Finally got my insurance money

[dezzy7]

Ok lets say I'm not pleased, and in all honesty how can I be?
10k for a new bike in Dec 01 + 10k in mods = $7 insurance claim.

What I've learned
1. If you are going to invest heavily in a bike either
A. pay the add'l $ for full replacement of all acessories, or
B. pay liability only and bank the difference.
Why..lets say you pay $1000 to $1500 a year in insurance own the bike 3 yrs and it "disappears". You've now paid $4500 in insurance on bike thats after 3 years in going to be valued by the insurer at about $6300. Basically you're getting 4500 of your money back and $1800 of the insurers money. lets say you don't have a claim and a 5yr policy now you've paid 5k to 7.5k in insurance... Ok i know it may be worth it to some, and yeah i'm venting but i still haven't gotten over the loss of my beloved busa -- a 2yr project bike that was stolen days after its final completion. ( oh and of course the insurer laughed at my

about the trailer)

So basically the next bike is cash up front and simple liability insurance about $200 a year. As for mods I don't think their will bealot of mods on the next busa

but one never knows about the future

 

[PaceMaster]

Dayam Dezzy-- glad to here from you though..I feel your loss...Insurance companies...Arrg..you know the facts..I know......Sorry it went to Hell for you....
Maybe some day you can feel good about it all..keep that Busa Locked up..even that may not work...pager alarm maybe...to stop them bastid's....How's the child...
you are a better man than me...newish---Dad that you are----Be well my friend

 

[Revlis]

Yeah Dezzy My Brother... Insurance doesn't give a crap about your accessories unless you have the bike appraised and then insured for that value. Assuming your insurance will do that.

Just think about the folks with the chromed up Turbo bikes?

Spend $20K more than the bike is worth... then have it totalled? That's going to suck...

So yeah Dezzy I'm with you man. I might see about getting liability though, just to prevent some jerk off from suing you for breaking his car windshield with your head or something stupid.

 

[billbell]

When I got my bike financed, I paid an extra $100 for GAP insurance. It will atleast pay off what the insurance companies won't and I would receive an extra $1000 towards down payment of another bike. As far as what extra I have in it, which isn't very much, I would be SOL

 

[ndufan]

hey Dezzy, who was your ins. carrier? Not that it matters I guess, all are just out to make money by not paying out claims.

 

[zukracer]

dang dezzy, you are just now getting your money?!?!

man that nubs much wang. I know I have full replacement covereage on mine through USAA but hopefully I dont have to exercise it again. They did pay me nicely for my gsxr1100 though, so I'm happy with them.

 

[dezzy7]

i had insureance through sun & alliance, but basically it doesn't matter . I checked with an atty and unless it specifically says additional accessories are covered they are not regardless what the insurance people tell you. mine policy stated motorcycle and accesories--- however, when it came down to it the company pointed out it was only the "accesories" that came stock on the bike

 

[pyrrhic]

WOW, Here for insurane you can set the value of the bike and thats what you'll get if your bike is stolen. and not as expensive as the states but it does take time to receive it. I had mine insured for 10k, 9 months later it was stolen and just over 7 months I received the 10k. There was still a lose 8 months no bike to ride. Ever since that Im glad to pay insuracne.

 

[phatjoe]

sorry to hear about this deezy ins companies are shady bastids