Massachusetts Trike Owners - Insurance Question

frankj said:

Hi, once you had the conversion done how did your insurance company determine the value of your trike? Was it the book value of the motorcycle you had converted plus the cost of the kit?

Did you have to have an appraisal done by them?

I know the bike depreciates each year so they must estimate some kind of depreciation for the kit, I ask because my bike is a 1999, the kit I'm getting is going to be 2018.

Thanks

Frank

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Burnerboy said:

Hi frank, great question here, when I converted my wing 2010 last season, I called my company, and if memories is correct, my policy quote did not go up at all.. I sent the Ins. company, a copy of my trike conversion receipt's , what I had done, plus the exact costs of everything, so they have all my extra costs proof's to have it converted.. I can check more into it for you if you'd like ok...

Ronnie

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Burnerboy said:

Frank,

I actually forgot, (maybe it's age) let me go out to my garage and see my registration ..

I just pay my ins. costs, in the beginning of the season all in full, so my memory is lacking..

I have Progressive insurance, and soo far I have been happy with then, BUT then again, I have not had to request any claims either

Ronnie

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frankj said:

I did a advanced search on this site, topic was Insurance and found coverage and rates varied immensely from different insurance carriers.

Best way to find out how good your insurance coverage is, and what they will pay is to find out before you need it, call your insurance company and ask them will you pay the full replacement cost of the trike kit? The bike will be paid out at the current book value.

Frank

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Burnerboy said:

Excellent idea there, Frank, thank you, I'm calling tomorrow morning!

Hey when we go to Scotties (restaurant) golf course (just past Look park) for a lunch ride (I don't golf) would you be interested in meeting, love to put a face to a name, and maybe take a ride, you probable know that area much better then I...We go maybe once or twice a month, again, for lunch ride,

Ronnie

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Burnerboy said:

Excellent idea there, Frank, thank you, I'm calling tomorrow morning!

Hey when we go to Scotties (restaurant) golf course (just past Look park) for a lunch ride (I don't golf) would you be interested in meeting, love to put a face to a name, and maybe take a ride, you probable know that area much better then I...We go maybe once or twice a month, again, for lunch ride,

Ronnie

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56Elwood said:

Guys, don't know if this helps. When I got my trike back in 2015 I contacted Liberty Mutual since I've had them as a carrier for over 30 years. I was told that they didn't cover trikes so after some shopping I went with Geico. I bundled two bikes and my car and got great rates. Actually cost me slightly less to cover a bike and the trike with Geico than just the bike alone with LM. I've only had to use them for a claim one time (with the car) and I couldn't be happier with how I was treated. I highly recommend them.

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frankj said:

Thanks this does help, what I now need to do is shop around and find what's good for me, meaning finding a new insurance agent. I've been with my local carrier for 50 years and dealt with the same agent for almost 30 years, problem now is I've dealt with 3 different agents in the last 6 weeks. The latest episode is I'm having my trike conversion done in NC which is about 800 miles from me, I'm going to fly down and ride it home, my agent says it is considered an accessory, but they need one of their people to come and do an appraisal of the trike before insuring it. I asked what are they going to appraise, I have the receipts for what it consists of and the cost.

I then said, so I'm going to ride 800 miles and not have any insurance on the trike conversion until you see it, correct? and she said sorry, but yes. What I've learned about this experience is, ask and the agent how long have you been working there, how many trikes have you personally insured.

Frank

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56Elwood said:

Not to sound like a shill for Geico but everything with them was seamless. I was on the computer at the time of my phone conversation with the rep from Geico and it was all done in real time. They actually had the Hannigan information on their end, don't know if it was from previous customers or not. They e-mailed me all the documentation right then and there I didn't even have to visit the RMV. (thank God because in Massachusetts that's like a death sentence, right Ronnie?) Swapped the plate from my Softail and the rest has been pure joy.

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Marc H said:

Insurance varies from state to state.Coverages,differences in offering from companies,ie a company may insure a product in one state but not in another.With that said if your agent says your ins is not going up when your adding a $12-15k accessory you better be asking questions.With my agent in my state a motorcycle policy has includes x amount for accessories whether you have any or not.The trike is counted as an accessory so you have to raise that amount by enough to cover it otherwise your getting your base amount and whatever they give for your bike.

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Burnerboy said:

Ouch! Frank, you may have just opened up a "very large can of worms" here, BUT in a very good way, interesting thought(s) here.. looks like a phone call to my Ins Company, will be in order, BEFORE anything does happen... and were left out in the cold, with very high maintenance costs ......Hmmmmmmmmmmmmm thank you!

Ronnie

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frankj said:

Thanks this does help, what I now need to do is shop around and find what's good for me, meaning finding a new insurance agent. I've been with my local carrier for 50 years and dealt with the same agent for almost 30 years, problem now is I've dealt with 3 different agents in the last 6 weeks. The latest episode is I'm having my trike conversion done in NC which is about 800 miles from me, I'm going to fly down and ride it home, my agent says it is considered an accessory, but they need one of their people to come and do an appraisal of the trike before insuring it. I asked what are they going to appraise, I have the receipts for what it consists of and the cost.

I then said, so I'm going to ride 800 miles and not have any insurance on the trike conversion until you see it, correct? and she said sorry, but yes. What I've learned about this experience is, ask and the agent how long have you been working there, how many trikes have you personally insured.

Frank

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Burnerboy said:

Frank, I'll see what I can (do/find out) for you....excellent questions/concerns here>....

Ronnie

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