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Custom/Kit Motorcycle Insurance

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ZoomingM3

Posts: 53

Joined: Sun Feb 15, 2004 1:01 am

Location: Pennsylvania

Post Sat Nov 11, 2006 6:55 am

Custom/Kit Motorcycle Insurance

Does anyone know who insures custom/kit motorcycles? I found most of the known insurance carriers won't insure custom bikes. Any information would be appreciated.

Thanks
Image
Last edited by ZoomingM3 on Thu Nov 16, 2006 11:02 am, edited 1 time in total.
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Plumber

Posts: 1536

Joined: Tue Aug 26, 2003 12:01 am

Location: S.Calif.

Post Sat Nov 11, 2006 7:41 am

Check with the eyeball licking Gekko at Geico first.
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Quote: http://www.bikersfoundation.org/motorcy ... rance.html
"It was interesting on how custom motorcycles were insured. Whether a bike started as a stock Harley Davidson and has been significantly customized or a custom motorcycle built from the ground up, there are insurance companies that have an agreed upon value coverage option. Since there isn’t a Blue Book value on a significantly modified or custom bike there is custom motorcycle insurance. This type of insurance gives you an agreed upon value and you needed some pictures and an appraisal to get a free quote. One thing to note, since custom motorcycles quotes aren’t standardized they are not as cheap to cover your bike."
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http://www.faqfarm.com/Q/Who_will_provi ... otorcycles
Answer

Just contacted Progressive and was informed they DO NOT insure custom motorcycles. GIECO doesn't either.

Answer

Foremost Insurance Group

http://www.thehogfarm.net/bikeinsurance.htm

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Ed Spijker at State Farm Insurance helped me on several custom bikes. Really reasonable rate if good driving record amd live in california. Call 510-278-4000 and ask for Ed or Donna.

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Markel Insurance Comapny in Pewaukee, WI will provide insurance. I've been quoted by them. (262) 548-9880.

Answer

I just obtained quote from Donna and she has GREAT rates and very customer friendly. Extremely reasonable rate if good driving record amd live in california.
Call 510-278-4000 and ask for Donna.

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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.

Answer
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 ? 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 concacting me and others for our services. If you have questions regarding appraisals call Mark directly or you can call me at 1-866-266-2227. Bobby Royal

Answer

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 $? for about $? a year. They are GREAT! I think thier number is 800-360-2277.

Answer

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 $?. 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 $? 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...

Answer

NEW QUOTE FORM AT http://www.rafraser.com/recreational.php

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 $? as long as they are not turbocharged.

Make sure to find an agent who is knowledgeable, and preferably one who rides!

Contact Andrew Rumbold with any questions or Free quotes for PA & NJ at 215-340-1888 or andy@rafraser.com

Regards!

Answer

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.

Answer

Allstate will insure Custom Built Motorcycles. The quotes I received are comparable to normal motorcycle insurance between $? to $? 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 $? then the quote goes way up to $? 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 $? a year. Aslo I received several discounts based on other insurance I have and coverages. Hacksaw_Rhodes.

Answer

Try Hagertyhttp://www.hagerty.com/Auto/vehi ... ycles.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 pice of junk worth nothing and a fully restored gem worth ? of dollars. Money sums are a no no...Sorry Kirk...You did a great job in researching this but rules are rules. Pa
Last edited by Plumber on Fri Nov 17, 2006 7:38 pm, edited 3 times in total.
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Plumber

Posts: 1536

Joined: Tue Aug 26, 2003 12:01 am

Location: S.Calif.

Post Sat Nov 11, 2006 8:03 am

Let us know who you find to insure your creed. I'm going to look for liability only.
Last edited by Plumber on Fri Nov 17, 2006 7:31 pm, edited 1 time in total.
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Pa

Site Admin

Posts: 4696

Joined: Sun Mar 12, 2000 1:01 am

Location: Ohio USA

Post Sat Nov 11, 2006 6:02 pm

Plumber....It is obvious you did extensive work on your insurance research but please remove the dollar amounts. Dollar amounts are not fair in one place if not allowed in another. Folks can PM or email you direct you for those. Sorry......... Pa
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ZoomingM3

Posts: 53

Joined: Sun Feb 15, 2004 1:01 am

Location: Pennsylvania

Post Sat Nov 11, 2006 6:02 pm

Plumber,

Thanks for the information. I'll let you know who I end up going with.
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Dusty-Dave

Posts: 876

Joined: Tue Oct 12, 1999 12:01 am

Location: Ojo Caliente,NM,USA

Post Sat Nov 11, 2006 10:34 pm

Pa
Lighten up a little.
Insurance information is pretty worthless without dollar amounts. How can that hurt anything.
Dusty
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Pa

Site Admin

Posts: 4696

Joined: Sun Mar 12, 2000 1:01 am

Location: Ohio USA

Post Sat Nov 11, 2006 10:53 pm

If I were an insurance rep, I would reply with my prices also. You can bet many of them view this forum as well. Pa
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Plumber

Posts: 1536

Joined: Tue Aug 26, 2003 12:01 am

Location: S.Calif.

