Something to chew on.

[Gary N.]

For what it's worth, I have recent first hand experience on how good my insurance was.

By the way, I pay about $1000 a year for full coverage with $1000 deductible which I always thought was outrageous until I had to use it.

So far I have had no out of pocket expenses that have not been covered by my insurance company. My hospital bill for 1 month in Akron Ohio was well over $300,000.00. This was totally covered through my out of province health care insurance which is separate from my bike insurance. The next two months in Canadian hospitals were covered through our provincial health plan. All of my rehab, including house keeping, snow removal, special bath room equipment etc. has been covered on the bike insurance. Leslie's funeral costs ($15K+) were covered through a combination of bike insurance and life insurance. I have not settled on the bike itself but from talks I've had with the adjuster, it sounds like the pay out on the bike will be fare.

My point to all this is, make sure you have enough coverage. I had expenses for things I never even thought of, like $10,000 for a life flight.

Also make sure your will and power of attorney for financial and medical are up to date. And make sure your executor and/or the person who has your power of attorney know your wishes and where your papers are kept.

We all complain about the cost of insurance and we all look for the cheapest rate. All I'm saying is sometimes you get what you pay for. Think about it.

[saddlebum]

I can't agree with you more Gary. back in 1976 I had insurance through a company that was the best deal around (so I thought) but when a pickup truck coming the opposite way cut in front off me causing me to smack right into the side of the truck, I was left high and dry by the insurance company because (1) the other guy did not report the accident to his employer and thier insurance company which took the stance that there was no accident and (2) since my damage to the bike was less than the deductable my insurance company claimed that since they had no financial interest in the matter ther was no need for them to do anything about it. Fortunatly for me when I approached the owner of the company he was actually happy to find out how the big dent mysterously got into the side of his truck . He covered all my damages and fired the emplyee right in front of me for not reporting it.

[SledgeHammer]

Gary,

You have given us all good advice. I am just so sorry that your good advice was the result of such a devastating tragedy. Thank you for trying to look out for the interest of other members.

 

Tim

[Gary N.]

Gary,

You have given us all good advice. I am just so sorry that your good advice was the result of such a devastating tragedy. Thank you for trying to look out for the interest of other members.

Tim

 

HI Tim, nice to hear from you. We all know that riding bikes is a gamble and all of us here chose to take it. All I'm trying to get across is the fact that most of us never think about what could happen and the problems it could make for those left behind. In my case it was more good luck than good management.

On another thread the guys are discussing how cheap their insurance is. Sometimes when you buy cheap you get cheap and you don't give it a thought until it's too late. Be prepared guys, you never know what's around the next turn.

[Eck]

words from the wise!!!!!!!

[Guest BluesLover]

That's very sage advice Gary.

 

Cheers,

[Eugene]

Two things one never wants to cheap out on.....

 

Parachutes and Insurance

[SilvrT]

Gary, thank you for giving me this "wakeup call". I've never gotten more than "basic" coverage on any vehicle. Your story has made me see the light and I will definately be paying more attention to my coverages, etc when I re-insure next Month.

 

Many of us are getting "older" (myself turning 61 next month) and many of us "old farts" have been riding many, many years accident-free. Another member and his wife who just came through an accident commented he'd been riding for 40 years and knew that the odds were against him (so to speak). Similarly for myself... 40 yrs... been so very lucky so far.... how much longer will I remain "lucky" ... I'm not young anymore ... I don't think as quick as I used to ... my sight isn't as sharp as it once was ... my reactions are slower ... ... for me, I need to be more careful driving my scoot and I need to make sure that I have more than adequate insurance in case that "unlucky" day comes along.

 

[Bummer]

I couldn't agree more, Gary.

 

Medical expenses from my crash in '05 were in excess of $150,000. That was just to rebuild my left leg. In all I had ten surgeries. I was off work over ten months.

 

Armando didn't have any insurance. Luckily I had maxed out uninsured/underinsured coverage. A young lady from Progressive brought me a check that paid the bills and bought me a new bike. I keep maxed out coverage on it too.

 

Cheap (inadequate) insurance is only a bargain if you don't need it.