Motorcycle Insurance

[cnc]

Originally Posted by cmchiker

I pay $20.35 a month for my 2002 KW Meanstreak. My husband pays $20.60 for his 2003 Honda VTX 1800 (go figure). With bikes this old, it's hard to justify carrying collision, but we still carry it. It would be bad enough to wreck my bike and if I had to replace it completely with my own funds, that would be devastating. We're with American Family. We were previously with State Farm. State Farm had higher rates but would allow you to drop the coverage in the winter (when you weren't riding the bikes). You could "call in" and add a daily rider for any days that you wanted to ride the bike. But, here in CO, we have lots of good riding days throughout the year - so it wasn't really worth the trouble.

I agree on keeping up the collision. It does not take much these days to write off a bike with the high cost of mostly cosmetic parts, so it is comforting to know at least you will get something should you lay the bike down.
By the way, welcome to the forum.

[ringadingh]

I can attest to that.

[RISTON]

Just got quote from Progressive on new Nomad 1700; $906 with $500 deductible. Problem here in Georgia is uninsured motorist @$495. Question is do I really need it?

[cactusjack]

Originally Posted by RISTON

Just got quote from Progressive on new Nomad 1700; $906 with $500 deductible. Problem here in Georgia is uninsured motorist @$495. Question is do I really need it?

What are your chances of getting hit by an uninsured driver? Judging from the premium for that coverage, the odds are probably pretty good.

I know as many as 1 in 3 drivers in AZ is driving without insurance. I wouldn't go without it myself.

[RISTON]

Just got off telephone with AARP/Foremost:

$240 on new 2011 Nomad; Progressive $906!!!!!

Progressive claims uninsured motorist driving price??????

[cnc]

Originally Posted by RISTON

Just got off telephone with AARP/Foremost:

$240 on new 2011 Nomad; Progressive $906!!!!!

Progressive claims uninsured motorist driving price??????

What does that mean, you should pay extra to cover those who don't have insurance and make sure the company is not out of pocket???

[davidjmurphy]

I am insured with Primmum last year for full coverage on my 2011 nomad cost me $475.00. However the word on the street is there will be an increase this year.

[cactusjack]

Originally Posted by cnc

What does that mean, you should pay extra to cover those who don't have insurance and make sure the company is not out of pocket???

Uninsured motorist coverage, is what I think he means. I don't know if you have that up north o' the border? But yes, we have the privilege of paying extra $$ for uninsured and UNDERinsured motorist coverage because a segment of society either drives uninsured or with the required minimum liability coverage, which may be as low as $10,000 in some states. What a racket.

My son was signing up for car insurance and told me he was getting the state minimum. I told him if he knocked my bike over, that may not be enough to fix it and he'd get sued for the rest. He increased his coverage.

[cnc]

CJ , Things are done differently in Quebec. The government runs a portion of auto insurance. Everybody who has a valid drivers license and up to date vehicle license plates has the medical part of auto insurance automatically. It's built into the cost of plates, so in the case of an accident your medical Bills are covered. Get caught driving with invalid plates or drivers license and you car is impounded till you pay up.You are also required to have insurance from private insurance carriers for fire, theft and public liability. Your proof must be shown when you buy your vehicle, get caught without proof in the vehicle and you get a ticket, plus a letter from the Government asking for proof of insurance within x amount of days or your plates are suspended.
Also we have what is called no fault insurance. If you have an accident between vehicles your insurance pays for your damages to your vehicle and the other drivers insurance pays for his. Fault is still determined but only for the insurance companys to decide the cost of your premiums or in the case of death where criminal charges might be layed.
You can not sue anybody in Quebec over a automobile accident.
It's not perfect, but it does turn the tables a bit, drive uninsured and your the one who gets screwed, not the guy you hit.

[Monkeyman]

I ended up declining the un-/under-insured motorist coverage. The sales rep (hate to call them "agents" when it's someone on a phone) said, if I have medical insurance (from work) and comp/collision, it would all be taken care of anyway (minus my deductable, of course). Seems like I would basically be paying double (once through Progressive and again through work). I've been with Progressive for years but I think I may take a look at other insurance companies this summer.

