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I recently heard of a trike that was damaged in a accident. The insurance company only reinbursed the owner for the value of the Goldwing bike portion of the trike.
I read my coverage through Progressive Insurance and discovered that only original factory equipment is covered. You need to raise the amount of accessory coverage to cover the replacement value of your trike.
I added enough coverage to protect my investment. Check your policy, do not find yourself underinsured.

Grandad 43
 

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I have been thinking about that myself wondering if I need another policy but will be checking with them this week. Thanks for the info.:thumbup:
 

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Went through all this w/State Farm when I triked. Ended up w/my agent and I on a conference call w/a "Manager"? at home office.
My premium stayed the same! Was told the trike part is an accessory. All I need is pictures and documentation of what "everything" cost.
Explained I just more than doubled the value of the bike. Was told, doesn't matter, just make sure you can document all costs.
Can't believe this will last much longer:roll:
 

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Discussion Starter #4
Trike Insurance

Progressive includes $3000 coverage for accessories, have to bump it up for enough coverage for the trike.
State Farm, who I have been with for over forty years was too high in price on my bikes insurance.

Grandad 43
 

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Went through all this w/State Farm when I triked. Ended up w/my agent and I on a conference call w/a "Manager"? at home office.
My premium stayed the same! Was told the trike part is an accessory. All I need is pictures and documentation of what "everything" cost.
Explained I just more than doubled the value of the bike. Was told, doesn't matter, just make sure you can document all costs.
Can't believe this will last much longer:roll:
:agree:Exactly the same explanation and premium situtation with GEICO, they say its all covered! just keep the tickets!
 

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I am with Progressive and recently triked my ride. Had to add additional accessory value to cover the cost of the trike kit and accessories. No insurance company seems to recognize the amount of trikes on the road????
 

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Ditto on what deputydog said. My State Farm agent had me bring it by the office and he came out and took several pictures.

Since I had it insured with them for years as a 2 wheeler, they listed the trike as a "$12,000 OWNER INSTALLED ACCESSORY."

Premium stayed the same.
 

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Dairyland wanted photos and list of equipment to be covered....no problem for them to do the coverage...luckly havent had to use it yet....
 

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:agree:Exactly the same explanation and premium situtation with GEICO, they say its all covered! just keep the tickets!
Bob, I've even gone so far as to call GEICO on different days, so that I'd get a different sales clerk. I get told the same thing on every call. I guess we'll find out if one of us gets our ticket punched. With our variables, I can't find cheaper coverage, w/ the low deductible.

Ride safe,

Wayne
 

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Actually, you need to raise the limits to cover your net worth - liability insurance has nothing to do with vehicle value. Ask your insurance agent or better yet - your family attorney - as to why this is important.
 

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Actually, you need to raise the limits to cover your net worth - liability insurance has nothing to do with vehicle value. Ask your insurance agent or better yet - your family attorney - as to why this is important.
I understand what you are saying-my wife worked for State Farm for years and her former boss is our agent.
My other post was about the "net worth" of the bike. Doubled the bikes value, no change in premiums, just keep all receipts! This, again, is State Farm and is in Indiana.
 

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My insurance co (Farm Bureau) just asked how much I wanted to add for the trike "accessory". Haven't had to use them so not sure If I will have an issue or not but don't expect one. Of course they asked for a little more $ for the accessory.
 

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I am rather happy that Texas does not differentiate between a trike and a motorcycle. I would imagine insurance companies do not either. When I registered my Goldwing Trike I had to pay the sales tax for a 2006 motorcycle, not a trike.

Accordingly, I am insured with Progressive which calls the vehicle based on the VIN a motorcycle.Twice have raised the accessory value as I add goodies to the vehicle. Of course, this is just for the comprehensive. I have $50,000/ $100,000 / $25,000 liability insurance and towing $12,000 accessory coverage and towing which adds $1.00 monthly to my premium. I also have unlicensed drivers protection if some slug without insurance hits me I get full coverage. Theft protection is $1.00 yearly.

My current medical insurance pay for ambulance, hopital stays (don't ask me how I know this:oops:) so I have no personal protection on my policy.

Total premium $328.


Just called Progressive. I do not have or need unlicensed property damage as my collision coverage covers this without additional charge.
 

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Thanks to this forum I just spoke with my insurance company, GEICO and was told they cover as a bike with accessaries and that i should document the cost associated with triking and ALL other add-ons like CB, chrome and other stuff. That was news to me as originally I was told they cover as a trike complete.
Now the question is that if you buy a trike from an original owner or used at a dealer how do you get the information? What do you do? I don't think purchasers realize they need all the original cost information, intersting.
 

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Same thing here with State Farm. Since the bike was purchased as a trike, the full cost is on the paperwork. Seems screwy, my 2009 GW trike costs less to insure than the 2010 GW 2 wheeler.

One other important change with State Farm: Last year their policy stated that a motorcycle was a TWO wheel vehicle or three with a SIDE CAR. I raised a ruckus about that, clerk checked and said it was "okay,they know their language is out of date". I wouldn't accept that, second hand verbal vs. written. Well now I notice that their amended policy includes "three wheels" without restrictions.

Ken
 

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Actually, you need to raise the limits to cover your net worth - liability insurance has nothing to do with vehicle value. Ask your insurance agent or better yet - your family attorney - as to why this is important.

No, liability insurance has nothing to do with your vehicles value. It is for your protection in the event an accident is your fault and pays up to the limits that you agreed to on your policy. For pennies more than the basic coverage, I upped the liability substantially to protect my family's worth.

The collision and comprehensive are for my vehicle.

When a deer and I collided, the 2 wheel Suzuki I was riding was totalled. I had the bike insured for replacement costs and was required to list the extras I had installed on the bike and their original costs. I keep receipts of everything I install on the trike in a folder and in a maintenance file on my server.

The insurance company (Merkle) paid me in full less my deductible.
 

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Thanks to this forum I just spoke with my insurance company, GEICO and was told they cover as a bike with accessaries and that i should document the cost associated with triking and ALL other add-ons like CB, chrome and other stuff. That was news to me as originally I was told they cover as a trike complete.
Now the question is that if you buy a trike from an original owner or used at a dealer how do you get the information? What do you do? I don't think purchasers realize they need all the original cost information, intersting.
Whatever brand the conversion is, go to their web sight and run a copy of their price list. Circle the items you have and give that list along w/ any other accessories and 360 degree pictures or video of the trike to your agent and you keep a set or a video in a safe/fireproof location.
Depending on the age of the conversion, an agreement between you and your agent w/the insurance companies signed documentation approving should establish the value of the trike at that point in time.
 

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Bob, I've even gone so far as to call GEICO on different days, so that I'd get a different sales clerk. I get told the same thing on every call. I guess we'll find out if one of us gets our ticket punched. With our variables, I can't find cheaper coverage, w/ the low deductible.

Ride safe,

Wayne
Wayne, I did the same thing three times, trying to explain the cost of the install and requesting a need to increased coverage, but nope they said no premium increase just keep your receipts, great minds think alike, which is plain scary sometimes, in fact when I dropped one of my 2 wheelers I sold I asked again just a month ago and was told, Yup your listed as a trike and its completely covered, I have pretty high coverage just because chit happens and the lawyers will want their piece of flesh!
 

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State Farm here but did you know...

they do not offer medical insurance on a passenger. So theoretically speaking if you take a lady friend riding behind you and wreck be prepared for a lawsuit and/or hope its the other guys/gals fault and that they are insured with good liability coverage. But don't take my word for it. If you have state farm,then ask your agent.
 
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