How Can You Find a Suitable Coverage for Your Custom-Built Motorcycle?

Are you the proud owner of a one-of-a-kind motorcycle that turns heads wherever you go? If so, you know how important it is to protect your investment with the right insurance coverage. But when your bike is a custom creation, finding the right policy can be a challenge. That’s where custom motorcycle insurance comes in.

With this specialized coverage, you can rest easy knowing that your unique ride is fully protected in the event of an accident, theft, or other unexpected event. In this article, we’ll explore everything you need to know about custom motorcycle insurance, from what qualifies as a customized bike to where you can find the best policies and how much coverage you’ll need. 

What Is A Custom Built Motorcycle?

Basically, a custom-built bike has a stylistic or structural change that goes beyond the motorcycle’s standard. Many personalized bikes have been created under unique circumstances and in limited quantities representing an off-shoot of another standard design.

The first custom bikes started appearing in the 1950s and have grown into a significant industry since that time.

Today, not only are people creating special bikes using different parts, but many manufacturers actually have lines of customized motorcycles.

Custom bikes are preferred for various reasons, from the rider’s unusual physical characteristics and requiring modifications to the bike to simply creating a unique, individual impression out of the cycle.

Modifications are often made by purchasing or creating custom parts added to a standard bike frame. Many modifications must be made, from adding a new seat to changing the bike’s entire frame.

The most common are new handlebars, wheels, extensions, etc. Several types of tailor-made bikes are sold by major manufacturers such as Harley Davidson, American Ironhorse, and others, although technically, anyone can create a personalized motorcycle. Naturally, this will require custom bike insurance to cover.

How to Find Insurance for Your Custom Bike?

Finding custom-built motorcycle insurance may seem difficult at first because the belief is that you have a bike that falls outside standard motorcycle coverage.

However, most insurance companies do offer custom-made motorcycle insurance and rates that are not all that different from standard bikes. This is as long as your specially made bike fits the description of a proper motorcycle; it can be covered under standard motorcycle protection conditions.

Follow these steps…

The first step is to find the insurers with the custom bike insurance you need. While companies specialize in this endeavor, you’ll want to check out the major carriers to ensure you get the best rates for your bike. You can use standard search engines to find the type of coverage you need if your specially constructed bike falls within the general category of motorcycles.

What’s next?

The next step is getting quotes from different companies to compare rates and find the best one for your needs. Include any particular information about your custom bike, including the overall value and special features you would like covered.

Covering your bike as a regular motorcycle is possible if the customization is relatively tiny. However, you’ll want to discuss with the insurance agency all the particulars about your bike to know it will have the proper coverage.

Once you have reviewed all the quotes, you should determine which offers the best rates while still being one of the most reliable companies on the market today. You do not want to buy a policy from some fly-by-night company and have it disappear after filing a claim.

Let’s define the actual cash value and agreed value for motorcycle insurance, which you must know before calculating and underwriting a policy.

What is Actual Cash Value?

Basically, the actual cash value is a method of evaluating the actual value of the custom motorcycle, which is not the replacement cost of the bike. In other words, just as cars and trucks depreciate over time, so do custom motorcycles. Despite the customization, their actual cash value and physical damage coverage may have declined over the years.

What is Agreed Value?

If the actual cash value is problematic in properly replacing your custom bike, then the agreed cash value may be of assistance. Basically, this is what you and the insurance company agree is the actual value of your bike so that it is properly covered. The insurance company will pay the agreed value without hesitation if your motorcycle is damaged in an accident.

So, the language should be air-tight to ensure that the company does pay the agreed value of physical damage without a way to wiggle out of it.

What Kind of Coverage Do You Need?

The type of coverage needed for your modified motorcycle insurance will largely depend on the value of your bike and the different accessories you want to be covered. For example, you may want to have modified parts and equipment (CPE)/accessory coverage to ensure a valuable modification will be covered in case of an accident.

In addition, you may want chopper motorcycle insurance if you have extended out the front wheel of your bike and want to take advantage of this particular type of coverage.

Choppers are very popular custom modifications. Many insurance companies will have this type of coverage if your bike falls within the local and state regulations of what constitutes a chopper.

You’ll also want to consider any individual factors, whether you need theft coverage or the like, to have complete insurance to cover your bike.

Types of Customized Motorcycle Insurance:

There are many different types of custom motorcycle insurance which include but are not limited to the following;

• Comprehensive: As the name implies, this is full coverage for your motorcycle.
• Collision: If you are involved in a collision, you will pay for the damage.
• Liability: A state minimum requirement that pays the other driver if their vehicle is damaged. Check out if your state requires insurance for your motorcycle.
• Uninsured: You can still receive compensation if the other driver is uninsured.
• Theft: If your bike is stolen, you can be compensated through this policy.
• Custom Parts & Equipment: This usually covers up to $3,000 of modified parts/equipment on your bike.
• Medical Payment: If you do not have health coverage, this will cover payments because of an accident.
• Roadside Assistance: From replacing flat tires to repairing your motorcycle. Read more about this policy here.

