motorcycle insurance questions help

[mela]

Hi,

I am trying to decide on motorcycle insurance.
What is the best and most reasonable company that you know of?
Also, what do people normally take for their liability and property damage limits plus uninsured and underinsured motorist liability limits ?
Do you take comprehensive and collision and what type of deductibles?
Also, they are saying medical coverage could be taken such as $1,000 coverage.
As I said previously, I had my bike stored for the last 18 years and I would really like to ride this Suzuki this year, so now I will need to get motorcycle insurance.
I value your opinion and your expertise.
I would appreciate you getting back to me.
Thanks,
Mel
email at melalice2002@yahoo.com

 

[Outlander]

Where I live, I don't need motorcycle insurance, but I think this place might be able to help you out.

http://www.motorcycletraining-fl.com/basicriderscourse.htm

The insurance company can find you the best deals on what you are looking for in your state.

Good luck.

 

[mela]

Thanks

Thanks

Thanks i will check it out
in illinois insurance is a must
it is the law
what state do you live
thanks mel

 

[Outlander]

I live in Tampa, Florida. Insurance is mandatory on cars/trucks, but is not required on bikes. Go figure. The way people respect bikes down here, I am really surprised that insurance is not mandatory.

A lot of crashes due to either inexperienced drivers, or bikes that like to weave in and out of traffic when there is a traffic jam.... It has been said, that if you drive a motorcycle in florida, you are suicidal....

 

[80GS750]

i have progressive...

it was the cheapest by far..

as far as coverages go, different states require different amounts for minimums, when you call for a quote the company will know.


im 22 and i pay 180 a year for my 78 gs1000

 

[jbs80106]

State Farm for me...

State Farm for me...

Here in CO....

Because of the age of the bike, I carry only liability...so if its stolen or wrecked I'm S.O.L.

I pay $12/month. I carry pretty high on liability and on medical, even though I have medical insurance. You're insurance agent for your car/house should be a good place to start. Then shop around.

To me, doesn't make sense to carry 1 brand for car insurance and something else for motorcycle.....

 

[MelodicMetalGod]

There is no "best" insurance broker and/or company/underwriter. You simply call as many as you can stand to make time to call and go with what fits you best. Just makes sure that you get the same coverages and deductibles quoted from each company so that you're comparing apples to apples.

I recently did this for my GS550ES and my prospective 2008 Hayabusa. In calling around I contacted about 15 different companies (including Progressive, Geico, Allstate, State Farm and other "motorcycle" friendly companies). My high quote for a year for the GS (liability only) was $200 and the low quote was $80! The Hayabusa was even more extreme, the high quote for a year (FULL coverage) being close to $3500!!!!...the low quote $500.

Oh, and the best quotes did NOT come from the same provider. :-s

You simply have to shop around...there's no rhyme or reason beyond the immediate buisiness strategies of the various providers.

Best of luck!

 

[mighty13d]

geico told me that my 82 gs850g was a sport bike. wanted $800 a year for liability. I asked if they had seen any pics of my bike because they were off their rockers if they thought I was going to pay as much for my bike as I do my car! I should have gotten a crotch rocket so I would have already been bent over and in 'the position' for the anal raping they wanted to give me! lol

 

[mela]

Thank you all for the come back.
I appreciate your input.
Question: What type of liability limits do people carry plus do people get a deductible for collision and comp or does it depend on the value of the bike?
Some insurance companies are talking liability $100,000 to $300,000 and $50,000 property damage and uninsured and underinsured $100,000 to $300,000.
Plus medical benefits of $1,000 to $5,000.
Or they go down to the basic minimum of $20,000 for liability, $40,000 per accident, $15, 000 for property.
Very confusing on what insurance coverage to put on the bike.
Have to realize that if you only paid a couple of hundred dollars for the bike, you are paying more for the insurance than the bike cost you.

 

[ShirleySerious]

I've almost sunk about what I paid for my bike in insurance (it's been almost 3 years). Sounds like a rip, but in Illinois, it's required. Not much you can do about that, besides being an outlaw (you need a Harley for that).

Luckily, I have barebones coverage, and pay about $40 a month, which is less than my cellphone. That's one of the good things about owning an old bike.

 

[MelodicMetalGod]

Thank you all for the come back.
I appreciate your input.
Question: What type of liability limits do people carry plus do people get a deductible for collision and comp or does it depend on the value of the bike?
Some insurance companies are talking liability $100,000 to $300,000 and $50,000 property damage and uninsured and underinsured $100,000 to $300,000.
Plus medical benefits of $1,000 to $5,000.
Or they go down to the basic minimum of $20,000 for liability, $40,000 per accident, $15, 000 for property.
Very confusing on what insurance coverage to put on the bike.
Have to realize that if you only paid a couple of hundred dollars for the bike, you are paying more for the insurance than the bike cost you.

