I posted the story in general.

What I want to know is this: I have full coverage on a paid off, stolen and probably never going to be recovered, '07 Heritage with State Farm. NADA says book on her is 10,500 (holy crap depreciation is a bitch!). I have to wait the 3 weeks before they tell me anything.

Any idea how badly I'm going to get screwed and is there any way to prevent it?

Thanks a ton.

 

Should maybe looked into GAP coverage will make the difference,it did for me on a car.

 

It's been paid off for years. Is that what gap coverage is for? My concern at this point is not getting enough back to buy a new bike.

 

Gap is for people that finance more money than the bike is worth. So if you have a loss, gap pays what the insurance does not cover on the loan.
If your bike is stolen and is worth book value of $10,000 dollars and you still owe $12,000
gap will cover the $2,000 dollar difference.
In your case your bike is owned free and clear. Your insurance company will pay you fair book value at time of loss. Gap is for people who have a loan on the bike and owe more than the bike is worth.

 

So I'm guessing I'm only gonna get NADA book value then? Well that's only a $7,000 loss! Woo!

I can't believe this. My riding days are over for awhile I guess.

 

I am at a little bit of a loss here. If you get $10,000 how are you out $7,000. Even if you paid $17,000 you can buy 2007 Heritage for $10,000 or so all day long.

Also, did,you have a rider that covers extras that you may have had on the bike. Mine will cover up to $3,500 in extras.

 

insurance companies do not give you what you paid for the bike new 7 years ago...the premiums for such coverage would be tremendous. you could not sell the bike for what you paid for it new years ago, so why would the insurance company give you more than it is worth? when you are looking for another bike, are you going to give the owner what he paid for it new several years ago? of course not, your thinking is way off base here.

 

Would be interested in knowing what you've been paying for your full coverage. I have stayed with the Harley insurance thru Progressive because it does buy me a brand new bike of my model or equivalent in case of a total loss. First year was about $600, but now into my 3rd year it has gone down to $400. I do know I could get cheaper premiums with other companies like Geico, but stay with Progressive because of that "new" bike policy.

 

No offense but you said that NADA value was $10,500 for a 7 year old bike. How do you figure that you are loosing $7,000? No insurance company that I know of is going to give a person what they paid new for a 7 year old bike if it gets lost or stolen, sorry but that's life.