Bike Insurance!!!

[meie]

I may be buying a sport bike for the first time this coming Saturday. Can anyone provide me some good tips on a how I should distribute the coverage on my insurance plan. I'm currently using progressive.com and need to pay only 13$/month for my dual sport...but quoting a honda cbr600f2, it jumps to like 70+$/month. However, the coverage on my dual sport is pretty much maxed out. I highly doubt I'll need that kind of coverage. Can anyone give me some suggestions? If I go for minimum coverage, it comes out to be around 40+$/month, does that seem high?low?just right?

Any help is much appreciated!! THANKS!

[Motorcycle Forum]

[inspiron]

Insurance is, in this respect, something personal. If you can afford to pay higher deductables, then you can lower your premiums. If you aren't able or willing to pay high deductables, then you pay higher premiums.

The same is true with the "optional" coverage. You need to decide what you want covered - where is your comfort level? I have my car and bike fully covered - because if I am in an accident, I want to have everything repaired or replaced without spending too much out-of-pocket. But that's just me.

Other people are happy with minimum coverage, and are willing to accept the higher risks.

At the end of the day, it's your choice.

[meie]

Thanks inspirion. I think in the end, I want to have a decent coverage for those "just in case" situations. Even though the premium jumps a few hundred dollars, its better than paying thousands if something does happen.

I need to find a comfort zone because I don't find it worthwhile to fully cover a 94 honda cbr that costs 2500$. The insurance company will probably total it if I get some measley scratch on it.

Decisions...decisions...

[93katana]

That's exactly why most premiums are so cheap. Bikes don't cost much, and if you do total it, you're probably dead anyway...I'd go with less coverage beings that its not a "cherry" bike. just getting comprehensive along with your liability will cost you about 300 a year. Is it really worth it for a cracked fairing? Won't you ride it anyway?

[dcstrng]

Despite what your broker may try to tell you, I’ve discovered that just about everything in bike insurance is at least partly flexible/negotiable... This stuff ain’t retail (especially if you have an established history with a particular broker) and although they always tell me otherwise, they seem to find a way to get close to my price if I can show them they’re out of line... that plus the fact you can tailor the deductibles, liability coverage, medical, etc., etc., etc., depending on what other insurance you carry (no sense in paying for full redundant coverage if you have an employee medical that fills the bill, for instance...).

Shop, negotiate...

[87gsxrnut]

With a new sportbike, I would have it covered so that if it gets stolen, you can get your money back. Those things get ripped-off quite a bit.

My old GSX-Rs cost $225 per year for both. I just sent in the check yesterday.

- Nut