Claim experience: Progressive Ins Co???? - Chicagoland Sportbikes
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post #1 of 14 (permalink) Old 08-26-2008, 02:18 PM Thread Starter
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Claim experience: Progressive Ins Co????

So, upon further inspection, it looks like the poor lil SV is gonna be a total . Dented steering stopper, and scuffed frame near the sidestand mount. I've got full coverage as well as $3000 in accessory coverage .

What I'm wondering is this:

Can I claim my gear?
Will my accessories be added to the fair market value of the bike itself?
Recently put on a new rear tire. That too?
Should I rip off all accessories and sell them seperately?
$150 in towing (to my house). I better get that back!

What'll this do to my rates? <------Or just screw the insurance co, and part the bike out FTMFW????

You been there? You work in the industry? Did Progressive ever screw you?

-Luke
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post #2 of 14 (permalink) Old 08-26-2008, 02:43 PM
Don't stare for too long
 
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Have you talked to your adjuster yet? Make sure you mention all the items, and better yet, provide them copies of the receipts.

Look forward to keeping an eye on this thread as I'm insured through them as well. I opted to piss away more $$ and get the full value replacement (available for the first 2 model years on the bike) rather than fair market value.
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post #3 of 14 (permalink) Old 08-26-2008, 02:53 PM Thread Starter
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Originally Posted by GPz1100 View Post
Have you talked to your adjuster yet? Make sure you mention all the items, and better yet, provide them copies of the receipts.

Look forward to keeping an eye on this thread as I'm insured through them as well. I opted to piss away more $$ and get the full value replacement (available for the first 2 model years on the bike) rather than fair market value.
Nope I have yet to. The bike is sitting in my garage looking more pitiful than I, while I decide what I'm going to do. Yup, I have many reciepts, and am hoping pictures will suffice for the items that the previous owner put on the bike.

How does that full value replacement work? How much more did it cost?

-Luke
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post #4 of 14 (permalink) Old 08-26-2008, 02:56 PM
Don't stare for too long
 
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I believe it was ~50-100$ more for the year give or take. I don't remember the exact #'s, but figured the bike is new (not so new with 20K, but you get the idea), and relatively expensive with everything on it.

From what I understand, they will replace the bike for 2 model years with a like bike as opposed to giving you what the bike is worth used based on age/mileage. After the 2 years, this option is no longer available, and fair market value kicks in. Call up progressive and inquire about this for next time..
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post #5 of 14 (permalink) Old 08-26-2008, 02:59 PM Thread Starter
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Originally Posted by GPz1100 View Post
I believe it was ~50-100$ more for the year give or take. I don't remember the exact #'s, but figured the bike is new (not so new with 20K, but you get the idea), and relatively expensive with everything on it.

From what I understand, they will replace the bike for 2 model years with a like bike as opposed to giving you what the bike is worth used based on age/mileage. After the 2 years, this option is no longer available, and fair market value kicks in. Call up progressive and inquire about this for next time..
Will this coverage only apply to a new bike? I bought mine (a 2003) in 2008, although it's too late now anyway.

-Luke
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post #6 of 14 (permalink) Old 08-26-2008, 03:01 PM
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Good question.. I believe it has to be a current model year, so it would not apply to yours (even if you bought your '03 NEW in '08). Best bet is to call them and have them give you the run down. It made sense for to go that route because come winter, collision coverage will come off, and liability limits gets dropped to bare min required to keep comp on. Next spring i'll reup the coverages to what they are now. Ultimately, my $660/yr premium nets to about $400/yr after credits.
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post #7 of 14 (permalink) Old 08-26-2008, 04:41 PM Thread Starter
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After work bump?

-Luke
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post #8 of 14 (permalink) Old 08-26-2008, 05:23 PM
stuck in 6th gear
 
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don't know about progressive since I've always had State Farm so my answers are if you were covered with them...

