ANIMALEONE
Registered
on the new credit financing by suzuki, do u need full coverage, or just liability? i have heard that if its under 10,000 financed, u only need liability..true?
thank you
thank you
question on financing
- Thread starter ANIMALEONE
- Start date
ANIMALEONE
Registered
even if you wreck a bike, and collect on insurance in jersey.. good luck trying to get coverage on another bike, its not going to happen....
if it does, youd be paying more in two years than the bike is probably worth. and since the insurance for me is 2300 for the year.. 200 sounds much better
There are other types of accidents to consider that are not your fault
No insurance or underinsured motorist.
You hitting a deer.( Ask Kento-moto about that)
Your bike getting ripped off
Fire.
Knocked over in a parking lot.
To many variables if you ask me not to be insured properly.
ANIMALEONE
Registered
No insurance or underinsured motorist.<-- its the law to have insurance in NJ
You hitting a deer.( Ask Kento-moto about that)<-- crashing the bike..the insurance will pay, but you'll never get insurance again on a bike, or itll sky rocket to where its not worth it
Your bike getting ripped off <-- lojack
Fire. <-- again.. insurance has to cover in full, and will not insure again probably..
Knocked over in a parking lot. <-- why put an insurance claim for that when my 2300 yearly bill will probably rise to 3200
To many variables if you ask me not to be insured properly.
.. in my opinion its not worth it with 2300 yearly bill for it..
Like everyone follows the law.
A friend of mine was taken out by a person with no insurance and was seriously injured.
If he didn't have a high limit insurance policy( which picked up the tab for the hospital bills over 300K he would have been on the hook for them.
In Vt I have full insurance with a 500 K limits for 409 a year.
Each to there own though, and safe riding.
A friend of mine was taken out by a person with no insurance and was seriously injured.
If he didn't have a high limit insurance policy( which picked up the tab for the hospital bills over 300K he would have been on the hook for them.
In Vt I have full insurance with a 500 K limits for 409 a year.
Each to there own though, and safe riding.
If the bike is collateral on the loan, full coverage is required by virtually all lenders.
If you say use a credit card or other unsecured credit line (you simply ask your lender for the money and they just hand it over) then full coverage is not needed. I was told the Suzuki credit line is a "nonsecured" line of credit (but it is pricey) so no full coverage would be needed if that is the case.
Personally I would think twice about purchasing a bike like this without full coverage.. If stolen, wrecked or anything else happens, you are just "out" the money...
Cost of insurance is very dependent on your age and record.. Many here have State Farm insurance as I do. I pay $240 per year for full coverage. Silly not to have it IMO..
If you say use a credit card or other unsecured credit line (you simply ask your lender for the money and they just hand it over) then full coverage is not needed. I was told the Suzuki credit line is a "nonsecured" line of credit (but it is pricey) so no full coverage would be needed if that is the case.
Personally I would think twice about purchasing a bike like this without full coverage.. If stolen, wrecked or anything else happens, you are just "out" the money...
Cost of insurance is very dependent on your age and record.. Many here have State Farm insurance as I do. I pay $240 per year for full coverage. Silly not to have it IMO..
ANIMALEONE
Registered
I see your point.. but I hope you see mine too. full cov. for me is not worth it..having sick benefits from work, along with aflac.. so not worried about the medical aspect.. but i do feel for your friend that got in that sh*tty situation..
edubb1971
Registered
ANIMALEONE
Registered
i appreciate everyones comments and will take everything into consideration..
again thanks
again thanks
Some dealers have let that slide.
Bad idea if you ask me. Find a good rate, you never know. You may need it.
dangerous dave
Registered
even at my age (old) they want a couple thousand a year for full coverage. I dont have any points against me either
I pay aprox .700 a year for liability ,theft, fire and uninsured motorist . If I wreak and my fault the bill is on me.
I owe money on my bike and nobody has ever told me I needed full coverage.
I dont think they could sell bikes around here if full coverage was reqired .
I pay aprox .700 a year for liability ,theft, fire and uninsured motorist . If I wreak and my fault the bill is on me.
I owe money on my bike and nobody has ever told me I needed full coverage.
I dont think they could sell bikes around here if full coverage was reqired .
it all depends on the loan... if the bike is the collateral, the lender is going to require full coverage.. just the way it is...
you must not be that old for those kind of rates... the absolute highest quote I had for full coverage was $995 and SF was the $238 per year for full coverage..
I checked on the Suzuki loans and they are a revolving charge account... the interest rate is awful but the loan is only secured by your credit... what that means is that you would not be required to have the full coverage insurance... They are meant to supplement a healthy down payment so that a rider can buy the bike and is actually designed to get around the insurance problems many have...
I guess it is legal but not very smart on the purchasers side IMO...
adm.nelson
Registered
I get my 'full coverage' for about $170 every 6 months. Better to have that, even on a bike that is paid off. I had full on my previous bike, a 1994 VFR750, until I sold it a few months ago. On a note about Suzuki financing, I was a bit upset that they started charging me a finance charge from the day I signed the papers, most credit cards allow you a months grace in case you want to pay it off, which I did, with another CC I have with 0% interest for 17 months, 9.9 after that. In short, better to have full coverage.
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