Motorcycle Insurance

[Loafer]

Originally Posted by cnc

Gerry who are you directing your question toward?

Oops...I didn't realize I was in the Canada East board.
I didn't direct the question to anyone particular.
I cancelled my collision a couple of years ago, I didn't feel it would make that big of a difference with it becoming an older bike. Most of the bikes I have owned over the years I had paid 2-3K$ cash for. So if my bike needs to be repaired, I'll figure a way to do it. I've always assumed that I wouldn't be at fault for an accident (?). So the other guy will have to pay.

[ringadingh]

Gerry; Thats what I always thought would happen as well, I never for a second figured Id come off the bike like i did. Thats where the collision insurance would have been helpful. Now I have to fix the bike on my own nickle. I think when I get back on the road I'll make sure the bike has all the insurance on it.

[Loafer]

Well, I have been thinking about what happened to you since I posted. I'll call my carrier and find out what their policy will do for me. I'm guessing they would total it out and be done with it. And not for much money.
How much money has it cost you so far to put it back together, and how much more will you have to spend? Just a guess is fine.

[cnc]

Originally Posted by Loafer

Oops...I didn't realize I was in the Canada East board.
I didn't direct the question to anyone particular.
I cancelled my collision a couple of years ago, I didn't feel it would make that big of a difference with it becoming an older bike. Most of the bikes I have owned over the years I had paid 2-3K$ cash for. So if my bike needs to be repaired, I'll figure a way to do it. I've always assumed that I wouldn't be at fault for an accident (?). So the other guy will have to pay.

I just thought the way you worded your post it was to someone in particular. I guess not only do you have to do the math, but the money you may save by having no collision needs to be put aside, otherwise you end up empty handed if you wreck your bike.

[amypearson]

Since collision coverage is usually limited to the cash value of your motorcycle, one way to lower your insurance premium is to limit or drop collision coverage on an older bike.



If you’re still financing your motorcycle, you will be required by your bank to continue to protect their investment with collision and comprehensive coverages.


And remember – if you drop collision coverage, you are responsible for the full cost of repairs or replacement. So balance the option of lower motorcycle insurance premiums with your ability to pay out-of-pocket for uncovered expenses.

[Loafer]

Originally Posted by amypearson

Since collision coverage is usually limited to the cash value of your motorcycle, one way to lower your insurance premium is to limit or drop collision coverage on an older bike.



If you’re still financing your motorcycle, you will be required by your bank to continue to protect their investment with collision and comprehensive coverages.


And remember – if you drop collision coverage, you are responsible for the full cost of repairs or replacement. So balance the option of lower motorcycle insurance premiums with your ability to pay out-of-pocket for uncovered expenses.

Welcome to the forum!

Thanks for the info...

[ringadingh]

Originally Posted by amypearson

Since collision coverage is usually limited to the cash value of your motorcycle, one way to lower your insurance premium is to limit or drop collision coverage on an older bike.



If you’re still financing your motorcycle, you will be required by your bank to continue to protect their investment with collision and comprehensive coverages.


And remember – if you drop collision coverage, you are responsible for the full cost of repairs or replacement. So balance the option of lower motorcycle insurance premiums with your ability to pay out-of-pocket for uncovered expenses.

I dropped my collision coverage last season and then had an accident. I now wish Id kept the coverage as Ive spent a lot more on parts, than I saved on the premium. A good lesson learned.

[ringadingh]

And Welcome aboard Amypearson, from Ontario.
You should introduce youself on the new member board, and tell us a bit about yourself.

[ballast]

Originally Posted by ringadingh

And Welcome aboard Amypearson, from Ontario.
You should introduce youself on the new member board, and tell us a bit about yourself.

I think she's just trying to sell insurance if you follow the link at the bottom of her post.

[ringadingh]

You may be right Ballast. I should see how competitive her quote will be.

[bobzinger]

I have 4 quotes all with the same coverage...who to use?
CSAA/AAA (thru American family Home) $511 yr
Geico: $360.80 yr
Progressive: $316
AARP (thru Foremost) $266.80

With CSAA everything I have is insured (home too) and I have AAA Road service. With one phone call they handle everything. I've been with them since 1986. Their motorcycle insurance is thru AFM though.

Saving money is always a plus.

[ringadingh]

Id save the money personally, its almost half of the CSAA quote.

[Blueraven]

It is US based!

[bogatyrs]

Originally Posted by cactusjack

Well, your insurance may be expensive in Canada - but your country is crime-free and you don't have to carry guns!

You are right, I sold my 38 Special when I moved back to Canada from Detroit. But we are still getting raped on bike insurance as it is basically controlled by two companies and we have a Socialist based government - that favours big business which I know is a contradiction in terms...