Motorcycle Insurance Articles
How To Locate Insurance Quotes For Customized Motorcycles
2010-06-22
There are so many insurance companies and types of insurance that getting insurance quotes for customized motorcycles is easy. Most companies offer this coverage with but a few restrictions.
Customized motorcycles are a tradition. The lone rider image features a rugged individual astride his custom bike with a matching helmet. Awesome paint jobs, wild chrome accessories, and streamlined fairings transform a bike into a personalized piece of armor. Unfortunately, that personalization is hard to find quantified in a blue book, which means you need to document and insure your customizations individually.
Most of the larger insurance companies have a clause in their basic comprehensive policy that covers one thousand dollars worth of Custom Parts and Accessories (or CPEs) for bikes that are less than twenty-five years old and have a listed resale value. A customized motorcycle policy will allow coverage of far more of your modifications.
To an insurance company, a customized motorcycle is not the same as a custom motorcycle. In other words, a customized motorcycle was made by a known manufacturer and has had changes made to enhance it mechanically or cosmetically. It has the original frame and a VIN number assigned at the point of manufacture. A custom motorcycle has been made from a kit, for example, or has a state-issued VIN number. It might only use part of the original frame, such as an extreme chopper. Customized bikes can be insured while custom bikes cannot be covered under a customized motorcycle policy.
When you customize your motorcycle, save all your receipts. Take before and after photos of the upgrades. Get an appraisal of your bike by your underwriter if possible. You can add up to thirty-thousand dollars worth of coverage for Additional Custom Parts and Equipment if your bike is less than twenty-five years old, provided your bike was made by a major motorcycle manufacturer.
To determine the value of your customized motorcycle, your insurance company will use either the actual cash value or an agreed value. After that, the customizations are paid on a purchase price/replacement basis until the coverage limit has been reached. Either of these methods will have a settlement that is reduced by the amount of the policy's deductible.
Never assume that your customized bike is covered by your collision coverage. Each time you upgrade your bike, ask your insurance agent if you need to buy extra coverage, even if it's just a brilliant new paint job or gas tank. Customizations are expensive and you need to protect your investment. Be sure to shop around for insurance quotes and find a customized motorcycle policy to keep your motor running well.