Not exactly waterproof, I don't even choke on the snow guard. Keeps the leaves/sap off the bike though. Slightly loose around the grille/mirrors allowing water to collect in the slack. UPDATE 2/3/17: I've changed my mind, for the price (and even at any price) this thing is amazing. My bike is shorter than the one in the photo (EX250) so the bag lays completely flat on the ground and the inside stays dry. During SUPER heavy rain I put a microfiber towel on the seat under the blankets to soak up residual/evaporative moisture, but snow isn't even a problem and even prevents frost buildup on cold but not snowy days. . I also wore it once or twice right after coming home and couldn't find any damage to the shiny part which not only reflects light and makes the bike visible when parked outside but also acts as a heat shield. I even left the small bungee hooks unhooked in high winds and they didn't come loose.
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