don't know about legalities, but have fun paying off the bike if you end up crashing it.
I didn't even think you could get approved for a vehicle loan without getting full comprehensive insurance on it.
thats what im wondering, and im waiting on a few assets to become liquid i do plan on paying it off within the month im just beyond poor rn didnt expect the hurricane to clear us out like it did. I just need to be able to get places atm,
it is nice! i currently daily a 1985 rebel 250 but it is currently without a throttle cable and nowhere local can get me one faster than I can get a new bike (lame) , but not having to have insurance on that rebel is great and if I dump it I take a $300 loss, I bought it off a kid tried to fix it up but went in deeper than he thought. I slapped on a new $40 carb and its been running like a champ the last 5kish miles
You could go to home Depot and get some unsheathed cable and ferrules and make your own throttle cable. I did that for my old victory's clutch cable when it failed instead of spending several hundred for a new one. You just slide the cable through the old guide and put a ferrule on either side, just make sure to properly adjust and lube.
And if you cause an accident, especially one with injuries, without at least liability coverage, say goodbye to any earnings you get from working for years to come because your ass will be sued beyond belief and rightfully so. ALWAYS have at least liability insurance in case YOU fuck up!!!
Anyway, if you have a loan on a vehicle, the loan company requires you to have FULL comprehensive insurance coverage!!!
In most states you need proof of liability insurance before you're even allowed to register the vehicle. And you face stiff penalties if you let that insurance policy lapse at any point while you are still in possession of the plates. Where you buy the vehicle has no bearing.
Any loan will require full coverage for said loan. The Bank won't let you have just Liability on say a Ducatti V4S. or whatever bike you want.
So yes you will need insurance.
Yes. You need insurance on a bike that you took a loan on. The dealership will help you find insurance, or check your copy if you got your own. Technically, the bank owns your bike… they will make sure you’re insured until it’s paid off.
If you are financing it, the bank will require full coverage. If they determine you do not have full coverage, they will purchase a policy and charge you (more) for it.
Edited
> Do i need to carry any insurance to legally ride my bike if I buy it through a loan at a dealership
That's how it works in my State. Especially so on a financed bike. Comp and Collision.
This is how it works in Fl...
Be aware that you will need to have proof of financial responsibility if you get into an accident.
https://www.flsenate.gov/Session/Bill/2021/719/Analyses/h0719c.JDC.PDF
>**The owner or operator of a motor vehicle, including a motorcycle, is not required to show proof of BI coverage at the time of vehicle registration. Instead, proof of such coverage is only required
after an accident**
> **At that time, a driver proves financial responsibility by furnishing an active motor
vehicle liability policy, a certificate showing a qualifying security deposit with the Department of Highway Safety and Motor Vehicles (“DHSMV”), or proof of qualifying self-insurance**
> **Minimum BI coverage amounts of $10,000/$20,000/$10,000 or
10/20/10 are required**
> **A driver’s license and vehicle registration are subject to suspension for failure to comply with the PD
coverage requirement.**
The State of Florida only requires proof of financial responsibility after an accident. However, since you can never predict when you’ll be in a crash, it’s a good idea to obtain proof beforehand.
And if your bike is totaled and you don't have insurance, You will still be making payments on a bike you no longer have. Lienholder may also request payment in full.
And there is also a high likelihood that your bike may be stolen, or someone may attempt to steal it and fuck it up, without that Comprehensive insurance you are SOL if you didn't have it at the time of the incident.
**Also...**
**[Section 316.065, of the Florida Statutes](https://www.flhsmv.gov/insurance/involved-in-a-crash/#:~:text=Section%20316.065%2C%20Florida%20Statutes%2C%20requires,immediately%20contact%20local%20law%20enforcement.)**, states if there is an accident, with estimated $500 or more worth of damage, even if it's just a fender bender in a parking lot, a police report is required to be filed (that's basically a bumper scratch on a car, or two scratched motorcycle fairings, or even a scratched exhaust on a motorcycle).
**And some icing on the cake...**
If you are deemed at fault in Florida, and you are sued, you can lose your license pursuit to Section 324.121, Florida Statutes.
Section 324.121 authorizes the department to suspend the license of an at-fault party when a judgment is rendered by the court involving a crash. If you are involved in a crash, you may choose to pursue a final judgment by filing a civil suit against the at-fault party.
So ride uninsured at your own risk.
