Motorcycles are often very fun, but very expensive pieces of equipment. With this financial investment, you also need to consider motorcycle insurance. Many states even require their motorcycle riders to carry minimum levels of insurance.
Different places have different motorcycle insurance rates. However, the amount of coverage, and the quality of the bike have an effect on rates.
Motorcycles vary greatly across their branding. They have different speeds, features and safety apparatuses. High-end bikes could easily cost thousands of dollars more than the standard bike. This usually affects any insurance coverage you get for the bike.
Customizing Your Bike
Over time, you may want to alter or change certain aspects of the bike. Many riders often customize their bikes. Customization makes a bike yours, and allows you to further enjoy your ride.
Customizations might include:
- Special engravings or paint jobs
- Custom piping or metal parts using chrome, copper or gold
- Additional fuel system mechanisms like custom exhaust pipes
- A customized seat or steering mechanism
- Extra navigational equipment like compasses
- Certain bike performance enhancers
As you add custom parts, you are likely manipulating the value and risks associated with the bike. Any changes to the bike could lead to problems, and that could lead to insurance liability.
Insuring a Customized Bike
You will want to protect any of your bike’s customized elements with insurance. Doing so will help you reduce the chances of financial losses.
Bike owners usually can cover their customized elements with insurance. How your motorcycle insurance covers customized elements often varies from policy to policy.
Some policies cover a certain amount of customization on the standard motorcycle policy. Other policies may require policyholders to purchase riders to cover these elements. Still others may require riders to buy a supplementary policy to cover customizations.
Keep in mind that insurance may not cover all the customizations you make to a bike. Certain exclusions may apply to the policy. For example, policies may only offer customization coverage up to a certain amount. If you have customizations that exceed this limit, you may still not have full coverage.
Furthermore, take careful note of how you install customizations. Certain insurance policies require a professional to customize the bike to have coverage.
It is important to understand your motorcycle insurance policy before you customize the bike. Doing so can help you avoid making any mistakes that don’t have coverage. Talk to your insurance agent before you make any customizations.
McInnis Insurance Services, Inc. can help you get a fast, free motorcycle insurance quote. We can also tell you the best way to insure customizations. Give us a call at (844) 926-0860 for more information.