Starwarrior (Lurker)

Thu Mar 19, 2009 8:09 pm

FAIL

billmi wrote:

In Florida, Personal Injury Protection (PIP) insurance isn't required for motorcycles. Florida doesn't require proof of insurance before it will issue a tag and a dealer doesn't need to see anything about insurance to sell you a bike, but you are required to carry liability insurance if you ride. From the Florida Motorcycle Handbook: Quote: Failure to carry liability insurance can result in the loss of your driver license, tag(s), and registration(s) if you are involved in a traffic accident, convicted of DUI or other occurrences as defined in the Financial Responsibility Law, Chapter 324, Florida Statutes. Collision/comp (reimbursing you for your bike after an accident) isn't required. As for Collision/comp being required if you finance - that depends entirely on how you finance and through whom. If the bike is collateral (as it would be for typical financing set up by a dealer) it will most certainly require collision/comp and will specify a minimum deductible value. If you use a credit card, or other unsecured line of credit, then no, collision/comp won't be required. Collision/comp is good to think about, even if you aren't required to have it. If you depend on the bike for transportation and can't afford to immediately replace it on your own - collision and comp can keep you going. If you are considering it - price it out at different deductibles. The higher the deductible the more affordable it gets - so if you budget to set money aside in savings to be ready for a higher deductible, you can save on insurance.

http://casey.hsmv.state.fl.us/intranet/ddl/motorcycles/cycles.cfm?getsubid=6

Florida is pretty Lassiez-faire when it comes to bikes. And motor vehicles in general. No insurance requirement, no helmet law, hell, kids don't even have to go through Driver's Training to get a license.

I disagree with collision coverage--even with most companies having a $1K deductible will run up your insurance to $500-900 a year. After one collision and 2 years, you could have just bought a new Ninjette.

Check out Geico, they cut me the best deal for living in NE Florida. Also, like others have mentioned, sometimes a bank will require full coverage to protect their investment. It all depends on who your loan comes from.

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• Re: Insurance if I finance — Molinaj31, Fri Mar 20, 2009 12:13 am

• Liability insurance is required in Florida. — billmi, Thu Mar 19, 2009 1:47 pm

  • FAIL — Starwarrior, Thu Mar 19, 2009 8:09 pm

    • Re: FAIL — billmi, Thu Mar 19, 2009 10:38 pm

      • Re: FAIL — djrussell, Fri Mar 20, 2009 12:41 pm

    • Re: FAIL — SpeedSouth, Thu Mar 19, 2009 8:26 pm

• The answer is simple, if you cannot pay for the cycle with cash... — M, Wed Mar 18, 2009 11:20 pm

  • Re: The answer is simple, if you cannot pay for the cycle with cash... — Molinaj31, Wed Mar 18, 2009 11:38 pm

    • simple — MyLittleGreenRocket, Sat Mar 21, 2009 3:44 am

    • The answer is Still simple.... — BrianM, Thu Mar 19, 2009 10:13 am

      • Re: The answer is Still simple.... — djrussell, Thu Mar 19, 2009 12:56 pm

    • Re: The answer is simple, if you cannot pay for the cycle with cash... — Ionized, Thu Mar 19, 2009 1:27 am

      • what i did — stevep, Thu Mar 19, 2009 7:22 am

    • Yes. It's the bank's bike and they want their bike protected. (n/t) — elenchos, Wed Mar 18, 2009 11:53 pm

      • a minor rewording — woot, Thu Mar 19, 2009 8:01 am