for 7 bucks a month, I'd add the collision.
motorcycle insurance
So it's time to renew my motorcycle insurance. This means I've had my SV/s and been riding for one year now.
My premium is $94/year
for liability/comprehensive. I don't carry collision. My thinking was that my '01 is worth maybe $3,000 and a claim on my insurance would end up costing me several hundred or more in increased car insurance rates. I could afford to eat a loss if I had to.
I was curious what the thinking is on carrying collision. Is it something I should have? Progressive told me adding collision would add $84 a year for coverage.
My premium is $94/year
for liability/comprehensive. I don't carry collision. My thinking was that my '01 is worth maybe $3,000 and a claim on my insurance would end up costing me several hundred or more in increased car insurance rates. I could afford to eat a loss if I had to. I was curious what the thinking is on carrying collision. Is it something I should have? Progressive told me adding collision would add $84 a year for coverage.
1 - 20 of 28 Posts
An estimate for anything worth over your deductible is in "totalled" value. Save the $84 and buy gloves.
get an alarm and go with liability. insurance is money u never get back if your a smart rider with a little bit of luck u shouldn't need anything more
^^ Respectfully disagree. ^^
I'd stick with what you have but add Underinsured/Uninsured and Med Pay if you don't have that. Comp is a good one to have when events through no fault of your own occur. My accident with 2 deer was 100% covered through comp. They repaired my bike and replaced all my gear and I was 0% at fault and will receive no adjustment in my policy. Med Pay is covering the Doctor's visits and ER costs. Without it, it would have cost me $2300 in repairs and replacements PLUS the thousands my medical expenses have accumulated over a rather minor injury (shoulder separation).
I'll add, I'm with Progressive as well. My policy will start renewal this month and I will still shop it out. I gave up on Insurance Company loyalty many years ago. Regardless of what they claim, most will leave you for dead after you have filed a claim. I'll watch what happens with mine but they assured me in writing after the 0% liability determination that my rates would go unaffected. If that's the case when my paperwork arrives, I'll stick with them. I'll personally continue with Collision coverage 'cuz with 3 bikes on the policy, it is still cheap IMO, at about $475 a year.
I'd stick with what you have but add Underinsured/Uninsured and Med Pay if you don't have that. Comp is a good one to have when events through no fault of your own occur. My accident with 2 deer was 100% covered through comp. They repaired my bike and replaced all my gear and I was 0% at fault and will receive no adjustment in my policy. Med Pay is covering the Doctor's visits and ER costs. Without it, it would have cost me $2300 in repairs and replacements PLUS the thousands my medical expenses have accumulated over a rather minor injury (shoulder separation).
I'll add, I'm with Progressive as well. My policy will start renewal this month and I will still shop it out. I gave up on Insurance Company loyalty many years ago. Regardless of what they claim, most will leave you for dead after you have filed a claim. I'll watch what happens with mine but they assured me in writing after the 0% liability determination that my rates would go unaffected. If that's the case when my paperwork arrives, I'll stick with them. I'll personally continue with Collision coverage 'cuz with 3 bikes on the policy, it is still cheap IMO, at about $475 a year.
^ Great advice.
I'd also like to add to the OP to shop around. Seriously, in this economy companies are happy to have your business. I have insurance through Nationwide which I've had since we moved down. One of my father's friends also works for Nationwide. He got me the same exact insurance for about $30/year less!
So look around, you can probably minimize your premiums at least a little bit...
I'd also like to add to the OP to shop around. Seriously, in this economy companies are happy to have your business. I have insurance through Nationwide which I've had since we moved down. One of my father's friends also works for Nationwide. He got me the same exact insurance for about $30/year less!
So look around, you can probably minimize your premiums at least a little bit...
collisions with deer are covered under comp, not collision?^^ Respectfully disagree. ^^
I'd stick with what you have but add Underinsured/Uninsured and Med Pay if you don't have that. Comp is a good on to have when events through no fault of your own occur. My accident with 2 deer was 100% covered through comp. They repaired my bike and replaced all my gear and I was 0% at fault and will receive no adjustment in my policy. Med Pay is covering the Doctor's visits and ER costs. Without it, it would have cost me $2300 in repairs and replacements PLUS the thousands my medical expenses have accumulated over a rather minor injury (shoulder separation)
Correct. It was deemed an unavoidable object in the roadway.collisions with deer are covered under comp, not collision?
