06-24-2019, 07:42 AM
(06-24-2019, 04:29 AM)The ferret_imp Wrote: I figure a little differently
My premium on the CB, full coverage, is $ 254 a year with a $500 deductible. Hmm let my cypher. If I totaled it or it was stolen today, and today's value on the bike from the insurance co is , lets go low, say $4K. In the 5 years I have owned it I would have spent 5 x $254= $1270 for premiums plus my $ 500 deduct = $1770 to recoup $4K
If I wreck it pretty good, say low side it in a corner, take out left engine cover,left muffler, gas tank, left turn signals f&r, bars, lever, mirror, foot peg shift lever, and some miscellaneous, all I pay is $500 and my bike gets fixed with new oem parts by a certified mechanic like new
Sea...anything wrong with my numbers or cypherin?
I'm a pretty cautious rider, but anything can happen and I'm not risking the kind of financial hit of not being covered.
If it was a $1500 junker, I'd risk it.
From my perspective, that is an ultra low premium.