Insurance Question

[Sunnybear]

I am getting ready, in a couple weeks, to register the '84 R100RT.

Is it worth the extra cost to get comprehensive insurance, or just go with liability, which is not all that expensive?

[subagon]

I say skip the comprehensive. The cost to repair an old bike will be more than the book value. 90% of the time they'll write it off and just give you a check for the book value.

I added my "new" airhead to my current policy (liability only) just last month. Because I got a multi-bike discount, my total yearly insurance bill went down $20 :thumb

[83014]

I'm not sure about the bike but my wife's 1986 560SL had comprehensive. She hit a deer. I would have been lucky to get $6000 for that car before the accident, bad paint, cracked leather seats, no ac. I got $9200 after the deductible since it was totaled. We bought a 1999 BMW Z3 with the payout. I'm a believer in comprehensive. It's usually just a few dollars and may save some bucks(no pun intended) down the road.

[osbornk]

Check with your carrier. I have Progressive and my premium was the minimum premium. I had liability for years. Someone tipped me off to check with them regarding collision and comprehensive on my 86 R80RT. I now have liability, $100 deductible comprehensive and $250 deductible collision and I still pay the minimum premium.

Another thing regarding medical coverage. Many health insurance poicies have been rewritten in recent years. Some of them are now excess over the coverage you have on a vehicle. They don't pay anything until your have exhausted all of you coverage on the vehicle. If that is the case, you're wasting most of your money having the coverage.

[brickrider]

Check with your carrier. I have Progressive and my premium was the minimum premium. I had liability for years. Someone tipped me off to check with them regarding collision and comprehensive on my 86 R80RT. I now have liability, $100 deductible comprehensive and $250 deductible collision and I still pay the minimum premium.

Another thing regarding medical coverage. Many health insurance poicies have been rewritten in recent years. Some of them are now excess over the coverage you have on a vehicle. They don't pay anything until your have exhausted all of you coverage on the vehicle. If that is the case, you're wasting most of your money having the coverage.

+1

Excellent Advice

Ride Safely,
BrickRider

[gnavecky]

I say skip the comprehensive. The cost to repair an old bike will be more than the book value. 90% of the time they'll write it off and just give you a check for the book value.

I added my "new" airhead to my current policy (liability only) just last month. Because I got a multi-bike discount, my total yearly insurance bill went down $20 :thumb

I have Progressive and had 4 bikes on my policy (2 full, 2 liability). Late summer I sold my 71 Honda CL350. The liability on it was $71.00. I REMOVED it from the policy (2 full, 1 liability) and the total for the policy went UP $14.00. My agent or Progressive could not tell me why. I have been with them for 9 years with NO claims or tickets. I also told Progressive that I was not happy that they paid $53 MILLION to put their name on a stadium in Cleveland and then my policy goes up!!!

[108625]

I used to only carry liability & uninsured motorist on my old Jeep truck, until one day when I was hit by an uninsured motorist. Sure, UM coverage would have taken care of my medical bills, but I was completely out of a vehicle, without a dime to show for it. Sue her? O.K. people who don't pay their insurance don't respect the courts either, a settlement might be a moral victory, but it still doesn't ensure you collect any money, if said irresponsible loser has nothing to pay with.

A friend of mine had his dirt bike stolen from out of his truck, the same summer he bought it. Guess what, no insurance at all on the bike, no comp on the truck or it's contents, and he's out $7grand.

A few extra bucks a year can save you a hard hitting loss, or at least ease the pain.

[lkchris]

Without the comprehensive you're on your way to yet another RS/RT with now an S fairing. Busting your RT fairing will be a $5K bill.

[Sunnybear]

well, that is a great point...thanks for all the replies...

[osbornk]

I used to only carry liability & uninsured motorist on my old Jeep truck, until one day when I was hit by an uninsured motorist. Sure, UM coverage would have taken care of my medical bills, but I was completely out of a vehicle, without a dime to show for it.

Uninsured motorists coverage is different in every state so you need to check the coverage in your particular state. For example in Virginia, uninsured motorist for property damage is required. An unidentified uninsured motorist that causes damage (hit & run, etc) results in a $200 deductible and steps in just like they insured the other vehicle. An identified uninsured motorist that causes damage results in no deductible.

[jamesdunn]

I'm not sure about the bike but my wife's 1986 560SL had comprehensive. She hit a deer. I would have been lucky to get $6000 for that car before the accident, bad paint, cracked leather seats, no ac. I got $9200 after the deductible since it was totaled. We bought a 1999 BMW Z3 with the payout. I'm a believer in comprehensive. It's usually just a few dollars and may save some bucks(no pun intended) down the road.
I think it wise to invest a few more bucks in comprehensive. I pay very little more for comprehensive and have peace of mind.

[madcatdad]

and it will cover theft, animal hits, vandalism, falling objects!

as with all insurance questions...READ THE POLICY...pay attention to the exclusions and ask for every type of discount you think you can qualify for...

[Sunnybear]

well, I will probably end up getting comprehensive coverage..

but just for the sake...

if new tupperware costs $5000.00, and the bike got trashed and needed it, and the book value is say $3000.00, would the insurance company just total teh bike anyway instead of replacing the plastic?

[108625]

if new tupperware costs $5000.00, and the bike got trashed and needed it, and the book value is say $3000.00, would the insurance company just total teh bike anyway instead of replacing the plastic?

Possibly, but how much would you get for it without coverage?

I'd rather go buy something else to ride for $3,000, than be stuck at home with my wrecked beemer.

[Sunnybear]

Possibly, but how much would you get for it without coverage?

I'd rather go buy something else to ride for $3,000, than be stuck at home with my wrecked beemer.

ummm

well, true dat

[airhead78]

See the thread in the midwest section for insurance costs in Chicago. $192/yr for 78 and 88 rss $500 liab/ full coverage. Restrictions apply.

Eduardo.

[83014]

A little follow-up about my wife's 560SL. The insurance company offered a reduced settlement and I would keep the car. That may be an option for you if you end up with a totaled bike because of fairing damage but otherwise have a servicable bike. The car would have been retitled as a salvage vehicle. Since you asked the question, I'm sure you know the difference, but there seems to be some confusion on this thread about comprehensive vs collision. For an old bike, collision is usually not worth it. Comprehehensive is cheap, at least in NC.

[crazydrummerdude]

So, is the multi-bike discount noticeable? (With my 4 wheeled vehicles, my truck cost like $80/month, and when I added my Blazer to the policy, it only went up to about $100/month total.) I will soon be insuring my R90.. can I expect a "deal"?