^ ****, glad you're OK from that!
THIS^^ Respectfully disagree. ^^
I'd stick with what you have but add Underinsured/Uninsured and Med Pay if you don't have that. Comp is a good on to have when events through no fault of your own occur. My accident with 2 deer was 100% covered through comp. They repaired my bike and replaced all my gear and I was 0% at fault and will receive no adjustment in my policy. Med Pay is covering the Doctor's visits and ER costs. Without it, it would have cost me $2300 in repairs and replacements PLUS the thousands my medical expenses have accumulated over a rather minor injury (shoulder separation).
I'll add, I'm with Progressive as well. My policy will start renewal this month and I will still shop it out. I gave up on Insurance Company loyalty many years ago. Regardless of what they claim, most will leave you for dead after you have filed a claim. I'll watch what happens with mine but they assured me in writing after the 0% liability determination that my rates would go unaffected. If that's the case when my paperwork arrives, I'll stick with them. I'll personally continue with Collision coverage 'cuz with 3 bikes on the policy, it is still cheap IMO, at about $475 a year.
Having had a similar occurence (collision with live animal) and needing large repairs the comp/coll coverage was priceless. I too am with progressive and received no rate adjustment. The extra $84/yr you're talking about is immaterial when talking about the peace of mind of full coverage.
Personally, it comes down to what you are willing to eat. I am not willing to get in an accident and be without my moto until I can afford to fix it/replace it. ESPECIALLY if I hit a deer where my rate shouldn't go up at all. I ALWAYS carry:
Liability: 100k/300k
Uninsured: 100k/300k
Underinsured: 100k/300k
Private Property: 100k
Modifications/Gear: 5k
Comp Deduct: 250
Coll Deduct: 250
Towing
Rental (if they have it for moto insurance.. hehe, why not - usually free or a dollar to two per month)
I too am in the shopping around mood today. I am a member of the Wisconsin Army National Guard, so I went to shop at USAA today. Unfortunately, the office I got ahold of goes through Progressive (I THINK they do a bunch of different agencies, depending on the office, but I could be wrong). I had progressive last year, and while the coverage was fine, I wanted to either find something that was cheaper, or the same price and allowed me to suspend coverage for the winter (Progressive does not, and I am fairly certain that they do not "build" it into the cost of the coverage - again, I could be wrong).
I am 23, am married, and own my own house. I have my cars (wife's and mine) through Progressive, but Progressive does not give a multi-plan discount or anything. I have one speeding ticket, and I require the above stipulations in my quote.
Progressive (through USAA) - $576 per year.
Progressive (online) - $547
Dairyland - $544
Geico - $666 (I sh!t you not)
I'm going to check on State Farm today, but I dont have my hopes up.. It looks like either Progressive again this year or Dairyland. Dairyland doesn't have a provision to suspend coverage, but they do build in a discount because of the winter months.
EDIT:: Oh, and I guess Geico does build in the fact that I live in a "colder state". So again, progressive or dairyland unless State Far is amazing or something
Liability: 100k/300k
Uninsured: 100k/300k
Underinsured: 100k/300k
Private Property: 100k
Modifications/Gear: 5k
Comp Deduct: 250
Coll Deduct: 250
Towing
Rental (if they have it for moto insurance.. hehe, why not - usually free or a dollar to two per month)
I too am in the shopping around mood today. I am a member of the Wisconsin Army National Guard, so I went to shop at USAA today. Unfortunately, the office I got ahold of goes through Progressive (I THINK they do a bunch of different agencies, depending on the office, but I could be wrong). I had progressive last year, and while the coverage was fine, I wanted to either find something that was cheaper, or the same price and allowed me to suspend coverage for the winter (Progressive does not, and I am fairly certain that they do not "build" it into the cost of the coverage - again, I could be wrong).
I am 23, am married, and own my own house. I have my cars (wife's and mine) through Progressive, but Progressive does not give a multi-plan discount or anything. I have one speeding ticket, and I require the above stipulations in my quote.
