Author Topic: Insurance, motorcycles, financing - etc.  (Read 929 times)

Stig / Major Tom

  • Global Moderator
  • Hero Member
  • *****
  • Posts: 14654
  • Rural Ohio
    • View Profile
Insurance, motorcycles, financing - etc.
« on: December 14, 2018, 12:53:57 AM »
Visited my local dealer again today (to show a neighbor the new LIKE150i - but looks like he's going with a new Honda - the CB300F or the CB500F !), and chatted with a couple salesmen to clarify something

At least in Ohio, if you are financing the purchase of a bike, scooter, SeaDoo's, CanAm's etc. - you must carry full coverage insurance.
The dealer uses many, many different finance companies - incl. HONDA, etc. - but they all require full coverage insurance if the buyer is financing the purchase.
The salesmen said this dealer requires proof of insurance before the vehicle leaves the dealership.


Once again - I heard that sport bikes (with clip-on bars) are much more expensive to insure than are adventure type bikes of the same engine size, which have upright bars & an upright riding position!


For a young buyer - they recommend saving until the person can afford to pay cash for a lightly used bike of their choice.
"Buy used - and pay cash."

I have to admit that I will be mighty jealous seeing my neighbor motor by on his new F! He's getting the correct color!




Stig
« Last Edit: December 14, 2018, 12:55:33 AM by Stig »
Boston Strong
Rural Ohio

And, I'm feeling a little peculiar.

Gnzbrg

  • Full Member
  • ***
  • Posts: 132
    • View Profile
Re: Insurance, motorcycles, financing - etc.
« Reply #1 on: December 14, 2018, 01:48:58 AM »
Oddly enough, of my four bikes, the Like 200i is by far the most expensive to insure.  Why I cannot say, but true. 
2018 Like 200i
2011 Ruckus
2007 KLR 650
2000 Vulcan 1500Fi
  😎👍

Stig / Major Tom

  • Global Moderator
  • Hero Member
  • *****
  • Posts: 14654
  • Rural Ohio
    • View Profile
Re: Insurance, motorcycles, financing - etc.
« Reply #2 on: December 14, 2018, 02:44:52 AM »
Oddly enough, of my four bikes, the Like 200i is by far the most expensive to insure.  Why I cannot say, but true. 
Have you never seen the police blotter of the typical LIKE200i rider?!
"Mayhem and Danger" is our motto......although some just wear T-shirts which say, "Give Pees A Chance", or "Tim Horton in 2020!"

Stig
Boston Strong
Rural Ohio

And, I'm feeling a little peculiar.

randyo

  • Hero Member
  • *****
  • Posts: 1682
  • Farmington, Strafford County, New Hampshire, USA
    • View Profile
Re: Insurance, motorcycles, financing - etc.
« Reply #3 on: December 17, 2018, 06:07:23 PM »
in New Hampshire, a lender may require insurance, but that is the contract with your lender, not the law.  Because insurance in not required, we have vehicles from big trucks to scooters without insurance everywhere, it is wise to have high UM limits, I don't understand driving/riding naked so to speak, insurance is dirt cheap compared to other states
RandyO
IBA#9560

Viper254

  • Hero Member
  • *****
  • Posts: 817
  • Moped Pirate
    • View Profile
Re: Insurance, motorcycles, financing - etc.
« Reply #4 on: December 17, 2018, 08:05:04 PM »
They aren't bothered in the UK. It is your perogative
Rides;

Suzuki GW250 Inazuma (2016)
Honda C70C (red, 1983)

Tromper

  • Hero Member
  • *****
  • Posts: 784
  • Seattlish
    • View Profile
Re: Insurance, motorcycles, financing - etc.
« Reply #5 on: December 19, 2018, 01:27:30 AM »
No mandatory insurance on bikes in WA either, strangely it's rather inexpensive compared to other areas.
Just make sure you have some if taking the bike across the boarder though.  All of our neighboring troopers are aware of that fact and would love to ticket you; although I think you could beat it, you'd still have to show up in court where ya got it.

in New Hampshire, a lender may require insurance, but that is the contract with your lender, not the law.  Because insurance in not required, we have vehicles from big trucks to scooters without insurance everywhere, it is wise to have high UM limits, I don't understand driving/riding naked so to speak, insurance is dirt cheap compared to other states
2008 SYM HD200 "Niwanibiz"
2018 Suzuki Burgman AN650z "Bebaamaadizid"

k9 S200 (Blue) "Max" (Sold)
k8 SYM HD200 "Indigo" (Deceased)
k7 Suzuki Burgman 650 "Ohanzee" (Sold)

djson280

  • Newbie
  • *
  • Posts: 18
    • View Profile
Re: Insurance, motorcycles, financing - etc.
« Reply #6 on: December 23, 2018, 07:05:24 PM »
No mandatory insurance on bikes in WA either, strangely it's rather inexpensive compared to other areas.
Just make sure you have some if taking the bike across the boarder though.  All of our neighboring troopers are aware of that fact and would love to ticket you; although I think you could beat it, you'd still have to show up in court where ya got it.

So what happens if you have an accident and are at fault? the other driver gets nothing? So has to sue you?

