My son worked in the insurance industry for a few years and I have friends that still do. The word i keep getting is that the insurers want out of providing coverage as the risk to reward ratio is way out of line. They feel they are losing too much on payouts against a fairly small revenue stream. The government has mandated that they have to provide it but they ain't happy about it.
A few years back, they got the bright idea of dissallowing modifications, originally performance only but they've been stretching that and now some insurers will not allow even a change of muffler as they term it a performance modification. That's pushing it but its often reason enough for the insured to say screw it and leave. That is what they want.
It seems absurd but
that is exactly what can happen. If you check with the insurer (not the agent) the insurance company, in the fine print, can deem work performed by non licenced individuals to void their coverage. One of my lawyer clients ( a rider himself) is defending someone involved in an accident because the insurer voided his coverage since he had himself had done a brake job or changed a brake master cyclinder or some such just before the accident. He may or may not have done things right but I believe he was or is a diesel mechanic.....but not a bike mechanic.
I cringe everytime I read of bikes having had a 7-11 swap for sale. They are definitely uninsurable and a sure way to bugger up you life if you cause an accident on one. Ask the poor guy in London , Ont a few years back. an accident happened, his isurer voided coverage and he was sued for millions. Ruined his life.
Unfortunately in this day and age here, the insurers have control and you really have to be careful in dealing with them because when it comes to payout time you have to know they are going to try and wiggle out of providing coverage.
Sad days friends.
Spy
A few years back, they got the bright idea of dissallowing modifications, originally performance only but they've been stretching that and now some insurers will not allow even a change of muffler as they term it a performance modification. That's pushing it but its often reason enough for the insured to say screw it and leave. That is what they want.
It seems absurd but
What next I put on my own brake pads so insurance declined
I cringe everytime I read of bikes having had a 7-11 swap for sale. They are definitely uninsurable and a sure way to bugger up you life if you cause an accident on one. Ask the poor guy in London , Ont a few years back. an accident happened, his isurer voided coverage and he was sued for millions. Ruined his life.
Unfortunately in this day and age here, the insurers have control and you really have to be careful in dealing with them because when it comes to payout time you have to know they are going to try and wiggle out of providing coverage.
Sad days friends.
Spy
Been off dealing with my own "other" bike.You surly have looked into the FZ forum.Found a good one for the KDX.Will be fun watching and good luck.
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