We’ve already managed to cover Liability, Uninsured Motorist, and Comprehensive and Collision coverage. All these things are common with allinsurers. For this article I will cover things you may not know can be covered or have never had explained by your agent, broker or underwriter.
Companies that have recreational products divisions often offer extras at little or no charge at all. Accessories coverage is a great example.
Most companies will offer $3000 to $5000 worth of accessories coverage at no extra cost.
1. You have to ask your motorcycle insurance agent what the accessories coverage freebee is. What does it cover?
Bags, screens, chrome, exhaust, your fuel-injection upgrade, seats, custom paint – name it and chances are it can qualify. This includes suspension upgrades.
2. What it doesn’t cover is the labor for installation? Why?
Because you really don’t need all that stuff- you just want that stuff. And there are limits to the total accessories. Usually, it has to be less than the NADA retail value of your bike. When you exceed your freebee, coverage of the additional accessories will cost additional money. It’s not usually that expensive, but the percentage varies company to company.
If you do not declare your accessories and have a total loss, you will only be paid for your stock bike. There are exceptions, but it comes at a price.
Foremost insurance will automatically move your bike from its designated segment into a custom bike segment if the accessories exceed $15,000. Two reasons: First, you were crazy enough to spend the money in the first place. And, second, to cover constructed bikes. You bike builders know what I’m talking about.
Performance upgrades (going into the motor, turbo or superchargers) are allowed by some companies. The same labor-not-included rule applies, but you really should declare the upgrades. If you don’t declare it, your motor will be considered “stock” and returned to that state if your motor is damaged.
- Transmission work applies, as well. If you purchase a slipper clutch then make sure you add it to the total of the accessories coverage with the parts cost of the motor upgrades. If you bought a Baker 6-speed for your Harley, you have to make sure that you have it covered. You know the consequences.
- Towing is an option with many companies, but there are limits. Some companies offer you towing to the nearest motorcycle shop from where you broke down. Some offer “reasonable expense” coverage, which operates off the premise that you pay for the towing and send the bill to claims and they will reimburse you less a $50 deductible.
This coverage means that, in most cases, they will go up to 300 miles before they ask why you’re towing it so far. Most people average less than 100 miles. This coverage does have a premium attached to it but usually costs less than $10 annually. It’s a pretty good deal.
