AWW$HEEET Posted December 14, 2009 Report Share Posted December 14, 2009 So I email my insurance agent to drop coverage on the bike today, and he says "well, i can drop the comprehensive, and leave theft and fire damage on it, but it wouldnt be good to un-insure the bike totally". So I told him to just take it off, I dont really care. He says that if I drop insurance completely, he wont be able to write me a policy for Progressive in the spring because they wont re-insure the bike. Is this some BS sales tactic, or will the legitimately not insure me come spring time if I drop insurance now? Quote Link to comment Share on other sites More sharing options...
schmuckingham Posted December 14, 2009 Report Share Posted December 14, 2009 totally normal Quote Link to comment Share on other sites More sharing options...
KillJoy Posted December 14, 2009 Report Share Posted December 14, 2009 No clue if it is normal or not. I take my bike down to Fire and Theft on Oct 14 and back to full coverage on April 14. I have done this since I got my first bike MANY years ago. My Agent even lets me do this while having a Loan on the bike However, if I ride it and something happens.. I am fucked. KillJoy Quote Link to comment Share on other sites More sharing options...
AWW$HEEET Posted December 14, 2009 Author Report Share Posted December 14, 2009 Ive still got a loan out on it, but I dont really care if I have full coverage or not. Quote Link to comment Share on other sites More sharing options...
Bam Posted December 14, 2009 Report Share Posted December 14, 2009 completely normal, at least the 3 bikes I had insured through progressive. sucks, but part of life i found Quote Link to comment Share on other sites More sharing options...
nurkvinny Posted December 14, 2009 Report Share Posted December 14, 2009 My Progressive bike policy does not have a "lay up" period like a lot of bike policies. It's like $100 for the entire 12 months. You can try a "I sold it to a friend and then bought it back in the Spring", but how much are you really saving? Quote Link to comment Share on other sites More sharing options...
nurkvinny Posted December 14, 2009 Report Share Posted December 14, 2009 Ive still got a loan out on it, but I dont really care if I have full coverage or not. Ha, just read this part. Your bank cares. Quote Link to comment Share on other sites More sharing options...
wnaplay1647545503 Posted December 14, 2009 Report Share Posted December 14, 2009 My Progressive bike policy does not have a "lay up" period like a lot of bike policies. It's like $100 for the entire 12 months. You can try a "I sold it to a friend and then bought it back in the Spring", but how much are you really saving? My policy was the same way. When asked, they stated there could be a warm day in january if I wanted to ride. I said no thanks and cancelled it. Just restarted it back up in april with a cheaper rate. Quote Link to comment Share on other sites More sharing options...
AWW$HEEET Posted December 14, 2009 Author Report Share Posted December 14, 2009 Ha, just read this part. Your bank cares. Yamaha Financial (HSBC) does not care on bikes less than 5k (if I recall correctly). Plus, If shit hit the fan and I somehow managed to total a dualsport, I would just pay the balance off in cash. Quote Link to comment Share on other sites More sharing options...
nurkvinny Posted December 14, 2009 Report Share Posted December 14, 2009 Yamaha Financial (HSBC) does not care on bikes less than 5k (if I recall correctly). Plus, If shit hit the fan and I somehow managed to total a dualsport, I would just pay the balance off in cash. Interesting. First I have ever heard of not needing full coverage. Most banks impose full coverage (minus liability) insurance when people fail to maintain their own full coverage policies. Quote Link to comment Share on other sites More sharing options...
Bam Posted December 14, 2009 Report Share Posted December 14, 2009 Its because the motorcycle financing is usually via a credit card, therefore its unsecured financing and they do not require insurance. Quote Link to comment Share on other sites More sharing options...
