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Discussion Starter · #1 ·
I got my annual bill today,
$274.00/year for 2005 model.
100/300/50 and 3K in additions
Uninsured or Underinsured = 100/300
and Deductibles = $100 Comp/ $250 Collision
+ Roadside assistance.

They have an option of "Full Replacement Value" which, to me is new.
They said that, if the bike is totaled, they will pay FULL MSRP of a new bike, same type. Has anyone read into this or purchased that option?

Good deal (depending on price I imagine) ???
What Say Ye ?
 

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Sounds like gap insurance. If the bike is a loss, they will pay off your loan in full instead of just the wholesale value. I bought it with my bike financing.
 

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Full Replacement

How much for the new Goldwing? I would think it would get people sending the bike over a cliff... Damn, sidestand gave out and it rolled all the way down the mountain. :wrong:
 

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Sounds like gap insurance. If the bike is a loss, they will pay off your loan in full instead of just the wholesale value. I bought it with my bike financing.
I don't think that has anything to do with Gap insurance (which I consider a horrible deal, btw).

I think what he is talking about is simply the difference between an insurance company paying the diminished value versus replacement cost. You don't even have to have your bike financed to receive the benefit.

I have no idea whether its a good deal or not, it depends on how much extra it costs and is a personal decision. I personally carry a high deductible and try to minimize my insurance costs because I very seldom have a claim on any of my policies and I consider myself to be fairly low risk.

The way I look at it is that even if I do have to make a claim sometime, I have to weigh how much I have saved over many years and many policies by sticking to my strategy.
 

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How much for the new Goldwing? I would think it would get people sending the bike over a cliff... Damn, sidestand gave out and it rolled all the way down the mountain. :wrong:
Hey, that stuff happens.....:shrug:
 

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The gap insurance was a one time $250 fee for the duration of the loan. I had to finance for 60 months, so it will be a while before the loan is not upside down.
 

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How I understand this works is they will pay MSRP on a new TO YOU 2005 Wing, or whatever year and model. But it is the MSRP on what was wrecked, not on a brand new off the showroom floor model of your however old vehicle.
 

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Rather than reading 20 or more guesses, why not consult with your agent, call, or read your policy. There will be very specific information in your policy. Then.... if you are not sure you can at least talk intelligently with whomever you speak with. Just a thought.
 

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Rather than reading 20 or more guesses, why not consult with your agent, call, or read your policy. There will be very specific information in your policy. Then.... if you are not sure you can at least talk intelligently with whomever you speak with. Just a thought.
That's crazy talk!!! Especially with so many correct answers here. :popcorn::joke:
 

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Discussion Starter · #10 ·
Just got off the phone with Progressive. First, I'll quote what's written on the statement:

TOTAL LOSS REPLACEMENT COVERAGE

Progressive is now offering Total Loss Replacement coverage for motorcycles ! With this coverage, if your motorcycle is ever totaled because of a crash or theft, we'll pay you the MSRP of a new one. NO kidding, it's that easy.
Well, even tho my statement said "Available to you", they really didn't mean ME. It's available for any motorcycle they cover 1 year old or less. Mine is a 2005. I think she mentioned $29/year cost as well.

Not a bad option if available, IMO.
 

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How much for the new Goldwing? I would think it would get people sending the bike over a cliff... Damn, sidestand gave out and it rolled all the way down the mountain. :wrong:
Be hard to do down here in this part of Texas:lol:
 

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Be hard to do down here in this part of Texas:lol:
You make a good point. The best we could do is rolling it off the curb :eek:
 
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Be hard to do down here in this part of Texas:lol:
Just ride into Houston where the fiery pits of hell are (anyplace inside loop 610). The pits are deep and the fire hot. :shock: Only place I ever wrecked a motorcycle (twice within two years) in my 18 years of actually riding and owning a bike.
 

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Rather than reading 20 or more guesses, why not consult with your agent, call, or read your policy.
Thats too easy! We're needing the theoretical versions from the board first!!! :joke:
 

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Go to www.Ask.com and type in "Who owns Progressive Insurance". After you receive your answer, you can then make an informed decision if this is where you want your money to go. Minds can be made up according to each political pholisiphy. As for me,; no thanks!
 

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Discussion Starter · #17 ·
Go to www.Ask.com and type in "Who owns Progressive Insurance". After you receive your answer, you can then make an informed decision if this is where you want your money to go. Minds can be made up according to each political pholisiphy. As for me,; no thanks!
My question was about the policy of Full Replacement.
It's sad that you had to turn this into one of your "Political Tirades".

Maybe next time, you'll try to adhere to the subject at hand...
Give it a rest huh ?!?!?
 
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