You recently purchased the motorcycle of your dreams in Tomball, TX, and proudly showed it off to your friends and family. Before taking it out for an extended ride, make sure you protect it with a comprehensive insurance policy. Hastings Insurance Agency LLC can help you choose a policy that safeguards your investment in your high-end motorcycle.
Core Protections for Expensive Bikes
Standard motorcycle policies often fall short when it comes to covering high-end bikes. Riders should opt for a specialized insurance policy that includes agreed value coverage, comprehensive coverage, collision coverage, and protection for custom parts. It’s essential to ensure your policy accurately reflects your bike’s actual value. Many motorcycle owners add custom parts to their bikes after the initial purchase, which can significantly increase the vehicle’s value. Be sure to notify your insurance carrier of any major modifications and keep copies of invoices to document the changes.
Most custom bike owners prefer an agreed value policy over an actual cash value policy, as high-end motorcycles often appreciate in value. An agreed value policy guarantees you’ll receive the full value of your motorcycle if it’s totaled in an accident. In contrast, an actual cash value policy may leave you covering a significant portion of repair costs or receiving a lower payout if the bike is totaled.
Other Considerations
Optional add-ons to your motorcycle policy are essential. Review your policy to ensure you have sufficient comprehensive coverage, as high-end motorcycles are more susceptible to theft. Common endorsements include:
- Coverage for custom finishes and parts
- An original equipment manufacturer (OEM) endorsement to ensure manufacturer parts are used for repairs
Additionally, consider installing an anti-theft device to deter potential thieves.
Learn more about protecting your investment in a high-end motorcycle by contacting Hastings Insurance Agency LLC, serving Tomball, TX. Call our office today to schedule an appointment.