| Author | Message | ||
     Chigirl |
I just bought a 2009 XB12Scg and was wondering how much and what type of coverage to carry on her. I also have a Blast and an S2 but since they are older, I carry the state minimum. I am have Progressive, if that matters. Thanks | ||
| Nevrenuf |
first of all congrats on the scg. we went ahead and got another to replace the wifes that i wrecked a couple years ago and like the other buells, really like it. when it comes to insurance, especially after the end of buell,i'm not skimping on it to save a buck. we have full coverage on everything. make sure you find out about the multiple bike discount and don't be afraid to do some shopping. remember, trying to replace the bike will just get harder as time goes on. and if you want to save a few bucks, up your deductible.this is just my opinion. | ||
| Donniej |
I keep $150K coverage with everything except collision. Collision tripled the price and if I wreck my own bike, I guess I deserve to pay to fix it  Theft, uninsured and underinsured are wise in Philadelphia since so many people drive illegally. | ||
| Saratoga |
I have 100/300/100 coverage with a 500 ded. It's the exact same coverage I have on my auto policy. | ||
| Firebolt32 |
Definitely get the max! I lucked out. My father legally owned my bike and the insurance was under his name as well. When I got hit in Dec. we found that I was NOT an insured rider. Funny how the insurance company didn't tell us that UNTIL I got hit, knowing I was the primary driver of the bike. Luckily he hit me and I didn't hit him. If I hit him I would have been screwed. In FL you legally don't have to have insurance on a motorcycle but it's a double edged sword. | ||
| Hodakaharold |
Progressive sells direct but also goes thru local agents, I recommend contacting a local agent that sells motorcycles insurance. Geico, Progressive and Safeco all have great motorcycle programs. Dairyland is another favorite of mine. An good agent can explain a lot. Ignorance is not a good plan. As for liability coverage, a lot of people carry the state minimum, the problem with that, if you cause an accident, you may not have enough coverage to take care of the damage you may have caused. Getting stuck with the balance of the bill because you are legally liable is not fun. I carry 100,000/300,000/100,000 which means the most the policy would pay for someone injured in the other vehicle for injuries would be $100,000 per person with a maximum of $300,000. The last $100,000 covers the property damage caused to the other vehicle or property. $100,000 might cover a semi truck if you ran one off the road. If you have a loan, your lienholder will require collision and comprehensive coverage. Collision will take care of your damage to your bike from a collision, comp will cover other damage other than collision such as fire, vandalism, theft, wind, hail, etc. A good agent could discuss if accessories are covered or not, may not be a big deal on a Buell but is a killer if you have a cruiser with a lot of extras. On my policy, my leathers, gloves and helmet are also covered. Most insurance companies do not want to write coverage for your medical bills, most people will opt out of that coverage. The medical varies from state to state. | ||
| Hodakaharold |
uninsured and underinsured varies from state to state, it mostly covers you in the event of your bodily injury which the other party is uninsured or has inadequate coverage. Some states such as Texas also has uninsured property damage which will deal with your damages if your bike is damaged and the other party does not have insurance or has their coverage denied for various reasons. | ||
| Doughnut |
It is changing in WI. | ||
| Blake |
"I have 100/300/100 coverage with a 500 ded. It's the exact same coverage I have on my auto policy" You might reconsider. An automobile has the capacity to inflict a LOT more damage to other property, specifically other automobiles. How is a motorcycle likely to damage someone's that will amount to $100K? You'd have to total some brand new exotic sports car or the like. A motorcycle is going to run a new semi-truck off the road??? Huh? It seems like $25 or $50K in property damage liability is plenty to me, but I don't live in Las Vegas with all the fancy cars tooling around either. Going to a $1K deductible will save a BUNCH on the premium for comprehensive and collision is you carry it. I don't. Not having a motorcycle for a few month while I find another isn't a financial hardship for me. In my view, too many riders look for insurance to protect them from having to pay almost anything versus protecting them from serious financial hardship. It just doesn't take too many years of lower premiums to make up the difference in coverage for policies with $500 versus $1000 deductible. If you have health insurance, a high PIP is not un-necessary; your health insurance should cover you. The trick is to put in the bank any savings gained from going with higher deductibles, so you'll have it should you need it. (Message edited by blake on March 17, 2010) | ||
| Hodakaharold |
A motorcycle can cause a vehicle or semi truck to swerve to avoid a collision, ever crossed the center line in a spirited ride? The other vehicle can quickly be a total loss if it runs off the road or hits another vehicle, $100,000 does not go far if you ran lets say a concrete pumper truck off the road, not only is the claim for the value of the vehicle (total loss) but in a claim I handled last fall, we paid over $50,000 in lost income for this pumper concrete truck that was out of service waiting on repairs. It really is not much fun to be hounded by a collection agency because you thought there was no way you could cause that much damage to any vehicle. | ||
| Hodakaharold |
In states that have PIP insurance, it is primary and your health insurance in secondary, health insurance will only pay once the auto medical payment or PIP, personal injury protection (depends on the state)has paid its limit. Most riders cannot afford PIP or med pay, very expensive, most opt out. | ||
