What Happens if My Bike Is Damaged while In Storage?

The agents of Alliance Insurance Services are able to offer accurate and reliable insurance information to their clients to help them protect their property from financial loss. If you live in the Arvada, CO area or the neighboring communities, you can get the answers you need concerning ensuring your motorcycle all year long, even during the months it’s placed in storage due to the changing of the seasons.

Storage Insurance

When you winterize your bike and put it in storage, it means it won’t be on the road for at least three or four months. Many bike owners continue to carry their motorcycle insurance in case of any damage that may occur while the bike is stored. Some insurance companies offer their customers a reduced rate during this time because there is no public liability or risk of property damage to another person’s property.

What You Should Do

Your bike can be damaged during storage, especially if it is stored at a public facility with other types of vehicles. It can fall over or have something fall on it, damaging the paint, breaking mirrors, or doing many other types of damage. If this occurs, your first step is to file a police report and then file a claim with your insurance agent. The facility where you store your bike should carry some type of liability insurance. If they don’t, your policy will be the one that must pay for the damage.

In Arvada, CO, you can turn to the agents of Alliance Insurance Services for all of your insurance need. Whether you are putting your motorcycle in storage or taking off on a cross-country vacation, they have the answers you need. Call and schedule an insurance review today!

Do I Need Comprehensive Coverage on My Motorcycle Insurance Policy?

Riding a motorcycle on the open road is a great mode of transportation and can be a lot of fun. While motorcycles can be great recreational vehicles, they are also expensive assets that should be insured.  While most people in the Arvada, CO area are aware that they need to have liability insurance in order to be in compliance with state laws, many could also benefit from having comprehensive insurance coverage.  There are several factors to consider when deciding whether you should have comprehensive insurance coverage on your motorcycle.

Cost to Replace

The first factor to consider when determining if you need to have comprehensive insurance coverage is what the cost to replace will be.  If you cannot afford to replace the motorcycle out of pocket, comprehensive insurance is a necessity as it will provide you with coverage for a variety of situations including theft, vandalism, or damage in some types of accidents.

Loan or Lease

Another important factor to consider when determining if you need comprehensive insurance coverage is if you have a loan or lease on the motorcycle.  If you financed the purchase of the bike with a loan or a lease, the financing provider will undoubtedly require you to have a comprehensive insurance policy in place.  If your bike happens to be stolen or damaged beyond repair, the comprehensive insurance will help you to pay off the loan and outstanding lease balance.

When you are looking for your next insurance policy for your motorcycle, speaking to the Alliance Insurance Services \would be beneficial.  Alliance Insurance Services will be able to help Arvada, CO area residents better understand their insurance needs.  This can include helping them to build a policy that provides the right level of coverage.