The bodily injury is a sticky point. The minimum requirement by most States is probably way too low.
My concern is not my Harley but what may happen if someone got serious hurt and blamed it on you. It's really easy to loose in court even if it is not your fault.
Just how should someone determine that coverage.

 

I have found that buying insurance is like walking through a mine field. All of their technical terms, and assumptions that you know what they mean by that. You never know if you made a good choice until you need them, then they show their true colors!!

 

This is true, but what is your exposure? By that I mean, what do you have to lose? If your net worth is negative, meaning you have more debt than assets then you probably don't need more than the minimum insurance.

But if you are on the positive side with say $300,000 in your 401K, bike paid off, car paid off, half your mortgage on your house paid off, and earning a hundred K a year in salary, perhaps you should get more than the minimum. If your net worth is $400,000, get $400,000 in insurance. Difference in price is not that muck.

But I always decline the PIP. It's very expensive yet only pays perhaps $2500 in medical bills. You should have other insurance to cover you own medical bills.

 

PIP?? You referring to medical? I decline medical for me since I am retired on Medicare with a F plan.
I do have some collision but at a high deductible since I would only make a claim at a full loss.
I know my BI is way too low. I have 1 million on the three cages. Been that way since my agent said the same as you. Of course, I did the progressive on line and just took the minimum. (My risk taking nature I guess)

 

For starters, liability coverage on bikes is inherently lower than a car.

But this should be subject to state laws. Yes, the state minimums are usually not a good amount, in Florida for example it is 10/20 (10 per person, 20 per accident) this means you have 20k of total coverage but no one person can receive more than 10.


Personally I have 25/50 and 25k of Property Damage. Reason being, is if I cause more than 25 thousand dollars of property damage, I'm probably not going to be alive to deal with it anyway.

Now, if you co-own your bike with say a spouse or relative, then you want to raise them and not have my line of thinking, because they will be just as legally liable as the rider.

@Twoglides, if you tell me what your coverages are (or anyone else for that matter) I can explain to anyone exactly what they have and what is covered in an easy to understand way.

 

PIP is very different from state to state and doesn't even exist in some, so I would be careful on comparing your PIP to that of someone in another state

 

Never seen the term PIP on my VA policy

 

 

Does the unbrella on your homeowners determine what your libility needs to be on cars and bike. My cages and homeowners is State Farm. Think I would need the bike moved back State Farm from Progressive to fall under my home owners umbrella policy?

 

Thank you warjorge, it's always interesting to hear from those associated with the industry providing guidance to questions. I appreciate you and others sharing your knowledge! The main reason I began shopping around is that I'm a new HD owner and was poking around on the HD website then found the insurance section. Out of curiosity I began to request quotes playing around with deductibles and coverages similar to current State Farm coverage and found that the HD insurance offered some additional coverages (i.e. trip inturruption, gear, roadside assist) which I was not aware I had with my current provider. Throught my research these past few weeks I have in fact educated my agent in regards to additional coverages by reading ammendments that came in my most current premium stating those coverages were included in comp and collision through state farm. Once I presented that information my agent then produced a document indicating State Farm did infact integrate those coverages into their motorcycle policies back in 2014 at no additional premium costs. With multi-vehicle and homeowners policy discounts my current premium costs are very comparible to or lower than the HD insurance and the other companies I've requested quotes from and has lower deductible than any of the others. I think I'll have to remain with State Farm since I'm set up with them already and the costs are very similar although an agent change might be in the works...........