Topic: Are you insurance broke?

[8 Track]

Tom, very funny.  I got my dui in jan '96; all I remember is $2000 a year.  Currently my bike is insured through Progressive and everything else is through Ohio Casuality.  I go through an agent who shops around for the best price.  Dave, do I understand you correctly?  If you have three cb's and they're $200 a piece for a total of $600 and you go out and buy 10 more, you'll only pay that same $600?

From what I've read so far, we all pay about the same (Washington state excluded!) so I guess you all are just making the sacrifice necessary to own multiple bikes- pay more insurance.  Maybe I just need a higher paying job.  As you all know, there exists a joy of growing up and acquiring all kinds of neat stuff and the misery of possibly losing it all in the event of an accident where you get sued.  Enter more insurance.

Another thing I do (I think it's overkill) is per my agent's suggestion, I carry higher coverage than the state minimum requires.  She tells me that it will protect me better in the event I get sued by someone I'm in an accident with, since I'm a homeowner and I have a lot of assets.

More comments please?

[8 Track]

My personal cut-off point for rationalizing the expense of comprehensive coverage is about $4000.

Good idea, but you mean collision, right?  Comprehensive (as we call it in Ohio) is VERY inexpensive.  I carry it through the winter on my '94 Impala SS while it sits in the garage all winter.  Costs me $28.  Some states won't let you pull that stunt.

[8 Track]

Good choice...which generation though?

A brand new red white and blue one!


The gear drive of the older ones is too much noise for me.  It's like a Pete Jackson gear drive!

[Dave K]

Yes, you read it right. I was surprised and I even asked my agent why. Actually there were a few bikes that I didn't ride but once a year because of the insurrance I had neglected to ask about. When he told me that, I had every bike on the plan and rode at will.

[8 Track]

MSF rider's course is worthy in and of itself; but not everyone will give you a discount for it.

I'll take it just in case there's a tidbit of information that will save my life.  I started on dirt bikes and I learned a lot of stuff the hard way, going slower and on that soft muddy ground!

[8 Track]

Dave, you just gave me another lever against my wife for my quest for more bikes!  Thank you!

[8 Track]

Nationwide offers pretty good rates if they offer it in your area

I'll check it out.

[8 Track]

...and even your credit report. 

My beacon score is a few points away from perfect.

[HITMAN]

Country Co. insures all my wheels, what I do is add one (or more) of my bikes when I want to ride them.  Then cancel them when not, keeps things all in check and it helps when you make good friends with your agent.  You can check to see if they will allow you to do that, most of them are pretty understanding if you explain your situation to them as they don't normally expect people to insure multiple bike and they may have options for that.

If I spend a lot of money fixing up an older bike like my 550, I will have it appraised to protect my investment.

[Gordon]

My personal cut-off point for rationalizing the expense of comprehensive coverage is about $4000.

Good idea, but you mean collision, right?  Comprehensive (as we call it in Ohio) is VERY inexpensive.  I carry it through the winter on my '94 Impala SS while it sits in the garage all winter.  Costs me $28.  Some states won't let you pull that stunt.

Sorry 'bout that.  Yes, collision is what I meant, thanks!

[ieism]

Why is it so expensive in the US for these old bikes. I pay $32 a year for my 550 in The Netherlands. This is a special "oldtimer insurance" you're not allowed to drive more than 10.000 miles a year or something. Shouldn't be a problem if you have 7 bikes though.

[ofreen]

I paid $290 this year for liability insurance on three bikes, a CBR1000F, R100GS-PD, and my old 750F.  This is with Progressive.  For some reason, the premium was $25 higher for the 750 than it was for the GS.  I called them up to ask why, but the individual I talked with was unable to provide a logical answer.  Progressive gives me a 5% good driver discount, and 5% each for the MSF course and multiple bikes. 

[heffay]

Why is it so expensive in the US for these old bikes. I pay $32 a year for my 550 in The Netherlands. This is a special "oldtimer insurance" you're not allowed to drive more than 10.000 miles a year or something. Shouldn't be a problem if you have 7 bikes though.

i don't think it is terribly expensive.  my cb350 w/ liability only costs me 8 dollars per month... the zx7r is what costs me because i put full coverage on it before our baja trip (actually ended up being a vegas trip but, whatever) and i haven't taken it off because it is not even that pricey.  i pay 29 dollars per month for both bikes. 

now, you also have to remember that my dad is and has been w/ state farm for 30+ years now so that may make a difference.  (i'm on his policy if you'll remember from my earlier post.)  but, he's not been happy w/ them so, we're switching.