Great News! I bought another motorcycle!

[chopper]

   

[special]

Looks great. Model? Specs? Vintage? Mileage?

How many do you have now?

[chopper]

Looks great. Model? Specs? Vintage? Mileage?

How many do you have now?

It's an MV Agusta Brutale. Bought it as a mechanic's special. I had it fixed in about an hour and just took it for a test ride. It still has a little exhaust leak that needs attention.

How many? I'm not sure. Probably 23-25?

[special]

Do you need to buy insurance (and registration) foe each of them? I assume registration is a must, but maybe there is a general insurance umbrella policy for car and motorcycle collectors like you. Or you get some massive discount when you own a bunch?

[chopper]

Do you need to buy insurance (and registration) foe each of them? I assume registration is a must, but maybe there is a general insurance umbrella policy for car and motorcycle collectors like you. Or you get some massive discount when you own a bunch?

I pick 2-3-4 that I ride every month and are insured with full coverage; I swap them out. The rest are insured for loss or not insured at all depending on value. 

I'm no longer a young man; the only upside to getting older is cheap insurance.

[special]

huh? insurance gets cheaper as you get older???

I would imagine insurance is expensive when you are young (no experience, some teenagers / young adults are also less careful) and when you get older (slower reflexes, poor vision, etc). But maybe I am wrong.

[chopper]

huh? insurance gets cheaper as you get older???

I would imagine insurance is expensive when you are young (no experience, some teenagers / young adults are also less careful) and when you get older (slower reflexes, poor vision, etc). But maybe I am wrong.

So you have never purchased vehicle insurance?

[chopper]

huh? insurance gets cheaper as you get older???

I would imagine insurance is expensive when you are young (no experience, some teenagers / young adults are also less careful) and when you get older (slower reflexes, poor vision, etc). But maybe I am wrong.

Did you ever own a car?

[chopper]

Vibrant!

[Diana]

huh? insurance gets cheaper as you get older???

I would imagine insurance is expensive when you are young (no experience, some teenagers / young adults are also less careful) and when you get older (slower reflexes, poor vision, etc). But maybe I am wrong.

Disclaimer: I am not an insurance agent or adjuster, just a consumer. 

Insurance is not based on age. It is based on statistics of insurable items or events, and thus potential losses due to negative outcomes. Statistics, probability, and risk. Certain age groups may correlate with higher risk (think teenagers and subpar driving performance such as speeding, DUI, etc.) and thus the company will charge more to cover the risk, since they have a higher incidence of having to pay out. People often conflate the two (age, and risk) since they are correlated, but they are not causative. Plenty of young adults are responsible drivers; plenty of old people are also careful drivers. There are enough, however, to raise the risk on a population level to affect everyone in the population. 

I have a property that has never had a claim on it in all the time I have held it, about 17 years now. Recently insurance dropped coverage because I live in a riskier location—central Oklahoma where we have had quite a few smaller tornadic events, but enough to increase losses in this area. There may be some other companies who may cover it, but it’s going to be expensive. We are not yet in the uninsurable situation yet.