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Thread: Insurance replacement of Riding Gear

  1. #16
    Fortis Fortuna Adiuvat Omega Man's Avatar
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    Quote Originally Posted by jad01 View Post
    Somehow I can't see homeowners insurance covering riding gear that was stolen or damaged in an accident that didn't occur in your house or on your property.
    Iím puzzled as well. Insurance seems to be an evil necessity. Stories of insurance donít seem to relate to any of my experiences. I even find the ads for insurance troubling. If the ads are geared to a specific group and are actually working........
    OM
    "You can do good or you can do well. Sooner or later they make you choose." MI5
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  2. #17
    Sadly, Insurance is one of the few industries where the customer and the vendor are pitted against each other. Think of whatever business you are in and think about low-balling and arguing with every one of your clients that isn't just mailing you checks every month. Their 'job' is to pay as few claims as possible at the lowest amount as possible...not unlike the extended warranty industry.

    The only other option I see is a self insured option (or maybe federal insurance, but that would be a total disaster I'm sure like everything else the Gov't touches), but that clearly doesn't work either. Those that 'have' would be taken to the cleaners in an accident and those that don't 'have', would skate by on somebody else's dime. Prime example is uninsured motorist coverage. So basically you have to pay for your insurance in case you hit somebody, but you also have to pay for insurance for that someone that hits you that chose to subvert the system and not pay for insurance.

    We just had an uninsured motorist coverage in our business and I'm glad we had coverage (damage was about $23k to the vehicle). But make no mistake, we have been paying for someone else's insurance for years.
    2018 BMW S1000XR / 2018 BMW R1200RT / 2015 Yamaha FZ-09

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  3. #18
    Fortis Fortuna Adiuvat Omega Man's Avatar
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    Way back when......
    I used to think that, beyond mandatory applications, insurance was like going to Vegas. You took the risk, bought the policy, and when you needed it- it would pay as the house lost.
    Seems like I have been wrong for quite some time on this insurance issue.
    OM
    "You can do good or you can do well. Sooner or later they make you choose." MI5
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    2009 F800GS 1994 TW200

  4. #19
    Quote Originally Posted by speedyatl View Post

    The only other option I see is a self insured option (or maybe federal insurance, but that would be a total disaster I'm sure like everything else the Gov't touches),
    I cringe every time I read a sentence like this one. I personally am pretty happy with the Armed Forces, public water systems, mortgage insurance, highways, the FAA and many other things the government touches. YMMV
    Paul Glaves - "Big Bend", Texas U.S.A
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  5. #20
    Registered User jr31's Avatar
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    Quote Originally Posted by PGlaves View Post
    I cringe every time I read a sentence like this one. I personally am pretty happy with the Armed Forces, public water systems, mortgage insurance, highways, the FAA and many other things the government touches. YMMV
    My mileage varies.

  6. #21
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    Discount Double Check

    For the record, State Farm's Discount Double Check has nothing to do with the DISCOUNT. It's a time to sit down with your agent and go over your coverage with a fine tooth comb. The benefit to your agent is that he is likely to sell you more coverage. The benefit to you is to make sure you have the coverage you want.

    Discount Double Check is a State Farm slogan. But, i advise everyone to do this with their agent regardless of the company. Every 3-5 years your needs might change.

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