Stolen bike reported as total loss by Insurance company

[sid_for_speed]

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My bike got stolen and I received cash payout from my insurance company. A few days later, I get a call from my insurance broker saying, the bike was reported as total loss and they need to know whether I'll be buying a new bike or not..

I decided to not buy a bike this year but I'll think about getting one next year. Question is , is it standard procedure to report a stolen bike as " total loss"? My perception is I'm at fault and my rates may go up. Am I wrong?

 

[Brian P]

Theft =/= collision. The theft shouldn't affect your rates (beyond possible impact of "claims-free discounts" and the like), but if it happens repeatedly, they may start asking questions (about your storage, etc.) and/or deny to offer further theft coverage.

 

[Trials]

ooooo personally
I would have said I am going to buy the absolute cheapest motorcycle to insure possible and asked them what that would be.
continuous record of motorcycle insurance is important to decent rates.

 

[Evoex]

yeah be careful not getting something insured to keep the record going. maybe consider picking up a used 300 or something you can turn around next year to get all your money back. you might be in for a surprise other wise.

you should not see rates go up from theft.

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