Insurance / worth of totaled bike

[Rollie]

I have the bargain basement....just what I need to insure the bike in NY....$77/yr for two bikes....policy from Progressive.

Had this type policy for many, many years....the difference in premiums has probably saved me enough for a low mileage '07 (if I had it all in a pile....which I don't!) :biglaugh:

Oh, I got a refund from Progressive for $1, so it's $76/yr. :eusa_dance:

Danny ,

Does that include U.M. coverage ?

 

[tugla]

did you go to progessive cause of the chick on the tv commercial riding a bike lol

 

[m-cman]

I have Progressive's standard policy with the accessory coverage. They took Yamaha's retail for OEM parts and either receipts or copies of any stores price of the item damaged. For example, my Nolan X-Lite helmet was no longer current but I found a website still listing them even though it was an old website no longer active. Printed that off and got the exact value on the site. Did the same for my boots and gloves. All protective gear is covered also. My chrome scoop was covered for the OEM amount plus Sean's cost of chroming (who I purchased from for less than the total I received).

All in all, I was very pleased with Progressive. The adjuster came to my house, photographed the damage, went on line with his laptop, got all the prices and issued a check with a printer in his vehicle. He said if anything showed up after teardown to give him a call for adjustments. That did happen and he came out and printed another check for the new items. I was paid for labor also but I did all the work myself. I had $999 deductible which the car driver's insurance paid for plus an extra $100 if I signed a release. Guess they didn't want me to sue. The car driver got two tickets, one for illegal turn and one for causing an accident. Didn't ever know there was one for causing an accident!

However, the coverage if the bike was totaled was not discussed.

 

[4gasem]

Progressive was the ONLY provider that would insure the max at my insurance agency.

I use Pekin for my SV. The SV is just as fast on paper as the vmax but it's classed as a Sport Touring bike so the same coverage is 160 bucks... WTF?

Chris

 

[dannymax]

Danny ,

Does that include U.M. coverage ?

Not sure Rollie, I'll check my breakdown sheet if I can find it. Once I get the new registration for the year I ignore the ins. paperwork, may have even thrown it away? :confused2:

did you go to progessive cause of the chick on the tv commercial riding a bike lol

No man, she irritates the **** out of me!! :rofl_200:

 

[[email protected]]

How many of you are paying for uninsured/underinsured coverage? I have that in my policy. It is supposed to cover you if you get hit by someone without insurance or with minimal insurance. My policy covers 250K/500K per accident.

In talking with my broker I can pay $75/year for the minimum.
About $200/year for full coverage
About $350/year for liability with uninsured/underinsured coverage
About $550/year for full coverage with uninsured/underinsured coverage and $4K in accessories

Anyone have any input on uninsured/underinsured coverage? Do you have it? How much are you paying for it? Do you think its really needed?

 

[gamorg02]

i'll get some data tomorrow from my broker as well.

 

[Rollie]

How many of you are paying for uninsured/underinsured coverage? I have that in my policy. It is supposed to cover you if you get hit by someone without insurance or with minimal insurance. My policy covers 250K/500K per accident.

In talking with my broker I can pay $75/year for the minimum.
About $200/year for full coverage
About $350/year for liability with uninsured/underinsured coverage
About $550/year for full coverage with uninsured/underinsured coverage and $4K in accessories

Anyone have any input on uninsured/underinsured coverage? Do you have it? How much are you paying for it? Do you think its really needed?

U.M. is definately needed .

 

[tugla]

Not sure Rollie, I'll check my breakdown sheet if I can find it. Once I get the new registration for the year I ignore the ins. paperwork, may have even thrown it away? :confused2:



No man, she irritates the **** out of me!! :rofl_200:

glad to hear ya say that, was about to get worried about you man ... hahah

 

[brian964]

In my experience it is cheaper getting quotes online. Some of the bigger companies offer discounts when ordering online, because it is less work for them. But to be safe you could compare quotes online, pick the best offer and try a local agency to see if they can match it or do better.

