Motorcycle Rental Insurance

Posts Tagged ‘Money’

buy bikes being totalled by insurance company:

Question by KiNG*: Would it be better to keep making payments on my totaled car, and use insurance money for a new one?
Here is the situation:

My car was stuck by a semi from the rear, and the truck driver’s company who has their own insurance company, has given me a check for the car, claiming it to be totaled.

This is where things get tricky, The company DOES NOT want my totaled car, stating the title will be delivered to the shop or person in possession of the vehicle, who happens to be me.

Now I have my car which has sever damage done in the rear driver side, and a check for the car in an amount to pay the entire loan off. The damage to the car can be fixed, and the car is drivable and also has a brand new engine.

Another twist to the story is that I am moving in a couple of months (mostly delayed by the fact that i have physical therapy to attend) And otherwise have cut off most of my ties to my current hometown, and in desperate need of a vehicle.

The vehicle i planned on purchasing next is priced at $ 5,400 but the dealer said he would give me a better deal if i decided to pay cash instead of financing. My car loan is currently $ 7,493, and the check i am receiving for the car is $ 7,700.

Now this car was my first major purchase, and besides a credit card, a cell phone, I have nothing else in my name, and did not qualify to finance the motorcycle with the price at $ 5,400 without a co-signer.

Now I am only 20 yrs old, and have had my car for 2 whole years this July. Would it be better for me to pay the loan off on the car, then try again to apply to be financed on the bike, or to take some of the payment for the car to buy the bike outright, use whats left towards the loan and continue making monthly payments of $ 230.

In my eyes either way I will have a car note, and I am moving to Hawaii (for school) So the car was never in my plans to begin with, and now I would have a payed for car that i was going to give to my dad (who owns the shop) to fix for my younger brother anyways. And I was going to ship my bike over because cost of bike + shipping is still cheaper than total cost of the bike in Hawaii.

And I don’t know much about it, but would I in any way qualify to refinance the car, say if I did make a lump payment of $ 2,000 or $ 3,000 bringing the loan down to $ 5 or $ 4,000 would that help lower payments any?

Thanks in Advance for any and all help!!

Best answer:

Answer by Roger M
Pay off the loan. If the company that holds the loan finds out it is totaled, they will demand the entire amount immediately.

Give your answer to this question below!

motorcycle insurance quote

I only need insurance on my bike for like a week and progressive only gives me the option to either pay the full 12 month cost (5) up front now OR 2 payments a year which is 5 up front right now. Im not paying 5 when im only going to be riding it for a week…?
Should i tell them that im only going to have insurance on it for a week? And will they refund all my money back?

harley rentals

We aren’t going until November, but I was curious of what kind of money we are talking since car rentals are so high!
There will only be two of us in the cab unless some total strangers want to share it.

And, where do we catch this ferry? And, does it drop us off within walking distance of the business district?

compare motorcycle insurance

I mean the minimum required by law in your country. in some places it’s only medical coverage in case of accident, in others third-party insurance is mandatory as well – please elaborate in your answers.

I ask because where I live (Israel), it would cost 3 times as much to purchase mandatory insurance for a 250CC bike than for a compact car, and the bike fees are going to get yet higher soon – so I wanted to learn how it goes in other countries.
Edit:

Mr. "ride all year", I ask this only because the insurance companies here claim that even as it is, with the bike insurance being 3 times as much as car insurance (insurance that only cover possible injuries both to the driver and third side, but no property damage whatsoever) – the insurance companies claim that the risk the bikers pose is yet higher than that. I just wanted to know whether it’s bullshit or not, and I assumed that in no country would insurance companies agree to actually lose money.
the problem here is that car owners believe they are partially paying for the biker’s insurance, and therefore support the position of the companies.

how much motorcycle insurance do i need

I am thinking of buying a scooter to save money on gas. I just want to know how much it is really going to cost. If I need motorcycle insurance, or a motorcycle stamp. Any information would be greatly appreciated.

scooter insurance

I am 19 years old and wanting a gas powered scooter for local commuting and riding around college. How much does insurance on one of these run? If you do not have one currently insured then don’t answer because I know it is not the same as motorcycle insurance since scooters only get up to 45 mph. Thanks!
p.s. "who cares" I work for the state department full time and have the money for insurance. I am just wondering how much it runs because I like to be responsible with money. If the costs of insurance make up the savings in gas then it is not worth getting one.

moped rental

Hi All,
I have had enough of the sh*ty wether and jobs, working 40 hours a week beside the dull and the weird.
So I have grew a pair and I am puting my money where my mouth is, I am feking of to spain this summer to open a moped rental Business .
Ive got the enthusiasm got the bikes got a couple of spanners a beat up lutton van with a dodgy trailer and a chunnel ticket just one problem, I aint got a clue how to run a moped rental business.

I am thinking it can’t be that difficult, get a pitch some insurance for the bikes and away we go??.

Any pit falls or any advice in general would be gratefully appreciated.

rental motorcycle insurance

I move 5 hours away from my Grandaughter to be with my fiance, on wednsday he tells me he was going to rent me a car so I could go see her for Mother’s Day, (we have a relatively new but very thirsty 4 wheel drive truck and would proly cost 150.- 200.$ to take it),but that the rental place has moved so instead he spent the money for his motorcycle insurance……? am I just being self centered?? I have not seen her since Feb. and she now has a baby sister who I have not held yet.

atv insurance

Our Insuance is Progressive…We just bought a brand new Atv cost us over 00, we have only used it 4 months.My Grandson rolled it , he is fine, but the Insurance Company just keeps giving us the run around, They have done nothing …but lie everyday they say tomorrow …but tomorrow never comes. Is there someone I can go to for help? We paid our bill to them, they didn’t have to beg for there money, now they don’t want to pay!

motorcycle insurance

I’m 17 and need to save money for a vehicle and I’m leaning towards a motorcycle because they are relatively cheap and fuel efficient. How much is insurance though?

motorcycle insurance comparison

I currently have a car through my parents car insurance but I really want to branch out on my own and get my own insurance so I’ve been thinking about finally pursuing my dream of getting a motorcycle. They’re cheap, run well, and from what I gather insurance is very cheap. Could anyone tell me what kind of money I might save in Pennsylvania or New Jersey in comparison between a motorcycle and a regular car? Thanks.