Check the Terms of Your Insurance!

protondecay123

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There's an ADV inmate from Colorado that had his 2001 BMW Dakar stolen from the parking lot of his hotel in Colorado Springs while heading to Westfest. It hasn't been recovered, however he checked with his Insurance Agent with Progressive and his "full" Coverage did not cover " Theft Loss". ::007::This is shocking to me and I don't have Progressive, but I am checking the terms of my "full" coverage as well. Is this common in the motorcycle insurance industry? ::024::

Here's a link to the thread

http://advrider.com/forums/showthread.php?t=812158
 

Cykel

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Comprehensive is pretty typically thrown into it's own category, although you would certainly think "full" would mean it includes it. I've always specifically chosen my comprehensive coverage though...and it's usually very cheap relative to other coverages.

For what it's worth I've had two silky smooth interactions with Progressive claims, one of which was an attempted theft.

I know it doesn't help his case any...just saying. Situation sucks for sure. Watch your bike in Colorado! Seems they've been disappearing frequently.
 

protondecay123

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I just looked at mine. Theft loss is only covered if I have a " stolen vehicle recovery system" installed by a certified technician at an authorized dealer, registered in the manufacturers database, maintained in accordance with the manufacturers recommendations and requirements , activated by silent radio signal or automatically triggered , immediately alerting you and a call center of theft with GPS tracking.
SOL right now.
 

Twisties

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Progressive in Utah includes theft and larceny in the "Comprehensive" coverage. So far as I understand this is the same as any typical vehicle policy in the U.S.
 

protondecay123

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Yeah, looking through my paperwork my Comprehensive section says Collision and Other Than Collision for Theft Loss or Larceny. However when I read the fine print it stated the above. I'm not saying your wrong at all and I'm glad that you've got Good Coverage. These Insurance Agents aren't explaining everything fully it seems. I'm just saying read all the details. I've got to see if I can get better theft loss coverage than that. I've never investigated the pro's and con's of LowJack or other Stolen Vehicle Recovery Systems. :eek:
 

~TABASCO~

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Thanks for this info.. That's nuts.. I'm calling and checking on this tomorrow....... ::008::
 

terrysig

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Boy that goes into the No Sh!t! catagory. Nothing obvious in the Nationwide policy but will confirm with agent. Thanks.
 

joneil

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First of all, Thanks to everybody for all the help you have given me. I've been lurking in the background for a while now reading and learning. Now as it turns out, I might have something to offer.

I know a little about Lojack and GPS tracking devices. First concern is, where are you in this country of ours. If you're in a major city, LoJack will probably be there. If you're out riding in the places that make a Super Tenere worth having, there will be little help from Lojack. Without boring you with too much detail, bike gets stolen, you call 911. If, you are in your home market, and if Lojack is tied into the 911 system there, you've done all you need to do. So you can now sit back and wait to see if they find it. The 911 system will send an alert to the LoJack box on your bike. If the bike is in range and receives the signal it then begins sending a signal identifying itself. If a patrol car equipped with the Lojack locating equipment gets close enough (usually a couple of blocks), and the officer isn't busy, it might actually be recovered. Those are a lot of ifs. In my mind it's not worth it.

GPS tracking systems are a little different. You can log on to a web site and see where your bike is in almost real time. If, it's in an area that is covered, if you can remember the website address and user id and password. If you haven't already exceeded your number of "Pings" to track your bike. If you have renewed the annual subscription for the service.

I think the best bet is park in a safe place and read your policy.
 

protondecay123

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Yeah, I just checked and LoJack isn't even available for my area. It cost about $1000. Anyone have any ideas regarding stolen vehicle recovery systems? It may be better to redo the insurance.
 

joneil

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With regards to the Stolen Vehicle Recovery systems. Forget about the cost of the equipment, the annual subscription would certainly be more than the annual increase in premium from your insurance company if you decided to up your coverage.
 

Combo

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I just called Progressive and I have theft coverage without requiring any anti-theft devices installed or maintained. With a vehicle recovery system installed it will save you a few bucks on your insurance with Progressive is all. She was in Colorado and did not know of any requirements or restrictions for theft coverage on your bike from Progressive.

Sounds like He thought he had full coverage insurance. ???



protondecay123,

What Insurance company do you have?
 

Combo

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I feel his pain. This happened to me in 2000 with a XR650L when I Had forgot I had changed that bike to liability only when it was stolen out of my garage :mad: :(

Never a good feeling on the phone when they tell you you are not covered. ???
 

jajpko

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Man, I'm not hanging with you dudes... Too many stolen bikes.. ::025::

Seriously, I will have to call Nationwide in the morning just to make sure.
 

JonnyCinco

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Progressive is a rip off anyways
 

Twisties

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JonnyCinco said:
Progressive is a rip off anyways
Huh? I think it pays to shop around every few years. Rates will vary by market, and other specifics. But I will say that I did that shopping two years ago ended up with Progressive as the least expensive option for us at the time, here. Paying significantly less than half what I was with Farmers for our overall portfolio of vehicles. We are involved with a claim with them right now, and I don't have much good to say about their responsiveness or process, but I expect we will get what is due to us shortly. I have carefully read the policy several times and I find minimal BS. At a loss to understand your rather strong feelings. What's up?
 

klunsford

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I have Geico and just checked mine. Geico's full coverage insurance does come fire, theft, larceny and any other way it would disappear. I changed from Progressive a couple of years ago because I just got a better deal with Geico and a lower deductable.

Kevin
 

Karson

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Just pinged my insurance guy - I have progressive, so we'll have to see how much that coverage increases my premiums. until tomorrow...
 
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