Well, I called State Farm last week to have my insurance adjusted on my baby and they said that they don't really insure custom motorcycles. They told me that I can keep the reciepts for it all but in order to re-adjust the value of the bike they don't cover custom bikes. I have done alot to it lately and if something was to happen to it (stolen, crashed) I don't want to get paid the retail value for something that I have put alot of time and money into. Does anyone know a insurance company that will insure all the chrome and such that I have done to my bike or do I just keep the reciepts and turn them in if something happens. I know that custom items don't really increase the retail of a bike but I would think that your insurance should cover something that you have invested that much money into.
Insurance help please!
- Thread starter USMCBUSA
- Start date
Jeremy -
This is one of many pitfalls for customizing any vehicle.
If you get a 1967 Camaro and trick it out, you wont get anything near what you put into it. You will get what a 1967 Camaro is worth, TO the insurance company. I.E. they take the year of the car, make and model and do a deprecieation.
To the best of my knowledge what people do in cases like this is you have to get addional insurance. I have been told there are company's that will provide extra insurance on vehicles.
I have never pursued it so I can give you any more information other than that is what I have been.
Good luck
This is one of many pitfalls for customizing any vehicle.
If you get a 1967 Camaro and trick it out, you wont get anything near what you put into it. You will get what a 1967 Camaro is worth, TO the insurance company. I.E. they take the year of the car, make and model and do a deprecieation.
To the best of my knowledge what people do in cases like this is you have to get addional insurance. I have been told there are company's that will provide extra insurance on vehicles.
I have never pursued it so I can give you any more information other than that is what I have been.
Good luck
For cars, that's not entirely true. There are a couple of insurance companies that specialize in custom and collector cars, Grundy and Hagerty being the two major companies. They understand the market and the hobby. I don't know of any for motorcycles.
Actually USAA has an affiliate (not Progressive) that may be the right company for you. I cannot remember the name but when I was looking around the progressive/USAA rep put me in touch with another USAA affiliate that specialize in custom bikes primarily the Big Dog type bikes. I could get a pretty good deal with them at the loss of comprehensive and theft. Hope this helps I can try and find thier number if you are interested.
Brian
Brian
Good question ... maybe call or visit a shop that customizes bikes and ask who they use? Can't imagine that nobody insures custom bikes (especially when just about every H-D on the road is customized). Good luck.
Hagerty insures both of my Honda CX turbo motorcycles with a very generous agreed value (let's just say more than a brand new Busa). 300K liability limits, spare parts coverage, flat bed towing, ZERO deductible ect. 500T runs $70 a year and the 650T is $80 a year.
They'll definitely pick up classic and extremely rare bikes along with newer exotic cars, boats and custom made hotrods.
You're right on modified cars. Invest $100,000 into customizing a '67 Camaro and as long as it's insured for that, you'll get $100,000 if it's stolen or destroyed...not a dime less or a dime more.
I have 4 vehicles insured through them and I actually smile when I write off that yearly check to Hagerty.
I don't think Hagerty does custom bikes, just classic/antique and a few newer ultra rare models. I guess it wouldn't hurt to call and ask.
TheWheelman
Registered
i am pretty sure my insurance company is not nationwide, but they offer additional coverage above the full replacement value of my vehicle. its something like 10 dollars per 1000 in upgrades (with reciept) every six months, for instance, my insurance is like 600 and change per six months, if i were to add 3000 in rims and tires, and 1000 in suspension mods, and on and on, i would add coverage by paying an extra 10 dollars every six months for each 1000 in upgrades.... love my insurance options, hate my insurance premiums...
-WHEELMAN
-WHEELMAN
