[TheReaper]

CVT Insurance , how much would it cost ?

Lets say an insurance / warranty company decided to offer CVT insurance for a 650 Burgman . Now lets also say that you have to buy it while your original warranty is still in place , and your coverage was for 100,000 miles . Also belts as many as broke would be covered , and coverage would be transferable from owner to owner up to 100,000 miles .

Four questions .

You would never buy one because you consider extended warranties a waste of money ?

How much do you think they would charge for such a policy ?

How much would you be willing to pay for this coverage ?

If you were the insurance company what would you charge ?

TheReaper!

 

[jimfrompa]

You would never buy one because you consider extended warranties a waste of money ? This depends on the miles I intend to ride per year. If I were a person who rode only 1,000 miles per year, no extended warranty needed. If I rode 5,000 miles per year, I would consider it.

How much do you think they would charge for such a policy ?
About $300 USD per year.
How much would you be willing to pay for this coverage ?
$200 per year
If you were the insurance company what would you charge ?
Probably $450 per year.

I just bought a 2006 with 22,000 miles on the clock. I ride about 4,000 miles per year. I am putting $45 per month in my "Burgman repairs" fund expecting that I'll need to have that repair done by 50,000 on the clock. That will take me 7 - 8 years to reach 50,000 - by then I'll have about $3600. If I need to make the repair I'll have the money to do it. If I don't need to make the repair, I'll have the money to put down on a new scoot or keep it for future CVT repair. In other words, I'll insure myself.

 

[Buffalo]

I won't buy one not only because I don't think they are a good value for the money but because I do my own work on my bikes.

I much prefer Jimfrompa's method of just putting the money I would spend on an extended warranty in an account so that I would have it if I needed it and still have it if I didn't.

How much would they charge, more than I would be willing to pay.

 

[29534]

I don't think there would be enough takers to spread the risk adequately. That's why flood insurance is a government program because only the people with high exposure buys it. The great majority of riders don't ride enough miles to ever have a problem. Most of the bikes I see with enough miles on them to make this insurance worthwhile are BMWs and Goldwings. I rode my 650 over 8,000 miles in the last year and between 2,000 and 3,000 miles on my other bikes but I'm the exception.

 

[westnash]

I think some Suzuki dealers now offer a full service program which includes all maintenance so would probably cover any repairs as well. You might check with any in your area about this and see what the charge is.

 

[NormanB]

I have an acerbic view of insurance.
Insurance Companies have two distinct faces.

1. A smiley face as they accept your premium.
2. A fixed and determined grimace as they dive into the terms and condition as they attempt to refute your claim.

Legalised skulduggery.

 

[Flywheel]

I think if Stanley Kubrick were still alive, he might consider directing:

Dr. Le Dude

OR

How I learned to stop worrying and love the SECVT.

 

[TheReaper]

I think if Stanley Kubrick were still alive, he might consider directing:

Dr. Le Dude

OR

How I learned to stop worrying and love the SECVT.

Not to worry , it's just conversation dude . TheReaper!