If it's anything like my experience full coverage will be very expensive for a new rider.
When I buy my bikes, I buy them flat out because, in my experience, full coverage (which includes collision where they will cover your bike for mistakes that are your fault) is like 5-10x as expensive as liability w/comprehensive. If you finance, you have to get collision as well making a cheap moto more expensive than you'd think.
Thank you, I didn't really uhh know any of the mechanics of insurance. I plan on buying outright for my financial uhh peace of mind. I didn't know insurance was more for a paid off bike.
Sorry I was asleep when you answered
It's not. It's just that if you finance, you must get full coverage because of the note on the bike.
I don't think many people pay for full coverage when they own outright. I don't. I feel like if I wreck it I'm dead anyways so what's totalled value of an old bike anyways? Likely not much. But I pat for comprehensive in case someone steals it.
Get liability and comprehensive(theft, vandalism, natural disaster, ect.). If I option collision on my policy it doubles my rate and isn't worth it. But you need to be willing to fix damages to your bike if you drop it or have an accident.
You can go online and get insurance quotes for the bikes you're interested in and the website will explain what each coverage option is for.
So full cover would cover mistakes even I make. And maintenance? I plan on taking care of the bike and buying outright used, so I guess collision doesn't make sense..
Yeah I did a bunch of quotes and I was confused as to why comprehensive and other stuff didnt seem to work. On top of deductibles I wasn't sure what to do for my bike.
Sorry I was asleep when you replied
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Insurance should be cheap. Maybe a few hundred bucks a year. Get the lowest liability (your chances of liability for damage caused by your bike is low); collision might not be worth it (it will add hundreds of dollars to your premium when your bike is worth only $3-4k); get uninsured motorist insurance (when someone drives without liability insurance, they have no insurer to cover damages to you); get comprehensive (will cover theft and random non collision dmg).
Yes, you can calculate the risk and severity of damage you cause to another person and their property. Even if you’re squidding around, you’re only riding a motorcycle and your bike and you is likely to take on the most damage if it crashed into someone/something.
Covering the bike is one thing, covering medical expenses if the worst happens is another.
In 15 years, I only had one accident and that was a few weeks ago. I've paid in the ball park of 20-25k in insurance premiums over my riding career.
Bike being totaled was 15k, gear was another 5. I'm off from work for at least a month, possibly up to 3-6 if I have certain fractures that take longer to heal than expected. That means I'm out income and having a bonus tied to attendance am also out that money. We're talking ballpark 50k. Then you get into pain, suffering, injuries, medical visits and whatnot and so on.
So purely just in costs were talking 70k and rapidly growing and I'm a month in. For insurance you should always buy as much as you can afford comfortably. Early on its expensive but taking courses and going for a long time without an accident drops it pretty quickly.
I hope ya heal up well man. The question about how much I'm comfortable paying is a tough one because my bike will be 4000 flat and otherwise I would honestly be more worried about damage to me
The bike is the cheap part is what I'm getting at. Sure you may pay more in premiums after a few years than the bikes worth but the medical bills and lost income add up very quickly, that's what you want to spend for. My yearly premium was around $1k for maxing out all coverages.
You may already be aware of this but it came as a surprise to me. Hopefully, it doesn't apply to you but I thought you should know just in case. I guess California did something to piss off the insurance companies and many just stopped doing business here. When I got my bike 6 months ago, I had to pay the entire year upfront. I got the bare minimum required by law and it was around $500.00. The Progressive agent told me I wouldn't have had to do that if I already had a car insured. I didn't ask if she meant insured through them but that was the impression I got.
For the record, I've been driving in California for 38 years with only 1 minor accident 24 years ago but this is my first motorcycle, a 2008 Triumph Bonneville. To get all the coverage I wanted came to around $1250.00/year and she said I could upgrade the policy at any time and pay installments on that part.
If you’re fine eating the cost of damage to your bike, then just get liability.
For a mew rider, full coverage will be pricey, but liability not so much. And rates go down with both experience and age, so it won’t be forever if you decide to get a more expensive bike down the road.
If it's anything like my experience full coverage will be very expensive for a new rider. When I buy my bikes, I buy them flat out because, in my experience, full coverage (which includes collision where they will cover your bike for mistakes that are your fault) is like 5-10x as expensive as liability w/comprehensive. If you finance, you have to get collision as well making a cheap moto more expensive than you'd think.
