Insuring a Parked Bike - No company will do it !?!?! | GTAMotorcycle.com

Insuring a Parked Bike - No company will do it !?!?!

K

KCToronto

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Hi,

I'm trying to get Comprehensive-Only insurance for my motorcycle .
Every company says " We will not do that for New Business "

Jevco doesn't do Comp-Only, and that was my insurance carrier .

Can someone please help me out ? Each day without insurance is freaking me out .

Thank you.
 
I was able to do that with my ZX-10R but only because I had it fully covered by State Farm previously. After i broke my collarbone I told my agent i wasn't going to ride it on the street anymore, she suggested suspending that coverage and putting fire & theft only on it. I had it like that for two years.

As far as i know, if you're trying to start a new policy i doubt anyone will take you.
 
I think you can only do that in the example scenario of caboose483.
There's no sense for an insurance company to just insure a parked bike IMO.

What's your reason/motive to just want comprehensive coverage? Does the bike not run?
 
Well, it's a damn Piaggio MP3-250

The thing requires $700 in "Scheduled Maintenance"
The damn thing needs it's rear wheel replaced every 3,000km !!! That's about $200 per month for me in rear-wheel changes alone.

So riding the damn thing doesn't make sense. Do you know anyone that'll buy a black MP3-250 ? I'll be a damn motivated seller.

Full Insurance costs me $1,700 per year . So I just want Comprehensive-Only for like $400/year or something.
 
sounds like your MP3 has an alignment problem if you're burning up tires at that rate. Call George at Corsa Mechanica.....he can help you out.
 
The Piaggio MP3-250 is notorious for burning rear tyres - requiring replacement at 3,000km or less .
(due to small 12" tyres on a 500 lbs motorcycle, and a ton of friction due to two front wheels)

Enthusiasts are installing car tyres onto their MP3-250s, but no one knows how safe this is .

If I can't get insurance, I'll need a cheap storage solution. UHaul was costing me $105/month to store in a climate-controlled storage unit.
 
Not sure if you have auto insurance but it might be worth the call to your auto company and explain the situation to them. They may be willing to help you out as it seems like a low risk.
 
KCToronto said:
Well, it's a damn Piaggio MP3-250

The thing requires $700 in "Scheduled Maintenance"
The damn thing needs it's rear wheel replaced every 3,000km !!! That's about $200 per month for me in rear-wheel changes alone.

So riding the damn thing doesn't make sense. Do you know anyone that'll buy a black MP3-250 ? I'll be a damn motivated seller.

Full Insurance costs me $1,700 per year . So I just want Comprehensive-Only for like $400/year or something.
Click to expand...

Sounds like you should just sell the Damn thing and move on.
 
KCToronto said:
Well, it's a damn Piaggio MP3-250

The thing requires $700 in "Scheduled Maintenance"
The damn thing needs it's rear wheel replaced every 3,000km !!! That's about $200 per month for me in rear-wheel changes alone.

So riding the damn thing doesn't make sense. Do you know anyone that'll buy a black MP3-250 ? I'll be a damn motivated seller.

Full Insurance costs me $1,700 per year . So I just want Comprehensive-Only for like $400/year or something.
Click to expand...

Put a snow chain on that and turn it oooooout into your winter beater!!! woot woot. Drop the theft coverage...no one is gonna stealing a salty scooter! In fact I'm quite keen on my own idea! Perhaps I may be interested in a deeply motivated seller.....as a coy consumer myself.
 
KCToronto said:
The Piaggio MP3-250 is notorious for burning rear tyres - requiring replacement at 3,000km or less .
(due to small 12" tyres on a 500 lbs motorcycle, and a ton of friction due to two front wheels)

Enthusiasts are installing car tyres onto their MP3-250s, but no one knows how safe this is .

If I can't get insurance, I'll need a cheap storage solution. UHaul was costing me $105/month to store in a climate-controlled storage unit.
Click to expand...

No doubt its heavy. But i don't buy the idea that an extra wheel causes extreme friction or drag.
I went quickly onto Modern Vespa and found this:

http://modernvespa.com/forum/topic35817

Good luck!!
 
