insurance question

Discussion in 'General VFR Discussions' started by GoForARide, Jul 13, 2009.

  1. GoForARide

    GoForARide Banned

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    my bike insurance covers only 20k for health if i get hurt.... meaning i get to sit in the hospital for a day and half and never see a dr...

    who do you use and how much does it cover?
     
  2. Fungus54

    Fungus54 New Member

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    All my coverage is with American Family and when I asked about an '06 VFR they quoted me $200/year for full coverage. I bought the bike and went to insure it. When they put the VIN number in the quote came back at $1000/year because they said it was a sportbike. I then called Progressive who quoted and billed me for just over $200/year. They have been great to deal with.
     
  3. GoForARide

    GoForARide Banned

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    but what ammount of health coverage do you have?

    iv only 20k as mentioned, thatl barley get me in the hospital let alone get help. If i get hurt on a bike it oculd cost my house and everythign in it accept my wife.
     
  4. Fungus54

    Fungus54 New Member

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    Sorry GoForARide, I got off track. A great question that got me asking questions. Progressive said if the other party is not at fault, I and my health insurance are responsible depending on how my health insurance plan views motorcycle riding. The maximum health coverage Progressive would provide is $25,000 so your 20k doesn't sound uncommon. If I opted for the health coverage it would double my premium.
     
  5. Keager

    Keager Member

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    I went about 50K, mainly because I'm thinking if I get hurt on a bike it's goinng to be worse than in the cage. But with Country Companies, it has to be the same across all the vehicles.
     
  6. Pliskin

    Pliskin New Member

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    Hi GoFor. I'm in the insurance business, however, I do all commercial lines and I'm not up to speed on personal lines. But I'll throw my 2 cents in.

    If I recall (and I could very well be wrong), I believe that in the event of an accident, your motorcycle policy would respond first, and then your personal health insurance for anything above the $20K.

    Of course, if you don't have health insurance, that's a different story.

    My suggestion would be to contact your agent/broker or insurance company directly if you don't have any agent/broker and ask them how it would respond. You can also buy additional limits if you choose (trust me, for a price, you can insure anything).


    Now to bore anyone who cares to read about insurance: :eek:

    I strongly recommend having an agent/broker to handle your insurance. They get paid for a reason: To help you, their client. Sure, you can go online and get Geico, Progressive, Allstate or whatever, and they'll even offer you a comparison of what what the "other company's" price is. But understanding what you policy says is critical. An insurance policy is a legally binding contract. Its long and drawn out with verbiage that can be confusing and easily misinterpreted. We buy insurance to cover our most important tangibles, including our lives. You need someone on your side (i.e the agent or broker) so that in the event of a claim, you have someone to help you.

    When you need your new home wired, do you do it yourself or call an electrician? When your sick, do you self diagnose or go to a doctor? Even though I'm in the business for 20+ years, I still have an agent to handle all my personal insurance because that's what they understand.

    Lastly, any reputable agent will have access to numerous companies. So while you can go on-line and get 3 or 4 quotes, a decent agent may have access to 10 or more companies.

    There's even a carrier out there now (won't mention names) who has a sliding scale: You tell them what you want to pay and they design a policy for you. I'm not saying we all have disposable money, but how can you possibly get the correct and sufficient coverage if you tell them you can only spend "$X"?

    Sorry for the rant, but I hope that folks don't take buying insurance lightly.
     
  7. GoForARide

    GoForARide Banned

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    Called them up, the 20k health is not actually for us it is for the other person if you are at fault. There was an option to get health coverage for myself if the other person did not have insurance or enough insurance. however it was like 5k. was a joke.

    the only option is actual health insurance.
     
    Last edited: Jul 15, 2009
  8. Fizz

    Fizz New Member

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    What I would do is get your own health insurance policy through company like Blue Cross, I had them for health in the interim period between jobs. Never made a claim on it, but it was easy enough to get.

    Health insurance is the only way to go, injuries can easily exceed the limits of what any MC insurance companies would even offer.

    I would HIGHLY recommend getting Aflac to cover expenses not related to the injury itself. Basically, your health insurance would cover your doctor, meds, rehab, therapy, exams, etc. what your health insurance will not cover is Gas you need to go to your exams, money to eat, money to pay your bills, etc. basically anything that your health insurance will not covered, but is still needed for you to live.

