1st time insurance in CA...is this enough? - BMW Luxury Touring Community
 
LinkBack Thread Tools Display Modes
post #1 of 14 Old Nov 12th, 2007, 9:27 am Thread Starter
Senior Member
 
rmg08057's Avatar
 
Join Date: Jun 2002
Location: Auckland, Aotearoa, New Zealand
Posts: 1,092
1st time insurance in CA...is this enough?

G'day, I am going for CA insurance for the first time. Are these Coverage limits sufficient?

Bodily Injury Liability each person/accident: 250,00/500,000
Property Damage each accident: 100,000
Uninsured Motorist (Stacked) each person/accident: 250,000/500,000
Underinsured Motorist (Stacked) each person/accident: 250,000/500,000
Pedestrian: 5,000
Comprehensive and Collisonon cycle: 40,000
Optional Equipment: 3,000
Deductible of 500 for each of Comprehensive and Collision

Moving from PA insurance, checking McGraw, Geico and Progressive.

Any advice?

TIA.

Ralph
Located: Auckland, New Zealand...
but I left my biking heart along the Scenic Byways of America.....

"Come fill the cup that clears
Today of past regrets and future fears." ....Omar Khayyam
rmg08057 is offline  
Sponsored Links
Advertisement
 
post #2 of 14 Old Nov 12th, 2007, 9:33 am
Senior Member
 
OKUIII's Avatar
 
Join Date: Oct 2002
Location: Irvine, California,
Posts: 565
Red face

Hold on to your wallet!!

O. K. Upchurch III
Irvine, California

2016 R1200gs
2000 K1200LT (Best Bike #1)
1997 R1100RT (Best Bike #2)
1995 K1100LT
1990 K75RT
OKUIII is offline  
post #3 of 14 Old Nov 12th, 2007, 11:40 am
Super Moderator
 
DavidTaylor's Avatar
 
Join Date: Apr 2002
Location: San Jose, CA, USA
Posts: 7,565
Where you have 250,000/500,000 I carry 100,000/300,000, and I feel comfortable with that level being a homeowner and the other considerations that go into this. I carry all of my insurance (cars, bikes, house) with State Farm, and my agent is an avid (bordering on insane) BMW rider. Al Olseen is his name - 408-274-4900 - but Clare is who helps me out and she's great. Tell her I sent you.

David Taylor
San Jose, CA
2010 R1200RT Polar Metallic
AMA, BMWMOA
Booze Brother #4

The shortest distance between two points is for people who don't ride!



To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
DavidTaylor is offline  
 
post #4 of 14 Old Nov 12th, 2007, 1:47 pm
Senior Member
 
Tallyho's Avatar
 
Join Date: Mar 2004
Location: Roseville (Gateway to the Sierras), CA, USA
Posts: 2,083
Your coverage looks good and at a reasonable level but I would recommend the following changes. Change the bodily injury liability to $500K/$1M. Reduce the uninsured motorist and underinsured motorist to no more than 100/300. I prefer a lower deductible myself but it really is a personal choice on the value proposition. The cost change should be negligible. Finally, check out Foremost Insurance. It is only available through independent brokers. I have never been able to find anyone that comes close in cost and after a few years of uneventful riding(performance awards, spontaneous disassembly) it gets even better. They also honor discounts for MOA club membership and completion of ERC. Well worth having a separate policy. If you have a lot moving violations(points) or chargable accidents don't bother. Stick with Geico or Progressive.

http://www.foremost.com/products/motorcycle/

Bob Morrow #4204
2014 K1600GTLE "Firefly" GTL 4 Two
2002 K1200LTE "Green Hornet" LT 4 Two (history)
"Kyrie Eleison down the road that I must travel"
Tallyho is offline  
post #5 of 14 Old Nov 12th, 2007, 5:59 pm
BMW Guru
 
Ted Shred's Avatar
 
Join Date: Feb 2003
Location: Nor Cal, , USA
Posts: 8,469
Quote:
Originally Posted by rmg08057
G'day, I am going for CA insurance for the first time. Are these Coverage limits sufficient?

