Author Topic: Do you guys have theft insurance??? (Read 2243 times)

Lumbee · « **on:** January 17, 2006, 07:08:42 AM »

I've had my 750 about 9 months now. When I first got insurance I got only liability which was a steal at about $150 per year. In the mean time I've been working on my chop, and have also managed to whip my stocker into a fairly realiable daily rider. So I called yesterday to add my chop to the policy and I ask about theft. I ask for a quote that would cover me for about $1500 on each bike. They quoted me $600 a year for both bikes, as opposed to $250/yr for just liability. I declined.

How much insurance do you guys have?

Would somebody acutally steel one of these old bikes? My chopper is more "street fighter" than "bling-bling", so no worries there, but you never know.

Dave Wyatt · « **Reply #1 on:** January 17, 2006, 07:27:42 AM »

I keep comprehensive coverage as well as liability and unisured/under insured, but no collision on my bike. Comprehensive covers fire, theft, etc. We have a lot of deer running wild and a collision with a deer is covered under that section as well. Last I knew it was about 250 - 300/year, but I get a small multiple vehicle discount as well.

Paul · « **Reply #2 on:** January 17, 2006, 09:17:08 AM »

Where I am, We have the option of 3rd Party, Fire & theft. or fully Comprehensive.
Usually F&T is only about €30 Extra, So If you crash it,
torch it. "Honestly..I was riding along and it burst into flames and that's how I crashed...I don't know how the oily gas soaked rag got in there

Uncle Ernie · « **Reply #3 on:** January 17, 2006, 11:46:45 AM »

5 bikes and a car- liability and uninsured only. Interesting loophole, though; they only pay uninsured if you get a license number. "Hit and run"- you're out of luck.

brockj · « **Reply #4 on:** January 17, 2006, 12:33:17 PM »

I have liability only, guess there are some advantages to being in the great white north, I don't even have my license (permit only) and I pay $116 a year!

SteveD CB500F · « **Reply #5 on:** January 17, 2006, 12:42:36 PM »

I have comprehensive - £80 (each) from Carol Nash

My 18 year old son paid £400 Thrid Party Only (liability - no fire or theft) for his CG125. Oh the joys of being an old bloke...

Japbikemike · « **Reply #6 on:** January 17, 2006, 12:45:22 PM »

Liability $85 (US) a year, Geico Motorcycle . Getting older has some benefits apparently.

I could buy another bike in 2 years with the difference between liability and comprehensive.

techy5025 · « **Reply #7 on:** January 17, 2006, 02:42:29 PM »

My insurance company wants an appraisal before they will insure the bike for comprehensive
which I want mainly for theft coverage.

A lot of people will appraise cars but I have yet to find one that appraises bikes especially
classics. I'm not sure they will appreciate the true value. Maybe I should start printing
out what similar ones are going for on ebay.

Jim

GraveRobber · « **Reply #8 on:** January 17, 2006, 06:59:23 PM »

I don't know if they will steal these old bikes now, But they did 15 years ago. See my avatar. That's what I recovered 4 years after it had been stolen. (The single seat wasn't on it at the time.)
They stole my chopper and left the gold wing that was setting next to it alone.

seaweb11 · « **Reply #9 on:** January 17, 2006, 07:04:18 PM »

Just put (3 months) insurance on mine today. $164.00 CDN, No collision ICBC Insurance "Government Monopoly" 3 months!
That's with a 43% MAX safe driving discount.

They wanted $250.00 more for collision (Three Months!) I think not

Apparently there is another private ins. Company nearby that offerers "Extra Insurance" for bikes at a far better rate. I am going to look into it.

skamania19 · « **Reply #10 on:** January 17, 2006, 10:09:18 PM »

Quote from: techy5025 on January 17, 2006, 02:42:29 PM

My insurance company wants an appraisal before they will insure the bike for comprehensive
which I want mainly for theft coverage.

A lot of people will appraise cars but I have yet to find one that appraises bikes especially
classics. I'm not sure they will appreciate the true value. Maybe I should start printing
out what similar ones are going for on ebay.

