Insurance....

[siplumb]

All,

Some of you may remember I posted a thread just before Christmas called "careful out there" after coming off the bike on a bit of ice. After (maybe stupidly) decideding to go through the insurance company, we've got to the stage where, hopefully, I'm finally getting it back after the insurers have taken just over a month between picking it up and returning it repaired..

One hefty excess charge later and I'm now considering what the point is of that insurance. On such a cheap machine I should've just taken it to the local dealer and got it repaired and probably back on the road within a few days...

So shall I just go for the cheapest possible monthly charge (3rd party) just so I can officially say I'm insured and then deal with any costs from an incident myself?

I know this is probably only a question that I can answer myself but I'd be happy to hear the thoughts of people with more 2 wheel experience than my two years...

Cheers!

Si

[iceman]

Depends on so many factors, but if the difference between 3rd PF&T and comp, excess, and loading on insurance next time is taken into consideration, it may well be better to take the 3rd PF&T option.

[hatari]

All,

Some of you may remember I posted a thread just before Christmas called "careful out there" after coming off the bike on a bit of ice. After (maybe stupidly) decideding to go through the insurance company, we've got to the stage where, hopefully, I'm finally getting it back after the insurers have taken just over a month between picking it up and returning it repaired..

One hefty excess charge later and I'm now considering what the point is of that insurance. On such a cheap machine I should've just taken it to the local dealer and got it repaired and probably back on the road within a few days...

So shall I just go for the cheapest possible monthly charge (3rd party) just so I can officially say I'm insured and then deal with any costs from an incident myself?

I know this is probably only a question that I can answer myself but I'd be happy to hear the thoughts of people with more 2 wheel experience than my two years...

Cheers!

Si

well, very much a matter of "yer pays yer money...."

over here in Thailand, you get basic third party insurance with your road tax...many many people just have that...

[maddiedog]

The PCX is so cheap that I just carry state minimum on mine. It's $30 usd a year. If I had full coverage, I could have almost bought a used PCX with the amount I would have spent on insurance by now.

I should note that I have good health insurance, otherwise I'd carry medical coverage.

[siplumb]

Well I've gone for the minimum cover as it ran out while it was off the road.. Really looking forward to getting it back tomorrow and getting back on the road.... Public transport for the last few weeks has been painful.... Not least as each days train ticket was a weeks petrol money for the PCX!

[katschamne]

I have full coverage on mine. It runs me $144 a year through State Farm. I had to get full coverage when I first bought because I did finance it. I paid it off in a couple mouths but I plan on keep the full cover with a very low deductible.

[Mgalutia88]

I know I pay a similar amount. Around $15 a month for a $500 deductible full coverage. i guess that makes it $180 a year. I am 25 years old though so that could make it higher. Its dirt cheap anyway. But so are parts. I had the rear wheel come out from under me and I had to replace several parts that totaled $118 from the dealer and came painted. (left and right side lower fairings, left side middle black plastic, left upper front fairing, left brake handle, handle bar end weight and air filter cover. It wasn't even worth thinking about insurance. I took it home and spent a few hours to have a new looking scoot.

[Mel46]

We have full coverage, and I will tell you why. We have had multiple auto accidents, none of which were our fault. Of those many accidents, only 1 person had adequate insurance. The rest either had no insurance or were under insured. For those of you who don't know the heartaches of an under insured motorist hitting you, let me tell you. They carry the state minimum, which means that they could hit their max before completing the repairs on your vehicle, and you will get stuck with most of the hospital bill. So, if you also have the minimum, who picks up the tab for fixing your vehicle, or at the very least who picks up the remainder of the costs? And, if you are injuried, who pays for your lost time at work? The under insured motorist? Nope. Chances are your attorney won't get much from the person who is under insured. Otherwise they would be smart enough to carry more coverage. In almost every one of our accidents our attorney had to file against our own carrier to get our car fixed, pay for hospital bills, and get us lost wages. If you are riding a scooter you are already in dangerous territory simply because you are smaller than those huge SUVs driven by bimbo blonde housewife's who are more interested in their cellphone call than you.

[Mgalutia88]

Lol you hit the nail on the head. Just forgot the under dressed part...

[iceman]

My earlier reply was coming from a UK perspective, things may be different in the US and vastly different if your premiums, with no claims protection, are low. I'm holding out till the new PCX is available before purchasing a PCX/SH or similar, but the quotes I got are between £300-400 or double that! (that's with 30 yr's driving, 20 yr's no claims, and without any no claims protection as car insurance and years no claim does not carry across to bikes as I'm a new rider).

Add in making a claim, proving it's their fault, not having the 'have you made any claims in the past x years and your premium doubling, it does not seem worth paying £1000's more over several years for full comp, over and above TPFT - if you claim your premium will rise making it worse!

[buddy1976]

iceman try hastings, i was with swinton bikes and they were charging be £40 per month, switched to hastings 3rd party fire and theft is £12 per month for me

[iceman]

iceman try hastings, i was with swinton bikes and they were charging be £40 per month, switched to hastings 3rd party fire and theft is £12 per month for me

Thanks! Only filled in a few on-line quote requests so far. Had to cancel a test ride I had booked for Tuesday due to the tube strike and cover at work, but will arrange one in a month's time - eager to here more news of when the new PCX will hit UK shores.

[buddy1976]

Apparantly its spring 2014 thats the best info i can find although your local honda dealer should know better.