidents or traffic violations), Foremost will waive the premium surcharges on your first accident.

Helmet Discount – If you are a rider with a motorcycle helmet that has been DOT approved, they will give you $500 worth of additional medical payment coverage.

Multi-Policy Discount – If you have multiple policies or need insurance on multiple bikes and purchase them all through Foremost, you will save additional money.

Policy Renewal Discount – You will save money if you decide to renew an existing insurance policy with Foremost for another year.

Preferred Operator Discount – If you assign a preferred operator to your bike, this reduces risk – which in turn gives you another discount.

Safety Course Discount – By signing up for, taking, and completing a Foremost-approved motorcycle safety course, you will be granted a discount. If you haven’t taken a safety course yet, it will help make you a better rider and give you money off of your insurance.

Safety Equipment Discount – If your bike has anti-lock brakes and an airbag installed, you will be given a discount for each of these safety features.

Security Discount – If you have installed an approved vehicle recovery security system on your bike, you will be granted a $500 deductible waiver on Other Than Collision (i.e. comprehensive) if a claim is filed for bike theft.

A.M. Best Rating: A (Excellent)

The financial strength rating given to Foremost is that of an “A” from A.M. Best. This indicates that the company has enough finances to pay customers’ claims on a timely basis. Additionally, this suggests that Foremost is unlikely to collapse or go out of business any time soon. This is a subsidiary of Farmers insurance – a company that is among the biggest in the United States. Companies that have a lower rating by A.M. Best may be a sign of bad things to come, but it looks like Foremost will continue to maintain a strong rating – they have found a niche and continue to do good business.

Customer feedback regarding Foremost is typically positive. The average user review is slightly over a 3/5 star rating. This is pretty favorable considering they are a smaller company operating through many independent agents. If you like going through an agent and don’t mind paying a little bit extra for services, this company may be one to consider for your motorcycle insurance.

Get Free Foremost Motorcycle Insurance Quotes Online!

Before you settle on Foremost or any insurance company, you need to compare quotes. You can use the quote box below or at the top of the page to determine which companies are offering the best deals in your location. The quotes from this site are 100% free and there’s no risk – it’s just a tool for people to compare different companies. Most companies these days offer pretty extensive coverage fore motorcycles. Collect some quotes and do a little bit of research before you determine whether Foremost is the ideal fit for your biking needs.  Bottom line: If you are considering Foremost, check out Farmers first (as that’s who owns them).  Any Farmers agent can sell Foremost insurance.

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