Bodily Injury Liability each person/accident: 250,00/500,000
Property Damage each accident: 100,000
Uninsured Motorist (Stacked) each person/accident: 250,000/500,000
Underinsured Motorist (Stacked) each person/accident: 250,000/500,000
Pedestrian: 5,000
Comprehensive and Collisonon cycle: 40,000
Optional Equipment: 3,000
Deductible of 500 for each of Comprehensive and Collision

Moving from PA insurance, checking McGraw, Geico and Progressive.

Any advice?

TIA.

ScottyDawg turned me onto WAWANESA INSURANCE

I was happy with 21st Century but I saved a bunch of money and the customer service is just as good.

__________
2016 R1200GS Adventure
2006 DRZ400E

2007 G650 X Challenge
2006 GT200
2005 R1200GS


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Ted Shred is offline  
post #6 of 14 Old Nov 12th, 2007, 7:08 pm Thread Starter
Senior Member
 
rmg08057's Avatar
 
Join Date: Jun 2002
Location: Auckland, Aotearoa, New Zealand
Posts: 1,092
Ted, I looked on their site and it was Canada only.

Ralph
Located: Auckland, New Zealand...
but I left my biking heart along the Scenic Byways of America.....

"Come fill the cup that clears
Today of past regrets and future fears." ....Omar Khayyam
rmg08057 is offline  
post #7 of 14 Old Nov 12th, 2007, 7:10 pm
BMW Guru
 
Ted Shred's Avatar
 
Join Date: Feb 2003
Location: Nor Cal, , USA
Posts: 8,469
Quote:
Originally Posted by rmg08057
Ted, I looked on their site and it was Canada only.
They're US based out of San Diego. I'll find the link...

__________
2016 R1200GS Adventure
2006 DRZ400E

2007 G650 X Challenge
2006 GT200
2005 R1200GS


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Ted Shred is offline  
post #8 of 14 Old Nov 12th, 2007, 7:11 pm Thread Starter
Senior Member
 
rmg08057's Avatar
 
Join Date: Jun 2002
Location: Auckland, Aotearoa, New Zealand
Posts: 1,092
Thanks everyone, some good ideas in there.

Can you tell me something though.....my PA insurance had Comprehensive and Collision with a max of 40k. Is there anything to be saved by reducing this because in reality the bike is worth a lot less than this figure and I assume you only get what the market valuation is.

Ralph
Located: Auckland, New Zealand...
but I left my biking heart along the Scenic Byways of America.....

"Come fill the cup that clears
Today of past regrets and future fears." ....Omar Khayyam
rmg08057 is offline  
post #9 of 14 Old Nov 12th, 2007, 7:12 pm Thread Starter
Senior Member
 
rmg08057's Avatar
 
Join Date: Jun 2002
Location: Auckland, Aotearoa, New Zealand
Posts: 1,092
I found it......CA links and all. Ta.

Ralph
Located: Auckland, New Zealand...
but I left my biking heart along the Scenic Byways of America.....

"Come fill the cup that clears
Today of past regrets and future fears." ....Omar Khayyam
rmg08057 is offline  
post #10 of 14 Old Nov 12th, 2007, 7:13 pm
BMW Guru
 
Ted Shred's Avatar
 
Join Date: Feb 2003
Location: Nor Cal, , USA
Posts: 8,469
Quote:
Originally Posted by rmg08057
Ted, I looked on their site and it was Canada only.
Here ya go - http://wawanesa-insurance.net/wawanesa-san-diego.php

__________
2016 R1200GS Adventure
2006 DRZ400E

2007 G650 X Challenge
2006 GT200
2005 R1200GS


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Ted Shred is offline  
post #11 of 14 Old Nov 14th, 2007, 9:06 pm
Senior Member
 
Join Date: Apr 2004
Location: Woodbridge, CA, USA
Posts: 441
Alternatives on Insurance

The following applies to all liability insurance, including bikes, autos/trucks and residential/home owners.

