Full Coverage or not..
- Thread starter pure_ego
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I rolled outta the showroom w/ just liability. Unfortunatly in NJ there is one insurance company that deals with motorcycles. They offer only full coverage or liability w/ nada in between. 1,600 hunj for full and 158 a year for liability. That is ALL they offer. State Farm pulled out of NJ a few years ago.
I have a few issues w/ insurance companys as many people do. I have never made a claim, I always pay on time, and I have never had any points (knock on wood). All I've ever gotten were insurance cards and reciepts for all the money I have paid.
If I wreck my Busa and it is my stupid fault, I deserve to pay outta pocket. If someone hits me it's covered. Which only leaves the theft issue that I am very afraid off. I am almost considering switching to full coverage just for this,but get this: my insurance co. will ONLY pay the book value of the bike, which is around 8-9k. I have over 20k invested. I don't feel to bad. A friend owns a Ducati ST900, the same insurance co. implies a surcharge of 2,000 bucks, just cause it a exotic sportbike. Needless to say he's rollin' w/ just liability.
I have a few issues w/ insurance companys as many people do. I have never made a claim, I always pay on time, and I have never had any points (knock on wood). All I've ever gotten were insurance cards and reciepts for all the money I have paid.
If I wreck my Busa and it is my stupid fault, I deserve to pay outta pocket. If someone hits me it's covered. Which only leaves the theft issue that I am very afraid off. I am almost considering switching to full coverage just for this,but get this: my insurance co. will ONLY pay the book value of the bike, which is around 8-9k. I have over 20k invested. I don't feel to bad. A friend owns a Ducati ST900, the same insurance co. implies a surcharge of 2,000 bucks, just cause it a exotic sportbike. Needless to say he's rollin' w/ just liability.
Furball
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More worried about theft than anything else....but it is a sense of relief knowing that it is fully covered.....hell these bikes are worth more than most peoples cars....
Had a bike stolen b4 w/o full coverage, got it back but had about $900 worth of damage to get it back to cormal and it was just a $2999 bike.....(wife's 250 Ninja)
Had a bike stolen b4 w/o full coverage, got it back but had about $900 worth of damage to get it back to cormal and it was just a $2999 bike.....(wife's 250 Ninja)
not if you live in zip code 90066!!!
Try $6,000 a year for the cheapest around.
42, no tickets, fully insured, California, $870.00 per year
I'm very surprised at some of your answers boys.
I'll explain : Now if you are financing your bike or it's a full custom worth $20K or more then this doesnt apply but most of our busa's have a value of $10K or under and to insure an item where you pay aprox 1/10 or more of the cost of a newbike, per year, is outrageous! It's like paying $3500 per year for most of your suv's out there. I have comprehensive for fire, theft and vandalism only. Company is progressive and price is under $250 per year. I was quoted aprox $1500.00 per year for full coverage. I have ridden my busa for allmost 4 years without a claim. Had I fully insured her I would have spent approx $6K by now on a bike that has a market value of about $7000.00 Insurance is a funny thing you have to know when you should turn to self insure. With insurance you are essentialy betting your going to have a claim and the insurance co. is betting you arent and if you do your rates will probly go up on top of that. If you were to take the extra $1000+ per year and invest it you would maybe have enough to buy a new bike in a few years.
With my busa I felt "smart money" was to self insure and the only way to go, I also knew that it is a popular bike to steal so i went with theft coverage and they thru in fire protection. I also felt if I was unlucky to be hit by someone else most other insurances would cover my bike and if I was stupid enough to crash from my own stupidity ( which happened back in Sept ...
) then I would have to eat it.
So from a strictly $ vs. averages viewpoint most any vehicle worth under $10K is not worth having comprhensive / collision / full coverage.
... my 2 cents and then some.
ps. I am talking busa coverage only, I have a ton of "other" ins. Health $440 per month, life $1mil, home owners, auto, biz, umbrella ... it goes on and on ... I feel ins. poor
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I'll explain : Now if you are financing your bike or it's a full custom worth $20K or more then this doesnt apply but most of our busa's have a value of $10K or under and to insure an item where you pay aprox 1/10 or more of the cost of a newbike, per year, is outrageous! It's like paying $3500 per year for most of your suv's out there. I have comprehensive for fire, theft and vandalism only. Company is progressive and price is under $250 per year. I was quoted aprox $1500.00 per year for full coverage. I have ridden my busa for allmost 4 years without a claim. Had I fully insured her I would have spent approx $6K by now on a bike that has a market value of about $7000.00 Insurance is a funny thing you have to know when you should turn to self insure. With insurance you are essentialy betting your going to have a claim and the insurance co. is betting you arent and if you do your rates will probly go up on top of that. If you were to take the extra $1000+ per year and invest it you would maybe have enough to buy a new bike in a few years.
With my busa I felt "smart money" was to self insure and the only way to go, I also knew that it is a popular bike to steal so i went with theft coverage and they thru in fire protection. I also felt if I was unlucky to be hit by someone else most other insurances would cover my bike and if I was stupid enough to crash from my own stupidity ( which happened back in Sept ...
) then I would have to eat it. So from a strictly $ vs. averages viewpoint most any vehicle worth under $10K is not worth having comprhensive / collision / full coverage.
... my 2 cents and then some.
ps. I am talking busa coverage only, I have a ton of "other" ins. Health $440 per month, life $1mil, home owners, auto, biz, umbrella ... it goes on and on ... I feel ins. poor
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Relsek
Registered
The main reason I carry insurance on mine is for the medical portion of it. Health insurance from an employer is a fighting battle at every corner. I have found that with insurance claims with State Farm, I just report the incident, and they take if from there. I have had nothing but good experiences with them. I've been insured with them since 1984 through many cars, a couple of bikes and my house. Full Busa coverage with a ton of medical insurance is $380.00, double that and it's $760.00 per year. I think it's worth it.
Liability only full not available here in my nick of the woods.
try living in los angeles. got quoted 5500. from geico today - married, experienced rider, no tix/points/accidents etc.
managed to find something a bit more in the "normal" range, but it's still $$$...
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