Every motorbike owner wants to personalize his or her motorcycle. It’s practically a rite of passage in the motorcycle community. However, your insurance company will likely think quite differently of your personalization. The second your motorcycle leaves the factory, any changes you make to it are considered modifications, and if you don’t play your cards right, and inform your insurer beforehand that this is what you intend to do, it can force your premiums to rise, among many other inconveniences. So, if you’re set to go in to negotiate for motorcycle insurance in Chicago, here is why you may need to tell your insurer that you plan to modify your motorcycle.
#1. It may raise premiums
Modifying your motorcycle, no matter how small the chance, will alter how it handles and functions in noticeable ways. These changes have a dangerously high potential of raising your premiums if you don’t inform your insurance provider beforehand. If you do inform them you can negotiate a more reasonable term for this event.
#2. It may void claim legitimacy
As far as your insurer will see it, you making this modification includes signing on to everything that comes with such a modification. So if you get into an accident (or messier yet, an accident directly involving the mod) and make an insurance claim, you making that modification without the insurer’s knowledge is all the reason they need to refuse to pay out the claim. Informing them of your intention to modify during negotiations can open the door to a more compromised conclusion for the both of you.
#3. It can incur a loading
What this means is that the insurer will take a look at the modifications you intend to make, and decide if they increase the risk of damage or theft. They will then modify your plan accordingly, with such restrictions including limited driving, raised excess, or the removal of various cover benefits. Sometimes, however, it won’t be nearly as bad. The insurer will simply decide to limit the coverage to the base design of the bike, and not on the modifications. Which is much more convenient than the alternative. Informing them early, like with the above two examples, can lead to you and the insurer coming to an understanding.
Whether you plan to modify your bike or not is not something you should decide in the spur of the moment. You should plan on doing this or not before you even buy the bike. As such, you should also inform your insurance provider that that is what you intend to do, so you can work out an agreement.
