cowbean
New member
is it worth $1300 / yr? this is separate from liability coverage, which is required by law. i'm getting uninsured motorist, theft, and liability coverage, all for less than collision alone. whaddy'all think?
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collision insurance necessary?
- Thread starter cowbean
- Start date
- Joined
- Apr 5, 2002
- Location
- San Jose, bottom of dirty 130
- Moto(s)
- ‘18 Alta EX006, ‘17 Alta MX019, 06R6, 05TM530, 01TM250 2T, ‘24 Yam Tenere 700, Lightning Spark
- Name
- Butch
- BARF perks
- AMA #: 1093637
IMO, collision is necessary of you can't afford to self insure; ie take the risk that you will spend more on premiums than pay out in fixing your mistakes. If you pay attention, are reasonably skilled and don't crash, this is a no brainer. Don't make mistakes.
Course, if you already have a bike that you can't afford and/ or it is financed, you have to have insurance.
And if you live in an area where people are going to crash you, or the bike risks being stolen, being ripped off for insurance might not be a bad idea. Insurance companies are in it to make $$$. They do it well off motorcyclists. Don't help them if you don't have too...
Course, if you already have a bike that you can't afford and/ or it is financed, you have to have insurance.
And if you live in an area where people are going to crash you, or the bike risks being stolen, being ripped off for insurance might not be a bad idea. Insurance companies are in it to make $$$. They do it well off motorcyclists. Don't help them if you don't have too...
Leader1
New member
for that price???? I'd hold off and pray that you don't get into any accidents later. Then purchase it when your premium goes down. It sucks to think of the $ that can be saved, if you don't have to use it. I feel like liability, comp, and uninsured motorist coverages are the big 3.
I have collision insurance because when we ride on the weekends, we can't guarantee that nothing will happen. My insurance costs me about 2000$ per year on my RC. I self-insure (no coll) my VFR because I don't push her that hard.
The RC is a different story, she will cost a LOT if I drop her. So I can stand this insurance for a year until my premium goes down.
The RC is a different story, she will cost a LOT if I drop her. So I can stand this insurance for a year until my premium goes down.
luisimo
Active member
I came accross that dilema a while back...
Lets say that you have a 8,000 motorycle and it will cost you 2,000 to insure it with a 500.00 deductible. The bike will pay it self in four years!
If you go down lets say that the damage will be 2,500 (just an average) you pay 500, insurance pays the other 2,000 but now as you have an additional accident on your record so your insurance goes up to probably 3,000 (50% increase because of higher risk) Did the insurance really help you?
If you do the numbers and you put away the money that you are saving you can justify getting only liability and theft but I will not go with out theft coverage.
Lets say that you have a 8,000 motorycle and it will cost you 2,000 to insure it with a 500.00 deductible. The bike will pay it self in four years!
If you go down lets say that the damage will be 2,500 (just an average) you pay 500, insurance pays the other 2,000 but now as you have an additional accident on your record so your insurance goes up to probably 3,000 (50% increase because of higher risk) Did the insurance really help you?
If you do the numbers and you put away the money that you are saving you can justify getting only liability and theft but I will not go with out theft coverage.
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You're right. My situation is different.
Full coverage will cost me 600$ next year when I turn 25 (says my StateFarm agent). For this first year, I'll lose lots of money due to this but I think it's worth it.
Oh, and the insurance isn't there in case I have a 2500$ drop, it's there in case I wad the motorcycle.
Full coverage will cost me 600$ next year when I turn 25 (says my StateFarm agent). For this first year, I'll lose lots of money due to this but I think it's worth it.
Oh, and the insurance isn't there in case I have a 2500$ drop, it's there in case I wad the motorcycle.
morthrane
Help I'* being Oppressed!
donoman said:
Amen. Collision should really be called "You fucked up bad and wadded the bike beyond economic repair"
theSteveCo
Founder
The worst part is when you have full coverage and do minimal damage to the bike. I had to pay $1500 to fix my Kawi after jacking it up. I had collision but opted not to use it. The cost of making the claim, over time, would have been greater than the cost to just fix it.
No wonder the insurance companies are so rich!!
No wonder the insurance companies are so rich!!
slowpoke
Well-known member
- Joined
- Jun 25, 2002
- Location
- IN A TRAILER DOWN BY THE RIVER!...
- Moto(s)
- Crash into trees...
- Name
- Asian Dan
- BARF perks
- AMA #: 1102172
No matter how good you are or how good you think you are...SHIT HAPPENS. Sure you may bitch at the end of the year and you realized you paid $1300 for the year and you didn't claim on the insurance, but once something happens (know on wood) you'll be glad you paid the price you did.