The Insurance Discussion Thread..

[Anthony]

Insurance is one of those things that you buy, then when you have a challenge you find out exactly what type of coverage you actually paid for. Recently I upgraded bikes which means new Insurance and upon going over my policy I realized even though I had full coverage, I was actually under-insured.


Medical payments: Most insurance carriers, even with full coverage offer NO medical payments to the Rider if the Rider is at fault. So if it's your fault, your Ins will pay for the other driver/ but not you. WTF~

Gear/Accessories: Some carriers offer coverage & some do not.


Some people if they own their bike outright decide to only get liability coverage.



I went to the point of being over insured, I want to know that whether it's my fault or theirs that I am covered to the hilt. It seems ounce you are in the "full coverage" spectrum, for just a little more per year you can have all of your limits increased. I went from 75,50,50 to 200,100,100 for very little expense.


What happens if you sideswipe a BMW & it's your fault?


While some opt for the standard 500.00 deductible, I opted for a 50.00 Comp, & 250.00 Collision deductible which only cost me an additional 37.00 per year. Which means, if I have trouble anytime in the next 8 years, by paying the extra now, I end up saving money in the long run. Think you will be claim free for 8 years??


Some carriers make you pay for non-insured-motorist. Imagine, someone rear ends you, wrecks your bike, your hurt but they don't have INS because they were late on this months payment. Guess what? Your INS wont make you whole if you didn't purchase non-Ins-Motorists.



So now that the season is upon us, We should all spend a few minutes & look at the fine print of our policies. It never hurts to talk to the ins agent and see if things can be tweaked one way or another.

 

[JSP]

Great advice!

 

[MNGreg]

Good advice. You did almost exactly to a t what i did insurance wise.

Medical payments because they leave these to your medical insurance policy. With the medical costs, can you imagine your bike insurance costs if they covered some of your medical bill I'm am incident?

Sent from my Galaxy S3 using Tapatalk 2.

 

[bloodypulp]

Made sure i had uim when i signed up. especially in New Orleans. Every 20ft. theres an orange sticker on a car on the side of the road.

 

[Scott_Thomas]

Insurance is one of those things that you buy, then when you have a challenge you find out exactly what type of coverage you actually paid for. Recently I upgraded bikes which means new Insurance and upon going over my policy I realized even though I had full coverage, I was actually under-insured.


Medical payments: Most insurance carriers, even with full coverage offer NO medical payments to the Rider if the Rider is at fault. So if it's your fault, your Ins will pay for the other driver/ but not you. WTF~

Gear/Accessories: Some carriers offer coverage & some do not.


Some people if they own their bike outright decide to only get liability coverage.



I went to the point of being over insured, I want to know that whether it's my fault or theirs that I am covered to the hilt. It seems ounce you are in the "full coverage" spectrum, for just a little more per year you can have all of your limits increased. I went from 75,50,50 to 200,100,100 for very little expense.


What happens if you sideswipe a BMW & it's your fault?


While some opt for the standard 500.00 deductible, I opted for a 50.00 Comp, & 250.00 Collision deductible which only cost me an additional 37.00 per year. Which means, if I have trouble anytime in the next 8 years, by paying the extra now, I end up saving money in the long run. Think you will be claim free for 8 years??


Some carriers make you pay for non-insured-motorist. Imagine, someone rear ends you, wrecks your bike, your hurt but they don't have INS because they were late on this months payment. Guess what? Your INS wont make you whole if you didn't purchase non-Ins-Motorists.



So now that the season is upon us, We should all spend a few minutes & look at the fine print of our policies. It never hurts to talk to the ins agent and see if things can be tweaked one way or another.

Great advice Anthony!

 

[Schybrid]

i keep higher deductibles on my auto ins, my premium is always alot lower.

im not gonna claim on is anyway if im in a minor bumper damage incident $750 or cheaper, so my deductible is $1000.
and ive saved thousands in the past 10 years

 

[Anthony]

i keep higher deductibles on my auto ins, my premium is always alot lower.

im not gonna claim on is anyway if im in a minor bumper damage incident $750 or cheaper, so my deductible is $1000.
and ive saved thousands in the past 10 years

That means your statistically do for a claim

 

[Schybrid]

That means your statistically do for a claim

not really, i drive defensive as hell.

Im always on the lookout for some "tool", and ive actually waited at lights when green, and the ol typical, bammmmmmm someone comes juicing it thru the red light.

and if it is time, ive got the savings from ins policies past 10yrs to back my deductible.

who in their right mind is gonna make a claim for say $700 damage with a $500 deductible. their premiums will just go higher next year and so on.


Auto insurance is only good for one thing, bad accident that would be say $2000 +.

any time you make a claim, your gonna get raped in long run and end up paying for it yourself anyway.:jerk:

 

[Anthony]

Ok, great points. Glad to know.

Now, this thread is really for motorcycle Ins.


:backtotopic:

 

[Bert-Aus]

Made sure i had uim when i signed up. especially in New Orleans. Every 20ft. theres an orange sticker on a car on the side of the road.

What does the orange sticker mean?

 

[Schybrid]

What does the orange sticker mean?

they sell oranges.

 

[bloodypulp]

It means leave ur car here and walk to ur nearest insurance office, pay up and maybe after u pay a $500 fine, and prove u have liability, u can get ur car back. Till then its road kill.

 

[Ivan_13]

This is the coverage I'm looking at getting. What do you guys think? Any and all advice would be greatly appreciated, since I'm currently riding without insurance, and am desperate to be insured.

 

[kevin8198]

I have been selling insurance for the last 13 years. Just got promoted again to sales supervisor for 17 agents. So if anyone has any questions feel free to ask.

Anthony does have some good points.

Liability: If you think about it liability is normally very inexpensive since it pays for the other person's damages, and if you hit a car on your bike guess who will most likely incur the most damage. :zombie:

Medical: Usually skipped/rejected due to the high cost.

Uninsured/Underinsured Motorist: Very good to have but once again can get expensive. Check your policy too because sometimes the company will exclude hit and run accidents.

Comp/Collision: Get quotes on a few different deductible options. It may be a good point to not claim the accident to keep it off your record. But sometimes this is unavoidable if the police show up and do a report or the other driver get's your info and makes a claim. It could still show up on a Comprehensive Loss Underwriting Exchange (C.L.U.E)

There are so many factors involved in cost that some may be paying extremely more than others.

Biggest factors in cost:

-Zip Code
-Age/years of riding experience
-Driving record (accidents/tickets)
-Married or Single
-Type of Bike (duh, lol)
-Coverage

A tip in case you didn't think about it before:
If you have a lot of coverage including Collision (Full coverage if you will) on during riding season and have to put your bike away for winter season. Take off as much as you can except Comprehensive. That way if the bike is stolen/vandalized or ruined by some act of nature you have coverage and these types of claims do not affect your insurance. Everything else can go to save money since you are not riding.

Now you might be saying "No $H!t Sherlock" to this, but I just thought I'd throw in my two cents in case it does help someone out.

On a side note, I doubt anyone on here is in the category of "high risk driver" or need SR-22. But if you are and need insurance or want to see if you can get a better price, please PM me and I will give you my number. That is my specialty and I can write in 46 different states.