Fianance for bikes.

Really !? Surprises me. Wasn't like that last time I used them.

 

She already got a new push bike ;-)

Of course


G-S

 

the only type worth doing business with - a credit union!

 

....and if you can afford insurance, you can afford another bike, so
you might as well get that instead.

 

But then you can't afford the insurance for the other bike and you are
back where you started


G-S

 

So you buy a bike that costs exactly the same as the insurance, and
don't bother to get it insured. If you happen to write it off (or it is
stolen) then you're out for no more than the insurance would have cost
you anyway and finish up even. And if nothing happens for at least a
year, then you're ahead by even more.

 

What if you crash the 1st bike not the 2nd bike then you are out by much
more than the cost of the insurance.


G-S

 

If the cost of insurance equals the cost of the bike, then not paying
insurance on the first bike saves you sufficient money to buy the second
bike. And since the insurance is effectively cancelled upon paying out,
you would have to pay up again for the second bike. So not paying
insurance on the second bike saves you sufficient money to buy the third
bike if you trash the second...

 

Yes but it takes roughly 20 years for the insurance cost to add up to
the bike cost (at least if one rides a non-supersport bike and has
rating 1).

Do you crash less than once every 20 years?

G-S

 

Since you ask, Yes.

Moike
(but for me comprehensive insurance is less than $100 more than TPP.)

 

I was referring specifically to those people to crash sufficiently
often, or are sufficiently inexperienced, that their premiums are
sufficiently high as to warrant such considerations. There was someone
on here the other day who was faced with a $3000-$4000 insurance premium
on a bike worth not much more than that anyway. For the rates they were
charging, he'd only have to have avoided a claim for 18 months and he
would have saved as much money through not having insurance as he would
have otherwise paid in premiums.

For myself, I haven't crashed a bike in 7 years of riding, have only
ever had to make a claim for theft, and make a point of getting bikes
that are actually worth insuring in the first place and affordable to do so.