You can choose the best insurance for your customized motorcycle if it meets your state’s requirements.

Types of Customized Motorcycles

There are many different types of tailor-made motorcycles, which include but are not limited to the following;

• Bobber
• Café Racer
• Cutdown
• Chopper
• Rat Bike
• Streetfighter
• Scrambler
• Tribsa or Tri-B.S.A.
• Triton Motorcycle
• Home Built Kit and more

Although many categories are covered, your bike may fall outside most of them. In this case, if it is a home-built or heavily modified bike, you’ll need to discuss with your insurance agency which category it will fall under. In this manner, you will get the best insurance for your customized motorcycle.

How do I Get an Affordable Premium for My Customized Bike?

When it comes to getting motorcycle insurance for your bike, you may find yourself facing premiums that are higher than you might have anticipated. While insuring a motorcycle is often less expensive than a vehicle of comparative age, it can still substantially drain the budget.

Fortunately, there are several ways that you can use to bring down the premium payments on your motorcycle.

You can use one or more of these methods to pay less on your premiums, especially if you own your bike outright and do not have some type of lien against it. Otherwise, you may be forced into paying for comprehensive coverage.

• Higher Deductible

This is generally the most common way to lower the premium on your motorcycle insurance by raising the deductible or the amount you pay out of pocket before the insurance kicks in. Of course, you’ll need the money to cover the deductible, so be sure to have that amount in your savings account. In this manner, you will pay a lower rate and have money left for emergency use.

• Liability and Uninsured Motorist

Almost all states require motorcycle insurance, but most only need that you have liability to cover the damage to the other vehicle and uninsured if the person driving the vehicle striking your motorcycle has no coverage. Going with the state-required minimum coverage can save a considerable amount on your insurance. However, this form of insurance is not comprehensive, which covers far more.

• Seasonal Coverage

If you only drive your motorcycle in the summertime, you can apply for seasonal coverage for four to six months out of the year. In this manner, you can save considerably if you only drive your motorcycle when it is warm outside. Many people have motorcycle insurance that goes active on April 1st and runs six months to November 1st.

• Locking Up Your Bike

If you have theft insurance, you’ll want to lock up your motorcycle securely. A motorcycle stored in a locked garage is far more protected from theft than one in the driveway. So, by securing your motorcycle, you may get a lower rate. Get more tips to prevent motorcycle theft.

• Safety Driving Course

Many insurance companies will discount you if you pass a safety driving course. You should use a safety driving course recognized by your insurer to get the savings.

• Bundling

This is an often overlooked method of saving on your premiums. If you bundle your motorcycle insurance with the same company that carries your vehicle and home insurance, you may save a considerable amount on your premiums, up to 20% or more.

One or more of these methods can reduce your premium payments and have more affordable insurance for your motorcycle. Be sure to check with us to find even more savings.

Where Do I Find Special Coverage for a Customized Motorcycle?

Several motorcycle companies offer custom parts and equipment coverage for bikes with modifications. Each one has specific strengths to consider, so it helps to review the available options and prices.

Although any motorcycle with non-stock mods is technically custom, some styles could be categorized that way, even if you purchase the bike at a dealership. That includes choppers, bobbers, scramblers, and trackers. Also, any kit or custom-built ride without a VIN is automatically included.

If your frame has a manufacturer statement of origin (MSO), you might avoid some higher costs when insuring the motorcycle. Larger insurers can look this data up in their systems.

Who Are the Best Custom Motorcycle Insurers in the US?

Many of today’s best insurance companies offer custom motorcycle insurance to protect your ride from unexpected events. A few specialty companies work with vintage and kit bikes, so the first step is determining what you require.

If you built your motorcycle from scratch and didn’t have an MSO, your best options are Rider, Hagerty, and Fischer Specialty. Although you’ll pay more, these agencies work with these bikes more often, ensuring you receive the right coverage for your modifications.

Allstate, Progressive, and Nationwide are the best choices for those with only a few mods and pursuing custom parts and equipment add-ons.

Here’s a closer look at why I make those recommendations.

Why Choose Allstate Motorcycle Insurance?

Allstate offers a range of discounts to help riders save money on their motorcycle insurance, including safe driving and bundling options. You have the strength of a company with more than eight decades of experience supporting your custom ride while having access to a 24/7 customer service line and online resources and tools to help you manage your policies and claims.

Here’s a comprehensive review of Allstate.

Why Choose Progressive Motorcycle Insurance?

Progressive offers competitive pricing for custom motorcycle insurance, which can help you save money on your coverage needs. This insurer lets you customize your policy to fit your specific needs, including add-on options like custom parts and equipment.

The entire quote process happens online, and you see similar rates from competitors. It’s a fast and easy way to determine whether you receive a fair quote. Here’s more about Progressive.

Why Choose Nationwide Motorcycle Insurance?

With agreed value coverage, you and Nationwide agree on how much your motorcycle is worth upfront. In the event of a total loss, you’ll receive that amount, which can be helpful if your bike is rare or has appreciated in value. You can choose from several coverage options, including liability, collision, comprehensive, while protecting your modifications.