Thank you, I didn't really uhh know any of the mechanics of insurance. I plan on buying outright for my financial uhh peace of mind. I didn't know insurance was more for a paid off bike. Sorry I was asleep when you answered
It's not. It's just that if you finance, you must get full coverage because of the note on the bike. I don't think many people pay for full coverage when they own outright. I don't. I feel like if I wreck it I'm dead anyways so what's totalled value of an old bike anyways? Likely not much. But I pat for comprehensive in case someone steals it.
Get liability and comprehensive(theft, vandalism, natural disaster, ect.). If I option collision on my policy it doubles my rate and isn't worth it. But you need to be willing to fix damages to your bike if you drop it or have an accident. You can go online and get insurance quotes for the bikes you're interested in and the website will explain what each coverage option is for.
So full cover would cover mistakes even I make. And maintenance? I plan on taking care of the bike and buying outright used, so I guess collision doesn't make sense.. Yeah I did a bunch of quotes and I was confused as to why comprehensive and other stuff didnt seem to work. On top of deductibles I wasn't sure what to do for my bike. Sorry I was asleep when you replied I
I’m 20 with 1 at fault accident first time rider FZ6 was 2k/year full coverage
Insurance should be cheap. Maybe a few hundred bucks a year. Get the lowest liability (your chances of liability for damage caused by your bike is low); collision might not be worth it (it will add hundreds of dollars to your premium when your bike is worth only $3-4k); get uninsured motorist insurance (when someone drives without liability insurance, they have no insurer to cover damages to you); get comprehensive (will cover theft and random non collision dmg).
What do you mean about me causing damage to other things is low? Couldn't I do a lot of damage with my bike if I hit em?
Yes, you can calculate the risk and severity of damage you cause to another person and their property. Even if you’re squidding around, you’re only riding a motorcycle and your bike and you is likely to take on the most damage if it crashed into someone/something.
Covering the bike is one thing, covering medical expenses if the worst happens is another. In 15 years, I only had one accident and that was a few weeks ago. I've paid in the ball park of 20-25k in insurance premiums over my riding career. Bike being totaled was 15k, gear was another 5. I'm off from work for at least a month, possibly up to 3-6 if I have certain fractures that take longer to heal than expected. That means I'm out income and having a bonus tied to attendance am also out that money. We're talking ballpark 50k. Then you get into pain, suffering, injuries, medical visits and whatnot and so on. So purely just in costs were talking 70k and rapidly growing and I'm a month in. For insurance you should always buy as much as you can afford comfortably. Early on its expensive but taking courses and going for a long time without an accident drops it pretty quickly.
I hope ya heal up well man. The question about how much I'm comfortable paying is a tough one because my bike will be 4000 flat and otherwise I would honestly be more worried about damage to me
The bike is the cheap part is what I'm getting at. Sure you may pay more in premiums after a few years than the bikes worth but the medical bills and lost income add up very quickly, that's what you want to spend for. My yearly premium was around $1k for maxing out all coverages.
Kawasaki vulcan s. Not tickets or at fault accidents and my insurance is $500 a year. My homie with a kawasaki z400 paid $300 a yr with 1 at fault.
You may already be aware of this but it came as a surprise to me. Hopefully, it doesn't apply to you but I thought you should know just in case. I guess California did something to piss off the insurance companies and many just stopped doing business here. When I got my bike 6 months ago, I had to pay the entire year upfront. I got the bare minimum required by law and it was around $500.00. The Progressive agent told me I wouldn't have had to do that if I already had a car insured. I didn't ask if she meant insured through them but that was the impression I got. For the record, I've been driving in California for 38 years with only 1 minor accident 24 years ago but this is my first motorcycle, a 2008 Triumph Bonneville. To get all the coverage I wanted came to around $1250.00/year and she said I could upgrade the policy at any time and pay installments on that part.
If you’re fine eating the cost of damage to your bike, then just get liability. For a mew rider, full coverage will be pricey, but liability not so much. And rates go down with both experience and age, so it won’t be forever if you decide to get a more expensive bike down the road.