Motorcycle Insurance

[JukeboxHero]

thanks for the responses guys. By hurting people I meant a person inside of a car, but never actually thought about pedestrians, as i think Sevulturus was talking about. I guess more is better in the case of liability insurance. How about collision? Besides a major wreck, most damages are usually scrapes and dents, correct? I'm thinking if I have anything more serious then that, I would probably stop riding.

[FZrider]

thanks for the responses guys. By hurting people I meant a person inside of a car, but never actually thought about pedestrians, as i think Sevulturus was talking about. I guess more is better in the case of liability insurance. How about collision? Besides a major wreck, most damages are usually scrapes and dents, correct? I'm thinking if I have anything more serious then that, I would probably stop riding.

Personally I am not a fan of collision insurance. I think it's important to understand first who it is that wants you to have insurance: the bank, the insurance company? Banks do because they want to protect their investment if you financed your bike with a loan, and after all they don't pay the insurance so it costs them nothing to insist you pay for it. Insurance companies do because its their livelyhood. Who do you think pays for the buildings, office supplies, and salaries of the insurance employees? However, I calculated that instead of collision insurance on my bike, in my lifetime I would save enough to pay for 3 brand new motorcycles (not even counting interest on money saved). In other words, if in my lifetime I totalled three motorbikes the day I bought them, I would be no worse off than if I threw my money into the pocket of insurance companies. I have to conclude that with those kind of numbers, it would be absoultely crazy to put collision insurance on my bike. I find it extremely doubtful that I'll ever write off four or more brand new bikes in my lifetime and if that ends up being true, it is therefore also true that collision insurance is not actually insuring me against anything. So I've decided to take the risk because it's actually no risk: I will save more money no matter what happens to my bike. I don't expect everyone to be like me and who knows maybe for some people collision insurance might be worth it, like if the bike is his/her only means of transportation and he/she can't afford to be without their bike. The cost also depends on the bike of course, as well as other factors. What I do strongly encourage everyone to do is their own calculations and not listen to any biased recommendations especially from those selling you fear to get you to do what is in their interest.
Having no collision insurace is likely to make you a safer rider too.

[Nibblet99]

I am new to motorcycling and was wondering what type of insurance is needed. For liability I am thinking coverage as low as 15k/30k/10k would work fine since motorcycles are of such small mass and really don't do much damage to other vehicles or persons. So let me know what kind of insurance policy you hold and what you think I, a new young motorcyclist, should get. Thanks a lot.

p.s. I am also looking to get a new Vulcan 800A for my bike that I will be insuring.

Just don't knock a MV Augusta into a Limosine.