The vast majority of us are riding with what’s called an “actual cash value” policy (ACV). If our motorcycle is totaled, we will get the actual cash value of that motorcycle. If you, as many of us do, see your motorcycle as something that you have a personal investment in and you want to protect that investment, then you need to make sure that you purchase more than just an ACV policy. Otherwise, your investment is at mercy of the free market, and the free market will almost always determine that your motorcycle is worth less than what you think it is.
To learn more about insurance, including scheduled or stated value insurance, gap insurance or insuring your bike as a classic, download a “Prepared Rider Kit” at motorcyclelawgroup.com. Matt Danielson is a partner at the Motorcycle Law Group, a personal injury law firm whose attorneys all ride motorcycles and practice in GA, VA, NC, SC and WV. Matt has successfully represented clients in cases from simple property damage to complex multi-million dollar personal injury claims. He is also a lobbyist, adjunct professor and works with motorcycle rights organizations. Matt Danielson, McGrath, Danielson, Sorrell & Fuller The Motorcycle Law Group 1-800-321-8968 MotorcycleLawGroup.com Matt Danielson is a partner at the Motorcycle Law Group, a personal injury law firm whose attorneys all ride motorcycles and represent clients in GA, VA, WV, NC and SC. He also serves as a lobbyist, adjunct professor and works with motorcycle rights organizations throughout the country.
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