Declaring mods on insurance...
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Extreme HDF Member
Joined: May 2007
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From: North Yorkshire,England.
Declaring mods on insurance...
I just said handlebars and indicators (didn't mention wheels either)....didn't mention S/E stage one...but Isn't S/E stage one looked upon as a H.D item,so not a mod?....but It does affect preformance so should have told the insurance people.
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Extreme HDF Member
Joined: May 2007
Posts: 11,452
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From: North Yorkshire,England.
RE: Declaring mods on insurance...
Yeah...but don't the mods get covered by how much you bought the bike for and insuring It for the same price?.....I was thinking they might be looking at a performance angle?
Road Master
Joined: Aug 2006
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From:
RE: Declaring mods on insurance...
ORIGINAL: Tommo
I just said handlebars and indicators (didn't mention wheels either)....didn't mention S/E stage one...but Isn't S/E stage one looked upon as a H.D item,so not a mod?....but It does affect preformance so should have told the insurance people.
I just said handlebars and indicators (didn't mention wheels either)....didn't mention S/E stage one...but Isn't S/E stage one looked upon as a H.D item,so not a mod?....but It does affect preformance so should have told the insurance people.
If the latter, I paid a little extra to cover all my mods as well as the bike. I just have to document them in case something happens. But I don't know how insurance works in the UK.
Club Member
Joined: Feb 2007
Posts: 16,320
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From: Boynton Beach, FloriDuh
RE: Declaring mods on insurance...
It's not real hard to figure out. If your bike is totaled or stolen and you don't list any added options you're going to get reimbursed the the current value of a stock bike, same year, model, etc. If you list $3000 in added options, the value of the options will be added to the stock value of the bike.
Stage I
Joined: Jun 2007
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From:
RE: Declaring mods on insurance...
Depends on who your insurance company is. State Farm will reimburse you for whatever you had prior to the loss, most other insurers require that you inform them of accessories or they will not cover them.
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Road Warrior
Joined: May 2007
Posts: 1,754
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From: Fort Worth, TX
RE: Declaring mods on insurance...
Call up the insurance company and ask if the premium changes with a common dealer installed performance mod. Tell 'em it's an engine efficiency modification. Then tell them what it is. Don't tell them you already have theStage 1until you get a confirmation that your rates won't rise simply because you have the modification.
Some insurance companies think you are an increased claim risk if you have certain performance enhancements, and will gladly raise your rates if they know about it. Then they will raise your rates on top of thatif you decide tocover parts of said modification. If this is the case, then you don't have the mod. Some companies, as already noted, don't care what the mod is.
Teek
Some insurance companies think you are an increased claim risk if you have certain performance enhancements, and will gladly raise your rates if they know about it. Then they will raise your rates on top of thatif you decide tocover parts of said modification. If this is the case, then you don't have the mod. Some companies, as already noted, don't care what the mod is.
Teek
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Club Member
Joined: Feb 2007
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From: Boynton Beach, FloriDuh
RE: Declaring mods on insurance...
ORIGINAL: bigguynak
Depends on who your insurance company is. State Farm will reimburse you for whatever you had prior to the loss, most other insurers require that you inform them of accessories or they will not cover them.
Depends on who your insurance company is. State Farm will reimburse you for whatever you had prior to the loss, most other insurers require that you inform them of accessories or they will not cover them.
I have never known an ins. company to give anything away. So, if the wife and I own 2 -06 1200C sporties, hers is factory stock and mine has $5000 worth of added options, you are saying State Farm is going to charge the same rate for collision and theft coverage for her bike as they do for mine? If that's true, I would have to assume that they are overcharging me for the coverage on her bike since I doubt they are covering the extras on my bike for free.
I'm not debating you, just raising the question.
Road Master
Joined: Aug 2006
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From:
RE: Declaring mods on insurance...
ORIGINAL: cHarley
This raises a question and food for thought.
I have never known an ins. company to give anything away. So, if the wife and I own 2 -06 1200C sporties, hers is factory stock and mine has $5000 worth of added options, you are saying State Farm is going to charge the same rate for collision and theft coverage for her bike as they do for mine? If that's true, I would have to assume that they are overcharging me for the coverage on her bike since I doubt they are covering the extras on my bike for free.
I'm not debating you, just raising the question.
This raises a question and food for thought.
I have never known an ins. company to give anything away. So, if the wife and I own 2 -06 1200C sporties, hers is factory stock and mine has $5000 worth of added options, you are saying State Farm is going to charge the same rate for collision and theft coverage for her bike as they do for mine? If that's true, I would have to assume that they are overcharging me for the coverage on her bike since I doubt they are covering the extras on my bike for free.
I'm not debating you, just raising the question.