KCToronto said:
Well, it's a damn Piaggio MP3-250

The thing requires $700 in "Scheduled Maintenance"
The damn thing needs it's rear wheel replaced every 3,000km !!! That's about $200 per month for me in rear-wheel changes alone.

So riding the damn thing doesn't make sense. Do you know anyone that'll buy a black MP3-250 ? I'll be a damn motivated seller.

Full Insurance costs me $1,700 per year . So I just want Comprehensive-Only for like $400/year or something.
Click to expand...

What are you asking for it?
 
I`m continuing to call different brokers and companies for my options on insurance.
So far no luck.
I`m exploring low-cost storage solutions now.

I`ll sell it for the right price, but I love the bike. I just can`t afford full insurance right now.

Details:

2007 Piaggio MP3-250 - Black
- 15,000 km - bought on April 2009.
- 1 year Motoretta aftermarket warranty remaining, until April 2012.
- Genuine Piaggio MP3 Top Case, Rack and Mount assembled.

Repair history: Insurance repaired for 2 bike drops.
There is an on-board computer that logs the dates and mileages of it's Scheduled Maintanences.

Requires 1) all new tyres, and 2) requires it`s next Scheduled Maintenance.
 
KCToronto said:
Requires 1) all new tyres, and 2) requires it`s next Scheduled Maintenance.
Click to expand...

Re the car tire: A lot of Goldwing riders use a car tire on the rear and it's one of those "Dark Side" arguements that go on forever. I know one rider who has gone that way and documented the advantages. Using the right tire he hasn't had any problems and would never go back to a M/C tire.

Re the sheduled maintenance: Do it yourself. A lot of dealer shops are a rip off. The last time my wife took her Chevy into the dealer for an oil change they suggested she have some things checked out. They included the fuel injection, cooling sytem, e system etc. It was about $800 just for the check outs. I told her to "Check out" of the dealer and go to a good indy. He does most of what the dealer was going to do @ $800 for free while draining the oil.
 
OP, how old are you? How long have you been riding?
 
This is ironic cause SF was giving me trouble due to having a plated uninsured bike sitting for a year.. which is apparently illegal :S. If you DO let it sit uninsured, you are required to return the plates to the ministry. Just a tip in case you plan on re-insuring it later.
 
Twoth said:
This is ironic cause SF was giving me trouble due to having a plated uninsured bike sitting for a year.. which is apparently illegal :S. If you DO let it sit uninsured, you are required to return the plates to the ministry. Just a tip in case you plan on re-insuring it later.
Click to expand...

The plates shouldn't be of any interest to your insurance company. Ministry also doesn't really care if you bring your old plates back, unless you want a refund on your remaining time on the sticker or trade them in for newer ones.
Plates are owned, not rented.
I believe having a plated, uninsured vehicle would only be an offense on public property not private.
 
DemonPig said:
The plates shouldn't be of any interest to your insurance company. Ministry also doesn't really care if you bring your old plates back, unless you want a refund on your remaining time on the sticker or trade them in for newer ones.
Plates are owned, not rented.
I believe having a plated, uninsured vehicle would only be an offense on public property not private.
Click to expand...

I'm just relaying what I was told by the insurance companies. They say it's illegal to own a plated uninsured bike even if parked in my garage. They almost went as far as not wanting to insure me because they say it was an illegal act. Sounds as stupid to me as it does to you, but apparently it's the law.
 
Twoth said:
I'm just relaying what I was told by the insurance companies. They say it's illegal to own a plated uninsured bike even if parked in my garage. They almost went as far as not wanting to insure me because they say it was an illegal act. Sounds as stupid to me as it does to you, but apparently it's the law.
Click to expand...

Perhaps when you cancel the insurance on your vehicle, you are required to inform the MTO (since they still believe that your insurance policy is in-force from when you last renewed your plate).
 
Twoth said:
I'm just relaying what I was told by the insurance companies. They say it's illegal to own a plated uninsured bike even if parked in my garage. They almost went as far as not wanting to insure me because they say it was an illegal act. Sounds as stupid to me as it does to you, but apparently it's the law.
Click to expand...


It would be neat if someone could verify that 100%. I know insurance agents like to pull stuff out of their behinds sometimes. It strikes me as ridiculous for them to dictate what I can do with my vehicle on private property with plates I own.
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