Insurance

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

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ryanbates
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Insurance

Post by ryanbates »

Happy New Year!
Question for you all. Do you have insurance on your scooter? and for what limits? I got a quote from Progressive for $348/yr and just want to see if it's in the ballpark?? My auto insurance is commercial and does not do motorcycles, so I would need a separate policy. But do you even need insurance on such a relatively low-cost vehicle? Is it required like a car?
Cheers!
Ryan
Scoot’n is fun!
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charlie55
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Post by charlie55 »

The first question you need to answer is whether or not you are required by law to have insurance. If so, then the relevant statute most likely prescribes the minimum coverage levels. If not, you then need to ask yourself how much you are willing to lose if you're found liable for any injury or property damage you might cause. Granted, our rides are relatively small, but they can hit a pedestrian or cause a chain-reaction crash just as easily as an 18-wheeler. One good lawsuit without liability coverage and you'll likely be living in a cardboard box somewhere.

Then there's the question of collision coverage. Since I only buy used, I don't bother with it. But if replacing your ride would cost you more than you could afford at any instant in time, it's well worth considering.

I have an umbrella policy that requires I maintain a minimum of $500,000 liability coverage on all of my family's vehicles. I cover my scoot in that amount with Progressive at a cost of less than $150 a year. (Sometimes there are advantages to being an old fart.)
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Dooglas
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Post by Dooglas »

Are you asking whether California requires bodily injury and property damage liability insurance on a motorcycle or scooter over 50cc? The answer to that is yes. Or are you asking what others think about optional insurance coverage such as collision, comprehensive, or uninsured motorist?
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ChuckyD
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Post by ChuckyD »

I always fiddle with the coverage sliders....
And always end up paying about $100.
I've also called before, and the reps seem to know how to bring low and good coverage prices forward.
sc00ter
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Post by sc00ter »

You didnt post your age, riding history and location. If your young, first scooter and live in a busy area then it will be much different then me. Im old, ridden since 14 and live in a semi-crime prone area. Shop around and note the hidden things most people dont look at, like covered amounts/limits and such. Im not a insurance expert but would love to learn how it works so I can get the most coverage with a fair price. I use Progressive for the cars and 2 wheelers. Whats weird is they are not combined, so if I drop one policy it does not affect the others premium. Homeowners is thru Allstate but I would love to combine them to Progressive. Progressive has been pretty good to us, I get a bad vibe from Allstate.
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ryanbates
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Post by ryanbates »

I am 43 and this is my first scooter. Only have a permit liscence. I am an experienced cyclist and those bicycle skills translate but not totally. I don’t live in a super crime area. But there are some bad in every town.
Scoot’n is fun!
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ryanbates
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Post by ryanbates »

It sounds like it would be best to have as much coverage as possible until I get more experienced and get more years under my belt riding.
Scoot’n is fun!
sc00ter
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Post by sc00ter »

There is a math equation for when you should drop full coverage insurance and go with just liability, but the wife and I keep full coverage on all the vehicles. 5 total. Whats interesting, I dont have the numbers handy, but adding full coverage is not as much as you would think versus liability only. All of our vehicles are paid off and we pay the full year up front for the bikes and the full 6 months for the trucks up front also. Yes, that is how Progressive does it. Year on bikes, 6 months on cars. Full coverage also helps if your neighbor gets drunk and knocks your scooter over. I didnt trust him enough to "make it right"-his words-and just paid my deductible and let the insurance company handle it. I never got my deductible back because he never paid Progressive and the knock over ultimately went against his credit. He is still driving the same beat-up unreliable car and I overheard him on the phone with the collection agency almost in tears because of the credit score hit. So, if you can afford it go the whole hog with full coverage.
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k1dude
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Post by k1dude »

Check multiple insurance companies. My full coverage quotes ran from $800 to $72. That's not a typo.
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Dooglas
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Post by Dooglas »

ryanbates wrote:I am 43 and this is my first scooter. Only have a permit license.
I strongly advise you to take the Motorcycle Safety Foundation course to obtain your full motorcycle license. It will make you a much better rider and will give you a discount on your insurance coverage.
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Remous
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Post by Remous »

I pay 80 dollars a year for mine and not only does that cover my two scooters, it also covers my 883 sportster. call and shop around, also take the safety course for a discount.
Clydeo
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Too much!

Post by Clydeo »

My Progressive insurance is $85 for two bikes for a year! That quote is WAY too high!
PhillyKick
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Post by PhillyKick »

I was paying 148 for me and my roommate, slightly more than minimum coverage, two early-20's, unmarried, not the safest neighborhood, on fresh motorcycle permits. I think full, maxed out everything including theft and collision was like 1200, though.
Always ready to ride in the Philly area, hit me up.
ucandoit
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Post by ucandoit »

I pay $35 a year for min. required coverage. The scooter is worth around $1000. I try to be careful where I park it while shopping; worry a bit about theft.. Always garage it at night.
Tac1
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Post by Tac1 »

My buddy 50 is only $20.80 a year thru state farm... then again I've got a clean license along with 3 other motorcycles insured thru them. I've shopped around before and no other insurance company can compete with my policy. I've also been with State Farm for 19yrs now
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Dooglas
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Post by Dooglas »

These insurance discussions on MB are always somewhat misleading. First because each persons situation is different - age, driving record, credit rating, location, etc. And also because we are talking apples and oranges about the coverage. Some have liability, collision, comprehensive, and uninsured motorist coverage. Others have the minimum liability required by their state. And often the level of the liability coverage is at such a low level, it is inadequate for the actual financial risks to the rider. Liability insurance levels should really be based on the possibility of a claim/lawsuit and the assets the rider is trying to protect - home, income, savings, property, family assets, etc. Those who don't understand this stuff should have a serious discussion with someone else who does.
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