Preventive action - Stolen Bikes

mxb2
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mxb2 2/9/2016 12:52pm
2/9/2016 12:52pm
Berm wrote:
I look at it this way, lets say you pay $8k for a new bike (or used plus extras). If insurance is $160 a year, that's...
I look at it this way, lets say you pay $8k for a new bike (or used plus extras). If insurance is $160 a year, that's 2% of the cost of the bike. Do you think there is a 2% chance your bike will be stolen in the first year?

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.
My buddy said the same thing also, 2 stolen bikes later, no insurance, no bikes, may aswell throw 15k out the window. Foolish.
mxb2
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mxb2 2/9/2016 12:53pm
2/9/2016 12:53pm
GeorgiePorgie wrote:
I have 4 bikes insured theoufg progressive for 212 a year. One of which is a victory kingpin 8ball cruiser at full coverage. 96 cr250 -...
I have 4 bikes insured theoufg progressive for 212 a year. One of which is a victory kingpin 8ball cruiser at full coverage.

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.
motoXracer971 wrote:
I just got a quote from them yesterday for my '16 450SX-F and they want $662/yr. I'm still looking around but that seems expensive in comparison...
I just got a quote from them yesterday for my '16 450SX-F and they want $662/yr. I'm still looking around but that seems expensive in comparison to what you are paying, and still cheaper than buying a new bike... I wish ppl would just stop being assholes and stealing other ppls things!
So you have a 10k toy and $680 for piece of mind is expensive? Lol.
aeffertz
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Eau Claire, WI US
aeffertz 2/9/2016 1:01pm
2/9/2016 1:01pm
If I lived in a bigger city or had a factory rig, I think I'd be putting a GPS tracker in a very inconspicuous spot on the bike in the event it gets stolen. They are small and light enough these days, it's not going to rob your performance at all and you can tuck it away practically anywhere. Unless the thief completely tears down the bike immediately and finds/discards the tracker, you'll be able to get it back no problem.

Even if it were to come to a face to face, fast paced "give me the bike or else" type of deal, you can at least fall back on that.

Luckily for me, I think me and my family are the only ones in the 4,000 population town that knows what a race bike is. Grinning

Here's another great video I saw recently regarding locks. Very informative and surprisingly there's a huge difference in security for roughly the same price. Great into to know and possibly switch out your padlock you use to lock up your trailer/bikes/whatever.

honda123
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honda123 2/9/2016 1:43pm
2/9/2016 1:43pm
I pay 320 a year for a 16 crf450 insured for 18,000 (A-kit suspension is why I have it insured for so much)

September last year my family had 9 bikes stolen, my 2 both having A kit suspension in them, and scums would've been in my shed working on my bike too get it going too take, it had no back wheel and no front sprocket and chain on, took brand new chain and sprocket off bench put it on and took it along with all the others, so I'm not taking the chance of not insuring my bikes again

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crusher773
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crusher773 2/9/2016 2:55pm
2/9/2016 2:55pm
honda123 wrote:
I pay 320 a year for a 16 crf450 insured for 18,000 (A-kit suspension is why I have it insured for so much) September last year...
I pay 320 a year for a 16 crf450 insured for 18,000 (A-kit suspension is why I have it insured for so much)

September last year my family had 9 bikes stolen, my 2 both having A kit suspension in them, and scums would've been in my shed working on my bike too get it going too take, it had no back wheel and no front sprocket and chain on, took brand new chain and sprocket off bench put it on and took it along with all the others, so I'm not taking the chance of not insuring my bikes again
You better read your policy. If it gets stolen you aren't going to get 18K. I bet anything it is an ACV policy on the bike. 18k might be the maximum but that doesn't guarantee that is what will be paid out.
Underdog999
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Underdog999 2/9/2016 4:08pm
2/9/2016 4:08pm Edited Date/Time 2/9/2016 4:10pm
ob wrote:
Insurance company's are just scam artists. I pay what I have to as required by law and the law does what the insurance company's tell them...
Insurance company's are just scam artists. I pay what I have to as required by law and the law does what the insurance company's tell them to do. Fucking bullshit. Why offer insurance and take money for that insurance when they won't pay because a race bike has been raced.
I agree with you! Insurance companies are horrible. They try everything to NOT pay! I was in a horrible car accident, where I nearly broke my neck. The other insurance company wouldn't pay. Not a cent. The only way I could get any money for my hospital bills was to sue..... and people say lawyers are bad. They make you get a lawyer just to get your money!

