HoMo Policy Coverage

G. Gearloose

Pigment of ur imagination
Joined
Jul 24, 2000
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#1
I searched before posting, but no avail,

I recently inquired about my theft coverage on our bikes under homeowners policy and found out we could be without any theft protection…

So turns out the bikes are only covered for liability in my own yard… No surprises there yet…..

First the agent was worked up that I said they had off-road plates. His response was they need individual policies because the bikes were ‘registered’ (in other words - taxed) so I took that as a clue my agent was confused so I asked them to do some research.

BUT this is what sounds wicked bizaah…he replied he thought the bikes are not within the scope of ‘land conveyance’ vehicles (riding lawnmower, tractor for his example) and even theft from my shed is not covered. WHAT?

Additionally, my boat insurer thought my boat was covered off-season under homeowners too, if stored on my property. But I inquired with my agent about that and they replied no again, they’ll cover a small craft under $1000. But I recognized the double standard because boats are registered too. But if a tree falls and crushes my boat, I’ll get back only very fractional value.

Thought I’d share and start a topic to clear this up and perhaps we can be more wary of ‘assumed’ coverage. I suddenly find ourselves underinsured and very confused.

Any insight out there? Do I deserve a PhD in duh or are they blowing smoke up my south end?
 
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Joined
Jan 6, 2000
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#2
The homeowners policy is very limited on the coverage of "dirt bikes" I have been iquiring for some time now regarding insurance on my dirt bike. I live in N.C. N.C, S.C, and New Jersey are 3 states which have very limited but changind views on dirt bike coverage. The underwriter of the policy is the one whom truly makes the decision wheter or not to provide coverage for the risk. I recently was able to get theft, vandalism, fire coverage on my dirt bike (99 300 EXC) at a replacement value of $7000 under my auto policy from Nationwide. Cost is $120 / year and I am covered anywhere I take my bike. So... I'm covered at home, on the trail, or if I travel somewhere out of state to ride (ie Hatfield / McCoy). Check with your insurance carrier about coverage under your auto policy. Hope this helps some.
Rick
 

JuliusPleaser

Too much of a good thing.
Joined
Nov 22, 2000
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#3
I Smell Smoke

I asked my agent about HomO coverage a couple years ago, and he told me I was covered. When I bought my 250F, I asked him if my bike would be covered under my (now renter's) policy. NOT! I had to take out a separate policy for each bike. $210 for both annually through Nationwide. SUCH a deal!