Does insurance reimburse you for mods? - Sportbike Forum: Sportbike Motorcycle Forums
 
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post #1 of 10 (permalink) Old 09-15-2005, 08:23 PM Thread Starter
 
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Question Does insurance reimburse you for mods?

Thankfully it hasn't happened to me and I hope it never does, but.. In the event that your bike is stolen does the insurance company replace your bike and reimburse you for any mods such as: frame sliders, security systems, radar detectors, custom paint, or exhaust systems?
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post #2 of 10 (permalink) Old 09-15-2005, 08:33 PM
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No.

If you advise the company of your modifications (be careful, if they are performance mods they may cancel you or add a surcharge to your premium), and provide proof of what they cost, you may be able to add a rider to your policy, for a price.

I have a rider on my M6 and my truck for all the aftermarket stereo equipment, over $3000 in each rig, it cost about $100 each for the rider.

I do not tell the company on my bikes because I don't want the rates raised, and my policy covers $1000 of accesories anyway. Now, the $2400 engine modification on my ZR1100, I don't think they will pay for that if the bike gets stolen.

Fuster

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post #3 of 10 (permalink) Old 09-15-2005, 09:40 PM
 
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Insurance companies are not your friend. They do not want to offer you more coverage and be helpful, they want to take your money and leave you crying.

Don't tell them anything you don't have to. They will raise your rates so high you'll think Denver was sea level.
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post #4 of 10 (permalink) Old 09-15-2005, 09:54 PM
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Wow, someone has had a painful experience with insurance companies.

Fuster

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post #5 of 10 (permalink) Old 09-15-2005, 10:13 PM
 
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when my bike got totalled, the other persons insurance payed me for my mods, and the new tires i had put on the week befor, and my gear that got ruined. They did not want to but i told them they were gonna, or see me in court, they cannot win in court, and they don't wanna spend the money goin.

Be stern, but don't go overboard, get what is fair, don't take less.
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post #6 of 10 (permalink) Old 09-15-2005, 10:33 PM
 
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Quote:
Originally posted by fuster
Wow, someone has had a painful experience with insurance companies.
Yeah, well it may have something to do with being a male under the age of 85 who lives in a metropolis which holds the number one spot for both red light running and auto theft, Mr. "I live in Seattle".
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post #7 of 10 (permalink) Old 09-16-2005, 04:47 AM
 
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Save your receits. The insurance is going to try to wiggle out of paying for them anyway they can. But they can be made to pay. Especially if you are not at fault, and they are looking at a very severe lawsuit... Just dont take no for an answear. Threaten them with whatever you can. You gotta be really aggressive with the adjusters...



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post #8 of 10 (permalink) Old 09-16-2005, 12:41 PM
 
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i found a good shop, and they listed every single part i had when i totalled my bike, the aftermarket dampener, aftermarket blinkers, frame sliders, everything. it ended up being totalled, but if they woulda fixed it they woulda had to pay for it cause it was on the parts list. so just find a good local shop you trust that will do insurance work. the shop i go to is a little shop but they do excellent work.
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post #9 of 10 (permalink) Old 09-16-2005, 12:53 PM
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Insurance companies will pay you for the cost of the bike ONLY.

If you have extras added on, such as frame sliders (which actually help prevent damage to costly plastics, they like that), a new pipe, etc, take your work order (if you have one) and the receipt to your local agent and have them copy the reciepts and take pictures and have it all put in your file.

The reason that companies only cover the bike (or car) without documentation is because of rampant fraud.

Call your company and find out what their policy/requirements are for aftermarket items, that way you're in compliance with their rules should something happen.



"I often wonder why I talk to you, then I realize, although you put me down, you do it with love." - Jester
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post #10 of 10 (permalink) Old 09-16-2005, 02:12 PM
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Quote:
Originally posted by sidewaysducati
Yeah, well it may have something to do with being a male under the age of 85 who lives in a metropolis which holds the number one spot for both red light running and auto theft, Mr. "I live in Seattle".
Tacoma has Seattle beat hands down for how many cars go thru a light after it turns red. (I live in Auburn, but lived in Tacoma for 12 years - the rates are higher there).

Fuster

"...If you can meet with triumph and disaster, and treat those two imposters the same....you'll be a Man, my Son!"

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