| Hodakaharold |
A motorcycle is going to run a new semi-truck off the road??? Huh? I guess if they don't get your license tag number when you cross the center line, you might be ok. | ||
| Blake |
"ever crossed the center line in a spirited ride?" Without being able to see oncoming traffic? Maybe three times and all back when I was indestructible. I haven't done so in decades. The odds that a cement truck or anything costing six figures would be coming the other way for those three instances are incalculable; they are absurdly, nearly infinitesimally tiny. The odds that said six figures vehicle would be totaled as a result are even less. You can always pluck a red herring here or there. I'd not live life or budget my insurance based on such infinitesimal probabilities. Insurance agents would have us insuring ourselves against the most ludicrously improbable scenarios. It's how they make a living. It's just not justified if you are a responsible rider. If you aren't a responsible rider, then by all means get the highest coverage you can find. | ||
| Wavex |
I'd recommend FULL coverage + MEDPAY + under-insured + uninsured. This is what I have now after being involved in an accident in which the other party was at fault (illegal left hand turn). I spent 6 hours in the ER, which ended up costing $30k (yes, ridiculous). The other party had only $15k liability, so the balance of $15k was for me since I did not have under-insured insurance (yes, ridiculous again...). Imagine if I had needed any type of surgery or anything... I`d be in the hole for hundreds of thousands... Cover yourself, your family, your belongings (house etc...) and get proper coverage is my advice. | ||
| Blake |
I hate insurance laws. I hate the irresponsibility that insurance breeds in some. I hate insurance companies that try to scare people into giving away more of their money. Insurance companies are in business for one reason, to make a profit. Good on 'em! I support that endeavor. But I don't appreciate seeing a con perpetrated on folks to scare them into buying more insurance than is justified. "Ever go for a spirited ride and cross the centerline?" Take it to the track. | ||
| Blake |
The other party had only $15k liability, so the balance of $15k was for me since I did not have under-insured insurance (yes, ridiculous again...). Imagine if I had needed any type of surgery or anything... I`d be in the hole for hundreds of thousands... Cover yourself, your family, your belongings (house etc...) and get proper coverage is my advice. I agree. Did you not have any health insurance? I'd suggest that should be first on the list of insurance priorities. A high deductible policy that covers against catastrophic damage is not expensive at all. You hired no attorney to sue the party at fault? They had no means (job, income, property) to give in support of your damages? It's routine for courts to award damages and to force the at fault party to pay them through garnishment of their wages. The uninsured/under-insured coverage is definitely justified. It's usually not too expensive. | ||
| Wavex |
I did and do have health insurance, but they covered bits and pieces only... I was left with a few grands out of pocket. I did also have a lawyer (thank god as he saved me from lots more trouble with my ex-insurance company... that story is for another thread though... but bottom line: whenever there are bodily injuries involved, GET A LAWYER RIGHT AWAY!!! no matter what the case or how straight forward it looks... injuries = lawyer), and he investigated the 18yo Asian chick driving daddy's car, and she basically had nothing to sue for, so it was not worth it. Bottom line I got out of this whole ordeal: don't count on other's insurance to cover yourself and your family... spend the $$ to cover yourself properly for the worst, because it can happen very very quickly no matter how good a rider you think you are. I am with AAA and I have 3 cars + my house + my Buell with them and the package price is great... I only pay $400/year for FULL coverage on the Buell + MEDPAY (I wish I had that when my accident happened) + under-uninsured... $400!!! that's nothing for the piece of mind. | ||
| Firebolt32 |
Can you call my wife WaveX? I need that 1 millionth caller to say that. I'm going through this now. Broke both bones in my right leg which required a rod in each and broke my left wrist. All this only two months from being out of a cast on my left arm because I shattered it. Sure, the guy who hit me told police on scene he was at fault as well as his insurance company. Wifey feels we don't need a lawyer due to the insurance company's credibility and out going support. We actually received paper work today stating the insurance company will pay us out 75K. But it makes me nervous. I have too many variables...Legally my dad's bike, I'm not an insured rider, guy hit's me with company truck and of us have the same insurance company. Sorry didn't mean to jack the thread. That just sparked the fury..... | ||
| Wavex |
One word: lawyer!! And wait to get ALL the bills from everything before you sign anything from any insurance (including your own). Make your own list of everything, or get a good lawyer and he'll take care of everything for you... and negotiate the MAX $$ possible to cover the bills (and reduce them), you, your family, and of course some for himself. A lawyer's advice in these cases is critical in many levels imo (unless you know the system). At least for me, it saved me from lots more headaches, which I really did not need in these times (sounds like you are worse off than me!). In your case, this accident may have very long term effects on your life (some that you don't realize now), so you want to take your time and don't sign anything for a while. Good luck. |
