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Bike Insurance, Is your Victory adequately covered?

Greetings victory Nutters & Converts

So with the Tassie Devil Tour coming up very soon I was finally compelled to check out my 2 Victory’s insurance policies just to check all was up to date and covered, I’ve had had multiple policies in place for various makes of motorcycles over the last 25 years Mostly cheep Jap stuff, I’ve never really bothered to look or even been interested as to what I’m actually covered for etc, the term fully comprehensive seamed always to be the ‘’god almighty cover’’ I assume I have, believe me it’s the apathetic Aussie attitude to insurance that most of us have ‘’until’’ the time that we ultimately make a serious claim, fortunately for me that’s not happened yet, Touch wood.

So were riding our 2010 Vision Tour in the Tassie Devil Tour 2013 the wife and i very excited to be able to participate, this 10 days of riding is what has got me off my ass to check our insurance details as obviously the more riding the more risk, so the first thing I notice on the policy was the ultimate sum insured actually is, in our case it was drastically less than the replacement of the bike, like $6000 So if we were to get wiped out by a dill in a tin can or had a bit of a Woopsy ourselves, this would mean that in the case of a total right off “this does not take much damage “we would receive a check totally inadequate to cover the replacement cost of a new bike to get us back on the road, Bugger That.

So do you want to sitting in your home battered and bruised at best, No bike or enough cash to at least cover you picking up another and even worse! In some peoples cases you have a loan against your bike “that you reckoned was well covered’’ that you will have to keep paying the balance off ‘’after’’ the finance company has taken the pay out to cover said loan anyway- Phew! All pretty shitty stuff but true.

So let’s also Visit what we do to our Victory’s after we buy them, I like to call “the Bling factor”

For most of us the conversion to the ‘’alternative American made motorcycle: Victory” from what we were generally used to riding cheep Jap stuff, European, or that other American bike Ha Ha, has been a major jump in Machine investment, it’s nothing to get into the mid $30,000 as you ride out of the shop just for the bike, So how many of you add all the shiny bits, performance gear, Pipes, wheels, chrome, bars, etc etc and fork out another 5 or 6 grand for the pleasure? Not just when you leave the Shop but continually after the initial purchase yer? That’s right more major investment that has Zero recognition on your insurance policy, unless of course you have shown a little intelligence and have in fact built that into you policy, I recon not many of us.

Now for our ‘’2010 Victory Vision Tour’’ that was clearly underinsured and has very few after Market parts ‘’Bling’’ fitted to it was the first bike to review with our insurer, I thought it was going to be very difficult to raise the policy? again typical Aussie Apathy, it wasn’t such a big deal anyway a simple phone call managed to increase the policy to a number that would totally replace the bike in that worst case scenario situation, obviously as with all policies there is a reasonable excess due as such on finalizing the claim, and the actual increase on the existing policy was less than $65 per annum a sum I consider negligible under the circumstances, especially given the peace of mind.

For our next Bike ‘’2009 Victory Vegas Jackpot Premium’’ that was, as it stood on the policy a standard delivered model- No Bling ect etc, was ‘well short’ of replacement Sum insured by $4500 and was easily increased to a ride away 2013 model figure of $30,000, Now to add the Bling factor to this figure, this Particular Bike of ours has had extensive investment in parts/modifications/paint/ and a simple adding up of receipts etc had shown a further investment to the bike of $16500, so to add this to the existing policy required, description of parts, part numbers, Purchase costs, and in some cases invoice records, a bit of messing around but relatively easy and well worth the effort and peace of mind, most of you would have purchased most of your add on’s from Victory anyway so if you have lost your actual invoice records just get on the net go to Victory and you should be able to find you parts, numbers, descriptions and retail prices, Don’t forget you Custom paint, leather seats either, well worth adding to you policy and covering.

So for our Jackpot the increase in policy price for the standard bike rolled out of the Shop at 2013 replacement price, and the extra $16500 in Bling and bits listed was surprisingly cheep at an addition of less than $85 to the annual policy, admittedly the Excess had been increased as the figure for accessories had reached over 30% of the cost of the bike, but even this was still under $800, WHY WOULDNT YOU DO THIS.

I guess what I’m trying to say here all is

Check your insurance policies, make sure your cover is adequate and your extras are clearly mentioned and noted, this way if that worst case scenario happens and you get hit or fall off ‘’or even’’ you get home from work one day and where’s your bike? You’re fully covered.

Note; I’m No insurance Salesman so have deliberately withheld my insures name

I’m not saying what i have Blogged to you all to benefit insures, what i will say though is shop around there’s a lot of companies out there now in Australia that specialise in Motorcycle insurance, try your existing provider, check another, and ask your mates who their with and if anyone’s been “duded by an insurer” or offcourse had a good experience with their insurer, it’s all relevant, then once set up and updated make sure you review your policy every year once you receive your renewal to be sure it’s what you want as most policies self degenerate on the sum insured naturally.

Don’t forget with all the floods and fires we have been experiencing in Australia over recent years are your Victory’s covered where you live?

Ride smart-Ride safe

Hopefully none of us will have to make a claim

but if so benefit adequately

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Comment by Jason on March 29, 2013 at 4:08am
Good work Tony...,,
Comment by brian ross on March 26, 2013 at 4:16am

nice work Tony, you must be talking about agreed value, if you have fully comp with market value you then only get what the insurance thinks your bike is worth on the open market.so if the 3 year old vision is able to be bought for 20k on the open market then thats what they will pay.so it is handy to know what it will cost you to replace your bike at the time you insure then ask them for thier market value.

Comment by Ross Goddard on February 21, 2013 at 4:02am

Not much comments back Tony! Got to add tits mate!!As for your typing well typed! And is very interesting to me as i need Jack pots anonymous and would need to cover mine extensively ... And cover the bling! Talk to you soon about it,53 days to go

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