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#702784 07/25/17 10:51 pm
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A bit of a surprise. I opened a letter today that said my insurance would be not be renewed as the company was dropping "that type of insurance...."

facepalm

I did a few quick searches for quotes and found a policy with a major company that wasn't as bad as I thought.

Not to start an insurance bidding war, but who do you guys use? I was able to get a $99/year for basic liability and uninsured coverages.

Cheers

Rich


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I have to constantly switch (every few years) insurance companies, because they change their terms and premiums all the time.

I will be faithful to one company, always pay on time, never make any claims, perfect driving record ... and they slowly increase the premium on me (on the "frog in a pot of water" theory, I suppose) until it hurts, I check around, and find that I can get the same or better coverage for half the price from another company. Then it starts again.

Right now, my modern bikes are with Geico and my antiques are with Jackson ....

Lannis


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Insurance is a joke.
Until you crash your bike. I found out the hard way that too little insurance doesn't pay.

But they do tend to [***] you around.
Remember that to some degree, the customer is always right. OK to say "hey you're charging me too much". Just to try them out.
They tend to raise your premiums without rhyme or reason, so it really isn't justified.

I've been with Progressive on my bikes for years and years. Last year after totaling the R100 and getting zippo, I pumped all my bikes up to full coverage. 4 bikes, I think costs me about 400-500 dollars a year for absolute full coverage, and agreed value on some of the bikes. That includes comprehensive which basically covers nothing thats not a "collision" or somebody else hitting you.

Lesson I learned is this: A couple bucks a year beats the daylights out of 5000.00 OR MORE to replace your bike.


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I use Hagerty for all of my bikes and cars. The prices are really low and the claims coverage is outstanding. For example, I just added a 69 BMW R60/2 with full agreed value coverage and zero deductible. The annual cost was $55. I had a claim on a 67 Corvette a year ago and the service was excellent. The only rule is that the vehicle can not be you primary transportation. Give them a call.

Doc


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I love Hagerty. I wouldn't use anyone else. They treated me very well when I had a claim.

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Originally Posted by Doc_dup1
I use Hagerty for all of my bikes and cars. The prices are really low and the claims coverage is outstanding. For example, I just added a 69 BMW R60/2 with full agreed value coverage and zero deductible. The annual cost was $55. I had a claim on a 67 Corvette a year ago and the service was excellent. The only rule is that the vehicle can not be you primary transportation. Give them a call.

Doc


Jackson's prices and coverage are about the same as Hagerty. You have to be careful with the terms though - you're only getting those prices because you agree to limit the amount you use the vehicle because it's an "antique" or "collector" vehicle. It's between you and them if you have a big claim and they decide they might challenge it because you were riding it to work or something .... !

Lannis


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Originally Posted by ricochetrider
Insurance is a joke.
Until you crash your bike. I found out the hard way that too little insurance doesn't pay.

But they do tend to [***] you around.
Remember that to some degree, the customer is always right. OK to say "hey you're charging me too much". Just to try them out.
They tend to raise your premiums without rhyme or reason, so it really isn't justified.

I've been with Progressive on my bikes for years and years. Last year after totaling the R100 and getting zippo, I pumped all my bikes up to full coverage. 4 bikes, I think costs me about 400-500 dollars a year for absolute full coverage, and agreed value on some of the bikes. That includes comprehensive which basically covers nothing thats not a "collision" or somebody else hitting you.

Lesson I learned is this: A couple bucks a year beats the daylights out of 5000.00 OR MORE to replace your bike.


I'm sort of the opposite, since it's not really "a couple of bucks a year", at least in my budget!

I don't have any bikes that have liens on them, so I'm not "required" by the bank to fully cover their property.

I hold myself to the "You break it, you bought it" philosophy - if I tear it up, it's on me to replace it. So I don't carry "collision" insurance.

Of course, the state requires you to carry a minimum of liability insurance. I carry the least I can - how much damage can I do to someone else with a bike?

