I need Insurance help...ASAP

[jwabram]

I'm getting ready to pull the trigger on a bike. A used bike. I got pre-approved for a loan. Problem is, they (the bank) classified the loan as a "used" motor vehicle loan. At 8.9% that's pretty sweet, but they have all these insurance requirements. It's a dirt bike!!! I keep trying to tell them that. So, I contacted my insurance company, "we don't insure any type of race vehicle". Fine! Just fabulous!

I need some advice ASAP, because I've tried to explain to these people that I don't want insurance for my stupidity on the track. Is it covered on my truck policy if there is an accident? If the garage I have it stored in burns down am I covered?

If it was a personal loan at a higher interest rate, I don't even think this would be an issue, but, here I am!!!!

Please give me some advice here!!! I'm getting ready to deal on a bike, but instead, I'm dealing with a bureaucracy!!! :|

 

[JuliusPleaser]

Talk to Nationwide. My agent insured my YZ250F and my KDX220 for $330 per year. You might want to tell them that it's a "recreational" vehicle. Don't tell them that you're going to race it. Don't even mention "racing" at all. They hate that word.

 

[jwabram]

Damn! I told them I wanted to race the bike eventually!!! Honestly, it's going to be recreation to start. I just screwed the pooch!!! I'm really angry right now, but, this seems to make me feel a little better...

Gloom, despair, and agony on me...wooh! Deep dark depression, excessive misery, wooh! If it weren't for bad luck I'd have no luck at all, wooh!! Gloom, despair, and agony on me....

"I wen't down to the local lending institution, tried to get a bike loan...."

"You don't say...."

"Yep, they told me that without insurance, I couldn't get a bike and without a bike, I couldn't get insurance...pass the jug...gloom, despair, and agony on me!!!!"

 

[JuliusPleaser]

OMG! Hee Haw flashback! :scream:

 

[jwabram]

When I was a kid, that was as good as porn. Remember????

The flashback still makes me feel better...I think... :ugg:

 

[JuliusPleaser]

I used to ridicule that show, but i always watched when it was on. The Hee Haw Honeys were. . . well, HONEYS! :confused:

 

[Skid Jackson]

Try progressive, or geico, I have a bmw k75, kaw klr 650, and drz e 400 all one one policy for around $300 or so.

www.Progressive.com

http://motorcycle.progressive.com/

 

[Hogwylde]

you need to shop around. there are several companies that insure just bikes. my company just happens to have my house and trucks and bikes all on the same policy. but, there are so many companies out there that wont even touch a bike, no matter what kind or what u use it for.

i hate getting these things in the mail claiming to save you 25% or more on ur insurance....and as soon as you mention bikes (street and dirt) they say they dont cover them. so, first thing i do now if i try them out is to ask if they insure bikes. if they say no, i tell them there is no reason to continue the conversation. :|

 

[AJ Waggoner]

Several Ins . co's cover Dirt bikes.
State farm will.
normally around 150 per year...really depends on model and amount of coverage.
as mentioned above-
www.progressive.com
also covers dirt bikes no problem..
( in fact there is a discount if you're an AMA member)
in the same 100 to 150 price range.

keep in mind you will likely not be getting collision coverage.
(and your bank/loan shouldnt need that)
youll be quoted for theft /fire/ comp..liabilty etc .
be sure and tell the companies you are calling that it is a NON licensed off road bike! for rec use. NOT a street bike.

If you dont make it clear they will get you outragously high quotes.
I'm sure there are others , those two are the only ones i have used and both have been great on any claim.

 

[jmics19067]

this what my insurance agent told me ... pennsylvania mind you

home owners dont cover your bike homeowners will not cover any vehicle unless used for ground maintenance or for use by the handicapped.
really ticked me off is that quads can be slid in under ground maintenace< yep thats right I use my Banshee to cut the lawn ughh>

but if you hurt someone else or damage property with the bike your homewoners will cover the damage.

you propably need the insurance only to secure the loan. ie. you get hurt ,the bike gets stolen ....etc the bank is garunteed to get its money.

 

[Gary B.]

Thanks alot! Read the thread, now I find myself humming that stupid song over and over in my head!

 

[jwabram]

Sorry about the song. I couldn't resist. Where oh where...are you tonight???? Why did you leave me here all 'A'loan...I searched the world over and thought I found true love, you met another and bthrr(sp?) you were gone...

Thanks for the input everyone. I was going to make an offer on a bike Saturday, but decide I couldn't do that in good faith until I had this insurance thing settled. So, I decided to regroup tuesday and I'll try again. In doing that I decided to enjoy my weekend and visited my local MX park and watch my first ever MX race. Besides tv of course.

I don't know how they keep it all straight especially when they run two races at the same time! Took me a while but I finally started following what was going on. I can't wait to join in!

 

[Jasle]

Its fairly easy to keep it all straight. Just put the numbers down as they cross the line lap by lap. Then at the end check the numbers vs. the class. The really hard part is when you have a pack of 5 bikes flyin by and you have to try and write down all the dang numbers.
Jason