Here is a clip of a form letter I recieved regarding insurance on my VTR1000. I'll be sure to ask them if that means if I have an accident, does it mean I get the full value in return.

 

****, if thats the case id claim it stolen get 9 grand turn it into a track bike or part it out and buy another one for 3g and pocket the rest, lol

 

That letter from your friendly insurance company is all about getting you to pay a higher premium. Think about this way. Many, many more people don't have a crash/collision than do. If you raise the rates on every one, it's a net gain. I'd guess in the 10's of millions of $. Most people aren't going to bitch, change providers, etc because they think that they are getting something for the increased premium. Also I don't think that the fraudulent scams are statistically important compared to the over all gain in revenue.
Remember in the insurance industry spends every waking moment thinking of new ways to squeeze the turnip a little harder

 

the notice you have there actually says "VTF1000" as opposed to VTR. I wonder if they made a mistake???

 

Likely they meant VTR1000F

Mine must be worth at least $5K

 

Yeah... I'd say they have made 2 errors... One being spelling, the other being trying to raise the rates... I'd switch insurer...