In the end, I don't pay a lot for insurance, between the minimum coverage on the modern bikes and the antique coverage on the old bikes. And since I've never once in 47 years claimed anything on my insurance, I'll probably keep rolling that way ..... !

Lannis


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Been with Hagerty for years on all my old bikes and cars. Excellent rates, but I've never had to make a claim so can't really say on that end. I like the idea of declared value and the fact that they don't have a "winter layup period" where the vehicle is covered for damage but not liability. They do insist that it not be a daily driver so the answer there is have enough bikes/cars so that you can drive something different everyday and not rack up the miles on any single one. A definite financial advantage argument that you can use to explain to She Who Must BE Obeyed as to WHY you need that other bike(s) wink


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In my dealings with Hagerty, they said that I can ride as many miles as I want. I just tell them an estimate up front and they set the rate based on why I say. At first, I told them that I was planning on 10,000 miles a year on everything just to be sure that I was covered. They called me and said that I did not need to do that. They said that they do not check your mileage, they just want an estimate. They have never asked me for the mileage on any of my cars or bikes.


Doc


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Originally Posted by Lannis
Originally Posted by ricochetrider
Insurance is a joke.
Until you crash your bike. I found out the hard way that too little insurance doesn't pay.

But they do tend to [***] you around.
Remember that to some degree, the customer is always right. OK to say "hey you're charging me too much". Just to try them out.
They tend to raise your premiums without rhyme or reason, so it really isn't justified.

I've been with Progressive on my bikes for years and years. Last year after totaling the R100 and getting zippo, I pumped all my bikes up to full coverage. 4 bikes, I think costs me about 400-500 dollars a year for absolute full coverage, and agreed value on some of the bikes. That includes comprehensive which basically covers nothing thats not a "collision" or somebody else hitting you.

Lesson I learned is this: A couple bucks a year beats the daylights out of 5000.00 OR MORE to replace your bike.


I'm sort of the opposite, since it's not really "a couple of bucks a year", at least in my budget!

I don't have any bikes that have liens on them, so I'm not "required" by the bank to fully cover their property.

I hold myself to the "You break it, you bought it" philosophy - if I tear it up, it's on me to replace it. So I don't carry "collision" insurance.

Of course, the state requires you to carry a minimum of liability insurance. I carry the least I can - how much damage can I do to someone else with a bike?

In the end, I don't pay a lot for insurance, between the minimum coverage on the modern bikes and the antique coverage on the old bikes. And since I've never once in 47 years claimed anything on my insurance, I'll probably keep rolling that way ..... !

Lannis


That was my philosophy until I totaled my R100RS and got zero dollars out of it.


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I tend to carry a lot of insurance, including a $2.0M umbrella. Years ago, my excess coverage was a lack of assets. Can't get blood out of a turnip. As that has changed, I have added coverage. Especially when teen drivers were on the policy.

If you think you can't do much damage, imagine what the present value of future earnings of a 28 year old engineer bicyclist with two kids is. You collide and are found to be at fault. Could wipe you out. Low risk I admit, but I am risk adverse.

Would love to go with Haggerty for all antiques, including the 3 bikes but they can't offer the underlying coverage my umbrella reequires in this state. Bummer. Geico gives me a good rate for the bikes though.

You all are inspiring me to get on the phone and see whats out there now. Been a while since I shopped and am still annoyed with the claim treatment I got from State Farm when boy.2 drowned my 93 940. Low ball offer and had to fight with the bastards. At one point, I told my agent that they really needed to consider the value of my future business vs the $1K they were trying to gyp me out of.


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Hagerty. They only deal with "vintage". And speak the language.


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We have had customers use Hagerty, who suffered catastrophic damage to their motorcycles, and had very good experiences getting their bike back to as originally insured.

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It'd been found that insurance companies steadily and without cause, raise prices on solid, long term customers. So it's always a good idea to begin any "shopping" excursion with a call to your agent or to the insurance company directly, to see what (if anything) they can do for you. Get some cheaper quotes beforehand with which to "arm" yourself.

