by Guest » Thu Jun 23, 2011 09:36 pm
I was going to get the Yamaha R6S, but I heard that if you don't have the pink slip for the bike and you get insurance, that they will charge you double for insurance or a lot more money. If thats the case then I'll just get a Kawasaki Ninja 250R, but I would really like a R6S. I just wanted to know if financing a motorcycle would cause insurance to go up?
Posted: Thu Jun 23, 2011 09:38 pm Post Subject:
Whether you own the bike or not doesn’t affect your premium, however, it may affect the coverage’s you are required to purchase. If you have a loan on the bike, the bank will require you insure the bike for comprehensive and collision coverage. These coverage’s are significantly higher than just liability only on a motorcycle policy.
Posted: Thu Jun 23, 2011 09:58 pm Post Subject:
Think of it this way, if you hit something with your bike, you probably won’t cause a lot of damage. However, if your bike goes down, it probably will be damaged. Therefore, to purchase liability on a motorcycle is typically inexpensive; whereas to purchase physical damage on your motorcycle is more costly.
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