What kind of insurance do you have?

[ConnectiKat]

I did a quick search but couldn't find much about insurance.

1. What kind of insurance do you have and how much you pay?

2. My Katana worth ~$3000 gets stolen. What will happen if I have comprehensive coverage with a $250 deductible?

3. Collision coverage, expensive. Necessary?

Like my title says, skidmark here, advice appreciated.

[BobCarter]

I have statefarm on my 06 kat 600 and pay about 30 bucks a month for full coverage with $500 deductibles on comp and collision.

[scottynoface]

I pay $211 a year on my 03 636. That's just liability and theft.

[SLYDVL]

I only have the minimum insurance in my bikes. if anything happens to them, oh well. I wont even go through insurance if i can help it. The increase would be too much.

[H-2 CHARLIE]

I got bare min. For now $61 dollars for 6mo. Maybe up it in the summer

[Idrivetoys]

Comprehensive will cover the amount of purchase value of the bike at the time the bike is stolen.

Upgrades/accessories are only covered if they are factored into the cost of insurace IE you tell them what you have as customizations

I have progressive but only liability and i pay $130 or so a year, 01 Kat 600, if you have a good driving record, no ticket in the last 5 years call geico.

[ConnectiKat]

Comprehensive will cover the amount of purchase value of the bike at the time the bike is stolen.

Upgrades/accessories are only covered if they are factored into the cost of insurace IE you tell them what you have as customizations

I have progressive but only liability and i pay $130 or so a year, 01 Kat 600, if you have a good driving record, no ticket in the last 5 years call geico.

Yeah looks like I'm going with progressive. $458 a year with no collision and a $250 deductible on the comprehensive. This neighborhood isn't the the best and I'm gonna have to keep it in the back of the house with no roof. Thanks man.

[katana_ron]

Geico, I have the basic coverage, $100 per year.

[FieroReinke]

I have progressive with Liability and uninsured/underinsured driver which also covers me if it is a hit and run and I pay $160 / year for standard coverage amounts.

[97Blade]

Progressive-liability-96.00 a year

[The CyberPoet]

Comprehensive will cover the amount of purchase value of the bike at the time the bike is stolen.

Note that this value may not be as much as you expect. Pay attention to NADA and Kelly Blue-Book guides. If you are carrying a loan on the bike, make sure you get a GAP rider, which will cover any difference between the remaining balance and the pay-off amount on the loan, so you can't get caught out short.

Upgrades/accessories are only covered if they are factored into the cost of insurace IE you tell them what you have as customizations

Again, this is also in part based on the insurance company and their policies for your particular state/region. State Farm (which covers me) in Florida covers anything permanently mounted to the bike in terms of accessories, such as hard luggage, sliders, electronics, etc. without an up-charge, but does require a separate rider if you want coverage for additional stuff that isn't permanently mounted (radar detectors, etc).

Reading the small print in the contract may give you the answers, but IMHO, specifically ask your insurance agent about what is covered and what isn't, preferably via email (so there's a documented correspondence -- insurance agents must retain 5+ years of correspondence by law), and print the responses & stick it into whatever file you use to hold your insurance paperwork (it may be to your benefit in the future if they mis-spoke).

I have progressive but only liability and i pay $130 or so a year, 01 Kat 600, if you have a good driving record, no ticket in the last 5 years call geico.

My advice is to call a half-dozen different local insurance agents, and also ask local riders who they get theirs through. I was getting very unreasonable quotes over the net and semi-unreasonable quotes over the phone, then Rodimus turned me on to a local agent who insures many of the local riders and the quote came down to less than half of the next-cheapest quote for the same coverage.

Cheers,
=-= The CyberPoet

__________________________________________________ ________
CyberPoet's Katana Maintence and Upgrade Parts Offerings
The Best Metal Steel Aluminum Motorcycle Tire Valves in the World, plus lots of motorcycle & Katana (GSX600F / GSX750F) specific help files.

[nut_flush]

Note that this value may not be as much as you expect. Pay attention to NADA and Kelly Blue-Book guides. If you are carrying a loan on the bike, make sure you get a GAP rider, which will cover any difference between the remaining balance and the pay-off amount on the loan, so you can't get caught out short.

Again, this is also in part based on the insurance company and their policies for your particular state/region. State Farm (which covers me) in Florida covers anything permanently mounted to the bike in terms of accessories, such as hard luggage, sliders, electronics, etc. without an up-charge, but does require a separate rider if you want coverage for additional stuff that isn't permanently mounted.

Reading the small print in the contract may give you the answers, but IMHO, specifically ask your insurance agent about what is covered and what isn't, preferably via email (so there's a documented correspondence -- insurance agents must retain 5+ years of correspondence by law), and print the responses & stick it into whatever file you use to hold your insurance paperwork (it may be to your benefit in the future if they mis-spoke).

My advice is to call a half-dozen different local insurance agents, and also ask local riders who they get theirs through. I was getting very unreasonable quotes over the net and semi-unreasonable quotes over the phone, then Rodimus turned me on to a local agent who insures many of the local riders and the quote came down to less than half of the next-cheapest quote for the same coverage.

Cheers,
=-= The CyberPoet

I own an agency in California - and this is a pretty darn good response from Cyber. I would add that if you want liability only - for the most part get the cheapest quote. If you "own things" so to speak, be sure and stick with a reputable company and sufficient limits. If you've never heard of them - be careful. If the company doesn't cover the claim or goes out of business, you will still be liable. Also someone noted it would be the value of the bike - they forgot to say value minus your deductible. If the insurance company can show you 3 similar bikes on craigslist or ebay or in the classifieds for $2200, your $3,000 might turn into $1950 ($2200-$250deduct). KBB et. al. are a great resource, but by no means "the" valuation method for paying out.

If you want comp & collision, a company like the one I represent isn't going to appear cheapest at first, until you realize that we cover leathers and helmets automatically, accessories up to a certain amount automatically, chrome/custom work, towing added only $8/yr, etc. etc. Be sure and ask specifically what the policy covers as those type coverages might not even be available (you also might not want them - but if you don't - see paragraph above ).

A motorcycle written on a typical auto type policy behaves very differently than a "specialty vehicle" policy - which is designed to provide more coverage specific to riders.

If you have a question about how a coverage works, I can generally answer it (agents are licensed state by state and laws vary) and would be happy to help. Please don't think this is an advertisement of any kind, I can't sell outside of California anyways - just offering up knowledge to anyone in the KR community that might have a question or be confused.

Happy riding!

Mark

[H-2 CHARLIE]

Hey nut flush .. Does your co. Offer medical ?? Im with statefarm and they dont on bikes

[Zepp]

I have State Farm full coverage with $100 deductable on the ZX-14 and the Cbr600rr. I pay $70 / month.

Also, I don't have anything else insured with them, just my bikes

[nut_flush]

Hey nut flush .. Does your co. Offer medical ?? Im with statefarm and they dont on bikes

Yep - I'm PM'ing the company name to you. It's not *cheap* mind you - medical on a donor cycle never is. But they do.