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post #1 of 31 (permalink) Old 06-12-2008, 08:48 AM Thread Starter
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GAP Insurance for bikes

Geico, my insurance provider, doesn't offer GAP Insurance for bikes ("Guaranteed Asset Protection"). Does anyone know who does? Thanks.
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post #2 of 31 (permalink) Old 06-12-2008, 08:49 AM
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You try the lender that you hvae a loan with?

go time traveler style and go back in time, fuck his grandma, then shoot forward in time and then fuck his mom. Then return back to present state and call him a the product of two incest whores and hes your son and show video of you plowing the both members of his family. .
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post #3 of 31 (permalink) Old 06-12-2008, 08:56 AM Thread Starter
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Originally Posted by C2M View Post
You try the lender that you hvae a loan with?
I own the title.
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post #4 of 31 (permalink) Old 06-12-2008, 09:03 AM
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OK....I can't help myself here. If there is anything to learn from the current economic conditions and lending stupidity out ther right now it's right here in this thread.

GET SOME BRAINS PEOPLE!!!!!!

If you need gap insurance you shouldn't be buying it!!!

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post #5 of 31 (permalink) Old 06-12-2008, 09:08 AM
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Quote:
Originally Posted by mototonic View Post
I own the title.
Im not sure then why you need gap insurance then if you dont have a loan

go time traveler style and go back in time, fuck his grandma, then shoot forward in time and then fuck his mom. Then return back to present state and call him a the product of two incest whores and hes your son and show video of you plowing the both members of his family. .
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post #6 of 31 (permalink) Old 06-12-2008, 09:09 AM Thread Starter
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Originally Posted by Crazy View Post
OK....I can't help myself here. If there is anything to learn from the current economic conditions and lending stupidity out ther right now it's right here in this thread.

GET SOME BRAINS PEOPLE!!!!!!

If you need gap insurance you shouldn't be buying it!!!
Yeah, that's exactly the constructive advice I was looking for! Hooray for your opinion!
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post #7 of 31 (permalink) Old 06-12-2008, 09:11 AM
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Quote:
Originally Posted by C2M View Post
Im not sure then why you need gap insurance then if you dont have a loan
+1

Thought GAP insurance was for loans.
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post #8 of 31 (permalink) Old 06-12-2008, 09:11 AM
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I own the title.


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post #9 of 31 (permalink) Old 06-12-2008, 09:12 AM
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Quote:
Originally Posted by Crazy View Post

If you need gap insurance you shouldn't be buying it!!!
I don't get it... doesn't GAP insurance just cover you for your purchase cost of the bike if you wreck it in the first year? Depreciation off the showroom floor is huge I don't know why getting this doesn't make sense.

-Wally
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post #10 of 31 (permalink) Old 06-12-2008, 09:13 AM
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Originally Posted by nureyedr View Post
I don't get it... doesn't GAP insurance just cover you for your purchase cost of the bike if you wreck it in the first year? Depreciation off the showroom floor is huge I don't know why getting this doesn't make sense.
This is why it makes sense

Quote:
Originally Posted by mototonic View Post
I own the title.
He doesnt have a loan so no need for one.

go time traveler style and go back in time, fuck his grandma, then shoot forward in time and then fuck his mom. Then return back to present state and call him a the product of two incest whores and hes your son and show video of you plowing the both members of his family. .
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post #11 of 31 (permalink) Old 06-12-2008, 09:14 AM
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From Wikipedia...
________________________________
Guaranteed asset protection insurance (or GAP Insurance) is an insurance coverage offered as a supplement to automobile insurance policies. It provides financial protection from certain types of loss that are not covered by standard automobile insurance.

GAP is designed to cover the unpaid balance of an automobile loan in the event of a total loss of the vehicle. GAP covers the difference between the depreciated actual cash value of a lost vehicle and the outstanding loan balance on the vehicle. The coverage may also include payment of the physical damage deductible.
________________________________


Since there is no loan there is no need for gap insurance.