Haggerty requires insured vehicles to be garage kept. Not having a garage, I've never insured my bikes with them. Ah, someday. Far as I can tell, they are by far the best insurer of classic bikes and vehicles.



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I have liability only on my bikes with Progressive...Depending on your situation with health insurance , you may want high limits on medical coverage...


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What's ironic to what I hear some of you saying is I just opened the State Farm insurance letter on my combined truck and camper. It went up $6. They claimed.... "basic yearly adjustment." We've had the camper for two months. The truck since March. My years are longer than that.

I went with Geico on the classics. Still have Progressive on the modern.

I was with Allstate on vehicles until Rose encouraged me to get a quote by SF. I did. It was half of Allstate. Allstate said, "Oh, I guess we should have done a policy update on you..." And then didn't even offer to give me a quote. I'd been with them for 25 years, which was the date I'd hit a deer in my Triumph Spitfire.

Tore up the front bumper, hood dented, etc. I was with Farm Bureau, who said, "Wow. Yep, bad one." Took photos, etc. Told me to come back for full adjustment. I said we're in the middle of peak season at work (Christmastime at UPS - we didn't stop moving packages). I said is two weeks ok? Farm Bureau guy said yep. I went back in two weeks, full adjustment dude said no way will they pay that claim. He said my damages had rust in them - they had flash rusted where paint was chipped way from the metal. I was livid. I told him prior Farm Bureau dude said it was OK to come back. He didn't explain that one. I told new Farm Bureau dude he was the lowest of humans for representing a company that says one thing and does another. I counted on them, paid my policy on time, and met my obligation. They should do the same. He even shared a famous Christian general's name, who operated and became world famous in Lannis's area. I told him he should change his name because he is an utter disgrace to a name that carries respect around the world - until now.

To this day, I wouldn't give them a penny if they were the Salvation Army, Oliver Gospel Mission (local charity), and Santa Claus rolled were into one. I would not.

I may look into these Haggarty and Jackson companies to see what they have. And it seems I'm learning that a company swap every couple of years is in order.

Now. Who do you insure your camper with? laughing

Appreciate the help and insight. The letter was a first for me. I'd been with that company since 1984. They were always dirt cheap.

Cheers

Rich

Last edited by T140V-Rich; 07/26/17 9:25 pm.

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Originally Posted by ricochetrider
Originally Posted by Lannis
Originally Posted by ricochetrider
Insurance is a joke.
Until you crash your bike. I found out the hard way that too little insurance doesn't pay.

But they do tend to [***] you around.
Remember that to some degree, the customer is always right. OK to say "hey you're charging me too much". Just to try them out.
They tend to raise your premiums without rhyme or reason, so it really isn't justified.

I've been with Progressive on my bikes for years and years. Last year after totaling the R100 and getting zippo, I pumped all my bikes up to full coverage. 4 bikes, I think costs me about 400-500 dollars a year for absolute full coverage, and agreed value on some of the bikes. That includes comprehensive which basically covers nothing thats not a "collision" or somebody else hitting you.

Lesson I learned is this: A couple bucks a year beats the daylights out of 5000.00 OR MORE to replace your bike.


I'm sort of the opposite, since it's not really "a couple of bucks a year", at least in my budget!

I don't have any bikes that have liens on them, so I'm not "required" by the bank to fully cover their property.

I hold myself to the "You break it, you bought it" philosophy - if I tear it up, it's on me to replace it. So I don't carry "collision" insurance.

Of course, the state requires you to carry a minimum of liability insurance. I carry the least I can - how much damage can I do to someone else with a bike?

In the end, I don't pay a lot for insurance, between the minimum coverage on the modern bikes and the antique coverage on the old bikes. And since I've never once in 47 years claimed anything on my insurance, I'll probably keep rolling that way ..... !

Lannis


That was my philosophy until I totaled my R100RS and got zero dollars out of it.


