insurance question... Just liability - Suzuki GSX-R Motorcycle Forums
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post #1 of 4 (permalink) Old 05-31-2005, 12:52 PM Thread Starter
Join Date: Oct 2001
Location: Ontario
Motorcycle: CrazyCanuk
Posts: 1,297
insurance question... Just liability

hi I was reading the insurance sticky and noticed there were a fair number of people running with just liability... most in ontario.. go figure....

Just wondering if this is a wise choice.... to be honest i never considered it before... but with the price of insurance these days (unfortunately I didn't keep my clean record.... 2 claims... 1 for bent rims... which was stupid now that i look back on it I should've just eat'n it.... and one for an accident which wrote of my 01 1000 and i got charged with "failing to leave the road safely"... which technically I guess is true... the claims where 3 and 2 years respectively....

so 2 years have gone by and I'm still fucked for insurance.... ohhhhh I sooo want a new 5K.....

damn you insurance companies....
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post #2 of 4 (permalink) Old 06-01-2005, 04:24 AM
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Posts: 5,058
Re: insurance question... Just liability

I believe if you finance it you will require comprehensive and all perils. Not sure where the cut-off exists betweeen down payment $$ and finance amount though. I'm thinking of getting a new litre bike from a 2001 750 and my insurance on the 750 is $359 a year with full coverage. I did an online quote and with the same company they want $860 a year full coverage for the 2005 GSXR-1000. Not too bad I suppose but a good deal higher than the 750. It would suck donkey balls to not have good insurance and total it or have it stolen on such an expensive item. I considered just liability but for me I'll probably go full coverage until the depreciation value drops to some value that is close to where you could part the bike out if totalled and not lose a pile of money. There is no way I'd consider not having fire/theft on a new bike and mine is always in an alarmed garage and I only drive it and return it without it ever out of my sight. You are taking your chances with just liability on a bike that is worth more than $4000 IMHO. Alot depends on just how pricey the premium is however, I've heard guys quoting some ridiculous amounts for coverage so then if I had good financial income I might consider just liability because what you save could be used to fix the damn bike if the unfortunate happens. My rates are pretty good because I'm an old fugger(almost 40) with a clean record so I'm guessing if I was young(19-24) I'd be looking for used 600cc and 750cc and just liability until I got some years and experience(not that I'm all that) but that is how the insurance companies look at it unfortunately. Good luck, it seems Ont is very expensive for bike insurance these days.
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post #3 of 4 (permalink) Old 06-02-2005, 12:02 AM
Yaah I know!
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Join Date: Jan 2005
Location: Mississauga, ON.
Motorcycle: 1999 GSXR 750, 2002 CRF450R, 1974 CZ250, 1996 Yamaha Wavebalster
Posts: 1,020
Re: insurance question... Just liability

Well let me tell you a little secret I had accidents that were not my fault back in 91 totalled 2 bikes in 2 months well they paid out everything but the f*&%$ are still holding it over my head as they had to pay out so much back then that they are trying to make their money back. It's been 14 years it's a bunch of bull and no insurance wants to touch me and my record has been clean for 12 years with no tickets or accidents I'm 31 now
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post #4 of 4 (permalink) Old 06-05-2005, 03:27 AM
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Join Date: Jun 2003
Location: Canada
Posts: 152
Re: insurance question... Just liability

I was in the same boat as you.I had two not at fault accidents on my record.One accident someone hit me in a stolen car and ran and the other a guy changed lanes and took me out.My company told me that they stay on your insurance record for seven years and sure enough this was the seventh year and my rates dropped dramatically.You should look into that.I called around and four separate ins. companies told me the same thing,tickets stay on for 3 years,stolen vehicles 7 years,accidents 7 years,claims 7 years.I think you said you've been dealing with it for 12 years and i don't doubt you have but i'd be on the phone dropping that company and going with someone else.Insurance companies are a total SCAM.They make me fuck'n sick.
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