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Discussion Starter #1
what is your input? Is it worth going to for full coverage? I have full coverage now and im thinking of switching to liability.

- Bike is kept in a garage
- most likely damages up to $1500 i would pay for myself because i wouldnt want my insurance to go up

- Full coverage runs me about $1100 / year while just liability would be $179 per year

i need your advice, pluses and minuses

thanks

Luke
 
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HighLineCBR,
You are on the wrong coverage then if you are paying $1100 in NJ. I am in NJ and paying $822/yr full coverage. You have to switch your coverage to Rider Insurance Agency. They are by far the best agency in NJ with the best rates. If you are interested, PM me and I can send you contact information.

But for your arguement about liability vs. full coverage, it comes down to: how much can you afford to lose IF something happens? You may have full coverage for 20 yrs with no significant accidents, however, the day you drop to liability, you could be in a bad wreck. There will be some serious bills to pay if the unfortunate does happen. So, how much can you afford to pay? Is it worth not paying $70/month for the full coverage? IMO, :nono:

Here's an option that I was going to do with my F4i since it was paid off (cant do it with the RR since it is Honda financed). Well, first get Rider Insurance. Second, when the off season comes, which is about four months, switch to liabilty since it will be in storage anyway. When the season comes back around switch it back to Full coverage.
 

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highlineCBR... try upping your deductable to $1500-$2000. You said you would be willing to pay upto $1,500 in damage. If you raise your deductable, then you premium will drop but not a whole lot.

-pharaoh
 

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Also another thing you guys have to account for. I don't think you can get theft added to just liability. You need to have collision and theft . So if you just get liability and your bike gets stolen, thats a lot of dough you losing.

I personally am dealing with the same option now. What I am goign to do and I suggest you do the same is... go for FULL and take off insurance on the months you are not riding. I ride probably only 6 months out of the year, so my insurance will be half of what is quoted to me.

Also if you decide to go with liability, get an alarm and a good lock! :mrgreen:
 

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I never get full coverage for a few reasons which are: I'm in the Military and get free medical, I have tickets and can't afford full coverage, I live in a very low crime area ( more cows than people ). and if I wreck it, and claim it I probably won't be able to afford any insurance ever again because your car insurance will also go up also. I have two cars and two bikes, all four insurance rates would go up which equals out to too much damn money. If I total my bike it probably means that I'm twmporarily if not permanently totaled as well and will have some time to rethink buying a new bike and also for saving up money for the next one.
 

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There are three components to insurance. Liability-covers other persons vehicle. Comprehensive-Theft or acts of god and Collision-covers your vehicle. Considering I am still fairly new to riding, I prefer to keep the Collision coverage, on my car though I dropped the Collision, but kept comprehensive so I'm covered against theft and liability so I'm not breaking the law. Dropping Collision cut what I pay yearly in half. If you are not too worried about wrecking the bike, then I say drop the Collision it tends to be half if not more of what you pay for insurance.
 

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I think you should just go with Riders if you are in NJ. I got my wifey's Ninja 250 and my RR thru them. RR's are, well lets just say that if you are not careful, they tend to disappear and for that, I have full. If someone carries it away, I can just get a new one in 30 days.

Rippey
 

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Discussion Starter #15
Well i think you guys convinced me. I will stay with full coverage. By the way I do have Rider insurance. The only thing is that where i live, Bayonne, along with other towns has been marked as a high theft area, this happened just this year, that is the reason for the insurance being higher than for other NJ residents. I think its a bunch of bull. I have 3 family members who are Cops and they said that they have not seen or heard about a bike being stolen here in more than 5 years. I will consider switching to liability in the off-season like CorleoneRR, suggested. I hope that is possible with Rider.

thanks for your input

luke
 

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will insurance cover any trackday damage? for those of you that have track only bikes, what kind of coverage do you have?
That depends. If you are racing or at a race practice........NO, but they may cover the bike if you crash on a track but the track day was something like a motorcycle safety corse.
 

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dude, its about piece of mind.
I too was debating between the two, pre-bike purchase. When it came down to it, I didnt wanna risk it/anything with this being my first big purchase. $1100/yr is less then mine and I think whatever im paying is definatly worth it, to me anyways. imho
 
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