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| Full Coverage Insurance on Old Bikes? http://www.kawi2strokes.com/forum/viewtopic.php?f=2&t=14204 |
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| Author: | Mgmark [ Fri Jul 17, 2020 2:40 pm ] |
| Post subject: | Full Coverage Insurance on Old Bikes? |
Hey Guys, I don’t currently run full coverage bike insurance. I don’t ride a lot of miles, and that is split across three bikes. The biggest part of my riding is at events like Deal’s Gap coming up. Do you guys feel it is worth doing the full coverage on an H2? Can I ask what an average amount is for you guys who do have it? I’ll see you next month. Mark |
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| Author: | BarryB [ Sat Jul 18, 2020 9:49 am ] |
| Post subject: | Re: Full Coverage Insurance on Old Bikes? |
Why would you not have full coverage unless the bikes are junk. My H2 is insured for 25K if I remember. It's just a rider and I don't ride it a whole lot either, but if it gets totaled or stolen I look at the price to replace it with all the goodies in it (most you can't see except Don F's rebuilt gauges). |
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| Author: | III [ Sat Jul 18, 2020 9:57 am ] |
| Post subject: | Re: Full Coverage Insurance on Old Bikes? |
I have always kept comp and collision on my triples. Even the 1976 KH400 that is in pieces.... So if a ladder fell on it and trashed my tank, or it got knocked over and damaged, The comp has 100$ deductible. Collision the same. "Agreed Value" at 4000 bucks Went from $64/yr when I added my 2001 Connie recently, by $145. Concours is also fully insured, c/c $100 ded each |
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| Author: | Jim [ Sat Jul 18, 2020 10:20 am ] |
| Post subject: | Re: Full Coverage Insurance on Old Bikes? |
BarryB wrote: Why would you not have full coverage unless the bikes are junk. It's a matter of the risk/benefit ratio. If I have to add $500/year for full coverage for my four motorcycles, that's $5,000 in ten years. My H2 is the only one that might be worth that much and it's essentially never left somewhere it could be stolen. I'm willing to take the risk of having to pay to fix it if I crash it. If you think about it, the insurance company is making money on the deal on the average, so I choose to take the risk instead of paying them to take it for me. Now if I had a really valuable vehicle, and it would hurt my bank account if I lost it, I'd probably get the full coverage. |
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| Author: | Mgmark [ Sat Jul 18, 2020 11:31 am ] |
| Post subject: | Re: Full Coverage Insurance on Old Bikes? |
Jim wrote: BarryB wrote: Why would you not have full coverage unless the bikes are junk. It's a matter of the risk/benefit ratio. If I have to add $500/year for full coverage for my four motorcycles, that's $5,000 in ten years. My H2 is the only one that might be worth that much and it's essentially never left somewhere it could be stolen. I'm willing to take the risk of having to pay to fix it if I crash it. If you think about it, the insurance company is making money on the deal on the average, so I choose to take the risk instead of paying them to take it for me. Now if I had a really valuable vehicle, and it would hurt my bank account if I lost it, I'd probably get the full coverage. I pretty much agree with Jim. My bikes are never left unattended, although the GT does get ridden to work on occasion. I doubt a thief could steal it since it is kick start only and too heavy to carry away. I will check on the cost of the added coverage for the H2 and Yamaha and if it is reasonable money I will probably go ahead and add it. Thanks for your opinions. Mark |
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| Author: | III [ Sat Jul 18, 2020 3:54 pm ] |
| Post subject: | Re: Full Coverage Insurance on Old Bikes? |
My 2001 Concours with full coverage is $170 for the year KH400 now has the C&C removed and costs me $24/yr so I can keep my custom plates. When I add comp and collision again it goes up to 78/yr. |
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