Hey Guys:
I've been having a heck of a time trying to find a good insurer that offers additional motorcycle coverage for the value of my sidecar, or simply insurance coverage for the value of the sidecar.
My new (and first) sidecar is being delivered in a couple of weeks, and while I obviously have insurance on my motorcycle, it seems that the couple of companies I have called want to call it an "accessory," which is fine, but they also have a cap of just $3000.00 for all accessories, total. That's about right for the accessories I have, but leaves no room whatsoever for the sidecar, which, as I'm sure many of you know, are anything but cheap.
In any case, I thought I'd post here looking for insight from those in the know. I appreciate any advice an opinions that you may have.
My agent with Progressive wrote a $4000 add-on rider for the sidecar.
I hope you have an appraisal on the sidecar, otherwise the insurance company will give you book value.
Ken
Originally written by kfskmccall on 2/10/2009 7:13 PM
I hope you have an appraisal on the sidecar, otherwise the insurance company will give you book value.
Ken
In my case, I do. The insurance company assessed it at $4000, I didn't. The agent was the one who told me that all accessories and personal property, (contents) combined would only be covered for 10% of the motorcycle's value unless I did this. My sidecar is worth as much or more than my motorcycle.
Originally written by SidecarMike on 2/10/2009 6:23 PM
Originally written by kfskmccall on 2/10/2009 7:13 PM
I hope you have an appraisal on the sidecar, otherwise the insurance company will give you book value.
Ken
In my case, I do. The insurance company assessed it at $4000, I didn't. The agent was the one who told me that all accessories and personal property, (contents) combined would only be covered for 10% of the motorcycle's value unless I did this. My sidecar is worth as much or more than my motorcycle.
Well, I just bought it, so I have a bill of sale. Who knows what they'll think or not though.
I'm having the same problem though with valuation. My bike is worth about 10K per the ins. company for replacement value. Geico cover's 30% for accessories, which is where I got the rough $3K figure. The side car, with options, delivery, and paint, is costing about $7000.00, so I pretty much blew the $3K, and I've already sucked that up with other accessories.
I did go ahead and get a quote from progressive. They did a rider like somebody else mentioned. So this is possible. Problem is, they are about 5x times the price of my Geico policy for about 2.5x the coverage.
Hopefully I can get some other quotes for a more reasonable rate.
Otherwise, I may just stick with Geico and accept the risk of loss for the sidecar. Ok, I'm rambling. Thanks for the input guys. If others have suggestions or good experiences with Ins. Companies besides Geico or Progressive, let me know.
I'm with Nationwide in VA and I got agreed Value of 27,000 on my HD. I did that with two other bike and the 4th was book value. I couldn't beat the price elsewhere.
Originally written by HOG on 2/10/2009 10:14 PM
I'm with Nationwide in VA and I got agreed Value of 27,000 on my HD. I did that with two other bike and the 4th was book value. I couldn't beat the price elsewhere.
Nice. I'll give them a call tomorrow for a quote. A clean cut "agreed value" or "stated value" policy would be the easiest and most straight forward.
While this post will not help anyone in the US, I paid $342.00/year for full replacement on a 2005 Vstar 1100 and a sidecar valued at 5000.00. When the bike was lost in a fire before Christmas they paid 22 000.00
I'm with Foremost thru the AARP. The premium was very fair and the total rig is replacement valued for the full price that I paid for the rig. No claims yet (and hopefully, never) so guess I'll have to wait to find out how good they really are!
Karl
Originally written by jkmolt on 2/11/2009 10:36 AM
I'm with Foremost thru the AARP. The premium was very fair and the total rig is replacement valued for the full price that I paid for the rig. No claims yet (and hopefully, never) so guess I'll have to wait to find out how good they really are!
Karl
I am with them also and will let you know how my claim works out.
slid in gravel and hit a truck.
just windsheilds and fiberglass damage.
Please do let me know how they treat you.
Karl
Another Foremost guy here. They charged me an extra $10 to cover my TLE for $6000.
If you have an older bike (over 20 years) and drive occasionally then Haggerty is the way to go.
I pay $166 per year and have an agreed value of $12500 including s/c.
Howard
'74 Guzzi + '72 Jawa/Velo 560
Thanks again guys for the tips. Progressive and Nationwide are each able to offer policies. I still need to try the others mentioned. At least I've found places that will do it. Now I just need to decide whether I am willing to pay for it.
Thanks again.
AMA sponsored Nationwide Ins. full coverage,road side, $500 deductible, $7000 rider on the sidecar $153 pre year, you won't beat it.
