You wake up one morning and look out the window. Your motorcycle is not where you parked it the day before. You immediately realize that someone has stolen it! That’s a very unsettling feeling. What do you do to get help? Will your auto insurance cover your losses?
Whether your motorcycle insurance will help will depend on your coverage itself. Still, as soon as you notice a theft, take action. The faster you react, the better your chances of recovering the vehicle.
Steps to Follow When Theft Occurs
The moment you notice theft, call 911. Tell them that someone has stolen your vehicle and provide a description of the bike. This will help emergency services start an immediate search.
The police handling the case will likely need to take a statement from you. Most will visit your home to review the scene and collect potential evidence. Some of the information they may need you to have handy include:
- Your vehicle registration and license plate numbers
- The make, model and photos of the bike
- Information about any modifications or identifying features (like bumper stickers)
- Your photo ID and other contact information
- Verification of bike insurance
- A list of any money or personal items stolen with the bike
Simultaneously, contact your bike insurer. Tell them that you have experienced a theft and ask them about your next steps. Most insurers will want to know about a theft as soon as possible. This can ensure you don’t receive any undue penalties for damage done to the stolen bike. They can also tell you necessary information to place on the police report.
Insurance Coverage for Theft
You don’t plan to have your motorcycle stolen. It is an unavoidable accident that will often qualify for coverage on your insurance. However, to qualify, you’ll likely need comprehensive insurance on your policy.
Comprehensive coverage pays for vehicle damage and losses from non-accident hazards. Usually this includes theft damage. So, when getting bike coverage in the first place, place this protection on your policy. You might have to choose whether you want replacement cost or actual cash value coverage. Replacement coverage will pay for a new bike of similar value. Cash value coverage only pays the depreciated value of the bike at the time of the loss. Therefore, choose your coverage carefully, based on your needs. You'll want to replace a lost bike with as little financial loss as possible.
Following theft, let your insurance agent become your advocate. They can help you arrange compensation, even if the authorities recover your bike. You don’t have to experience theft alone. Give us a call at 409.203.2027
Also Read: Reduce Motorcycle Insurance Rates With Improved Safety