Tromper

  • Hero Member
  • *****
  • Posts: 784
  • Seattlish
    • View Profile
Re: Insurance, motorcycles, financing - etc.
« Reply #7 on: December 26, 2018, 09:25:49 PM »
So I'd assume. 
Personally since insurance is cheap, probably at least partially due to lack of a mandate, I keep a high level of coverage on the bikes.


So what happens if you have an accident and are at fault? the other driver gets nothing? So has to sue you?
2008 SYM HD200 "Niwanibiz"
2018 Suzuki Burgman AN650z "Bebaamaadizid"

k9 S200 (Blue) "Max" (Sold)
k8 SYM HD200 "Indigo" (Deceased)
k7 Suzuki Burgman 650 "Ohanzee" (Sold)

de dee

  • Hero Member
  • *****
  • Posts: 2055
  • 2011 300i downtown 82,265 KM.
    • View Profile
Re: Insurance, motorcycles, financing - etc.
« Reply #8 on: December 27, 2018, 07:56:31 AM »
In Canada it is the LAW  INSURENCE, HELMET, WITH COVERAGE FOR NON INSURENCE DRIVERS, Ave., cost $ over $1,000.00 and we cant ride all year because of the snow & ice  Honda gold wing about $ 2000.00  in Quebec insurance is cheeper , but they charge a lot more for the licence, it comes out the same

Gnzbrg

  • Full Member
  • ***
  • Posts: 132
    • View Profile
Re: Insurance, motorcycles, financing - etc.
« Reply #9 on: December 27, 2018, 08:06:42 PM »
Have you never seen the police blotter of the typical LIKE200i rider?!
"Mayhem and Danger" is our motto......although some just wear T-shirts which say, "Give Pees A Chance", or "Tim Horton in 2020!"

Stig

Wow, I have never heard a more accurate description of my Scooter Gang, "The Savage Milquetoasts".  We are, truly, born to be mild.
2018 Like 200i
2011 Ruckus
2007 KLR 650
2000 Vulcan 1500Fi
  😎👍

JJJoseph

  • Hero Member
  • *****
  • Posts: 892
  • Kymco Sento
    • View Profile
Re: Insurance, motorcycles, financing - etc.
« Reply #10 on: January 02, 2019, 12:12:21 AM »
In Canada it is the LAW  INSURENCE, HELMET, WITH COVERAGE FOR NON INSURENCE DRIVERS, Ave., cost $ over $1,000.00 and we cant ride all year because of the snow & ice  Honda gold wing about $ 2000.00  in Quebec insurance is cheeper , but they charge a lot more for the licence, it comes out the same

In BC, where many ride 12 months, we are insured by a govt-owned insurance corporation (ICBC).  I'm insured for the full year for $124 with full coverage, UM coverage included.  This low rate applies up to 400cc, then it jumps up quite a bit. 

de dee

  • Hero Member
  • *****
  • Posts: 2055
  • 2011 300i downtown 82,265 KM.
    • View Profile
Re: Insurance, motorcycles, financing - etc.
« Reply #11 on: January 02, 2019, 03:10:35 AM »
In BC, where many ride 12 months, we are insured by a govt-owned insurance corporation (ICBC).  I'm insured for the full year for $124 with full coverage, UM coverage included.  This low rate applies up to 400cc, then it jumps up quite a bit.
  left the Kimberley  B C in 1949, joined RCAF married a women who could not leave her mother,  stuck in Ottawa Ontario, to lazy to move ,  but our gas is cheap 93.6 per Lt. will be in Victoria next summer, 

Louder North

  • Full Member
  • ***
  • Posts: 117
    • View Profile
Re: Insurance, motorcycles, financing - etc.
« Reply #12 on: January 11, 2019, 06:19:11 PM »
  left the Kimberley  B C in 1949, joined RCAF married a women who could not leave her mother,  stuck in Ottawa Ontario, to lazy to move ,  but our gas is cheap 93.6 per Lt. will be in Victoria next summer,

Happy New Year De Dee! 

Surely, your mother-in-law is still not around any longer to keep you pinned down in Ottawa.  I, for one, am glad you are close by!
2009 Kymco Frost (aka Yager 200i)
10,000 km
bought used in 2018
2007 Aprilia SR50 (Morini motor)
2013 Aprilia SR50 (Piaggio motor)
1986 BMW R80

randyo

  • Hero Member
  • *****
  • Posts: 1682
  • Farmington, Strafford County, New Hampshire, USA
    • View Profile
Re: Insurance, motorcycles, financing - etc.
« Reply #13 on: January 11, 2019, 07:05:33 PM »
So what happens if you have an accident and are at fault? the other driver gets nothing? So has to sue you?

he gets to claim on his UM coverage..... if he has it.   seen lotta accidents neither party has insurance, they both get to eat it

frankly, makes no sense to me, insurance is CHEAP compared to other states. as I posted elsewhere , my MC insurance is less than $200/yr for $250k/500k/250k on liability, same on UM,  $100 deductible on collision, and ACV on Comprehensive,   I would have higher limits, but my homeowners umbrella extends the coverage up to 5 million.    My truck is a business vehicle and pay just over $500/yr for the same limits, but multiple drivers (one with a DWI on his record)
RandyO
IBA#9560

An Error Has Occurred!

Call to undefined function split()