Does anyone rent their bikes out?
Road Master
Joined: May 2019
Posts: 953
Likes: 954
From: Daytona Beach
[QUOTE=FLHD89;21251590]FL does not require motorcycle insurance weirdly enough. All of these apps have included insurance coverage. The riders do leave a deposit. I would have my attorney look over their insurance docs to make sure ITs sufficient.
Kinda, sorta true.
Much like the state's motorcycle helmet law, Florida motorcycle insurance laws require you to carry only minimum coverage to pay for injuries sustained in a crash. Instead of any specific coverage or policy, Florida motorcycle riders must carry at least $10,000 in medical benefits to protect you against liability in crashes. This coverage can come from a dedicated policy or from your regular health insurance.
Kinda, sorta true.
Much like the state's motorcycle helmet law, Florida motorcycle insurance laws require you to carry only minimum coverage to pay for injuries sustained in a crash. Instead of any specific coverage or policy, Florida motorcycle riders must carry at least $10,000 in medical benefits to protect you against liability in crashes. This coverage can come from a dedicated policy or from your regular health insurance.
Club Member
Joined: Jun 2018
Posts: 4,052
Likes: 5,159
From: Below the Gnat Line
Short answer: No
Long Answer: HELL no!
Insurance isn't for Florida, it's for you're own protection and that of your house, your car, your IRA, etc. No way in hell I'd rent out a motorcycle. This makes me think of the bikes in the Rider's Course, I took. The bike they put me on, had road rash on TOP of the mirror. I'm sitting there thinking "How in the HELL do you do THAT?!?!" No way, Jose.
Long Answer: HELL no!
Insurance isn't for Florida, it's for you're own protection and that of your house, your car, your IRA, etc. No way in hell I'd rent out a motorcycle. This makes me think of the bikes in the Rider's Course, I took. The bike they put me on, had road rash on TOP of the mirror. I'm sitting there thinking "How in the HELL do you do THAT?!?!" No way, Jose.
Seasoned HDF Member
Joined: Mar 2021
Posts: 18,460
Likes: 3,723
From: backwoods
The insurance is provide by the company that's up the rentals not his and nothing to do with Florida.
Also this is bike he is going to rent or sell. Not whoring out his ol.
They provide $25k to repair the bike.
Also this is bike he is going to rent or sell. Not whoring out his ol.
They provide $25k to repair the bike.
Club Member
Joined: Apr 2016
Posts: 11,590
Likes: 8,418
From: Inland NW
I have a bike I hardly ever use anymore. 2010 Sportster 1200. Instead of selling it like Im considering renting it.
I found Eaglerider. Seems legit on the surface. Its all insured etc.
I can easily sell this bike to an LLC to reduce my exposure.
I did some quick math. If I set the price to $50 a day (by far the least expensive bike in my area) and its rented for 15 days thats $750 a month and an extra 9000.
has anyone tried this? Would love to hear your feedback
I found Eaglerider. Seems legit on the surface. Its all insured etc.
I can easily sell this bike to an LLC to reduce my exposure.
I did some quick math. If I set the price to $50 a day (by far the least expensive bike in my area) and its rented for 15 days thats $750 a month and an extra 9000.
has anyone tried this? Would love to hear your feedback
Grand HDF Member
Joined: Mar 2007
Posts: 4,923
Likes: 266
From: Deep in the heart of New Jersey
I bought a old cop bike the other day. And one of the questions the ins co asked was if I'm going to rent it out, plus who else id going to be riding it. Then when I was at MV, they asked again if I was going to rent it out. Oh, and the ins co wanted to know if I was going to use it for making deliveries or as a taxi. Is that a real thing people do these days?.,,,
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Seasoned HDF Member
Joined: Mar 2021
Posts: 18,460
Likes: 3,723
From: backwoods
I bought a old cop bike the other day. And one of the questions the ins co asked was if I'm going to rent it out, plus who else id going to be riding it. Then when I was at MV, they asked again if I was going to rent it out. Oh, and the ins co wanted to know if I was going to use it for making deliveries or as a taxi. Is that a real thing people do these days?.,,,
Myself I would sell it, but I am not into being a landlord either.
Stellar HDF Member
Joined: Jul 2020
Posts: 3,443
Likes: 2,457
So my buddy doesnt have a bike and he rents them when I go there and we ride. Last time he used some private rental app. I forgot what it is, maybe rideshare or something. He got 2021 RG. For 4 days, it ran him little over 600 bucks. There was a 250 miles limit per day.
He rented from some dude that lived in an apartment. We think that guy had few bikes he was renting and just made a living like that. It could be quite lucrative. Of course, you have to not give a **** about the bikes. Insurance was paid by my buddy that covered everything in case something happened. I know EagleRider has same thing for 30 per day and it covers everything.
Personally, nobody sits on my bike lol. But, if i can see how people buy them and rent them out to make money. Its actually pretty smooth running process. We didnt even meet the guy. Everything was done through the app.
He rented from some dude that lived in an apartment. We think that guy had few bikes he was renting and just made a living like that. It could be quite lucrative. Of course, you have to not give a **** about the bikes. Insurance was paid by my buddy that covered everything in case something happened. I know EagleRider has same thing for 30 per day and it covers everything.
Personally, nobody sits on my bike lol. But, if i can see how people buy them and rent them out to make money. Its actually pretty smooth running process. We didnt even meet the guy. Everything was done through the app.