General insurance Will Insurance Company Get You A New Motorcycle In Case If It Gets Stolen?

Good-Guy

VIP Contributor
I live in a kind of country where Motorcycle theft is a very common problem. Many people steal motorcycle and sell motorcycle parts into scrap market and they make "money" by selling motorcycle parts. This is a very big problem and the police also cannot help in most cases because one the motorcycle is stolen, it is less likely that the police will find it out because nothing is left from the motorcycle and your motorcycle may be changed entirely. In worst cases, your motorcycle may get smuggled to another country. So, do you think that insurance company will help get a new motorcycle in case if the motorcycle gets stolen? I am not that much knowledgeable when it comes to vehicle insurance, so this is why I am asking. Thanks!
 

Augusta

VIP Contributor
Yes I believe you would be gotten a new motorcycle because that's what you had insured but you shouldn't be thinking of a new model because they will give you the model you had insured. They are profit making organization so don't expect interest or profit of your insured item for whatever reason
 

sincerem

VIP Contributor
It's part of the agreement reached with the insurance company, you'll surely get a new one because you didn't contribute what made your motorcycle to be stolen. But if you knowingly did it, you will be tracked and insurance will banned you, you wouldn't receive any commission cos it's fraudulent.
 

Mandy96

VIP Contributor
Although I do not know about insurance very much but If I remember correctly I think compensation is one of the functions of any legit insurer and some cases, the word compensation simply means replacement because there might not be any other choice to provide another one if it’s beyond repair
 

Mataracy

VIP Contributor
Insurance company can be described as a company who is set up to stand against or provide for any body who insured under them should in case any incidence occur.
It is the duty of insurance company to provide for any lose that may arise if there is any accident or the property is been stole.
 

sincerem

VIP Contributor
Insurance company can be described as a company who is set up to stand against or provide for any body who insured under them should in case any incidence occur.
It is the duty of insurance company to provide for any lose that may arise if there is any accident or the property is been stole.
Provided the premium covers the incident, surely the company will cover up for the incident and the insured will be covered and the lose of the vehicle or Motorcycle will be breached. That's one of the benefits why it is advised to protect our lives and property due to the unannounced circumstances that can come anytime to thwart our plans.
 

Good luck

Valued Contributor
Under normal circumstances your insurance company should be able to get you a new motorcycle if the previous used is stolen since you insured it.That should be one of the benefits of having one's property insured.Atleast ,if they can't afford to get a new one ,they should be able to raise atleast 60% of the money to procure a new bike.
 

Mika

VIP Contributor
As far as I know, you don't get a new motorcycle from the insurance company if your motorcycle is stolen or is completely damaged. You will get financial coverage for your loss based on the terms and conditions you have agreed to. In most cases, the money you receive from the insurance company is not enough to buy a new motorcycle.
 

btaliat

VIP Contributor
If you are under insurance policy that cover motorcycle theft, there is high tendency that your motorcycle will be returned. But before this is done, the insurance company will have to do a lot of investigations to ascertain that it is truly stolen before they can give you another one.
 

lamia5765

VIP Contributor
Most of insurance companymay pay a pourcentage of loses some insurance are paying part of insurance while others full amount of refund like you rebuy a motorcycle and they refund you half of price deoending of insurance aggrement between you and insurance company.
 

Icon

Verified member
I think the answer is yes because when you join an insurance company it means they gat your back in good time and bad times I haven't join an insurance company before but some of my family members have joined some ensurace company and I am hoping to join one very soon
 

Nite

Valued Contributor
You will not get a motorcycle in return, instead you'll get the same amount as the declared value of the motorcycle, in case if your motorcycle gets stolen. And, it depends on your insurance provider, some insurance provider could refund the exact value of the vehicle, whereas some Insurance providers only refund the half of it. The procedure may vary from insurer to insurer, so you have to be ready with all the papers and a reasonable fullproof case.
 

funmi

Valued Contributor
The main reason why you insured it is to secure the future of the motor cycle should in case anything happen to it like theft, damage etc.
Therefore, it will be in the agreement form if you will paid for another motorcycle or they get a new one for you by the company itself. In some cases, the company may not take full responsibility of the replacement of the motorcycle. You and the company may have to share the lost depending on the percentage they wants to give you as agreed when you want to register with the insurance company. So,you must taken note of the terms and conditions of the company before you register with them.
 
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