Will Motorcycle Insurance Cover Theft?

Your motorcycle is a valuable asset you are proud to own. Yet, motorcycles are often a target for thieves. Depending on the type of insurance you have, you may have financial protection if you’re a victim of motorcycle theft.

What Type of Motorcycle Insurance Do You Have?

A good starting point is to understand what type of motorcycle insurance you have. If you purchase comprehensive coverage, you may be covered in the event of theft. Collision coverage typically does not provide protections against theft, nor does liability coverage.

What Will Insurance Cover?

Your motorcycle insurance plan will list specifics about the theft coverage you have, and every plan will vary. Your policy may include coverage for the following:

• The bike itself. The amount paid to you will depend on the coverage you have. Policies usually limit payments to the coverage presented in the policy. Additionally, you may have actual cash value coverage (the value of the motorcycle at the time of the theft) or replacement value (the cost to replace the vehicle at the same quality).
• The equipment you have on board. If you have any technology or customizations, these are often a part of a comprehensive motorcycle plan. Most will have specific limits on the amount of coverage necessary.
• The equipment accompanying the bike. Your motorcycle gear, including helmets and clothing, may be a part of your claim for theft as well. The policy may limit the amount of coverage up to the dollar amount listed on your plan.

Get Covered Today

Work with your motorcycle insurance provider to create a plan that matches your risk. Be sure it adequately represents the value of your bike and whether or not you store any valuables in it. Keep your insurance agent updated on the customizations you make to the bike. Modifications can change the bike’s value.

If you need motorcycle insurance, then we’ve got you covered. Paige Agency can help you get a fast, free quote for a motorcycle policy. Call us at 601-572-8688 for more information.