Motorcycles come in many different shapes and sizes, and often have custom parts, paint, or other additions.
While you are probably well aware that you need liability coverage for your motorcycle, what about insurance to protect these special items that make it unique? Let’s review what you may want to know about specialty motorcycle insurance.
Custom Parts
Maybe you’ve replaced the exhaust, enhanced the audio system, or even upgraded the engine on your motorcycle. It’s unlikely that a “standard” insurance policy provides coverages for these modifications, especially if they are not OEM parts or materials. While minor upgrades may not be considered “custom” on some policies, you’ll want to make sure any changes you’ve made would be covered in case of an accident or theft.
Optional Equipment
Slightly different than the custom parts, optional equipment may include paint jobs, custom bike trailers, or even plating like chrome. Some policies may offer endorsements for adding coverage on these items. Specialty motorcycle policies may include coverage for them. Discussing with your agent what you have, how much it’s worth, and how you use it is the key here.
Agreed Value
Having your motorcycle insured for an “agreed value” is a great way to make sure you have the coverage you want should you need to replace parts or make repairs from a covered loss. When you’ve made significant changes to your motorcycle, the value is likely much greater than a book rate that an insurance company would use for a standard policy. With agreed value, you and your agent have worked with the company to provide a more realistic amount to cover.
So, what insurance do you need for your motorcycle? Whether it’s a standard or a custom policy, we can review what you currently have and the options available to give you the safest ride on the road.