insurance question

rfuerst911sc · 07-23-2012, 04:28 PM

After being away from bikes for 30 years I'm getting back in the game. Purchased a 1976 R90/6 a few weeks ago and I'm taking a motorcycle course to get my license back. But my question is regarding insurance what are you guys using ? And what deductibles and coverage are you getting ? I got a quick quote from Allstate last week and it was under $140.00 per year but I have nothing to compare that to. Any help is appreciated. Thanks

Morgan Steele · 07-23-2012, 04:50 PM

The insurance coverage limits that you need depend on your personal assets situation. What works for others may not work for you. You want sufficient insurance - i.e., not too much and not too little. I recommend sitting down with your insurance agent after reviewing what you're trying to protect (e.g., home, family, business, etc.). Be sure to check on on UM (uninsured motorist), UIM (underinsured motorist), and umbrella coverages if applicable in your state. There are many variables but feel free to PM me for additional information.

Mista Vern · 07-23-2012, 05:38 PM

What Morgan said. There have been a lot of insurance threads over the years and people are all over the place regarding companies, payments, etc., so the best thing is to find out what works best for you in your situation. Get several quotes if you have time and don't mind switching carriers.

pthomas · 07-24-2012, 07:41 PM

Out of curiosity, what was the coverage at that price?

My motorcycle is no longer on the road but I didn't have insurance because Geico wanted an absurd amount of $ for 300k liability all across + coverage for the bike.

bmwloco · 07-24-2012, 07:55 PM

Hagerty is great. Stated value insurance, great rates, and I know it to true in NC and AL that it meets state requirements. I have been with them for 10 years. Three BMWs are under $175 annually.

squish · 07-25-2012, 12:03 AM

I once heard a suggestion of twice your net worth as a good place to start figuring out you liability.

Don't fall into the trap that you have to have everything under one roof.
And you can save a lot of money by shopping around every few years.

But like others have said its a personal thing. The whole insurance is a risk based deal. How much risk do you want to take one?

07-23-2012, 04:28 PM	#1
rfuerst911sc ^OP Adventurer Joined: Jun 2012 Oddometer: 56	insurance question After being away from bikes for 30 years I'm getting back in the game. Purchased a 1976 R90/6 a few weeks ago and I'm taking a motorcycle course to get my license back. But my question is regarding insurance what are you guys using ? And what deductibles and coverage are you getting ? I got a quick quote from Allstate last week and it was under $140.00 per year but I have nothing to compare that to. Any help is appreciated. Thanks

07-23-2012, 05:38 PM	#3
Mista Vern Knows all - tells some. Joined: Dec 2005 Location: McMinnville, Oregon Oddometer: 12,972	What Morgan said. There have been a lot of insurance threads over the years and people are all over the place regarding companies, payments, etc., so the best thing is to find out what works best for you in your situation. Get several quotes if you have time and don't mind switching carriers. __________________ - "The turd follows the fart as surely as the rain follows the plow." Emily Bronte

07-24-2012, 07:41 PM	#4
pthomas Gnarly Adventurer Joined: Jan 2011 Location: St. Petersburg, FL Oddometer: 180	Out of curiosity, what was the coverage at that price? My motorcycle is no longer on the road but I didn't have insurance because Geico wanted an absurd amount of $ for 300k liability all across + coverage for the bike. __________________ Paul 1974 R90/6

07-24-2012, 07:55 PM	#5
bmwloco Studly Adventurer Joined: May 2008 Location: AsheVegas NC Oddometer: 978	Hagerty is great. Stated value insurance, great rates, and I know it to true in NC and AL that it meets state requirements. I have been with them for 10 years. Three BMWs are under $175 annually. __________________ Pastor, Church of the Horizontally Opposed Air Cooled Twin '66 BMW R60/2, '83 BMW R100RS, '81 BMW R100RS "Das Beast", '77 Honda XL125 Airhead #371

07-25-2012, 12:03 AM	#6
squish Out of the office. Joined: Dec 2003 Location: Where the Ghetto meets the sea. Oddometer: 4,981	I once heard a suggestion of twice your net worth as a good place to start figuring out you liability. Don't fall into the trap that you have to have everything under one roof. And you can save a lot of money by shopping around every few years. But like others have said its a personal thing. The whole insurance is a risk based deal. How much risk do you want to take one? __________________ *On vacation for a spell*

07-23-2012, 04:50 PM	#2
Morgan Steele Adventurer Joined: Jan 2012 Location: Scottsdale, AZ Oddometer: 82	The insurance coverage limits that you need depend on your personal assets situation. What works for others may not work for you. You want sufficient insurance - i.e., not too much and not too little. I recommend sitting down with your insurance agent after reviewing what you're trying to protect (e.g., home, family, business, etc.). Be sure to check on on UM (uninsured motorist), UIM (underinsured motorist), and umbrella coverages if applicable in your state. There are many variables but feel free to PM me for additional information.

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