Settlement Types

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Settlement Types for Motorcycle Insurance

In case of a total loss, there are three types of settlements your insurance provider can offer you. Settlement types depend on the type of motorcycle you own as well as your policy.

Actual cash value

In order to figure out the actual cash value. You need the replacement cost minus the depreciation and deductible. This will determine the actual cash value.

Agreed value or stated amount

The agreed value or stated amount is the value of a motorcycle. This is agreed upon by the insurance provider as well as the policyholder in the contract.

There must be a CPE endorsement on the policy to receive compensation for custom parts.

More Information

Do you need more information about motorcycle insurance coverage, roadside assistance, or bodily injury coverage? Our agents and customer service representatives are here to help with your motorcycle insurance company needs. Call us today at 1-888-949-6289 or visit your nearest Insurance Navy location. For your convenience, Insurance Navy is open from 8 a.m. to 9 p.m. CST, 7 days a week.

Additionally, we can help you find a motorcycle insurance quote right on our website. Because we want  to help you save money wherever possible, we offer our insurance quotes completely free of charge. By navigating our website, you can also inform yourself about many useful topics, such as coverage for repairing or replacing parts for your car after a crash, how to file a police report,  and what kind of coverage the state requires you to carry.

We also have a strong presence on social media. Give us a like or follow on our Twitter, Facebook, Instagram, or YouTube page. We’ll keep you up to date on helpful collision coverage tips, local news and much more.

Lastly, we also have blogs that may help you with any questions you have. Our blogs cover many different topics. From how to keep your car cool in the summer, to proper steps to take after Godzilla damages your car.

*Please review your own policy carefully for details on motorcycle coverage. Settlement types vary by policy