Geico Motorcycle Insurance - Insurance 101

Always Have Protection

We all take pride and joy in our motorcycles. Unlike our four wheeled vehicles, we tend to put more time, effort, devotion, and often money into the upkeep, and continual customization of our bikes. Therefore when it comes to insuring our bikes a lot of questions tend to arise, such as "what if I get in an accident," or worse "what if my bike is stolen, how will I get all that money back that I put into my bike?"

Well, the staff here at HOT BIKE had a lot of questions about insurance too, so we decided to hit up a couple of companies, GEICO and Progressive Insurance with some of the more common questions that tend to arise.

GEICO Insurance

HB: What kind of insurance do you offer for motorcycle riders?
GEICO: We offer liability coverage for asset protection, medical payments coverage, and uninsured motorist coverages for potential medical bills, and comprehensive and collision to protect riders' bikes. In addition to these insurance coverages, GEICO recently expanded its accessory coverage to be able to meet the needs of our motorcycle customers. We asked our customers what they wanted, and weve learned how much they like to make their bikes their own. As a result, we went ahead and expanded our accessory program to suit their needs. We also provide very affordable, around the clock, Emergency Roadside assistance.

HB: What insurance do you offer for custom motorcycles?
GEICO: We offer the same coverages mentioned above for all kinds of different types of motorcycles. At GEICO, we strive to try and take care of all the things that move you.

HB: What insurance discounts do you offer for riders?
GEICO: We offer competitive rates for many different riders and bikes, but our actual discounts include a transfer discount for transferring to us from another insurer, a discount for having an auto policy with us as well, a Motorcycle Safety Foundation course discount for completing an approved motorcycle rider training course, a multi-bike discount, an anti-theft discount, and a Mature Rider discount that recognizes safe driving history for our older riders.

HB: What kind of things can affect my policy rates (eg. tickets, accidents, DUI, modifications)?
GEICO: Tickets, accidents, DUIs, and modifications can all affect your policy rates. Rates can also be influenced by many other factors including but not limited to age and physical location.

HB: Do you offer discounts for anti-theft systems (alarms, GPS tracking systems)?
GEICO: Yes we do. We are proud to announce that we now offer discounts of up to 20 percent off comprehensive coverage that vary by the type of device. Recognizing that fraud and theft rises when economic times are worse, we proactively went out and established anti-theft discounts in every state. We are currently insurance partners with Lo-Jack & RoadLok and we encourage our customers to contact us regarding their anti-theft devices so we can make sure they are receiving the appropriate savings.

HB: What unique insurance services do you offer for motorcyclists?
GEICO: We have the benefit of 31 years of experience with motorcycle specialty coverage. As far as our policies, we include $2,000 of accessory coverage on every policy with comprehensive or collision, and we offer many motorcycle-specific discounts to take care of riders; we understand what bikers want in an insurance company and make sure we provide each one with a customized policy. Our rates are competitive for many different bikes and riders in many different areas and we have the same great service and rates whether you need automobile, RV, motorcycle, and/or ATV insurance. The more policies you have with GEICO, the bigger the savings.

HB: What performance enhancements can I add to a stock bike that won't increase insurance costs?
GEICO: Most enhancements will not increase the price; however, we recommend contacting your insurance agent to make sure your policy covers your needs and there aren't any surprises in the event of a claim.

HB: If I replace my stock Harley Twin Cam with a much larger (120 ci +) motor, how much more can I expect to pay for motorcycle insurance?
GEICO: GEICO frequently covers large cruising and touring bikes at competitive prices, but different customizations may result in different rates. In general, the more expensive a bike becomes, the more it will cost to insure it.

HB: If I build a ground up custom bike what do I need to I get it insured?
GEICO: Please call one of our licensed agents to get a personalized quote, since rates and availability vary for each individual bike and rider. We'll do our best to try and accommodate your needs in a timely fashion.

