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Being a new wing owner and owning one that's not financed.........I have a question for the masses.

I put liability insurance on the Oldwing the other day and opted for "uninsured motorist" coverage just in case I get clobbered by some low life who seems to think he doesn't need insurance. The uninsured covers my hospital/medical expenses but the liability doesn't do a thing to replace the bike. All this insurance cost's me a whopping 13.70 a month. On this old of a bike.....that I have purchased for $500.00:clapper: should I go ahead and put full coverage on it and pay the extra $30.00 a month? I'm thinking even dropping it......maybe against a curb or some way that the engine or saddlebag guards wouldn't protect it would cost me a lot of $$$$ to fix. My intentions are to keep this thing for a while..............so........what would ya'll do????
 

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Oldwang that sounds very cheap for that type of insurance. In Canada for what is the same type I am paying over $500. a year this is on public liability's, no fire or theft, no collision. We pay for a year and it sits in storage for 7 months not even on the road.
 

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At the price, I carrry full coverage on my 87. Actually the payoff will be more than I originally paid for it. I see it as...... well.... Insurance.
 

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For just liability here in Oregon, I pay about $80 a year. Sincethe bike is so old I just take a chance with that, and for medical coverage I have medical insurance that covers me. If I'm carrying a passenger the bike insurance covers up to $25,000 for her (even though she, my wife, has the same medical insurance), Oregon law I guess. It also covers bodily injury from uninsured motorists, but not the bike.

Not bad forless than $7 a month.


I use Dairyland insurance
 

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Hey you guys should live in Ireland if you want to know about expensive insurance ,,I pay the equivelent of 1500 us dollars a year for my 1800 and that does not cover hospital expenses ,,,insurance here is crazy ,,,:gunhead:For a youngerster 17 yrs ols starting of with a 50 cc scooter he could pay 700 dollars ,

for a 17 yr pld in a 1 litre small car around 4 to 5 thousand dollars and that only covers the person he hits and not his own bike or car ,,,So be thankful you dont live here .....cheers Ciaran:waving:
 

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Sounds like the insurance companies over there are making a very nice profit... maybe I should invest in some stock!

Iremember payingout the nose for auto insurance when I lived in Germany. Here in the states medical insurance is out of control... many cannot afford it, and go without.
 

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I was paying $100/year on my 83 Aspencade. This was only liability and medical. Then I bought an 81 Yamaha XT500 (street/trail) and added it to the policy. That qualified me forthe multiple bike discount so I only paid about $131/year for both. The rate actually dropped on the Wing when I added the second bike. My insurance company (Geico) has a minimum charge of $99.00 per year.

Then I added my 16 year old son onto the the policy, (he rides the 500 not the wing!) and that added another $115/year. That rate should drop way down after he has been on the policy for a year.

I do not have full coverage on my bikes. My insurance would only pay for the base value of the bike, not the $2000-$2500 of chrome/accessories on the bike. Didn't seem worth it to me.

Actually I don't carry anything more than the minimum on any of my vehicles. They are all paid for, and for what full coverage would cost me it wouldn't take long to shell out more than any single one of them is worth!

Bob
 

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Oldwang:

Welcome to Manitoba! Home of the Manitoba Public Insurance Corporation...the only act in town....$1,203.00 collision coverage only. For fire and theft add about another $1,000.00 and that is for a 1982 Golwing. If anyone is interested, I'll get the figures for a 2005 Wing. (Did I mention we pay 14% tax on the purchase of any vehicle)

Kyle
 

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Old Wang, here in Nevada I pay $90 a year for Liability ins. didn't put medical on it becuase that would cause my medical ins. to drag their feet on paying while they fight with the bike ins, to pay, to much Red-Tape !

I'm probably gonna buy a new bike this year and keep the old Wing,that's when they get ya !
 

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Just liability would have cost me $4.00 a month. I never thought about the health insurance dragging their feet waiting on the other to pay. That's the reason for the question I guess........helps to get all the angles covered.

My daughter works at my State Farm agents office and she says they have the cheapest motorcycle insurance available......I haven't compared rates so I don't know for sure.
 

