How much insurance to get?

[Leader1]

Aight, I know this topic has probably been ran into the ground on insurance. But, as a first time rider they are trying to charge me up the a$$ for a years full coverage. I already own a sports car and that isn't helping much with having to pay a G for that already. Plus, I am not trying to come out of the pocket $1500+ when I know I should be able to do better than that.
Thus, I am trying to see if maybe I should go with partial coverage. A friend of mine suggested I just go with liablilty and uninsured motorist coverage. Sounds like a good idea cause where I am getting killed is for the comp and collision. Any suggestions???? Thanks Oh yeah and by the way, State farm has the best rates, but they told me I'd have to insure my car with them and that's not happenin, too pricy!

 

[Liquid-R1]

Oh yeah and by the way, State farm has the best rates, but they told me I'd have to insure my car with them and that's not happenin, too pricy!

Interesting... I signed up w/ them for my motorcycle, but not my car... I even asked them if I'd get a better rate if I got both, and they told me that they couldn't do a multi-policy deal on it for the motorcycle... Car and Renter's insurance yes... But anything with the motorcycle was separate... Might want to check w/ another State Farm agent...

 

[Leader1]

Thanks, I'll give it a shot. What about the coverage amounts, full?

 

[Liquid-R1]

Umm... I dunno... It really depends... What condition is the bike in? If it's in good condition, and you want it to stay that way, you may want to consider full... Also, how much is it per year? How long before it costs more than the bikes value? If it's more than the bike, or will add up to more rather quickly, do w/o full... There are a lot of different factors to consider... Can't really tell what is the better choice...

 

[Baptistro]

as far as collision and comp, that depends on how concerned you are about keeping the bike in its current condition and whetehr, like liquid says, the benefits outweigh the cost, as far as your liability and underinsured coverage, you should set you r limits depending on the amount of exposure you are willing to subject yourself to in the event of an accident. If you are a homeowner, I would suggest getting a minimum of 100k/300k liability coverage, that way, most likely, you will have covered your ass and will not stand to lose your home, etc. etc.

 

[thebusby]

Collisions expensive comprehensive isn't so even if you get Liability get Comp. I just raise my deductable on Collision to $1000 and it Halves my rates.

 

[donoman]

I only have liability, uninsured, & theft...
so if I drop my bike, I'm screwed.

 

[cat_in_sf]

I only have liability, uninsured, & theft...
so if I drop my bike, I'm screwed.

Or if it gets stolen - a common thing in the Bay Area.

 

[951dude]

When I got my F4i, I decided to go with State Farm. They told me if I also insured my car with them, my bike insurance would be less. I have liability,uninsured motorist, and theft all for less then 500 a year. You have to have a really clean record though.

 

[Zen]

I had the minimum liability from Progressive, and it was only $250 or $350 (can't remember) a year. I had a clean record in California and my bike was an old F2, so it didn't make sense to spend $1000+ a year on insurance.

You should definitely get theft insurance though, as someone mentioned in an earlier post. This is something I learned the hard way.

The Progressive website allows you to play around with different coverage combinations and price them out.

 

[Leader1]

Cool, I appreciate the suggestions. I'll give a little more detail as to my situation, so I can get some more opinions, cause I definitely need to not become 1 of the people I'm trying to insure myself against (uninsured motorist). I'm 24, have had my license for less than a year, clean record except for 1 speeding ticket 2 yrs. ago. Have a 97 Honda CBR 600 in great condition.
I figure if I get into an accident I'll just have to chalk it up and pay for the damages or a new bike myself, but then I think well I can cover it for a year and I know my insurance will drop majorly next year since 1. I'll be 25 2. I'll have had 1 yr. experience riding 3. My ticket will have vanished. So I guess what it boils down to is A. I could go this 1st year w/ limited coverage and then step it up next year when I can get some more breaks. B. Just chalk it up w/ full coverage this year and wait til I get some relieif next year hopefully. Maybe I've solved my own question. But give me your suggestions anyways, I hope this thread may be of some help to some other riders too. Thanks