Quote:
Originally Posted by SV6Kuz View Post
Can I claim my gear?
most decent insurance companies will cover your motorcycle specific gear (helmet, gloves, boots, jacket). Don't expect anything for your everyday jeans or shoes.

Quote:
Originally Posted by SV6Kuz View Post
Will my accessories be added to the fair market value of the bike itself?
shouldn't be a problem if you have receipts to show them. but if you're planning on claiming them then you can't remove them from the bike and resell elsewhere.

Quote:
Originally Posted by SV6Kuz View Post
Recently put on a new rear tire. That too?
I would think an adjuster would say no to that unless it was recent as in like yesterday.

Quote:
Originally Posted by SV6Kuz View Post
Should I rip off all accessories and sell them seperately?
only if you don't think the insurance will pay to cover them. if you think about double dipping on this you run the risk of insurance fraud and can possibly have to face the music on it later if they notice they paid you for something and it's not on there later.

Quote:
Originally Posted by SV6Kuz View Post
$150 in towing (to my house). I better get that back!
only if you had tow coverage on your policy

Quote:
Originally Posted by SV6Kuz View Post
What'll this do to my rates? <------Or just screw the insurance co, and part the bike out FTMFW????

You been there? You work in the industry? Did Progressive ever screw you
you're with progressive so you're either young or already racked up with tons of accidents so that no other insurance agency is willing to touch you with a 10 foot pole. either way, you're in their statistical demographics where they charge you a huge premium because they expect to be making payouts.

any claims you make will only make your rates go up even more.
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post #9 of 14 (permalink) Old 08-26-2008, 05:30 PM Thread Starter
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Ernie

Thanks for the input. By no means am I thinking of double dipping, or attempting insurance fraud. I was just curious as to which might be a better option.

-Luke
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post #10 of 14 (permalink) Old 08-26-2008, 05:33 PM
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FWIW, Eva was able to get State Farm to cover a new tire back in april...
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post #11 of 14 (permalink) Old 08-26-2008, 08:10 PM
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Progressive will come out and do an estimate on the spot, and you'll have a check in your hand before they leave. They are probably the easiest to deal with in my experience at the motorcycle dealer.

As long as you have invoices for the towing and whatnot, it'll be added in there. If you dont have receipts for your gear, usually the dealer can help out.
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post #12 of 14 (permalink) Old 08-26-2008, 09:11 PM Thread Starter
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Quote:
Originally Posted by Downforce137 View Post
Progressive will come out and do an estimate on the spot, and you'll have a check in your hand before they leave. They are probably the easiest to deal with in my experience at the motorcycle dealer.

As long as you have invoices for the towing and whatnot, it'll be added in there. If you dont have receipts for your gear, usually the dealer can help out.
Does that mean I have to take my bike in?

Also, must i have a police report in order to file a claim?

-Luke
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post #13 of 14 (permalink) Old 08-26-2008, 09:19 PM
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i dont know about the police report.

as far as taking it in, im not 100% on that either. i had an accident when i was insured with them a few years ago, and they came to my job and looked at my truck, handed me a check and that was it. i had a police report and i fixed it myself.

now if it was already at the dealer, they'll usually cut a two-party check, which means you have to sign it over to the dealer. the adjuster would be able to answer that better than me.
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post #14 of 14 (permalink) Old 08-27-2008, 08:27 AM
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Quote:
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Progressive will come out and do an estimate on the spot, and you'll have a check in your hand before they leave
Thats what they did for me. I wrecked near my friends house and did not file a police report. My bike was left at the friend's house, so I met the adjuster there, and he took some pictures of the bike, came up with the value and told me that as soon as he has the title signed over the check will be written. He followed me to my house. I showed him the catalogue values of my gear (Slightly more than purchase price). Gave him the gear, signed the title, following monday to pickup the bike and to just leave it outside and accesand he printed out a check before pulling out of the driveway. Said that a trailer would be by to my friends house the sable to them.

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