is collision and comprehensive really necessary?

I

iblastoff

Well-known member
I'm trying to get quotes for insurance as a beginner rider. I'm planning on getting a Suzuki TU250 used which will probably be around 3 to 4 grand.

With such a low cost bike, is collision and comprehensive coverage necessary really? Because it would change my quote from 1300 down to 900 a year if i opt out of both options.
 
I personally would not add collision on the policy for that bike - even if brand new. Comprehensive is for things like THEFT, fire, etc.. and would be pretty darn cheap anyways - so I'd add it along with the mandatory liability.
 
As long as you own the bike. If you owe money on it, then you must carry full coverage. (I know, $4k, but some people....)
 
How old is the bike. What is it worth?

If you can recoup the cost quickly from the difference, then you essentially "Self Insure it", by not taking the coverage.
 
Baggsy said:
How old is the bike. What is it worth?

If you can recoup the cost quickly from the difference, then you essentially "Self Insure it", by not taking the coverage.
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i dont have the bike yet but it would be a used tu250x. can't see it being more than 4 grand tops. i would assume it would be at least a year old, depending on what i can find. not much luck so far though!
 
If you buy the bike outright collision isn't legally needed. Then do the math.

If you wreck the bike insurance gives you its value less the deductible. For this they charge you many dollars.

For a $3500 bike they would give you $3000 and take the bike for salvage.

Without insurance you get nothing from them but have the bike to part out, mitigating your losses.

The main factor is your ability to sustain a $3000 hit. If you are financially comfortable $3000 isn't a lot of money. If you are a starving student that needs a bike for transportation it would be different.
 
nobbie48 said:
If you are a starving student that needs a bike for transportation it would be different.
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Most rational thinking humans would argue that you should be taking TTC, bicycle or your feet to get around then. lol. OP, also keep in mind that your insurance could jump up after a claim for a number of years. Heck, possible the amount is goes up is greater (of time) then the cost of the bike.
 
nobbie48 said:
If you buy the bike outright collision isn't legally needed. Then do the math.

If you wreck the bike insurance gives you its value less the deductible. For this they charge you many dollars.

For a $3500 bike they would give you $3000 and take the bike for salvage.

Without insurance you get nothing from them but have the bike to part out, mitigating your losses.

The main factor is your ability to sustain a $3000 hit. If you are financially comfortable $3000 isn't a lot of money. If you are a starving student that needs a bike for transportation it would be different.
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yeah 3000 is fine for me. definitely not a student. have a normal grown up job. house. car. etc. just want to save some $ on insurance. my car is my main transportation method. bike is just for commuting and fun!
 
Put it this way... Liability only for over 2 decades, saves you enough to buy the bikes owned a couple of times over.
 
Riceburner said:
Put it this way... Liability only for over 2 decades, saves you enough to buy the bikes owned a couple of times over.
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Hey man, I'm trying to reply to you but your inbox is full. Clear some space and ping me.
 
iblastoff said:
yeah 3000 is fine for me. definitely not a student. have a normal grown up job. house. car. etc. just want to save some $ on insurance. my car is my main transportation method. bike is just for commuting and fun!
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Self insure. Put the collision money in a piggy bank every year and the law of averages will say that if and when you wreck the bike there will be enough to offset the losses. With collision, the insurance company is just a middle man between you and the body shop.
 
nobbie48 said:
Self insure. Put the collision money in a piggy bank every year and the law of averages will say that if and when you wreck the bike there will be enough to offset the losses. With collision, the insurance company is just a middle man between you and the body shop.
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yep makes sense. it turns out my car insurance place actually does motorcycles too (i thought they didnt for whatever reason). now my quote is $680 with collison/comp and $385 without! either way pretty good.
 
If you get into a collision will you really want to get the bike fixed or replaced? You may be more worried about getting your body together rather than the bike.
 
I declined collision on my first, $3500 bike. When I upgraded to a $6500 bike I didn't bother to change my coverage. Long story short, I totaled the bike soon after and then realized that a $6500 hit meant I wouldn't be riding for a little while. Fortunately, I was covered under comprehensive but I decided to add collision after that incident.

Platinum Cycle said:
If you get into a collision will you really want to get the bike fixed or replaced? You may be more worried about getting your body together rather than the bike.
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Such an optimist.
 
Platinum Cycle said:
If you get into a collision will you really want to get the bike fixed or replaced? You may be more worried about getting your body together rather than the bike.
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what??? uhh yeah obviously i would like to get a bike that still works if it gets damaged. and yeah i would like any physical ailments to be healed too. not sure how its one or the other.
 
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