Well, if I total my own Stelvio, then shame on me is the way I look at it ....

Lannis


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I have Progressive on my dual sport appliance.
The bill goes down every other year or so.
Started at $96/year
I think it was $82 this year.



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Originally Posted by Lannis
Originally Posted by ricochetrider
Originally Posted by Lannis
Originally Posted by ricochetrider
Insurance is a joke.
Until you crash your bike. I found out the hard way that too little insurance doesn't pay.

But they do tend to [***] you around.
Remember that to some degree, the customer is always right. OK to say "hey you're charging me too much". Just to try them out.
They tend to raise your premiums without rhyme or reason, so it really isn't justified.

I've been with Progressive on my bikes for years and years. Last year after totaling the R100 and getting zippo, I pumped all my bikes up to full coverage. 4 bikes, I think costs me about 400-500 dollars a year for absolute full coverage, and agreed value on some of the bikes. That includes comprehensive which basically covers nothing thats not a "collision" or somebody else hitting you.

Lesson I learned is this: A couple bucks a year beats the daylights out of 5000.00 OR MORE to replace your bike.


I'm sort of the opposite, since it's not really "a couple of bucks a year", at least in my budget!

I don't have any bikes that have liens on them, so I'm not "required" by the bank to fully cover their property.

I hold myself to the "You break it, you bought it" philosophy - if I tear it up, it's on me to replace it. So I don't carry "collision" insurance.

Of course, the state requires you to carry a minimum of liability insurance. I carry the least I can - how much damage can I do to someone else with a bike?

In the end, I don't pay a lot for insurance, between the minimum coverage on the modern bikes and the antique coverage on the old bikes. And since I've never once in 47 years claimed anything on my insurance, I'll probably keep rolling that way ..... !

Lannis


That was my philosophy until I totaled my R100RS and got zero dollars out of it.


Well, if I total my own Stelvio, then shame on me is the way I look at it ....

Lannis


Compared to the cost of a new bike, even a replacement motorcycle, 500.00 a year is WELL worth it in my opinion. To replace my R100RS it cost me 5000.00. What's a used Stelvio going for? How much for a used Trophy?
Stuff happens and it's not always your own fault. You have at least one other bike you could ride around the world on, but what happens of you total the Stelvio then turn around 6 months later and total the Trophy.
Don't deny that it could actually happen.

Each to their own, of course. I got my bikes (and car too for that matter) insured to the hilt.
I don't love Progressive but the one time I needed them -when I crashed the old T140 Bonneville when that dude turned left in front of me- they came thru OK. They had my car insurance jacked sky high so I dumped them. Car & truck currently insured thru USAA with Liberty Mutual.

Last edited by ricochetrider; 07/27/17 1:27 pm.

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All my bikes are old, so they are all insured as antiques with Condon & Skelly. I pay about $500 for insurance per year for 11 bikes. That gives me $300G liability (which satisfies the threshold for my umbrella policy) and various agreed upon values for fire, theft, collision, etc. I don't tour on bikes anymore, so the 2000 mile per year restriction doesn't bother me.
There are plenty of ways that a bike accident can result in an action against the rider. A passenger gets hurt. A pedestrian gets hurt. A bicyclist gets hurt. Another biker gets hurt. A few years ago, a guy on a Harley dresser hit a Corvette. Went right through the fiberglass and killed the driver. Harley rider walked away. Additionally, New Jersey is a no fault state when it comes to car insurance (in a collision for instance, each parties' carrier pays their insureds' damages up to the policy limits.) , However, that does not apply to bikes. But there are ways that liability coverages can assist with coverage for medical damages. For instance, if you crash and your wife or grandchild is on the back and is injured, they can sue for their injuries and it would be covered under the liability policy up to the amount of the policy. It doesn't take long for medical bills to add up, so I prefer the additional peace of mind that full liability coverage provides.
Years ago when my wife and I were young and dumb (now we are old and dumb, but have the benefit of experience), car and bike insurance was something you paid the minimum for (and got the minimum coverage), just to satisfy the mandatory insurance requirements. Then we got married and bought a house. We did not increase our 15/30 policies, on the vehicles because we didn't think about it. Then my wife got in a relatively minor car accident and was sued. Our carrier (Allstate) refused to settle, saying we had a good case. The jury came back with a $100G award against my wife which resulted in a lien against our house. Allstate's response was "Oops, our bad. Here is the $15G we are responsible for. Good luck!" It took a number of years to straighten that mess out (Allstate finally paid in full after a lot of legal wrangling) and in the meanwhile we had a major lien against the house. Only arguably good thing that came out of it was that it resulted in me going to law school. On the once bit, twice shy theory, we now carry a large umbrella policy and make sure that are other coverages meet the threshold. It provides peace of mind.

