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Discussion Starter · #1 ·
I had a lowside awhile ago and just wondering how people decide when to turn the crash into insurance?
Do you wait untill its at least double your deductable? Im always worried what the increased premiums from a claim will do to me in the long term..

My recent one was about $1200 in parts (including the helmet) if I bought everything from Ron Ayers. Most of the stuff, especially the expensive stuff didnt really need replaced. The radiator is only minorly tweaked(only noticable if you look) and the tank has some minor scratches on it (about $450 at ron's though) So to get it up and running again is really going to be about $400 if I ingore the minor scratches and tweak. But with dealer labor Im sure the repair bill would be $2k or more. My deductable is $1k though.


So at what point do you decide to turn your lowsides into insurance?
-B
 
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Never! Unless the bike was a total write-off the thought wouldn't cross my mind, which is -admittedly- kinda dumb. What good is insurance if you don't use it when you need it?

:)
 

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Unfortunately, I'd have to generally agree with NC, it's probably not a bad idea to consider that insurance protects in the event of "catastrophic" loss (ie. pretty damn severe), but that less dramatic losses should be "self-insured" to keep overall insurance costs under control.
 

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I wouldn't talk to the insurance company unless it was stolen or I was involved with another vehicle in the accident (they'll find out anyway).  They're watching carefully for any sign that you might be at risk of serious injury; a lifetime of paying into the insurance company won't cover the medical claims from one serious accident, provided you survive.
 

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I turned mine in because I did a guesstimate and just the parts for repair would run me about 1500-2k.  My own deductible was $500.  

I'll also admit that the fact that a cop happened by and said "If the damage is over $700, the law says you need to file a police report.  That looks like over $700 to me." weighed into my decision.   :-\
 

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I was not going to comment until I saw Flatline's statement ... good one too!

First question you have to ask yourself ... is your bike a jewel or a tool? 8)


1.  Are the cops involved, is there a police report?
2.  Is the other person totally at fault?  (if it is only you and a low side, hide it!)
3.  What does your and your significant other's driving record look like?
4.  Can you afford to fix it cheaply like ebay or our forum?

Eat the cost if you can afford it, if you can't afford it, believe me they will get their pound of flesh one way or the other.
Like someone said earlier, insurance for me is for catastrophes.

If you fix cheaply and ride it and get into a bigger crash later, all the minor damage can be rolled into that one making it more feasible.
There is no way to detect if a minor scratch was caused by a big crash.
 

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Discussion Starter · #7 ·
Currently said:
1. Are the cops involved, is there a police report?
2. Is the other person totally at fault? (if it is only you and a low side, hide it!)
3. What does your and your significant other's driving record look like?
4. Can you afford to fix it cheaply like ebay or our forum?
well for me in particular
1) no police report
2) no other person
3) no tickets, only one accident in the last 3 years. (auto)
4) yah, no problem.

Im not planning on using insurance for this one. Thats why I always have high deductables. ($1k) I only ever plan using it if there is alot of cost, otherwise I just eat it and get on with my life. I was more interested in other people's thought process. I always look at 1) if I have to claim it period (cops, other people, the like) and 2) Is the claim big enough to do over my deductable *AND* the increased premiums over the next 3 years. The thing that sucks the most is having to buy a new helmet. The one I had is only a couple months old. :( Good thing I didnt buy the shoei I was looking at.
 
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Slight threadjack: what difference does it make if you have a reportable accident (in excess of $500 here in NC), and you DON'T file an insurance claim? I don't see why the insurance company would care, and I don't see how the bank would find out.

:)
 

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Spirit of Bunny said:
for the SV, its probably never a good idea

theft and liability is all I've ever carried.
+1, but if I had collision, I would report it in the event of a crash that was not my fault (someone hitting me). Otherwise, fix it myself ;)
 
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