[Loafer]

I have liabilaty on my 2001 Nomad, so let me understand your thinking...You have collision on your bike, so the insurance company will repair it?
My bike is worth trade-in value of $3335 and retail value of $4850.
If I should have an accident, there could be minimal or substantial damage, depending. The insurance company is going to make short work of it by totalling the bike and writing me a check for $3335.
How much more are you paying for the collision vs liability?
And would it be cost effective?
If the insurance company totals the bike and you buy it back, use the difference in money to repair the bike, you still have to pay the state to give you a salvage title (here in Vt). If you were to decide to sell the bike (and thats not likely for what I would get for it) you are going to get beat up because of the salvage title.
Some how it does not make sense to me to carry collision on such an old bike.
Tell me why I'm wrong in my thinking and maybe I'll add the collision back on.
Seriously....

[cactusjack]

Originally Posted by Loafer

I have liabilaty on my 2001 Nomad, so let me understand your thinking...You have collision on your bike, so the insurance company will repair it?
My bike is worth trade-in value of $3335 and retail value of $4850.
If I should have an accident, there could be minimal or substantial damage, depending. The insurance company is going to make short work of it by totalling the bike and writing me a check for $3335.
How much more are you paying for the collision vs liability?
And would it be cost effective?
If the insurance company totals the bike and you buy it back, use the difference in money to repair the bike, you still have to pay the state to give you a salvage title (here in Vt). If you were to decide to sell the bike (and thats not likely for what I would get for it) you are going to get beat up because of the salvage title.
Some how it does not make sense to me to carry collision on such an old bike.
Tell me why I'm wrong in my thinking and maybe I'll add the collision back on.
Seriously....

I wouldn't carry collision on an 11 year old bike, with a value of $3300. It wouldn't take much damage for the insurance company to total it.

In my case, when I crashed my 2007 Nomad last March, I had $9871 worth of damage, and my insurance company valued it at $10140 and they cut me a check for that amount -$500 deductible. I was glad I had collision coverage.

[cnc]

Originally Posted by Loafer

I have liabilaty on my 2001 Nomad, so let me understand your thinking...You have collision on your bike, so the insurance company will repair it?
My bike is worth trade-in value of $3335 and retail value of $4850.
If I should have an accident, there could be minimal or substantial damage, depending. The insurance company is going to make short work of it by totalling the bike and writing me a check for $3335.
How much more are you paying for the collision vs liability?
And would it be cost effective?
If the insurance company totals the bike and you buy it back, use the difference in money to repair the bike, you still have to pay the state to give you a salvage title (here in Vt). If you were to decide to sell the bike (and thats not likely for what I would get for it) you are going to get beat up because of the salvage title.
Some how it does not make sense to me to carry collision on such an old bike.
Tell me why I'm wrong in my thinking and maybe I'll add the collision back on.
Seriously....

Gerry who are you directing your question toward?

[cactusjack]

Originally Posted by cnc

CJ , Things are done differently in Quebec. The government runs a portion of auto insurance. Everybody who has a valid drivers license and up to date vehicle license plates has the medical part of auto insurance automatically. It's built into the cost of plates, so in the case of an accident your medical Bills are covered. Get caught driving with invalid plates or drivers license and you car is impounded till you pay up.You are also required to have insurance from private insurance carriers for fire, theft and public liability. Your proof must be shown when you buy your vehicle, get caught without proof in the vehicle and you get a ticket, plus a letter from the Government asking for proof of insurance within x amount of days or your plates are suspended.
Also we have what is called no fault insurance. If you have an accident between vehicles your insurance pays for your damages to your vehicle and the other drivers insurance pays for his. Fault is still determined but only for the insurance companys to decide the cost of your premiums or in the case of death where criminal charges might be layed.
You can not sue anybody in Quebec over a automobile accident.
It's not perfect, but it does turn the tables a bit, drive uninsured and your the one who gets screwed, not the guy you hit.

Yeah, I figured you do things differently up in Canada. Every state in the US requires at least a minimum amount of liability insurance, but it's difficult to enforce. Not sure what the most recent figures are, but I remember a few years back in AZ that as many as 1 out of 3 cars on the road was uninsured.

[cnc]

Originally Posted by cactusjack

Yeah, I figured you do things differently up in Canada. Every state in the US requires at least a minimum amount of liability insurance, but it's difficult to enforce. Not sure what the most recent figures are, but I remember a few years back in AZ that as many as 1 out of 3 cars on the road was uninsured.

It's just Quebec who do it this way, although some other provinces do have some sort of government auto insurance scheme as well.
It is not so easy to get away with not paying at least the medical portion as that is tided to your license plate renewal. There is apparently a device that automatically scans plates and feeds them into a central registry as police cars cruise around with no interaction needed by the officers unless it gets a hit (not paid or stolen). I saw the news last year that they were installing some around here. Exactly how many police cars are now equipped this way, I have no idea.