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Hey troopers!
Its insurance renew time for me, so as an individual, at what point is collision not worth it?

I have a 2011 650 which blue books for a dealer at like 5700 (not sure what for private sale). Geico quotes me at like 298 for a year with a $1000 deductible.
 

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FORUM GODFATHER.....R.I.P. PAT
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It's an individual choice. If the bike is paid off and you can afford to replace it, consider dropping collision. It's a crap shoot like any other gamble. Otherwise, pay the premium.
 

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This varies greatly, but with some insurance you can only get medical coverage for yourself and your passenger (as well as underinsured/uninsured coverage) if you also get full coverage.

I sometimes tote a passenger on the Vee, so I keep full coverage for that reason, even though my bike isn't worth all that much anymore. The costs aren't all that high, especially if you carry a higher deductible.

And I hope it goes without saying that you should carry far more than the legal minimum liability coverage.
 

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Full coverage is an ambiguous term. It is not definite.
http://www.progressive.com/customer-service/car-insurance-definitions/#PIP

For any insurance, if you can afford the loss, don't buy insurance. For the original question, $1000 deductible seems high...how much more is $500 deductible. It all depends on the individual's financial situation and comfort level. Liability coverage above the state minimum (zero in my state) is smart if you own anything. If you have a moderate or higher net worth, look into umbrella liability coverage. You're probably need $500k liability coverage on each vehicle, then the umbrella takes over in increments of $1mil.

Uninsured motorist medical coverage can be important in some circumstances, but not all. If you have excellent medical insurance, you might be duplicating that with UM. Discuss this with a good agent.
 

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My personal opinion is that when a bike gets, let's say, over 4-5 years old, especially a bike like a wee/vee, almost any accident/incident will total it. Insurance companies always find an easy way out and, let's face it, that's usually to easiest. Blue book may be such and such a value at the dealership but when insurance looks at a bike that's not a 15- 20,000 plus machine it's a write off.

Now medical coverage is a different story but to just cover the bike, it's a wash having full coverage after a certain age...:beatnik:
 

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Full coverage is an ambiguous term. It is not definite.
Car Insurance Terms and Definitions - Progressive Auto Insurance

For any insurance, if you can afford the loss, don't buy insurance. For the original question, $1000 deductible seems high...how much more is $500 deductible. It all depends on the individual's financial situation and comfort level. Liability coverage above the state minimum (zero in my state) is smart if you own anything. If you have a moderate or higher net worth, look into umbrella liability coverage. You're probably need $500k liability coverage on each vehicle, then the umbrella takes over in increments of $1mil.

Uninsured motorist medical coverage can be important in some circumstances, but not all. If you have excellent medical insurance, you might be duplicating that with UM. Discuss this with a good agent.

Uninsured motorist......it can also compensate you for lost wages and pain and suffering too. I rank it right up there as being as important as liability. You need it. I learned this the hard way. Yes I was told it was unnecessary as I had medical coverage through employment.
 

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Insurance is different in every state. I carry about 15 different kinds of coverage that protect me, my bike, and my house. It's terribly expensive living near Boston, but at least I know I'm truly covered. I pay $1300 a year.

Read this, no matter where you live. Motorcycle Coverage Info

I should also add that I could insure the bike for $167 a year -- compulsory -- with no chance whatsoever of a payout to me under any circumstance.
 

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My 06 was only $104 a year for comprehensive and collision. Liability was $60. For the extra $44, I figured, why not? I ended up totaling the bike and buying it back, as the damage was all cosmetic and fairly minor. So I am glad I had it. Even though they paid out, I still have the coverage because it's cheap and I fixed most of the damage.
 

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Uninsured motorist......it can also compensate you for lost wages and pain and suffering too. I rank it right up there as being as important as liability. You need it. I learned this the hard way. Yes I was told it was unnecessary as I had medical coverage through employment.
I rank it (UM/UIM) even higher than liability. With a bike, you likely will not do much damage to a car or its occupants. You could take out a pedestrian I guess.

No we as bike riders will be the greasy spot in a bad wreck. Medical coverage puts your body back together and says good luck.

I want coverage to give me some quality of life should I bite the big one.

Talk to a knowledgeable lawyer. Under/uninsured coverage is hugely important for bikers. A lot of cagers have no insurance at all and a majority of the rest have state minimums.

Liability is more important with your cars.

My wife got hit head on by an uninsured driver last year in her new car. Totaled the car $32,000 and we are up to $25,000 in medical bills. She was in Eroom 1 night and hospital 2 days. She was lucky to have not been injured worse.

My insurance covered it all including our deductible.
 
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