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How much?

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chiefholdem

Member
OK, I recently inherited my fathers bike and I need to get it insured before I hit the road with it. The lady I was talking to at the insurance agency asked me what the bike would have cost brand new and what's it's worth now. I'm new to the bike scene so I have no clue of either. Can someone with more knowledge than me (it doesn't take much at all!) please help me out here, thanks. Pictures of my bike are on my profile page.

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Nice bike! OK, here's what I would do in your situation here in TX if I owned it. First, get some kind of POI card, tell them 15K, (both original copies of the easyrider bikes, Capt. America and Billy, went at auction 2 yrs ago for 42K for both bikes) then I'd ride it up to at least 3 LOCAL HD dealers and see what you could get for it on a trade in on a new HD. Document that with something written from the dealers. Second, I'd take it to a couple of custom shops, that builds bikes in the shop, and ask them for an estimated value of your bike, if they had to rebuild it for you. Now, take all that info, and your pictures, and go see an agent. Sit down with them in an actual insurance office and have them build you a, REPLACEMENT policy, not an actual cash value policy (Blue Book). Once you 'sit down with an agent', it will all come together for you providing your state, and his agency, will let him write a policy on the motorcycle, outside of an 'antique vehicle' policy (normaly unheard of for motorcycles post 40's). Be preparded, a Replacement policy cost a whole lot more than Actual Cash Value policies. Hope this helps!
 
I thought the orginal Capt america bike was stoled and its whereabouts unknown last i heard..

but texas pretty well has ya covered
 
i agree. the best thing to do is take it to a shop that restore bikes and ask them what its worth now and what its worth restored. im sure if you did the work yourself, take it apart and have re-chroming done, you would save quite a bit of money. looks like it was a really nice bike at one time but been left to sit for a very long time.
 
Texas_Biker said:
Nice bike! OK, here's what I would do in your situation here in TX if I owned it. First, get some kind of POI card, tell them 15K, (both original copies of the easyrider bikes, Capt. America and Billy, went at auction 2 yrs ago for 42K for both bikes) then I'd ride it up to at least 3 LOCAL HD dealers and see what you could get for it on a trade in on a new HD. Document that with something written from the dealers. Second, I'd take it to a couple of custom shops, that builds bikes in the shop, and ask them for an estimated value of your bike, if they had to rebuild it for you. Now, take all that info, and your pictures, and go see an agent. Sit down with them in an actual insurance office and have them build you a, REPLACEMENT policy, not an actual cash value policy (Blue Book). Once you 'sit down with an agent', it will all come together for you providing your state, and his agency, will let him write a policy on the motorcycle, outside of an 'antique vehicle' policy (normaly unheard of for motorcycles post 40's). Be preparded, a Replacement policy cost a whole lot more than Actual Cash Value policies. Hope this helps!
Click to expand...

Great info. I will need it for the 46 Panhead I'm getting tomorrow.
 
Nice chop amd Jack57 makes some very valid points...and certainly worth persuing, you do not want to overpay or underpay for replacement value if that is what you are asking...
 
Texas Biker is right with his suggestions, also I would shop several different companies to insure with and stick with a national company compared to some of the smaller local ones. Anytime insurance companies have to insure something out of the norm, they send the policy to underwriting, it's their responsibility to dot the I's and cross the T's and make sure the preimum and policy give you and them the coverage you need or want. The best thing you can do is document everything, inclluding detailed photo's and keep a record of it. AND yes, replacement value is much better than cash value. When I insured my 98RK, I told them I wanted replacement value and also what I thought that value was and they were happy to write it for that amount, as long as I had all the documentation, receipts and proof of custom work done. Good Luck!
 
Texas_Biker said:
(both original copies of the easyrider bikes, Capt. America and Billy, went at auction 2 yrs ago for 42K for both bikes)
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Original copy? It is either original, or it is a copy, but it can`t be both...:D

The Captain America bike was stolen after the movie was made...

You can tell them what the bike is worth, but you will pay accordingly.
 
Texas biker has you pointed in the right direction.A couple of things I will add.

As a liscenced auto appraiser my expierience is only an appraisal done by a liscenced appraiser would be recognized as valid documentation of the bikes worth.There are a few in my area that specialize in customs and rods.

Contact your insurance company NOT your agent and ask to speek with a senior adjuster.Ask the adjuster for your best course of action and which of these appraisers they would work with.Your agent is not your insurance company.Id want to make sure any policy you sign would be honored by your insurer.

Id also request a pre insurance inspection.In my state every vehicle carrying full coverage gets a PII.It is a set form filled out by an independent garage who will also take pictures.They retain a copy, you get a copy and your insurer gets a copy.Insurance companies came up with this back in the 90's as a way of getting out of paying for prior damage on a vehicle.Ive found it can also work against them as documentation in the event of a claim.In the event of theft or an accident the insurer would have no way to argue the bikes condition,components or worth.
 
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