Motorcycle Insurance
 

So I'm getting my motorcycle license next week, and my Stella will arrive in 2-3 weeks (in black, sans wind screen). I started shopping around for motorcycle insurance but I'm not sure what level of liability is really needed. I think I asked for a bit too much, what does OOT recommend I get and why? Please consider the following:

1) I was in a skiing accident that totally screwed up my left arm, left me with 4 screws in my elbow and nerve damage. If I ever get in an accident, it could be extra painful for me.
2) I will be spending a lot of time in NYC (bad traffic with wild cab drivers)
3) I have major medical health insurance already
4) NJ is a no fault state

This is what I selected just to get an estimate. My selection costs me $1,181/year. My salesperson in NYC told me it was very high, he plays 300 in the city.
- Bodily Injury Liability: $50,000 per person, $100,000 per accident
- Property Damage Liability: $10,000 per accident
- Pedestrian Personal Injury Protection: Basic Coverage
- Loss of Income: Not available
- Uninsured Motorists Bodily Injury: $50,000 per person, $100,000 per accident
- Uninsured Motorist Property Damage: $5,000 per accident
- Underinsured Motorist Bodily Injury: $50,000 per person, $100,000 per accident
- Underinsured Motorist Property Damage: $5,000 per accident
- Comprehensive: $500 Deductible
- Collision: $500 Deductible
- Towing & Labor Costs: Not Included
- Rental Reimbursement: Not available

TT [img]/images/graemlins/club.gif[/img]

Re: Motorcycle Insurance
 

well, I recommend the cheapest you can get. I paid like $70 / month for my MC insurance and I am a an ultra high risk driver.

Re: Motorcycle Insurance
 

You getting that Vespa you were talking about a little ways back?

Re: Motorcycle Insurance
 

and btw, I have a feeling it's the comprehensive that's making it so high. Keep in mind that there's basically no repairing a motorcycle in terms of insurance payouts. It's essentially replacement. Theft coverage can often cause your MC insurance to double or triple.

Re: Motorcycle Insurance
 

[ QUOTE ]
You getting that Vespa you were talking about a little ways back?

[/ QUOTE ]

Yep. The weather is getting nice, thats what I was waiting for. Stellas are Vespa copies (old school P series style) manufactured by a partnership between the original factory in India and Original Scooters which is the #1 parts supplier for vintage Vespas in the USA. Its essentially a vintage Vespa on Steroids.

TT [img]/images/graemlins/club.gif[/img]

Re: Motorcycle Insurance
 

[ QUOTE ]
well, I recommend the cheapest you can get. I paid like $70 / month for my MC insurance and I am a an ultra high risk driver.

[/ QUOTE ]

ok... what do I trim?

TT [img]/images/graemlins/club.gif[/img]

Re: Motorcycle Insurance
 

well I'm pretty retarded about knowing what i'm actually getting. I basically said "What's the least I'm gonna pay to drive this thing legally?" and went with that. but yeah, try cutting comprehensive if you dare.

Re: Motorcycle Insurance
 

[ QUOTE ]
[ QUOTE ]
You getting that Vespa you were talking about a little ways back?

[/ QUOTE ]

Yep. The weather is getting nice, thats what I was waiting for. Stellas are Vespa copies (old school P series style) manufactured by a partnership between the original factory in India and Original Scooters which is the #1 parts supplier for vintage Vespas in the USA. Its essentially a vintage Vespa on Steroids.

TT [img]/images/graemlins/club.gif[/img]

[/ QUOTE ]

Duh, I need to brush up on my reading of English. You clearly mention all this in your OP. Just looked at the pic. That's an old-school scooter, looks pretty sweet.

Re: Motorcycle Insurance
 

[ QUOTE ]
well I'm pretty retarded about knowing what i'm actually getting. I basically said "What's the least I'm gonna pay to drive this thing legally?" and went with that. but yeah, try cutting comprehensive if you dare.

[/ QUOTE ]

Comprehensive will be cut. The bike is only 4k after mods, so its not a big loss if something goes wrong.

Re: Motorcycle Insurance
 

I think you can cut the un/under. IIRC, that's just if an un/underinsured motorist does damage to your vehicle. If you're dropping comprehensive, these should go too. Also, if it's only $4k, consider dropping collision as well. Basically, you want liability only.

Edit to add: If you have a loan on this thing, your titleholder will likely make you get comprehensive/collision. It may be more cost effective, since the bike is only $4k to own the bike outright, so you can save on the insurance. Also, this is based on Indiana rules, NY/NJ may (will) be different.