Insurance options for the zilla?

Insurance options for the zilla?
Posted by MD2smoker on 11 Jun, 2013 12:16
Just got off the phone with my gieco rep. Apparantly my zilla is only worth $820 if its stolen. Does anybody have a policy that more accuratly covers fair market value or additional coverage for aftermarket parts?

#1 Reply
Posted by Buckeye513 on 11 Jun, 2013 12:23
I would recommend contacting a company that specializes in custom motorcycles cars and off road machines. I don't know the names of any but I'm sure a google search could render you a few. You're gonna want specialty coverage not just atv coverage. My dad had to do it with his chopper, the title was for a soft tail Harley and they only wanted to insure it for $8000 but he had over $30k in the bike he wound up getting a specialty policy that gave him $35000 worth of replacement coverage in event of loss due to accident or theft.

#3 Reply
Posted by Buckeye513 on 11 Jun, 2013 12:44
If its stolen from your house but it will only cover a default value like MDSmoker said probably around $800-$1000 because of the age.

#4 Reply
Posted by MD2smoker on 11 Jun, 2013 12:49
5 dollar.. Sometimes.. You have to read the fine print in your homeowners policy. Many specifically do not cover atvs. Some cover if its in a garage, but not in a shed, etc. i have called a lot of companies and all they say is "no" or " book value" and i have found none that cover aftermarket parts. Here in md, $820 wont buy a blaster, much less a zilla. My yfz has full coverage from geico, and if stolen, my reimbursment is about $2800, not near what i have in it, but i can accept that number based on replacement of a 8 year old yfz and $130 a year for the policy.

#5 Reply
Posted by Rider414 on 11 Jun, 2013 12:54
You need a Stated Value policy. You might need to have an appraisal done.

I have one through State Farm for my Jeep.

#6 Reply
Posted by GrkGuy on 11 Jun, 2013 13:34
we have all state, i told them what they are worth and he made a policy for them.
but there is a lot of fine print in insurance contracts. if your house burns down nothing in garage is covered unless it has its own policy. even if its a old car you are restoring and
it has no insurance on it. or you will have to have them come out and adjust (new appraisal) your policy to what new stuff you have done to house, plus this also means your insurance will go up.

just tell them what you want it insured for and they will make a policy for you. well they should, this means they are getting more of your money.

#7 Reply
Posted by JayTater on 11 Jun, 2013 13:54
With a classic, or antique car, motorcycle, or whatever, some insurance companies will limit use of the insured machine.

#8 Reply
Posted by LT250RWV on 11 Jun, 2013 14:20
A guy that lives close to me had a garge fire and he had home owners on his stuff. He had 3 4 wheelers. Brand new raptor 350 I think a blaster and a 4 wheel drive i dont know the make. The company only gave him money for 1 the 4 wheel drive and the only reason for that is because he a snow powel on it. The other 2 werent covered because they were consider recreational. So you have to watch with home owner they will do anything to get out of paying money. Also i had a Koi pond with around 8,000 to 10,000 $ of Koi fishes in it. Well last year in end of June we had that Derecho Thunderstrom knock your power out for 6 day.Well the Koi died from the pumps quiting called our home owners and they wouldnt cover it, they said it was specialty item and had to be cover by itself. Even know it in our yard and is right by the house.I know this last thing didnt have anything to do with 4 wheeler. Just watch out incase something does happen so you dont get screwed.

#10 Reply
Posted by QuadMan8 on 11 Jun, 2013 15:57
I have learned the hard way policies have lots of fine print and double talk and never ever take what your agent tells you as 100% truth. Generally motor vehicles are either not covered in home owners policy or are at a stated value cap--say 1000 dollars. You will need a specialty policy if you have put a lot of money into it.

I had 20,000 of power tools stolen from my garage which I had aquired 10 years earlier when I worked with a power tool company. I asked my agent specifically about it before I got policy he assured me it would all be covered. They paid me 1,500 of the 20,000 because they said my tools were work related or tools for my trade. Even though they were personal, I did not work in that industry any more.

Just read your policy, ask a specific question and get the answer in writing and you will be good.

#11 Reply
Posted by Dezsled on 11 Jun, 2013 16:06
I have AAA, an appraiser had to come see exactly what I had. But for an extra $175 on top of my home owners premium they cover $20K...

#12 Reply
Posted by QuadMan8 on 11 Jun, 2013 16:19
DEZ--that sounds good. What type of coverage is that--Just comprehensive(theft,fire ect) collision or both.

#13 Reply
Posted by Dezsled on 11 Jun, 2013 16:29
Uhhh you know I'll have to actually read the policy.. But when I talked to the ins dept I recall theft & fire but can't recall what else. Duhhhh

But I was with them for 13 years before I upgraded the policy

#14 Reply
Posted by JayTater on 11 Jun, 2013 16:46
If that's the case Dez, it looks like I need to make a phone call! I've got 6 quads right now, and would be really tweaked if my insurance only covered a fraction of total replacement.

#15 Reply
Posted by MD2smoker on 11 Jun, 2013 16:55
Looks like ill be calling state farm and progressive tomorrow. I called a number of "specialty off road and cycle insurance places i found online. Not ONE had any option for a policy that covered more than book value. I have no problem paying a premium that reflects the true value of the vehicle and takes into account the storage and average use of it. If i tell them i want $5000 coverage, why cant they give me a price? Hell my wifes horse was insured for 20k and those things have more problems than quads. Lol

#16 Reply
Posted by WestTexasKing on 11 Jun, 2013 18:13
Hmm, when insuring aircraft, I just tell them what I want to insure it for and they insure it for that amount.
It doesn't matter how much it's actually worth, only what I tell them I want to insure it for.
So if my plane is only worth $100K, I could just as easily get it insured for $250K...though it'll cost me that much more per year.
Sounds like the insurance company you're dealing with is too rigid in their own constructs.

#17 Reply
Posted by El Diablo on 16 Jun, 2013 23:49
I have Farmers Insurance for my life / home/ vehicle. But they would only insure my zilla for $700. My agent did recommend a company such as Haggarty because they offer "Stated Value" insurance.

#18 Reply
Posted by Q2W on 17 Jun, 2013 06:44
I think allstate is your best bet for your bikes. They let you insure it for as much as you want.