# Is collision required on financed bikes?
**URL:** https://forums.speedlife.net/t/is-collision-required-on-financed-bikes/155203
**Category:** NYSpeed Automotive
**Created:** [May 18, 2010, 7:45am UTC](https://forums.speedlife.net/t/is-collision-required-on-financed-bikes/155203 "2010-05-18T07:45:29Z")
**Posts on this page:** 10
**Page:** 2
### Author:  [@jay\_g](https://forums.speedlife.net/u/jay_g)
#### Post date: [May 18, 2010, 12:59pm UTC](https://forums.speedlife.net/t/is-collision-required-on-financed-bikes/155203/21 "2010-05-18T12:59:01Z")
^ marriage throws everything out the window when it comes to insurance.
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### Author:  [@Paulo](https://forums.speedlife.net/u/Paulo)
#### Post date: [May 18, 2010, 1:59pm UTC](https://forums.speedlife.net/t/is-collision-required-on-financed-bikes/155203/22 "2010-05-18T13:59:45Z")
> [@Motocrossx23](#):
>
> Full coverage for all financed bikes.
Cmon, you even work for M&T. They never even asked me about having full coverage on any of my bikes.
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### Author:  [@Tim](https://forums.speedlife.net/u/Tim)
#### Post date: [May 18, 2010, 2:57pm UTC](https://forums.speedlife.net/t/is-collision-required-on-financed-bikes/155203/23 "2010-05-18T14:57:13Z")
I just took a personl loan through HSBC when I got my bike and didn’t need full coverage but i wanted it because like everyone else said, If i crashed and it was totalled it would be a total loss and I would be paying for it still. I pay 40/month for full coverage on my 636 and i’m 25.
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### Author:  [@rdandy5875](https://forums.speedlife.net/u/rdandy5875)
#### Post date: [May 18, 2010, 3:05pm UTC](https://forums.speedlife.net/t/is-collision-required-on-financed-bikes/155203/24 "2010-05-18T15:05:12Z")
That’s kind of irrelevant though, a personal loan is unsecured by default so they don’t care if you flush the money down the toilet.
It’s also higher interest than a auto loan, so that’s doesn’t make much sense. If you are going to run full coverage anyways you could get a vehicle loan and save on interest.
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### Author:  [@goff](https://forums.speedlife.net/u/goff)
#### Post date: [May 18, 2010, 3:35pm UTC](https://forums.speedlife.net/t/is-collision-required-on-financed-bikes/155203/25 "2010-05-18T15:35:02Z")
i am required to have full coverage on my bike, it’s financed.
i pay $79 a month. 22 with a “clean record” on an '08 600rr with progressive. they were the cheapest.
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### Author:  [@Willybeen](https://forums.speedlife.net/u/Willybeen)
#### Post date: [May 18, 2010, 3:40pm UTC](https://forums.speedlife.net/t/is-collision-required-on-financed-bikes/155203/26 "2010-05-18T15:40:38Z")
i guess moral of the story is buy a liter, get married, and pay low insurance:)
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### Author:  [@drvnkd](https://forums.speedlife.net/u/drvnkd)
#### Post date: [May 19, 2010, 5:55am UTC](https://forums.speedlife.net/t/is-collision-required-on-financed-bikes/155203/27 "2010-05-19T05:55:08Z")
Back when I was pricing insurance (liability only) and I was not married etc…
My cheapest rates were through Nova…
Then my insurance agent turned out to be a dirtbag on a personal level and I went to progressive.
Anyone tried them for full coverage? I think JuicedSS used or had used Nova.
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### Author:  [@boxxa](https://forums.speedlife.net/u/boxxa)
#### Post date: [May 19, 2010, 5:56am UTC](https://forums.speedlife.net/t/is-collision-required-on-financed-bikes/155203/28 "2010-05-19T05:56:23Z")
Ya thinking more about it, I can not imagine not having full coverage on it. One lay down and its destroyed and even tho I can pay it off, I still have a 9k pile of metal where as I could file a claim and get it back working and selling or get a check.
Not sure where my original logic was. Glad this did stem to the insurance quote discussion becuase a 400/month insurance quote really worried me but nice to see that a random one through Progressive was under $150 so there is hope after I call around.
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### Author:  [@drvnkd](https://forums.speedlife.net/u/drvnkd)
#### Post date: [May 19, 2010, 5:58am UTC](https://forums.speedlife.net/t/is-collision-required-on-financed-bikes/155203/29 "2010-05-19T05:58:31Z")
Just think too… You might get into a not so terrible crash and get a nice salvage bike for cheap.
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### Author:  [@Willybeen](https://forums.speedlife.net/u/Willybeen)
#### Post date: [May 19, 2010, 6:25am UTC](https://forums.speedlife.net/t/is-collision-required-on-financed-bikes/155203/30 "2010-05-19T06:25:01Z")
I had nova for liability … i was 18… it was 180-240 for the year…
Then I bought a new bike… tried to transfer insurance to it… they needed me to come in and sign papers… (80 miles away) or cancel and get a new agent… I cancelled the insurance… went with a new agent… and was denied for coverage due to tickets 🖕
I then went with progressive and it was 400 for liability and comp… 1 year later i bought a liter bike (from my 636) and my insurance dropped to 600 full coverage and 200 for liability and comp…
which is what I have on it now… i pay 200 a year now… and collision is now only 400…
Nova, back in the day said either full coverage or liability only… apparently they got burned by a bunch of people who wrecked and claimed the bikes were stolen. :tdown:
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