Author Topic: Another insurance thread aka when to go liability only?  (Read 5024 times)

Offline maxtog

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Re: Another insurance thread aka when to go liability only?
« Reply #15 on: September 20, 2018, 03:27:36 pm »
Yeah, I always have that argument with myself.  Full coverage is a joke, because it absolutely cannot and will not be able to replace what I have... which it is known, nearly perfect condition.  But at least it is something and it goes down each year.  Hmmm.

I am paying $284/yr, full coverage, State Farm, $100k/$300k injury, $50k property damage, $100 non-collision deductible, $250 collision deductible.
Shoodaben (was Guhl) Mountain Runner ECU flash, Canyon Cages front/rear, Helibars risers, Phil's wedges, Grip Puppies, Sargent World seat-low & heated & pod, Muzzy lowering links, Soupy's stand, Nautilus air horn, Admore lightbar, Ronnie's highway pegs, front running lights, all LED, helmet locks, RAM Xgrip, Sena SMH10, Throttle Tamer, MRA X-Creen, BearingUp Shifter, PR4-GT, Scorpion EXO-T1200,etc

Offline okrider

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Re: Another insurance thread aka when to go liability only?
« Reply #16 on: September 20, 2018, 03:41:30 pm »
Wow. I'm paying $250 for liability only on my 2011 C14. Tried adding collision and comprehensive. Literally doubled the amount. I'm alright the way it is.
'11 Black: Russel Day-Long, Mountain Runner, cage w/ highway pegs, 2Bros Slip-on, Helibars Horizon

Offline maxtog

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Re: Another insurance thread aka when to go liability only?
« Reply #17 on: September 20, 2018, 04:56:55 pm »
Wow. I'm paying $250 for liability only on my 2011 C14. Tried adding collision and comprehensive. Literally doubled the amount. I'm alright the way it is.

Well, as you know, there are a zillion factors that can affect the rates.  I do have a perfect record (zero traffic citations, high credit rating, no claims, on-time payment, etc), which matters a lot.  Location and age also matter a lot (I am NOT 50 quite yet, however).  And some insurance companies look at the 1400 Concours and see it as a super-bike ($$$), and others as a touring bike ($), and perhaps some actually see it for what it is- a sport touring ($$).
Shoodaben (was Guhl) Mountain Runner ECU flash, Canyon Cages front/rear, Helibars risers, Phil's wedges, Grip Puppies, Sargent World seat-low & heated & pod, Muzzy lowering links, Soupy's stand, Nautilus air horn, Admore lightbar, Ronnie's highway pegs, front running lights, all LED, helmet locks, RAM Xgrip, Sena SMH10, Throttle Tamer, MRA X-Creen, BearingUp Shifter, PR4-GT, Scorpion EXO-T1200,etc

Offline gPink

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Re: Another insurance thread aka when to go liability only?
« Reply #18 on: September 20, 2018, 06:17:06 pm »
I've got an agreed value policy from american collectors on my 1982 GS1100GK.  They've been raising the agreed value $500 per year every year.  It now costs me about $220 a year with 250/500k liability limits.  2500 miles per year allowed. If I total it today, they will pay me $6000 for that bike.  If that happens, I'll miss her.  I think 6 grand will soothe my broken heart!

Does coverage include it falling off a trailer?  8)
Thank God for good men willing to do extreme violence.

Offline jettawreck

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Re: Another insurance thread aka when to go liability only?
« Reply #19 on: September 22, 2018, 06:51:32 pm »
Liability only on both the C10's I had and now the Honda ST1300 also. My cost is $130 for the year, but riding season is only about 6 months long per term. No comp damage available w/liability, have to go full coverage for that with my carrier.
I figure if the cost of replacing the item isn't going to hurt me much, especially on something I really don't HAVE to have, there is no point in fully insuring it. My claim history is pretty low.
This street bike thing is all new to me.
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Offline mr t

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Re: Another insurance thread aka when to go liability only?
« Reply #20 on: September 27, 2018, 05:19:54 pm »
 

  Liability only on my 02 C10 in FL costs me $60 . Liability only on my 06 C10, 03 Suzuki DRZ400, and my 02 Kawasaki Prairie 650 costs me $75 in NY. Go figure.

   Tom Taylor COG#7173

Offline MAN OF BLUES

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Re: Another insurance thread aka when to go liability only?
« Reply #21 on: October 01, 2018, 11:03:25 pm »
About the personal injury protection..,
My insurance company said they would pay at the end, in one big lump sum.  Doctor's & hospitals want to be paid a little sooner than that.  Healthcare at work has deductibles.  The personal injury rider was paying as I produced receipts.  No questions asked.

