I just bought a new bike and of course they want to sell you the extra warranty coverage and i bought it with my last bike and never used it,so I'm thinking of passing on it with this one.

So the newest thing they have to offer (which they didn't in '08) is this Theft Protection which costs 499.00 and gives u upto 5000.00 and is limited to 5 yrs,and they put some kind of traceable codes on the bike and register it in some database.

i am unsure what to do...any input would be helpful

thanx in advance

 

Not sure why you would need it. If you have full coverage insurance then your comprehensive would cover theft with what should be a small deductible.

 

The money from hd is applied to the purchase of a new bike within a certain amount of time after a theft, no new bike no money, if i remember correctly.

 

i don't get it either hmmm but i do know that my insurance will only give me what "their book"deems is the value.
but heres the info on what they said this extra 5yr limit warranty benefit covered for 499
I RETYPED WORD FOR WORD THE SHEET I WAS GIVEN BY MY HD DEALER below

*motorcycle theft is one of the fastest growing crimes in north america
*one motorcycle is stolen every 7.5 minutes in this country
*95% of all theft performed is organized crime
*chances of recovery are less than 50%

h-D Theft Protection Product is a process by which your motorcycle is marked with traceable codes.It is registered in a secure database accessible to law enforcement agencies in Canada and the U.S

*motorcycle registration of marked parts increases the chances of recovery by 85%
*insurance Co will not adequately cover the cost associated with motorcycle theft(insurance deductible,payoff deficiencies and taxes on replacement of bike)

What means for you if your bike is stolen.
*if your bike is stolen and declared a total loss to theft,you will be glad to know that this product comes with a limited guarantee benefit of up to $5000.you can use this to cover various out of pocket expenses associated with bike theft,such as your insurance deductible,down pymts,taxes and fees on a replacement bike and any payoff deficiency.HD theft protection product is highly effective and relatively inexpensive.

i would like any input on this please,is it a good idea or a money grab???

 

It's ALL a money grab . . . until you need it. Then, it becomes a worthwhile investment.

 

interesting wording "of up to $5,000", the dollar value probably goes down every year untill the 5 years is up

 

You have insurance. If you want your parts back just go on Ebay or Crages list and buy them back . Think of the money you save on discounted parts.

 

what i was sort of understanding is that the bike i paid 20,000 for today gets stolen,and the insurance guys tell me its only now worth 12,000 that the HD insurance will kick in the extra 5000 ? to help my loss....

i don't know going to give my insurance guy a call i would rather give them the extra 100 over 5 yrs if it ups the amount the bike is covered for.

anyway i was looking for some insight as they keep wanting extra cash for this coverage and that coverage and warranties etc and there is so much fine writing and may cover and may not cover,that you need a lawyer!!

Cheers

 

I always bought the theft protection, but never needed it. UNTIL now. about 3 weeks ago someone stole my 2021 Street Glide Special from the Palladium Movie Theater in that really nice La Cantera Shopping Center on I-10 in San Antonio. Full coverage insurance will cover up to a certain value of the bike. Gap insurance will cover the difference plus your deductible. So if the bike owed was 30K, insurance pays $20K (less the deductible), then gap covers the difference plus that deductible. Also noted is that insurance doesn't necessarily pay you anything for the addon's/upgrades unless what you owe is less than what they deem your bike valued at. You can give them a list of everything you added and upgraded. Then two choices have to be made: 1) have them evaluate the addons/upgrades to pay you, or 2) don't worry about it. They told me that often for every $100 of upgrade/addons they give about $30.

That said, the "up to 5,000" is because the theft package is only for that dealership you bought it at and its up to them how much they want to offer. I did buy the package with $5000 toward new bike (hoping i would never need it but there in case i did). So if i go buy a new harley now I will get the $5,000. One problem i could see with this is if you buy the buy in say California and get that package with the $5000 and then you move to say New Hampshire and then the bike is stolen there. They say you can see if the dealerships will work with each other, but likely you would have to go back to the originating dealer to get your $5000 toward the new bike.

Hope this helps.