Insurance, and Why You Need More of it

[Maielstrom]

Any recommendations on what kind of uninsured/underinsured to go with? I just quoted myself going from bare minimum to 250/500/100 and the increase wasn't anything astronomical. Just not sure on what uninsured/underinsured to quote.

[bfpower]

Thanks for the kick in the pants, Jiggles.

I went and did the math, upped BI/PD to 250/500/100, added 100/300/50 for un/under, plus upped my medical payment coverage for at/no-fault to 10K (animal collisions are a huge problem here). Cost went up from 140/year to 380/year. Increase of $20/month, but I feel a lot safer financially having the upgrade.

[Ninja250gurl]

Originally Posted by DaBlue1

Check with your insurance company to see if they offer Umbrella Insurance. Umbrella insurance is designed to give one added liability protection above and beyond the limits on homeowners, auto, and watercraft personal insurance policies. Umbrella protection is designed to “kick-in” when the liability on other current policies has been exhausted.

Liability insurance is the portion of a homeowners or auto policy that pays for expenses such as the injured persons medical bills, rehabilitative therapy, and lost wages due to the negligence of the at fault person. The liability portion of an insurance policy also covers a legal defense representative if the negligence would happen to land the at fault person in the court room. After adding up all of the medical expenses for the injured and the legal fees of the negligent person, the standard liability in one’s homeowners or auto policy is often not enough.

Ok, thanks for the info!! I will check into that.

[Ninja250gurl]

Originally Posted by lgk

keeping them separate is usually a good idea.
as far as i know, They don't combine unless they are on the same policy.

try moving 100/300/100.

and post a detailed quote, this way we can break down the pricing.

Awesome! Ill try that.. Hopefully ill have time next week to look into this.

[Jiggles]

Originally Posted by Rudiger

I have my insurance through State Farm. I paid the extra to have stacking, so my if my motorcycle insurance falls short the car insurance will kick in. The top payout is still 300k each accident tho. My under insured and uninsured is only 50/100, maybe i should up that?

Yes up the uninsured. The top payout is sort of an irrelevant number. Say you are riding 2up and get hit, each of you would be covered up to 100k so 200 would be payed out for the accident and that would be the most that could be paid out. The top payout number is one you shouldn't worry about unless your from India and ride with all 8 of your kids on the bike. Otherwise focus on the first number since that is the one relevant to all accidents

Originally Posted by iplante

Great post, Jiggles! I'd like your advice, though. I'm not sure about my insurance, I have underinsured/uninsured but would you think this is adequate?

I'd say that's good enough but is that rate for each year or each month? If its each year you can easily afford to hop up to 250k

Originally Posted by Maielstrom

Any recommendations on what kind of uninsured/underinsured to go with? I just quoted myself going from bare minimum to 250/500/100 and the increase wasn't anything astronomical. Just not sure on what uninsured/underinsured to quote.

Always get uninsured/underinsured equivalent to your max liability. It's unlikely that you will ever cause even 100k of damage to another car but it's very easy for 250k of damage to be done to you.

[tooblekain]

Good idea...Im gonna check my AAA policy. If its not sufficient I will need to up it. I know I have high liability amounts but I need to double check with regards to uninsured motorist. I know AAA (in SoCal) doesnt cover injuries to the policy holder. I rely on my medical benefits provided with my job. I may want to look into Aflac coverage too to cover the holes in coverages that my auto/mc, medical, etc do not cover. I know my job offered Aflac a while ago but nobody took it up and I was hesitant to take it because it mentioned on there they do not cover racing (which I do race) but was unsure about trackdays.


It may be a good idea just to have it considering what happened to Ethioknight and I do ride on the street quite a bit and have had many close calls due to idiot drivers.

My last accident at the track was caused because of someone else's boneheaded move. I have always thought I was pretty skilled with accident avoidance. I guess I met my match recently and learned that sometimes you can be the most skilled in accident avoidance and that for some instances there is no way around it.

[I'm Fred]

Originally Posted by lgk

why?

Originally Posted by ai4px

Because he is stastically less likely to have an accident and need insurance b/c they can only ride for 3 months of the year!!

I have also heard that in Canada, Moosehead is a beer. Down here in the states, it is a crime. lol.

Good write up Jiggles.

Because I'll never get butt-****ed like that. Insurance doesn't pay for the health fees lol

[Jiggles]

Originally Posted by I'm Fred

Because I'll never get butt-****ed like that. Insurance doesn't pay for the health fees lol

In the US it does

It's too bad all the people ignoring me cant see this thread. Someone should make a thread that says People ignoring jiggles, look he posted something that's actually worth reading.

