MX Bike Insurance..... Got any?

[Smit-Dog]

Here in Michigan, each and every insured motor vehicle (dirt bikes included!) get assessed $100 per year above and beyond the regular insurance premium. This assessment is used to fund the MCCA, Michigan Catastrophic Claims Association. Funds from the MCCA are used to cover (duh) catastrophic claims, as Michigan (the only state in the U.S.) has an unlimited claim dollar amount!

... And State Farm tacks on an additional $12 "administration fee" on top of each $100 MCCA assessment.

2 bikes and 2 cars... you're talking an extra assesment of $448 per year.

:flame:

 

[mxer842]

i hadn't even thought about insuring my bike because i thought it was covered by homeowners but it isn't. i found out the hard way and had my bike stolen in may. whats a bitch is that if i had hooked my trailer up to our truck the night before instead of planning to do it the morning of the race it would have been covered by auto insurance. here it is now almost december and im still bikeless so it is definetely worth it.

 

[Okiewan]

Typically, homeowners insurance does NOT cover motorized vehicles unless they are used to maintain the property; ie... lawnmower, riding mower, etc.

 

[Senior KX Rider]

I asked my agent (State Farm) if my homeowners policy covered dirtbikes and he smiled and said yeah. :) They will pay up to $1500 on one :scream:

 

[Erick82]

Thanks, for the info. Senior KX, I have home coverage through State Farm.

 

[Smit-Dog]

Funny, my State Farm agent said "no". Maybe it varies by state. :think:

 

[Senior KX Rider]

I would advise anyone that isn't sure to directly ask their agent and be specific. I interrogated my agent. ;)

 

[Neil Wig]

My bikes are insured under my house insurance. They are insured by value, and liability. No real consideration that they are OHVs, other than the liability.

 

[Erick82]

I have a seperate policy for my newer bike (02 RM250), but I don't have a seperate policy for my old bike, so it might be covered under my home owners. What state do you live in Senior KX.

 

[TrailDale]

Progressive has additional multi-bike discounts and really cheap rates for dirt bikes. The more bikes, the greater the overall premium discount on all of them. The premium dropped on all the bikes when I added a 4th bike (XR70) and was actually cheaper in total than what I was paying for 3 bikes!
A YZ250F cost $74 a year for comprehensive and includes collision with a $100 deductable. $14 for an XR50 is about right.

 

[Senior KX Rider]

I'm in Indiana Erick

 

[Smit-Dog]

Senior - Looking to get the real deal on this homeowners coverage with State Farm, I again asked my State Farm agent about it. He emphatically stated that a State Farm homeowner's policy would not cover theft/fire/damage of a dirt bike. Although he did say that some insurance coverages will vary by state, he was also pretty sure that a S.F. homeowners policy would not cover a dirt bike in other states.

So, to find out if S.F. homeowners coverage is different in Indiana, I sent an e-mail to an agent there. This is his response:

Bill, an off road dirt bike is not covered under a homeowners policy. The
only engine or motor propelled vehicle or machine that is covered under a
homeowners policy are:

1. ones used solely to service the insured location (ie lawnmower, tractor,
ATV - if only used to maintain premises) and

2. ones designed for assisting the handicapped.

An off road dirt bike would need a separate policy if coverage is desired.

Hope this helps. If you have further questions, please let me know.

Keith Eberg, Agent

You might want to interrogate your agent again just to be sure. Get it in writing in case you need to file a claim.

 

[Senior KX Rider]

I'll have to grill him again. :|

 

[Okiewan]

That's what my agent said as well.

 

[High Lord Gomer]

OUCH! I just checked Progressive for the minimum coverage I could get for:

• 04 CRF450
• 03 CRF450
• 02 XR50
• 00 YZ250

...and they said $787 a year with $250 deductible. Going to $500 deductible only saved $17 a year and dropping the 00 YZ off only saved $73.

Looks like I have some more shopping to do. :(

 

[Smit-Dog]

Try www.bike-line.com

 

[High Lord Gomer]

Originally posted by Smit-Dog
Try www.bike-line.com

Thanks!  They seemed the most knowldedgable that I talked to, but their cheapest was $901. :(

 

[Okiewan]

What about thru your current agent?

 

[High Lord Gomer]

We have USAA auto insurance. They don't write OHV policies directly, they merely act as an agent for Progressive.

We have State Farm for the house and they have that pesky little condition about cancelling / invalidating your policy if you race.

It's looking like I'll have to go with Progressive.