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Old 01-04-2013, 03:45 PM   #46 (permalink)
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Originally Posted by F4sSprintST View Post
Get good uninsured/underinsured coverage
Not to hijack the thread, but why? I skipped on all but liability on 3 of my bikes about 15 years ago. I have saved enough compared to full coverage to have bought three or four bikes by now. Seriously. When I first priced dropping full coverage I calculated I could buy (back then prices) a new 600 every 4 years with the savings. You have to be able to afford to fix or replace if you crash or have a theft, but if you can do it the savings are well worth it.

BTW, the R1 price seems high to me as well. I paid 10.5 for a new 09 in 2010 from a dealer. Don't know about the 14.
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Old 01-04-2013, 03:57 PM   #47 (permalink)
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R1 has been no go. Buyer does not have title. I have been wanting to wofk it out and there is no way the title would be under my name after payoff. I do not want to get scam. I will be looking out for the bike again. If nothing comes up I will pick up the zx14 13,300 otd in a couple days.
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Old 01-04-2013, 04:31 PM   #48 (permalink)
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Originally Posted by tex929rr View Post
Not to hijack the thread, but why? I skipped on all but liability on 3 of my bikes about 15 years ago.
Not everyone is going to agree on insurance. And it would be made a lot easier if you just knew the days in advance when you'd need it, eh?

Let me illustrate a real-life example from a co worker on Un/Underinsurance.

My co worker's wife is driving home from her job. On a 2-lane road, a car crosses the yellow line and has a head-on collision with her. Everyone is alive, but she's injured and can't work for a while.

Her car is a 2007 Jaguar S-Type with $21,000 remaining on the car loan.
The other driver has an early 90's pickup that was in bad shape prior to the accident.

The other driver is carrying state-minimum liability which, for California is:

$15,000 for injury/death to one person.
$30,000 for injury/death to more than one person.
$5,000 for damage to property.

The other driver's insurance company, knowing it's a large settlement with a totaled car and injuries, writes a policy-limits check. $20,000. $5,000 for the car, and $15,000 for injuries. For the $20,000 check, they walk away, with no further liability in the claim.

My co worker checks his un/underinsured policy. It's the underinsured category that's coming to bat, as the driver DID have insurance that paid off. The underinsured policy limit for him is $30,000. (note: not $300,000, but 30,000.)

Once approached, his insurance company takes a look, sees a big claim and writes their policy-limit check. $30,000, you say? No.... Not quite. The write a check for $30,000 minus that already received by the prior payoff, so... make that $10,000.

Because of the low policy amounts involved, and the severity of the accident all of these policy-limit checks flew in the mail quickly, so the insurance companies could close the file right away. My co worker has a totaled 2007 Jaguar, and a wife that can't work for six months on her $65,000/annual job, and still has to pay for healthcare, prescriptions, rehabilitation and other fun expenses.

You say "Sue the other driver?" Well that's easier said than done. The lawyers (another cost) took one look and found him to have no valuable assets. Lives in an apartment, no significant money, and now, no truck either. Don't forget he's also injured and not working his $35,000/annual job.

What would the cost of higher un/under insured been to my co worker's family? He reviewed the policies, and found it was $40/year to have upped the un/under insurance portion to match his $300,000 liability that he carries.

Is this an extreme case? Yes. But I'm not making it up. It happened to my good friend and co worker in 2008, and this type of scenario unfolds every day to people all over the world. I hope it doesn't happen to you. But if it does, I hope you're carrying un/under insurance to help provide money during a time of need.
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Old 01-04-2013, 05:17 PM   #49 (permalink)
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Originally Posted by rgbeard View Post
Not everyone is going to agree on insurance. And it would be made a lot easier if you just knew the days in advance when you'd need it, eh?
I understand. But I am not faced with any of the issues your friend faced. I can afford to replace all of the bikes we own (the one that I can't afford to replace does indeed have full coverage and is probably irreplaceable). I have full health coverage (and the health insurance carrier will subrogate coverage in a case like this). My income will not change if I am hurt in an accident, but I am 55 and financially in a good place.