Progressive (through USAA) - $576 per year.
Progressive (online) - $547
Dairyland - $544
Geico - $666 (I sh!t you not)
I'm going to check on State Farm today, but I dont have my hopes up.. It looks like either Progressive again this year or Dairyland. Dairyland doesn't have a provision to suspend coverage, but they do build in a discount because of the winter months.
EDIT:: Oh, and I guess Geico does build in the fact that I live in a "colder state". So again, progressive or dairyland unless State Far is amazing or something
Ha!!
Ironic, my renewal from Progressive just showed up in the mail right now! I knew it was coming soon.
For 3 Motorcycles, full coverage; Lia, Comp, Coll, UnIns/UnderIns, UnIns Mot Prop Dam, and $3k accessories coverage on each bike.....$454/yr or 4 payments at $119 every 2 months.
Chump change! Don't think I'll shop it!
I need to go buy another bike. I'm seeing a 25% discount for 3 bikes now and I'll get a 35% discount if I have another. Seems like a darned good reason to go buy that DRZ400S I've been wanting! :lmao:
Ironic, my renewal from Progressive just showed up in the mail right now! I knew it was coming soon.
For 3 Motorcycles, full coverage; Lia, Comp, Coll, UnIns/UnderIns, UnIns Mot Prop Dam, and $3k accessories coverage on each bike.....$454/yr or 4 payments at $119 every 2 months.
Chump change! Don't think I'll shop it!
I need to go buy another bike. I'm seeing a 25% discount for 3 bikes now and I'll get a 35% discount if I have another. Seems like a darned good reason to go buy that DRZ400S I've been wanting! :lmao:
I'm 29, clean record, have 250k/500k comp/collision/uninsured, medical... for $349/yr through foremost. Got it through my farmers agent.
Wow mine is really high.
Ive tried getting a quote on my new sv650 because i haven't insured it yet, and through progressive and geico both the lowest i could get was $1600 a year. That was with almost every coverage(except medical and roadside) but lowest amount and highest deductible.
This too high? Im only 20 but have a clean record.
Ive tried getting a quote on my new sv650 because i haven't insured it yet, and through progressive and geico both the lowest i could get was $1600 a year. That was with almost every coverage(except medical and roadside) but lowest amount and highest deductible.
This too high? Im only 20 but have a clean record.
This too high? Im only 20 but have a clean record.
There's your answer. Unfortunately, you are still a menace to society!! :lmao:
I'd shop the bajeezus out of it and get Medical 'cuz you're gonna need it unless you're on your folks Health Insurance still.
lol i know it... I would only get liability.. but got a loan so i believe i have to have full coverage. And yeah im still on my parents health stuff...
I just do not know how im going to be able to pay that amount for insurance.
At what age does it start to go down? 21? 25?
Thanks
I just do not know how im going to be able to pay that amount for insurance.
At what age does it start to go down? 21? 25?
Thanks
The milestones are typically 25 y/o and also married, I believe in that order. They figure once you're married, it's about the same as being neutered so you're not running around trying to impress the chicks! :lmao:
Rates took a drastic dive after I turned 25. My Prelude went from $250/mo to $800/yr.
I think I've stated my position plenty enough on the issue.
Question for your AAA Roadside Assistance. Do you have the specific "Motorcycle" plan? I ask just because I know many that thought it was covered under the regular plan but it's not. I have the Premier RV/Motorcycle plan since I have a few travel trailers as well as bikes. Just a thought, just in case.
Question for your AAA Roadside Assistance. Do you have the specific "Motorcycle" plan? I ask just because I know many that thought it was covered under the regular plan but it's not. I have the Premier RV/Motorcycle plan since I have a few travel trailers as well as bikes. Just a thought, just in case.
1 - 20 of 28 Posts
- This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Suzuki SV650 Riders Forum
A forum community dedicated to Suzuki SV650 owners and enthusiasts. Come join the discussion about performance, modifications, racing, troubleshooting, maintenance, and more!
Full Forum Listing
Top Contributors this Month
View All
Flash Yellow
309 Replies
VFR4Lee
185 Replies
ziffusion
119 Replies
