How much insurance do I really need? - Page 2 - KawiForums - Kawasaki Motorcycle Forums
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post #11 of 21 (permalink) Old 12-28-2012, 03:27 PM
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If budget is tight not sure buying bike is a good idea

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post #12 of 21 (permalink) Old 01-02-2013, 04:37 AM
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I find it hard to believe that you can ride anywhere without liability insurance. Maybe someone can confirm for Florida?

If so, riding without it is plain stupid. For the bike, if it's on finance you need full coverage - there's nothing worse than making payments on a bike that's wrecked. Otherwise, try to balance the premium against the value of the bike. If it's new or not too old it's worth having full coverage. If it's an old beater, it isn't.

Weebel - liability if you paralyse somebody could run to maybe 10 - 15 million dollars a years for continuing care for the next 40 or 50 years. You can cause that kind of damage in the sort of collision where your yourself can just get back on the bike and ride on.

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post #13 of 21 (permalink) Old 01-02-2013, 09:12 AM
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I've read from multiple people that MC's dont need insurance in FL.
-Cody

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post #14 of 21 (permalink) Old 01-02-2013, 02:49 PM Thread Starter
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Quote:
Originally Posted by williamr View Post
I find it hard to believe that you can ride anywhere without liability insurance. Maybe someone can confirm for Florida?

If so, riding without it is plain stupid. For the bike, if it's on finance you need full coverage - there's nothing worse than making payments on a bike that's wrecked. Otherwise, try to balance the premium against the value of the bike. If it's new or not too old it's worth having full coverage. If it's an old beater, it isn't.

Weebel - liability if you paralyse somebody could run to maybe 10 - 15 million dollars a years for continuing care for the next 40 or 50 years. You can cause that kind of damage in the sort of collision where your yourself can just get back on the bike and ride on.

Rob
I'm definitely not going to get full coverage on the bike, as it will be at most a $3000 bike. I'll be buying used, and might end up going with an older model 250 to really save some money. I've seen them going for $1500 or less. I may get comprehensive just because I live in a student housing apartment complex and it could be a potential theft target.

I can certainly swing like $250k in liability, but as far as millions in liability, I dont know exactly how one could prepare for something like that.

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I've read from multiple people that MC's dont need insurance in FL.
-Cody
Yeah, I'm friends with a police officer who says the same. If however you choose to ride without a helmet you must carry proof of $10,000 of medical insurance for yourself, a drop in the bucket for the type of expenses that can result from a helmetless accident . This is irrelevant to me, one, because I always plan to ride ATGATT, and two, if you're under 21 you're bound by law to wear a helmet, indicated by a nice little marking on your tag that says "UNDER 21"
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post #15 of 21 (permalink) Old 01-02-2013, 04:38 PM
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Where do you live where full coverage on a 250 is 3k a year?

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post #16 of 21 (permalink) Old 01-02-2013, 04:50 PM
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"Where do you live where full coverage on a 250 is 3k a year?"

He wrote that he is buying a used bike with a $3,000 or less purchase price.

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post #17 of 21 (permalink) Old 01-02-2013, 04:51 PM Thread Starter
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Where do you live where full coverage on a 250 is 3k a year?

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I think you misunderstood. I meant, I'm not going to get full coverage on my bike, as in comprehensive and collision, because THE BIKE will only be a $3000 or less bike. Not worth paying all that money for such an inexpensive bike. Don't get me wrong, it'll still be a big hit to my poor college kid bank account, but there's no point paying an insurance bill that costs as much as the bike.
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post #18 of 21 (permalink) Old 01-02-2013, 10:35 PM
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Fair enough. I'm in the same boat I was just confused and wondering where the hell insurance was so expensive.

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post #19 of 21 (permalink) Old 01-03-2013, 01:32 AM
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I prefer full coverage, but you need to at least have uninsured motorist and liability. If youre financing the bike then your bank wil require full coverage, though I dont know if they actual check to see if you have it. I like the piece of mind I get with full coverage, and I can afford it, so to me it makes sense. I'll agree though that insurance is a scam when you think about it. You dont get back any money if you go without incidents, but theyll gladly charge you more if you do.

So get liability and uninsured motorists. There are uninsured fuckers out there and you dont want to become their victim. If you cant swing full coverage then I suggest you stash some money in a separate account in case you need to fix something down the road due to collision/low side/or whatever reason.

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post #20 of 21 (permalink) Old 01-03-2013, 01:40 AM Thread Starter
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Quote:
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I prefer full coverage, but you need to at least have uninsured motorist and liability. If youre financing the bike then your bank wil require full coverage, though I dont know if they actual check to see if you have it. I like the piece of mind I get with full coverage, and I can afford it, so to me it makes sense. I'll agree though that insurance is a scam when you think about it. You dont get back any money if you go without incidents, but theyll gladly charge you more if you do.

So get liability and uninsured motorists. There are uninsured fuckers out there and you dont want to become their victim. If you cant swing full coverage then I suggest you stash some money in a separate account in case you need to fix something down the road due to collision/low side/or whatever reason.
Yeah definitely not going to get full coverage because I plan to buy a used bike for less than $3000, probably less than $2000. It makes no sense to pay premiums that are half the cost of the bike. I might get comprehensive for theft, but otherwise its just going to be 250/500/100 liability and UM/UIM.

And even with regards to the UM/UIM insurance, I'm not sure if I'll get it. I have health insurance through my mom's employer through a major provider, and my lost wages would be little to nonexistent. Pain and suffering benefits would be nice, but adding in a significant amount of UM/UIM makes my cost of insurance go from about $100 a year to about $70 a month.
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