Who will provide physical damage insurance coverage for custom built motorcycles?
Safeco insures a full spectrum of motorcycles from street cycles, Harley Davidsons, cruisers and touring bikes to dirt bikes and ATVs. If you select custom parts coverage, you will receive up to $3,000 in coverage without any additional cost to you. Coverage is available for up to $10,000 in custom parts and equipment. (safeco.com/personal/motorcycle/coverage-options)
Progressive - Motorcycle coverage - when you purchase Comprehensive or Collision coverage, at least $1,000 of Custom Parts and Equipment (CPE)/Accessory coverage - Custom paint, custom plating or custom exhaust is included in most states. Additional CPE coverage can be purchased to cover equipment, up to $30,000 in value. (motorcycle.progressive.com/motorcycle-insurance-coverages-custompartsequipment.aspx) and (motorcycle.progressive.com/custom-motorcycle-insurance.aspx)
Nationwide - Custom parts and equipment coverage (up to $30,000), Custom and limited edition bikes and trikes coverage (up to $50,000), Kit and vintage bike coverage (up to $30,000) (nationwide.com/motorcycle-insurance-coverage.jsp)
GEICO - Motorcycle insurance is available for most types of motorcycles including: sport bikes, cruisers, tour bikes, enduros, scooters, dirt bikes, trikes and some custom bikes. (geico.com/information/aboutinsurance/motorcycle)
USAA General Agency - Whether your bike is a cruiser, street bike or a moped, a specialist in USAA's General Agency can provide insurance coverage for your specific needs, with policy options including: Liability, comprehensive, collision and theft coverage. Custom parts and equipment up to $30,000. Coverage for safety riding apparel, like helmets. Uninsured/underinsured motorist coverage. Medical payments. 24-hour claims service and roadside assistance. Transport trailer physical damage coverage up to $10,000. Insurers with the General Agency are carefully evaluated to meet the USAA level of service and must continually meet our standards. Four-Season Pricing - Your policy is priced to reflect the length of the typical riding season in each state, yet you have the twelve full months of coverage each year. (usaa.com/inet/ent_utils/McStaticPages?key=insurance_motorcycle)
GMAC Insurance - protect your touring bike, performance bike, cruiser or ATV. Exceptional coverage, smart savings and the peace of mind that comes from selecting an insurance company that understands the motorcycle lifestyle. Coverage for most types of motorcycles, up to $2,000 for custom accessories and safety apparel provided at no extra cost! (Higher limits available.), Safe-rider and multi-cycle discounts available. Medical coverage available with no deductible. Add-on Equipment Coverage up to $20,000 optional coverage for all the extras you've invested in. Roadside Assistance as long as you have Comprehensive and Collision coverages, our optional roadside assistance in the event of accident or covered loss won't leave you stranded. You'll get up to $400 per occurrence (up to $100/day for lodging, up to $50/day for transportation), $300 lost deposit coverage, and whatever alternate transportation you choose - another motorcycle or a car. Roadside Assistance benefit also includes an unprecedented $300 allowance for towing - to the nearest qualified repair facility. Because for a bike like yours, just "any" garage won't do. Guaranteed claims service satisfaction or we'll waive your deductible - up to $250. 24-hour claims reporting - With most minor claims paid within 48 hours, and minor claims handled right over the phone. Convenient payment options to fit any budget. (gmacinsurance.com/other-products/motorcycle-insurance/features-benefits.asp)
Ed Spijker at State Farm Insurance helped me on several custom bikes. Really reasonable rate if good driving record and live in California.
Markel Insurance Company in Pewaukee, WI will provide insurance. I've been quoted by them. .
Foremost will cover almost any custom as long as you have the big bucks to lay down. I put the money in the bike and now cannot ride due to insurance costs (foremost.com)
I am having a very hard time trying to insure my custom built bike. It's an ASPT bike. Markel does not insure custom bike unless you have front and rear blinkers (yeah right) and the rake cannot be more then 38 degrees. Foremost seems to be the only one thus far. The guy that said the insurance rates are high he understated it. I am going to have to pay triple based on normal bike insurance rates. By the way I have a clean record. If anybody has anybody else please post. I am forced to sell this bike even before I get to enjoy it.