    Just something to think about.
     
  9. GoForARide

    GoForARide Banned

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    ya, i agree. thing is i am going to be riding my bike for work (much more often than usual because of..) to save a couple hundred in gas every month.

    Health insurance would cost more than this.
     
  10. Spectre

    Spectre New Member

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    Be advised: If you opt for most any medical coverage with a motorcycle or auto policy, in the event of an accident in which you might ask the insurer (e.g., Progressive) to pay a portion of your medical expenses, they will not do so unless and until you sign over complete access to ALL of your past, present, and future medical records. Fuck that.
     
  11. Fizz

    Fizz New Member

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    Truth be told, MCs don't save you any money at all.

    I don't own a car in conjunction with my bike, I spend just as much as I would if I caging it.
     
  12. GoForARide

    GoForARide Banned

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    Starting monday ill be saving over 200 a month in gas alone.

    but as far as insurance. the most medical they even offer is 7k

    7k is pointless.

    hospital beds are 20k a day.
     
  13. Fizz

    Fizz New Member

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    You'll be saving 200/month in gas, but at the expense of having another vehicle to maintain, insure and register. Tires wear out more quickly, chains need lubrication (and it aint cheap), valves need more frequent adjusting, more frequent oil changes, more trips to the gas station, shop labor is more expensive... oh and that initial expense of buying all your riding gear, bike mods, etc. Did I forget the cost of the bike itself?

    I just replaced my chains/sprockets, that alone was 200 dollars. Another 100 dollars for the speedohealer to go with it, rented a shop with all the tools for 20 dollars/hr. investing in the tools is even more expensive.

    Just saying, everyone who rides because MCs are more fuel efficient (mine isn't 30-35 MPH) gets a reality check.

    You should only ride because you like to. Any other reason you'll start to hate riding.

    Bust out a calculator for just how long you'd have to ride to make up for it VS your car, all expenses included. It's quite shocking.
     
  14. powerslave

    powerslave New Member

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    I have been pretty quick to bash MPIC (Manitoba Public Insurance) because premiuns are high......but....If I wipe out big time I will NEVER have ANY hospital, medication, rehab etc..expense...loss of salary and bike repair is also included.
    -Basically worry free riding...but it ain't cheap!!!!
     
  15. GoForARide

    GoForARide Banned

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    sounds like it might be what im looking for. how do i get ahold of them?
     
  16. GoForARide

    GoForARide Banned

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    Iv done the math. driving up to 200 or more miles a day. ill be doubling my gas mileage. That alone will be saving me about 200 dollars a month.

    I haven't been riding long, but i know it does not cost 200 a month to ride.

    also driving other types of vehicles costs money as well. I just had to put a new clutch in my truck. And still need catalytic converter gaskets.

    Don't get me wrong, I LOVE riding, but I love saving money as well.
     
  17. Fizz

    Fizz New Member

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    200 dollars a month in gas, I can see that. What I can't see is how paying for the bike, insurance, registration, gear, mods and maintenance is going to save you any money, even when gas is 200/month cheaper. As you mentioned you still have to pay to get your truck fixed if it breaks, now you have a bike to fix if it breaks too; I seem to recall you making threads looking for parts and such..

    You're probably AT LEAST 2000-2500 dollars in the hole for all the things you need to just start riding. What's more you need to pay into the bike as you operate it over time as well. You'd have to ride a year just for the gas savings to cover you initial investment.

    I don't own a car with my bike. I spend just as much I would as if I drove a car of similar value (I understand your bike is cheaper in initial cost/insurance).

    6200 dollar bike, 800/year insurance, 120-140/month in gas (I ride a lot), 10 /mo for chain lube, 30 dollars approx. every 2 months for oil/filter.

    Right now my fork oil/seals need to be replaced, valves need to be adjusted, rear tire (200 dollars) need to be replaced.

    I've done 26k miles on two wheels since I started riding a year and a half ago.... motorcycles aren't cheaper to operate. A fuel efficient, reliable car works much better.

    But if you like riding, no expense will stop you.... all the more power to you!
     
  18. powerslave

    powerslave New Member

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