People must make their own decisions about things like auto insurance, but it is very easy to get into a spot where the potential payback is not worth it. I don't buy extended car and bike warranties, either. (OK, I have bought two on cars since 1982.)

I thought just like you until I realized just how gargantuan my insurance payments had become. When (as I noted earlier) I figured out that I could afford a new 600 every 4 years on the savings (600's were only about 6-7K back then) I was convinced. I reduced coverage on my bikes and cars and watch them all the time for places to save money.

I know if you're 25 and have one bike and one car with a loan and lien on each you can't afford to do this. I was in my mid 30's when I figured it out - so I am ahead something like 35K by now. An MV Agusta F3 and an RSV-4 and new leathers.

YMMV.
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Old 01-04-2013, 11:05 PM   #50 (permalink)
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Originally Posted by tex929rr View Post
I understand. But I am not faced with any of the issues your friend faced. I can afford to replace all of the bikes we own (the one that I can't afford to replace does indeed have full coverage and is probably irreplaceable). I have full health coverage (and the health insurance carrier will subrogate coverage in a case like this). My income will not change if I am hurt in an accident, but I am 55 and financially in a good place.

People must make their own decisions about things like auto insurance, but it is very easy to get into a spot where the potential payback is not worth it. I don't buy extended car and bike warranties, either. (OK, I have bought two on cars since 1982.)

I thought just like you until I realized just how gargantuan my insurance payments had become. When (as I noted earlier) I figured out that I could afford a new 600 every 4 years on the savings (600's were only about 6-7K back then) I was convinced. I reduced coverage on my bikes and cars and watch them all the time for places to save money.

I know if you're 25 and have one bike and one car with a loan and lien on each you can't afford to do this. I was in my mid 30's when I figured it out - so I am ahead something like 35K by now. An MV Agusta F3 and an RSV-4 and new leathers.

YMMV.
You're in an enviable position. Congratulations!!!

You asked why, though, and for your benefit, and the benefit of those that might trip on this thread, I have given a thorough answer.
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Old 01-05-2013, 07:44 AM   #51 (permalink)
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Need a price on this
2007 Kawasaki Ninja ZX14R. Special Edition White and Red. Full Muzzy Exhaust. Power Commander 3. The bike has 1800 miles on it. One adult owner. Maintenance done regularly and the bike is like knew. garage kept. What should I look for when buying the bike. Chain tires and what else
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Old 01-05-2013, 09:15 AM   #52 (permalink)
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ZX-14R is 2012+ everything else is ZX-14. I hope the seller wasn't make liking his ZX-14 is an R because it's an SE as well.

What's the price he has put it up for?

As far as what to look for Used Motorcycle Evaluation Guide Learn it, live it, love it.
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Old 01-05-2013, 10:25 AM   #53 (permalink)
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Need a price on this
2007 Kawasaki Ninja ZX14R. Special Edition White and Red. Full Muzzy Exhaust. Power Commander 3. The bike has 1800 miles on it. One adult owner. Maintenance done regularly and the bike is like knew. garage kept. What should I look for when buying the bike. Chain tires and what else

Assuming the bike is a 2007, and not a 2012, thus: ZX14 and not an R:

$7,000.

Chain, tires? Not with 1,800 miles.
Those should be like-new unless the 1,800 miles are all track days.
In any case, not bad to replace the tires immediately post-purchase. Their 5 to 6-year age would be reason enough for me to refresh them.
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Old 01-05-2013, 10:57 AM   #54 (permalink)
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Quote:
Originally Posted by tex929rr View Post
I understand. But I am not faced with any of the issues your friend faced. I can afford to replace all of the bikes we own (the one that I can't afford to replace does indeed have full coverage and is probably irreplaceable). I have full health coverage (and the health insurance carrier will subrogate coverage in a case like this). My income will not change if I am hurt in an accident, but I am 55 and financially in a good place.

People must make their own decisions about things like auto insurance, but it is very easy to get into a spot where the potential payback is not worth it. I don't buy extended car and bike warranties, either. (OK, I have bought two on cars since 1982.)

I thought just like you until I realized just how gargantuan my insurance payments had become. When (as I noted earlier) I figured out that I could afford a new 600 every 4 years on the savings (600's were only about 6-7K back then) I was convinced. I reduced coverage on my bikes and cars and watch them all the time for places to save money.

