Quick Answer: What happens when your motorcycle is stolen?

What are the chances of recovering a stolen motorcycle?

What are the chances of recovering a stolen motorcycle? According to the National Insurance Crime Bureau (NICB), back in 2019 you stood a 46% chance to have your motorcycle recovered.

What do thieves do with stolen motorcycles?

For cruisers and street bikes, thieves go to a junkyard, search for a wrecked motorcycle of a similar model and buy it. They switch the VIN, and the stolen motorcycle is marked as a salvage restore. After inspection, the motorcycle is insured and sold legally.

How often do stolen motorcycles get recovered?

But it is the state of California has the highest number of incidents with 7,532 recorded cases of stolen motorcycles. Thankfully, the state also ranks high in terms of recovery rate, with 3,423 bikes recovered, equivalent to 45%.

Is it worth reporting stolen bike?

Report the theft to the police

File a police report as soon as possible. This is really important. You might not have insurance. … But if they recover a stolen bike and you’ve filed a report with a serial number, they’ll link it to you and you’ll get your bike back!

What does insurance pay for stolen motorcycle?

Motorcycle theft claims usually take 30 days or less to process. However, settlement times can vary, depending on the complexity of the investigation. Typically, the insurer will settle the claim for the actual cash value of the bike; its depreciated value, minus your deductible.

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Do you pay excess If motorbike is stolen?

Normally if you’re not at home when your bike’s stolen they’ll pay out, but there may be an increase in the excess. Make sure you’ve got the right motorcycle cover with MCN Compare we compare against all the top insurers to ensure you get only the best deal.

What is the most stolen motorcycle?

motorcycles were stolen nationwide.

Most stolen motorcycle makes in the United States in 2019.

Characteristic Number of thefts
American Honda Motor Co., Inc. 8,122
Yamaha Motor Corporation 6,495
Harley Davidson, Inc. 4,737
American Suzuki Motor Corporation 4,686

Do I have to pay excess if my bike is stolen?

The best-case scenario if your bike is stolen when it should be garaged is that you’d have to pay an extra excess. Not all insurance companies have the same definition of what counts as a garage. So, if in doubt, chat to the insurance company beforehand.

Where do most motorcycle thefts occur?

Of motorcycles nabbed, most occurred in California (9,483), Texas (4,448), and Florida (4,223). As might be expected, the summer months tend to be when thefts occur with most in August (6,214) and July (5,855).