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Your Questions About Cheap Motorcycle Insurance

May 4, 2013

Michael asks…

How much can i expect to pay on motorcycle insurance when im 16?

Im looking at a ninja 250 or something small like that
my family uses cincinatti*

Administrator answers:

Hahaha im 16 and my dad called insurance companies and if the bike is under your moms or dads name it will be $200-600 a year but if you put it under your name $2,000-2,500 its not worth it then and the proces i gave you were for a 650cc thats what im getting so for a 250 it might be even cheaper so i wish you luck in your moto life!

Chris asks…

What effect does a motorcycle theory test certificate have on a CBT?

I acquired a theory test certificate prior to passing my CBT, does this have any bearing on what I can/can’t ride? Or will it at least secure me a cheaper insurance premium?

Thanks guys :)

Administrator answers:

Nope.

Donald asks…

What’s the cheapest way to get my hands on a rebuildable or get a rebuilt shovel head engine.?

It seems as though 2500 for a running but non rebuilt engine is the going rate. FYI, I don’t care if it has s&s parts.

I don’t think insurance companies and police auctions are going to be it.

Administrator answers:

I’m guessing you came up with $2500. By checking motorcycle salvage yards. Other than that I’d say check classified used motorcycle parts on the net and the paper to see if you can find a basket case late shovel. Even if it’s over the 2500 dollar mark you could make back most if not all of your money by selling the frame, front end, wheels, tranny whatever you don’t need. Another suggestion might be to put a wanted poster in the local bike shops. Someone might have one sitting in their garage they’re looking to unload.

Paul asks…

what exactly is broad form coverage for car insurance?

my insurance ran out. i dont really need a full coverage on car insurance since my car is old. I have a lifetime medical insurance. Im a pretty confident driver.

Administrator answers:

Be V ERY careful buying this kind of insurance.

“broad form auto insurance”:

This type of auto insurance is usually dirt cheap, as it only provides liability insurance (uninsured motorist coverage and personal injury protection can be added), and eliminates the variable of risk for the insurer by excluding every human being on the planet, other than the named insured, for coverage.

Also, there is no option to purchase physical damage coverage, which keeps the costs down.

It may also be referred to as “Broadform Named Operator Coverage.” The “Named Operator” portion is the crux of the broad form auto liability policy.

Essentially, this is a policy for the individual who lives alone and NEVER allows anyone else to drive their car.

Here are some bullets of note on this type of policy:

- Coverage is only provided for named insured – no one else is covered if they borrow your car – keep in mind you can still be sued for damages resulting from someone else driving your car.

- It is a liability-only policy: No coverage is afforded for physical damage to the vehicle.

- You can drive any car you own or have permission to use. Whether it’s 1 or 20 different cars, it doesn’t matter, and the cars don’t even have to be listed on the policy. There is no physical damage coverage so the insurer doesn’t care what car you are in…as long as you didn’t “borrow” a vehicle without permission.

- Broad form coverage is secondary for insurance claims purposes if you borrow someone else’s ride that has existing coverage.

Example: You cause an accident that injures somebody while driving a borrowed car (that is listed on another policy). The car owner’s liability limits would have to be exhausted before the broad form policy will cough up any money.

- We are talking cars only: No coverage while on a motorcycle or operating a vehicle for business use, which would require a commercial vehicle insurance policy.

Tread Cautiously

Trying to purchase this policy to save money, when you are not the only driver of a vehicle, is a huge mistake and will not work out for you.

Many claims from this type of policy end up in court, as it is almost inevitable that a person not listed on the policy (but actually drives the car) will get into an accident if you have it long enough. You’ve been warned.

Another thing to consider is that this type of coverage can be confused for broad form comprehensive coverage for an automobile, which is on the opposite end of the spectrum from the policy described in this post.

Broad form comprehensive coverage actually “broadens” the types of losses you are insured against.

Typically, comprehensive auto insurance coverage limits the types of damage you are covered against to some pretty basic items. Broad form “comp” insures you against just about anything that can damage your car.

Note: The broad form named operator policy can be difficult to understand and lends itself to potential abuse (a cheaper policy), but can land you in hot water financially if someone else operates your vehicle and causes bodily injury or property damage to someone else.

This policy form is not available in every state. In fact, some states that offer it are currently reviewing the policy forms to determine if it satisfies the legal requirement for a state mandatory liability policy.

Why? It’s VERY restrictive in some respects (and very unrestrictive in others). In fact, it can be referred to as a “restrictive form” policy by insurance professionals.

You will likely never hear it called by that name, as it’s difficult to sell an insurance policy by using terms like “restrictive” when you’re referring to coverage!

Be sure to speak to a local independent insurance agent if you have more questions regarding either of these types of car insurance.

Susan asks…

Can I buy a Motorcycle of 20grand a year income?

I want a nice Motorcycle, could i get one with all the insurance and tax and other stuff from this sallery?

Administrator answers:

Buy a cheap used reliable late model motorcycle. For cheaper insurance, one of the 3 250cc cruisers or a S40, liability only. Be sure any collision is not at your fault. I ride full time, about 4,000 miles a year for under $1,000 a year, in LaLaLand.

Donna asks…

What’s the correct way to go about getting my motorcycle license in TX?

I’ve ordered a moped (that goes faster than 30) and my plan is:
1. Get insurance
2. Go to motorcycle driving classes
3. Register the moped
4.Take the license test
5. ride?

Are those all the steps? Are they in the right order?

Administrator answers:

How old are you? If you’re 18+ then you can take an MSF course and take the certificate of completion to your DPS Driver’s License office, take the written test (20ish questions) and you’ll have your license.

I’d get the insurance after you take the course and get the license because you’ll get a cheaper rate.

From there register the moped and have fun riding and keep the rubber side down!

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