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post #12 of 31 (permalink) Old 06-12-2008, 09:15 AM
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Is there an echo in this thread

go time traveler style and go back in time, fuck his grandma, then shoot forward in time and then fuck his mom. Then return back to present state and call him a the product of two incest whores and hes your son and show video of you plowing the both members of his family. .
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post #13 of 31 (permalink) Old 06-12-2008, 09:20 AM
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Quote:
Originally Posted by nureyedr View Post
I don't get it... doesn't GAP insurance just cover you for your purchase cost of the bike if you wreck it in the first year? Depreciation off the showroom floor is huge I don't know why getting this doesn't make sense.
you just make a big enough down payment

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post #14 of 31 (permalink) Old 06-12-2008, 09:28 AM
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GAP insurance is the biggest waste of your money and a big money maker for the dealership. I worked at CCC and they always had the finance guy setup/ask/push people to get GAP insurance. Auto dealers will do this too.

IMO a big waste of your money.

--

Basically it covers the the difference (GAP) of what you owed and how much the bike is worth. It's kind of like supplemental life insurance from Aflack.
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post #15 of 31 (permalink) Old 06-12-2008, 09:33 AM Thread Starter
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I'd explain more, but instead of getting an answer to my original question, I'd just get a whole lot of preaching and browbeating. No offense to anyone looking to add something of value here, but I guess I shouldn't have started this thread.
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post #16 of 31 (permalink) Old 06-12-2008, 09:36 AM
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Quote:
Originally Posted by mototonic View Post
I'd explain more, but instead of getting an answer to my original question, I'd just get a whole lot of preaching and browbeating. No offense to anyone looking to add something of value here, but I guess I shouldn't have started this thread.
To answer directly...

Lenders and companies that work with lenders are the ones who offer GAP Insurance. Generally this is something you sign up for when you take the loan on a car, boat, or motorcycle out.
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post #17 of 31 (permalink) Old 06-12-2008, 09:43 AM
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Quote:
Originally Posted by C2M View Post
This is why it makes sense



He doesnt have a loan so no need for one.
Quote:
Originally Posted by JoJo View Post
From Wikipedia...
________________________________
Guaranteed asset protection insurance (or GAP Insurance) is an insurance coverage offered as a supplement to automobile insurance policies. It provides financial protection from certain types of loss that are not covered by standard automobile insurance.

GAP is designed to cover the unpaid balance of an automobile loan in the event of a total loss of the vehicle. GAP covers the difference between the depreciated actual cash value of a lost vehicle and the outstanding loan balance on the vehicle. The coverage may also include payment of the physical damage deductible.
________________________________


Since there is no loan there is no need for gap insurance.
Ah good stuff, I had a loan on my bike so I got it. Always good to learn more about this.

So if you pay your car/bike in full when u buy it, and you wreck it, your SOL on the "parking lot" depreciation?

-Wally
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post #18 of 31 (permalink) Old 06-12-2008, 09:50 AM
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Quote:
Originally Posted by mototonic View Post
I'd explain more, but instead of getting an answer to my original question, I'd just get a whole lot of preaching and browbeating. No offense to anyone looking to add something of value here, but I guess I shouldn't have started this thread.
We're trying to help. It doesn't make sense to insure something for more than it's worth. An insurance company isn't going to do that unless there is a reason for it (like owing more than it's worth).

So to answer your original question I think the only big carrier that offers it is progressive. I know State Farm and Allstate doesn't.

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post #19 of 31 (permalink) Old 06-12-2008, 09:51 AM
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Quote:
Originally Posted by nureyedr View Post
Ah good stuff, I had a loan on my bike so I got it. Always good to learn more about this.

So if you pay your car/bike in full when u buy it, and you wreck it, your SOL on the "parking lot" depreciation?
Yes you're only going to get what it's worth.

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post #20 of 31 (permalink) Old 06-12-2008, 09:51 AM
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Quote:
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instead of getting an answer to my original question, I'd just get a whole lot of preaching and browbeating.
wow you really must be new here because it sounds as if that was a surprise

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post #21 of 31 (permalink) Old 06-12-2008, 10:47 AM
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Quote:
Originally Posted by nureyedr View Post

So if you pay your car/bike in full when u buy it, and you wreck it, your SOL on the "parking lot" depreciation?
That is the case with anything like a car, bike, boat, etc whether you pay it in full or have a loan on it. I used to have a bank "black book" which is like a Kelly Blue Book but specific for banks that showed values of cars and books.
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post #22 of 31 (permalink) Old 06-12-2008, 11:00 AM
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Quote:
Originally Posted by mototonic View Post
I'd explain more, but instead of getting an answer to my original question, I'd just get a whole lot of preaching and browbeating. No offense to anyone looking to add something of value here, but I guess I shouldn't have started this thread.
You got your answer. Your lender provides it to you.