Jim

I took mine to a Honda dealer that takes trades on new bikes and told him I needed an appraisal for insurance. He said, "How much you want it to be worth?" Then he wrote up an appraisal for $50 less. (The amount I told him was reasonable.)

heffay · « **Reply #11 on:** January 17, 2006, 10:36:45 PM »

why do you want to know? going on a robbing spree?... then, the answer is yes!

heffay · « **Reply #12 on:** January 17, 2006, 10:39:01 PM »

forgot to mention my insurance carrier is lousiville slugger... i carry 27oz. of coverage.

ofreen · « **Reply #13 on:** January 17, 2006, 11:13:56 PM »

Quote from: The great "Lumbee" on January 17, 2006, 07:08:42 AM

Would somebody acutally steel one of these old bikes?

Some people will steal anything if it isn't nailed down, and sometimes even when it is. As these bikes become more rare, their value will tend to rise, especially as parts. That will make them more attractive to thieves.

heffay · « **Reply #14 on:** January 17, 2006, 11:26:55 PM »

"would somebody steal these bikes?"

my first bike: 72 suzuki tc-125
sat in barn for 15 years, dad and i resurrected it, looked like sh!t, moved to phoenix, stolen instantly.

i have no idea what the motive was BUT if i find out who did it... i wouldn't mind serving LIFE

SteveD CB500F · « **Reply #15 on:** January 18, 2006, 12:56:33 AM »

Who would steal these old bikes? Ask BryanJ as his beautiful 500 was stolen and torched.

Appraisals - I have an "agreed value" with my insurance company. I returned their forms, 4 photos and a copy of the receipt. This way there is (allegedly) no issue with money if it is destroyed. I hope I never test it!

Gordon · « **Reply #16 on:** January 18, 2006, 06:10:41 AM »

Considering the (relatively) low value of these bikes, if I were worried about possible theft I would be more inclined to just self-insure. And no, I'm not talking about Heffay's 27 oz insurance plan

, I mean I would just start a separate savings account and put the money into it that I would otherwise pay to the insurance company. With the rates as high as they are, I would say within about 2 years I would have saved up at least as much as the "appraised" value, and wouldn't have to pay any deductible if something were to ever happen.

Lumbee · « **Reply #17 on:** January 18, 2006, 06:14:04 AM »

...good point Gordon...I calculated about the same thing...within 2 years u'v got enough to purchase another bike...

Dave Wyatt · « **Reply #18 on:** January 18, 2006, 07:11:19 AM »

Talk about timing! Yesterday my insurance statement for the bike came in the mail. It's only $178/year for the coverage I stated earlier. I have State Farm Ins.

techy5025 · « **Reply #19 on:** January 18, 2006, 04:14:47 PM »

Hmmmm....I have State Farm, too. Maybe I should revisit the agent.

Jim

dusterdude · « **Reply #20 on:** January 18, 2006, 04:46:38 PM »

yea me too

cbjunkie · « **Reply #21 on:** January 18, 2006, 05:10:47 PM »

anybody else use Foremost?

oldbiker · « **Reply #22 on:** January 19, 2006, 01:54:36 AM »

I don't know about Insurance companies in the States, but here in the Uk I paid about £100 for what we call 'fully comprehensive' insurance. The agreed value of my CB400f was £1,000. Three months later, my bike was stolen from my back yard from behind a locked gate and the moronic idiots who took it ran it about half a mile and set it on fire to destroy fingerprint evidence. The company paid up (less £50 excess liability) and I was able to buy another CB400f off eBay. Without that insurance I, as a pensioner, could not have afforded to have another bike. Now make your decision!

Jim Shea · « **Reply #23 on:** January 19, 2006, 02:12:34 AM »

I also have fully comp and pay about 150 pounds through Carol nash

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Author Topic: Do you guys have theft insurance??? (Read 2243 times)

brockj

GraveRobber

Jim Shea