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insurance

  1. #1
    I Dance With Will
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    insurance

    well... i just paid $378 for comp+colision w/ $1000 deduct. i'll change it to $500 deduct later but it's still less than $500.

    Commerce wants $1100 for comp+collision. can you believe that?

    anyone wants interested? you can even use my address. i don't care.

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  2. #2
    I Dance With Will
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    insurance

    oh and this is for a 1000cc.

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  3. #3
    mtn biking season! skiierx's Avatar
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    insurance

    So you went for a barebones policy, minimum everything didn't you? I just raised my all my optionals to 250/500, got med pay and kept my deductable down low and am at $700 for the year.

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  4. #4
    Lifer
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    insurance

    I found out mine is dropping to $700 so I'm probably going to leave it alone.

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  5. #5
    I Dance With Will
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    insurance

    Originally posted by skiierx
    So you went for a barebones policy, minimum everything didn't you? I just raised my all my optionals to 250/500, got med pay and kept my deductable down low and am at $700 for the year.
    why did you say barbone?

    i got comp + collision.

    med pay on a bike? is there such a thing?

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  6. #6
    Lifer McBiggity's Avatar
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    insurance

    medpay is essential to have on a bike policy.
    PIP won't cover you.

    and by barebones- I think he means if you chose the state minimums for coverages-
    for example- Property Damage- Part4- State Min. is $5000.

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  7. #7
    Lifer
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    insurance

    This medpay thing has really come up a lot recently. Does this perhaps differ policy to policy?

    If skipping med-pay means you are totally uncovered for your own injuries wouldn't agents be pushing it on us?

    I'm going to have to call my agent, he's very forward about trying to sell me options to keep me safe, I can't believe he would never mention med-pay.

    I also have very good health insurance so I'm wondering how out in the open I am there.

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  8. #8
    I Dance With Will
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    insurance

    i thought barbone is just a liability, meaning covers other guy if your fault. no?

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  9. #9
    Lifer
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    insurance

    Ok, here is the lowdown...

    We HAVE to have PIP.

    PIP for car = $2000 for your medical costs, $8000 if you do not have primary health care.

    PIP for motorcycle = $0, EVEN THOUGH YOU STILL HAVE to have it.

    My agent says I need to call my health care claims office to find out what the coverage would be for a motorcycle accident.

    But he quoted me the following for med pay:

    $153 for $5000 coverage
    $375 for $50,000 coverage.

    I asked him about the $50k just because $5000 sounds totally ridiculous for a serious motorcycle accident if your primary health care totally denied the claim. ($5000 was his suggestion)

    ISTR Taylor when he broke his leg had HUGE bills, but he had good insurance when it happened.

    But the point seems to be you need to talk to your primary health care first, I'm not doing anything yet but I appreciate the chatter about this and I may be adding it.

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  10. #10
    Angry Gumball RandyO's Avatar
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    insurance

    Originally posted by Kham
    i thought barbone is just a liability, meaning covers other guy if your fault. no?

    bare bones is state MINIMUM liability, how much does that cover you for $25,000? if you injure someone and there is $500,000 in damages, you will be $475,000 short, why bother having insurance at all ?

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    RandyO
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  11. #11
    I Dance With Will
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    Originally posted by RandyO
    bare bones is state MINIMUM liability, how much does that cover you for $25,000? if you injure someone and there is $500,000 in damages, you will be $475,000 short, why bother having insurance at all ?
    right!

    now two things to be considered.
    1) if you have a lot of assets you want to make sure that they're all covered here.

    2) if you don't have any assets, well you probly don't care.

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  12. #12
    Lifer
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    insurance

    Call your health care provider.

    I have excellent health care, I called claims and cross checked with with the motorcycle/car insurance.

    If I had a bad accident I'd pay a $50 deductible and be covered with no single accident limit.

    So I'll save the $150-300 for med pay personally.

    My MC insurance guy said if you're a contractor, small business, self-employed, etc.. you very likely need Med Pay though.

    If that was me I'd be getting a hell of a lot of Med Pay, like $100,000 at least.

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  13. #13
    Angry Gumball RandyO's Avatar
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    insurance

    Originally posted by Kham
    right!

    now two things to be considered.
    1) if you have a lot of assets you want to make sure that they're all covered here.

    2) if you don't have any assets, well you probly don't care.
    not only do you have to be concerned about any assetts you may have, also future income, it would be like paying child support for the rest of your life for a kid you never had

    Once you get the bare minimum, it doesn't usually cost much to increase your limits

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    RandyO
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  14. #14
    I Dance With Will
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    insurance

    Originally posted by RandyO
    not only do you have to be concerned about any assetts you may have, also future income, it would be like paying child support for the rest of your life for a kid you never had

    Once you get the bare minimum, it doesn't usually cost much to increase your limits
    but that is not evolution...

    born in the USA
    born in the USA
    born in the USA

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  15. #15
    Senior Member dave72370's Avatar
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    insurance

    I just checked and med pay for 50k from Arbella is $187

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  16. #16
    Junior Member
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    insurance

    so kham what insurance is this?! i still didnt put my bike on the road yet and i kinda dont want to go back with commerce....

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  17. #17
    I Dance With Will
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    check your pm.

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  18. #18

    insurance

    I just checked with Commerce - $78 for $5000 in coverage. I have two bikes so you have to pay twice. I signed up for it today. Since I rode to work today, I might as well start NOW... I realize that $5k is not much, but $10k is $113 (x2) so I'm counting on the fact that I have good medical insurance through my employer. Harumph.

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  19. #19
    mtn biking season! skiierx's Avatar
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    insurance

    Most are correct when they interpretted my barebones comment by carrying the state minimums for full coverage. On the medpay comments, you need to check with your health care insurer to make sure that motorcycles are not listed as a dangerous sport, meaning they will not cover you in the event of an accident.

    Just do your homework and you will be fine.

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