Author Topic: Insurance! TO Insure or NOT? (Read 5722 times)

mike · « **Reply #15 on:** December 07, 2005, 10:31:29 AM »

I can't ride now, but when the Bandit was on the road-->I had state minimums + $1000 ded comp. I did add 10,000 medical when I went on long rides or ralleys away from home, but cancelled it when the ride was done, it was cheap that way. Yah, and I know most accidents happen close to home, blah,blah,blah. TX and SC are th only states I know...

Your Florida statement really suprised me, but you were right:
http://motorcycles.hsmv.state.fl.us/cycles.cfm?cat=0

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Insurance for Motorcycles
* Is insurance required for motorcycles in Florida?
Under certain circumstances Yes. Insurance is not required to register motorcycles as with four-wheel motor vehicles. However, if a motorcycle operator is charged in a crash with injuries, then the owner or owner/operator is financially responsible for bodily injuries and property damage to others. If no liability coverage was in effect, then bodily injury/property damage liability insurance must be purchased and kept for three years to avoid license and tag/registration suspension or to reinstate license and tag/registration after suspension.

Daytona · « **Reply #16 on:** December 07, 2005, 11:28:26 AM »

At least you don't have to grapple with should i or shouldn't I! Hey PeteSC, is this question for me? If so Geico is who gets my payment on Auto. Like you said! but if you do have a few tangible things these days the liability coverage is a must! While in Augusta a few years back my wife narrowly avoided being a victim of a team of insurance scamer's. They pick out a car that looks like it is well insured, one blocks the other gets bumped, and you know the rest! There is no end to what can be gotten with lawyer ask O.J. I was looking for some insider info because its such a gray area, kinda like the stock market! And even your agent won't tell you which way to go for fear of a lawyer sending him a letter! I find out that if you get medical on a policy it only takes over after your other med coverage doesn't. Bike laws here in FL are a bit diff than most as Ratbike05 said he sold auto policies? unless you are ordered to! or the bank holds your title in fl it reads
MOTOR VEHICLE INSURANCE Chapter 324, Florida Statutes.
Florida's mandatory Personal Injury Protection insurance does not apply to motorcycles. Street legal motorcycles with three (3) wheels and motorcycles with attached sidecars are also exempt from this compulsory insurance requirement. The voluntary purchase of motor vehicle liability insurance is recommended for your protection and the protection of other persons. Failure to carry liability insurance can result in the loss of your driver license, tag(s), and registration(s) if you are involved in a traffic accident, convicted of DUI or other occurrences as defined in the Financial Responsibility Law, Chapter 324, Florida Statutes.

Ok for peace of mind I'm getting the liability? Which covers nothing for me other than if some retired/retarded fossilized sucker has a medication freeze up and pulls that left turn in front of me and the camera isn't running! My wife will still have something cause i doubt i'll be around to set the record straight!!

Sven · « **Reply #17 on:** December 07, 2005, 11:59:53 AM »

This is an organization which provides consumer information on the various kinds of insurance and the things you might consider when selecting coverages. http://www.iii.org/individuals/auto/

mike · « **Reply #18 on:** December 07, 2005, 01:21:22 PM »

Pete's in SC like me... We both have to have bike and car insurance - it's required to carry separate liability coverages if we drive a car and a bike.

Daytona,
Yeah, I guess I'm a little confused too for Florida if I'm reading your post right.

Quote

Ok for peace of mind I'm getting the liability? Which covers nothing for me other than if some retired/retarded fossilized sucker has a medication freeze up and pulls that left turn in front of me and the camera isn't running! My wife will still have something cause i doubt i'll be around to set the record straight.

I'm no lawyer, but that scenario sounds like his insurance should cover damages to you... I thought liability was when I caused the accident and am liable/responsible for the property damages and injury of the party I forced to have an accident. My liability coverage really doesn't do that for me, it protects me financially by paying someone else's medical/property damage in a accident where I was at fault.

Gieco and Progressive have good insurance reps, I'd contact them like Pete said, and talk to a motorcycle rep and see what they advise in your situation. Then maybe a group or lawyer like Sven mentioned to find out all the details, if you think the rep is trying to scam you.

I guess talking about, or going through a bunch of what if's with all of us really is not helping from a Florida perspective. IMHO-I'd take the course of action I mentioned above; find out my best options and insurance deals in Florida and go from there...

Good luck, I hope you get it straightened out..
Ride Safe,
Mike :)

ratbike05 · « **Reply #19 on:** December 07, 2005, 05:36:34 PM »

Mike you are right. Liability is only to cover the other party when you are at fault for an accident. I think Daytona means that if he gets whacked by an old cager who turns in front of him at least there is coverage since he won't be around to prove the old guy was at fault.

Daytona, thanks for the PIP info for the bike insurance. That saved me some time looking through Florida's site.

PeteSC · « **Reply #20 on:** December 08, 2005, 03:26:15 AM »

Daytona, I used to live in Duval, and Hillsborough Counties, but didn't have a bike at the time.

I can't give you much specific advice on what to do, but....I would personally be real scared of exposing myself to more financial risk, just to save a couple of hundred bucks a year.
There's probably some way to save some bucks on insurance, without sticking your neck out too much.
Your injuries from a bike wreck can get real costly. Maybe your work insurance won't quite cover it all, and employers keep trying to exclude coverage for risky stuff done off duty.
If a couple of hundred bucks a year means you have another layer of defense in a lawsuit,or more money to pay hospital bills without selling the kids....I think it's worth it. (Depends on the kids, though..)

At some point 'saving money' isn't worth it.....

B6mick · « **Reply #21 on:** December 09, 2005, 03:44:47 AM »

Full comp insurance, covers me for anything, that bastard Murphy and his missus can throw at me, and the other half. We get change out of a gorilla, for the 2 bikes (B6 and the ZRX) Then again we are rating 1 for life, even the courier van we can get insurance where many couriers can not for any price.

Oldschooler · « **Reply #22 on:** December 09, 2005, 01:04:17 PM »

Daytona,
I have full coverage on my Bandit, $330 a year w/$250 ded. My quote was $196 a year until I added "uninsured motorist" ! That was where all the big cost came from. But then you have to think about it. What type of maroon driving a cage would be driving like a retard anyway and hit me? The answer: probably the type who also didn't have any insurance! So it's all about how much risk you’re willing to take. Personally, if I woke up in a hospital and then heard the retard who hit me had no insurance, THAT would kill me!