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Do you have to have full coverage on a sports bike if you get a bank loan or will liability due?


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2011-09-13 02:08:59
2011-09-13 02:08:59

More than likely your lien holder will require you to carry collision and comprehensive coverage in addition to liability coverage, this is to protect them/their investment.

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It is most likely a liability coverage if you should injure someone while riding your bike you would be covered to the limit of the policy. Ask your agent.

Your health insurance would pay for your injuries. You would have no coverage for your liability (damage you caused to other people's property or persons) or for the damage to your motor bike.

You are looking for liability only coverage. You should also consider uninsured & underinsured motorist coverage which will supply medical payments if you are injured by an uninsured or underinsured driver.

No. It would be insurance fraud to up to full coverage for a missing bike and then claim it was stolen. Quick ride to jail. Report it to police and you may recover it.

"Progressive, Geico, and Allstate offer bike issurance, however, classic bikes may actually be cheaper to insure due to the lower claims rate. Fully comprehensive and liability insurance cost more, and there are many coverage levels. Typically, insurance might run you $80-$300 a month depending on your coverage level and value of your bike."

In TX, you are only required to have liability by the state, but if you get the bike financed the lending institution will require full coverage so they dont get stuck w/ your loan should you screw up your bike. However, state laws can vary, so ck. w/ your agent to be absolutely sure.

A car is powered by a motor, a bike is powered by a human, think.... Answer: a sports car

Do you want new or used sports bike and which type of sports bike do you want? There are many sports bikes available in market. If you want new so here is Ducati Sports Classic just in 11,06,000.

That depends on if you currently own 100% of the value, or are still paying a loan for the dirt bike. If you own the dirt bike then it would be a personal asset. If you are paying on a loan for the dirt bike, then it is a liability because you are liable to pay the monthly payment.

Most motorcyclists get at least liability on their bike, in case they are involved in an accident that injures someone else. Liability alone can cost between $100 and $400 per year. If you purchase additional coverage such as collision or comprehensive, your premium will increase.

I don't think you can change your bike.

Yes, if you have a MV Operators License, a motorcycle drivers license and liability insurance on the bike.

Depends on how much they owe on the bike and if the price of the bike includes pay off to their bank and you get the title. If there is a lean holder on the bike and after you buy it you don't get a title then no I would not buy the bike.

If you are speaking of physical damage coverage, if you have no loan or an unsecured loan such as a credit card then you are not required to carry this coverage for the bike itself. However if you plan to drive it over the road, every state has requirements for minimum liability coverages that must be carried. So if you cancel the insurance and still drive it not only are you in violation of the law but if you cause an accident you will be completely liable for any damages and injuries and will have no coverage. Typically minimum limit liability policies are inexpensive.

YES! You just have to pay for the coverage & premiums, deal with proposals etc.

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There are actually several sports shops that are close to east Rochester that you might be able to ride your bike to. They are located along Washington and Commercial street and include Bell Racquet Sports and Pennfair Golf.

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