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Your Questions About Motorcycle Insurance Companies

June 28, 2013

Donna asks…

Why is it that women have more motorcycle accidents than men?

When you go to get insurance on a car you find that men have more accidents, tickets than women. The insurance companies say that men are more aggresive than women. So, when you get insurace on a motorcycle the insurance companies tell you that more women have accidents per mile than men. What is it about motorcycles that women have trouble with?

Administrator answers:

Men tend to have a quicker reaction time. Which is critical on a motorcycle for accident avoidance.

Sharon asks…

How much to offer to buy back a motorcycle from an insurance company?

My custom 04′ Yamaha R6 was stolen a little over a year ago. The insurance company paid me for the claim shortly after. Now I come to find out that my bike was found in the exact same condition. Nothing has changed except for the frame had been swapped out. The insurance company has asked me to make an offer to buy back the bike but I’m not sure where to start. I’m excited that I have the opportunity to get my bike back but i don’t want to get ripped off. Any suggestions?

Administrator answers:

Ask your local bike shop if they have a NADA book. Tell them that you are considering trading in your old bike for a new one and want to know your trade-in value. That will give you a close “wholesale” value.

The insurance company typically sends salvage to the auction. At the auction, they can expect to get a little less than wholesale for the bike. They are courteous to offer you the salvage–they don’t have to do that. But they’re not going to give the bike away.

Offer them a fair price, and you’ll both win.

James asks…

What motorcycle disc locks are that approved by insurance companies?

Could someone be kind enough as to advise me what are the best competitively priced disc locks on the market which are approved by insurance companies please.

Thank-you for your advice…..

Phil

Administrator answers:

I have a Motrax ‘Vishas’ disc lock, which I use as secondary security. It is Thatcham approved.

Helen asks…

How much do you guys pay for your motorcycle insurance(SuperSport) and what insurance company do you have?

Quick rundown of the situation.

Moved State to Illinois for work. Insurance rates are a little different for cars but then again my record is clean but I have yet to insure my motorcycle and thinking of buying a second one for my son to ride with but want to get this question answered first.

For me I own a 2007 Yamaha YZF-R6
-Super-Sport
-600cc
-Never damaged,stolen, nor tickets
- Was paying around $300 dollars per year State Farm Full coverage

For my son we were planning to buy a second generation Honda CBR 600rr 07-09
-600cc
-Super sport
-Has license
-No tickets
-BRC completed
- 18 Years old
-With my family plan for insurance

So anyone can give me rates that they pay answering these questions, just to see what company I should look into.
- Age
-Insurance company
- type of motorcycle
- Yearly rate
- And the type of coverage they have on it.

Administrator answers:

1994 Honda Shadow 1100
Progressive
Liability only
$12-something a month
28 years old

William asks…

Can you sue an insurance company for an accident for more than the insureds limits of coverage?

My husband died from a blood clot after a motorcycle accident. The other vehicle was in the wrong. They only have minimum insurance and nothing to sue for. Can I sue the insurance company for my loss over what they sold coverage for?

Administrator answers:

NO….you have to sue the at fault person. The insurance company can only pay what their insured’s policy limits are–it’s the policyholders responsbility to make sure they have the proper coverage, not the insurance company. If the guy doesn’t have assets, why bother? The insurance will still only pay what his limits are. But good question.

John asks…

Who gets the check for a total loss when going through the at fault driver’s insurance company?

My motorcycle was parked and someone hit it from behind. It is likely to be a total loss. My question is, I am doing everything through the at fault driver’s insurance company, so will they pay the finance company, or will they send me a check for the fair market value?

Administrator answers:

Typically the check will be issued in BOTH the names of the registered owner and the legal owner if both are shown on the policy as being the insured. Sometimes its a coin toss as to who will physically receive the check but it makes no difference since both must sign it to cash it.

If the vehicle is a total loss, the legal owner may require you to sign it over and pay the difference in any amount still owing on the vehicle. Until you do, they will continue to expect your monthly check and hold on to the insurance check since it has no value unless signed by both parties. Check your sales agreement for that answer.

.

Jenny asks…

insurance company offered a settlement that is not acceptable, do I sue the company or the insurance?

I was forced to lay my Motorcycle down when a company car backed up in front of me in a parking lot. Insurance company offered to settle but not for what the bike was worth and they were going to total the bike instead of repairing the damage. I’m taking the matter to court and want to sue the company for the damage to the bike. Can I sue the Insurance company too?

Administrator answers:

No. You have to sue the party that caused the damage. That is not an insurance company.

You’ll have an uphill battle. Why aren’t you filing a claim with YOUR insurer?

Maria asks…

What kind of a joke is this? motorcycle insurance ontario?

this is utterly stupid how the system here is. Ive called well over 20 companies to get motorcycle insurance, and every single one of them said they wont insure anybody who

a) doesnt have M2
b) doesnt have at least 5 years driving experience and/or is under 25

How am i suppose to get my M2 if i cant insure a motorcycle to learn on when i have my M1? it says you need to be 16 years to get your M1, but you cant get a motorcycle until you hit 22, this is just utterly stupid.

Any suggestions on how to get insurance for a motorcycle?

Administrator answers:

Hmm, Canadians are usually bragging about how much better their society runs.

Michael asks…

Can I sue an insurance company for my dad’s death after a car accident?

My dad passed away after a car hit him on his motorcycle. My step mom said she got $40,000.00 from the insurance company and that’s all we could get. She got othe money but me and my siblings didn’t. Can we sue the insurance company?

Administrator answers:

Not and win.

The insurance company did not cause the accident.

The insurance company did not cause your dad’s injury or death.

The only person that can be sued is the at fault driver. That’s the person whose negligence caused the accident and your father’s death.

However, it sounds like the insurance company paid out the policy limit. That’s the max payable by the insurance company.

In exchange for paying the policy limit, the insurance would have had a release signed that ended the estate’s claim once and for all. In some states, you have to have a wrongful death hearing that ends the claim.

At any rate, the insurance company would not have paid the money with out a document/hearing that ended all claims against their policy holder.

As your fathers surviving spouse, she gets the money. You are not entitled to any of it. Depending on the laws of the state, the money would have paid into your Dad’s estate for any medical/funeral bills. If the left over money did not go to Dad’s estate, it went to his wife as his surviving spouse.

So, could you file a suit.

Sure.

Would you get any money? No.

The insurance company would have the suit dismissed because 1. You have no cause of action against them and 2. The release ending the claim has been signed.

Sorry for your loss.

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