Insurance Tricks of the Trade - Sportbike Forum: Sportbike Motorcycle Forums
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post #1 of 20 (permalink) Old 06-02-2002, 10:33 AM Thread Starter
 
Join Date: Apr 2001
Posts: 458
Insurance Tricks of the Trade

I don't know any, sorry to say, but I was hoping that you did. I will be purchasing my first bike in the coming month and im doing my homework now for it. I will be stopping by my local State Farm insurance agent tommrow to see if they will even insure me (20 year old, 2 tickets but the points are gone, no riding experience, no car under state farm currently). And I always have Rider Insurance to fall back on www.njrider.com

Just wondered if there were any tricks of the trade that would be beneficial to me in the near future. Thanks.

Kyle
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post #2 of 20 (permalink) Old 06-02-2002, 10:50 AM
 
Join Date: Sep 2001
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I hear State Farm won't without a car policy first but try anyway.

Are you getting just liability or full rapage?

My only suggestion is don't rule anyone out, call all of them you can find in the yellow pages etc.

Also, check for discounts for AMA membership and MSF. Do the math and see if it's worth joining the AMA.

Ask if there's any way to lower your rates, they may have programs or deals for other things. And bike insurance CAN be so expensive that jumping through a few hoops to get another 10% off is worth it.


The absolute best way to save is pay cash for the bike or put it on a loan that doesn't require the bike as collateral [sp]. Credit cards may work for you?? Then just get liability.

Hopefully you'll get luckey and get a good quote.
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post #3 of 20 (permalink) Old 06-02-2002, 11:53 AM
 
Join Date: Jan 2002
Posts: 256
From what I hear and have experienced, you'll usually get the best rates from whoever also insures your car(s). State Farm may not insure your bike if you don't have your car with them. Depends on what the claim history is in your state. State Farm can be very picky who they cover to try to keep their claims down. In any case, call them and call whoever currently handles your car insurance especially if your parents use the same agent. Yes, in spite of your other thread about parental concern, you should take advantage of their relationship with an agent if it helps as long as you are paying for it yourself anyway. Also call whoever else you can find for a quote. Make sure that everyone knows you will be getting rid of the car unless you want to try to sneak that past them and sell the car after you get the bike. Neither your chosen carrier nor you may like that surprise, however. If you are selling the car before you get the bike, then they will know up front.

If you finance the bike, the lender will likely require full coverage to protect their investment. I pay almost as much for collision (repairs to my bike if I am in at at-fault accident) as I do for liability (covers damage to other's property). Comprehensive (includes theft) is about half of collision. Look into what is the minimum required insurance in your state (liability + ?) if you aren't required to get full coverage from by a lender. That may be less than half the cost of full coverage. Just remember that any loss due to theft or collision of your fault IS NOT covered and can be quite expensive. HTH and good luck.
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post #4 of 20 (permalink) Old 06-02-2002, 02:01 PM
 
Join Date: Aug 2001
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I first started out with Progressive. They allowed me to use a different "garaging zipcode". This saved $2000. That was when I lived inside the D.C. Beltway. Now that I live outside the beltway, I put my bike on my State Farm policy, and I only pay $350 a year. State Farm wouldn't carry me at first because I didn't have a car policy with them (drove the parents grocery getter).
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post #5 of 20 (permalink) Old 06-02-2002, 02:15 PM
 
Join Date: Aug 2001
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I first started out with Progressive. They allowed me to use a different "garaging zipcode". This saved $2000. That was when I lived inside the D.C. Beltway. Now that I live outside the beltway, I put my bike on my State Farm policy, and I only pay $350 a year. State Farm wouldn't carry me at first because I didn't have a car policy with them (drove the parents grocery getter).
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post #6 of 20 (permalink) Old 06-02-2002, 03:13 PM Thread Starter
 
Join Date: Apr 2001
Posts: 458
Whatever bike I end up buying will be paid for in full in cash so no leasing. Ive been shopping around (as much as you can do on a sunday) and found that so far NJ Riders is the cheapest. I will probably go with just liability because if I don't I may have to wait until more money is available, which may not be till next year.

Thanks for the responses to this redundant topic.

Kyle
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post #7 of 20 (permalink) Old 06-02-2002, 07:34 PM
 
Join Date: Jun 2001
Posts: 269
idea

i helped my friend out, for a little while anyway...
when im at school i can make some badass fake ids. i even made cards that said "free whopper meal" and all the other crap and we ate whoppers and onion rings for a month til someone figured it out, then they were so good, they accepted them one more time! anyway, i showed my friend (01 r6) how to make a fake insurance card. it was so sweet and it was perfect you couldnt tell the real one from it. it worked at road blocks and everything. it was so good, when he bought his truck he didnt bother getting insurance cuz he just made another card for it. it was so great, UNTIL...
one day, he had pissed off some guys at work and they called the cops about his insurance card thingie and waited for him at work one day. now hes pretty much ****ed. he lost his job because he made the fake insurance cards on the computer at work. he just started a spray-on bedliner business and has to go to court for insurance fraud in august. he may end up in jail for a year. basically there are no insurance tricks of the trade. if youre actually going to pay for it, youre not going to get enough of a deal to be worth while. whatcha gonna save? $10 a month? psh, whats that?
the only reason my buddy got caught was cuz he works like a goddamn mexican and does such a good job, the other team at work got pissed cuz his team had to go back after theirs to finish their jobs.
i just heard somethin about insurance and thought id share my experience. its easy enough to make a fake one but dont get caught. i guess thats what im saying
dash is offline  
post #8 of 20 (permalink) Old 06-02-2002, 08:14 PM
 
Join Date: Jul 2001
Posts: 33
I would feel a little weary about just going with liability on a brand new bike. It is great to have the lower payments and I don't know what you are getting but around 4-500 lbs it doesn't take much for that baby to disappear. I had mine stolen and I am glad it wasn't paid for. Felt alittle better about getting something from the insurance company
jjardine is offline  
post #9 of 20 (permalink) Old 06-03-2002, 04:42 AM Thread Starter
 
Join Date: Apr 2001
Posts: 458
Quote:
Originally posted by jjardine
I would feel a little weary about just going with liability on a brand new bike.
Thats was my next question...

Liability vs Full Coverage. Now that kind of sounds obvious, cover your ass at all costs. But the thing is if I get full coverage, that means not getting the bike I would like to have. If I get liability, that means getting the bike I want, but not taking my eyes off it.

I was thinking that for the first year just liability, save up through the year, show the parents that im responsible and not a certain type of seafood, and get full coverage next year, seeing how I will be 21 with a years riding experiance, which I hope will lessen the raping somewhat.

Im on my way to the State Farm agent in about 30 min. we'll see how that goes.


Kyle
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post #10 of 20 (permalink) Old 06-03-2002, 04:54 AM
 
Join Date: Jul 2001
Posts: 33
Good luck with State Farm. I am currenty a state farm policy holder. What bike are you looking to get. I have a 2001 CBR 929 Erion Edition, I am 24 with a spotless record and am getting raped at $900/6 months that is the cheapest I could get. Progressive wanted 4700 a year and geicko wanted 7200 a year. Good luck.
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