HB: If I have a stock bike and over the years spend a ton of money on customizing it, how can I make sure my bike is insured for the value I have into it?
GEICO: GEICO includes $2,000 of accessory coverage for any policy with comprehensive or collision coverages, and we can add coverage for up to $20,000 of extra accessories in most states. It's important that you advise your insurance company if you would like additional coverage for customizations.

HB: What if my bike is stolen, what do I need to do to make sure I get the most out of my policy?
GEICO: Every policyholder can take advantage of GEICO's superior claims service if a theft were unfortunately to happen, but to make sure you get the most out of your policy, make sure you keep receipts for additions to your bike, and make sure you make us aware of the additions so we can give you proper coverage for the bike's full value.

Progressive Insurance

HB: What kind of insurance do you offer for motorcycle riders?
Progressive Insurance: It's similar to what we offer for cars. Liability (bodily and property), physical damage (you and your property), collision and comprehensive (which includes theft and animal strikes), accessory coverage (included w/ collision and comprehensive up to $3,000). You can get up to $30,000 for other modifications beyond that for custom parts.

HB: What insurance do you offer for custom motorcycles?
Progressive Insurance: We only offer liability for ground ups, but not comprehensive and collision because there's no way to settle a claim. If a lot of your parts are one offs, how do we replace them? We won't offer physical damage coverages because it's usually so difficult to replace or repair the bike. With semi-custom or production customs, however, we will offer you full coverage.

HB: What insurance discounts do you offer for riders?
Progressive Insurance: The full gamut. Our safety course discount is 5 percent, the pay in full (for your annual insurance) is 10 percent, homeowner is 20 percent, multi-bike owner is 35 percent on each machine with no limits on the amount of bikes owned.

HB: Do you offer discounts for anti-theft systems (alarms, GPS tracking systems)?
Progressive Insurance: Yes, Lo-Jack could be up to 65 percent (varies), and anti-theft is 20 percent on the comprehensive portion.

HB: What unique insurance services do you offer for motorcyclists?
Progressive Insurance: A few. Most of us who work with bike insurance are also riders. We're business people first and riders a close second. Roadside assistance is available for $10/year in most states, which is sign and drive for no cost out of pocket (which is great if you're stuck in the in middle of nowhere), total loss replacement (we will cut you a check for total loss for current model year even if it's not a current year model, no questions asked, for new or used bikes), trip interruption (if your bike disabled 100 plus miles away from home, we'll pay up to $500 for hotel, food, and alternate transportation up to $500 per occurrence; when you call us, we tow the motorcycle to the nearest shop; coverage is $5,000/year).

HB: What performance enhancements can I add to a stock bike that won't increase insurance costs?
Progressive Insurance: Most anything except nitrous, turbo blower, or a supercharger; we add a 50 percent surcharge for those. There's no surcharge from us for other modifications even if you drop in a big inch engine.

HB If I build a ground up custom bike what do I need to I get it insured?
Progressive Insurance: Generally, you can get insurance so long as your motorcycle is listed in Kelly Blue Book or NADA.

HB: If I have a stock bike and over the years spend a ton of money on customizing it, how can I make sure my bike is insured for the value I have into it?
Progressive Insurance: A $3,000 accessory coverage comes standard but you'll want additional accessory coverage.

HB: What if my bike is stolen, what do I need to do to make sure I get the most out of my policy?
Progressive Insurance: Call us, tell us, we take it from there. Extra coverage (or not), make sure you have side view pictures and sales receipts for accessories so we can verify and pay you for them, always good to keep receipts and have the photos.

HB: What kind of things can affect my policy rates (eg. tickets, accidents, DUI, modifications)?
Progressive Insurance: All of them. Rolling out (we have to meet individual states laws so it takes a while to roll out) when you renew, you get a 5 percent discount if you didn't file a claim, if you do and it's under $500, there's no surcharge increase (note: if you have two claims at $900 with a $500 deductible each time, there's no increase when you renew).