I am going to bump up my insurance coverage this year. I have a lot of expensive parts on my bike. I need to come up with a accessories coverage total for my insurance company.

What are some of the things covered on your bike and how detailed should I get with them ?

 

My insurance just uses a dollar amount above and beyond the $2500.00 that is included.

Adding several thousand dollars only cost a couple of bucks on the policy.

 

I just recently bumped mine up from the $3,000 standard to $8,000. Be sure to have proof of purchase price (invoice on paper or electronic) for your records. I would include anything that cost you over $100 is how I did it. I claimed my paint job, aftermarket rims, apes w/ new lines, aftermarket seat, batwing fairing, crash bar, etc. So your bigger ticket items, any aftermarket part I put on my bike that was $100 or above I added into the calculation and have the paperwork to prove the costs. Going up $5,000 for aftermarket parts coverage bumped my monthly payment up $8 a month.

 

My policy is a straight dollar for dollar amount above the replacement cost of the stock bike. I gave my agent an Excel spreadsheet that itemizes every additional part I put on my bike. Part name, Part number, Supplier, Cost and labor for installation (had a heart attack when I saw the bottom line). They gave me a quote for how much this additional coverage would cost and it is now a rider on my policy. My camping trailer is also covered under this rider.

 

it varies by ins company and State.

ask your insurance writer/broker/ agent for expert advice and pricing

some policies incl. some coverage.

some just use an "agreed value"

always good to keep records of parts installed, cost or part and labor charges

mike

 

All good advice here and things will vary by state and insurance carrier. Do your homework and have everything documented before that accident that will never happen. After an accident, or worse when bike is stolen is not the time to start putting together a list of accessories you installed.

Keep copies of all receipts especially for the higher ticket items. Keeping good records and receipts is good, but I'd go one step further and photograph the bike with the accessories installed. Pictures from every angle, showing all of the accessories is another piece of cheap insurance. Print them out if you want hard copies, but keep the digital photos in a safe place so they can be e-mailed to your adjuster or carrier for their electronic files.

It's the old an ounce of prevention routine, better to have it and not need it than try to reconstruct everything once the bike is damaged or stolen. Like the OP stated, is is pretty eye-opening when you total up all of those $40 and $50 parts we install. You may have a lot more invested in the bike than you think.

 

Bingo! We hava winna!

 

Thx for the advice,
I will take get some photos and paper trail for the insurance company.

Milton

 

I have always kept every recipt for every thing
that I have had done to or put on my bike and
they are covered by dearyland insurance I am
paying a little over 1200.00 a year for my bikes
insurance. Oh and by all means read your insurance
policy and make sure they DO NOT screw you should
something bad happen. Ask me how I know this !!!

 

Does anybody include engine work in their insurance? I know back in the day we keep everything hush hush when we were building street cars.