Modern Vespa

I bought a LXV and im trying to insure it in california. I am financing it through vespa with the GE Card. Do i need comprehensive and collision since im financing or can i just buy liability without comp and collision coverage?

It's really up to you whichever you'll be content with. I have my insurance through 21st Century at a relatively great price (I must stress the word "relatively" because there are a number of factors that make one insurance better for some people, and not for others).

-If someone injures me and/or damages my Vespa and it's their fault, their insurance will cover it. If they're not insurance, I have "Uninsured Motorist" coverage, so I'm covered.

-If I cause damage to someone and/or their vehicle, I'm covered through Collision.

-If my Vespa gets vandalized or stolen, I'm covered through Comprehensive.

-If I ever get my hands on punks that vandalize my Vespa... I'll send Rover Eric to beat the crap out of them

Most insurance companies will want you to have both, Comp. and Coll. if you're financing. Check with your ins. co.

so is it required for me to have full insurance or can i just have liability?

I tried to buy a wrecked 250 from a kid who it turned out financed it through GE Money and had no insurance. Of course he couldn't find the title to close the deal because GE was holding it although they didn't require insurance. Now he's in a bad spot- no scooter and a ticking time bomb of a loan. If he doesn't pay it off in two years ?? or something it becomes a 20 something percent credit card debt. The $69 / month payment barely covers the interest even at 9.9%. Moral : if you can't pay cash for the scooter get comp/collision insurance. These scooters don't seem to do well in a crash either.

That will be up to your ins. co. California requires liability. Some ins. co. will require both IF you have it financed. You'll have to check with them.

thanks rex, im trying to get liability for my scooter from geico...116 bucks a year, wow...im tempted to get it.

That's a fair price, a little on the pricey side. I've heard of people paying only about $80 per year on liability though (and again I have to stress the number of factors such as Age, Value of the bike, Driving record, Zip Code, etc) that lead to varying quotes). With just liability, if your Vespa gets stolen (knock on wood), you're out of luck. If you caused an accident and your Vespa is damaged (knock on wood), you're out of luck.

If it's financed you'll need BOTH comp and coll. You'll agree to this contractually in signing the loan papers. If you don't provide it you have authorized them to get it for you and stick the premium (usually outrageous) onto your loan balance.

Even if you waited, saved and paid cash you'd still do well to have these coverages (if bike is stolen, in accident, etc you'd beout a whole lotta cash).

I'll echo - even if you pay cash for the scoot, get comp and collision insurance on top of liability. The extra $100-$200 bucks a year is money very well spent should the big wide world get unruly on you.

I think that GE offers revolving credit financing on the Vespas and therefore do not require you to insure it. Liability is required by California law, but I believe the comp & collision is up to you.

I only pay about $80 a year for full coverage on a 2007 250GTS, and that includes 100,000/300,000/50,000 liability Through foremost. Shop around. I found this company through an insurance broker

If the finance company is holding the title, they will insist on full coverage. If they require it, they will be sure you have it before you get the loan.

VTRII, are you in California? I just got the below insurance from Geico when I bought the scooter last month, and mine is $507 for the year (paid all at once--there's an extra fee for paying monthly).

Bodily Injury Liability(BI) 100/300 $105.00
Property Damage Liability(PD) 50M $25.00
Medical Payments(MED) REJ $.00
Uninsured & Underinsured Motorist(UM&UIM) 100/300 $166.00
Comprehensive(COMP) 500 $222.00
Uninsured Motorist Property Damage(UMPD) REJ $.00
Collision(COLL) 500/W $150.00
Towing(TOW) REJ $.00

I have 2 Harley Davidsons and 2 Vespas insured with Foremost. 2002 ElectraGlide $295 2004 Sportster 1200 Roadster $195 and 2 Vespa GTS 250s $80 each per year. That includes towing. Yes I am in California.

Hmmm ...

We have 2 scoots (and 2 cars) through Geico. Scoots are full, maxed out (liability, collision, uninsured) for $250/year for both scoots together - LX150 and GT200. Pretty good deal.