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Discussion Starter · #1 ·
As i'm trying to look into insurance rates I've noticed that many don't include anything but Liabilty.

basically, if you only have liability, the insurance is cheap. $80/year maybe,
but if you have comp/collision, the insurance is 6x higher, $700-$1400/year

and I as I have read through the few insurance threads on here, it makes me wonder just how many of you out there are driving with only liability?


As much as bikes are stolen, knocked over or dropped, i'm surprised that people would keep no coverage for such. Especially comprehensive.


Just what kind of coverage are you guys keeping?
 

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As i'm trying to look into insurance rates I've noticed that many don't include anything but Liabilty.

basically, if you only have liability, the insurance is cheap. $80/year maybe,
but if you have comp/collision, the insurance is 6x higher, $700-$1400/year

and I as I have read through the few insurance threads on here, it makes me wonder just how many of you out there are driving with only liability?


As much as bikes are stolen, knocked over or dropped, i'm surprised that people would keep no coverage for such. Especially comprehensive.


Just what kind of coverage are you guys keeping?
If you are financing the bike, you are required by the lender to have full coverage.

Collision is what typically moves the decimal point drastically to the right.

I paid cash for both, but I still chose to get full coverage. If you do the same or pay yours off early and only get liability and comprehensive, you should be ok if it happens to get stolen... just don't hit anything or let it fall over... or else you are on the hook to fix your bike.
 

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If you have a lien on the bike, you pretty much NEED to have comprehensive.

Whereas my $3k 2003 CBR600RR that was (used and) paid off, I had liability only on it.

edit: sinjin beat me to it :)
 

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Discussion Starter · #4 ·
right right, I get that...but anybody with an 899 has a bike is that is worth anywhere from 9-13k right now...

whether it's paid off or not, it would be crazy not to have comp at least if it were totaled or stolen.

i'm buying mine from a private seller, with cash...but I'm getting full coverage because the bike is worth it. If it gets stolen, I want to get something back. If I get a small off with it,...I want to get some cash so that I can fix it.

without comp/colli, you're SOL if it's stolen or you have a off (like our buddy with his in the creek).

I'm sure all you guys understand that...i'm just trying to understand the rational behind not having comp/colli on a $15k vehicle whether you finance or not...
 

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Discussion Starter · #5 ·
shoot, I have a Audi, a chevy and Scion...all of which are paid off...all have full coverage cause if something were to happen, i'd want to get something back to fix 'em. The only time I can see not keeping full coverage is if the vehicle isn't worth anything...
 

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Look at Rider Insurance, I pay a little over $300 for full coverage per year. Before I went with Rider, Allatate, State Farm and Progressive quoted me insane amounts.
 

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Discussion Starter · #8 ·
Bait and brag? Interesting.
haha neither, cause i'm probably more broke than anyone else on this forum.

But my point was, paid off or not, the cars have value, just like the bike and I don't see the point of not keeping full coverage.


I'm definitely gonna go with Rider...
 

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haha neither, cause i'm probably more broke than anyone else on this forum.

But my point was, paid off or not, the cars have value, just like the bike and I don't see the point of not keeping full coverage.


I'm definitely gonna go with Rider...
Ha! I didn't think so but I had to give you a hard time for answering your own question that way.!
 

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Discussion Starter · #10 ·
i'm kinda mad that my insurance was so high. I've been with allstate for like 5-8 years...and they quoted me like $1,400

and the agent wasn't trying to change any parameters or deductibles...he was just like here ya go..looks like allstate doesn't want to insure your bike.
 

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I actually ride my bike so it gets the full treatment. It is just idiotic to not get comprehensive and collision on a bike of this value unless it's sitting around in your garage bolted to the floor. I wadded up an old CBR years ago that had cost me what was at the time a lot of money for me (being a student and stuff) and even on that thing I wished I'd had collision. I got absolutely nothing for it except a giant pain in the ass parting the thing out on Craigslist. To see that happen to a 2014 Ducati would be a real headscratcher.
 

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i'm kinda mad that my insurance was so high. I've been with allstate for like 5-8 years...and they quoted me like $1,400

and the agent wasn't trying to change any parameters or deductibles...he was just like here ya go..looks like allstate doesn't want to insure your bike.
I have Allstate as well and challenged them (on 6/11) on the sport 5 classification. They have since kicked it up for review and it should be another day or two when I hear back. I will post what they tell me.
 

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Discussion Starter · #13 ·
What do you mean? What I sport 5?
 

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What do you mean? What I sport 5?
When I was originally looking at the 1199, they didn't have it listed in their database, so they quoted me the 1198 at $1700. The 1198 is classified as a sport 3 on their chart of bikes, i.e. engine size, HP, cost, etc.

So when I called to get the 899 added to my policy, I was told that it would add to my $644 full coverage Monster another $2300 for a total of nearly $3k a year. I questioned how the 899 could be such an expensive bike to insure and they said that it was a high tiered bike in comparison and was designated as a category sport 5. I argued that it was an error and after some back and forth phone calls, they finally agreed to contact the department that reviews the category of the bike.

Since I have my cars and bikes already covered by them, it goes without saying that I would prefer that they alter the cost of my policy rather than having to shop for coverage.
 

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Discussion Starter · #15 · (Edited)
Yeah, I can see this. When I talked to a couple agents, the state farm person didn't even have it in their database. And my Allstate person had to call me back after I gave him the bike name;
He came back with 1400. I was like "are you sure you got the right bike? "
"yeh, what is that? One of them race bikes? Sport bike?
Me: "yeah"
Allstate " yeah, I think its cause of how fast the go. Does it go really fast?"
Me: "yeah, as fast as any other bike"
Allstate: " yeah, I think it's cause the go really fast. They go 150 mph right?"
Me: " yeah sure... any bike can do that"
Allstate: " yeh, I think that's Allstate's way of saying they don't want to insure the bike"
Me: " are you sure you have the 899? Cause the 1199 is like 10 grand more.."
Allstate: " yeah I got it...899"

All of the limits and deductibles matched what I have on my cars, which is modestly high. Some places won't let you have some levels differ between vehicles. But my rep didn't seem interested in working with me on it at all. He didn't offer to change any levels or deductibles at all. I wouldn't be surprised if they had some misinformation on the bike.

Definitely let us know what you find out.
 

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Just for the record, I thought if you financed a bike you needed full coverage, but that is incorrect.

I just bought a 2015 899 and financed it through Yamaha under no insurance. So I was not required to show any proof of insurance
 

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Where are you located and do you have full coverage?

I wouldn't be surprised if they didn't look up your SSN if in the US and trace down your insurance somehow. Most policies will allow you to continue coverage for another purchase, but you will soon get a nasty letter from the finance company if you don't submit a new policy for the bike.

There is no way they will let you total a $15k sportbike without having any recourse.
 
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