Look up the blue book value of your bike...that's about what the insurance folks will total it for. I've never owned a bike valued at more than about $1500 dollars. Therefore, I've never carried comprehensive/collision coverage for my bikes. I carry state minimum liability for my GS and I think that's what most folks are doing. Doesn't make sense to spend lot's of dollars EVERY year b/c you may someday get a payout of only a few times your annual premium.

 

[bwringer]

I switched to Sentry/Dairyland a couple of years ago, and I'm paying $67 or $69 a year for liability only on my two old bikes. (I just turned 40, and I have a clean record.)

If you carry a passenger regularly, you might want to think about beefing up your passenger liability coverage.

If you're rich and have a lot to lose, then you might want think about raising your liability coverage to protect your other assets, but in general there's not a whole lot of damage a bike can do to other stuff, so most people are comfortable with the state minimum for liability (whatever that is for Illinois.)

Personally, I think buying comp/collision on a vintage bike is insane. But I know some people carry it because it usually doesn't cost much. However, the potential payout if something disastrous happens is limited to what the insurance company thinks your GS is worth, which I will guarantee you is far, far less than what you think it's worth.

Basically, a squashed fly on the tank or a parking lot tipover will financially "total" the bike, so comp/collision is worse than pointless, IMHO. Your slightly cosmetically damaged pride and joy gets sent to the junkyard while you get a check for maybe a couple hundred bucks.

After my biff last year on the VX800, I patched it up using eBay parts and some Suzuki OEM parts for around $500 total and I've been riding the snot out of it ever since. It would take another $1,300 in Suzuki parts (tank, exhaust, frame cover, etc.) to make it perfect again, but I'm not planning on doing that. It's safe and works fine, and a fantastic classic bike is still on the road and being enjoyed. Still looks great from the right side, too.

If an insurance company had been involved, they would have totaled it right away and it would have been made into beer cans by now.

Classic motorcycles are worth a lot more than money -- they're made of time, determination, and sweat, too.

 

[bwringer]

Look up the blue book value of your bike...that's about what the insurance folks will total it for.

Try about 2/3 to half of Blue Book, and you're in the ballpark.

 

[80GS750]

well thats depressing....

it makes you wonder, why insure something thats not worth what they are gonna give you anyways???

lol

 

[1980GS1000E]

I am with Progressive and I pay $79 a year for my Suzuki GS and my '84 Kawasaki 900 Ninja with minimum liability coverage only, for the reasons stated by Bwringer above. Medical coverage is unnecessary if you have medical insurance through some other carrier, such as your employment.

 

[MelodicMetalGod]

I am with Progressive and I pay $79 a year for my Suzuki GS and my '84 Kawasaki 900 Ninja with minimum liability coverage only, for the reasons stated by Bwringer above. Medical coverage is unnecessary if you have medical insurance through some other carrier, such as your employment.

Careful...there's been a big move in the medical insurance industry to specifically exclude injuries sustained while riding motorcycles from coverage!!!! Not every policy does this but many do and they DO NOT adverstise the fact. Do yourself a favor and READ your policy to ensure that there is no such exclusion and call the claims department and ask them as well. Too many folks nationwide have thought their medical policy covered them only to find out after the fact that "motorcycle related injuries" were excluded via the fine print.

 

[1980GS1000E]

I have never heard that.

 

[mortation]

Personally, I think buying comp/collision on a vintage bike is insane. But I know some people carry it because it usually doesn't cost much. However, the potential payout if something disastrous happens is limited to what the insurance company thinks your GS is worth, which I will guarantee you is far, far less than what you think it's worth.

Thats not true for all insurance. At progressive you can account for all your "extras" as long as you elect that coverage, select a total, and keep you receipts.

 

[DickV]

Insurance company

Insurance company

I also have coverage with Sentry/Dairyland. I got the first policy with an independent agent but he since retired and there is not another agent in the area. I now deal directly with the home office in Wisconsin. The policy they offer was the lowest cost of any I found. Don't have any idea how they perform when a claim is filed. I pay about $80/yr for my 1982 GS450T with high coverage for all options. Dick V

 

[chuckycheese]

Curious!

Curious!

Careful...there's been a big move in the medical insurance industry to specifically exclude injuries sustained while riding motorcycles from coverage!!!! Not every policy does this but many do and they DO NOT adverstise the fact. Do yourself a favor and READ your policy to ensure that there is no such exclusion and call the claims department and ask them as well. Too many folks nationwide have thought their medical policy covered them only to find out after the fact that "motorcycle related injuries" were excluded via the fine print.

Just out of curiosity....could you give us a couple of names of insurance companies that have such a policy??8-[