Motorcycle Insurance: Keep two wheels on the road!

Did you know that your Massachusetts Auto Insurance carrier will now allow you to add a motorcycle to your insurance? In most cases, you no longer have to get a separate policy just for the bike. www.jmdins.com

Up until April of 2008, that’s when Massachusetts insurance rates went competitive, riders had to buy a standalone policy. Now that’s no longer the case. It’s a small triumph for riders because it saves time and money.

A separate policy meant separate invoices, a separate billing fee, plus the fact that the owner couldn’t get a multi-car discount for having more than one vehicle on the policy. Your coverage premium can range from just a couple hundred dollars for a “basic” program, to a couple thousand, depending on year, make, and model of the machine. Whether you’re insuring the bike for physical damage (comprehensive and collision) and the operators driving experience are all factors in the final rate.

There are two areas of the policy that can increase the cost of motorcycle insurance dramatically. Your Massachusetts Motorcycle Insurance policy provides coverage for Medical payments. On your auto policy Med Pay is reasonable. You can buy $5000 in protection for about $15.00 a year. Not so with your motorcycle insurance, the same $5000 med pay can cost $150.00 or more per year.

The second area of your plan that can get a bit pricey is part 12, Under-insured motorist. If someone injures you while riding and they have “low” limits, you can protect yourself by purchasing increased underinsured motorist coverage. UM- is expensive when compared to your auto insurance policy. I don’t know why UM is so expensive. But, you can save $$ by lowering part 12. Have your agent explain it, or we can.

I hear from customers everyday…” my neighbor only pays $ X. How come my premium is $ Y?
We want you to be informed. We want you to be protected too. Come by with your neighbor. Tell them to bring their policy with them. We can review it together and make sure you get what you paying for.

For more than “37” years J.M. Doherty Insurance Agency, Inc. “steering you in the right direction”.
Thank you!!
HD

Massachusetts Auto Insurance: Claim Delayed

So one of the insurance adjusters I know tells me that there is a problem with a claim he’s been working on. The vehicle is a brand new, luxury model, SUV. With a price tag well over $50,000, this claim is getting some extra scrutiny. He tells me that the insurance company thinks there is something “fishy” with the body shop that is planning to do the repair work. “What do you mean “fishy”?” I asked him.

Each company has something called the special investigations unit SIU. They look at claims that are questionable in nature. It might be that the garaging of the vehicle wasn’t correct. It might be that a driver that had the accident was not a listed operator. In this case, the repair appraisal that was submitted by the body shop wasn’t consistent with the damage on the vehicle. “You mean the body shop caused more damage to the vehicle after the accident and then inflated the repair order?” That’s right he said. They think a sledge hammer was used.
This insured reported a “hit and run”. Unless the SUV was hit by a Mack Truck, something’s not adding up.
What’s next…Special Investigations will conduct some accident reconstruction experiments and try to determine if the damage is “in line” with the accident reported or not. If this proves to be inconclusive then they will side with the insured and pay the claim. It can take a month for the findings to be returned.

The customer is caught in the middle. The only thing this poor guy can do is wait. He doesn’t have use of the nice SUV that he is still paying for. The company even told the insured that they are not paying for the rental charges until this gets settled. The claim is in limbo until this all gets ironed out. There is nothing more frustrating than having to wait, and wait.

We hear about the unfortunate situations that people get into every day.
If you have a claim that ends up with “SIU” Special Investigation Unit, be prepared to wait. If your issue is simple like the correct garaging or adding that driver who should be listed anyway, DO IT, GET IT FIXED, GET THEM LISTED TODAY!

www.jmdins.com For more than “37” years “steering you in the right direction”
Thank you!!
HD