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I would suggest a GEICO quote. In my case State Farm came nowhere near them with their quote. I pay $133.00 a year for a full boat policy on my 87 Aspy. As I really got a bargain when I bought it, the current replacement cost they would pay is indeed quite a bit more than I paid for it.
 

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I may do that just to see if there is any difference........although I could never change at this point! My little girl would kill me for switching:gunhead:
 

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As you can seeI live on a small independent island, between Ireland and the UK, my 1997 1500 fully comprehensive costs £360 pa an additional cost of £20 per 30 day trip of the Island has to be paid. + Europe cover if I venture further.

You can drive a motor car at 16 on the Island. As my son is taking lessons at 16, his insurance in his name at third party party fire and theft is £850.

The Insurance does not injury cover for me if the accident is my fault, but would repair the bike.

If a third party uninsured driver/rider causes an accident, there is a pot of money of which each insurance companycontributes each year, can be claimed from, but not as much as you would be able to claim from a policy. This applies to uk mainland Northern Ireland and the Isle of Man. Do,nt Know about Southern Ireland.
 

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One of the biggest dangers in Goldwing insuring is Under-insuring your baby. I paid £425 last year fully comp for my 1800 having moved from a 1500. Renewal this year was £429 but when I read the policy closely it covered me for the bike valued at £14,000 with £100 only for accessories. I have added up the bills for items added to the bike including the trailer and it comes to £25,000 so I am £11,000 under insured.

Airevalley Insurance have a policy specifically for Goldwings called Goldspan. This policy covers the total value of the bike including comprehensive cover for your trailer and all accessories. Their underwriterspulled out of Ireland 5 yrs ago but I spoke to Mark the manager last week on behalf of the N Ireland club. Several calls later and the underwriters finally agreed to start cover in N Ireland again. They gave me £25,000 worth of total cover, including breakdown, 90 days european with £200 excess for the sum of £500 per year. This mean that by paying an extra £71 above my usual renewal notice I got an extra £11,000 worth of cover including fully comp on my trailer. Had I renewed with my existing company and my unit been destroyed had the garage caught fire for example, I would have only got £14,000 and lost £11,000 due to lack of cover.

Wouldn't do any harm to check that your policies are giving you adequate cover given the prices of the accessories we load onto the value of our bikes. My trailer alone is worth almost £4000 and until today it wasn't covered by insurance.
 

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Thanks for that point Little john, I am waiting for a call back on Monday from my insurer regarding extra's fitted on the bike ie my new gps.

I received an email from a mate today in the uk, suggesting I contact Goldspan

[email protected] they specialise in wing Insurance, worth a try.
 

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One thing about full coverage in U.S. Unless you have a special policy such as for a collector vehicle or the likeyou're going to get if you wreck the bike is the blue book value it's unlikely you'll get the replacement price.
 

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Oldwang...if your insurance doesn't cover loss of wages while you are laid up, you're in a very vulnerable position.:(
 

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Good thought Dean!

I have LTD "long term disability ins." through my work for $6 a week it pays 2/3 of my pay taxfree for as long as i'm off , even life !

A guy in California wrecked his bike bad and he's been collecting LTD for 6 years now !

I learned the hard was I was off one year with no-income and single DAD with a 12 year olddaughter to raise!

Bottom line ask your employer if they offer "LTD ins" if not find some from an outside source if you ride a bike !

Actually I wasn't on a bike when I crushed both my legs, so you never know!
 

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The 2004 figures for a 2004 -1800:

Basic................................$2,336

Collision Deductible................$75

Comprehensive Deductible..$490

Third Party Liability.................$48

Registration fee......................$69

Plate Fee...................................$4

Total...............................$3,022.00

If you are a very good driver with merits and choose the cheapest possible policy, collision only, $1,769.00. (Only an idiot would do this....too much to lose on a new bike worth $30- $40,000.00)
 

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You guys are making me feel even happier riding an old bike, wreck this one buy another not much more than a year or so's worth of insurance.
 
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