Take photos at each stage of the conversion if possible. The most significant error made is to not list the converted cycle as a three-wheel machine, and to not list the parts on the insurance policy. When you are preparing to insure a heavily customized machine such as a cycle that has a trike conversion kit be sure that you have your receipts and current photographs. These are factory-built trikes and will not need to have the policy reflect additional parts as it is not a conversion. Another example of a three-wheeled machine are the newer Harley Davidson Trikes. The trike conversion kit may have a price of $10,000 or more, not to mention labor to complete the conversion. Much the same as you would list upgraded handlebars or a new exhaust. In these cases the insurance will typically list the parts under accessories coverage. The coverage available on an automobile policy is quite different from that available for a motorcycle.Ī trike in many cases is a two-wheeled machine that has been modified with a kit that coverts the machine to a three wheeler. There are many variations from state to state, and too often advice from a neighbor or buddy is biased by a bad personal experience. It cannot be stressed enough that you must speak with an insurance specialist about the laws in your state. However, if you are hit by someone not insured you will want to carry coverage to protect you such as uninsured motorist coverage or medical payments. The laws in your state may require liability to cover injury resulting from negligence in an accident as well as no fault or coverage to cover the driver of the at fault vehicle. You should ask questions about coverage and be sure you purchase adequate limits based on your specific needs. Contact your major medical carrier and find out if they cover motorcycle related injury with or without safety gear (Boots, Gloves, Helmet, Eye Protection etcetera). When purchasing a motorcycle policy it is best to speak with a licensed insurance professional about your options for coverage. Scott Hall, Motorcycle Product Manager at Progressive Insurance Read moreĮach state may have different coverage available on a motorcycle policy. That additional Accessory coverage isn’t expensive, but it would make the cost to insure the trike more expensive than the two-wheeled counterpart. Without doing so, only the free $3k of Accessory coverage would be applied to the cost of the trike conversion in the event of a total loss. That conversion kit can cost between $10k-$15k, so in order for customers to be fully insured, we encourage them to purchase Accessory coverage to at least match the cost of the conversion kit. You can take a stock Harley cruiser and convert it into a trike. That’s pretty technical so let me give you an example. It’s best to talk through your options with your independent agent or insurer, and at Progressive we encourage customers to insure their trike conversion kit as Accessory coverage. For example, vehicle make and model are two characteristics we have to consider and some two-wheel motorcycles will cost more, some will be less expensive, and some will be the exact price (given that vehicle make and model are the only differences in comparing two policies). Because there is such a variety of vehicle and driver characteristics taken into consideration in order to derive a premium rate, it really depends.
0 Comments
Leave a Reply. |