[lgk]

i thought they just couldn't see your posts...
are they not able to see created threads you create?

[I'm Fred]

Originally Posted by Jiggles

In the US it does

It's too bad all the people ignoring me cant see this thread. Someone should make a thread that says People ignoring jiggles, look he posted something that's actually worth reading.

Yeah I know they do in the US. Want me to repost your thread? g

[rawbert625]

Thanks for the post. Really opened my eyes. Just upped my BI and got matching UM. Thanks man!

this needs to be a sticky thread!

[Jiggles]

Originally Posted by I'm Fred

Yeah I know they do in the US. Want me to repost your thread? g

Haha no don't repost it, (Alex doesn't like that). I'll just mention the people I know ignoring me like @Renner

Can't remember who else lol

[Miles_Prower]

Here's a question..which would be better for us..100/300/whatever
or 300k CSL. Because then you can access all 300k in the event you get hurt, or if somehow you didnt get hurt and you really messed up someone else, they too can get up to 300k.

[Alex]

Great thread. Between this one and the other survey thread:

How much are you paying for Insurance?

there really aren't many questions left to be answered. Both threads come up right away when you search for "insurance" in the title, so they should be easy to track down. I'm not sure where it would even make sense to sticky them, though, as it seems like a strange topic either within General or Riding Skills or Gear, it's kind of a standalone topic.

[Jiggles]

I don't know what CSL is but it sounds like a good option. It applies to uninsured as well right?

[Jiggles]

Originally Posted by Alex

Both threads come up right away when you search for "insurance" in the title, so they should be easy to track down. I'm not sure where it would even make sense to sticky them, though, as it seems like a strange topic either within General or Riding Skills or Gear, it's kind of a standalone topic.

I wasn't even sure where to post it originally, general really only made sense. And with stickies I think most people just gloss right over them (I do anyway ) so it probably wouldn't make it anymore visible to new or existing members. Maybe someone can just bump it every couple of months

[JELY1990]

Accidents like yours and Ethio's are why I have a 250/500/100 policy.
Some of the posts of yours that I see make me think you're a complete jackass. But I appreciate posts like this and it shows that you truly care about the motorcycling community. Respect for trying to enlighten people who are unaware of what could happen to them if they don't have full coverage.

[Jiggles]

[dfox]

I have been meaning to do this for a loooong time, but reading about the terrible situation that Ethio is in, I've finally pulled the trigger. 170 bucks for the rest of my policy (8 months) to go from state minimum, to progressives maximum. That's a lot less than I just paid for my Arai helmet, or my sidi boots, or my ....

It was a no brainier. It sucks that it took such a tragedy to kick my ass in gear, but it seems like a lot of people are waking up as well, so maybe something good can come out of this for a lot of other riders.

[Jiggles]

Originally Posted by dfox

170 bucks for the rest of my policy (8 months) to go from state minimum, to progressives maximum. That's a lot less than I just paid for my Arai helmet, or my sidi boots, or my ....

That is an extremely good point

[ichibunkid.206]

Originally Posted by Jiggles

I don't know what CSL is but it sounds like a good option. It applies to uninsured as well right?

Combine single limits which are displayed as CSL. Bodily Injury & Property Damage are a combined coverage having one policy limit. Example: 300 CSL

[Chubbs032]

1st helpful post you've made in months...good thread

[diablos991]

Originally Posted by Jiggles

I don't know what CSL is but it sounds like a good option. It applies to uninsured as well right?

From the 10 minutes of research I did; it doesn't look like CSL covers uninsured/underinsured.

It is just a combined maximum payout for the entire incident if you are at fault.

[Jiggles]

Originally Posted by diablos991

From the 10 minutes of research I did; it doesn't look like CSL covers uninsured/underinsured.

It is just a combined maximum payout for the entire incident if you are at fault.

Ah, useless unless you run someone over

[offrdjeep87]

Increasing my bodily injury and property damage from 25/50/10 to 50/100/25 and my Uninsured/underinsured from 20/40 to 100/200 causes my rate to go up $294 for the year ($24.50/month). That sucks, but after reading all this I think its necessary. I'm going to up my coverage tomorrow.

On a side note, does anyone decrease their insurance to the minimum during the off season (if you have one)? Living in the Northeast I can't ride year round and it seems like a waste of money since I won't be getting into any accidents during that time since I'm not riding.

[lgk]

might want to research other companies, that's too much

[Confuzshuz]

Originally Posted by diablos991

From the 10 minutes of research I did; it doesn't look like CSL covers uninsured/underinsured.