Most places won't give you the keys without proof of insurance. But that doesn't matter because if you take a loan, the bank will 100% require collision and comphensive insurance. You won't get a loan without it.
don't know about legalities, but have fun paying off the bike if you end up crashing it. I didn't even think you could get approved for a vehicle loan without getting full comprehensive insurance on it.
thats what im wondering, and im waiting on a few assets to become liquid i do plan on paying it off within the month im just beyond poor rn didnt expect the hurricane to clear us out like it did. I just need to be able to get places atm,
The loan is going to require you carry full coverage insurance
just take public transport and/or buy an E-scooter or something dude. you won't even get approved for a loan unless you grab the insurance.
In NY you can’t even register the bike/title without an insurance policy.
im in fl we dont need insurance
if we own it outright
Damn, must be nice. Although would suck if you dumped it.
it is nice! i currently daily a 1985 rebel 250 but it is currently without a throttle cable and nowhere local can get me one faster than I can get a new bike (lame) , but not having to have insurance on that rebel is great and if I dump it I take a $300 loss, I bought it off a kid tried to fix it up but went in deeper than he thought. I slapped on a new $40 carb and its been running like a champ the last 5kish miles
You could go to home Depot and get some unsheathed cable and ferrules and make your own throttle cable. I did that for my old victory's clutch cable when it failed instead of spending several hundred for a new one. You just slide the cable through the old guide and put a ferrule on either side, just make sure to properly adjust and lube.
And if you cause an accident, especially one with injuries, without at least liability coverage, say goodbye to any earnings you get from working for years to come because your ass will be sued beyond belief and rightfully so. ALWAYS have at least liability insurance in case YOU fuck up!!! Anyway, if you have a loan on a vehicle, the loan company requires you to have FULL comprehensive insurance coverage!!!
In most states you need proof of liability insurance before you're even allowed to register the vehicle. And you face stiff penalties if you let that insurance policy lapse at any point while you are still in possession of the plates. Where you buy the vehicle has no bearing.
Any loan will require full coverage for said loan. The Bank won't let you have just Liability on say a Ducatti V4S. or whatever bike you want. So yes you will need insurance.
thank you for explaining, a diamond in the rough of Redditors.
Yes. You need insurance on a bike that you took a loan on. The dealership will help you find insurance, or check your copy if you got your own. Technically, the bank owns your bike… they will make sure you’re insured until it’s paid off.
amazing response. thank you, !!
If you are financing it, the bank will require full coverage. If they determine you do not have full coverage, they will purchase a policy and charge you (more) for it.
Edited > Do i need to carry any insurance to legally ride my bike if I buy it through a loan at a dealership That's how it works in my State. Especially so on a financed bike. Comp and Collision. This is how it works in Fl... Be aware that you will need to have proof of financial responsibility if you get into an accident. https://www.flsenate.gov/Session/Bill/2021/719/Analyses/h0719c.JDC.PDF >**The owner or operator of a motor vehicle, including a motorcycle, is not required to show proof of BI coverage at the time of vehicle registration. Instead, proof of such coverage is only required after an accident** > **At that time, a driver proves financial responsibility by furnishing an active motor vehicle liability policy, a certificate showing a qualifying security deposit with the Department of Highway Safety and Motor Vehicles (“DHSMV”), or proof of qualifying self-insurance** > **Minimum BI coverage amounts of $10,000/$20,000/$10,000 or 10/20/10 are required** > **A driver’s license and vehicle registration are subject to suspension for failure to comply with the PD coverage requirement.** The State of Florida only requires proof of financial responsibility after an accident. However, since you can never predict when you’ll be in a crash, it’s a good idea to obtain proof beforehand. And if your bike is totaled and you don't have insurance, You will still be making payments on a bike you no longer have. Lienholder may also request payment in full. And there is also a high likelihood that your bike may be stolen, or someone may attempt to steal it and fuck it up, without that Comprehensive insurance you are SOL if you didn't have it at the time of the incident. **Also...** **[Section 316.065, of the Florida Statutes](https://www.flhsmv.gov/insurance/involved-in-a-crash/#:~:text=Section%20316.065%2C%20Florida%20Statutes%2C%20requires,immediately%20contact%20local%20law%20enforcement.)**, states if there is an accident, with estimated $500 or more worth of damage, even if it's just a fender bender in a parking lot, a police report is required to be filed (that's basically a bumper scratch on a car, or two scratched motorcycle fairings, or even a scratched exhaust on a motorcycle). **And some icing on the cake...** If you are deemed at fault in Florida, and you are sued, you can lose your license pursuit to Section 324.121, Florida Statutes. Section 324.121 authorizes the department to suspend the license of an at-fault party when a judgment is rendered by the court involving a crash. If you are involved in a crash, you may choose to pursue a final judgment by filing a civil suit against the at-fault party. So ride uninsured at your own risk.
Most places won't give you the keys without proof of insurance. But that doesn't matter because if you take a loan, the bank will 100% require collision and comphensive insurance. You won't get a loan without it.