Insurance on bikes in garage

You won't find it

It's excluded. You do understand what that means?

 

You're looking for coverage based upon location

That isn't how insurance works

 

Why would I want to waste money doing that?

 

Last week, I changed coverages on everything I own, due to use changes. I was told homeowner’s does cover bikes being stored (not plated) in the garage. If one is going to plate and use it on the road, it needs appropriate coverage for that, which then takes over coverage of the bike.

Under my SF policy, property inside my trailer is not covered. I had to takeout another policy for contents, from a different company (Pekin Insurance).

 

Not sure why YOU would, but in my case I am very soon going to have all of them under one roof and that makes me nervous, I live in a high fire hazard area and although I have no desire to pay for comprehensive insurance on each vehicle separately, I do want them covered against theft or fire when in my garage because losing them all, all at once would be costly. I thought up until recently that they were covered by homeowners insurance in case of a fire but they aren't. Even my umbrella policy doesn't cover them.

 

To be specific, there is a section in the homeowner policy titled "Types of personal property NOT insured" and it says:
"We do not insure:
and then lists a variety of things (which I would consider exclusions, but maybe I have my terminology wrong), including item #6:
"Motor vehicles"
which is followed by certain types of motor vehicles they DO insure : "however we do insure: lawn and garden equipment used on the property for maintenance purposes, motorized wheelchairs, non-registerable golf carts..." etc.

I was considering "motor vehicles" as an exclusion that I found in the policy, is there a better way to say it, if I am talking to an agent?

 

you don't frequent the "book of faces" do you ? Nearly every day i read a post about someones bike being stolen. Brazen stuff, right out of a garage of nice neighborhoods in some cases.
Have you seen the cases of entire trailers full of road race bikes getting stolen? Nate Kern was a memorable example. Right out of the hotel parking lot, 4 expensive (1 or 2 nearly irreplaceable) BMW's. Word got out and he luckily got them back but all the gear, tools, etc was long gone.
I've been to national enduro's where one time at Sumpter NC, 17 bikes were stolen from a few local hotels..
Another quick example, buddy here in Tampa had 2 nearly new KTM dirt bikes stolen from his garage. Somehow, his homeowners paid him but dropped him. He insured the 2 new bikes he got to replace them, insured them with another carrier, TWO WEEKS LATER those bikes were stolen too. he got paid. Lost money on all accounts... (not a insurance scam job)

 

When I was roadracing I just carried full coverage on the race bikes for just this reason. At the time it was like $100 a year for whatever 600 I had so pretty cheap. I just didn't bother telling them that it was a race bike because I was only concerned about it getting stolen, house burns down, etc.

 

i would get that in writing from the person that told you that, AND GET IT IN WRITING WITH THE POLICY, AND HIGHLIGHTED. i am guessing an agent told you this. as stated above, agents are not the be all end all. when it comes down to it... just like you quoted, the contents of the trailer are not covered (because no premium was received on the bikes), the contents of the garage (bikes) will not be covered.

dont take what you heard last week as gospel. you will find out the hard way, if you were to experience a theft, your bikes are not covered by the home owners policy in the garage.

15 years as an insurance adjuster. Ski

 

You'll likely find a section called "Definitions" where it defines a motor vehicle

 

I just looked through my new Geico insurance policy paperwork, and see nothing excluding a motorcycle that isn't registered for street use... only that it be something designed for use on public roads. I also see nothing that would exclude damage caused if you're in an accident and it is in the trailer. Of course it could be buried in some language I don't see...

For me the discount of having a 3rd bike on the policy is greater than the cost of comprehensive on an old SV.

 

Yes, it says:
17. Motor vehicle - means:


a. any self-propelled vehicle or any self-propelled machine, whether operable or not, which is designed

for movement on land or on land and in water, including by way of example but not limited to any


type of automobile, hovercraft or air cushion vehicle;

b. parts, equipment, machinery, furnishings or accessories attached to or located in or upon such vehicle


or machine described in subsection a. above; and

c. any trailer or semi-trailer which is being carried on, towed by, or hitched for towing by a vehicle or

machine described in subsection a. above.


>>>>>
The way I read it my homeowners policy says no coverage for motor vehicles in my garage except motorized wheelchairs, lawnmowers or other lawn equipment used for maintenance of the property, golf carts that are not registerable and only used on the property or on a golf course, and 'recreational vehicles designed for off-road use that are used only on the residence premises, such as ATVs.' I presume that last bit would cover an utility ATV I have, and maybe the little CRF50 but probably NOT the MD250H.

 

I haven't filed a claim. But they were very good to work with while getting signed up. They also insure most of the trackdays groups etc so I guess I trusted that.

 

You've got it!

Remember, it's only if it's used only on the residence premises.

Check for Limitations also,

Boats and trailers are typically limited as to what they will pay out in a loss, typically $500

 

Are you sure?

If so, then it must vary by state, because they will NOT cover mine.

I forget how they stated it, but they worded it, but they worded it in a way that doesn't include shit like lawn mowers and weed eaters. But basically they said that anything with its own motor must have its own insurance policy.

 

What the OP needs is Comprehensive. That's what Ive always carried on race bikes.

It covers them in the event of a fire, theft, etc. But does not cover collision or liability.

 

Agreed (I'm the OP), but so far I can't find a company that will provide comprehensive on my bikes. They are not street legal, like the Moriwaki 250 (MD250H) . Not in their database, they won't insure it.

 

I'll call them, so far they appear to be the only ones with the type of coverage I'm looking for. Thanks for the info.

 

There have a been a couple of times when SF didn't like the idea of starting a new policy just for Comprehensive. So what I did was get full coverage, wait a month, then drop the other shit leaving Comp only.