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Motorcycle insurance

I don’t think this is a topic anyone has ever talked about on this site. Everything below is super self-explanatory, so, scan as necessary…

I always go for the cheapest auto insurance. I have Progressive mc insurance.
The maximum number of motorcycles you can have per policy is 4.
For the bare minimum coverage of those 4, the annual cost is about $130. (assuming you have a clean, accident free driving record for past 5 years).

Bare minimum coverage means, if you hit someone else on your motorcycle, Progressive will pay the other persons car/medical expenses. But Progressive will not give you any money to fix your own bike.

This is the route I have always gone with my cars and bikes. I figure if I do something dumb and my bike goes down, I’ll fix it.
I always assume my bikes will never get stolen because they’re old and shitty. Plus I always keep them locked up.
For whatever reason I assume all my stuff is a bunch of junk and it’s not worth anything.

Long story short, this weekend I had some free time to re-think how I handle the insurance on my Z1.
After talking to a couple people, and seeing how the prices of Z1/KZ’s are insane these days, I decided if the Z1 was stolen, or if a tree fell on it and it’s totaled, I’d be fucked and unable to easily go buy another one.

I put the z1 on a separate Porgressive policy and had it insured for $9k.
Older than 1980, Progressive does “agreed-upon value” that doesn’t need to be confirmed by an Adjuster.
Annual cost for what I chose is about $280.
$1000 deductible which completely goes away after 4 years, assuming I haven’t had to “use” my insurance for any mc claim reasons.
So, if someone breaks in my house and steals it, they cut me a check.
If a tree falls on it, they cut me a check.

If you have a bike which you actually give a shit about and is worth anything, maybe consider how it’s insured.
Honestly, I was surprised at how cheap it was annually.
$300 a year is nothing.

Anyway… just something to think about.

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7 Responses to “Motorcycle insurance”

  1. Nate says:

    Good post. MC insurance is always a sweep under the rug after thought. I too went to progressive thanks to the agreed upon values. DCarr should chime in here w/ some more advice since this is his domain.

  2. Steve says:

    I put comprehensive on my Triumph. It was barely more than liability only. Totally worth it to not worry about it.

  3. Ted says:

    I’m glad you shared this info because I switched to Progressive back in December. The thing that sold me was the agreed-upon value. Let’s face it, a restored or modified bike lost would be devastating if your insurer only gave you Kelly Blue Book Value.

  4. Kirk says:

    You should consider a company like JC Taylor. They were the first to start insuring vintage vehicles years ago. I insure my 1975 CB500T for an agreed value of $3k,my 1978 KZ750B for $2.7k for collision, $0 deductible comp, $300k in liability, and 24/7 roadside assistance, no annual mileage limit, for just a bit over $150/yr. Can’t beat it.

  5. Mike Ashleigh says:

    You guys are all delusional. Your bikes arent worth crap.

  6. Nate says:

    @Kirk
    I got real excited by your price points and went straight to their site but as soon as I started a quote i noticed this little tidbit that you have to agree too: “I agree that my vehicle(s) will be used mainly in exhibitions, club activities, parades and other functions of public interest and will not be used primarily for the transportation of passengers or goods.”

    All of my bikes at some point will carry passengers or goods; and are not show bikes. They are all riders. I think JC Taylor is not for the average guy w/ vintage bikes but it seems like they are for old man show bikes.

    I can see now them denying a claim b/c i had “goods” on the bike. What classifies “goods”? Seems vague and like an easy way out for an insurance company to pay.

  7. Kirk says:

    JC has been insuring vintage bones for a long time and they have a pretty good reputation. They don’t add a mileage rider or limit you to riding to and from shows. If the bike is your daily rider, than I would agree. But if you’re riding with a club/group or just out for a jaunt, you’re good. Mine definitely aren’t show bikes

    And Mike, you simply haven’t been paying attention.

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