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Author Topic: Insurance  (Read 666 times)

Blue Ridge Wheeltor

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Insurance
« on: October 09, 2009, 12:27:49 AM »
I got my MC insurance renewal this week. The policy renews Nov. 1st.
Struggling with the economy like most people, I am considering some changes.
The weather has been terrible this spring, summer and fall. While there may be some bearable days this winter, generally most will not be.
So I am looking at taking the enfield off Nov. 1, and keep the Ural on. This will save me about $100.
Now the Ural is about $230 for 12 months. Full coverage.
Do you run full coverage? If I eliminate fire/theft/collision I save almost $100. ($500 deductable), and almost $126 on the Enfield.
So, how many of you carry full coverage, and how many carry just liability, and why?
REA #25
2008 Royal Enfield Deluxe (Blue)
2006 Ural Patrol
1978 BMW R 100s--SOLD--
1977 HD XLCR
1971 Triumph Bonneville

REpozer

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Re: Insurance
« Reply #1 on: October 09, 2009, 12:46:22 AM »
I carry minimum on the RE. Figure I can repair ,if needed.
2008 AVL Classic Bullet in British Racing Green
REA # 84 ( the first time)

Vince

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Re: Insurance
« Reply #2 on: October 09, 2009, 12:47:38 AM »
     Insurance is managed risk. You can save $100/year by dropping collision/comprehensive. If your bike is worth $3,000 and you total it you are out $2,900($3,000 - $100 saved) if you don't have insurance. With insurance you are out $600 ($100 cost + $500 deductible). If you can tell me if you are going to crash I can tell you whether or not to carry insurance.
     I don't carry this insurance on my bike only because the value of a 37 year old bike is not enough to justify the cost. Plus I have an ego thiiiiiiisssssss big and I know I will NEVER crash.
     You have to make your own assessment.

Cabo Cruz

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Re: Insurance
« Reply #3 on: October 09, 2009, 12:49:39 AM »
Br. Blue, in my case, it's full coverage for $150. a year.  Graciela and I have all of our policies with Nationwide Insurance Co.  This fact -- along with age, clean record, good looks, etc. -- helps keep the yearly MC premium down.
Long live the Bullets and those who ride them!

Keep the shiny side up, the boots on the pegs and best REgards,

Papa Juan

REA:    Member No. 119
BIKE:   2004 Royal Enfield Sixty-5
NAME: Perla

Geirskogul

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Re: Insurance
« Reply #4 on: October 09, 2009, 10:02:04 AM »
If I'm riding, I take out insurance, at the very least liability, to help anyone I may crash into.  Because I know, if I don't end up crashing into anybody, they will inevitably crash into me, and it will be blamed on me because I am on a motorcycle.  In that event, I want liability to be able to pay for the damages to their cage so I won't have to out of pocket.

There's a reason insurance is required by law, and GOD HELP ME if you end up hitting me and you don't have insurance, because I will make you wish you had.  Anyone riding about without insurance is a twat.
All hail Sir Lucas, Prince of Darkness.

When an idiot thinks it's the same as not thinking at all!

The Garbone

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Re: Insurance
« Reply #5 on: October 09, 2009, 10:48:55 AM »
I have policies on 3 cars and a house... They can bite me if they want more of my money,  if I total my RE I feel that replacing the bike will be the least of my worries.  Only cages are required to have insurance here in FL and I have good health insurance (for now). 
Gary
57' RE Crusader 250
67' Ford Mustang
74' Catalina 27 "Knot a Clew"
95 RE Ace Clubman 535
01 HD 1200 Custom
07 RE 5spd HaCK

* all actions described in this post are fictional *

1Blackwolf1

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Re: Insurance
« Reply #6 on: October 09, 2009, 10:50:59 AM »
Br. Blue,.  This fact -- along with age, clean record, good looks, etc. -- helps keep the yearly MC premium down.


  So you're saying this is why I get charged extra?  Will.
Will Morrison
2007 500 Military
2000 Kawasaki Drifter 1500
2000 Victory V92SC
1976 Suzuki GT185 Rebuilder Special..AKA (Junkyard Dog)
Many, many other toys.
The garage is full.

Alaroyal

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Re: Insurance
« Reply #7 on: October 09, 2009, 12:29:48 PM »
Full coverage, liability is state requirement, collison because the bike is financed and it's required by lender.
Dave

"The reason most people don't recognize opportunity when it knocks, is because opportunity almost wears work clothes."

Kruiser

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Re: Insurance
« Reply #8 on: October 09, 2009, 01:04:18 PM »
I carry full coverage just in case it gets stolen.   To me it's worth the piece of mind.

Cabo Cruz

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Re: Insurance
« Reply #9 on: October 09, 2009, 01:32:41 PM »
So you're saying this is why I get charged extra?  Will.

:D :D :D
Long live the Bullets and those who ride them!

Keep the shiny side up, the boots on the pegs and best REgards,

Papa Juan

REA:    Member No. 119
BIKE:   2004 Royal Enfield Sixty-5
NAME: Perla

ace.cafe

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Re: Insurance
« Reply #10 on: October 09, 2009, 02:37:21 PM »
I have always done the MINIMUM that the state requires for insurance on my bikes.

All my bikes have been purchased without loans, so I don't have any requirements for full coverage from that.
Home of the ACE Fireball 535 Bullet,  Ace GP Hi-Lift Roller Rocker Head Conversion. Pistons, cams, etc. Highest performance Bullet engine mods available anywhere.  AVL mods available. UCE kit coming.

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single

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Re: Insurance
« Reply #11 on: October 09, 2009, 03:49:32 PM »
Maybe it ought to depend on your traffic situation.I have little to no real traffic out here in the void,so I only have the state requirements.I,too,rely on my own aledged abilities to repair event results.That is a factor.Deer are my main concern,I dodge that one by riding when "they" usually are not moving arround much.You don't wanna be out there when the bars close,either.Lots and lots of single vehicle wrecks here in the early am,as well as 2 car.Hard to believe 2 of em find each other.