John Posted May 4, 2011 Report Share Posted May 4, 2011 (edited) i have seen no ohio law that states that. nor have i seen an ohio law that would relieve an insurance company of their obligation to pay for your loss just because you were uninsured.please show me what laws say that. im interested to find out. Edited May 4, 2011 by John Quote Link to comment Share on other sites More sharing options...
magley64 Posted May 4, 2011 Report Share Posted May 4, 2011 Until your in a major accident and then you will think otherwise.no I'm quite happy with what I have now, I've paid just north of $400 in insurance for my motorcycle so far. (min req'd liability only) had I carried full coverage, I'd have paid over $10,000 on a bike that's probably worth 1/3 of that now. doesn't make any sense, I don't get any of that money back if something DOESN'T happen, so the way I see it I'm $9,600 richer (less in debt) than I would have been otherwise. I agree with John, just because one party or another is un-insured, fault of accident does not change. Now one can have their license suspended for being un-insured in an accident, but fault remains the same.I know this first hand, as up until 1995, my parents ran without insurance.Lady in a saturn pulled out in front of us, dad locked up and nailed her passenger rear door, spun her off into a ditch, her insurance paid for all damages, hospital bills, and injury claims (mom's shoulder still isn't the same). dad lost his license for 90 days, and was required to carry sr-22 insurance for 3 years from the date of the suspension. failure to carry sr-22 would result in immediate suspension of license for the remainder of the 3 year period. Quote Link to comment Share on other sites More sharing options...
Restlesswildman Posted May 4, 2011 Report Share Posted May 4, 2011 no I'm quite happy with what I have now, I've paid just north of $400 in insurance for my motorcycle so far. (min req'd liability only) had I carried full coverage, I'd have paid over $10,000 on a bike that's probably worth 1/3 of that now. doesn't make any sense, I don't get any of that money back if something DOESN'T happen, so the way I see it I'm $9,600 richer (less in debt) than I would have been otherwise. What the hell! How many points do you have on your license? I pay $180.00 a year for full coverage on a 97 CBR 600 F3! Maxed out like my cars!Someone is dicking you over if you don't have any points! Quote Link to comment Share on other sites More sharing options...
Likwid Posted May 4, 2011 Report Share Posted May 4, 2011 roflmao, he's got points I pay 400 a year (give or take) for a 2006 VRod with "full" coverage Quote Link to comment Share on other sites More sharing options...
magley64 Posted May 5, 2011 Report Share Posted May 5, 2011 What the hell! How many points do you have on your license? I pay $180.00 a year for full coverage on a 97 CBR 600 F3! Maxed out like my cars!Someone is dicking you over if you don't have any points!points points and more points, I speed most of the time, and I never run from the cops (on purpose). I get at LEAST 1 speeder per year, sometimes as many as 3 before i start getting nervous and backing off a bit.A 97 (read carbed) 600 is a wee bit different than an '01 1100XX; Geico seemed to think my bike was more than a little on the fast and dangerous side. Add that to me being <25 at the time of the quote and I said "screw that business"haven't rteally looked into it lately, it might have gone down, but the way i see it, if i crash because of my own stupidity, then it's my own fault. If someone else hits me, they can buy me a new bike. Quote Link to comment Share on other sites More sharing options...
crb Posted May 5, 2011 Report Share Posted May 5, 2011 no I'm quite happy with what I have now, I've paid just north of $400 in insurance for my motorcycle so far. (min req'd liability only) had I carried full coverage, I'd have paid over $10,000 on a bike that's probably worth 1/3 of that now. doesn't make any sense, I don't get any of that money back if something DOESN'T happen, so the way I see it I'm $9,600 richer (less in debt) than I would have been otherwise. What the hell! How many points do you have on your license? I pay $180.00 a year for full coverage on a 97 CBR 600 F3! Maxed out like my cars!Someone is dicking you over if you don't have any points!Agreed on the dicking! Wife and I just switched to allstate for the bike's 300/100/300 just like auto both bikes 269.25 a year for full coverage! Quote Link to comment Share on other sites More sharing options...
crb Posted May 5, 2011 Report Share Posted May 5, 2011 points points and more points, I speed most of the time, and I never run from the cops (on purpose). I get at LEAST 1 speeder per year, sometimes as many as 3 before i start getting nervous and backing off a bit.A 97 (read carbed) 600 is a wee bit different than an '01 1100XX; Geico seemed to think my bike was more than a little on the fast and dangerous side. Add that to me being <25 at the time of the quote and I said "screw that business"haven't rteally looked into it lately, it might have gone down, but the way i see it, if i crash because of my own stupidity, then it's my own fault. If someone else hits me, they can buy me a new bike.You an sue them for a new bike and if they are broke you will get nothing, more than likely they will just file bankruptcy if it is too much. My vehicles are worth the extra coverage! Quote Link to comment Share on other sites More sharing options...
magley64 Posted May 5, 2011 Report Share Posted May 5, 2011 (edited) Agreed on the dicking! Wife and I just switched to allstate for the bike's 300/100/300 just like auto both bikes 269.25 a year for full coverage!again...2 harley roadsters =/= 1 XX were talking apples and oranges.You an sue them for a new bike and if they are broke you will get nothing, more than likely they will just file bankruptcy if it is too much. My vehicles are worth the extra coverage!good, you continue to pay an insurance company that does nothing unless something bad happens, I'll continue to rely on my awareness, and the skills I've acquired.it's worth $4,000 maybe, if I crash and total it, I'll be sad, I won't be financially ruined, just sad.And if the person who hits me doesn't have 4,000 dollars to their name, then I guess you can sing "nana nana boo boo, stick your head in doo doo"for the time being we can both just ride, and I'll have more money for tires and gas. Edited May 5, 2011 by magley64 Quote Link to comment Share on other sites More sharing options...
