I got liability only for mine, it hasn't been stolen yet
I don't think they are really up there on the list of hot bikes to steal.. but theft coverage would be nice piece of mind. I think I'm gonna look into getting it for my next policy
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looking to keep insurance as cheap as possible, is there any point to adding theft on a policy for a 2005 gs500 with no fairings? do those bikes ever get stolen ? i know most target SS but im not really sure as im new to the whole riding thing
I got liability only for mine, it hasn't been stolen yet
I don't think they are really up there on the list of hot bikes to steal.. but theft coverage would be nice piece of mind. I think I'm gonna look into getting it for my next policy
It's not just for theft -- if some idiot tips over your bike in a parking lot and does some damage, you might wish you has Comprehensive coverage. Typically, the Comp premiums are pretty low (relative to the mandatory coverages). Unless it's expensive, I usually recommend that people buy it.
I'm an Actuarial Analyst for a Major Canadian Insurance Company. I analyse claims patterns to determine overall rate changes, as well as relative premium differences by various risk characteristics (eg. age, experience, claims, convictions, usage, etc.)
Unless it's private, please post insurance-related questions in the forum rather than sending me a PM.
Current: 2001 Suzuki GSXR1000 (4th Season)
Previous: 1996 Honda VFR750F (4 Seasons)
Previous: 1998 Kawasaki Ninja EX250 (3 Seasons)
The cost for fire and theft for me was $102/year. I figured I could spare $8.50 a year in case someone steals my bike.
Vandalism coverage for me was an extra $10/yr. Less than a buck a month for the year? Why not. Especially since I'm going to park at school.
If you want to save money, its the collusion insurance that you should skip. The comprehensive isn't that much of a savings.
This post does not provide any legal advice and readers should consult with their own lawyer for legal advice.
Keep in mind if you're paying a premium of $100 a year for comprehensive and claim (exlcuding fire) will be subject to a deductible - likely of $300
So in effect if something does happen, in a sense you're already paying $400 of the damages yourself.
If you can afford a little claim here and there, save the money on the premium and deductible.
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