Need advise on renting out my motorcycle to other people

[DRKATO1]

This is an idea I am working on and would like all the feedback I can get to make this happen.
I have an 2004 RC51 that I might rent out and have spent $1.00 on a godaddy web sight, so check it out and let me know what you think.

rentrc51.com

mods fill free to move this post, I didn't know where to put it.

[bulldog]

This is an idea I am working on and would like all the feedback I can get to make this happen.
I have an 2004 RC51 that I might rent out and have spent $1.00 on a godaddy web sight, so check it out and let me know what you think.

rentrc51.com

mods fill free to move this post, I didn't know where to put it. So what happens if they wreck your bike? That would be my main concern!

[JKOL]

So what happens if they wreck your bike? That would be my main concern!

That or what if there is a mechanical failure that causes the wreck? What would your liability be? Just a big hit to your insurance, or are you personally exposed to a lawsuit? I don't see enough upside to make this worth while, but I can see a whole bunch of ways to get bent over financially.

[bulldog]

That or what if there is a mechanical failure that causes the wreck? What would your liability be? Just a big hit to your insurance, or are you personally exposed to a lawsuit? I don't see enough upside to make this worth while, but I can see a whole bunch of ways to get bent over financially.
Right! I believe this is why 303 Cycles stopped renting out motorcycles....just too much risk!!!

Not to mention I wouldn't trust people beating on my sportbike....very common to beat up on rentals :?

[DRKATO1]

So what happens if they wreck your bike? That would be my main concern!

I would have a simple contract making you responsible for damages and I would require a large credit card deposit that is refundable when you bring it back undamaged.

[JKOL]

I would have a simple contract making you responsible for damages and I would require a large credit card deposit that is refundable when you bring it back undamaged.

But what if those damages are the result of an accident caused by a mechanical failure, not rider error? That puts the responsibility for the accident on you, not the renter. Bike maintenance is on you, not the renter. I don't think a simple contract would save you from a lawsuit if someone got hurt in a crash because something on the bike broke.

[DRKATO1]

But what if those damages are the result of an accident caused by a mechanical failure, not rider error? That puts the responsibility for the accident on you, not the renter. Bike maintenance is on you, not the renter. I don't think a simple contract would save you from a lawsuit if someone got hurt in a crash because something on the bike broke.

I've been a master auto mechanic for over 30 years and I keep my maintenance up to date and can do inspections when the bike is returned.
Yes there is lots of risk involved, thanks for the feed back.

[bulldog]

I would have a simple contract making you responsible for damages and I would require a large credit card deposit that is refundable when you bring it back undamaged. So you are going to run their card for like a $10K deposit???? My bet is not many people even have that high a limit :dunno: Plus I you are basing it all on insurance I am not sure motorcycle policies work like auto policies and cover people not on the policy; or vise versa, their auto policy would not cover a motorcycle. I could be wrong, but thought that was how most of them work. Something to think about....

Not to mention what Jkol said.....I could see some person crashing and blaming your maintenance neglect or faulty equipment. Doesn't seem worth it to me.....

[tecknojoe]

What if they wreck, get hurt, hurt someone, steal it? What is your insurance company going to tell you, especially if you say you rented the bike? would you still be covered? Is it possible to fake a credit card deposit, or use a stolen one?

Personally I couldn't do anything more than swapping bikes for 5 minutes while out on a ride with a friend.

I really don't see this idea working out well with all the liabilities

also, no matter how good of a mechanic you are, parts fail. You can't control it 100% of the time

[asp_125]

I'm pretty sure most personal vehicle insurance policies would be voided, or require you to convert it to commercial use, if they knew you are using it for income. On top of that you have a HUGE liability as mentioned on maintenance. Which is why most folks don't rent out sportbikes, the insurance cost kills profits.

[DRKATO1]

I'm thinking about a 2k deposit.
Some insurance companies like Progressive cover you for renting a car and a motorcycle if you would like to rent a bike instead. dairyland does the same thing, you have to check with your agent.

[asp_125]

I'm thinking about a 2k deposit.
Some insurance companies like Progressive cover you for renting a car and a motorcycle if you would like to rent a bike instead. dairyland does the same thing, you have to check with your agent.

My bike insurance covers me when I rent bikes, but if I am renting a bike from you and I crash because of a mechanical fault it's not on my policy, it's on yours. I would be going after your carrier for a defective motorcycle; the cost of liability insurance on your part would be expensive, it's why 303 got out of the business.

[Generic]

You need to have a very specific business insurance policy to cover that bike. The minute you let someone ride off on it for money it is no longer for your own use and your basic policy won't cover it. You will need to have the liability coverage in case of mechanical failure as others mentioned. I highly, highly suggest getting a lawyer to draw up the documents and register you as a LLC so that if something does happen someone doesn't sue you for ALL of your possessions.

[madvlad]

I'll rent it and won't sue ya, problem solved :lol:

[DRKATO1]

What if I make this a non profit thing with all money going to my 14 year old back surgury to fix her broken bone in her back.

[bulldog]

I'll rent it and won't sue ya, problem solved :lol: Yeah but do you have the cash on hand to fix the bike if you were to crash it? Not getting sued is one thing, but actually getting people to pay up is another (not saying you, just in general if someone wrecks their medical bills are going to come before they worry about paying for the bike).

[madvlad]

What if I make this a non profit thing with all money going to my 14 year old back surgury to fix her broken bone in he back.

or we can put a bike night/fundraiser thing together as well and I am in for this idea to help out

[DRKATO1]

I'll rent it and won't sue ya, problem solved :lol:

when do you want it.

[bulldog]

What if I make this a non profit thing with all money going to my 14 year old back surgury to fix her broken bone in her back. Why not just sell the bike then? Wouldn't that be faster :dunno:

[DRKATO1]

You need to have a very specific business insurance policy to cover that bike. The minute you let someone ride off on it for money it is no longer for your own use and your basic policy won't cover it. You will need to have the liability coverage in case of mechanical failure as others mentioned. I highly, highly suggest getting a lawyer to draw up the documents and register you as a LLC so that if something does happen someone doesn't sue you for ALL of your possessions.

this is this great advise and as a skydiver i sign a waver not to sue if something goes wrong but even then if there is neglect on there part the dropzone can still be sued.

[DRKATO1]

Why not just sell the bike then? Wouldn't that be faster :dunno:
yes it is one of the things i am considering but it's not enough money to cover everything.

[DRKATO1]

or we can put a bike night/fundraiser thing together as well and I am in for this idea to help out

If all options run out i might consider this in the future. she got her injury 2 years ago and gets shots in her back every 3 or 4 months to manage the pain. but last years scared the shit out of me when people started dying from the same shots she was getting.
sooner or latter she will need major surgery to put rods and screws in.

[DRKATO1]

This is the bike we are talking about, just thought i would share.

http://i704.photobucket.com/albums/ww50/drkato1/IMAG0162.jpg (http://s704.photobucket.com/user/drkato1/media/IMAG0162.jpg.html)

[DRKATO1]

At this point and time if you are a friend of mine or can get someone like Wicky to tell me you're a responsible person I would consider renting this bike to you, if you can agree to my rules.

[j0ker]

What if I make this a non profit thing with all money going to my 14 year old back surgury to fix her broken bone in her back.
OH NO! I had no idea. Sorry to hear your 14 year old is in so much pain! Did she get the injury from a motorcycle?

Did you ever mention how much you are renting your bike for? When rider friends of mine come into town, I will let them know they have options!

Also, sweet sweet bike!

[Nick_Ninja]

Don't.

[j0ker]

Don't.
Hahaha... that is what I said in my head the first time I read his thread topic!

[One-ops]

How much?!

[DRKATO1]

[QUOTE=j0ker;739759]OH NO! I had no idea. Sorry to hear your 14 year old is in so much pain! Did she get the injury from a motorcycle?

Did you ever mention how much you are renting your bike for? When rider friends of mine come into town, I will let them know they have options!

Also, sweet sweet bike![/QUOTe

She got hurt playing hockey when she got tripped from behind and fell the wrong way. needless to say she doesn't play hockey anymore.

Price is 200.00 a day plus a credit card deposit that is refundable when bike is not damaged. Must have M endorsement

[DRKATO1]

How much?!

$200.00 a day plus must have credit card deposit and M endorsement on DL.

[DRKATO1]

Might be talked into renting this also. but I would have to know you personally.

http://i704.photobucket.com/albums/ww50/drkato1/IMAG0154.jpg (http://s704.photobucket.com/user/drkato1/media/IMAG0154.jpg.html)

[bulldog]

Damn...so you got two bike???? :o

[DRKATO1]

I'm just putting ideas out there and another that maybe possible is if you want to go to lets say High plains raceway maybe you could talk me into it, for a fee, taking both bikes. Me on one and you on the other for a track day adventure. Maybe you could show me some new lines. or I could show you around for a first track day and show you how things work.

Being on the track is so much safer and fun.

[DRKATO1]

Damn...so you got two bike???? :o

Nope keep trying.

[bulldog]

Nope keep trying. :dunno: Ok, so now you are loaning out a bike you don't own. Wow ,this keeps getting better :lol:

[DRKATO1]

:dunno: Ok, so now you are loaning out a bike you don't own. Wow ,this keeps getting better :lol:

LOL ok I do own the bikes I posted in this thread. But that's not all I have. does that explain it better or am I missing something else.

[DRKATO1]

I own this bike too, maybe it's more your style. make offer I rent by the day.

http://i704.photobucket.com/albums/ww50/drkato1/IMAG0169.jpg (http://s704.photobucket.com/user/drkato1/media/IMAG0169.jpg.html)

[bulldog]

LOL ok I do own the bikes I posted in this thread. But that's not all I have. does that explain it better or am I missing something else. Ok since you pushed....

Honestly I was feeling bad about your daughter and thinking this was all for her surgery, but sounds to me like you got a lot of assets you could let go if she needed that surgery. I don't have kids, but it would be a no brainer to me if I had to pick toys or my kid....both bikes would be gone fast! Anyways I am staying out of it, so good luck man......

[DRKATO1]

Been thinking since we have direct flights to Tokyo now maybe I can advertise in Japan for an HPR track day for them. At a Higher rate maybe. I think someone from Japan on a trip would love to rent an RC51 on a track half way around the world.

What do you think Glenn, if you read this.

[DRKATO1]

Ok since you pushed....

Honestly I was feeling bad about your daughter and thinking this was all for her surgery, but sounds to me like you got a lot of assets you could let go if she needed that surgery. I don't have kids, but it would be a no brainer to me if I had to pick toys or my kid....both bikes would be gone fast! Anyways I am staying out of it, so good luck man......

Thanks for your help and if it comes down to it everything will be sold. i'm just putting ideas out there. She will still get shots in her back as long as possible but will need very expensive surgery maybe in 2 years if she doesn't slip and fall or something like that. She will grow alot in the next several years and if we fuse her vertabe now it may not be the best idea.

[DRKATO1]

When i said maybe doing this as a non profit thing may it would limit my liability if something went wrong.
Instead of getting a lawyer and an LLC.

[bulldog]

Thanks for your help and if it comes down to it everything will be sold. i'm just putting ideas out there. She will still get shots in her back as long as possible but will need very expensive surgery maybe in 2 years if she doesn't slip and fall or something like that. She will grow alot in the next several years and if we fuse her vertabe now it may not be the best idea. Fair enough...I wish her the best. As Damir said if it comes down to you selling all your stuff and you can't afford the surgery still, post it up and I bet we could get a fund raiser going; we've done it for others and a 14 year old needing back surgery qualifies for sure :up:

P.S. We call him Saint Damir for a reason :)

[DRKATO1]

Maybe a raffle for bike would be an option. Anybody have experiance with raffles and the rules?

[DRKATO1]

Fair enough...I wish her the best. As Damir said if it comes down to you selling all your stuff and you can't afford the surgery still, post it up and I bet we could get a fund raiser going; we've done it for others and a 14 year old needing back surgery qualifies for sure :up:

P.S. We call him Saint Damir for a reason :)

That's the best Idea I've heard all month. thanks again.

[j0ker]

Maybe a raffle for bike would be an option. Anybody have experiance with raffles and the rules?

Raffles are good ideas. Also, approach H00ters or Twin Peaks about having a benefit for her. Bike/Car was or some such. In my old town those places were always pretty good at helping out with charities like that.

Best of luck from a guy with 5 kids, four of them daughters.

[Rabbie303]

What if I rent the bike and return it and it looks like an SV1000? Would there be a problem with that :)

[DRKATO1]

:pointlaugh:
What if I rent the bike and return it and it looks like an SV1000? Would there be a problem with that :)

It's got more miles than my RC51 has so I would notice. LOL

[DRKATO1]

I've been a member here since 2008 and a lurker 99% of the time. CSC is such a special place and have such generous people, thank you all for your help and advise.

OMG 4 girls would drive me mad.

[Generic]

When i said maybe doing this as a non profit thing may it would limit my liability if something went wrong.
Instead of getting a lawyer and an LLC.

FYI becoming an actual 501(c)3 non-profit is more time consuming and expensive than registering an LLC. It also wouldn't remove the liability or insurance requirements, our non-profit is insured up the wazzo and that's just in case a cat or dog scratches someone.

[DRKATO1]

FYI becoming an actual 501(c)3 non-profit is more time consuming and expensive than registering an LLC. It also wouldn't remove the liability or insurance requirements, our non-profit is insured up the wazzo and that's just in case a cat or dog scratches someone.

thanks for the info, crossed off my list

[Chris]

I do know the Harley shop will rent you a 2013 Bike. It was $175 for 24 hours on a FXDWG. $3k hold on the CC which covers the deductible.

I doubt your insurance would be OK with a claim on a bike your rented out though, also be prepared to screw up your history with insurance companies if it does happen and you don't go through proper channels.

How much does your health insurance cover on this surgery?

I would wait untill obamacare come into effect, buy a policy with a maximum out of pocket you can afford for the first year and get it done then, best of luck!

[DRKATO1]

People keep talking about insurance that I must have but i'm not riding the bike when you rent it. If you wreck my bike and you better have your own insurance to cover the liability portion of the damage that you do to someone else' car or whatever you hit. I will require a copy of your insurance card on your car or motorcycle that covers a rental bike like progressive does. But this coverage will not cover my bike, that is what the deposit is going to be used for to help fix my bike and if the deposit does not cover it all I may have to sue you for the balance. I know it's a PITA but just don't wreck my bike.
i'll have my own insurance and if I ever have to use it that will be the end of it.

[DRKATO1]

I've been riding Honda motorcycles for over 30 years and I bounce the rev limiter every chance I get, mostly on the track. they are made to be rode hard as you can push them and still get 80k miles out of them if maintained correctly. The CBR1000RR that I have 20k miles gets beat on by me all the time, i highly recommend it and it is faster now than when I purchased it off the showroom floor.

[DRKATO1]

Did I just read someone post compairing a Harley to my work of art RC51 swiss watch.
Wicky do you have your ban hammer ready.

I'm just kidding, I've owned a couple of Harleys and will never make that mistake again.
Can I get a hell yea.

I hope everybody has enjoyed reading my post, if I piss someone off im sorry.

[DRKATO1]

I think what is being said, and I saw it in several posts, is this.

OK so I am an asshole that rents your bike. I am out riding and the chain breaks, or the brakes fail, or someone pulls out in front of me and I just think the brakes fail, I don't have the experience so I just crash. Had to lay er down ya know. :D So being an asshole and not taking any responsibility for my own actions I sue you. I get your house, your car, and your savings in the process.

Yes they are out there for sure.

So all I am saying is make sure you protect yourself and not just the bike.

Not trying to scare you away and it sounds like a good idea but please do be mindful of the situation.

Man I am sorry. I was just trying to help you out and let you know what you could be in for. I guess it just pissed you off so I am out of here. :?

Marc

I agree with you 100%. I've got the asshole thing coverd

[jcj81]

I think people here are trying to make you see that people are Assholes and will sue you, no matter what you have in writing or contract. Guy I work with let his buddy ride his bike buddy takes girl friend for ride wrecks 10 months later his bike is still in impound buddy fucked up buddys girl friend got hurt sueing owner of bike, guy I work with. Has made it not to fun for him. All it takes is one a hole to make things really bad.

[DRKATO1]

Reminds me of a story from last year when a guy had his 3 month old car towed into the shop because he had blown up the motor. I pulled up the cars computer data and his max speed was 156 mph.
I do love what you can do with gps and on board data recording these days. All that money i spent to get my electronic engineering degree really comes in handy sometimes.

[DRKATO1]

Not only can I see your lap times at HPR in real time while sitting at home. I can show the cops how fast you where going on highway 70 to get there. But that's only if your an asshole to me.

[DRKATO1]

It's amazing what the new cars record during an accedent when airbags deploy.

After a couple of beers I tend to ramble and miss spell words.

[DRKATO1]

Anybody remember back in the early years when Hertz used to rent performance cars and had some kind of data recorder that could tell them you where at a racetrack going around and around at a high rate of speed.

[j0ker]

I think they have that on all their cars now. :)

I went to Cali on business a few years back and got a Corvette convertible. I pushed that thing all week and got caught doing donuts in the parking garage. (people who rent are assholes)

They also had Hummers, and a couple of other mid range sports cars that were pretty nice for rent.

[DRKATO1]

I was thinking they started it back in the early 70s when they first started renting camaros in southern cali.

[DRKATO1]

http://i704.photobucket.com/albums/ww50/drkato1/scanofrc51rentalfront.jpg (http://s704.photobucket.com/user/drkato1/media/scanofrc51rentalfront.jpg.html)

http://i704.photobucket.com/albums/ww50/drkato1/scanofrc51rentalback.jpg (http://s704.photobucket.com/user/drkato1/media/scanofrc51rentalback.jpg.html)

[DRKATO1]

I think people here are trying to make you see that people are Assholes and will sue you, no matter what you have in writing or contract. Guy I work with let his buddy ride his bike buddy takes girl friend for ride wrecks 10 months later his bike is still in impound buddy fucked up buddys girl friend got hurt sueing owner of bike, guy I work with. Has made it not to fun for him. All it takes is one a hole to make things really bad.

thanks for the input. I added no passengers to the contract because of your story.

[DRKATO1]

http://i704.photobucket.com/albums/ww50/drkato1/scanofrc51rentalfront.jpg (http://s704.photobucket.com/user/drkato1/media/scanofrc51rentalfront.jpg.html)

http://i704.photobucket.com/albums/ww50/drkato1/scanofrc51rentalback.jpg (http://s704.photobucket.com/user/drkato1/media/scanofrc51rentalback.jpg.html)
is this to small to read? I think it's a good start for a lawyer to look at. Any input would be thankfull

[sag]

lots of places rent motorcycles. i dont see any issue if you take care of the legal stuff properly. you can go rent brand new sleds all day long at any resort and they cost twice as much as any used sportbike does. and rent exotic cars et cetera. not to mention plenty of dealerships let you test ride bikes and yorue not even putting a deposit on them.

[FZRguy]

Do you not have health insurance? The rental idea is a bad idea from beginning to end....just sell the bike. You can always buy another bike after your daughter has recovered.

[DRKATO1]

Do you not have health insurance? The rental idea is a bad idea from beginning to end....just sell the bike. You can always buy another bike after your daughter has recovered.

insurance will only cover 80% and that still leaves a large balance, maybe Obama care will work out for me in the end. If I sell everything it would make the balance managable maybe.
Health insureance is such a bad joke right now.The way it is now she has one of the best spinal surgens going to do her prociedure but it cost just a little more if she didn't have any insurance at all.
Doctors jack up the price so high if they know insurance is going to be paying most of the bill.

I had a small crack in my heel bone last year and the doc looked at my xray and put me in a boot. He charged $455 to insurance and I was in his office for 10 minuets.

[bulldog]

lots of places rent motorcycles. i dont see any issue if you take care of the legal stuff properly. you can go rent brand new sleds all day long at any resort and they cost twice as much as any used sportbike does. and rent exotic cars et cetera. not to mention plenty of dealerships let you test ride bikes and yorue not even putting a deposit on them. Really? Maybe motorcycles, but is there places that rents sportbikes? I thought 303 Cycles was the only one and they stopped. I've seen numerous people come on this board asking where to rent a sportbike and never heard of one place. Please share these "lots of places"!

[asp_125]

All of the places I've seen are in the Bay Area or SoCal. You can even rent a Ninja 250 for $125 to get your M, or a Panigale for $299/day and you have to be over 25yo.

To the OP, I don't think anyone's saying it's a bad idea to offer the service , just beware of the potential costs of running a business beyond just signing a rental contract.

The "asshole factor": a renter comes to rent your bike and trips and falls on some gravel in your driveway, sprains an ankle. He sues you for not keeping the premises safe for customers. Idiots are everywhere, why do you think McDonalds has the warning "Contents are HOT" on their coffees and apple pies?

[Generic]

You might want to start with something like this Boat Rental Contract (http://seahag.com/Boat%20%20Rental%20Agreement.pdf)

Two full pages of "You assume all liability" initial here, here, here, here, there, up there, over here, down here, your mom, here, etc.

[j0ker]

You might want to start with something like this Boat Rental Contract (http://seahag.com/Boat%20%20Rental%20Agreement.pdf)

Two full pages of "You assume all liability" initial here, here, here, here, there, up there, over here, down here, your mom, here, etc.
Good find Generic!

[DRKATO1]

That reminds me I do need to get the sand off my driveway. thanks

[asp_125]

I've rented a motorcycle 3 times, all in CA. A CBR600RR, GSX-R600, and a Thruxton 900. All three times they put a $2000 credit hold on my card, and the fine print said I was responsible for repair costs to the bike if I biffed it. Needless to say, the hefty credit hold and fine print weeds out a lot of squids and marginal renters.

[DRKATO1]

I've rented a motorcycle 3 times, all in CA. A CBR600RR, GSX-R600, and a Thruxton 900. All three times they put a $2000 credit hold on my card, and the fine print said I was responsible for repair costs to the bike if I biffed it. Needless to say, the hefty credit hold and fine print weeds out a lot of squids and marginal renters.

This is exactly what i've thinking for a long time. I don't want to go on craigslist and advertise, I just want people like you and your friends to enjoy a day on a great bike.

[bulldog]

People keep talking about insurance that I must have but i'm not riding the bike when you rent it. If you wreck my bike and you better have your own insurance to cover the liability portion of the damage that you do to someone else' car or whatever you hit. I will require a copy of your insurance card on your car or motorcycle that covers a rental bike like progressive does. But this coverage will not cover my bike, that is what the deposit is going to be used for to help fix my bike and if the deposit does not cover it all I may have to sue you for the balance. I know it's a PITA but just don't wreck my bike.
i'll have my own insurance and if I ever have to use it that will be the end of it. Like I said earlier I do not think a person's auto insurance covers them on a motorcycle; could have sworn my State Farm agent told me this when I asked how it works! So you would be renting it to a uninsured motorist...which I would think is illegal! I've heard of one day policies, but I doubt many insurance even do that since it is more hassle than it is probably worth. I still don't understand how you are getting around the insurance issue since EVERY driver must be insured

I thought when I talked to DK at 303 Cycles he said he had to take out a huge insurance policy under his company to do this....which is eventually why he stopped doing it.

[DRKATO1]

Like I said earlier I do not think a person's auto insurance covers them on a motorcycle; could have sworn my State Farm agent told me this when I asked how it works! So you would be renting it to a uninsured motorist...which I would think is illegal! I've heard of one day policies, but I doubt many insurance even do that since it is more hassle than it is probably worth. I still don't understand how you are getting around the insurance issue since EVERY driver must be insured

I thought when I talked to DK at 303 Cycles he said he had to take out a huge insurance policy under his company to do this....which is eventually why he stopped doing it.

I had state farm for a long time because they are so cheap. If you have to file a claim with them they will try and screw you every way they can. They will not cover a rental bike if you have coverage through them at all period.
If you have a progressive policy they will cover the liabilty portion for a rental on a car or motorcycle with no extra cost to you. I have a dairyland policy and if i want to go to california or wherever i can rent a car or a bike and it will not cost me anything. but they only cover you and whatever damage you do to someone else or there property and it will not cover the rental bike. You must call your agent and talk to them. If you wreak a rental bike you are on the hook for the cost of repairs to it.

[bulldog]

I had state farm for a long time because they are so cheap. If you have to file a claim with them they will try and screw you every way they can. They will not cover a rental bike if you have coverage through them at all period.
If you have a progressive policy they will cover the liabilty portion for a rental on a car or motorcycle with no extra cost to you. I have a dairyland policy and if i want to go to california or wherever i can rent a car or a bike and it will not cost me anything. but they only cover you and whatever damage you do to someone else or there property and it will not cover the rental bike. You must call your agent and talk to them. If you wreak a rental bike you are on the hook for the cost of repairs to it. Well I know they cover rental cars (was a $5 month fee) because they did for me. As for a claim they just replaced a roof on my house with no issues, so never had anything bad with State Farm. I guess the issue here is every policy and carrier can be different so you would almost have to call each insurance for the person you are renting it to, to check their policy. If they say there is no sportbike rental coverage I'd think it would be illegal for the person to even ride it then......

And then why does $2K seem enough deposit then if it won't cover the bike? I assume a RC51 is worth more than that. Only choice at that point is to sue the person and in time your business is dead with no rental bike. Then you may get a judgement for like $50 a month for years....as others said, doesn't seem worth it :dunno:

[DRKATO1]

If you want to go to progressive.com and apply for full coverage policy you can pay them $60.00 or so, depends on your driving record and credit score and you can print out your insurance card right there. then you could cancel it the next day and they will send you a refund for the balance.

[bulldog]

If you want to go to progressive.com and apply for full coverage policy you can pay them $60.00 or so, depends on your driving record and credit score and you can print out your insurance card right there. then you could cancel it the next day and they will send you a refund for the balance.
So this is what you are going to have your clients do? You think many would actually do that?

[asp_125]

When I went to Cali and rented the bike, my SF agent said my current motorcycle policy was in effect. Of course I have 5 bikes and a car through them, they better treat me right. YMMV

[j0ker]

So this is what you are going to have your clients do? You think many would actually do that?
It's not unreasonable if he's looking for a "distinct" clientele to use his equipment. Someone with some forethought and enough money to cover the proper fees. It also gives him options for additional insurance coverage if he needs it.

Good luck man. Hope your Daughter gets better soon.

[bulldog]

It's not unreasonable if he's looking for a "distinct" clientele to use his equipment. Someone with some forethought and enough money to cover the proper fees. It also gives him options for additional insurance coverage if he needs it.

Good luck man. Hope your Daughter gets better soon. True, but a business is about making money and not others happy, so not sure it would amount to much profit if that is the goal. Plus others have tried in CO and failed, so just putting that warning out. All and all I hope it does workout for you, but the consensus here has been to not do it, so surprised you are still considering it.


When I went to Cali and rented the bike, my SF agent said my current motorcycle policy was in effect. Of course I have 5 bikes and a car through them, they better treat me right. YMMV I could see that with a current motorcycle policy, but with a regular auto policy it may be different.

[DRKATO1]

Well I know they cover rental cars (was a $5 month fee) because they did for me. As for a claim they just replaced a roof on my house with no issues, so never had anything bad with State Farm. I guess the issue here is every policy and carrier can be different so you would almost have to call each insurance for the person you are renting it to, to check their policy. If they say there is no sportbike rental coverage I'd think it would be illegal for the person to even ride it then......

And then why does $2K seem enough deposit then if it won't cover the bike? I assume a RC51 is worth more than that. Only choice at that point is to sue the person and in time your business is dead with no rental bike. Then you may get a judgement for like $50 a month for years....as others said, doesn't seem worth it :dunno:

You have some good points, maybe I should make it 3k. And I'm not trying to make this a business to make allot of money, I could get an business insurance policy but I would have to pass on the cost to you by jacking up the price then I would have the same problems DK had with his rentals

[bulldog]

You have some good points, maybe I should make it 3k. And I'm not trying to make this a business to make allot of money, I could get an business insurance policy but I would have to pass on the cost to you by jacking up the price then I would have the same problems DK had with his rentals
Just jacked up people in this world and I could see some fool giving you a stolen credit card and getting a bike with keys for $2k. Or some guy who doesn't care about his credit and sees a way to screw you since he is planning to file bankruptcy anyways; I actually knew a guy that did this and racked up all these bills because he knew he was filing and covered under that. I recently had a guy jip me on hundreds of dollars on car parts I bought and he filed for bankruptcy and I have been told there is nothing I can do....just so hard to trust anyone now.

[DRKATO1]

So this is what you are going to have your clients do? You think many would actually do that?
If you wanted to do it this way and you wreaked the bike all you are on the hook for is the deductable you choose. I would choose the lowest.
It's just an option, and a smart one I think.

[j0ker]

If you wanted to do it this way and you wreaked the bike all you are on the hook for is the deductable you chose. I would choose the lowest.
It's just an option, and a smart one I think.

I rented a snow mobile one year, was dicking around with some friends and completely totaled the front of the ride into a tree. My $40 additional insurance paid for the whole thing. Was completely worth it!

[bulldog]

If you wanted to do it this way and you wreaked the bike all you are on the hook for is the deductable you choose. I would choose the lowest.
It's just an option, and a smart one I think. And what if they don't. You are stuck with a wrecked bike and $2k. Sure you can sue them, but that is going to be a long process....


I rented a snow mobile one year, was dicking around with some friends and completely totaled the front of the ride into a tree. My $40 additional insurance paid for the whole thing. Was completely worth it! But isn't that covered under the business's insurance then? I though he was trying to avoid having to get company insurance

[DRKATO1]

Just jacked up people in this world and I could see some fool giving you a stolen credit card and getting a bike with keys for $2k. Or some guy who doesn't care about his credit and sees a way to screw you since he is planning to file bankruptcy anyways; I actually knew a guy that did this and racked up all these bills because he knew he was filing and covered under that. I recently had a guy jip me on hundreds of dollars on car parts I bought and he filed for bankruptcy and I have been told there is nothing I can do....just so hard to trust anyone now.
I will get a copy of your drivers license with the M endorsement, run your credit card for the deposit and I have your money. and copy of insurance with Colorado minimum. You will be video taped

[bulldog]

I will get a copy of your drivers license with the M endorsement, run your credit card for the deposit and I have your money. and copy of insurance with Colorado minimum. You will be video taped Correction...you will have $2K of my money...not enough to replace the bike!

[DRKATO1]

If you pay me with a credit card and file for bankruptcy i've already have your money. you will be the one dealing with the credit card company and court. not me

[bulldog]

If you pay me with a credit card and file for bankruptcy i've already have your money. you will be the one dealing with the credit card company and court. not me Again, you only ran $2K on card...so that is all you get...plus I'd cancel that card the minute I wrecked that bike (and before you knew so you couldn't charge more on it)

PLAYING DEVILS ADVOCATE OF COURSE AS I WOULD NEVER SCREW SOMEONE

[DRKATO1]

Correction...you will have $2K of my money...not enough to replace the bike!
I'll take the $2200.00 and go down to Faymyers and buy me a new Honda. LOL

[bulldog]

I'll take the $2200.00 and go down to Faymyers and buy me a new Honda. LOL Yeah maybe an old CBR F2 for $2200.00 :lol:

Hell I'll make you that trade now....a $2200 bike for a RC51 :D

[DRKATO1]

Yeah maybe an old CBR F2 for $2200.00 :lol:

Hell I'll make you that trade now....a $2200 bike for a RC51 :D
That's just the down payment on the new V4 CBR that will come out in a couple of months

[bulldog]

That's just the down payment on the new V4 CBR that will come out in a couple of months Yeah but for $2200 you can put your deposit down today! And I get a RC51 (I'll ride with Aireed so we can be twins) :D

[DRKATO1]

This is what you really want isn't it. It has a cup holder for your beer.



http://i704.photobucket.com/albums/ww50/drkato1/IMAG0169.jpg

[DRKATO1]

Bulldog its been a pleasure talking with you but i've got a Physical therapy appointment with my daughter.
I'll check back tonight.

[bulldog]

This is what you really want isn't it. It has a cup holder for your beer.



http://i704.photobucket.com/albums/ww50/drkato1/IMAG0169.jpg

Sheesh at least throw in your dirtbike
http://i704.photobucket.com/albums/ww50/drkato1/image.jpg





:o
http://i704.photobucket.com/albums/ww50/drkato1/IMG_20111003_114123.jpg

[DRKATO1]

Dirt bike traded in for the CBR long time ago.
The RC is a friends that hit head on with a car and broke both his legs. He very lucky to be alive. was at Golden gate canyon.
I still have the wreaked RC in my garage he doesn't want to see it anymore.

[bulldog]

Dirt bike traded in for the CBR long time ago.
The RC is a friends that hit head on with a car and broke both his legs. He very lucky to be alive. was at Golden gate canyon.
I still have the wreaked RC in my garage he doesn't want to see it anymore.
Fine, so how much for the pedal bike then??? :lol: Just kidding, but I'd wheelie that thing hardcore with a beer in it's holder!

[CaneZach]

It's amazing what the new cars record during an accedent when airbags deploy.

After a couple of beers I tend to ramble and miss spell words.


Actually, you don't need them to deploy on some. You can have a deployment or non-deployment event where the ACM still records the pre-crash data.

[FZRguy]

I agree that the health insurance companies run the medical industry in this country. Doesn't your policy have a "Max Out of Pocket" benefit? I have United and my max out of pocket for in network is $2500, out of network it is $5000.

[TinkerinWstuff]

I agree that the health insurance companies run the medical industry in this country. Doesn't your policy have a "Max Out of Pocket" benefit? I have United and my max out of pocket for in network is $2500, out of network it is $5000.

it's the result of government attempts at regulating the industry.

[DRKATO1]

can't remember max out of pocket but my yearly deductable is $2500.00

[DRKATO1]

Actually, you don't need them to deploy on some. You can have a deployment or non-deployment event where the ACM still records the pre-crash data.

It was a sad day when i showed the customer he was doing 150+ mph when his engine blew up and the service writer told him it wasn't covered.

[j0ker]

It was a sad day when i showed the customer he was doing 150+ mph when his engine blew up and the service writer told him it wasn't covered.
That IS a sad day!

