thanks vifferfun.
would it actually be worth it?! im trying to look at it on both sides. im gonna put numbers here:
let's say bike is worth 2k.
comprehensive deductible: 500$
quoted value: 1500$ (btw, riders plus is the company im dealing with. the broker agent guy stated that the pay out for the bike would be based on the blue book value which is 1500). another company told me that the payout value would be the appraisal value b4 purchasing the policy.
premium: extra 200$ a year.
so technically, to get a payout from theft, i would have paid 500$ (deductible) + 200$ (extra premium); and if the bike is stolen this year, pay out would be max 1k. i would have paid 500-700$ (on top of original investment of 2k; bike purchase) to get the possible 1k pay out. the 500-700$ could have been put towards another bike.
i guess what im trying to say is if it's worth it?! from insurance and consumer's perspective considering the value of the bike?!
regarding other covered aspects like vandalism and stuff, it may not be worth while if the bike is just damaged due to the value of the bike. if it was a more expensive bike then of course it is worthwhile. ie: there's 500$ deductible, damage would have to be over 500$ to claim something plus paper work and hassle and all. but if the bike is stolen, then it's the whole thing/value.
i dunno. im just trying to reason this out within myself and hearing what other people with more knowledge has to say helps. i hope i made sense in my post
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