The value of this strategy can vary greatly dependent on the carrier or carriers you have for the above referenced coverages(s).

Umbrella liability policies typically provide $1 million (or what ever limit you wish for higher premium) coverage that kicks in AFTER you reach the limit of the base coverage. My $1 million umbrella policy costs about $125 per year.

The key is can you save enough (by purchasing lower limits) on the base policy premiums to offset the cost of the umbrella. My umbrella requires a minimum of 100/300 liability coverage on the bikes and cars.

With 2 bikes and 2 cars, I am saving several hundred dollars annually while enjoying the $1 million dollar limit per incident.

There is no guarantee your numbers will be similar, but it's worth an inquiry to your broker.

Good luck!!
TheSnake is offline  
post #12 of 14 Old Nov 14th, 2007, 9:37 pm
Senior Member
 
hallzee's Avatar
 
Join Date: Mar 2006
Location: Gold Country, CA, USA
Posts: 2,571
$2M umbrella, just over $200.00 a year for me.

Brian
CCR: 2008, Midway; 2011, Boise; 2012, Duluth; 2014, Chattanooga. MOA: Billings, 2015; SLC, 2017
CCR-R: 2018, Russellville
'13 K1600 GTL-P - "Eva"
Sold but "beloved" ride: K12 LT - "Pepe"
IBA #31242 (SSx2, BB, BBG)
MOA #136148

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
-
hallzee is offline  
post #13 of 14 Old Nov 15th, 2007, 11:51 pm
 
Join Date: Jun 2007
Posts: 25
The most important coverage of all is the uninsured/underinsured motorist coverage. That's the only coverage that is going to help you recover from the inevitable injuries due to someone's negligence. Any recommending lower UM simply doesn't know what they are talking about. Uninsured motorists, are problem enough, but the coverage also applies to "underinsured". Someone pulls out in front of you, even if their company pays you the 100k or 15k, you then collect from your own insurance for the needed extra. Also, and alot of people do not know this, your insurance company can advance you money on the coverage to help with bills while you are recovering under UM. This coverage pays medical bills, lost time off, physical therapy, chiropractic, dental, permanent disability, temp. disability, etc. I ride defensively, but if someone takes me "out", I am going to need quite a sum to cover my damages. Some umbrellas allow you to increase your UM up to a million or more. My company does not include the umbrella option anymore. I will have to give Al Olseen a call sometime and say hello and congrats on riding these great machines. Bob Griffin, State Farm Agent, 31 years.
xharleyrider is offline  
post #14 of 14 Old Nov 16th, 2007, 8:06 am Thread Starter
Senior Member
 
rmg08057's Avatar
 
Join Date: Jun 2002
Location: Auckland, Aotearoa, New Zealand
Posts: 1,092
Thanks everyone, a lot of quality input here. 1st time I had heard of umbrella insurance. Very interesting.

Ralph
Located: Auckland, New Zealand...
but I left my biking heart along the Scenic Byways of America.....

"Come fill the cup that clears
Today of past regrets and future fears." ....Omar Khayyam
rmg08057 is offline  
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the BMW Luxury Touring Community forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in











Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Similar Threads
Thread Thread Starter Forum Replies Last Post
Last Visit Time: astuber K1200LT 1 Feb 19th, 2007 3:27 pm
Bike Insurance mitch Bike Talk 27 Feb 10th, 2007 11:01 am
Got me a big ol' INsurance discount... petevandyke Chit Chat 16 Jan 27th, 2007 12:23 pm
Florida Insurance & Helmet Law Road_King South East 4 Apr 25th, 2006 9:23 am
LT Insurance Reid K1200LT 22 Feb 26th, 2006 10:42 pm

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome