What insurance company does fire / theft only ? Don't need liability or collision | GTAMotorcycle.com

What insurance company does fire / theft only ? Don't need liability or collision

chiller

Well-known member
Site Supporter
Like the title says what insurance company does fire / theft only on a bike ? I will have this bike but won't be riding it on the street, so I don't need liability or collision I only want coverage for its storage in the garage from someone stealing it ...

Thanks.
 

Avi Singh

Well-known member
Site Supporter
Like the title says what insurance company does fire / theft only on a bike ? I will have this bike but won't be riding it on the street, so I don't need liability or collision I only want coverage for its storage in the garage from someone stealing it ...

Thanks.
I don't know of any in Ontario...
 

chiller

Well-known member
Site Supporter
hmm... well that really sucks ... I basically need only theft coverage for it while its in the garage, it won't be street plated this year either ...
 

bobjohnson

Well-known member
See if you can put it under a home owners/renters policy? But yeah, "storage" insurance doesnt really exist here, found that out when i tried to just get fire/theft on my car, was ridiculous and finally i just ended up getting full coverage under my dads name, since i wasnt going to be driving it anyway.
 

Avi Singh

Well-known member
Site Supporter
See if you can put it under a home owners/renters policy? But yeah, "storage" insurance doesnt really exist here, found that out when i tried to just get fire/theft on my car, was ridiculous and finally i just ended up getting full coverage under my dads name, since i wasnt going to be driving it anyway.
Property insurance policies specifically exclude vehicles (motorcycles or automobiles) from coverage.
 

i3kc

Member
You most likely won’t be able to find a stand alone policy for your bike with just theft and fire. However, you can try to contact your automobile insurer. If they have your auto(s), they should take your bike with just theft and fire. If they won’t then you can shop your auto and bike around and find a company that will.
 

ScoTTY88

Well-known member
StateFarm told me that when I leave in July for the Army I can take my colision, pay off the rest of my premium till that dat (its pro rated so I'll owe them + $500 or so) and then keep fire and theft on my bike for $15 a month....
 
StateFarm does it..

i have got it done for my bike last year.

What they want from you is.. if you have ownership of the bike and plate.
they would like to see that you have returned the plate to ministry so that way they are sure that you are not riding the bike for the season.
 

GS500

Member
Insurance companies are a continuous scam ! You will be quoted something stupid like $50.00 less a year. That's ONE YEAR for 4-5 months of riding. Wish this was Florida !!!

I wonder what the Insurance companies do for places like Florida and California ?

They ride all season so they MUST pay DOUBLE no ?
 

VifferFun

Well-known member
Site Supporter
Insurance companies are a continuous scam ! You will be quoted something stupid like $50.00 less a year. That's ONE YEAR for 4-5 months of riding. Wish this was Florida !!!

I wonder what the Insurance companies do for places like Florida and California ?

They ride all season so they MUST pay DOUBLE no ?
This horse has been flogged to death. If you're really interested, read my sticky since it is discussed there.
 

zone01racer

Member
Yes, state farm does it!

Confirmed!

I had done it on cars. I called to ask for fire theft only on the bike, and was told that the bike should have been fully insured at some point in time under my policy with them prior to switching to fire/theft only.

Hence, end of this upcoming season (after i've had the bike fully insured with them); I'll be able to swap to fire/theft only.

the cost is around 7$ or so... (don't quote me on the exact $ amount though.
 

anth1414

Well-known member
Site Supporter
do not mix cars and bikes.

because bikes are seasonal and not year around they are treated differently.

insurance companies are not stupid.

they know that if you have a motorcycle...you will phone them during the winter and ask for fire+ theft only. thus resulting in a lower premium...thus resulting in less money for them.

cars are different because they are all year round. if you have a lambo that you only drive in the summer... they are ok to allow you to have theft+fire during the winter months because you have another car that you pay to insure also.

if they allowed "storage" insurance for bikes.... everyone would be storing their bikes during the winter months without a replacement.

they got us by the balls.
 
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VifferFun

Well-known member
Site Supporter
Yes, state farm does it!

Confirmed!

I had done it on cars. I called to ask for fire theft only on the bike, and was told that the bike should have been fully insured at some point in time under my policy with them prior to switching to fire/theft only.

Hence, end of this upcoming season (after i've had the bike fully insured with them); I'll be able to swap to fire/theft only.

the cost is around 7$ or so... (don't quote me on the exact $ amount though.
By taking Liability and Accident Benefits off of your policy, you are cancelling these coverages. As a result, you will owe premium when you cancel these coverages because you will have likely used up more premium than you have paid. Read my sticky which will walk you through the details specifically as they apply to State Farm:

http://www.gtamotorcycle.com/vbforum/showthread.php?t=91969

In short, you save very little by taking Liability and Accident Benefits off the bike in the winter.
 

psycho44

Well-known member
Site Supporter
I did fire/theft only when I was with State Farm on 1 of my bike while my other bike was fully insured.
 

Ninjitsu

Well-known member
I finally pulled the trigger and bought my first bike this weekend. I'm not going to put it on the road this fall and was wondering what my insurance options are. I'm storing it in my buddy's garage and would like it to be insured for fire and theft. Is it possible to START a policy with fire and theft only? Based on what I've read above there is some confusion. The bike came safetied so I could plate it but it sounds like that would say to the insurance company that I'm going to ride it. Any advice would be appreciated. I will call State Farm as well seeing as they are mentioned above as a possible solution.
 

GreyGhost

Well-known member
Site Supporter
Insurance in the winter is cheap. Many companies do not want to write fire & theft only policies for bikes, but you may be surprised at how cheap full coverage is through the winter. Read the stickies by vifferfun to try to understand premium used versus premium paid.

Congrats on the bike, ride safe.
 

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