After an exhaustive search I found Mark at Berglund Insurance (berglundins.com). I had a 2005 Exotix Vision 250 built for apprx $24000 and he was able to insure this bike for $1398 (full coverage 1 year with a speeding ticket)that was $800 less the best quote I found. He then added 2 other bikes (2000 gsxr 600 and a 94 Yamaha fzr 600) and put my wife on the policy for a grand total of------$1507.07---WOW CHEAP I would highly recommend calling them for anyone needing bike ins. (I live in RI) They DO NOT insure in AK HI MA or NJ. phone
If you are referring to Mark Fischer - he has a new site up at: http://www.bikersins.com. He can also be reached at 800-537-6311 ext 107. He is going to require an appraisal (from a certified appraiser)even if you fabbed it from the frame up. Even if your bike is 100% one-off full coverage could be provided up to $40,000.00 in value. He is working with 20 companies across the U.S., Canada and Mexico certified to write an appraisal for custom bikes. I am listed among those 20 companies. The certification is new which as derived from USPAP guidelines. All of the companies have extensive experience in the custom bike industry. Many insurance companies, law firms and financing groups have began to catch wind of this and are contacting me and others for our services.
American Collectors Insurance will insure custom and antique bikes very reasonably and they are very easy to work with. i got my 2005 big dog chopper insured for $30,000 for about $460 a year. They are GREAT! I think their number is Just to add, Markell insures my Paughco hardtail. I insured this bike before amendments, turn signals, handle bar height most noted. No problems until the three year appraisal expired. Now they request an appraisal and inform me they cannot insure full coverage because my bike does not meet said underwriter criteria. I was informed we could insure my bike as an actual cash value and not actual agreed value and that it would be around my est. of $10,000. OK fine, but be aware upon renewal 9/14/05 I talked to a more informed rep and he basically told me I needed to get a new appraisal and that there was no guarantee that I would be insured for $10,000 which is absurd considering my ride! To further insult the appraisal form states my bike cannot be insured! They already took my money! I guess the CO needs to make a DECISION about us. At least I am covered but who knows what they will determine my ride is worth. I do not think you could insure a custom bike and meet their criteria unless they already made money off you...
Most companies will only insure custom bikes for actual cash value subject to limit on the policy.
I write insurance in PA and NJ and Foremost is the go-to company for competitive rates and we write for 3 other bike insurance companies.
Rates and eligibility vary by area, but Foremost will typically write most bikes under $40,000 as long as they are not turbocharged.
Make sure to find an agent who is knowledgeable, and preferably one who rides!
I called American Collectors Insurance and they had a great rate for comprehensive and collision but did not offer Liability required by Texas. Mileage is limited to 2500 miles a year. So I would still have to find another insurance carrier. So I'm still looking. Hacksaw_Rhodes.
Allstate will insure Custom Built Motorcycles. The quotes I received are comparable to normal motorcycle insurance between $350 to $550 a year for full coverage depending on my coverage selections. The value is determined by the claims folks like any other auto or motorcycle. If I wanted a stated amount of $20K then the quote goes way up to $1200 or more like the quotes from Foremost. Unless you have a bunch of money to throw around or you have a show bike that you won't be riding it seems the only option is normal insurance selection. Apparently Allstate has been insuring Custom Built Motorcycles for a while now because they were able to look up the frame MSO on their system. Both Allstate and Foremost offered me Liability only for about $78.00 a year. Also I received several discounts based on other insurance I have and coverages. Hacksaw_Rhodes.
Try Hagerty (hagerty.com/Auto/vehicle_motorcycles.aspx.) They are the leader in insuring custom and collector cars but do the same for motorcycles and boats. They allow you to insure the motorcycle for its actual value and understand the difference between a 40 year old piece of junk worth nothing and a fully restored gem worth tens of thousands of dollars.