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Insurance COVERAGE Question

2K views 14 replies 9 participants last post by  MaddogUSMC 
#1 ·
Some questions I have regarding COVERAGES for insurance on the bike. I have a buddy that goes overboard sometimes on a lot of his claims on various subjects, but he is an Insurance Salesman...and a couple of years ago he questioned my coverages on my bike when I had bikeline/Markel insurance. I have since that time switched over to Dairyland Insurance, and changed my coverage limits to his recommendations. Now I am questioning if it is not overkill. Surely there is a happy medium between coverages of being under covered and over covered. I know there is RISK to either side, but at some point common sense must prevail (at least in insurance).

The graphic below is the current coverage levels I have...I would like to hear ALL ARGUMENTS for these coverages and ALL ARGUMENTS for lowering them to a more reasonable level (which would also lower the premiums). The cost for these coverages with Dairyland is $357 per year.

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#2 ·
Well i dont know much about it, but i will say get medical coverage. i didn't have it when i totaled my 2010, and theres a few things my new medical insurance (i was relying on that, but with a layoff from the oilfield i ended up on my wife's insurance, and it sucks) didn't cover some aspects of the wreck. i added 5k of medical just to cover the ambulance and other odds and ends, and it only costs me an extra 20 a year.
 
#3 · (Edited)
Looks good to me thats what I carry. I would also add underinsured/uninsured coverage to the policy. Believe me with all the un and under insured drivers out there you need it. Medical is a good idea if you do not have good coverage from work. Case in point I was hit by another motorcyclist a little over five years ago and his insurance coverage barely covered the helicopter ride to the hospital. He also had no assets we could have leveraged. I was out of work for 7 months. If I did not have underinsured coverage I would have been screwed.
 
#4 ·
Get medical! I am laid up from a hit and run and apparently my policy didn't have medical when I asked for all coverages. Now I am responsible for all that insurance doesn't cover

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#7 ·
Get medical! I am laid up from a hit and run and apparently my policy didn't have medical when I asked for all coverages. Now I am responsible for all that insurance doesn't cover
Yes try and get as much medical as you can afford. I was covered by my work insurance but when I got a settlement from my underinsured benefit I had to pay back my work insurance for whatever they had paid out. So basically I ended up paying for everything one way or the other.
 
#5 ·
I never get windshield coverage for the bike. I can buy one cheaper then what insurance wants per year.
Now that vic is gone how will insurance get replacement parts.
Always get insurance coverage for adding new parts and there value. If you look at the price of handlebars or exhaust you don't want to be cough short.
Take photos of your bike and when you add a new part take a photo.
 
#6 ·
I had progressive and they paid me for all the upgrades I did to the bike.

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#8 ·
I'd bump up the under/uninsured amounts. A few years back, I scanned in two of the columns that appeared in the ask-a-lawyer Q&A in Motorcycle Consumer News back in 2012. I put them up on my web site as PDFs (one page each):

http://www.billanddot.com/MCN-2012-10-Uninsured-Motorist-Insurance.pdf

http://www.billanddot.com/MCN-2012-12-Uninsured-Motorist-Insurance.pdf

Just as I had Lloyd tune my XCT, I let that guy convince me to bump up that part of my insurance. That is, I'm no expert on either engine work or insurance, so I personally won't try to persuade you of anything ... just as I wouldn't dream of tuning your bike (and I don't have a dyno, anyway).

I also have a $1 million umbrella policy with the company I currently use for home/auto/bikes, but I had that before jacking up the under/un coverage.

If you're interested, here's my latest two-bike policy that shows my limits:

http://www.billanddot.com/Safeco-policy-2016-2017-high-uninsured.pdf

(That's a two-page PDF, and all of the personal identifiers have been blanked out. Unlike another site I could name, this site is not kind to posting large images such that you can actually read them.)
 
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#9 ·
Either way, you don't want to end up like me....suspected drunk driver hit and run and end up paying all that is not covered!

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#12 ·
Was with Dairyland for a number of years until I lost a major discounts, after losing HOG membership when I bought my CC. Switched to Markel who was cheaper for same coverage on the CC. Coverages were/are identical to what you have. Believe those numbers (100/300) are considered minimum recommended these days.

Sent from my space age communicator.
 
#13 ·
Same coverage with same company. I think I do have bumped up scumbag no insurance guys. But my rate is $570 a year. I know my uninsured motorist is dang near as much as the entire policy. Depending on what state your in the liability could be less. I think Fla is 50/100, some of your coverage's depend on what you have for assets. If all you own is say bike, car and say a savings account you could get away with minimums. If you own a house, business and cars etc you have more "stuff" people can sue you for.
 
#14 · (Edited)
If you are hurt in Indiana the most for pain and suffering is $100,000. If you get a lawyer he gets a third of that. Medical comes back off of that at 18 to 20% of what is left. So when I was injured not being my fault I ended up with $52,000 for pain and suffering. I had union insurance which payed sick leave. I was off work over 5 months. Can any of you last that long with your savings? So when you look at insurance medical coverage and lost work time is very important. A motor cycle can be replaced but if you loose a leg can you survive with no pay? And by the way my back was broken at #1 lumbar which today hurts all the time. As I get up in age is worsening with my pain and suffering compensation is a joke. I have spent more out of pocket since 1999 going to doctors to relieve some of the pain with no prevail. So there is more to this question, yes the insurance man wants to make his income, but you need to be covered in other ways other than cycle insurance. just my 2 cents
 
#15 ·
I'm feeling your pain right now. I've been off work since 12/31/16 and have no clue when I'm going back. Being in bed nearly 24/7 sux!
 
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