Heaven forbid you don't pay your policy, they would be all over you in a heartbeat!
86honda
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86honda 2/9/2016 5:08pm
2/9/2016 5:08pm
chain with an alarm on it. Its called a dog
racerx217
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racerx217 2/9/2016 5:10pm
2/9/2016 5:10pm
racerx217 wrote:
Progressive and everyone else i have ever read the underwriting on do not insure race bikes. They will simply take your money and when it comes...
Progressive and everyone else i have ever read the underwriting on do not insure race bikes. They will simply take your money and when it comes up missing if they can prove you raced it or used it in preparation to race your insurance is null and void. If you only trail ride and only do open practice days and have no numbers, they will go as far as they need to go to prove it was raced just a fyi (facebook pictures, district results, reginal LL results ect) That's why people don't insure them.
GeorgiePorgie wrote:
True story. My adjuster asked me why I was racing the next weekend on the same bike ? I told him it was my 125 that...
True story. My adjuster asked me why I was racing the next weekend on the same bike ? I told him it was my 125 that looked identical. Which it was. They called malvern Mx park and asked them if I ever crashed my 250 beyond repair. There job is NOT to pay, and boy do they do their research. They haggled me and threatened to get me for fraud. But at the end they had to pay. Bike was stolen from my garage. Not at a RACE event. My bike isn't exclusively a race bike. I usually practice and ride on public land but sometimes would race the machine, but not for money. Progressive even said it was bulkshit becuse the police report said no forced entry. Which was bullshit because cop filled report out wrong. So I had to fix everything. Apparently they won't pay a claim if your door is unlocked or garage door left up. Must be forced entry? That the only reason I can figure out why they hounded me over that! But looking through my claim literature I couldn't find anything that mandated a theft be through forced entry.

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.
crusher773 wrote:
No it's our job to pay. When questions come up about some things and we get some indicators it's our job to make sure we aren't...
No it's our job to pay. When questions come up about some things and we get some indicators it's our job to make sure we aren't paying fraudulent stuff. So much fraud happens it makes it worse on everyone honest. We have to do our jobs and cover ourselves investigating stuff or else we won't have jobs. It's just the way the world is there are so many people that try and cheat the system.
You must not work for progressive, they will basically treat you like a criminal and threaten to file fraud charges when things are not going their way. Been there done that no i just lock my shit up like no ones business. I would like to see your company underwriting where it states they cover race bikes just not when they are involved in racing on race days.
coastlinecascott 2/9/2016 5:28pm
2/9/2016 5:28pm
I keep several heavy chain locks on three bikes together and to my trailer in the garage. If i use my trailer i lock them to one 1000 pound tool boxes. I live in a great neighborhood. Still cant take chances.
TeamGreen
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TeamGreen 2/9/2016 5:37pm
2/9/2016 5:37pm
A cable, a lock, a scarey lookin' dog and at some events an enclosed trailer.

For back up, I recommended a Glock 19.
coastlinecascott 2/9/2016 5:48pm
2/9/2016 5:48pm
My next purchase is a security camera system from Costco. I think it was 400 or something 720p. My neighbor has one with the camera pointing at car level down the street. I live on a cul de sac. Only one time i saw 2 sketchy Mexican guys driving down the street. Asked them questions, when they got smart i informed them of multiple cameras and angles of all cars going up and down our street. Never seen them again.
fisher725
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fisher725 2/9/2016 5:55pm
2/9/2016 5:55pm
racerx217 wrote:
You must not work for progressive, they will basically treat you like a criminal and threaten to file fraud charges when things are not going their...
You must not work for progressive, they will basically treat you like a criminal and threaten to file fraud charges when things are not going their way. Been there done that no i just lock my shit up like no ones business. I would like to see your company underwriting where it states they cover race bikes just not when they are involved in racing on race days.
I've heard countless bad stories about Progressive yet everyone seems to go to them. Again, I wouldn't recommend them. crusher does not work for them. I can assure you that Foremost covers race bikes just not while racing. I lock my stuff up but still couldn't get myself to go without insurance on my new bikes.
Berm
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Berm 2/9/2016 6:00pm
2/9/2016 6:00pm
Berm wrote:
I look at it this way, lets say you pay $8k for a new bike (or used plus extras). If insurance is $160 a year, that's...
I look at it this way, lets say you pay $8k for a new bike (or used plus extras). If insurance is $160 a year, that's 2% of the cost of the bike. Do you think there is a 2% chance your bike will be stolen in the first year?