It is just a combined maximum payout for the entire incident if you are at fault.

In California, insurance companies offer CSL amounts for both bodily injury/property damage and uninsured/underinsured.

These coverages will vary from state to state.

[Xoulrath]

Great thread, Jiggles. Very useful discussion to be having and there is some great information to be taken from here.

[dfox]

Originally Posted by offrdjeep87

On a side note, does anyone decrease their insurance to the minimum during the off season (if you have one)? Living in the Northeast I can't ride year round and it seems like a waste of money since I won't be getting into any accidents during that time since I'm not riding.

i will be riding year round.

cold weather isn't much fun, but unless it's snowing or raining, I'll be on the bike.

[broilmebk]

Originally Posted by EsrTek

Good post/info (from Jiggles???)

Just upped mine to 100/300/50, the $30 difference in payments a month is well worth being covered decently, instead of being under insured myself!

Lol i was thinking the same thing
Great write up jiggles. Out of curiosity though, how much are you paying for that kind of coverage?

[dfox]

Originally Posted by broilmebk

Lol i was thinking the same thing
Great write up jiggles. Out of curiosity though, how much are you paying for that kind of coverage?

edit... nevermind, I read his numbers wrong...

i have the 250/500/100 or something like that, $340/year with no coverage on the bike.

[Jiggles]

Originally Posted by offrdjeep87

Increasing my bodily injury and property damage from 25/50/10 to 50/100/25 and my Uninsured/underinsured from 20/40 to 100/200 causes my rate to go up $294 for the year ($24.50/month). That sucks, but after reading all this I think its necessary. I'm going to up my coverage tomorrow.

On a side note, does anyone decrease their insurance to the minimum during the off season (if you have one)? Living in the Northeast I can't ride year round and it seems like a waste of money since I won't be getting into any accidents during that time since I'm not riding.

That's interesting that they let you split your uninsured and liability. The companies I've had will only let your underinsured go as high as your liability

Originally Posted by broilmebk

Lol i was thinking the same thing
Great write up jiggles. Out of curiosity though, how much are you paying for that kind of coverage?

That will be revealed in an upcoming thread

[folky15]

Originally Posted by Jiggles

ATGATT can save your life while at the same time not having enough insurance can ruin it.

Upgrading your liability and underinsured is inexpensive, if you cannot afford to do it you should not be riding a motorcycle, just like with gear.

ATGATT and ATIATT

These are really good points, thanks Jiggles! I just upgraded my Progressive insurance policy.

[Jiggles]

Originally Posted by broilmebk

Lol i was thinking the same thing
Great write up jiggles. Out of curiosity though, how much are you paying for that kind of coverage?

There ya go http://www.ninjette.org/forums/showthread.php?p=544025

[lostdaemon]

Thanks for all the great info. I thought I had myself decently covered, but after your explanation I checked my coverages and upped myself to the maximum, especially thinking of un/underinsured in LA. The $10 extra/month is well worth it! Now if I could get the idiots I ride with to change their coverage too...

[ARc]

I appreciate you creating this thread and highlighting the importance of adequate insurance coverage. I knew it was a good idea to be covered, but your insight into what coverage covers which expense is extremely beneficial to not only myself, but to the riders who are covered by liability only.

[Miles_Prower]

holy moly...10 a month extra for UI/UN????
I just got a quote from progressive..they want more than DOUBLE what i pay now. the UI/UN for 100/300k is more than the comprehensive and collision and liability together.

gotta shop around i guess..

[lgk]

How many wrecks have you been in, what is your driving record like?

[nycsteve]

Originally Posted by Miles_Prower

holy moly...10 a month extra for UI/UN????
I just got a quote from progressive..they want more than DOUBLE what i pay now. the UI/UN for 100/300k is more than the comprehensive and collision and liability together.

gotta shop around i guess..

Definitely shop around. What most people should try to also get, and this would be a local thing, is what companies do when it an accident does occur. I went with progressive because not only did they quote me a lower rate, they also have a better rep than other companies in my area when it comes to payouts and what not. They do not drag their feet as much as the others and are a bit better when it comes to totaled bikes and buy backs.

[Miles_Prower]

Originally Posted by lgk

How many wrecks have you been in, what is your driving record like?

I, in terms of insurance payouts/claims, have a clean record.
No accidents, no tickets, nothing. I heard PA UI/UN was a lot higher than normal..I'm not sure is thats 100% true, but now I kind of wouldn't doubt it.