once your bike is down to $4k in comparable sales prices as used bike go, it's a tough decision on keeping full coverage, most likely the only reason to have it is if there is a loan being paid, and they insist on it..
 But the bike value is moot, compared to medical costs... and it's hard to get high value medical coverage, without the big ticket full cover...
Your 'medical plan from work/other' does not cover you really, in a crash scenario, in fact, they can actually dump you as you are doing something they consider as a 'high risk'...
High personal injury coverage, tied into your vehical insurance is EXTREMELY important, a minor spill, and single visit, or a broken bone taken care of in a hospital, is a BIG $$ figure now, let alone heaven forbid, a serious crash, requiring a hospital stay of a week or more...
Case in point, and this may not relate to your insurance or locality prohibiting this ...
When I lived in Va., and was insured by Geico, all of the policies for all vehicals, had an 'accumulated' value of medical coverage, so with 3 trucks (one full coverage, due to a loan) and 4 bikes, all fully covered, we had a total 'coverage' of close to 1 million $, but that's because Va. allowed the insurance companies to 'total'.. so, I reduced my cover on the bikes that were not financed, and valued at less than $3k resale, to liability.. and then my cost went up to keep the same personal injury figures.. it actually didn't pay to reduce the coverage.

it's all about the persons body getting fixed, not the bike value.. personal injury insurance pays right up front..  hell, I wish my health insurance was as reliable, as they paid willy nilly, dribbling payments whenever, and still missing some, causing major p.i.t.a. back and forth stuff..

it pays to check variables in personal protection, in combination with the vehical values and covers..

30 YEARS OF KAW.....

Offline fartymarty

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Re: Another insurance thread aka when to go liability only?
« Reply #22 on: October 09, 2018, 11:19:03 am »

 But the bike value is moot, compared to medical costs... and it's hard to get high value medical coverage, without the big ticket full cover...
Your 'medical plan from work/other' does not cover you really, in a crash scenario, in fact, they can actually dump you as you are doing something they consider as a 'high risk'...


I had never heard of this, is it stated loud and clear in the insurance documentation or well hidden down in the gray dinky print?
Of course I've passed into the severe gray area now where medicare part A is my primary hospital stay insurance, and my regular BCBS coverage is primary for part B stuff and secondary for hospital stays. I've never heard of medicare not allowing for motorcycle injury recovery coverage. Anybody else heard of such goings on? Anybody?

Offline MAN OF BLUES

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Re: Another insurance thread aka when to go liability only?
« Reply #23 on: October 14, 2018, 06:19:46 pm »
I had never heard of this, is it stated loud and clear in the insurance documentation or well hidden down in the gray dinky print?
Of course I've passed into the severe gray area now where medicare part A is my primary hospital stay insurance, and my regular BCBS coverage is primary for part B stuff and secondary for hospital stays. I've never heard of medicare not allowing for motorcycle injury recovery coverage. Anybody else heard of such goings on? Anybody?

I highly suggest your in depth discuss both insurance types with your providers, as i cannot supply information as to what your individual plans do cover, but I am very sure, that both "health care insurance" and "vehicle insurance/medical coverage" are very divided, and separate entities of there own, within each policy.
Historically, they are very divisive, and exclude one insurance from covering something the other covers, in short, they disallow being "covered twice", and stipulate these divisions in the "gray dinky print". Most times, and injury will provoke one policy null and void, with respect to coverage the other provides, preventing the "double dipping", or even combining them to reach an equitable amount to cover exorbitant medical costs today... It's sad, but a basic fact, you can never visit a hospital, and NOT pay something... they make sure of that...they want YOUR cash..
I know my Geico insurance has clauses on it's "disallowed" coverage, being combined with a healthcare policy simultaneously. As far as Medicare (which I am beginning the process on), I'm certain it would be virtually impossible to get them to pay for anything... that's their job it seems, to "not provide when ever possible"..

30 YEARS OF KAW.....

Offline katata1100

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Re: Another insurance thread aka when to go liability only?
« Reply #24 on: October 15, 2018, 02:33:08 pm »
Your health insurance e WILL cover you if in you’re in accident. If you have health on your bike policy, that will become your primary . It’s illegal to draw from both at the same time. There are adavantages
to having health coverage even if you have your own health insurance.
Costs vary so much, you just have to shop. People will say their State Farm policy is cheap, but then they’ll pay a ton for sf auto coverage.
Fwiw, I used to be an adjuster and let me tell you, it doesn’t take much for a bike to be totaled, sometimes, just falling over on the kickstand is enough so be careful out there!

Offline Conniesaki

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Re: Another insurance thread aka when to go liability only?
« Reply #25 on: October 15, 2018, 04:16:06 pm »
$5K. That's my current pain-from-loss tolerance threshold.

Also a factor is that entering into agreements with others these days does not on average seem to work out as well as it did decades ago. In other words, I don't trust insurance companies to actually pay a valid claim I might make. And so the easier, simpler, cheaper thing to do is to just retain the premiums I would've paid and not enter into any more agreements than I determine are necessary. I get to keep the money. I make all decisions. There's nobody to deny my rightful claim. I don't have to read thin page after thin page of small font Terms & Conditions, Exclusions, Definitions, Clarifications, etc etc many of which require a law degree to really have any chance of understanding. Nice  :thumbs: