Bob Smith is 25 years old and has been a licensed motorcyclist for three years. He took a Motorcycle Safety Foundation course, has one speeding ticket, is single, is a renter in Glendale, California, and commutes to work, riding about 5000 miles per year. He owns a 2004 Yamaha V-Star 1100 Custom. As a young person with no family and few assets, Bob felt comfortable getting lower coverage limits of $15,000/$30,000/$10,000 liability (per person/all persons per incident/property damage), un/underinsured motorist coverage of $15,000/$30,000 and comprehensive and collision with a $500 deductible (meaning in the event of loss or damage, Bob is responsible for the first $500). The rates ranged from $802 to $1941 per year.