So after reading up on some other posts I decided to get a quote for my new (lightly used) 08. Geico had quoted me at about $1200 a year for full coverage. I called State Farm this week and I will be getting full coverage for $375 a year. I asked the agent what the coverage for accessories was, for example: chrome, and she responded saying:
From my understanding they will lookup the value in some chart and pay respectively. Has anyone with a custom motorcycle made a claim with State Farm and got their custom parts covered or did they just pay for the value of the stock bike?The policy has no limitations on customizations on the motorcycle. So if you added a chrome exhaust, then the policy would pay for the chrome exhaust. With that being said in the event of a loss to the motorcycle, the policy will not pay more than the Actual Cash Value of the motorcycle. So hypothetically if you have a motorcycle valued at $5000.00 and you do $3000.00 worth of upgrades, the actual value of the motorcycle could increase to letâ€™s say $6000.00 or it could stay the same value of $5000.00 in that event the policy still would only pay up to the Actual Cash Value of the motorcycle being the $5000.00 or $6000.00. I hope this answered your question.