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Discussion Starter · #1 ·
this isn't a question about who to use, so much as a coverage question. I have an 87 honda shadow. i have solid health insurance and life insurance. with an 87, should I do full coverage, which will attempt to replace everything or total my bike (LORD forbid something happens), or should I go liability only? I'm not worried about cost, so much as I am wanting to be realistic and wise. thanks to all

john


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How much do you think your bike is worth, or would you get if it was totalled? How much is full coverage versus liability only? How much is your deductible? And what probability would you put to needing to pull the insurance trigger?

If you considered all the above, I think your answer is pretty clear. With an older machine, it often is just a personal preference if you can afford the policy.
 

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Just remember medical insurance doesn't cover pain and suffering or lost wages you should have underinsured and uninsured on your policy.


Most people carry the minimum liability and I can assure you that is not enough for the helicopter ride.
 

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Assuming that you could even get an insurance company to write a full coverage policy on a 28 year old motorcycle, that's worth (maybe) $1500. Why?

I would consider your motorcycle....disposable.
 

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this isn't a question about who to use, so much as a coverage question. I have an 87 honda shadow. i have solid health insurance and life insurance. with an 87, should I do full coverage, which will attempt to replace everything or total my bike (LORD forbid something happens), or should I go liability only? I'm not worried about cost, so much as I am wanting to be realistic and wise. thanks to all

john


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in a nutshell, cover the Bike for what it's worth and your Liability for what YOU are worth.
 

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Assuming that you could even get an insurance company to write a full coverage policy on a 28 year old motorcycle, that's worth (maybe) $1500. Why?

I would consider your motorcycle....disposable.
This. The older the bike, the more expensive some of the hard to get parts can be. The right cosmetic damage could total the bike. Anything beyond what you could repair yourself, maybe do without a broken part here and there....disposable.
 

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This. The older the bike, the more expensive some of the hard to get parts can be. The right cosmetic damage could total the bike. Anything beyond what you could repair yourself, maybe do without a broken part here and there....disposable.

at that point i would become "self-insured" for the Bike and have liability only,
maybe medical too to the amount of my Max out-of-pocket on my personal medical insurance.
 

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I bought a 4 year old motorcycle with only 85 original miles.
I kept full coverage for the 3 years before my accident.
I received "fair market value" of a 7 year old cycle.
Auto insurance paid the first $5,000 of my medical bills.
My health insurance from work paid the remaining $100,000 and some.
When I attempted to submit the claims for my over $500 in clothes and gear, I was told that I would have to file against my homeowners policy because it was personal property.
My current bike only has liability coverage - a good responsible amount, not minimum.
 

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Dang Tengle, that's a hell of a fracture on your leg. Glad that was all that happened to you, other than bumps and bruises. Glad you're ok.
 

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Discussion Starter · #11 ·
based on kbb, even in excellent condition (which it isn't in) it's worth 2500. might guess would be closer to 1k or 1500 at most, in its current condition. if i'm reading all these posts right, I need to get liability only, which would cover the other party involved, should i be the one at fault, also making sure I have underinsured\uninsured on there. the difference in full coverage for me vs liability (using progressive via usaa) is 13 a month (full) vs $75 a year (two payments w/liability). and I have personal liability protection in the event that I'm sued, as well as life insurance (again, LORD forbid). so, it sound like because of the age and availability of parts, as well as accessibility of them, that I may be better of getting liability only. or am I just reading all these posts wrong?

thanks to all


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when your premium is 10% of cost of your bike drop comprehensive.
I got progressive insurance and noticed that you have to play with the values of the insurance quote, getting more for less.

Liab to others:

Body injury liab 250k/500k
& property 100k - $21

personal injury protection - (your choice)
unsur/under bodily injury - (your choice)
unsur prop damage - (your choice)


med payments $2500 - $21
comprehensive Deduct $100 - $9
collision deduct $100 - 57
accessory coverage $3000 - included
total for 2005 VLX600 value $3000 bike = $108.00
 

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What the hell insurance do you have that costs $108/month? My premium went from $165 for the Shadow to $364 for the Fury per year, mainly due to the uniqueness. My health insurance covers me and a passenger so i only have $25k/50k.

OP, i just quoted with GEICO and for $180/yr +/- you can get full coverage.
 

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What the hell insurance do you have that costs $108/month? My premium went from $165 for the Shadow to $364 for the Fury per year, mainly due to the uniqueness. My health insurance covers me and a passenger so i only have $25k/50k.
What good will $25,000/$50,000 do you if you cause an accident and take out a $75,000 Mercedes, Jaguar, BMW, etc...

BTW, I'm paying $90/yr for full coverage with $100,000/$300,000 coverage limits.
 

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I have no intent in ever wrecking.
 

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Like has been mentioned.. Make sure you have insurance enough to protect yourself against those who don't have the ability to pay your medical and your time off work, and insure the bike for what it's worth..

The rest is a gamble.. IF you cause an accident, carrying minimum liability can be a real:

 

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Insurance is different from state too state depending on state insurance laws. I would suggest you get 3 quotes from different underwriters and then decide based on that information.
 

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I have no intent in ever wrecking.
Me neither.. But then the streets are regularly littered with those of like mindset..

We see members on this forum who go down - some of them real hard.. They have real skill and ability, they can ride, and none of them expected to hit the dirt..

It just happens on occasion.. Yesterday - Mark Davidson - sand in a corner.. There's no magic to prevent washing out from that..

Big Poppa.. Deer Jumped out in front of him.. TEngle same thing.. A Deer Strike Nearly happened to me.. Was almost cleared up by a Big Ol' Razorback running out in the road from tall grass one time, too..

It's one thing to have confidence in your abilities as a rider, but planning a future on overconfidence is a gamble only an individual can choose to make; because not a single person who goes down planned or intended to..

I have had some close calls.. For that reason I have maxed out insurance.. Life, death, medical, wages, accessories.. uninsured, under-insured, high liability in case of mechanical failure (or) I wash out in a corner on ice or sand and hit a pedestrian..

You don't dwell on the bad.. But, for me, personally.. I do like to have a plan in case the bad should ever happen.

I don't worry about anything other than riding when on my bike.. I have insurance for all the bad.. Except that "one" thing.. But.. If I should go out while riding on two wheels.. That's not the worse way to go, and my family is protected, so I don't worry about that so-much either :D

At the end of the day insurance is just peace of mind.. I have that.. Up to all else - personally - how much they can live with.

But, I, personally, wouldn't buy insurance based on not planning to wreck. Because nobody plans to wreck.
 

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Discussion Starter · #19 ·
thanks to all for the advice and such. definitely wasn't trying to create a stir, so apologies for doing that. i still have work to be done on the bike before i'll ride it (even though it runs, it needs work), but i wanted to get opinions. thanks to all.

j


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John
 
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