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.
mxb2 wrote:
My buddy said the same thing also, 2 stolen bikes later, no insurance, no bikes, may aswell throw 15k out the window. Foolish.
That's your buddy's problem then, not mine. After having the first one stolen he needs to update his beliefs.
After 20 years of owning bikes without any issue I think I'm doing okay. Hell, I've saved enough to buy 3 bikes. You continue on insuring at over priced rates and throw 3 bikes out the window around here, foolish.
Canadad
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Canadad 2/9/2016 6:26pm
2/9/2016 6:26pm
Canadad wrote:
Alarm getting installed in my trailer this afternoon
GeorgiePorgie wrote:
What the hell do alarms do? Thieves are in and out in less than two minutes. Just like home security systems by the time the company...
What the hell do alarms do? Thieves are in and out in less than two minutes.

Just like home security systems by the time the company calls the police and they respond Thieves are long gone.
My Rottweiler will be there in less than 1
racerx217
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racerx217 2/9/2016 6:33pm
2/9/2016 6:33pm
racerx217 wrote:
You must not work for progressive, they will basically treat you like a criminal and threaten to file fraud charges when things are not going their...
You must not work for progressive, they will basically treat you like a criminal and threaten to file fraud charges when things are not going their way. Been there done that no i just lock my shit up like no ones business. I would like to see your company underwriting where it states they cover race bikes just not when they are involved in racing on race days.
fisher725 wrote:
I've heard countless bad stories about Progressive yet everyone seems to go to them. Again, I wouldn't recommend them. crusher does not work for them. I...
I've heard countless bad stories about Progressive yet everyone seems to go to them. Again, I wouldn't recommend them. crusher does not work for them. I can assure you that Foremost covers race bikes just not while racing. I lock my stuff up but still couldn't get myself to go without insurance on my new bikes.
I will have to check into it, i have had liberty mutual, Farmers, and progessive tell me no insurance what so ever on race bikes. But if they will cover it i would be down for sure to get them insured.
mxb2
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mxb2 2/9/2016 6:45pm
2/9/2016 6:45pm
Berm wrote:
I look at it this way, lets say you pay $8k for a new bike (or used plus extras). If insurance is $160 a year, that's...
I look at it this way, lets say you pay $8k for a new bike (or used plus extras). If insurance is $160 a year, that's 2% of the cost of the bike. Do you think there is a 2% chance your bike will be stolen in the first year?

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.
mxb2 wrote:
My buddy said the same thing also, 2 stolen bikes later, no insurance, no bikes, may aswell throw 15k out the window. Foolish.
Berm wrote:
That's your buddy's problem then, not mine. After having the first one stolen he needs to update his beliefs. After 20 years of owning bikes without...
That's your buddy's problem then, not mine. After having the first one stolen he needs to update his beliefs.
After 20 years of owning bikes without any issue I think I'm doing okay. Hell, I've saved enough to buy 3 bikes. You continue on insuring at over priced rates and throw 3 bikes out the window around here, foolish.
True. His problem, but hearing him complain about no bike became my ears problem. I insure mine for piece of mind, your bikes , your choice. Doesnt affect me. But the go fund me accounts started for stolen bikes,no insurance is plain ignorance.
crusher773
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crusher773 2/9/2016 6:52pm
2/9/2016 6:52pm Edited Date/Time 2/9/2016 6:55pm
GeorgiePorgie wrote:
True story. My adjuster asked me why I was racing the next weekend on the same bike ? I told him it was my 125 that...
True story. My adjuster asked me why I was racing the next weekend on the same bike ? I told him it was my 125 that looked identical. Which it was. They called malvern Mx park and asked them if I ever crashed my 250 beyond repair. There job is NOT to pay, and boy do they do their research. They haggled me and threatened to get me for fraud. But at the end they had to pay. Bike was stolen from my garage. Not at a RACE event. My bike isn't exclusively a race bike. I usually practice and ride on public land but sometimes would race the machine, but not for money. Progressive even said it was bulkshit becuse the police report said no forced entry. Which was bullshit because cop filled report out wrong. So I had to fix everything. Apparently they won't pay a claim if your door is unlocked or garage door left up. Must be forced entry? That the only reason I can figure out why they hounded me over that! But looking through my claim literature I couldn't find anything that mandated a theft be through forced entry.

