Insurance Question

Discussion of the Genuine Buddy, Hooligan, Black Jack and other topics, both scooter related and not

Moderator: Modern Buddy Staff

Post Reply
Lavish_Squalor
Member
Posts: 20
Joined: Sat Jan 17, 2015 7:42 pm

Insurance Question

Post by Lavish_Squalor »

I have a 2009 Genuine Buddy 125 that I purchased in December of 2014 and it has a little over four thousand miles on it. I've always carried full coverage on it and have a $250 deductible.

Do most of you guys carry the same level of insurance? Now that my scoot has some miles and years on it I'm wondering if the full coverage is worth it. It's not a financial hardship by any means, but I don't want to throw money away. My current policy runs me about $211 a year.

At present it's my sole means of transport.
User avatar
giddyup98
Member
Posts: 225
Joined: Sun Dec 13, 2015 7:26 pm
Location: New Jersey

Post by giddyup98 »

Unless the difference between full coverage and just liability insurance is not that much more, I would just get liability coverage. Book value for a 6 year old Buddy with 4K miles is only around $1K. If you totaled it, less your $250 deductible, all you'd get is around $750 or less.
2009 Genuine Buddy 125
2012 Genuine Buddy 170
2005 Vespa GT 200
george54
Member
Posts: 126
Joined: Sat Jun 13, 2015 3:01 pm
Location: New Jersey

Post by george54 »

You need to know the difference in cost between full coverage and liability only before you make that decision. Everyone here pays different amounts and can't make a blanket statement as to what's best for you.

It's probably not all that much cheaper for liability only, is my guess.
User avatar
mike932
Member
Posts: 152
Joined: Mon Apr 25, 2016 1:34 pm
Location: California

Post by mike932 »

And get towing insurance. I used it twice already. Progressive charges only $5 more per year for towing insurance.
User avatar
babblefish
Member
Posts: 3118
Joined: Tue Dec 04, 2007 8:42 am
Location: San Francisco

Post by babblefish »

I only carry liability insurance on my 2006 Blur because it's book value is probably in the negatives right now. It costs me $110 a year for insurance.
Some people can break a crowbar in a sandbox.
ucandoit
Member
Posts: 360
Joined: Wed Sep 24, 2014 12:21 am
Location: Minnesota

Post by ucandoit »

I have a 2008 with 5000 miles. I pay only $35/yr. for liability only, but I could not get towing, which would be nice. The scooter just isn't worth paying full coverage for. However, it is not my sole source of transportation.
User avatar
mike932
Member
Posts: 152
Joined: Mon Apr 25, 2016 1:34 pm
Location: California

Post by mike932 »

ucandoit, get a free quote online from progressive to see if it is cheap
User avatar
DeeDee
Member
Posts: 1100
Joined: Sat Jul 26, 2014 5:07 pm
Location: Denver

Post by DeeDee »

When I first insured a scooter 4 years ago they told me $100 a year for liability only. I said, how much to add comp? They said same cost. I said how much to add collision, they said same cost. I said how come. They said "were a $100 a year minimum premium company" I ended up with full comp, collision and $300k medical for the same as liability only would run. You have to know what questions to ask.
User avatar
mike932
Member
Posts: 152
Joined: Mon Apr 25, 2016 1:34 pm
Location: California

Post by mike932 »

Also, I buy A LOT of liability insurance because even though our bikes are small, we can still cause and accident and get sued for big bucks
iwannascoot
Member
Posts: 86
Joined: Sat Apr 09, 2016 12:53 pm
Location: Dawsonville Ga

Post by iwannascoot »

mike932 wrote:Also, I buy A LOT of liability insurance because even though our bikes are small, we can still cause and accident and get sued for big bucks
I have an umbrella policy also, even though the chance of doing serious damage on my scoot is unlikely. It is possible to cause bodily injury to someone and be sued into bankruptcy.

Billy
User avatar
DeeDee
Member
Posts: 1100
Joined: Sat Jul 26, 2014 5:07 pm
Location: Denver

Post by DeeDee »

mike932 wrote:ucandoit, get a free quote online from progressive to see if it is cheap
I bought Progressive through a broker. Premium was 40% cheaper then the quote I received from them directly.
Post Reply