Post Sun Nov 12, 2006 11:58 am

I'm not bucking the price posting rule. In this situation however, we have a new industry taking off. It's the replica "kit" build 'em and ride 'em industry, and IMO, I hope other insurance companies do see the cheapest (liability-only) quote we find and know that there's a growing number of OHV enthusiast's to sell to now.
You're certainly welcome to delete any messages or prices I post at any time about any subject. No offense meant or taken.
I googled "insurance for custom motorcycles" and found the forum, then copied and pasted it over here :lol: , so I didn't really spend a whole lot of time on research. Full coverage insurance is nice, but "liability only" is all most states require for bare-bones legal.
Zoom - can you post another right-side photo of your '36, here, so we can have something to look at while we're waiting for a quote ?
Last edited by Plumber on Fri Nov 17, 2006 2:25 pm, edited 1 time in total.
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Pa

Site Admin

Posts: 4696

Joined: Sun Mar 12, 2000 1:01 am

Location: Ohio USA

Post Sun Nov 12, 2006 7:46 pm

Hell Bro !!!! you were cool enough to take the time to look into it !! The imfo is awesome but rules are rules. I cannot break them. Thanks Plumber...for looking out for us all. Go ahead Man !!! Swing at me now. :wink: Pa
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mbskeam

Posts: 26

Joined: Mon Dec 12, 2005 10:49 pm

Location: sultan WA

Post Sun Nov 12, 2006 8:37 pm

Soooo, who is it that has the 3/4 of a hundred price......
? marks dont give the answer.

Pa.....
I dont know if its been asked, but what is the deal with the price thing?
most know that if it is posted that you can get a part or service for X,$ amount, this is given for refrence only.
this is the only site that I have seen this on.
just wundering.....

mbskeam
"life is hard......it's harder if you're stupid"
http://www.geocities.com/mbskeam/
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Pa

Site Admin

Posts: 4696

Joined: Sun Mar 12, 2000 1:01 am

Location: Ohio USA

Post Mon Nov 13, 2006 7:06 am

Site Owners would have to answer that. I just respect and follow the rules they laid down. Pa
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Plumber

Posts: 1536

Joined: Tue Aug 26, 2003 12:01 am

Location: S.Calif.

Post Mon Nov 13, 2006 9:17 am

Once you get insured the circle is complete.
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To rapid post a photo, I start with an established FHP post. Then "favorite" over to imageshack, get the photo url'd and "copied"; then, back button twice, and you're back on your FHP post. To post another photo, you have to "favorite" to imageshack again.
Last edited by Plumber on Fri Nov 17, 2006 7:32 pm, edited 3 times in total.
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ZoomingM3

Posts: 53

Joined: Sun Feb 15, 2004 1:01 am

Location: Pennsylvania

Post Tue Nov 14, 2006 10:36 am

Plumber,

With consideration to posting another photo of my bike, let me work on it. Hopefully your post that expains how to attach a photo will help. As for the painful process of obtaining insurance, I'm still working on it.
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ZoomingM3

Posts: 53

Joined: Sun Feb 15, 2004 1:01 am

Location: Pennsylvania

Post Thu Nov 16, 2006 6:29 pm

I’m pleased to say I survived the painful process of obtaining custom motorcycle insurance. I have to admit, the process wasn’t as bad as I thought. I ended up going with Foremost Insurance. I worked with Marc Fischer at Fischer Specialty Insurance (http://www.Bikersins.com), I found Marc to be both helpful and knowledgeable. Marc provided me with a competitive (cheapest) quote that met all my insurance needs. I understand it’s frowned upon to post actual costs so let me just say Marc’s quote was as much as 30% less than some of the other quotes I received. If you’re in the market for custom motorcycle insurance, I would highly recommend Fischer Specialty Insurance for your motorcycle insurance needs.
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Plumber

Posts: 1536

Joined: Tue Aug 26, 2003 12:01 am

Location: S.Calif.

Post Fri Nov 17, 2006 9:00 am

The way I look at it is, FHP is in the business of making motors for people to build motorcycles. Unless you're not going to register the motorcycle and just drive it around an empty parking lot on Sundays, it would seem that having a known insurance carrier with some posted prices for "liability only" and "full coverage", would......help establish a real-world market for Knuckleheads. Weird as it seems, it could be the old case of "fear of success". Whatever. If you hadn't gone to the trouble to build and register yours, we'd all still be wondering.
I emailed for a quote on a 2006 OHV. valued at 15K, ridden for 2,000 miles a year. (I'd rather state a lower value and maybe get a lower premium). I wasn't ask to get an appraisal yet. I listed http://flatheadpower and http://hydra-glide.net under "member of any organizations" That's right inn'it ? 8) Good as club's as AMCA ever was. Replica, freely spoken here.
http://www.bikersins.com/
Call Now: 1-877-537-2555
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ZoomingM3

Posts: 53

Joined: Sun Feb 15, 2004 1:01 am

Location: Pennsylvania

Post Fri Nov 17, 2006 5:50 pm

As for the cost of insuring my bike, let’s just say my annual premium was more than $600 and less than $650. This amount got me full coverage with high liability limits. In order to get this premium I elected to go with high deductibles. If I were to go with Liability only, my annual premium would have been less than $70. Something else worth mentioning was Foremost did not require an appraisal. Most insurance companies (American Collectors, Nationwide, Fraser, etc) I contact did state an appraisal would be required prior to insuring the bike. I hope this information helps.
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Plumber

Posts: 1536

Joined: Tue Aug 26, 2003 12:01 am

Location: S.Calif.

Post Fri Nov 17, 2006 6:34 pm

If I were to go with liability only, my annual premium would have been less than $70. Something else worth mentioning was Foremost did not require an appraisal.
...
All I needed to provide Foremost was 2 color photos of the bike along with my build sheet which identified the costs of all the parts.

I was told that, with full coverage, you can save another 20% (10% for each course) if you've taken a safety course. I've heard those safety courses are pretty good (Frankenstein's [a.k.a. Dr. Dick] an instructor), and another 10% off the premium if you're HOG member or similar. A good week's work. Thanks for blazing a trail.

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