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.
crusher773 wrote:
No it's our job to pay. When questions come up about some things and we get some indicators it's our job to make sure we aren't...
No it's our job to pay. When questions come up about some things and we get some indicators it's our job to make sure we aren't paying fraudulent stuff. So much fraud happens it makes it worse on everyone honest. We have to do our jobs and cover ourselves investigating stuff or else we won't have jobs. It's just the way the world is there are so many people that try and cheat the system.
racerx217 wrote:
You must not work for progressive, they will basically treat you like a criminal and threaten to file fraud charges when things are not going their...
You must not work for progressive, they will basically treat you like a criminal and threaten to file fraud charges when things are not going their way. Been there done that no i just lock my shit up like no ones business. I would like to see your company underwriting where it states they cover race bikes just not when they are involved in racing on race days.
I did nothing but motorcycles for Foremost for 6 years. They exclude racing just like everyone else does but the language in the policy is very vague. They cover it unless they have you on race results the day it happened. That is the only way they can nail it down and for sure say it was you. I had some where I knew the dude crashed it in the morning practice session the day of the race and I couldn't deny it because he was practicing at that point and not racing. Again that is one of those deals where someone was trying to use it to cheat the system. For normal people who use it how it should be used for race bikes like when it is stolen, is in a fire or is trashed while being hauled. Bo issues at all, paid them all the time.
racerx217
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racerx217 2/9/2016 6:58pm
2/9/2016 6:58pm
crusher773 wrote:
No it's our job to pay. When questions come up about some things and we get some indicators it's our job to make sure we aren't...
No it's our job to pay. When questions come up about some things and we get some indicators it's our job to make sure we aren't paying fraudulent stuff. So much fraud happens it makes it worse on everyone honest. We have to do our jobs and cover ourselves investigating stuff or else we won't have jobs. It's just the way the world is there are so many people that try and cheat the system.
racerx217 wrote:
You must not work for progressive, they will basically treat you like a criminal and threaten to file fraud charges when things are not going their...
You must not work for progressive, they will basically treat you like a criminal and threaten to file fraud charges when things are not going their way. Been there done that no i just lock my shit up like no ones business. I would like to see your company underwriting where it states they cover race bikes just not when they are involved in racing on race days.
crusher773 wrote:
I did nothing but motorcycles for Foremost for 6 years. They exclude racing just like everyone else does but the language in the policy is very...
I did nothing but motorcycles for Foremost for 6 years. They exclude racing just like everyone else does but the language in the policy is very vague. They cover it unless they have you on race results the day it happened. That is the only way they can nail it down and for sure say it was you. I had some where I knew the dude crashed it in the morning practice session the day of the race and I couldn't deny it because he was practicing at that point and not racing. Again that is one of those deals where someone was trying to use it to cheat the system. For normal people who use it how it should be used for race bikes like when it is stolen, is in a fire or is trashed while being hauled. Bo issues at all, paid them all the time.
Are we talking crash damage? Medical payments due to crash? or are we talking if it were to get stolen on a day that it was raced? For example say you were on your way home stopped for something to eat, got back out from eating and someone yanked it from the back of your truck/trailer?

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crusher773
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crusher773 2/9/2016 7:02pm
2/9/2016 7:02pm Edited Date/Time 2/9/2016 7:04pm
Covered, not a problem. I am talking crash damage both to the bike and medical is excluded. Its hard to nail that down unless they have you on results. The first thing that is done when we see it is a race bike is start googling names and looking for results. If you have them on the results that day and it's a crash then you start calling track owners and stuff to get the truth since it usually isn't given up front like it should be. It could be stolen from the track like the ones down in Houston. Still wasn't being raced when it happened, covered loss. I was really the guy in the office that knew where to look to find stuff like this, most of them don't even know the difference and wouldn't check it out like I did.
racerx217
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racerx217 2/9/2016 7:32pm
2/9/2016 7:32pm
That is a very different perspective and probably how it should go down. I had a situation with Progressive a few years ago on a supplemental medical claim that happened at a private practice track. One of the worst things I have ever dealt with as far as insurance goes. If that is how its supposed to be i will insure my bikes, just not through them.
fisher725
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fisher725 2/9/2016 7:44pm
2/9/2016 7:44pm
racerx217 wrote:
Are we talking crash damage? Medical payments due to crash? or are we talking if it were to get stolen on a day that it was...
Are we talking crash damage? Medical payments due to crash? or are we talking if it were to get stolen on a day that it was raced? For example say you were on your way home stopped for something to eat, got back out from eating and someone yanked it from the back of your truck/trailer?
You should have Collision and Comprehensive coverage. Collision is just what it sounds like. For example you roll your truck with the bike in the back. Comprehensive is stuff like fire, theft, vandalism, water, flood. I'm not sure that you can get medical payments on a motorcycle policy. Typically a policy excludes wear and tear, freezing, mechanical or electrical breakdown as well as organized or agreed upon racing.
Getndome
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Getndome 2/9/2016 7:57pm
2/9/2016 7:57pm
A grenade attached underneath the tank with some fishing line tied to the pin
Matt Fisher
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Matt Fisher 2/9/2016 10:01pm
2/9/2016 10:01pm
TeamGreen wrote:
A cable, a lock, a scarey lookin' dog and at some events an enclosed trailer.