I know if you're 25 and have one bike and one car with a loan and lien on each you can't afford to do this. I was in my mid 30's when I figured it out - so I am ahead something like 35K by now. An MV Agusta F3 and an RSV-4 and new leathers.

YMMV.

I guess this is really shame-on-me for overthinking your first participation in the thread.

When you posted on 1/4/13, with "Why", that was directly aimed at the uninsured/underinsured portion of liability coverage. Thus, I gave a response with a real-life scenario on how that portion of insurance coverage is used and how payments are calculated.

What you really meant to say is: "I'm a special case. I have unstoppable income (trust fund, royalties, a self-running business enterprise, or just government checks?). I have sufficient cash on hand to cover any foreseeable situations, and I have health coverage that won't blink at serious injuries or disabilities arising from an accident."

In which case, I'd have simply said: Congrats.
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Old 01-05-2013, 11:14 AM   #55 (permalink)
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Quote:
Originally Posted by rgbeard View Post
I guess this is really shame-on-me for overthinking your first participation in the thread.

When you posted on 1/4/13, with "Why", that was directly aimed at the uninsured/underinsured portion of liability coverage. Thus, I gave a response with a real-life scenario on how that portion of insurance coverage is used and how payments are calculated.

What you really meant to say is: "I'm a special case. I have unstoppable income (trust fund, royalties, a self-running business enterprise, or just government checks?). I have sufficient cash on hand to cover any foreseeable situations, and I have health coverage that won't blink at serious injuries or disabilities arising from an accident."

In which case, I'd have simply said: Congrats.
No. I just have learned that you can spend too much money on insurance - just like you can pend too much, just like buying extended warranties on all sorts of things, or on whloe life insurance. I pissed away a lot of money on things like that. Now that I'm older I have learned. My financial good fortune is just that - good fortune. It doesn't make me special or smart, just fortunate.
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Old 01-05-2013, 11:18 AM   #56 (permalink)
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Just did a research. Is certificate of origin the same as a title. The seller only have a certificate of origin. Should i be worry
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Old 01-05-2013, 11:38 AM   #57 (permalink)
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Quote:
Originally Posted by rgbeard View Post
Assuming the bike is a 2007, and not a 2012, thus: ZX14 and not an R:

$7,000.

Chain, tires? Not with 1,800 miles.
Those should be like-new unless the 1,800 miles are all track days.
In any case, not bad to replace the tires immediately post-purchase. Their 5 to 6-year age would be reason enough for me to refresh them.
What about hosing and those mechanical parts. I dont have to worry so much if its under 2 k miles right

Response
Not a track bike. Will see the bike tomorrow. He does have the title that he will send pic so i can verify and hopefully I can pick it up for less than 7 k
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Old 01-05-2013, 11:54 AM   #58 (permalink)
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What about hosing and those mechanical parts. I dont have to worry so much if its under 2 k miles right

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Not a track bike. Will see the bike tomorrow. He does have the title that he will send pic so i can verify and hopefully I can pick it up for less than 7 k
Your worry about hoses and non-metallics would apply more to a nearly-new 1990 than a 2007.

2007 isn't that old.
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Old 01-06-2013, 11:48 AM   #59 (permalink)
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Updated on trying to get the r1 with lien from bank located out of state. I try to get a fax approval from seller stating after paying off the bike. Title will be in my name but that does not work. I am thinking to go to my credit union and have them pay off the amount and title to be transfer to them with a bill of sale. I will then pay off the bike the same day and when title comes i can have him sign it at credit union.
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Old 01-06-2013, 12:32 PM   #60 (permalink)
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Danger.

Are you indicating that you are not paying cash for a bike but that you will need a loan from your credit union? Or are you just using your credit union as a place to conduct the transaction? I cannot tell from your post.

The reason I ask for clarification is that if you have the loan from the credit union you are going to likely be required to carry full coverage insurance, which you had mentioned was $3,000 per year.

I asked this a few days ago and you didn't really say. I just do not want you to get a rude and expensive surprise.
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