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Discussion Starter · #1 ·
I haven't gotten a bike yet, but I'm in the market for 250-500cc bike to start me off, but I am unsure about the amount of insurance I should get. I don't want to just get liability, but I don't want to go super-over-the-top-crazy and break the bank. I'll be riding in town(small town with less than 10,000 people) on mostly joy rides for fun and will never be on any highways or interstates atleast not for a year or so and won't ever carry a passenger.

Anyway, I just want to know whether I should get underinsured motorist coverage, medical payments, total loss replacement or actual cash value. Any suggestions or comments will be very helpful and I'll keep a close eye on this post.

Thanks a bunch,

Patrick
 

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2007 Yamaha Road Star Silverado 1700
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You should get at least $100,000/$300,000 bodily injury, underinsured, and uninsured coverage. The latter two are really the most important, but you have to at least get that much with standard bodily injury. UM and UIM will cover you if someone else causes a wreck and they either do not have insurance or do not have enough coverage to cover your medical bills. Medical payments IMO are pretty useless.

Comprehensive/collision insurance should really only be gotten if you are buying new. It will just be a waste of money on a used bike, and will likely double your insurance premium with even the highest deductible. I personally would save comprehensive coverage for expensive bikes (i.e. $10,000+).
 

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I haven't gotten a bike yet, but I'm in the market for 250-500cc bike to start me off, but I am unsure about the amount of insurance I should get. I don't want to just get liability, but I don't want to go super-over-the-top-crazy and break the bank. I'll be riding in town(small town with less than 10,000 people) on mostly joy rides for fun and will never be on any highways or interstates atleast not for a year or so and won't ever carry a passenger.

Anyway, I just want to know whether I should get underinsured motorist coverage, medical payments, total loss replacement or actual cash value. Any suggestions or comments will be very helpful and I'll keep a close eye on this post.

Thanks a bunch,

Patrick
Good question. When I got my first bike they guy I bought it from was telling me how cheap his insurance was ....like $150/year...but that is for very limited insurance. I did some homework and found that insurance companies want to insure you at the same rate as you have on your vehicle...like the 100000/300000 (like primalmu said) but the only insurance company I found in my area to provide medpay was Progressive. That insures that if you are injured due to a deer or any reason that you caused the accident, you have medical coverage. There is a big debate going on right now about insurance companies (your coverage at work) not wanting to cover you for an off road vehicle or motorcycle injury. Due to the big $$$ cost of care. Medpay has money set aside for you to pay for your injuries if they occurred due to "your fault" (even though it may have been a deer, dog, roadkill...)

Do a little homework and call for prices at your local agents and ask them about medpay and "if this occurred how well would I be covered?"

I wrote some questions down then called everyone and wrote their answers, looked for the best deal...I believe in being insured....then debated about all the quotes....

Good luck to you!
 

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Discussion Starter · #5 ·
Thanks for the info. Suppose, I'll be calling insurers about 100/300 bodily injury and underinsured with 5,000 in medical payments quotes. I will be buying used so you're very right about not wasting money on collision an comprehensive.

Thanks again

Patrick
 

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2007 Yamaha Road Star Silverado 1700
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I forgot to mention, good coverage doesn't have to be expensive. Through SafeCo I pay $277/year on my Katana 600 for $100k/$300k bodily injury, UM, and UIM coverage. I'm 23 and have been riding for just over a year.

The reason I think medical payments are useless is that they only cover such a small amount. $5000 would probably only cover the ambulance ride and placing an IV catheter with the cost of health care right now.
 

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I forgot to mention, good coverage doesn't have to be expensive. Through SafeCo I pay $277/year on my Katana 600 for $100k/$300k bodily injury, UM, and UIM coverage. I'm 23 and have been riding for just over a year.

The reason I think medical payments are useless is that they only cover such a small amount. $5000 would probably only cover the ambulance ride and placing an IV catheter with the cost of health care right now.
I just look at this way....that is $5,000 that my insurance is not picking up or that I am paying out of my pocket.
 

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if you've got health insurance that would cover it, don't bother with it... i'm still covered under my parents' plan, and i have state minimum liability on my bike.

i looked at collision, and because my bike is a "sporty" bike, it would have quintupled my insurance premium. comprehensive (non-collision) was cheap, but worthless, because the deductible would have covered all "non-collision" damage short of a tornado picking my bike up.
 

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If you can, get no-fault med insurance.
I paid an extra $3.00 a month for it.

My x-rays, brace, and doc visit would have run me $700+.
It cost me nothing. Additionally, it doesn't flag as a normal claim
so my insurance did not go up from my little drop.

I paid about $20 into my no fault, and it paid out $700ish.
yes, I'm very glad my agent threw it on there on a whim.

As for the rest of it, remember this:

Insurance is a transfer of risk. The more risk the insurance company takes, the more you will pay.
The more risk YOU take, the less you pay.

It's about risk management. I have a $1000 emergency fund,
so a $250 or even $500 deductible is acceptable to me. It's a risk I can afford--I can cover the deductible instantly.

If I was living month to month, I may want to scrap together
more for a $100, or even a $0 deductible, because I have nothing on hand to cover a deductible with.

Whatever you get, whatever the case, make sure you can always cover your deductible.
And from personal experience, I like lower deducts and more coverage, but that's just me.
 

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It depends on what you are looking for in an insurance. Due to the different kind of insurances you will find different price tags. I have been looking around for some time and found a good price with the things I was looking for in my insurance. Found it on a comparison site and then I searched for a quick way to get my apply for the insurance. I will leave the link of it behind here so that you can check it if. https://loanstreet.com.my/insurance/motorcycle-insurance

Good luck!
 

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This site requires you introduce yourself as one of your first few posts so people know you are serious and not a hit and run type poster. Introductions found here ... https://www.motorcycleforum.com/forums/new-member-introductions.305/
My advice is to get the most underinsured/uninsured coverage you can afford to get. You can use this underinsured/uninsured coverage calculator to determine the amount of coverage you need to cover your expenses if you're unable to work for a few months and the amount you want if you include money for your pain and suffering. The amounts given include a 1/3 legal fee which is the fee in many states. Some states are 40%.
 
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