For back up, I recommended a Glock 19.
Yep. Add to that being in a good neighborhood if possible.

Perfectly acceptable alternatives to the Glock would be a 12 gauge, AR15, 1911, CZ75, Sig, S&W .357, or any other manner of click n bang devices.
GeorgiePorgie 2/10/2016 9:27am
2/10/2016 9:27am Edited Date/Time 2/10/2016 9:31am
GeorgiePorgie wrote:
True story. My adjuster asked me why I was racing the next weekend on the same bike ? I told him it was my 125 that...
True story. My adjuster asked me why I was racing the next weekend on the same bike ? I told him it was my 125 that looked identical. Which it was. They called malvern Mx park and asked them if I ever crashed my 250 beyond repair. There job is NOT to pay, and boy do they do their research. They haggled me and threatened to get me for fraud. But at the end they had to pay. Bike was stolen from my garage. Not at a RACE event. My bike isn't exclusively a race bike. I usually practice and ride on public land but sometimes would race the machine, but not for money. Progressive even said it was bulkshit becuse the police report said no forced entry. Which was bullshit because cop filled report out wrong. So I had to fix everything. Apparently they won't pay a claim if your door is unlocked or garage door left up. Must be forced entry? That the only reason I can figure out why they hounded me over that! But looking through my claim literature I couldn't find anything that mandated a theft be through forced entry.

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.
crusher773 wrote:
No it's our job to pay. When questions come up about some things and we get some indicators it's our job to make sure we aren't...
No it's our job to pay. When questions come up about some things and we get some indicators it's our job to make sure we aren't paying fraudulent stuff. So much fraud happens it makes it worse on everyone honest. We have to do our jobs and cover ourselves investigating stuff or else we won't have jobs. It's just the way the world is there are so many people that try and cheat the system.
racerx217 wrote:
You must not work for progressive, they will basically treat you like a criminal and threaten to file fraud charges when things are not going their...
You must not work for progressive, they will basically treat you like a criminal and threaten to file fraud charges when things are not going their way. Been there done that no i just lock my shit up like no ones business. I would like to see your company underwriting where it states they cover race bikes just not when they are involved in racing on race days.
The guy in charge of my claim was very nice at first and then dropped a bomb shell on me.


How the conversation went down....maybe not exact quotes, but this is pretty close to the conversation ver batum.
Agent:"Why didn't you tell me about your other motorcycles?"

Me:"Well I can send you a picture of both them side by side if you'd like....."

Agent: "Yes, do that."

Agent: "You lied to me by not telling me about your other motorcycles, can you see why I think your claim is fishy?"

Me: "So lieing, is now me just not telling you that I have other bikes, that aren't insured with you in the first place? It's none of your business if I have a garage full of bikes and only have one insured, and the one that got stolen is the one that was insured."

I finally said,
"Look, I bought a policy from you--paid my premiums--and in good faith expect you follow through with the policy terms given I have provided a police report of forced entry, and pictures of my house being vandalised in order for the thief to get the bike."

Like I said, after they called the OMA and asked them if I raced my 250, and If I crashed it, and all other possibilities of fruad they finally paid. Crusher is right, it really gets you nowhere to be a complete asshole to them, just try to be as professional as possible, and at the end of the day realize all the jackass fraud claims they must deal with on a weekly basis. But if you do you everything legally, you will get paid on your policies. Especially if they're jacked from your house or transport vehicle.

The literature clearly states the losses aren't covered if your machine was stolen from sanctioned racing event. So you guys need to lock your shit up at the track. Just dropping the EZ up down over them isn't enough.


And to me $212/year is worth it if it gives me a shot of getting paid for my stolen stuff. If it doesn't get paid I'm out a bike and $212, but if I didn't buy the coverage i'm definitely out a bike with no way to even try to make a claim. Obviously progressive can't be that bad, otherwise I wouldn't continue to insure my stuff with them. It just can be a hassle.
moto320
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moto320 2/10/2016 9:48am
2/10/2016 9:48am
I recently added my 15 yz250f to my existing motorcycle insurance ( geico) for my Harley. With the multi bike discount it cost me $35/ year with a $250 deductable . They confirmed it is covered no matter where the bike is when it gets stolen . I'm sure they won't give me nearly what it's worth if it happens but atleast i will get money to put towards something else .I think for $35/ year it's well worth it. It was pretty funny when i got an insurace card in the mail for it .

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