Likwid Posted May 5, 2011 Report Share Posted May 5, 2011 lol, my favorite rate was a few years back... I was reading survey results and some kid was complaining about our rates...He was quoted at $2,000 a MONTH (not a year).... I thought he was full of it so I double checked... yup was right... but he was 18 with 2 DUIs, 1 accident and a hyper bike... what a doofus Quote Link to comment Share on other sites More sharing options...
magley64 Posted May 5, 2011 Report Share Posted May 5, 2011 lol, my favorite rate was a few years back... I was reading survey results and some kid was complaining about our rates...He was quoted at $2,000 a MONTH (not a year).... I thought he was full of it so I double checked... yup was right... but he was 18 with 2 DUIs, 1 accident and a hyper bike... what a doofusholy shyt, 24,000/yr? what bikes i could buy with that kind of coin, ORRR pay insurance on the bike I have already paid for in case something bad happens....what to choose? what to choose? I think i better play it safe and buy the insurance. Quote Link to comment Share on other sites More sharing options...
tyler524 Posted May 5, 2011 Report Share Posted May 5, 2011 I'm not worried about my bike getting paid for if I get hit but my medical bills. Sure I have medical insurance myself but it doesn't take much to rack up tens of thousands in medical bills Quote Link to comment Share on other sites More sharing options...
Likwid Posted May 5, 2011 Report Share Posted May 5, 2011 So here's an ACTUAL legal question... if you have sufficient cash assets why can't you define "financial responsibility" with a bank statement... why does it have to be a DOI insurer?If the state min limits are 12.5/25/12.5 and you have 50k in the bank... why do you need insurance? Quote Link to comment Share on other sites More sharing options...
crb Posted May 5, 2011 Report Share Posted May 5, 2011 So here's an ACTUAL legal question... if you have sufficient cash assets why can't you define "financial responsibility" with a bank statement... why does it have to be a DOI insurer?If the state min limits are 12.5/25/12.5 and you have 50k in the bank... why do you need insurance?I believe you can be self insured, I am not sure the requirements though. The state may require you to post a bond or something. Quote Link to comment Share on other sites More sharing options...
Bubba Posted May 5, 2011 Report Share Posted May 5, 2011 Pretty sure that what we're all talking about here is "Uninsured/Underinsured Motorist Coverage", which will pay you and your passenger for medical costs incurred in an accident involving someone who has either no insurance or the state minimum. It will also pay an amount if you are declared permanently disabled as a result of the accident. Obviously, if a cager mashes you and your bike and he's carrying the $12,500 minimum, it won't take too many days (hours?) of hospitalization to run up a much larger bill than that.Hope this isn't a repeat post--I didn't see this spelled out anywhere in the thread, and a lot of people don't understand what UIM coverage is all about. Quote Link to comment Share on other sites More sharing options...
Disclaimer Posted May 5, 2011 Report Share Posted May 5, 2011 So here's an ACTUAL legal question... if you have sufficient cash assets why can't you define "financial responsibility" with a bank statement... why does it have to be a DOI insurer?If the state min limits are 12.5/25/12.5 and you have 50k in the bank... why do you need insurance?You can. File the $30k surety bond w/ the state treasurer.http://codes.ohio.gov/orc/4509.45More specifically: http://codes.ohio.gov/orc/4509.62But as with everything else... that's $30k of your money that's permanently tied up in an account, and if you're sued beyond that, it's really getting hairy for you. Quote Link to comment Share on other sites More sharing options...
Likwid Posted May 5, 2011 Report Share Posted May 5, 2011 Be careful in your explanation, there are some wierd situations with medpay in Ohio... not all "medical payments" can fall under bodily injury.One interesting thing I learned, BI won't cover life flight... but medpay does. Quote Link to comment Share on other sites More sharing options...
Jst2fst Posted May 5, 2011 Report Share Posted May 5, 2011 Why would I need to carry UIM? It's illegal to drive uninsured. Cause some people think their above the law ya know.... or maybe they forgot to get insurance in the first place. Quote Link to comment Share on other sites More sharing options...
castellilaw Posted May 9, 2011 Author Report Share Posted May 9, 2011 that can be true but if you find an attorney that knows how to fight them if your case is righteous you should prevail Quote Link to comment Share on other sites More sharing options...
castellilaw Posted May 9, 2011 Author Report Share Posted May 9, 2011 because they only have to buy $12,500 in coverage and mosty bikers I represent have injuries that merit much more than that. Tony Quote Link to comment Share on other sites More sharing options...
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