[NTJordan]

So, I am shopping for new insurance and am feeling a little lost this time around. I was wondering, can anyone provide a website that will explain to me each part of the coverages? I just don't know what to get anymore. Last time I was still making payments on the bike so I just got full coverage and moved on, but I just paid it off (YAAAAY) so I don't know what I really need.

I like full coverage, but I can't afford a year of it right now (monthly payment on things is not my friend, I have learned that from the bike!). The other factor is that I know how to do my own work now, so I have no need for labor at a shop.

The only thing I really want is to stay legal and have it covered in event of theft or irreperable damages. I don't know enough to even be aware if that is possible, or if I am just talking about full coverage and should just leave the bike parked for the month till I can get the money. Any advice is very appreciated.

I already called my Mom on this, but her knowledge is not much better then mine so I need further help. And yes, I might be 24 years old, but my solution to vexing problems is still to call Mom. She often has the answers, and at very least you always know she really does have your best interest in mind. ;D

 

[saabsaviur]

look into geico, there website and customer sevice is great, and rates are very comparable. get a instant quote on there website

 

[buzzmanrm]

WIki is FTW

 

[Fatass SVS]

Collision = You break your bike, insurance pays you. This is usually expensive.
Comprehensive = Tree falls on bike, or idiot steals bike, insurance pays you. Nowhere as expensive as collision.
Liability = You break somebody's bones, insurance pays them. Gotta have this. Most states require it but usually not a whole lot. Don't be the kind of chump who just carries the minimum. (Ohio requires $12.5k/$25K) You should have $100k/$300k. (Yeah, I work for an insurance company, but my clients are people who caused accidents. You don't want to be sweating whether a jury is going to give the victim TOO MUCH Fairness. Then again, you don't want to be my client in the first place.)
Un- /Under insurance Some chump with the legal minimum (or just less coverage than you have) T-bones you and breaks your body and your wallet. Your insurance company pays you the difference between what your claim is worth and chump's policy limits. Buy this.

In most cases the difference between enough coverage and just the minimum you need is not that much. Talk to an agent, at least initially so you can get your questions answered. Some companies undersell their own agents if you buy online. (I got my bike ins through Progressive. They do this. I don't work for Progressive, though.) Ask yourself, if the company is screwing their own agents, how will they treat you when you come looking for money?

 

[NTJordan]

Awesome, thanks guys. Fatass, that was just what I needed, thanks for sharing your knowledge. Sounds like good liability and comprehensive is the way to go, time to hit the books and find the best deal.

 

[lago]

look into geico, there website and customer sevice is great, and rates are very comparable. get a instant quote on there website

Geico is horrible to deal with around here, everyone I've known that's dealt with them has had an incredibly difficult time getting them to pay out. They also have by far the highest rates and have a habit of purchasing radar guns for police so that police can raise people's rates more.

 

[Fatass SVS]

Sounds like good liability and comprehensive is the way to go, time to hit the books and find the best deal.

Don't forget the uninsured/underinsured coverage. You're buying it to protect yourself, and it's typically cheap.

 

[Oh My Sack!]

I have full coverage with Progressive. They have an excellent website that lets you build your coverage package.

In you're situation;

Liability, at least 100k/300k, screw you're state's minimum, they're usually low....like 30k or so. Be protected so you don't end up in debt for life for making a mistake that hurts someone.

Get Comprehensive. That portion of my policy just took care of me when I had 2 deer run into and caused me to crash. It fixed my bike and replaced all my gear that was wasted, over $2k worth and I receive Zero fault so my rates will not be affected.

Get Medical Payments. At least $10k minimum. That portion of my coverage paid the ER visit for my accident. A couple grand by the time X-rays, evaluations, and pain meds given. Also is covering my visits to the Orthopaedic Surgeon for evaluations of my shoulder, now.

Get Uninsured/Underinsured coverage for that stinking illegal immigrant that smashes you or the douche that is running with the state's minimum.

Still too expensive? Park it and drive a car till you hit the milestone age of 25 which has a significant bearing on insurance costs.

I'm in a much different age bracket then you but I pay $500 a year for my SV, a vintage CB650SC, and a near new Polaris Sortsman 500HO ATV, all full coverage.

 

[flybyuin2.2]

look into geico, there website and customer sevice is great, and rates are very comparable. get a instant quote on there website

Geico here also. Always great prices on all bikes, I've had Super Sport, Sport type. Easy online policy features and they use recommended body shops, the best part is no more going to a Agent and waiting for an hour to make changes to your policy.

 

[Jane Doe]

I am now insured with State Farm--I really like 'em and get really great service. Cheap too. It's nice to have an agent with an office to visit with questions, problems, etc. I've was insured by Geico for a few years, but wasn't so fond of their customer service. I talked to a different agent every time I called, none of whom were too excited to help out. I was told (and I have no idea how true any of the following is) that State Farm is cheaper because they consider the many characteristics of the bike, not just the make (I was told that other companies consider only the make and its claim/crash stats, and since Suzuki makes GSXRs...). I saved over $300/yr switching to State Farm from Geico!
em

Oh, and State Farm agents are more than happy to explain all the particulars (I didn't really understand them either- I called Dad) and work with your budget.

 

[SoozQ650]

I am in the same situation.

