Full Coverage or not..

Full Coverage or not.. - how cocky are you?

  • I ain't that brave, it's fully insured.

    Votes: 166 100.0%
  • Ain't nuttin gonna happen that I can repair.

    Votes: 0 0.0%
  • would like to fully insure it, just can't afford too.

    Votes: 0 0.0%
  • other

    Votes: 0 0.0%

  • Total voters
    166
Status
Not open for further replies.

pure_ego

enzyme of hypoverbage
Donating Member
Registered
just curious after I looked at how many kept their busa's paid for.
 
aint nothin gonna happen that I cant repair. only, repair costs money and LOTS of time in some cases...... sad.gif
 
I rolled outta the showroom w/ just liability. Unfortunatly in NJ there is one insurance company that deals with motorcycles. They offer only full coverage or liability w/ nada in between. 1,600 hunj for full and 158 a year for liability. That is ALL they offer. State Farm pulled out of NJ a few years ago.

I have a few issues w/ insurance companys as many people do. I have never made a claim, I always pay on time, and I have never had any points (knock on wood). All I've ever gotten were insurance cards and reciepts for all the money I have paid.

If I wreck my Busa and it is my stupid fault, I deserve to pay outta pocket. If someone hits me it's covered. Which only leaves the theft issue that I am very afraid off. I am almost considering switching to full coverage just for this,but get this: my insurance co. will ONLY pay the book value of the bike, which is around 8-9k. I have over 20k invested. I don't feel to bad. A friend owns a Ducati ST900, the same insurance co. implies a surcharge of 2,000 bucks, just cause it a exotic sportbike. Needless to say he's rollin' w/ just liability.
 
Fully insured $250 Deductable. Hell someone spits on it I get a new Fairing...
 
More worried about theft than anything else....but it is a sense of relief knowing that it is fully covered.....hell these bikes are worth more than most peoples cars....

Had a bike stolen b4 w/o full coverage, got it back but had about $900 worth of damage to get it back to cormal and it was just a $2999 bike.....(wife's 250 Ninja)
 
Full...About $660 yr...$100 deduct...I can't afford to replace it if stolen or for major damage doe to a wreck... evil.gif
 
Fully insured because it's financed through my Credit Union. But I would carry full on it anyway.

State Farm, $612 /year being 30 with 3 tickets....
 
I'm very surprised at some of your answers boys.

I'll explain :  Now if you are financing your bike or it's a full custom worth $20K or more then this doesnt apply but most of our busa's have a value of $10K or under and to insure an item where you pay aprox 1/10 or more of the cost of a newbike,  per year, is outrageous! It's like paying $3500 per year for most of your suv's out there.  I have comprehensive for fire, theft and vandalism only. Company is progressive and price is under $250 per year. I was quoted aprox $1500.00 per year for full coverage. I have ridden my busa for allmost 4 years without a claim. Had I fully insured her I would have spent approx $6K by now on a bike that has a market value of about $7000.00  Insurance is a funny thing you have to know when you should turn to self insure. With insurance you are essentialy betting your going to have a claim and the insurance co. is betting you arent and if you do your rates will probly go up on top of that. If you were to take the extra $1000+ per year and invest it you would maybe have enough to buy a new bike in a few years.

With my busa I felt "smart money" was to self insure and the only way to go, I also knew that it is a popular bike to steal so i went with theft coverage and they thru in fire protection. I also felt if I was unlucky to be hit by someone else most other insurances would cover my bike and if I was stupid enough to crash from my own stupidity ( which happened back in Sept ... sad.gif  ) then I would have to eat it.

So from a strictly $ vs. averages viewpoint most any vehicle worth under  $10K is not worth having comprhensive / collision / full coverage.

... my 2 cents and then some. biggrin.gif

ps. I am talking busa coverage only, I have a ton of "other" ins. Health $440 per month, life $1mil, home owners, auto, biz, umbrella ... it goes on and on ... I feel ins. poor sad.gif



<!--EDIT|Hawaiibusa
Reason for Edit: None given...|1104099970 -->

sad.gif
 
The main reason I carry insurance on mine is for the medical portion of it. Health insurance from an employer is a fighting battle at every corner. I have found that with insurance claims with State Farm, I just report the incident, and they take if from there. I have had nothing but good experiences with them. I've been insured with them since 1984 through many cars, a couple of bikes and my house. Full Busa coverage with a ton of medical insurance is $380.00, double that and it's $760.00 per year. I think it's worth it.
 
Fully covered for about $500/yr. Not being able to afford the insurance might be an indicator that you should probably pick a less expensive hobby.
 
Status
Not open for further replies.
Back
Top