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Insurance

7K views 68 replies 28 participants last post by  mrjo1340 
#1 ·
I'm just wondering what everybody else is paying for full coverage on their VTX's.It costs me $863 a year and it covers most everything,even when its parked in the garage all Winter.I'm not worried about theft or anything.Nobody will steal Brutus,too much of a hassle. ;) OEM replacement parts are getting very expensive now for these bikes though.I assume my insurance company will probably just TOTAL my VTX rather than fix it,if I'm in a accident.Even if its minor.Just wondering....
 
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#48 ·
Credit rating also changes your insurance rate. Shouldn't but it does. I guess because they want to be paid that deductible.
 
#50 ·
Man I cant wait to retire and move south of the boarder.
Just on insurance savings alone I would save a ton.
2005 VTX 1800 $1210.00 per year
wifes BMW $1479.00 per year
My ford escape $1380.00 per year
House insurnce and jewelry $1300.00 per year
wifes jewelry
Thats a wopping $5,369.00 per year just for insurance

then again since Dec 4 2018 i have seen my surgeon 3 times had a set of exrays and 2 separate MRI's and I just went in for arthoscopic knee surgery and it only cost me $20.00 for parking

So I guess I am way way ahead.
 
#51 ·
Full coverage with StateFarm in CO, I want to say I paid under $250 for the year last year. My coverage will cover damn near anything though.
 
#52 ·
Statefarm in Colorado also, for less than half of that.
Of course, ALL my stuff is with statefarm so I am sure I am getting some discounts.
(Of course, they're on the hook right now for 30-40k for a new roof from last June's hail storm so maybe they'll kick me out).
 
#54 ·

Originally Posted by tworley

Full coverage with StateFarm in CO, I want to say I paid under $250 for the year last year. My coverage will cover damn near anything though.



henkvdb said
Statefarm in Colorado also, for less than half of that.

Of course, ALL my stuff is with statefarm so I am sure I am getting some discounts.
(Of course, they're on the hook right now for 30-40k for a new roof from last June's hail storm so maybe they'll kick me out).

But you are more than twice his age, too. tworley is 31y/o, you are 68


 
#56 ·

Originally Posted by tworley

Full coverage with StateFarm in CO, I want to say I paid under $250 for the year last year. My coverage will cover damn near anything though.



henkvdb said
Statefarm in Colorado also, for less than half of that.

Of course, ALL my stuff is with statefarm so I am sure I am getting some discounts.
(Of course, they're on the hook right now for 30-40k for a new roof from last June's hail storm so maybe they'll kick me out).

But you are more than twice his age, too. tworley is 31y/o, you are 68



Are you saying that there is a BENEFIT to being OLD?
(Besides riding and skiing in the middle of the week since I retired 8 months ago and no longer having to put up with weekend crowds).
You make a very good point though, did not think of that.
 
#55 ·
We had full coverage for 2 bikes and paid 280 per year. A car pulled out in front of my wife. She ended up with a broken wrist. Found out that the other driver didn't have insurance. When we started our policy we didn't chose the under insured or uninsured. We are getting it back on our policy now and will run us about 520 a year now.
 
#57 ·
It really sucks that not only do you have to buy insurance for your own car, but then you have to buy insurance on every uninsured car on the road. It's a bunch of Bull $hit!!!!!!! And the states let these jerk wads drive around uninsured, but if I drop the insurance on the bike for the winter they pull my registration in record time and the cops don't do anything about it either except to give them a ticket (If they even bother to do that!!!!!). This country is going straight into the toilet!!!!!:banghead::spank::swear::doh:


End of rant!!!!!
 
#59 ·
Some states do not require insurance. Most do require minimum coverage. Florida is weird you don't need insurance for a motorcycle but you are financially responsible so you can get liability insurance. Insurance is a smart idea in this riders option so I wouldn't do that.
 
#60 · (Edited)
I am not sure about now, but at one time in CA you could post a (I think it was) $35,000.00 bond in the place of an insurance policy. Of course back then that was a lot of money (not so much now). I will have to check into this and get back when I have a definite answer. OK, here is the answer.


In California it falls under the umbrella of Financial Responsibility. ... Under California Vehicle Code, Section 38750 drivers can choose between three options to meet this requirement: Carry traditional insurance, post cash with the state or to procure a auto insurance bond with a licensed bond agency.Mar 20, 2015
 
#61 ·
I think mine is something like $198/year, full coverage in one of the worst insurance markets in America.
 
#63 ·
Just got the renewal $480 for the year for both bikes.
Not the greatest but also not terrible. I have decent coverage for uninsured idiots and that's much of the cost.
 
#64 ·
I can't believe how little you folks pay for motorcycle insurance in the US! I'm reading what some of these premiums are and it just boggles my mind! Here in Ontario Canada I pay $87 a month and that's considered a huge substantial discount. I have been licensed for almost 27 years with zero accidents, claims or any traffic tickets. It's a well-known fact that insurance here in Ontario is unfair and some people say there is collusion.
I guess that's just how it is here. The insurance company grabs us all by the short and curlies.
 
#65 ·
You're not alone. Unfortunately, rates are based on other people's accidents, not yours. The cost of replacing your bike is negligible to an insurance company. What they care about is, how much is it going to cost us if MRJO wrecks and lives....with a broken back? What will that cost us to cover his physio for the rest of his life? Maybe fix his house so he can wheelchair up to his door and throughout his house....into a shower? Morbid thoughts, for sure, but this is what Insurance companies do. One thing is certain...they are like Casinos. The HOUSE ALWAYS WINS. Rates will never go down.(unless you are willing to outfit your vehicle with a monitoring device that records everything you do.....disguised as a 'safety feature') In case you think I'm joking, this is already here. People are signing up in droves to save a couple of bucks.:doh:
 
#66 ·
They have limits and no insurance I know of is going to give you "lifetime" anything except disability insurance you pay for separately. It's a quick cash out and done for the insurance company.
 
#68 ·
I agree with you.
I can't imagine that US insurance companies have these low premiums to be 'nice' without making any profit.
So WHY the difference?

Is there any competition at all in the Canadian motorcycle insurance world?
If not, when the government REQUIRES insurance there's a load of money to be made without competition.
So what stops competition from stepping in trying to also make a buck?
 
#69 ·
Some provinces have what they call public Insurance where premiums are significantly cheaper. However, here in Ontario which is the most populous province in Canada it's private therefore premiums are significantly higher. What makes matters even worse you pay insurance all year round but if you're lucky you'll ride maybe six months out of the year. And realistically only about four months is actually real decent weather.
Some folks think they are smart by canceling their insurance in the winter. You know what happens if they do that? Once you have a cancellation on your insurance record, companies will either not insure you or charge you an exorbitant amount which needs to be paid upfront. I personally know people who take their chances and ride without insurance. That, is a really bad move! If the police here catch you operating a motor vehicle without insurance it starts off with a $10,000 fine, roadside seizure of your vehicle plus you can forget about having any sort of insurance in the foreseeable future with that kind of conviction on your driving record. That's why a lot of bikers here sometimes don't stop for the police because they know what they are facing if they get the caught so they roll the dice and just pin down the throttle and run!
 
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