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Raleigh/Durham, NC
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Roostermx58
2/9/2016 8:38am
2/9/2016 8:38am
Edited Date/Time
2/10/2016 9:48am
With all the criminals in the world and the recent increase in these types of thefts, why don't people insure their bikes? Progressive offers very good rates for a piece of mind. People spend all their money on upgrades for their bikes but don't insure them. Thieves are never going to stop taking whats not theirs so why not take some action before it happens to you? You pay insurance on your car, life, and house, correct?
I ask because I have never insured a bike before, and for over $300 a year I want to be dam sure I'm getting everything I think I'm paying for. The reason I haven't insured mine yet is everywhere I've called basically treats it like a road bike, I need full road coverage to get anything in the event something happens to it in the back of my truck, then on top of that I would need fire and theft protection as well. The thing that really drives up the cost is the personal liability coverage (essentially if I ran into someone and they got hurt), which isn't really applicable to an off-road bike, that drives the premium up over $100 for something I don't need. If I didn't have to pay for that I'd probably pull the trigger, I don't understand why you can't custom fit a policy to cover exactly what you need.
96 cr250 -
$36 a year. Plus 5000 accessory aftermarket coverage for $8 more.
06 yz 125 -
$71 a year $8000 aftermarket accessory coverage
08 yz 125-
$48 a year $3000 aftermarket coverage included.
My 06 and cr have a lot of restore and mod work so that's why i cover them for 5000 and 8000. The 08 yz is basically stock. I don't have 3000 in recent parts anyway.
I've made a claim with progressive before. Of course it's a hassle at first but 30 days after your claim they cut you a check. And if you buy a new unit within 30 days from the check, they cut you another check for the taxes on the new unit. 1 claim will pay your premiums for years and years. I was paid out 6500 on my 08 yz250 in 2012. (Accessories/after markets covered up to 5,000) they valued my bike at 1500. So 1500+5000 = 6500. You need receipts to back up your accessories. But if you have them they pay!
CLAIMS DO NOT PAY IF STOLEN FROM A SANCTIONED RACING OR SWAP MEET EVENT. So, make sure you know that. I still lock my bikes up at the track when I walk away. I trust nobody anymore.
We just had a kid get shot and killed off his brand new Raptor 700 he bought the day before and took it to the local wheelie boy drag race hang out location. They shot him, left him on the street and took his brand new Raptor. Right in front of a bunch of people.
That next day I was driving home on a major road in the city and had 4 wheelie boys pass me doing wheelies and there were 3 Troopers on the side of the road and they did absolutely nothing. These guys are all thieves. They kill and steal, or they go on Craigslist and look at your bike and go back the next day and steal your bike out of your garage or they might even kill you on the spot.
Miami, see it like a Native.
The Shop
At these rates why would anyone not have theft ins. in this day and age.
Just like home security systems by the time the company calls the police and they respond Thieves are long gone.
I don't know how some of you guys are getting such low rates though, is age a factor in theft insurance as well for some reason? I can see from a personal liability standpoint, but for theft how does someone's age make any difference? I'll check out the company someone else mentioned, I'm tired of the others just treating it like a damn road bike.
Pit Row
I could see while you are at a sanctioned event not being covered.
There is a riding area near here in Maryland where some people showed up with automatic weapons and took the bikes, then got in a highway shootout with police. That was a few years back.
Why is there no GPS security system for bikes, similar to Lojak? It would be easy enough to do!
What worked for me was pictures of my broken window, and where my bike used to sit. If your stuff is stolen take a lot of pics and cover your ass from the get go.
My bikes arent insured and I worry everyday that they will get stolen. I did an online progressive quote but it was only giving me options for road legal stuff so I got pissed and gave up. I want to go to an office and actually talk to an agent so I don;t have to speculate about the coverage.
Progressive spends a ton on advertising and are probably the most known for bike insurance. There are other companies out there (better ones imo). I would suggest Foremost and you can go into any Farmers Insurance agency and talk to an agent about coverages. I'm biased as I have them and work for Farmers. I worked too hard to pay for my bike only to get it stolen and left with nothing.
Now if i didn't have the means, the time, connections and energy like many people don't to fight the lies, then they would of got away with robbery.
Being nice had nothing to do with it, as i never even met the adjusters. The whole deal was a mess. They had my claim denied before i even talked to them. And they deny hoping you just crawl in your little hole and go away
For me, I don't think theft is even at the 1% range and I'm not that risk averse that I'd pay for insurance to cover that chance. This is unlike health insurance risk aversion where I will definitely pay to avoid the small chance of paying a lot of money.
Then again, I live in WI. Obviously different decision for other places.
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