I am buying a Kawasaki ninja650r brand new first bike for about $ 6000 should I get gap insurance? and what does it really do for me?
Yes, because you will most likely drop your first bike and do some major damage to it. That is why most folks say buy a used bike at first......
I would say yes. We just bought a new automobile in May and we got the gap. You may have full coverage on your bike but with some insurance company that does not mean they will pay off your whole loan. So if your bike is worth six thousand and they pay four thousand, then you would have to pay the other two thousand. But if you have the GAP insurance that will cover what the insurance company will not.
Are you financing the bike or no?? Only if you are financing the bike will the gap insurance need to be purchased. Gap insurance pays the difference between what the motorcycle insurance company pays and what the payoff of your loan is ...if you were to total your bike. With any vehicle loan, you usually owe more than your vehicle is worth for the first three years, unless you put alot of money down on your loan.
|