Quote:
Originally Posted by C2M View Post
You try the lender that you have a loan with?
Then you stated you have the title. Ok then you cant get gab insurance since you dont have a loan.

At what part did you get lost.

go time traveler style and go back in time, fuck his grandma, then shoot forward in time and then fuck his mom. Then return back to present state and call him a the product of two incest whores and hes your son and show video of you plowing the both members of his family. .
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post #23 of 31 (permalink) Old 06-12-2008, 05:23 PM
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I'm sure a few ins companies are willing to write coverage. Since your scenario isn't typical, tradition risk management and competitive rates may not apply.

Personally I like rolling the dice and self insuring, but that's just me.

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post #24 of 31 (permalink) Old 06-14-2008, 08:15 AM Thread Starter
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reading and comprehension

So to answer your original question I think the only big carrier that offers it is progressive. I know State Farm and Allstate doesn't.[/QUOTE]

There, that's all I wanted. Thank you.
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post #25 of 31 (permalink) Old 06-14-2008, 08:31 AM
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Quote:
Originally Posted by Nexus View Post
GAP insurance is the biggest waste of your money and a big money maker for the dealership. I worked at CCC and they always had the finance guy setup/ask/push people to get GAP insurance. Auto dealers will do this too.

IMO a big waste of your money.

--

Basically it covers the the difference (GAP) of what you owed and how much the bike is worth. It's kind of like supplemental life insurance from Aflack.

I can easly say that for $250 (GAP) is one of the best products that you can by for your car IF your upside down on you loan. (which a lot of people are)

I have been in lending for a little bit now and done plenty of loans. I see it all the time where people want a car so bad it seems like they'll do anything for it. Plus, it covers you insurance deductible up to $1000.00. That right there is great because most people have a $500.oo deductible. (still paying for it self)

On the main question of finding one for a bike.. Well, let me know when you do
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post #26 of 31 (permalink) Old 06-14-2008, 08:45 AM
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Quote:
Originally Posted by mototonic View Post
So to answer your original question I think the only big carrier that offers it is progressive. I know State Farm and Allstate doesn't.
There, that's all I wanted. Thank you.[/QUOTE]

And yes state farm does offer it if you have a loan with them.

I have to ask Why are you asking about this gap insurance for something you own? this whole thread makes no since IMO

go time traveler style and go back in time, fuck his grandma, then shoot forward in time and then fuck his mom. Then return back to present state and call him a the product of two incest whores and hes your son and show video of you plowing the both members of his family. .
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post #27 of 31 (permalink) Old 06-14-2008, 09:13 AM
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You might be looking for replacment coverage offered by some insurance co's. This guarantees that you will be able to replace your vehicle for the current market rate.
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post #28 of 31 (permalink) Old 06-14-2008, 09:27 AM
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Doesn't AllState advertise that thing where they will give you the money for a brand new car if you wreck yours within the first 2 years? Is that what you are looking for?

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In motorcycle terms, that's like taking your Ducati to a dealer for service, and they hand you back a 1979 backfiring Honda 400 Hawk.. because after all, a bike is a bike.
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post #29 of 31 (permalink) Old 06-14-2008, 09:47 AM
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Quote:
Originally Posted by C2M View Post
And yes state farm does offer it if you have a loan with them.

State Farm does vehicle loans? I didn't know that

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post #30 of 31 (permalink) Old 06-14-2008, 09:49 AM
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Quote:
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State Farm does vehicle loans? I didn't know that
Yes sir and believe it or not Are lower then most banks and credit unions

go time traveler style and go back in time, fuck his grandma, then shoot forward in time and then fuck his mom. Then return back to present state and call him a the product of two incest whores and hes your son and show video of you plowing the both members of his family. .
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