[bulldog]

can't remember max out of pocket but my yearly deductable is $2500.00 I work in this industry (sad to say), but you should be able to call your insurance provider to see what it is. Basically he is saying that if you meet that out of pocket that is as much as they can hit you for since you have valid insurance; well insurance companies are crooked so they will try to deny services so they get around this, but there is a max. At that point you have to appeal the payment and usually if you fight them enough they will pay. You should also look into setting up a flex spending account too because then medical expenses are not taxed and can save you a lot of money if the surgery is huge. Normally though you should only have to pay that $2500 deductible if you stay in network so the surgery is probably going to be covered more than you think if it is not a pre-existing condition that your insurance has flagged you with or non-covered!

Last you may want to see if your daughter would qualify for Medicare if this is a life disability. Most people think Medicare is only for people over 65 years old, but it is also for disability and ESRD (end stage renal disorder; kidney failure). May be worth applying...

[TinkerinWstuff]

I work in this industry (sad to say), but you should be able to call your insurance provider to see what it is. Basically he is saying that if you meet that out of pocket that is as much as they can hit you for since you have valid insurance; well insurance companies are crooked so they will try to deny services so they get around this, but there is a max. At that point you have to appeal the payment and usually if you fight them enough they will pay. You should also look into setting up a flex spending account too because then medical expenses are not taxed and can save you a lot of money if the surgery is huge. Normally though you should only have to pay that $2500 deductible if you stay in network so the surgery is probably going to be covered more than you think if it is not a pre-existing condition that your insurance has flagged you with or non-covered!


Maybe the rest of us need a new policy then cuz most of the folks I know have to pay their out of pocket deductible BEFORE the 80/20 kicks in. So you pay $2500 and then 20% of the overinflated list price of the hospital procedure (not 20% of the significantly reduced negotiated rate the insurance company actually pays). It's becoming more and more common to be able to obtain a cash quote for a surgery that will cost you less than running the same procedure through insurance.

[FZRguy]

I've never been responsible for the diff between the charge and the negotiated rate with United...wasn't with Aetna either. I think negotiated prices are one of the biggest benefits of being insured, at least it has been for me. My knee surgeries have been running about $300 after my deductible of $400 has been met, and I meet the deductible with a Flex Spending Account via work.

[DRKATO1]

Thanks for the info everybody, i'm taking it all in.

[bulldog]

Maybe the rest of us need a new policy then cuz most of the folks I know have to pay their out of pocket deductible BEFORE the 80/20 kicks in. So you pay $2500 and then 20% of the overinflated list price of the hospital procedure (not 20% of the significantly reduced negotiated rate the insurance company actually pays). It's becoming more and more common to be able to obtain a cash quote for a surgery that will cost you less than running the same procedure through insurance. Yup, every plan is different and some really suck! There are even plans with no deductibles where people pay zero for surgeries! All depends on what your employer and you want to pay for monthly! Shit you can even get two or three insurance and guarantee you never pay when a emergency comes up.

[Lomax]

Here is one to start with

http://denver.craigslist.org/mcy/3894897238.html

[Spooph]

So, I've been thinking about this for a long time as well! Actually, more along the ideas of a community garage, so that more people would have access to more bikes, but haven't had the time to check into it.

Things to check on:
Call an insurance company and find out what the rates would be for a LLC, and run it as a business.... Add this rate to your monthly payment for the bike. Add that amount to maintenance costs. Add 30% on top of that and you have your rental rate.

Things to do:
Register an LLC. That way, if you get sued, the company can go bankrupt (during a lawsuit or some such) and isolate you to some extent from your personal assets.
Contact a lawyer (Law Tigers?) and consult with a lawyer to draw up an enforceable contract and talk to them about what would be the best way to go about this.

Be under no delusions, you are starting a small company, and if you don't treat it that way, a lot of the horrible things all the other folks are saying.

Keep us posted. If'n you can make this work, I might have a motorcycle to put into the "pool", so to speak... This could be a really cool/good thing for you and possibly the CSC?

[DRKATO1]

spooph thanks for the the great positive ideas,and the feed back. LLC= $50.00 what a no brainer that was.

[DRKATO1]

Any body want to rent one of the most impressive Hondas ever mass produced let me know at info@rentrc51.com.
The 1000RR is rented for while.
RC51 is avialable on a limited basis.

http://i704.photobucket.com/albums/ww50/drkato1/IMAG0162.jpg (http://s704.photobucket.com/user/drkato1/media/IMAG0162.jpg.html)

http://i704.photobucket.com/albums/ww50/drkato1/IMAG0155.jpg (http://s704.photobucket.com/user/drkato1/media/IMAG0155.jpg.html)

[gfcornejo]

Hey there is this website now called www.riders-share.com where you can list and rent out your motorcycle. Check it out!



Any body want to rent one of the most impressive Hondas ever mass produced let me know at info@rentrc51.com.
The 1000RR is rented for while.
RC51 is avialable on a limited basis.

http://i704.photobucket.com/albums/ww50/drkato1/IMAG0162.jpg (http://s704.photobucket.com/user/drkato1/media/IMAG0162.jpg.html)

http://i704.photobucket.com/albums/ww50/drkato1/IMAG0155.jpg (http://s704.photobucket.com/user/drkato1/media/IMAG0155.jpg.html)

[~Barn~]

Bump it!