Insurance coverage on custom parts
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Road Master
Joined: Aug 2008
Posts: 771
Likes: 0
From: Cincinnati
Insurance coverage on custom parts
I am going to bump up my insurance coverage this year. I have a lot of expensive parts on my bike. I need to come up with a accessories coverage total for my insurance company.
What are some of the things covered on your bike and how detailed should I get with them ?
What are some of the things covered on your bike and how detailed should I get with them ?
Road Master
Joined: Jan 2011
Posts: 893
Likes: 0
From: Knob Noster, MO
I am going to bump up my insurance coverage this year. I have a lot of expensive parts on my bike. I need to come up with a accessories coverage total for my insurance company.
What are some of the things covered on your bike and how detailed should I get with them ?
What are some of the things covered on your bike and how detailed should I get with them ?
Tourer
Joined: Mar 2009
Posts: 258
Likes: 1
From: Kings Mountain, NC
My policy is a straight dollar for dollar amount above the replacement cost of the stock bike. I gave my agent an Excel spreadsheet that itemizes every additional part I put on my bike. Part name, Part number, Supplier, Cost and labor for installation (had a heart attack when I saw the bottom line). They gave me a quote for how much this additional coverage would cost and it is now a rider on my policy. My camping trailer is also covered under this rider.
Extreme HDF Member
Joined: Sep 2010
Posts: 14,744
Likes: 402
From: Phoenix '53, '88, '09 Big Twins
it varies by ins company and State.
ask your insurance writer/broker/ agent for expert advice and pricing
some policies incl. some coverage.
some just use an "agreed value"
always good to keep records of parts installed, cost or part and labor charges
mike
ask your insurance writer/broker/ agent for expert advice and pricing
some policies incl. some coverage.
some just use an "agreed value"
always good to keep records of parts installed, cost or part and labor charges
mike
Grand HDF Member
Joined: Apr 2005
Posts: 4,022
Likes: 3
From: Hudson Valley- NY
Custom Accessories Coverage
All good advice here and things will vary by state and insurance carrier. Do your homework and have everything documented before that accident that will never happen. After an accident, or worse when bike is stolen is not the time to start putting together a list of accessories you installed.
Keep copies of all receipts especially for the higher ticket items. Keeping good records and receipts is good, but I'd go one step further and photograph the bike with the accessories installed. Pictures from every angle, showing all of the accessories is another piece of cheap insurance. Print them out if you want hard copies, but keep the digital photos in a safe place so they can be e-mailed to your adjuster or carrier for their electronic files.
It's the old an ounce of prevention routine, better to have it and not need it than try to reconstruct everything once the bike is damaged or stolen. Like the OP stated, is is pretty eye-opening when you total up all of those $40 and $50 parts we install. You may have a lot more invested in the bike than you think.
Keep copies of all receipts especially for the higher ticket items. Keeping good records and receipts is good, but I'd go one step further and photograph the bike with the accessories installed. Pictures from every angle, showing all of the accessories is another piece of cheap insurance. Print them out if you want hard copies, but keep the digital photos in a safe place so they can be e-mailed to your adjuster or carrier for their electronic files.
It's the old an ounce of prevention routine, better to have it and not need it than try to reconstruct everything once the bike is damaged or stolen. Like the OP stated, is is pretty eye-opening when you total up all of those $40 and $50 parts we install. You may have a lot more invested in the bike than you think.
Outstanding HDF Member
Joined: Apr 2010
Posts: 3,373
Likes: 4
All good advice here and things will vary by state and insurance carrier. Do your homework and have everything documented before that accident that will never happen. After an accident, or worse when bike is stolen is not the time to start putting together a list of accessories you installed.
Keep copies of all receipts especially for the higher ticket items. Keeping good records and receipts is good, but I'd go one step further and photograph the bike with the accessories installed. Pictures from every angle, showing all of the accessories is another piece of cheap insurance. Print them out if you want hard copies, but keep the digital photos in a safe place so they can be e-mailed to your adjuster or carrier for their electronic files.
It's the old an ounce of prevention routine, better to have it and not need it than try to reconstruct everything once the bike is damaged or stolen. Like the OP stated, is is pretty eye-opening when you total up all of those $40 and $50 parts we install. You may have a lot more invested in the bike than you think.
Keep copies of all receipts especially for the higher ticket items. Keeping good records and receipts is good, but I'd go one step further and photograph the bike with the accessories installed. Pictures from every angle, showing all of the accessories is another piece of cheap insurance. Print them out if you want hard copies, but keep the digital photos in a safe place so they can be e-mailed to your adjuster or carrier for their electronic files.
It's the old an ounce of prevention routine, better to have it and not need it than try to reconstruct everything once the bike is damaged or stolen. Like the OP stated, is is pretty eye-opening when you total up all of those $40 and $50 parts we install. You may have a lot more invested in the bike than you think.
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Thread Starter
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Road Master
Joined: Aug 2008
Posts: 771
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From: Cincinnati
Thx for the advice,
I will take get some photos and paper trail for the insurance company.
Milton
I will take get some photos and paper trail for the insurance company.
Milton
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Seasoned HDF Member
Joined: Mar 2008
Posts: 9,384
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From: Central Texas
I have always kept every recipt for every thing
that I have had done to or put on my bike and
they are covered by dearyland insurance I am
paying a little over 1200.00 a year for my bikes
insurance. Oh and by all means read your insurance
policy and make sure they DO NOT screw you should
something bad happen. Ask me how I know this !!!
that I have had done to or put on my bike and
they are covered by dearyland insurance I am
paying a little over 1200.00 a year for my bikes
insurance. Oh and by all means read your insurance
policy and make sure they DO NOT screw you should
something bad happen. Ask me how I know this !!!
Last edited by 6 gun; Jan 4, 2012 at 09:25 PM.