I recommend this site for online comparing: www.quotes-center.com

 

[85vmax]

With all this chatter here, you now got me wondering if I should carry insurance?:ummm:
In Florida you only need insurance if you make payments, or you don't wear a lid........they figure if you go down, the bike won't make it and neither will you.

Only time I really worry is when I have the wife on the back...but then we only go 140 instead of 160.

OOPS...I fergot this was the VMax site......then we only go 125 instead of 145:eusa_dance:

And yes we are carefull..........

 

[Rollie]

With all this chatter here, you now got me wondering if I should carry insurance?:ummm:
In Florida you only need insurance if you make payments, or you don't wear a lid........they figure if you go down, the bike won't make it and neither will you.

Only time I really worry is when I have the wife on the back...but then we only go 140 instead of 160.

OOPS...I fergot this was the VMax site......then we only go 125 instead of 145:eusa_dance:

And yes we are carefull..........

Yes you should. It doesn't how careful you are , cagers aren't and some aren't insured . Both of you go down through no fault of your own , driver keeps going. You and your best friend are in the hospital. Who pays the bills ? Lost wages ? PPD ( Permanent Partial Disability ) ? U.M. & Liability at a minimum .
unk:

 

[gamorg02]

here's what i have:

bodily injur to others 20k/40k
personal injury $8k
Bodily injury caused bu uninsured auto 100k/300k
damage to other property - 100k
collision - $500 deduct
comprehensive - $300 deduct
bodily injury caused by underinsured auto 100k/300k

$401 a yr.


for comparison thru progressive:
bodily injury - 250/500
comp bodily injury - 20/40
property - 100k
uninsured - 250/500
underinsured 250/500
personal injury 8k/0 deduct
0 medical (since i have high under/un insured and good health coverage)
$300 collision/comp
$5k accessories

$329. i think i'm changing!

 

[gamorg02]

so those rates didn't have my speeding ticket from '09 in them, but i ended up going with progressive and got $7k of accessory coverage. also:

bodily injury - 250/500
comp bodily injury - 20/40
property - 100k
uninsured - 50/100
underinsured 50/100
personal injury 8k/0 deduct
0 medical (since i have high under/un insured and good health coverage)
$1000 collision/ $300 comp deductables

that was $350 a yr. i'm happy.

 

[[email protected]]

Just got a new quote from American Modern Insurance Group. Never heard of them. Anyone familiar?

Here is the quote:
Bodily Injury 250/500K
Property Damage 5K
Passenger Liability 250/500K
Personal Injury 5K
Uninsured 250/500K
Underinsured 250/500K
3.5K in accessories

$344.00
Duductible is HIGH @ $1K

My broker keeps telling me that since I have a young family I should have a good bit of un/under insured coverage just in case.

 

[gamorg02]

deductible is high, but on a $8 or $9 k bike is it really that high? i dunno i'm trying to cover mine for $12 and if i only got $11 i'd be happy.

but for the non-total loss i'm not sure how i'd feel.

 

[[email protected]]

I noticed my premium for accessories was really cheap so I asked for a new quote with 5K in accessories

 

[Bill Kratzenberg]

I had american modern for just liability at $75 per year.
I was thinking if i go down or something happens, i'm pretty much screwed so
I just opened a new policy with allstate:

bodily inj 15/30
property damage 10k
uninsured bodily 15/30
underinsured motorist 15/30
med expenses 5k
pedestrian 5k
$ 500 deductable
optional equipment $10,000

$374.70 per year

Thats not bad huh? and now im covered for an extra 10k in accesories plus the value of the bike if its totaled

 

[gamorg02]

the mod monkey strikes in mysterious ways huh bill? i think u made a really good decision.


now i switched to progressive, does anyone have an claims stories with any companies, good or bad?

 

[WOLFIE]

my agent state farm said get my bike appraised and bring it to him with pictures of the bike and then i am good

wolfie