Should I get full coverage, or just liability? | GTAMotorcycle.com

Should I get full coverage, or just liability?

Alderson

Well-known member
I know that the obvious answer would be full coverage just to keep your *** completely covered in case anything happens, but I feel like I don't need everything covered with my preowned bike.

I live in a fairly safe town (Around Burlington area) and the bike will be stored in a security system secured garage, so I'm not too concerned about theft. I don't plan on really leaving it parked anywhere unsafe either. Fire... If it catches fire, so be it.. I feel like I would spend more on insurance for that than what the bike is worth before/if it catches fire.

I was talking to one guy, who's bike im hopefully buying, and he said he only has liability and collision really isn't worth it. His insurance is also extremely cheap and he's a brand new rider as well.
 
Your choice and your decision, mine was based on the value of the bike I was riding.

When I had my older bikes I only had liability, when I got my newer bike, I got full coverage, since it was worth more it made sense, there is not much on the bike if it gets wrecked I could fix for less than 500 bucks, which is my deductible.
 
I pay $200 extra for full coverage, with $1k deductible. As you said, it depends on the value of your bike and the value you put to it.
 
Your choice and your decision, mine was based on the value of the bike I was riding.

When I had my older bikes I only had liability, when I got my newer bike, I got full coverage, since it was worth more it made sense, there is not much on the bike if it gets wrecked I could fix for less than 500 bucks, which is my deductible.

That's what I was thinking too. The bikes I'm looking at are only 3 grand, and the number he told me that he pays verses the number I was quoted means that I'm paying a grand more for the full coverage compared to if I just got liability on it.
 
A $3000 retail price bike probably has a book value less than that which is what the insurance co will fight to give you for it in the case of loss/theft/damage. Almost any damage at all (tipover in a parking lot, accident, etc) is likely going to result in a write off as repairs are expensive and quickly exceed the value of many cheaper bikes.

On top of all that, a $1000 deductible is going to apply unless you pay more to lower it, so in the end you might walk away with $500-$750 by the time you're all done.

Lastly, in the case of an accident/drop where YOU are at fault and you decide to just keep it quiet and eat the repairs yourself (in order to avoid a claim), you benefit net zero in the end anyways. As a first year rider the LAST thing you want is an at-fault claim on your record.

If you can add full coverage for maybe $100/year extra, it might be worth it, but there's a lot of situations where it's not on a cheaper bike.
 
A $3000 retail price bike probably has a book value less than that which is what the insurance co will fight to give you for it in the case of loss/theft/damage. Almost any damage at all (tipover in a parking lot, accident, etc) is likely going to result in a write off as repairs are expensive and quickly exceed the value of many cheaper bikes.

On top of all that, a $1000 deductible is going to apply unless you pay more to lower it, so in the end you might walk away with $500-$750 by the time you're all done.

Lastly, in the case of an accident/drop where YOU are at fault and you decide to just keep it quiet and eat the repairs yourself (in order to avoid a claim), you benefit net zero in the end anyways. As a first year rider the LAST thing you want is an at-fault claim on your record.

If you can add full coverage for maybe $100/year extra, it might be worth it, but there's a lot of situations where it's not on a cheaper bike.

I just called Riders Plus and they still want 11XX a year for a 2009 GS500 with only liability. Full coverage is around 1600.
 
I just called Riders Plus and they still want 11XX a year for a 2009 GS500 with only liability. Full coverage is around 1600.

Contact M&W in the insurance section here, they seem fairly competitive!
 
If you finance or take out a loan to purchase the bike the bank may demand full coverage. If you pay cash, it's up to you.
 
I just called Riders Plus and they still want 11XX a year for a 2009 GS500 with only liability. Full coverage is around 1600.

Contact Ronn Calderon @ Dalton Timmis, he gave some very favorable rates on non-supersport bikes to both myself and a relative.
 
I think the problem with me is that I got a speeding ticket last year for 15 over, and also had an insurance claim from when I was t-boned and wrote off my truck, even though it was the other drivers fault.
 
A not at fault accident won't affect your insurance quotes. The speeding ticket will.
 
A not at fault accident won't affect your insurance quotes. The speeding ticket will.

Thanks. Yeah, I'm calling a couple places now. I've got a Quote from RidersPlus for 1200, Aviva for 2100, and I'm just getting in touch with Dalton Timmis now.
I don't know why there's such a big jump between the two, or is that normal?
 
I only get comprehensive and liability. No collision. If it's my fault I'm going to be doing everything I can to avoid a claim anyway.

Although I have considered the fact that except in cases of a single vehicle collision if it's my fault the other party will probably be filing a claim against me anyway so maybe I should have full coverage to get my vehicle repaired as well. Still haven't gotten it though.

Then again, all my vehicles are worth like $5k each.
 
Thanks. Yeah, I'm calling a couple places now. I've got a Quote from RidersPlus for 1200, Aviva for 2100, and I'm just getting in touch with Dalton Timmis now.
I don't know why there's such a big jump between the two, or is that normal?

Just contact the brokers, let them do the legwork. They can check multiple companies at once.
 
Contact M&W in the insurance section here, they seem fairly competitive!

I've had quotes from them.. yeah, cheaper rates from companies underwriting them which I have never heard or and have terrible reputations based on reviews I've seen.
 
It's unfortunate but with how insurance is here in Ontario, especially with motorcycle insurance, you're probably better off to eat the repair yourself, than to make a claim (even at a total loss of 3K). Especially if you plan on riding anytime in the next 6+ years after the accident.
 
Contact Ronn Calderon @ Dalton Timmis, he gave some very favorable rates on non-supersport bikes to both myself and a relative.
Thanks for the recommendation. I gave him a call and just signed up for insurance with him on my bike.
CBR500R for $1300, no collision.

He was friendly and helpful.
 

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