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Motorcycle Chain Problem.

Will renters insurance cover theft of motorcycle?

  • My motorcycle was locked up at my apartment in my covered parking,and some piece of crap stole it cut the chain and stole it. I thought I had full coverage but it turns out I have no coverage for theft (sucks I know) so they won't cover my loss and i'm still making payments. I have 50,000 worth of renters insurance and I want to know if it is even worth trying to have them help me out with the loss. Anyone have this problem? anyone have any good advice? it would really help out a lot. Thanks. Oh and yes, I have made police report.

  • Answer:

    No. Homeowners and Renters policies specifically exclude motor vehicles. There is no coverage under the Renters policy.

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Unfortunately, the answer is no. You could always submit a claim to see if it would be covered; however any type of motorized vehicles are usually excluded from coverage under personal property on a homeowners or renters policy. If you're still making payments on the bike, I would assume that the lender you are with required you to carry comprehensive and collision coverage? Usually that's the way it goes. Theft is covered under comprehensive coverage, which you'll probably hear referred to as "other than collision" coverage these days. If you didn't have that coverage on the bike, I'm sorry, it looks like you might have to pay outta pocket for this loss. Sorry to hear about it.

dvnt1

No. Renters and homeowners insurance, specifically doesn't cover theft of your car, truck, or motorcycle. Check with your lender. As you weren't covering for theft, it's possible they put "forced placement" coverage on your bike. You probably would have noticed it, as they'd bill you the extra.

mbrcatz

~~No, renters insurance won't cover it. You would have had to be paying for full coverage on the insurance you had on your motorcycle. Hopefully, you will get it back. My daughter had her car stolen and the police did find it three days later. The creeps that stole it left a brand new guitar in her trunk. At least she got that too. I hope you have the same luck!~~

debijs

no your renter's insurance only covers what's in the confines of your dwelling. That will still need to be filed as a claim through your auto insurance. Sorry.

Just A Guy

If you didn't have theft included in your insurance policy, then there's no point in calling them - they won't cover it. It's worth calling them to make sure you have theft coverage added now, but that's not going to help anything that has happened already. Sorry.

malica

Yeah it should cover most of it, If it was actually locked with a cable lock, the company who made the lock may owe you money as well. I know my master lock has a 10,000 guarantee if my motor cycle gets stolen

Crazyeightys

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