Right now I'm pricing out progressive (seems to be the best price considering I have a ticket on my record). I'm 23 - but given the coverages I'm looking at 2100 ish.

Right now Med. payments are at 10k - should I raise them? what do you think?

 

[Maviryk]

I am in the same situation.

Right now I'm pricing out progressive (seems to be the best price considering I have a ticket on my record). I'm 23 - but given the coverages I'm looking at 2100 ish.

Right now Med. payments are at 10k - should I raise them? what do you think?

10k does not even cover a broken wrist. The ambulance ride is alread 1K.

 

[leaftye]

If you're military, go with USAA, especially if you're at least an E-5.

 

[Zokambaa]

Get the value of the bike, then consider if full coverage is worth it also consider you do generally have to pay a deductable...

Then also consider this really only applies if you are at fault or you lose controll and hit a tree or something... otherwise the other guy's insurance pays...

Now consider 1 million liability at minimum... I'd say more in the usa... since you have wacked medical systems down there where a teatnus shot and a lollypop costs $10,000 or something equally as stupid...

and fire theft/vandalism (fire/theft/vandalism is a minimal addition to a policy)

if the bike is worth less than 4k I don't know if I would even bother with full coverage unless you have a lot of expensive aftermarket stuff on the bike..

anyway a lot of insurance companies also will let you pay monthy instead of all up front so the hit may be easier to take that way too...

Here in Canada I don't think you can even get less than 500,000 coverage.... but 1 million should be your minumum... unless you like going bankrupt and paying for some lawyer and faker's medical bills for the rest of your life...

So, I am shopping for new insurance and am feeling a little lost this time around. I was wondering, can anyone provide a website that will explain to me each part of the coverages? I just don't know what to get anymore. Last time I was still making payments on the bike so I just got full coverage and moved on, but I just paid it off (YAAAAY) so I don't know what I really need.

I like full coverage, but I can't afford a year of it right now (monthly payment on things is not my friend, I have learned that from the bike!). The other factor is that I know how to do my own work now, so I have no need for labor at a shop.

The only thing I really want is to stay legal and have it covered in event of theft or irreperable damages. I don't know enough to even be aware if that is possible, or if I am just talking about full coverage and should just leave the bike parked for the month till I can get the money. Any advice is very appreciated.

I already called my Mom on this, but her knowledge is not much better then mine so I need further help. And yes, I might be 24 years old, but my solution to vexing problems is still to call Mom. She often has the answers, and at very least you always know she really does have your best interest in mind. ;D

 

[Hellfire]

USAA will not open any new motorcycle insurance policies. If you have a remaining insurance account on your bike with them they will continue to cover you, but they will not open any more account. They will refer you to Progressive, which I am insured through. I have had really good experience with Progressive.

 

[bradk04]

I found that it pays to call every insurance company known to man if you are just looking for the best deal. It amazed me how much different the rates were.

Just for comparison purposes I have allstate and pay $754 per year. I'm 23, clean record, less than a year riding experience.
Liability:$30k/$60k, property damage-$25k
Uninsured motorist:$25K/$50K
med payments:$5k
$500 deductables

USAA is definitely the best, unfortunately you have to have 3 years riding experience otherwise they send you to progressive which is way more expensive, they quoted me 1300 for the above coverages.

Insurance is a PITA and you **** near have to have it to walk out of your front door.

 

[Zokambaa]

I found that it pays to call every insurance company known to man if you are just looking for the best deal. It amazed me how much different the rates were.

Just for comparison purposes I have allstate and pay $754 per year. I'm 23, clean record, less than a year riding experience.
Liability:$30k/$60k, property damage-$25k
Uninsured motorist:$25K/$50K
med payments:$5k
$500 deductables

USAA is definitely the best, unfortunately you have to have 3 years riding experience otherwise they send you to progressive which is way more expensive, they quoted me 1300 for the above coverages.

Insurance is a PITA and you **** near have to have it to walk out of your front door.

you actually do have to have insurance if you walk it off your property...

it is even a good idea to keep fire/theft/vandalism basic insurance on a bike you have sitting unused in your garage this way you are protected if someone breaks in or if there was a fire etc.... but it also keeps your motorcycle policy alive even if you aren't riding.... which means if you decide to ride 2 or 3 years later you don't have to pay high rates again...

at least that is how it works here... if you don't keep consecutive years of insurance going on the bike, rates are higher when you start it up again...

I think fire/theft/vandalism is $70-100 a year here or something...

 

[bradk04]

Well I meant like insurance for myself personally...bad joke. Renters insurance is next for me. That's good info to know about about keeping the motorcycle policy alive for consecutive years. I left out that I do have collision and comprehensive to cover theft and vandalism and such. Those are rated at actual cash value. Plus $1k for add-ons.

 

[stinky_finger]

I will echo what the others have said about Uninsured/Underinsured coverage. My friend just got hit by lady in a late model Mercedes with no insurance. He was ok, but the bike is totaled. The lady apparently was late with her payments and the policy was canceled. This bad economy means more and more middle class people running with little or no insurance. Cover your a$$!

 

[flybyuin2.2]

One good thing that I can say about Geico is that my bike is covered at race tracks(not timed events) so many of my friends have made the switch for that reason, that is if you like to go to a track day once in a while and have some fun with friends.