Insuring a special construction / custom bike

11705 Views 25 Replies 18 Participants Last post by sixball, Jan 26, 2012

Rotten Egg

Discussion Starter · Jan 25, 2012

Hey guys,
I did find some info while searching, but it was all from 08 or earlier, so I'm wondering if anyone has had any luck (good or bad) insuring a special construction bike lately.

Thinking more of liability, but I guess theft & collision are relevant as well.

I live in Florida, and built my own bike. It's titled as an '05 ASPT vehicle (assembled from parts)
The bike itself doesn't really fit on this forum (soft tail) but the issue does.
Thanks, Rick.

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sixball

· #21 · Jan 26, 2012

BigDawg said:
Anyone that carries liability only...I guess you're not worried about your bike getting stolen, or destroyed in an accident.

For special contstructions, it is difficult to obtain full coverage. Almost all companies have certain requirements. Turn signals, stock rake, no stretch, front and rear brakes, dual throttle, no open primary etc..... So for a stock looking special construction, it would be easier, but who builds a stock bike?

You have to put yourself in the insurance companies shoes: Someone has a radical frame, long front end, no front brake, no signals, minimal lights, a meat grinder primary, and they say it's worth 17 grand.

So, the suit at the insurance company is worried, you'll wreck, and they have to pay you 17 grand, or someone steals it and they have to pay you 17 grand. Or you and your buddies take it all apart and you report it stolen and they have to pay you 17 grand.

So special constructions are a huge risk for them, and therefore if you can jump thru all the hoops and get the insurance, your going to pay the price for the risk they are taking.

So alot of guys want full coverage, but either decide the price is too high, or there bike doesn't qualify for it, so they have liabillity only. It also depends on your location. I had to shop around for full coverage, I couldn't get it from Geico or Progressive like others said in this thread

Sixball

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BigDawg

· #22 · Jan 26, 2012

It was really just a rhetorical statement, and everything that you said makes perfect sense, but for piece of mind I'd rather pay the premium for full coverage on a SPCT titled bike than know at any minute I'd be out however many thousands of dollars that went into it.

I don't ever build/buy SPCT bikes, so it's of no concern to me, but no matter what bike I had, as long as I have enough cheese in it, I'm going to fully cover it.

That's just a matter of opinion.

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sixball

· #23 · Jan 26, 2012

BigDawg said:
It was really just a rhetorical statement, and everything that you said makes perfect sense, but for piece of mind I'd rather pay the premium for full coverage on a SPCT titled bike than know at any minute I'd be out however many thousands of dollars that went into it.

I don't ever build/buy SPCT bikes, so it's of no concern to me, but no matter what bike I had, as long as I have enough cheese in it, I'm going to fully cover it.

That's just a matter of opinion.

Agreed.

I will always have full coverage. The economy has taken it's toll on stated value policies, as the value of bikes goes down, the insurance companies have to re-evaluate some of the policies and premiums.

I was just throwing out there that insuring a special contruction with full coverage isn't as easy as just simply saying "full coverage" or "liability" like it is with a HD title'd bike.

I sure wish it was though.......

Sixball

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Englishman

· #24 · Jan 26, 2012

For what it's worth, I've never had more than the legal minimum on any of my bikes period. If I break it, I fix it. So far I've avoided other people trying to break it. Also never had a brand new bike in the US, so no mandatory insurance.
I had to use Progressive for my 'assembled' Shovel.

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BigDawg

· #25 · Jan 26, 2012

Englishman said:
For what it's worth, I've never had more than the legal minimum on any of my bikes period. If I break it, I fix it. So far I've avoided other people trying to break it. Also never had a brand new bike in the US, so no mandatory insurance.
I had to use Progressive for my 'assembled' Shovel.

Yeah, but we're talking either someone stealing it or damage that is beyond repair. Most people on this site are competent enough that barring something out of their control, would fix their bike before claiming it on insurance, so that's something that should remain unsaid.

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sixball

· #26 · Jan 26, 2012

I've always fixed mine. It's alot easier with an insurance check though........

And theft is always a concearn. Even with the check in hand, It would be hard to loose a bike. The insurance pays money, but they can't replace the blood and sweat put into a personal build. But the piece of mind knowing that your not going to loose the cash AND the bike is worth the premium.

Sixball

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