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.
7 responses to “Motorcycle insurance”
Published - Nov 1, 2012
If you haven’t been out for a first friday in awhile, this is the one to make it out to. Our good friends of Norman Porter Company will be at Art in the Age demonstrating their denim and leather skills, as well as launching their limited edition denim series for Art in the Age. They […]