Motorcycle insurance helps protect owners from accidents and theft. Unfortunately, motorcycle theft is a common problem that is not just in Dadeville, AL but all across the country. Understanding how theft can affect motorcycle insurance is vital to help purchase a policy and protect yourself from experiencing insurance rate increases. The agents at Highpoint Insurance Group are ready to help motorcycle owners learn more about their insurance options, and they are affected by theft.
Why Your Motorcycle is a Target for Thieves
There are many reasons why motorcycles are targets for thieves, including the fact they are often equipped with expensive aftermarket parts. These parts not only increase the value of the motorcycle, but they can also be sold individually for high profits. Additionally, motorcycles are more accessible to steal than cars because motorcycles typically do not have the same anti-theft features as vehicles do.
Theft and the Seasons
Motorcycle thefts often rise and fall as seasons change. Since motorcycles are more present in the summer months, because everyone is out riding, theft rates rise. In 2012, the National Insurance Crime Bureau reported that July had the highest number of stolen motorcycles. During this month, there were more than 5,500 thefts reported in the United States. Conversely, the month of February saw the fewest thefts, with a little more than 2,000 motorcycles stolen across the country.
Effects of Stolen Bikes on Insurance
When a motorcycle gets stolen, a theft claim gets reported to the insurance company. Filing a claim for theft could immediately impact motorcycle insurance coverage rates. Though the theft is covered, filing a claim turns a motorcycle owner into a high-risk policyholder, affecting premiums.
Motorcycle owners in Dadeville, AL must understand how theft affects their motorcycle insurance rates. Those with questions can receive further assistance in understanding their motorcycle insurance policy by reaching out to the experts at Highpoint Insurance Group.
