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another insurance ? from a newbie

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Old Aug 27, 2007 | 06:48 AM
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Default another insurance ? from a newbie

ok im a newbie rider and my dad has been riding for a long time.. i cant get a hold of him right now so i thought i would ask you guys. if you finance a motorcycle are you required to have insurance? and if you do finance said bike and want to put it on your parents insurance to save some money does the bike have to be financed in their name?? im looking at getting a bike but i dont wanna be paying like 2500 a year in insurance.. im 19 live on my own and am married and yes i have ridden before and i have been riding since i was like 5. i would like to get a street bike so that when my car is down i have a way around town, also want a bike because i love riding with a passion. i'm looking to start small with like a gsxr600 or cbr600 or even a naked bike of the same size. thanks for any help in advance
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Old Aug 27, 2007 | 08:01 AM
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#1 If you finance a bike and have to pay less than 10,000 more off you dont need insurance.

#2 if you want your insurance in your parents names, have the motorcycle in there names as well.

goodluck.
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Old Aug 27, 2007 | 11:37 PM
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I am not sure either way. But i would not own a bike with out insurance. Especially when i have a loan out on it. I just don't want to be paying for something that is stolen or crashed. But either way good luck with the new bike hope you enjoy it.
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Old Aug 28, 2007 | 02:24 PM
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im still debating.. since im still a newbie with street bikes i might go with like an xr650l so that i can ride on and off road and get kinda used to riding with traffic before i step to something quick
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Old Aug 28, 2007 | 02:32 PM
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not only do you WANT insurance incase your bike is stolen/crashed but also if its going to be in your parents name (the cheap way to do it) its a no-brainer to have insurance since if you hit someone/something and fuck someone up real bad your parents will be the ones getting sued. anyways, i had my ninja in my dads name and under his insurance and it worked out well. best of luck to ya.
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Old Aug 28, 2007 | 04:15 PM
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there are ways around financing and insurance!!!

if you want a bike in your name but dont want ins., go to your bank and take out a personal loan for xxx amount of dollars. you can tell them whatever you want, just dont say anything about buying a bike. you should get a pretty low intrest rate and wont have to have ins. on you new bike
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Old Aug 28, 2007 | 04:46 PM
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true true.. but i dont think my credit is good enough to get a 6k or so loan to buy my bike...
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Old Aug 28, 2007 | 06:22 PM
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I know quite a few people on here pay around $50 a month for full coverage

Being married will help you get a cheaper rate.
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