What do you do when your Motorcycle Anti Theft Devices just don’t work and you end up with a stolen Motorcycle? You may have put effort into motorcycle theft prevention, you have the best motorcycle anti theft lock available and yet these awful things can happen. Motorcycle thieves are clever and they are fast, even motorcycle security lock systems like a disc brake lock are not enough to prevent a determined thief.
Being upset is normal, but it won’t help you to get your bike back. Will you get your bike back? Maybe, maybe not. But, if you have insurance, then you should be able to mitigate your losses. Therefore, remember that if you start to get too upset. After you’ve calmed down what should you do?
Here are 3 actions you can take right away, and a Bonus!
1. Call The Police
This should be the first thing that you should do. If you alert the police right away, there’s a chance that they’ll spot your motorcycle and be able to help you to recover it. Even if they can’t help you to recover it, they can at least help you to get the process started of recovering your losses.
When you call the police, give them as much information as possible. Tell them what your make and model number is, when the last time you saw your bike was, and where you last saw it. The police can use this information when they’re investigating and they may try to find video surveillance of the crime.
One thing you need to make sure that you do is get a case number when you file your report because your insurance company will need it.
2. Call Your Insurance Company
Why do you have insurance? For moments just like this. If you have full coverage insurance on your motorcycle, and you should if it’s a decent or nice bike, then you can file a claim to help cover your losses. You may not get everything back, but you should get enough to help take the sting out of the situation.
3. Call Your Lender
If you’re still making payments on your motorcycle, you’ll want to notify your lender right away. Your lender will contact your insurance company so that when a claim is filed they will get their money. That means that you’ll no longer be responsible for the balance that you owe on your motorcycle.
Will you get full value for your stolen motorcycle? Unfortunately, probably not. Motorcycles, like all other cars, depreciate in value. Most insurance companies won’t pay you the same amount that you paid when you purchased your motorcycle. While this is unfortunate, at least you’ll have the peace of mind of knowing that you won’t be responsible for the balance you owe.
Bonus Step: Make sure that you have enough coverage for your bike and for all of your motorcycle accessories! Don’t settle for less than adequate insurance cover. Contact our team and book your free insurance audit to make sure you are covered!