Motorcycle Insurance Policy
Motorcycle Insurance Policy
You’ve got a problem. Your motorcycle was stolen. “How much can I get from insurance?” is probably going to be the first question on your mind. And it all depends upon the type of policy that you have taken out on your motorcycle. So, before you get into a theft situation, you will want to review your insurance policy.
The first thing that anyone who is interested in buying a motorcycle should know is that if your bike is stolen, they are rarely recovered. And because of this, motorcycle insurance is extremely important for bikes that are being used as a primary mode of transportation. They are not recovered because the thieves are very savvy and work fast. Most stolen motorcycles never stay intact for long. Instead, they are stripped and the parts are used to build other bikes.
The only way that you can get most of the cost of the bike back in the event that it is stolen is to buy a comprehensive motorcycle insurance policy. This will cover you for any damages that are caused by collision, vandalism, fire, or theft. But remember that you will only get the Blue Book value of motorcycle at the time that it is stolen if you have a basic policy. Custom parts, paint, or trailers and sidecars are not covered under most insurance plans. If you want all of these things covered by your policy, you will want to choose a comprehensive custom motorcycle insurance which will compensate you for the costs of the additional customization. You can also take a comprehensive plan and ask about option equipment coverage to supplement your existing motor cycle insurance policy.
In order to keep your bike safe and prevent someone from even trying to steal it, you will want to take some precautions when you are leaving your bike alone. First, you always want to store it in a locked garage. Never leave it out on the street when you don’t have to. You will also want to lock the motorcycle to a stationery object, even if it is in a garage. This will make it harder for anyone to steal. And finally, you will want to install some type of anti-theft device or alarm on your bike so the thieves will easily get caught red-handed or be deterred from stealing it.
With the right coverage, you will easily be able to protect yourself from motorcycle theft and if it occurs get the right amount of compensation from the insurer.
Can we add parents (vehicle owners) from separate household to our insurance policy?
I’m pretty sure I know the basic answer to this…but thought I’d ask. We have two completely separate households, they own their cars we own ours…our names are not on their car titles and their names are not on ours. I don’t think we can…but we have full coverage on a motorcycle in Mom’s name…but she cannot drive it at all. Is that what makes the difference….the owner’s ability to drive it? Thanks
Oh, the company is State Farm
Your auto policy only covers your cars, but you can add as many drivers as you want, to that policy.
The name on the title, plates, and insurance all have to MATCH, regardless of who’s driving the vehicle. Clearly, the motorcycle is titled to mom.
The owners ability to drive it is completely irrelevant – blind people can own and insure cars, that they flat out can’t drive.
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