AWW$HEEET Posted December 14, 2009 Author Report Share Posted December 14, 2009 Its because the motorcycle financing is usually via a credit card, therefore its unsecured financing and they do not require insurance. bingo, although like I said, if its more than 5k, they require it. while it would behoove me to carry it, I dont think its completely necessary in my case. Quote Link to comment Share on other sites More sharing options...
dover Posted December 14, 2009 Report Share Posted December 14, 2009 I have the sheffield card for my 08 Busa an they don't require full coverage Quote Link to comment Share on other sites More sharing options...
RyM3rC Posted December 14, 2009 Report Share Posted December 14, 2009 Yeah, allstate will do the same thing just about. They'll say "It's against the law in your state to drop liability on a currently registered motorcycle." Odd, because my parents have a combined 40+ years of insurance experience, and they seem to think it's BS. You gotta drop your policy altogether, and re-up with them or elsewhere later. Quote Link to comment Share on other sites More sharing options...
Radio Flyer1647545514 Posted December 14, 2009 Report Share Posted December 14, 2009 My insurance wont let me drop mine to liability only either. They say they can't do it with motorcycles. Quote Link to comment Share on other sites More sharing options...
John Bruh Posted December 14, 2009 Report Share Posted December 14, 2009 buy in spring sell if fall? Quote Link to comment Share on other sites More sharing options...
GRN96WS6 Posted December 15, 2009 Report Share Posted December 15, 2009 My insurance is like $380 a year for full coverage for a 600CC supersport....dropping it for the winter would really not help me in savings. Quote Link to comment Share on other sites More sharing options...
cptn janks Posted December 15, 2009 Report Share Posted December 15, 2009 mine is low enough that i dont worry about dropping insurance in the winter. besides that i ride pretty much all year round anyway, so it would not be advantageous to drop it. had a nice little ride after work today. Quote Link to comment Share on other sites More sharing options...
dover Posted December 15, 2009 Report Share Posted December 15, 2009 Mine is $1,100 for a year of Liability. You can only imagine what full coverage is. Anything over 1,000cc's is a "superbike", assholes. Plus there is a price break for insurance on bikes at 22 I believe. Quote Link to comment Share on other sites More sharing options...
Bam Posted December 15, 2009 Report Share Posted December 15, 2009 buy in spring sell if fall? eggzactly what I did for the past 3 years. and holy fuck dover, $1100/year, i want your income, lol. Quote Link to comment Share on other sites More sharing options...
dover Posted December 15, 2009 Report Share Posted December 15, 2009 army Quote Link to comment Share on other sites More sharing options...
ullBsorry1647545533 Posted December 15, 2009 Report Share Posted December 15, 2009 bingo, although like I said, if its more than 5k, they require it. while it would behoove me to carry it, I dont think its completely necessary in my case. Not true. I had HSBC for my last bike (total regret too using them) and I was much more than $5k and I never once had full coverage. Just liability. Quote Link to comment Share on other sites More sharing options...
ullBsorry1647545533 Posted December 15, 2009 Report Share Posted December 15, 2009 Mine is $1,100 for a year of Liability. You can only imagine what full coverage is. Anything over 1,000cc's is a "superbike", assholes. Plus there is a price break for insurance on bikes at 22 I believe. I think you're insurance company just sucks balls and fucks you over. I am NO WHERE NEAR $1100/year with a labeled "superbike".....and the whole age 22 thing...not happenin. Quote Link to comment Share on other sites More sharing options...
AWW$HEEET Posted December 15, 2009 Author Report Share Posted December 15, 2009 army lets get srs, guard/reserve doesnt pay that much Not true. I had HSBC for my last bike (total regret too using them) and I was much more than $5k and I never once had full coverage. Just liability. HSBC is a non issue if you pay your bills on time and dont act like a cock munch. Quote Link to comment Share on other sites More sharing options...
dover Posted December 15, 2009 Report Share Posted December 15, 2009 lets get srs, guard/reserve doesnt pay that much HSBC is a non issue if you pay your bills on time and dont act like a cock munch. i wouldnt know what they pay, im active duty with BAH bub. Quote Link to comment Share on other sites More sharing options...
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