Do I need this much coverage?

[JStump]

I just switched to riders insurance and was looking over my coverage and thinking to myself, I may not actually need all the coverage I think I do. I just get paranoid thinking if something happens I want to be covered but is this too much for a motorcycle?

[cmh_sprint]

Wow, you seem to be getting raped. My coverage levels are set to 5x yours and my rate is $260 cheaper. Bad driving record?

[SJC1000rr]

Short answer, yes. I wouldn't go any lower then that fore sure. Driving record, age and bike type play a part in it all. But $600 for a reasonable safety net doesn't seem that bad to me for a 12 month policy.

[motociclista]

Thank goodness! Before I clicked on this thread I thought you might be talking about chaps.

But seriously, my levels are a lot higher. $50,000 sounds like a lot of money until one time you run a red light and a guy in a $100,000 Mercedes swerves into a bus full of kindergarten kids to avoid you, totalling the car and putting four people in the hospital. Suddenly your insurance isn't enough to cover the gauze and sutures in the surgery.

Wow, you seem to be getting raped. My coverage levels are set to 5x yours and my rate is $260 cheaper. Bad driving record?

Sadly, I can confirm that a Daytona 675 is not a cheap bike to insure.

[RSparky]

Heh. Same here. I've only ridden mine twice yet! I pay 60/mo, or 720/yr for 50/25 + uninsured and that jazz. But I'm 23 with a shitty record.

[2talltim]

your limits are higher than mine, isurance is a scam anyways:

Coverages* Limits and/or Deductibles Vehicle #1 Vehicle #2 Vehicle #3

Bodily Injury Liability

Each Person/Each Occurrence $12,500/$25,000 #1$7.00 #2$9.00 #3$17.00

Property Damage Liability $7,500 #1$5.00 #2$7.00 #3$12.00

Uninsured Motorists Bodily Injury

Each Person/Each Occurrence Insured Rejects - - -

Underinsured Motorist

Each Person/Each Occurrence Insured Rejects - - -

Comprehensive $250 Ded

#1$21.00 #2$10.00 #3$23.00

-

Collision $500 Ded - #2$54.00 #3$118.00

Twelve Month Premium Per Vehicle #1$33.00 #2$80.00 #3$170.00

Total Twelve Month Premium $283.00

Edited March 14, 2013 by 2talltim

[JStump]

Well I am 23 and had 1 speeding ticket on the bike 2 years ago. All other tickets were 3+ years ago. This isn't even bad, Geico wanted $1085 for the year with same coverages.

Random tid bit of information: Did you know Riders Ins does not consider the 675 to be a sport bike? Go figure

Edited March 14, 2013 by JStump

[Bitani]

I'm switching to Rider's Insurance before I start hard riding this season, and I'm looking at about $1,200/year. It's around double that at Progressive.

Still happy!

[r1crusher]

Shit, $50k/$100k is low if you ask me but hey you can only pay for what you can afford.

I insure nothing for less than $100k/$300k. Good luck if anything unfortunate would happen and someone got hurt really bad...$50k will go damn quick.

[DAC]

Shit, $50k/$100k is low if you ask me but hey you can only pay for what you can afford.

I insure nothing for less than $100k/$300k. Good luck if anything unfortunate would happen and someone got hurt really bad...$50k will go damn quick.

The right answer. You're riding a machine that can hurt people and damage their property. Be accountable.

[Revelstoker]

Shit, $50k/$100k is low if you ask me but hey you can only pay for what you can afford.

I insure nothing for less than $100k/$300k. Good luck if anything unfortunate would happen and someone got hurt really bad...$50k will go damn quick.

What he said. I carry $100/300k as well. most of the issue is your age and type of bike. Guys get their first insurance break at 25 and the next one at 30 or maybe it is married.

[Kmanlyst]

What he said. I carry $100/300k as well. most of the issue is your age and type of bike. Guys get their first insurance break at 25 and the next one at 30 or maybe it is married.

Married, 30 and being a veteran gets you a nice discount plus a clean driving record.

[scottie.harris]

For some reason when i got married my bike insurance went up a couple bucks, increased suicide rate?

[CharlieG]

For a 23 year old male with a 675cc sportbike, that seems about right actually. Honestly, your coverage numbers look kinda low. As others have mentioned, I'm carrying 100/300.

-Charlie

[Bitani]

For some reason when i got married my bike insurance went up a couple bucks, increased suicide rate?

[conn-e-rot]

You're coverage is rather low but you need to buy what you can afford. If you own a house then coverage is way too low.

I would check around and get different quotes though

[conn-e-rot]

Also you can probably lower your comprehensive deductible and only have small rate increase. I went from $500 to $100 for $23 a year

[JStump]

Well damn, I better get a quote for 100/300. Tim, how do you only have 12/25 with $7000 property damage? That sounds crazy in comparison. Hell, my nothing special Mazda 3 costs more than that if its totalled, let alone a Mercedes or something.

Damn, just looked at my car insurance and it has the same amounts on it :/ looks like I'm calling geico too.

Edited March 17, 2013 by JStump

[GuardRail-Mike]

Heh. Same here. I've only ridden mine twice yet! I pay 60/mo, or 720/yr for 50/25 + uninsured and that jazz. But I'm 23 with a shitty record.

Man i must really want to ride because i would love to be paying that.... Not going to mention my numbers

[motozachl]

Good gawd ya'll pay a ton for insurance. Granted been riding over a decade with the same ins company but still only pay $90 a year for the r6

[thedak]

I insure nothing for less than $100k/$300k. Good luck if anything unfortunate would happen and someone got hurt really bad...$50k will go damn quick.

Same here...

[John]

we can't say how much coverage you need... how much coverage you need is simply a function of what assets you have to protect.

if you make 20K per year, rent an apartment, and the only things you own are your crappy 15 year old bike and a similarly crappy 15 year old car, you only have 1000 bucks in your checking account and no investements, then you aren't going to need as high of a liability limit as someone who makes 150K per year, owns a 300K house and has 90K in mutual funds.

[oldschoolsdime92]

Maybe I just need to look at things. I've just always ran liability only on my old scooter...