Join Date: Dec 2012
Location: Central Florida
How much insurance do I really need?
New to the forums, looking forward to being an active member of the community as I get into motorcycling.
I'm 20 years old, in Florida, which is a no fault state (but I'm not even entirely sure what that even means). I'm trying to go about buying my first bike (likely a used 250) as responsibly as possible. I plan to follow ATGATT and be a safe rider, but feel I should take some extra steps. In Florida, insurance isn't required for motorcyclists, but I have been told and heard of horror stories of people being on the hook for millions in damages and bodily injury just because they swerved outta the way of a pothole and lowsided and caused the semi behind them hauling fuel to turn over. Probably an extreme example, but it leads me to my question.
How much do you all feel is necessary for us as motorcyclists. Obviously our vehicles can do a ton of damage at high speeds, but we typically will do less than a car can.
I dont intend on getting any comprehensive or collision insurance, as its fairly expensive and I will have a very cheap bike. I looked into Progressive, and can get $250k/$500k bodily injury liability and $100k property damage liability for a little over $100 for the whole year, which sounds like a great deal to me. I would like to add in some uninsured/underinsured motorist coverage as well, but I find that it makes the price jump substantially, and also I have Blue Cross health insurance through my mom's employer, so really don't know if UM/UIM is necessary for me.
What do you all think? More/less PD and BI? Add in UM/UIM? I've never shopped for insurance before which is why I'm so clueless. I wanna try to avoid going off of an insurance agents advice because I hear they try to sell you as little as possible to get your business. I can't really ask my parents because they're against the motorcycle thing. While I am out on my own paying for my own apartment and almost completely financially independent (besides $200 a month for groceries), its probably best just not to piss them off, and I dont want my mom to be nervous wreck.
Any help is appreciated, just keep in mind the fact that I have health insurance and live in Florida, a no-fault state, if anyone has a firm understanding of what that means cause I sure dont.
Thanks in advance and I'm excited about joining this community,