Ed from NJ

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Originally Posted by ricochetrider
Insurance is a joke.
.


I'm well on my way to that point, Tom bro.

The latest in the saga.

Last week: A gal from Geico calls. Twice. Urgent. Bzzz. Phone vibrates indicating email. Geico - CALL US ASAP!!! confused

Here's the deal. I have to leave court. I don't have to leave. But I do leave. I call. "We sent a packet to correct this but we wanted to know if you wanted to decline under....."

Me: "The packet you mailed? You mean the packet I've already sent back yesterday?" confused confused

Gal: "Well we wanted to get it straight...."

Me: You got me out of court (room temp went up about 15 degrees)... mad.. because you need to settle a question.... about a packet I've already mailed?

It went downhill from there. mad mad

Ok. Before we think the fun is over boys and girls - it ain't. facepalm

Today: BZZZZZZZZ. BZZZZZZZ. Another call. Unknown number but looks familiar. PING. Computer says email has arrived........ stop me if you've seen this movie.....

Young Geico dude: FIRE FIRE FIRE! We NEED ANSWER UNINSURED.....

Me: mad Son. Hold, ho....son, stop. What is the record for the shortest term of policy? I'm about to make a stab at the record.....

The packet I mailed? Wasn't correct? They wanted to ask if I wanted to add coverage.... I did..... now there's still a problem? (There's no emoji for volcano)
~~~~

I went back through the very generous offerings of you lads as to insurance insight. Tom, I believe you're not far off. :bigt

I saw where Haggerty was recommended by several or at least thought of well by acquaintances. I hung the phone up and immediately searched for Haggerty. $169 per year. It's more expensive than Geico but at the rate I'm riding, Geico will cost more in blood pressure meds.

So. If Geico doesn't send manna from Heaven or some type of peace offering - I'll be a Haggerty rider.

Cheers,

Rich

Last edited by T140V-Rich; 08/08/17 10:24 pm.

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Originally Posted by ricochetrider
Originally Posted by Lannis
Originally Posted by ricochetrider
Originally Posted by Lannis


I'm sort of the opposite, since it's not really "a couple of bucks a year", at least in my budget!

I don't have any bikes that have liens on them, so I'm not "required" by the bank to fully cover their property.

I hold myself to the "You break it, you bought it" philosophy - if I tear it up, it's on me to replace it. So I don't carry "collision" insurance.

Of course, the state requires you to carry a minimum of liability insurance. I carry the least I can - how much damage can I do to someone else with a bike?

In the end, I don't pay a lot for insurance, between the minimum coverage on the modern bikes and the antique coverage on the old bikes. And since I've never once in 47 years claimed anything on my insurance, I'll probably keep rolling that way ..... !

Lannis


That was my philosophy until I totaled my R100RS and got zero dollars out of it.


Well, if I total my own Stelvio, then shame on me is the way I look at it ....

Lannis


You have at least one other bike you could ride around the world on, but what happens of you total the Stelvio then turn around 6 months later and total the Trophy.
Don't deny that it could actually happen.



You've got all the facts right. But if I total the Stelvio and then six months later total the Trophy, my conclusion is that either I don't belong on a motorcycle, or .... well, I don't know.

The numbers just don't add up for me. I've paid $30,000 in my life for house insurance and never collected a dime. I've paid at LEAST that much in 46 years for bike and car insurance, and never collected a dime. I and my employers have paid over $240,000 in health insurance premiums over the years, and (with a conservative estimate), I've benefitted about $40,000, leaving 200K on the table.

