Every state's insurance laws & polices are different. In Alabama with All State (Progressive is the same) the minimum amount per policy/motorcycle is $75 annually. I have full coverage on 6 motorcycles, 4 are at $75 annually, one not far over and one triple that. An example - a 2003 Yamaha Zuma 50 with full coverage + $1k in accessories is $75, would be $75 for liability only. Because of my age and driving record the total annual expense for the 6 with full coverage is less than $800. Also carry underinsured & uninsured increasing policies over the $75 minimum.

 

I keep full coverage on mine. For me it's only $3-$4 more per month than base liability, and if something happens, I'll get something for the bike one way or the other.

 

Depends what the bike (or car) is worth. If it is old and worth say $2k, I would just get liability.
If it's worth $10k or more full coverage. Your trigger numbers may vary, also depends on what the insurance costs.

 

Thanks for the replies. I worked out a plan with progressive. Much cheaper than what I was quoted from my insurance company. Didn't get full coverage. Maybe that will come later. Bike is a 2007 sv650s that I paid $2500 for.

 

I'm in Canada and have full replacement insurance (if that's what you mean). $8000+ to replace a bike I paid $2700 for (but it was mint). Can't think what I paid (went private as the state imposed insurance is crazy) but its about $230 a full year.

 

Here in the UK it's called ,"Fully Comprehensive". There's little point having anything else IMHO. Be warned. Insurance assessors are brutal and at least here in the UK if you have not informed them of mods to the bike that are not covered in the policy they will reduce or even fully deny payouts!

 

i have full coverage even on the race bikes (obviously it would only get used in case of theft...)
if it's a nice bike in nice shape, it's worth a bunch of money. if it costs a few extra hundred a year to have the coverage, it's peace of mind at least, and if it goes missing you win...

 

I think you can really only answer that by how much to insure and how much to replace. Also how many bikes you own factors into it, and how much ability you have to fund a replacement.

I am old now, and I have gravitated to less valuable bikes. I had a 2014 DR650 and a 2005 FZ-1, plus two snowmobiles. I realized having all of them on full coverage cost more than the risk, since not all of them would be stolen/crashed at the same time, and the most valuable one of the whole bunch was only worth $4k. And if something happened to any of them, I would have something to ride. I did always have full coverage on my ATV, even though it was not more valuable than the motorcycles and sleds, because they get stolen so often, and the replacements are so costly.

But now I plan to only have the SV for a while, and it would cost at least $6k to replace, and since I would not have anything in reserve I would want another motorcycle, and the insurance coverage would be a big head start on whatever I chose to get. And full coverage on an SV for an old guy is cheap.

 

I pay just over $100/year for replacement value.