Bike Appraisal and Insurance

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DogT said:
That's interesting, Hagarty was real blunt with me, they would not insure my bike alone, end of conversation. All the others I spoke too, was not an issue of going to show so much, but not a daily rider, hobby riding seemed fine. Pretty much like what the antique plate means for a VA driver, occasional use, not for replacing your daily ride, just for pleasure or hobby or "historical" use. Every time the Norton is on the road, it's historical. I understand the police in VA are agreeable to it too and don't hassle you.

Must be different sales people, but you have to go with what feels right.

Dave
69S
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They did ask for proof of insurance for my daily driver to show that the bike would not be a daily driver. Perhaps it was just a misunderstanding? I was very careful to ask questions and keep asking questions until both I and they understood what I wanted to know. But you're right, it sometimes is just a matter of talking to the right people.

While you can go with any of them and just say, yes, it's just for display/hobby/club/show I just feel better with someone who does't BS and just understands that you want to go for a ride in the countryside and that's ok. If I get hit in the middle of nowhere I don't want to be lying there trying to think of the nearest museum I should have been at. :mrgreen:
 
Hmmm, I just talked to Hagarty and they didn't have any issues at all with only one bike, just wanted proof of other car insurance for a regular use. I'll have to call Taylor again to see what their policies are, they seemed to have about 1/2 price, but maybe their insurance doesn't cover as much. Hagarty seems to cover it all. I wonder if it wasn't someone else I was talking to? My oldtimers is acting up again.

Dave
69S
 
I have an agent who handles all my insurances and they converted me to Hagertys last year. The question of insuring a bike only never came up that I know of.
 
I realized paying an insurance company premiums for anything but liability and UM was a waste of my money. I know there are those that like that security, but I am not one that needs an insurance company to provide me with a false sense of security by paying them money. I have had several accidents over the years, two of which I felt filing a claim would be worth it and in both cases I was either dropped immediately (foremost) and or my rates tripled (markel). The average brit bike owner doesn't own a priceless piece of machinery and fixing any damage out of pocket is much easier than hassling with or paying inflated premiums for a just in case scenario. I have liability and UM through dairyland on four bikes and it costs less than 200 dollars a year and I have no limits on the mileage. Now if I owned a vincent, brough or anything hard to replace I'd pay the premiums for full coverage, but not for a basic norton or triumph.
 
britbike220 said:
I realized paying an insurance company premiums for anything but liability and UM was a waste of my money. I know there are those that like that security, but I am not one that needs an insurance company to provide me with a false sense of security by paying them money. I have had several accidents over the years, two of which I felt filing a claim would be worth it and in both cases I was either dropped immediately (foremost) and or my rates tripled (markel). The average brit bike owner doesn't own a priceless piece of machinery and fixing any damage out of pocket is much easier than hassling with or paying inflated premiums for a just in case scenario. I have liability and UM through dairyland on four bikes and it costs less than 200 dollars a year and I have no limits on the mileage. Now if I owned a vincent, brough or anything hard to replace I'd pay the premiums for full coverage, but not for a basic norton or triumph.
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What about theft?
 
Yes, I too have been riding my Commando for years now with just liability and UM.

BUT, this year I am getting quotes on also full comp, and this requires an appraisal by a local dealer who charges $80,
and this is acceptable to my insurance agency.

Why? Because of two basic things, one is that if I go down on the highway and my bike is totaled or really badly damaged, I am screwed. Two, if I am hit by someone without insurance, very possible, and again my bike is badly damaged, i am again out a lot.

I have over $15,000 in my Commando, and I am thinking of having the appraisal state that with my receipts.
I have checked, adding full comp adds only about $200 to my annual premium.

Not bad for the peace of mind of a worst case happening.
 
I've got the JC Taylor down to $53 if I drop the collision. They don't seem to have any issue with hobby riding. Not bad. They would probably drop you if you made a claim anyhow, like most would.

Dave
69S
 
I have all of my bikes and antique cars insured with a Hagerty "agreed value" policy. I have used them for several years. They are always friendly and professional and answer questions promptly. They have a fair number of enhancements in the policy. They don't generally require appraisals and fully understand that collectors often have more into their bikes and/or cars than they are worth on the open market which is why the agreed value policy makes sense.
 
swooshdave said:
So as the bike gets closer to streetable I need insurance. Any advice? I currently use Farmers for everything else and they have Foremost underwrite their motorcycles.

From what I gathered from my agent they will just insure for the stated value, no appraisal. Apparently most people will just state what they purchased the bike for. I just threw out $8k to see what would happen.

Thoughts on insurance or appraisals?

I don't mind leaving Farmers for a better deal.
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I used American Collectors for a few years but Hagerty's was a lot cheaper, at least for multiple bikes.
 
maylar said:
I use Condon & Skelly:
http://www.condonskelly.com/

$10,000 agreed value with 300K liability cost me $115 a year. It's "classiic" insurance, with a 2500 mile per year limit - just about what I do. I can't ride it to work though, they won't cover daily commuters. I sent them photos as proof of value.

The carrier is Met Life and they handled my claim last year when I dropped the Norton in a slow turn. Superb service, I can't say enough about that. An adjuster came to my house and I had a check a few days later. The renewal this year states the agreed value to be 8200, which is the difference between 10K and the 1800 that they paid me for damages. I need to send in updated photos to prove I've done the repairs. That's understandable.

My brother uses the green lizzard for his 2 bikes and he's been very happy with them too. No limits in useage.
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I use them too. $100 a year 0 deductible 3000 mile! Had a spill on diesel that caused $1000 damage, emailed photos and they mailed a check, I did repairs!
 
It was JC Taylor that wouldn't insure my single bike. I called them today to get started and they said no, had to have more than one. So, next best seems to be condonskelly.

Dave
69S
 
DogT said:
It was JC Taylor that wouldn't insure my single bike. I called them today to get started and they said no, had to have more than one. So, next best seems to be condonskelly.

Dave
69S
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What happened to Hagerty?

I tried to get the Vette with them too but it was a no go because my "regular" driver was older than the Vette (78 Chevy pickup). Unfortunately insurance doesn't care that I take public transportation 95% of the time.

So all the cars will get switched to Geico from Farmers and we'll end up saving 50%. So in the end it was a good thing.

I'll still go with Hagerty as they were only about $100/yr (Geico wanted about $200, not that they know what a Norton is, and Dairyland wanted about $100 but no collision).
 
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