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Discussion Starter #1
Hello,

Rider in Michigan, old fart, clean record, just like to take my time going from A to B throughout Michigan on nice sunny days using country roads.

Kinda confused about the options for insurance. Asking for your opinion on what to have and what to "not-have-so-much-of-so-I-have-a-decent-rate."

Thank you for your input.

Mike
 

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I think a lot of it depends on your personal finances, job situation, whether or not you have health insurance, etc.

I recently wrecked my bike and was injured. I will have a full recovery, but l am out of work for 3-6 months with a serious shoulder injury.

I insured the bike heavily for uninsured motorist. That was my number one thing. If l get hit by someone who ruins my life, l wanted to make sure l was covered and my family wouldn't suffer for it.

I also insured for liability, collision, comprehensive, all the basic stuff.

I did not insure it for medical coverage. If l recall, it was kind of expensive, like $50 or $60 per month. I have a good job at a hospital, with good health insurance and short term disability, so l wasn't really worried about that aspect. In the end, l have had to pay a little over $1000 in doctor bills, so the medical insurance would have been a better choice, since l crashed after only a year back on the bike. However, 2 years was the break even point on the medical insurance, so that was a risk l took.

FWIW, l used Progressive insurance and they were great to deal with. My bike was an older bike, with body parts that were unavailable through Yamaha, so they immediately totaled it, and the buyback price on it was very low. If l ever ride again, l will definitely use them again.
 

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2007 Yamaha Road Star Silverado 1700
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IMO, as well as many others here on the forum, the uninsured/underinsured coverage is your most important coverage for a motorcycle. That will cover medical bills for any bodily harm you may get as a result of an uninsured or underinsured driver hitting you. I personally go for $100,000/$300,000 coverage, but more is always better. I don't have full coverage on either of my bikes.
 

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My "rates" were not all that high when I had an older bike, and it was "bought-n-paid-for." But just like a cage (car/truck) if you have bought something with a Loan, THEY will require coverages that are a bit more expensive. They will give you options for deductibles of course. Get what you can afford, and also "what you have to."

On the other hand, since there is an inherently higher probability that you will get more seriously injured on a motorcycle (whether your fault or not), and the injuries you could potentially sustain could have a significant impact on your career and the lives of those you love (spouse, kids), you'd probably want to spend the most you possibly could, to reduce the deductible, and have the best coverage you can find.

If you live alone, and your potential death or dismemberment will only have an impact on you.............bare minimum coverage is fine, I suppose.

Another Insurance option that seems reasonable, depending on how many months of the year you will be realistically "riding," is partial-year coverage for the riding season only. Especially if you have home-owners Insurance already, which would cover damage to your bike in storage, on your property.
"I" need to talk with my Agent about that, myself!!

-Soupy
 

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Discussion Starter #5
You folks are great!

Thank you for all the sound advice!

hawkaholic37: Thank you for sharing such useful (and personal) information. Nothing is better than a real life example painted with a fine brush.

primalmu: Your suggestion is taken to heart. Thank YOU!

soupy1957: Sage wisdom, offered freely, ...... Thank YOU!

Mike
 

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Comprehensive coverage is very inexpensive, and covers you for theft or fire or damage due to natural disasters. I think its foolish to forego that coverage. However, I am not sure if you can get comprehensive without also getting collision. Personally I would never be without collision coverage unless I was riding a really old bike with little real value. The one time I had an accident, a one vehicle mishap, the collision coverage paid me the full market value of my bike less my $500 deductible. I also would not be without decent liability (at least $100,00/$300,000 and uninsured motorist coverage. Its just too risky to be uncovered.
 

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Discussion Starter #7
Thank you Vito!

Looks like I have taken all the suggestions so far.

I reckon about $420 a year for good full coverage is about what I'm looking at.

Thank you all very much!

Mike
 
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