Insurance - Liability v. full coverage

[RRkit]

This is a good reason why you need to carry comprehensive and collision insurance. when some fucktard steals your 4 month old bike and does this to it.

http://www.joe-r.net/~kitw/dead_bike/

 

[NoGall]

Butch, Eric and Wolf are right. Collision is separate from comprehensive. Spoke to my agent last night to get some clarification. On a pinch, go with Liability and Comprehensive, as comprehensive is not that much. Cutting out Collision would cut your cost by 50%.

 

[levitation]

just add comp in addition to liability, that way you are covered if the bike gets jacked or something.

yeah, again.....just add comprehensive, its cheap, its not collision, instead of asking here, call your agent and get the facts then.

 

[fubar929]

I think I am going to have to go with the liability for now. I would like complete coverage, but I don't have shit for assets that someone could sue me for.

Just make sure you get plenty of liability. As Thump pointed out, you could get sued and have your wages garnished every month until you pay off the judgement!

Also, the cost of full coverage each year would be equal to 1/6 the total cost of my bike. One of my points comes off in Dec. and I can get a 6 month policy until then and reprice it at that time.

Right. But are you planning to have a driving record this bad for the next six years? If you keep your nose clean, you should only be paying the high rates for a short period of time. Rather than playing Russian roulette you might want to think about getting a policy now, then changing it as your record improves. Heck, continue to shop every month and whenever you find a better rate just cancel your current policy and get the new, cheaper one!

You might also look into raising your deductible as a means of lowering the rate. With some companies, it doesn't help. With others, switching to say a $1000 deductible will save you a ton of cash compared to a $250 deductible.

Finally, paying every month can make an expensive policy a bit more tractable than having to pay all at once. Most companies will do this for a small processing fee...

 

[Bruce]

This is a good reason why you need to carry comprehensive and collision insurance. when some fucktard steals your 4 month old bike and does this to it.

http://www.joe-r.net/~kitw/dead_bike/

Was that the stolen bike involved in the high speed chase?
hope your insurance pays up dude,what a nice bike to have
stolen on you,jjjeeeeessuuusss i would be pissed;
hope it all works out for you

 

[Frag]

Do you know if insurance companies request a copy of your DMV record after they sign you up? Say I didn't mention the two points or they never asked...can they come back later and jack the price and make me pay? I guess I can be a cheap bastard...but car insurance, motorcycle insurance, health insurance, dental insurance, renters insurance, etc. Where does it all end???

If you go with just liability, I would strongly suggest not going with the bare minimum. No 15/30/5... try something along the lines of 25/50/25, or maybe a little bit higher.

As for not telling them about the two points, I believe they can do two things. First, yes they can jack your premium way up. Or better yet, I believe they can outright cancel you on the spot.

 

[christofu]

When choosing how much liability to go for I always assume that if I'm at fault in a crash then by Murphy's Law, I probably crashed into a Porshe and totalled it.

Oh, and the Porsche driver has whiplash and no medical insurance!

 

[R1Zig]

I was quoted $1600/Yr from Progressive for full coverage and almost didn't get a bike because of that. I ended up getting full coverage from a REALLY good State Farm agent in the East Bay for $580/Yr for the EXACT SAME coverage.

Synopsis, stay the F**K away from Progressive!

 

[ronbo]

Liability only (100/300/50k) through Progressive: $94/year (Ancient bike/ancient rider, so YMMV)
Like others have said, I'll pass on the collision, since I can pay for my own shit that I wreck, just don't want to be on the hook for OPP and wanna have the right insurance card for Johnny Law.