Insuring your 1st Gen.....

[DragonRider]

I am thinking about going back to full coverage insurance on my 83 Venture, especially since I have fixed all the plastic and repainted it, just wondering how many people are carrying full coverage insurance on their 1st Gen. I know the blue book value isnt very high, but if it does get totaled by me, I want to get a little cash for it, dont want to write off the whole bike...............

[camos]

What about collector status insurance? Here in B.C. that's available for vehicles 25 yrs or older, pleasure use only though. They go by estimated value with that insurance.

[bongobobny]

pleasure use only though.QUOTE]

 

Isn't ANY time you ride "pleasure???"

Edited November 21, 2009 by bongobobny

[Dano]

Progressive full coverage for my 84 is 233 a year, if an idiot with no insurance hits me (I learned from Yammer) I at least want some cash out of the bike

[Bubber]

Some insurance companies let you purchase insurance by the 1K of coverage.

 

In other words insure it for 5K at $100.00 for 1K of coverage.

If a total loss occurs then they pay you 5K for the total.

 

Just a thought.

 

Bubber

[camos]

pleasure use only though.QUOTE]

 

Isn't ANY ntime you ride "pleasure???"

Seems not, according to the guvmint, it has been decreed that there must be no pleasure taken when driving to a place of employment.

[Condor]

Around here they'll let you put any casualty loss value you want on it, but when it comes to paying the claim they use blue book values...

[timgray]

Around here they'll let you put any casualty loss value you want on it, but when it comes to paying the claim they use blue book values...

 

 

And that is why I wont have full coverage on my bike. Them handing me a check for $250.00 and keeping my bike is an insult. I'll keep the wrecked hulk, part it out and be further ahead by not paying more than $79.00 a year. Collision Insurance is a scam. If you put into savings the added premiums you pay, you will be able to give yourself a bigger crash check than they ever will.

 

I can see it on a new bike or car for the first 5 years or until it's paid off, but after that I cant see any value in it.

[MiCarl]

And that is why I wont have full coverage on my bike. Them handing me a check for $250.00 and keeping my bike is an insult. I'll keep the wrecked hulk, part it out and be further ahead by not paying more than $79.00 a year. Collision Insurance is a scam. If you put into savings the added premiums you pay, you will be able to give yourself a bigger crash check than they ever will.

 

I can see it on a new bike or car for the first 5 years or until it's paid off, but after that I cant see any value in it.

 

I agree.

 

Insurance companies have to make a profit. That means they take in more in premiums than they pay out.

 

Insurance is Risk Management. You buy insurance for risks you cannot manage on your own, and you pay a fee for that like any other service.

[Venturous Randy]

When my 83 was "totaled" by State Farm last year when a woman at work knocked it over and drove off, but later on admitted it, they settled for $3,164 with me keeping the bike. They charged me $200 for the bike, so total was $3,364. My bike did have custom paint and the odometer was showing about 20,000 miles, but when the adjuster looked at the odometer and wrote it down and did not ask if that was 120,000, I forgot to remind him. Some people think 20,000 miles is a lot of miles on a bike.

RandyA

[Yammer Dan]

Just make sure you have Underinsured and Uninsured on your policy. I have yet to recieve anything from the others Insurance policy in two accidents when the only thing they could fault me for was being there and getting in their clients way.

[Venturous Randy]

Just make sure you have Underinsured and Uninsured on your policy. I have yet to recieve anything from the others Insurance policy in two accidents when the only thing they could fault me for was being there and getting in their clients way.

 

Absolutely.

After what you have gone thru Dan, when I renewed with Allstate, I increased my coverages up considerably from what they were, after what you have shared with us. I appreciate you continuing to remind people of this.

RandyA