Does higher vehicle cost = more premiums?

[Sushii]

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Was bored and looked at my insurance policy only to notice that they put $8000 as the value of my 2010 Ninja 250 Should i call in and correct this or would this not make a difference on the premiums?

Thanks

 

[rideitlikeyoustoleit]

Wouldn't make a difference in my experience. If I claimed my bike as $2000 or $7000, my premium stayed the same.

 

[Sushii]

Wouldn't make a difference in my experience. If I claimed my bike as $2000 or $7000, my premium stayed the same.

Thanks.

Anyone else care to chime in?

 

[TwistedKestrel]

The listed value of the bike isn't used for much on an insurance policy. If it exceeds a certain value they might question if you have some insane custom bike, or if they're insuring the correct make & model. That said nothing bad will happen if you call your broker to straighten it out. Odds are good they'll go "meh" and tell you not to worry about it.

 

[Sushii]

Thanks, i guess that clears that up

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