Is it mandatory that you have full coverage on a financed bike, or can you have just liability. Im trying to get on this promotion kawa is having but I been gettin insurance quotes for like 5600$ a year. Im 21 with a fairly clean record[:I]. I been searching old post but no one really made it clear or not that it was a must to fully cover an financed bike. This is the first thing I will be insuring by myself, so I know very little bout the rules and regs. of insuring.