Liability only for insurance?
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It really depends on what you want to pay. I paid for my bike in full. I chose for just the state requirments beacuse i didnt like the price of full coverage . I also am finacialy able to pay for any damages on my bike if i damage it in crash or dropping it.
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I only have liability since full coverage runs about $1500 a year and that is through Geico. mine is $600 for 12 Months, bare minimum coverage and that is with a loan.
Have full coverage, sort of.....
Just picked-up my bike a couple of days ago. No lien. At first was just going to get liability only; however, hope to do some traveling. Parked outside of a motel, be easy for someone to come by in a pickup and just make off with it. So, I got liability and I think $500 deductible comprehensive. Then I called them back and added $1000 collision. Think it cost a little over $200. Been with the company forever, OK driving record, and have house and truck insured...plus, I'm old. I think you should definitely consider insuring for theft.
Regards,
George
Just picked-up my bike a couple of days ago. No lien. At first was just going to get liability only; however, hope to do some traveling. Parked outside of a motel, be easy for someone to come by in a pickup and just make off with it. So, I got liability and I think $500 deductible comprehensive. Then I called them back and added $1000 collision. Think it cost a little over $200. Been with the company forever, OK driving record, and have house and truck insured...plus, I'm old. I think you should definitely consider insuring for theft.
Regards,
George
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Sorry, Foremost was 3-4 TIMES the price of Progressive when I checked them. It almost blew me out of doing the purchase.
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These bikes get totaled out pretty easily. I would sticj wth full coverage so if you do lay it down it's covered. Just my .02
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I'm an insurance agent and I'm here to help. LOL
a) going with "Liability Only" coverage makes sense if the cost of "Full Coverage" is prohibitive to you (and I mean YOU, not anyone else here or anywhere) and if you are not financing your purchase, in which case you are required (usually) to carry coverage for damage to the bike itself.
b) Progressive, Foremost, and Dairyland are 3 very good companies to look at. Also, if you have State Farm for your autos, then talk to them, too. Do NOT eliminate a company because someone here said their rates were high and do not choose one company because people here said their rates were low. Your rate is based upon more factors than the type of bike (I have listed some of them in another thread), so get quotes from ALL the recommended companies to be sure you get the one that's right for YOU. Personally not a fan of GEICO, but that's just my opinion--I don't like their business model.
c) buying "direct" (internet or toll free) is not necessarily any cheaper. A good independent agent should be able to get you the price you want along with some very expert advice about coverage limits and quality of the insurance company you are thinking about.
d) A-C above only apply to folks living in the U.S. I don't know anything about other countries' insurance laws.
Hope this helps
a) going with "Liability Only" coverage makes sense if the cost of "Full Coverage" is prohibitive to you (and I mean YOU, not anyone else here or anywhere) and if you are not financing your purchase, in which case you are required (usually) to carry coverage for damage to the bike itself.
b) Progressive, Foremost, and Dairyland are 3 very good companies to look at. Also, if you have State Farm for your autos, then talk to them, too. Do NOT eliminate a company because someone here said their rates were high and do not choose one company because people here said their rates were low. Your rate is based upon more factors than the type of bike (I have listed some of them in another thread), so get quotes from ALL the recommended companies to be sure you get the one that's right for YOU. Personally not a fan of GEICO, but that's just my opinion--I don't like their business model.
c) buying "direct" (internet or toll free) is not necessarily any cheaper. A good independent agent should be able to get you the price you want along with some very expert advice about coverage limits and quality of the insurance company you are thinking about.
d) A-C above only apply to folks living in the U.S. I don't know anything about other countries' insurance laws.
Hope this helps
I've got Rider Insurance on my ceebee, full coverage with $250 comp and collision deductibles, and I pay .. $89 a year. They even toss in free roadside assistance and towing. Dairyland was my next lowest quote and they wanted almost 400 a year. I can't complain!
I agree with those points. You really should shop around for the best insurance rates, and talking to an agent/Progressive's online agent tool is by far the best way to get a reasonable quote. There was a 300$ difference between an agent quote and the online direct Progressive quote for the same coverages for me. Don't be afraid to talk to an agent; you can get up and walk out whenever you want if you don't like the prices.I'm an insurance agent and I'm here to help. LOL
a) going with "Liability Only" coverage makes sense if the cost of "Full Coverage" is prohibitive to you (and I mean YOU, not anyone else here or anywhere) and if you are not financing your purchase, in which case you are required (usually) to carry coverage for damage to the bike itself.
b) Progressive, Foremost, and Dairyland are 3 very good companies to look at. Also, if you have State Farm for your autos, then talk to them, too. Do NOT eliminate a company because someone here said their rates were high and do not choose one company because people here said their rates were low. Your rate is based upon more factors than the type of bike (I have listed some of them in another thread), so get quotes from ALL the recommended companies to be sure you get the one that's right for YOU. Personally not a fan of GEICO, but that's just my opinion--I don't like their business model.
c) buying "direct" (internet or toll free) is not necessarily any cheaper. A good independent agent should be able to get you the price you want along with some very expert advice about coverage limits and quality of the insurance company you are thinking about.
Hope this helps
@shaddix
Owning a house, married, etc plays a HUGE part in insurance rates, as does the zip code you keep the bike at. If I changed my zip code to one a couple towns over, it drops 100/year. Own a house, another 150/year. Riding experience does play a part with Progressive also.
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Note that if you do own a house, you should carry more than your states minimum coverage. If you cause an accident that 25k/50k coverage will be gone in a flash at the hospital, and if that's your limit of coverage, they will come after your house next.
Getting a judgement for an at-fault accident is one thing, but afterwards which would you rather have:
1. Higher insurance coverage to cover the loss.
2. Your house siezed and auctioned off (homeowner).
3. Wages garnished (non-homeowner or both).
That's a very good point. Liability insurance is pretty cheap on these though so no one should really ever carry the minimum. I think it's a 30$ difference from 30/60/25 to 250/500/100.
I guess to most people the high limit might be overkill, but I'd rather spend 30$/year instead of the tens of thousands in case I cause an accident at fault and the state minimum runs out. Peace of mind kind of thing.
I guess to most people the high limit might be overkill, but I'd rather spend 30$/year instead of the tens of thousands in case I cause an accident at fault and the state minimum runs out. Peace of mind kind of thing.
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man geico insurance is way higher for motorcycles progressive is the way to go. I pay $800 a yr less for better Coverage with a $250 deductible and a $30000 accessory coverage plus road side assistance! My advice use geico for cars progressive for bikes
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This bike is cheap to insure full coverage. Im paying 44$/ month with Geico. I even has roadside. where a tow truck may come in but charge on a separate rate. The tow companies charge which is really expensive. Glad there maybe people (other riders) in my area that may help on that.
I currently have a 150cc scooter (Kymco Super 8 150) and I'm paying for liability only for that for $109 / year. I wanted to get either a CBR 250R or a Ninja 650, but full coverage would jump to $2,300 for the CBR and $3,300 for the Ninja. (35yo / married / riding for 1 year)
I won't be getting either one until next year and I'll be taking MSF classes in 2 weeks so when the 2 year mark comes up, hopefully it will be much cheaper. (of course, I will shop around, too)
I won't be getting either one until next year and I'll be taking MSF classes in 2 weeks so when the 2 year mark comes up, hopefully it will be much cheaper. (of course, I will shop around, too)
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