You finally took the leap and purchased that motorcycle you had your eye on for some time. Now you have a chance to feel the excitement of the open road, going wherever the wind may take you. Of course you know you need the right coverage to protect your new investment and your liability. What about motorcycle theft insurance? This coverage can be an important tool to give you peace of mind and keep your investment in your bike safe no matter what (or who) comes your way.
Motorcycle Theft Facts
- Only 26% to 32% of all stolen motorcycles are recovered
- 60% of motorcycle thefts are “hoist” incidents where the bike is lifted into another vehicle
- Most frequently stolen bikes: Honda, Yamaha, Suzuki, Kawasaki and Harley Davidson
What Is Motorcycle Theft Insurance?
Now that you are on the hunt for the right insurance, you may find yourself wondering whether it is possible to find motorcycle theft insurance. This is a coverage that is typically included in the comprehensive portion of your motorcycle insurance policy, and it pays to have a good look at that coverage with your agent to make sure it is the right amount to fit your needs.
As with an auto policy, there are many options for your motorcycle insurance policy. These include bodily injury liability coverage, medical payments or no-fault personal injury protection coverage, property damage liability coverage, collision coverage, comprehensive physical damage coverage, and underinsured or uninsured motorist coverage.
Tips for Motorcycle Theft Prevention
Whether you have an on-road bike or a dirt bike, a speedy “crotch rocket” or a cruiser designed for long trips on the open road, your bike is at risk each time it is unattended. How can you thwart the efforts of thieves who want to make off with your treasured possession?
Prevention is always best, especially with the grim figures about recovering stolen motorcycles. While there is no one single method to prevent theft of your bike, there are a variety of innovative and cost friendly ways to reduce the likelihood that your motorcycle will become a statistic.
- Park your motorcycle in a locked and secure garage. Parking on the street gives thieves the biggest advantage. If you do not have a garage, move the motorcycle or moped into a driveway or an alleyway where it is either less visible.
- Make your bike more inconspicuous. Consider buying a plain cover that has no markings, logos, or bright colored patterns on it. If a thief is unable to judge the brand or model, they are far less likely to go to lengths to remove the cover.
- Add in some extra security – always use steering lock. The steering lock is another defense that will make it difficult for your motorcycle to be loaded or lifted easily. You can lock your motorcycle to a solid and stationary object such as a building or pole. Many individuals use more than one type of lock, like serpentine link locks and u-locks that cannot be cut with a standard bolt cutter.
- One of the most commonly overlooked devices is an alarm or an immobilizer. It is one of the best physical deterrents available in way of motorcycle theft prevention. You can also consider a GPS tracking mechanism that makes it possible for authorities to track the location of your motorcycle if it has been stolen.
Getting the Right Motorcycle Theft Insurance
If your bike is stolen, your motorcycle theft insurance is your next line of defense. When you talk with an agent, make sure not only your bike but any accessories you have purchased are covered as well. These include after-market upgrades, gear, bike saddles, and helmets; you can get coverage for theft or damage of any of these items.