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Custom Motorcycle Insurance: Securing your Huge Monetary Investment
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Have you seen motorcycles lately with designs that are quite different from the regular motorcycles you are seeing around? These are called custom motorcycles which are highly stylized and fitted according to the personality of its owner. It treats motor attributes such as its frame and engine design differently compared to the standard manufacturing of a regular motorcycle.
Unlike the regular motorcycle that is massively-produced, custom motorcycles are manufactured in a very limited amount. Some famous and expensive custom motorcycles are the ones manufactured by Harley Davidson, Orange County Choppers, and Jesse James’ West Coast Choppers which became an established status symbol in custom motorcycle.
Custom motorcycles can be considered to be a huge monetary investment. Especially if you built your motorcycle all by yourself, it is considered to be more than what you invested if you will buy it. Expect that there are no their custom motorcycles around the world that resembles like the one you own. You made it for yourself and enjoy it.
Since you built it, it is your pride to protect it from possible damages. You may opt to store it indoors or locked it in your garage protected with a security system. However, unforeseen circumstances are just out there are in the corner, waiting to strike. Unlucky for you if your custom motorcycle will be damaged or ripped off in an accident on the road.
It is something that you should be prepared of, whether you like it or not. That is why you need to get an insurance policy for your custom-built motorcycle. However, keep in mind that there are more things involved and at stake in getting an insurance policy for this kind of motorcycle compared to car insurance and even the regular motorcycle insurance coverage.
This article will help you shop for the best insurance policy for your custom motorcycle. If you own one, it will be of great help for you if you will read the rest of this article. Remember that getting a policy for your unique piece of work is not just as easy as you think.
First thing you must be aware of is not all insurers are willing to provide coverage for custom built motorcycles because these are often lacking Blue Book values. Since it is commonly built by an individual and the kits used are purchased from an unrecognized custom shop, custom motorcycles are hard to register. Thus, it also makes harder to insure the motorcycle itself.
Another reason why custom motorcycles are hard to insure is because of its very high replacement costs involved. In case these custom motorcycles are lost or damaged, insurance providers do not want to risk their investment just to compensate these high replacement cost. For instance, a brand-new Harley Davidson could sell for about $25,000. A custom motorcycle can be twice that amount, retailing for $50,000. Every insurer knows the high risk of insuring such huge amounts, and they do not want to risk their investment in such matter.
Most of the states across the country that offers motorcycle insurance will require these custom-built bikes to be inspected by their respective Department of Transportation and pass either semi-annual or annual safety test.
The first thing is to pass this safety test in order to get your motorcycle insured. After passing it, look for insurance providers that offer full motorcycle coverage and not just liability insurance. This will include coverage of injuries to you and other persons involved as well as the damages on your custom motorcycle in case of accident or theft.
Insuring your custom motorcycle is securing your monetary investment in building it. Get an insurance provider that can understand your needs in protecting such valuable investment of yours.
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