What is motorcycle accessory coverage? A lot of motorcyclists are aware that their bikes perform more than just transportation duties. They often portray individuality and personal style. As a result of this, many motorcycle riders spend substantial amounts of money on a variety of customizations and upgrades to improve their bikes, such as sophisticated navigation and exhaust systems.
However, in the event of an accident, some motorcycle accessories may not be covered by regular motorcycle policies. Hence the need to purchase motorcycle accessory coverage for adequate protection. If you have motorcycle accessory coverage, it helps to reduce the worry of potential loss in the event of theft, damage, or accidents.
In this comprehensive write-up, we will discuss the intricacies of this overage, how it differs from regular coverage, and the advantages it offers to riders who seek to safeguard their financial interests.
What Is Covered By Motorcycle Accessory Coverage?
Essentially, motorcycle accessory coverage offers protection for the extras added to your bike. If an accident occurs and some accessories on your bike get damaged, this type of coverage will pay for all related costs. Here are common examples of accessories that are protected by this coverage:
- Electronics
- Custom paint
- Custom wheels and seats
- Chrome pieces
- Handlebars
- Saddlebags
- Windshield
- Fairings
- Luggage racks
- CB radio
- Custom chrome
- Helmets
- Light bars
- Safety guards
- Highway pegs
- Cruise control
While motorcycle accessory coverage is most likely to cover the aforementioned accessories. It is important to read the fine print of the policy carefully. This would enable you to have a better understanding of the exact coverage it offers, including the exclusions as well. The type of motorcycle accessory coverage you get largely depends on the insurance company you are buying from, so it is always good to confirm if the insurer offers the exact coverage option you seek.
How Does Motorcycle Accessories Coverage Work?
Most people who have motorcycle insurance are required to include both comprehensive and collision coverage on the policy. If you have these two types of coverage on your policy you need protection for the upgrades you made on your bike. Then you also need to include motorcycle accessory coverage. If you need to replace or repair certain accessories on your bike, your motorcycle accessory coverage will cover the cost, ultimately lessening the financial burden.
Some insurance companies that sell motorcycle insurance policies apportion part of the policy for accessories and custom parts/equipment (CPE) overage. The coverage limit you need for the motorcycle accessory coverage will be specified by you, depending on the type of insurer you work with, but in most cases, you may be allowed to choose the limit of your coverage on your policy.
Do you need motorcycle accessory coverage?
Whether or not you need motorcycle accessory coverage depends on how much you value your bike, including the worth of the accessories you’ve added to it. If you are the type of person who includes extras and upgrades to your motorcycle. Then purchasing motorcycle accessory coverage alongside your regular motorcycle policy can be an ideal option. Regardless of whether you are buying a new or used motorcycle, purchasing this type of coverage provides maximum protection in unanticipated situations like accidents or theft.
The primary purpose of motorcycle insurance is to protect what the manufacturer of the bike has offered. For enthusiasts who prioritize the outlook of their bike. You wouldn’t want to leave your bike at risk in ugly situations that can cause you financial stress. This type of coverage ensures that motorcyclists do not face substantial out-of-pocket expenses to repair or replace accessories if an unforeseen situation occurs.
In essence, motorcycle accessory coverage is worth it for riders who seek peace of mind and financial security, knowing fully that their investment is safeguarded.
How to Insure Motorcycle Accessories
If you seek a safety net for the accessories and upgrades you’ve made to your motorcycle. The first step is to reach out to your insurance company and inquire about options that you can explore. In this process, you will most likely be asked to add motorcycle accessory coverage to your standard motorcycle insurance.
Most insurance companies view accessories as entirely different from the bike itself. So the type of coverage you are purchasing will be entirely different from the regular policy you had. When you file a claim with your insurer for damaged accessories, your motorcycle accessory coverage will reimburse you for the cost of repair or replacement.
How to Ensure You Are Adequately Covered
Motorcycle accessory coverage is an additional type of policy riders opt for to protect the extras made on their motorcycle. To ensure you are properly covered, there are a few things you need to check to see if you have the right amount of coverage for your bike’s accessories.
Find out which item is in stock on your motorcycle
It often makes sense to find out the manufacturer’s specifications of your motorcycle. This is to enable you to know the items that were on your motor when it left the factory. It’s possible that the dealership or person you bought it from added items to the motorcycle that would be viewed as accessories.
Compare your motorcycle to the manufacturer’s specifications
Comparing your motorcycle with the manufacturer’s specifications gives you an insight into how much coverage you will possibly need. Check for items and other things that are not listed in the manufacturer’s specs to streamline the process. Additionally, remember to list essential items like helmets, goggles, riding boots, etc.
Evaluate each accessory
To do this, go online and research different websites or stores to confirm the actual worth of the accessories on your bike. If you also have receipts, it would make the process a lot easier. By doing this, you will have an idea of how much coverage you need to insure your bike’s accessories. You can speak to an insurance agent to guide you through how to choose the right coverage option and limits.
Bottom Line
Undoubtedly, motorcycle accessory coverage serves as a safety net for motorcyclists if accessories on their bikes get damaged due to an accident or any other potential risk. You can always reach out to your insurance company if there are adjustments you need to make to your policy or if you need clarifications as regards the type of coverage you have.