Insurance companies love some of you guys. You're making them rich. Insurance is a game you can't win. And for every dollar you put into it, you get $0.50 of value back. Serously. Have you guys ever done any research to look into how much of your premium $ goes back out to paying claims? It's eye opening. I always insure for the bare legal minimum which is usually just liability.
2 million liability
Your premium is a waste of money. If a private citizen causes a million dollars worth of damage and is successfully sued, the first thing the private citizen does is claim bankruptcy. Nobody gets any money. The only reason someone would need to insure for 2 million liability is if you happen to have that much cash in your bank account to protect. I don't go for the "WHAT IF???!!!" fear mongering that drives some people towards irrational insurance coverage.
Let's make a list
#1 make sure you have medical insurance through your job. If you don't, you're either very young and get a deal with with your parents, or in a very sad situation and you should not be riding a motorcycle and instead working on improving your life situation. Medical insurance is the most important thing. Ever.
That's my list. Satisfying that, don't ever
take out a loan for a toy this cheap, (because it will require full coverage) and always insure for the bare minimum legal requirements. Never insure for collision, just comprehensive (if even that) because that's cheap and then you can park it outside anywhere and it's no big deal if anyone steals it.
Insurance is a game you can't win, that you should only be playing when dealing with something financially devastating. Home, maybe car, but definitely medical. My family's medical bills in the last 10 years would have paid for my house twice over. And that's not rare. A $3000 motorcycle? If you can't afford to crash that and throw it out, you have serious problems. So in my humble opinion, just get the lowest legally required insurance you can.
Thanks everyone for listening to me bitch about insurance. It's one of my pet peeves. It's such a scam industry ingrained in our culture to the point where in some cases even the government forces us to have it.