To Insure or To Not Insure?

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#1
I bought a '02 KX 125 about 3 weeks ago and I am thinking about having it insured. To insure it will cost $36 per month. It covers liability and comp. With all the posts about bikes getting ripped off, I kinda worry about my own.

Is this a stupid idea or is it better to be safe than sorry?

CJ
 

JWW

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#2
Originally posted by Stoked_KX
To insure it will cost $36 per month. It covers liability and comp. With all the posts about bikes getting ripped off, I kinda worry about my own.

CJ
I think its wise to have insurance but I think someone is allready trying to rip you off. I pay $9.00 a month for my RM which includes comp, liability and a few other things. It's insured through State Farm. They also carry my cars....

Jeff
 
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#3
:eek:

Thanks for the info.

Gotta go call State Farm now...... For everyone else, don't call Progressive Insurance for a quote!

CJ
 
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#6
Ouch!! I was under the impression this type of stuff was covered under home owner's insurance - being that it sits in my garage. I better check my coverage statement, eh..
 
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#7
My homeowners ins. doesn't cover mine and many of my friends either. I've had friends who's bikes got ripped off only to find out that homeowners didn't cover it. GEICO covers mine in AZ, but it is also licensed, maybe that makes a difference.
 

Strick

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#9
Rates depend on age, territory, type & cc's of bike, and driving record. There are discounts available for AMA, motorcyle safety courses, and multi-bike. FYI --- Progressive is very competitive in most cases!

Also try Dairyland.

I pay $114 a year for my '99 KTM 300, and $164 per year for my '02 KTM 400SX with (guess who) Progressive.
 

JWW

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#10
Originally posted by JeffK
Ouch!! I was under the impression this type of stuff was covered under home owner's insurance - being that it sits in my garage. I better check my coverage statement, eh..
I have always heard they are not covered by homeowners ins
 
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#11
I've called around and I believe that Strick is right.

If your bike is not insured, I would check your own homeowner's policy to see if your bike is covered. I know under renter's insurance (apt w/ garage), my bike is not covered. Hence, the whole reason for me starting the topic.

I don't know about you guys, but my if shiznit gets jacked, I don't want to be making payments on something I don't have.
 
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#12
Insurance on dirt Bike?

I work for large insurance company, and I can tell you every home owners policy I have read DOES NOT cover your dirtbike in the garage. It will cover a 4 wheeler because it can be used for yard work, like a tractor. I added my 2000 YZ 250 to my auto policy, comp. coverage only, the cost $12.00 every 6 months with a $250.00 deductable. It gives me piece of mind when I'm in the Waffle House after a ride. I have had 2 bikes stolen in the past and it sucks. I also keep all the reciepts for the extras I buy and suggest taking photos to support them. .
 

Strick

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#14
I have 17 years in this wonderful industry called insurance. I want to share this tidbid with you. First not all states are the same in terms of how insurance is written. You should always refer to your policies, or ask your agent to put it in writing, if you have questions regarding coverage.

Here in Nevada, Fireman's Fund has a Prestige Homeowners Package (that I have) that will cover motorized vehicles up to $1000 if stolen out of my garage. This is OK for my wife's YZ80 and the girls XR100, but not for the other bikes.

I consider it very wise to insure your bikes (including liability). As far as rates go ---> SHOP!
 
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#15
I've insured my xr 400 and cr 250 through Allstate. I think I pay about $300 total a year for both bikes. These are the first dirtbikes that I have insured, but it seems like more are getting stolen lately.