I'm curious if anybody knows how insurance companies determine value of motorcycles? Reason I ask is.. I've finally paid off my motorcycle, which means I am no longer required to keep full coverage insurance. My bike is an '01 929, no I didn't have a 12 yr loan, it was a strategic re-fi move so I didn't lose my bike in a divorce, score 1 for me!!
Anyway, the NADA on my bike is about $2000, but realistically it's worth more than that.

So, am i wasting my $55/mo for full coverage when I can drop it to liability? Chances are one good tip over and inusrance will total it anyway.

Thoughts, constructive comments???

thanks

 

it depends... how much is the bike worth to you? with liability only, if it's stolen, you get nothing...

and what kind of health care do you have? unfortunately, as cool as motorcycling is, we can get seriously messed up on them.


if total piece of mind isn't worth $55/mo to you, then drop it

 

thanks for the thought provoking info conrice...

 

For only 55 a month it's worth the coverage to me, idk what your deduct is but you could raise it to a 1000 if its at 500 or 250, that way you'll save some money and if it gets totaled or stolen you'll have to pay a1000 for the deduct but you'll get 2000 back from the insurance so will work out