I'm serious - if I drop the bike in a turn because I was going too fast, or run into a car, or come around a blind turn faster than I can stop, and there's a tree across VA 39 in the Goshen Pass .... then that's MY responsibility to pay for the consequences. It's not lightning striking my house, it's not a cancer cell causing a tumor, it's not a flood washing down my barn, it's ME dropping the bike. Under my control, therefore my responsibility. I try to look at everything that way, where I can ...

So far, it's been working great. If it backfires on me, well, I did it my way .....

Lannis


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Originally Posted by Lannis
[quote=ricochetrider][quote=Lannis][quote=ricochetrider][quote=Lannis]


.... then that's MY responsibility to pay for the consequences.


Oh my! You said the .... R word! eek Lannis! No one is no longer..... I did not see that. I know no-THING!

Seriously. Shame but few today even know how to spell the word. I need to cut an Aretha song.... R-E-S-P-O-N-S-I-B-L-E, that is what it means to me....ok so I can't sing. I'm with you although we have a segment who feel they did nothing wrong. Ever. Need a good piece of hickory applied to the nether regions of their anatomy. I feel the same. I drop it - my mistake.


I did it my way .....

I did just finish my Elvis 40th column for the local newspaper, who asked me to chime in. Thank ya var much.

Lannis



1977 T-140V
1973 T-140V
2011 Bonneville SE
Author of "Relics and Reminiscing."
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Well'ard Rocker
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Well'ard Rocker
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Originally Posted by T140V-Rich
Originally Posted by Lannis
[quote=ricochetrider][quote=Lannis][quote=ricochetrider][quote=Lannis]


.... then that's MY responsibility to pay for the consequences. Lannis



Oh my! You said the .... R word! eek Lannis! No one is no longer..... I did not see that. I know no-THING!

Seriously. Shame but few today even know how to spell the word. I need to cut an Aretha song.... R-E-S-P-O-N-S-I-B-L-E, that is what it means to me....ok so I can't sing. I'm with you although we have a segment who feel they did nothing wrong. Ever. Need a good piece of hickory applied to the nether regions of their anatomy. I feel the same. I drop it - my mistake.

I did it my way .....

I did just finish my Elvis 40th column for the local newspaper, who asked me to chime in. Thank ya var much.



Well, there's different ways of "taking responsibility" for your actions. Paying insurance premiums to cover you just in case you screw up is one way that many choose. That's not the one I choose, however. I've never bought anything but the minimum required liability insurance, and it works for me ....

Lannis


"Never stand and take a charge. Charge them too!"
Joined: Sep 2005
Posts: 1,952
T
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T
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Posts: 1,952
Wow. Didja think there'd be another saga? Me neither.

Long story short, Geico has now inquired on three different occasions about under and uninsured insurance. I have filled out the application even whilst being guided by an agent on the phone. "Cheeeck here. Colour this box red, make Father Christmas have a beard with white crayons...."

Sent it off..... wrong. Incorrect. You evil, uneducated minion.

So, I have not the coverage I preferred but the coverage amounts Geico wants me to have.

Here's the thing. Why didn't they place these asinine questions online when I filled out the app?

I'm not recommending Geico. Haggarty's still wants my business. When I'm square aware this junk with Geico and then swap.

Just head's up. I like Geico's image. But, lort. Can't I just get coverage and pay my premium?

Cheers

Rich


Last edited by T140V-Rich; 08/19/17 1:09 am. Reason: Too many thumbs

1977 T-140V
1973 T-140V
2011 Bonneville SE
Author of "Relics and Reminiscing."
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