Insurance Question

Lavish_Squalor · Post by **Lavish_Squalor** » Mon May 23, 2016 5:35 pm

I have a 2009 Genuine Buddy 125 that I purchased in December of 2014 and it has a little over four thousand miles on it. I've always carried full coverage on it and have a $250 deductible.

Do most of you guys carry the same level of insurance? Now that my scoot has some miles and years on it I'm wondering if the full coverage is worth it. It's not a financial hardship by any means, but I don't want to throw money away. My current policy runs me about $211 a year.

At present it's my sole means of transport.

giddyup98 · Post by **giddyup98** » Mon May 23, 2016 5:44 pm

Unless the difference between full coverage and just liability insurance is not that much more, I would just get liability coverage. Book value for a 6 year old Buddy with 4K miles is only around $1K. If you totaled it, less your $250 deductible, all you'd get is around $750 or less.

george54 · Post by **george54** » Mon May 23, 2016 7:10 pm

You need to know the difference in cost between full coverage and liability only before you make that decision. Everyone here pays different amounts and can't make a blanket statement as to what's best for you.

It's probably not all that much cheaper for liability only, is my guess.

mike932 · Post by **mike932** » Mon May 23, 2016 7:39 pm

And get towing insurance. I used it twice already. Progressive charges only $5 more per year for towing insurance.

babblefish · Post by **babblefish** » Mon May 23, 2016 7:41 pm

I only carry liability insurance on my 2006 Blur because it's book value is probably in the negatives right now. It costs me $110 a year for insurance.

ucandoit · Post by **ucandoit** » Mon May 23, 2016 8:15 pm

I have a 2008 with 5000 miles. I pay only $35/yr. for liability only, but I could not get towing, which would be nice. The scooter just isn't worth paying full coverage for. However, it is not my sole source of transportation.

mike932 · Post by **mike932** » Mon May 23, 2016 8:23 pm

ucandoit, get a free quote online from progressive to see if it is cheap

DeeDee · Post by **DeeDee** » Mon May 23, 2016 8:39 pm

When I first insured a scooter 4 years ago they told me $100 a year for liability only. I said, how much to add comp? They said same cost. I said how much to add collision, they said same cost. I said how come. They said "were a $100 a year minimum premium company" I ended up with full comp, collision and $300k medical for the same as liability only would run. You have to know what questions to ask.

mike932 · Post by **mike932** » Mon May 23, 2016 11:26 pm

Also, I buy A LOT of liability insurance because even though our bikes are small, we can still cause and accident and get sued for big bucks

iwannascoot · Post by **iwannascoot** » Mon May 23, 2016 11:31 pm

mike932 wrote:Also, I buy A LOT of liability insurance because even though our bikes are small, we can still cause and accident and get sued for big bucks

I have an umbrella policy also, even though the chance of doing serious damage on my scoot is unlikely. It is possible to cause bodily injury to someone and be sued into bankruptcy.

Billy

DeeDee · Post by **DeeDee** » Tue May 24, 2016 12:33 am

mike932 wrote:ucandoit, get a free quote online from progressive to see if it is cheap

I bought Progressive through a broker. Premium was 40% cheaper then the quote I received from them directly.