I was wondering what some of you guys are paying for insurance consisting of liability and comprehensive. I just finished school and was thinking of including theft in my insurance policy since I can afford it now. I just don't know if it would pay off because my bike has a little over 50K and if it was to be stolen or destroyed (fire or some act of god)... I'm thinking that I would only get $1200 to $1500 for the loss. Here is what I have going on:
- I only have a pipe (TB) on it so my mods are minimal.
- no tickets.
- comprehensive only
- single
- singe vehicle policy

Progressive quoted my at $525 a year for liability and comprehensive ( w/ $1000 deductable). I excluded medical and collision. My thoughts are that I would actually loose money in the long run because if I pay them the extra money for comprehensive, I will have spent way more for the coverage than what I would get in return from a claim. If I am paying a $1000 deductable and I get back $500, I'm thinking the extra coverage just isn't worth paying for. Any thoughts?

 

We priced quite a few insurance companies. GEICO was by far the least expensive. We pay on average $175 per bike with a $500 deductable. I'm fairly certain thats the annual expense, but I'll have to confirm. That's for Comprehensive and Liability. We were on a overnight trip to Tampa (275 miles away) and my wifes bike got stolen. 4 days later the bike was recovered by the Hillsborough County Sheriffs Office at 2AM. We found out at 7AM when we woke up. I talked to GEICO at about 8:30 or 9, and by 7:30 that night the bike was back in my driveway! Yea, WOW that's what I said. Also, it was no cost to me. They covered transporting the bike back to me from Tampa on a Flat Bed truck. As for damages, I still had the deductable, but remember insurance covers labor too. I do all the work myself, so I broke out even. The damage was a scratched tank, all locks destroyed, and the rear fender was chopped. I highly reccomend them as an insurance carrier .

 

dam...thats quite the insurance company you have there! Do you have full coverage idodirt?

 

Man idodirt, that sounds great!! How many years have you been with them? I've been with Progressive for something like 8 years. I think one thing you have is a multi vehicle policy and that you're married. I would think for someone who is over 30 and a clean record (no accidents or tickets) would be paying something a little more reasonable and still be ablte to get a $500 deductable. I think I'll take a look at GIECO.

 

I did confirm that they're full year amounts. No, not paying full coverage. Collision was going to cost anywhere from $1000 to $1500 per year to cover the bike in case of an accident. I only paid $3000 for each. Not worth it. I make it my responsibility not to get into an accident that is my fault. If it's someone else, then they pay. If they steal it, then comprehensive pays. We've been with them for 2 1/2 years, since I got my 1kF.

 

Right now i'm paying $338 per year with progressive, that's just liability, with $50/$100/$25 coverage. I'm hoping in 2 months when I turn 25 it'll drop enough to where I can add comprehensive and maybe uninsured. Should go down even more a year from now when my wreck and one speeding ticket hits the 3 year mark.

 

im payin $392 every 6 months full coverage im with state farm

 

i was paying 1200 a year for full coverage from progressive

 

I guess paying $200 for just the bare minimum coverage isn't all that bad. Besides driving history and credit rating, the zip code you live in also effects the premium.

 

I'm at $1200 a year with Bike Line. Everything except UM and collision. But I'm only 18 and have one accident on record.