garage - pole barn insurance for vehicles and parts

[motorusti]

my homeowners insurance covers the structures and some parts and tools etc.
i have tried in the past to cover contents and multiple untitled vehicles (100+ motorcycles and parts cache), but have stumped my insurance agent. they can insure it as parts inventory, but the price is prohibitive ($3000/yr)

my auto insurance/haggerty/etc covers registered/titled vehicles.
no insurance for untitled/non-registered vehicles.

how do i cover parts bikes and unregistered vehicles as parts inventory?

 

[slip knot]

My homeowners covered my out buildings for 10% of the houses value. I had to add a rider to my policy to cover the shop for $70k. That's a value that I placed on it. they would cover it for whatever value I wanted to pay for. I think the added cost runs about $200/year.
If your agent has issues here it may be time for a different agent.

 

[DCarr2]

what you could be running into is the commercial end of it, as the average person doesnt have 100K worth of motorcycles and parts in their personal collection

 

[like2wheel]

my homeowners insurance covers the structures and some parts and tools etc.
i have tried in the past to cover contents and multiple untitled vehicles (100+ motorcycles and parts cache), but have stumped my insurance agent. they can insure it as parts inventory, but the price is prohibitive ($3000/yr)

my auto insurance/haggerty/etc covers registered/titled vehicles.
no insurance for untitled/non-registered vehicles.

how do i cover parts bikes and unregistered vehicles as parts inventory?

100+ bikes @ $3k/year is less than $30/bike - not including the parts cache.
You call that price prohibitive. What is this stuff realistically worth?

 

[jkeyser14]

Call Collectibles Insurance Company and tell them you want to insure a motorcycle collection. Cost is generally about $10/yr per $1k of coverage.

 

[Krist77]

If you have nice and valued motorcycle collection, better to insure it. Personally I don't have such experience, but my brother has about 4-5 motorcycle and he insured them in our insurance company: https://www.mis-insurance.com/motorcycle-insurance/ It costs from $6/month, I know it cos we both have there out home and auto insurance. Sorry I can't find your location in your profile, but that works in California, probably they have offices in other states, but you can just check the rate.

 

[buddyboy]

you gotta figure out what that stuff is worth to you, then take a percentage of that value and be willing to pay that per year as a premium.

if you're paying 10% of the value per year in 10 years you just rebought all your stuff.

I think I pay 1% per year for a personal item rider, i figure if I file a claim in the next 50 to 90 years I'll come out ahead!

call a commercial insurance agent and explain what you're looking to do and what your willing to pay

good luck