Low resale value

[Houtman_imp]

I guess I have to ask what you all define as “basic” insurance.

I define "basic" insurance as the insurance you HAVE to HAVE in the state you live , every state has some difference in the amounts .
I live in NC and this is different than when we lived in Upstate NY.
I never have theft, fire or comprehensive insurance on any of my bikes , that risk I can take myself.
Have been with Progressive for over 30 years , never put in a claim yet and pay about $ 80 for each of my 3 bikes.
My insurance in New York was much cheaper for the following reasons :
shorter riding season , safer roads than WNC and less tourists
Insurance companies know more about you than you think.
Having good credit also lowers your insurance rates , less likely to put a claim in for something.
One of my farmer customers in Upstate NY always wanted to "break even " on his insurance premiums by putting claims in for something.
I warned him that sooner or later nobody wanted to insure him and that happened after changing companies 5 times in 7 years.