Collision insurance
Thread Starter
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Ultimate HDF Member
Joined: Jul 2006
Posts: 9,335
Likes: 13
From: MA
Collision insurance
Do most people carry collision on their bike? I have an '06 RK Classic and just
got my renewal quote. On a $1,386 policy, $819 of it is just for collision! The fire,
theft and comp(vandalism) is $215. If I drop the collision my policy will drop
from $1,386 to $567. That's a huge drop! Unfortunately since I live in MA where
the state sets the rates and people like Geico and Progressive aren't allowed
to operate, this is the rate no matter what insurance company I use.
So...do most people carry collision if you don't have to? I know if you have
a loan on the bike collision is required by the lender. Mine's paid for so this
isn't an issue. Also, I have a spotless driving record, so this isn't a factor.
got my renewal quote. On a $1,386 policy, $819 of it is just for collision! The fire,
theft and comp(vandalism) is $215. If I drop the collision my policy will drop
from $1,386 to $567. That's a huge drop! Unfortunately since I live in MA where
the state sets the rates and people like Geico and Progressive aren't allowed
to operate, this is the rate no matter what insurance company I use.
So...do most people carry collision if you don't have to? I know if you have
a loan on the bike collision is required by the lender. Mine's paid for so this
isn't an issue. Also, I have a spotless driving record, so this isn't a factor.
Thread Starter
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Ultimate HDF Member
Joined: Jul 2006
Posts: 9,335
Likes: 13
From: MA
RE: Collision insurance
I figure if I do 20k damage to my bike in a collision I won't be around
to worry about it. But it's a valid point. I haven't had an accident in 28
years of driving and it's tough to swallow this much money just for the
collision. I figured if I ever needed the insurance it would be because
it got stolen.
to worry about it. But it's a valid point. I haven't had an accident in 28
years of driving and it's tough to swallow this much money just for the
collision. I figured if I ever needed the insurance it would be because
it got stolen.
Seasoned HDF Member
Joined: Sep 2006
Posts: 25,962
Likes: 9,732
From: Montana & Arkansas
RE: Collision insurance
Geez... MA has a rep for being socialistic, ... but the State sets ins. rates instead of competitive forces? And freezes out some large carriers?
Check on some larger deductibles, if you haven't yet, cause a safe driver with money in the bank may feel OK with large deductibles. Agree with the others that collision (which usually has other coverages thrown in), is a good thing to have.
Check on some larger deductibles, if you haven't yet, cause a safe driver with money in the bank may feel OK with large deductibles. Agree with the others that collision (which usually has other coverages thrown in), is a good thing to have.
Thread Starter
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Ultimate HDF Member
Joined: Jul 2006
Posts: 9,335
Likes: 13
From: MA
RE: Collision insurance
Good point on the higher deductible Big Sled, I'll check this out. I also want to make
sure my replacement cost includes stuff I've added on after I bought it.
sure my replacement cost includes stuff I've added on after I bought it.
Thread Starter
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Ultimate HDF Member
Joined: Jul 2006
Posts: 9,335
Likes: 13
From: MA
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Road Captain
Joined: Aug 2006
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RE: Collision insurance
I carry comp and collision on mine (as well as uninsured motorist) Don't feel like trashing $20 Gs in the case of an accident.
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Elite HDF Member
Joined: May 2005
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RE: Collision insurance
We have full coverage but have a very high deductible. The only time we would even put a claim in, is if was substantial. I'm talking thousands of dollars up to a total right off. I don't know if we could afford to replace our bikes in the event of a total right off. Small price to pay, if you ask me. Waste more than the cost of the premium in a year on stuff I can't even justify.
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