My motorcycle was stolen, and Allstate provided me with the theft coverage portion of my insurance. My motorcycle was a custom 2002 Yamaha R1.
My motorcycle was worth over $17,000, and I have all the receipts to prove this. The insurance company offered me $10,500 as settlement for my claim.
The insurance company based its price on a stock model motorcycle. I explained to them that the dealer from which I purchased the bike did this work prior to my picking up the bike.
I spoke with a representative from the New York State Insurance Department and was informed that the insurance company has to take into account the custom work done on the bike. The insurance company is not complying with this and will not pay me the amount I am owed.
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