• Post last modified:October 5, 2020
  • Post category:cycle shop insurance

Paradiso Insurance & Shark Cycle: Longtime FriendsPowersports are truly awesome.  Whether you are looking for an ATV to ride in the woods, a motorcycle to cruise briskly through the countryside, or a snowmobile to rocket you across a snowy field, Shark Cycle in Stafford Springs, Connecticut, is there for you.  They have the finest selection in new and used ATVs, motorcycles, and snowmobiles in the area.  Their expansive showroom is packed to the ceiling with vehicles, clothing, gear, and parts.  From Suzuki GSX-R’s to Polaris Rangers, Shark Cycle has it all.

            All of this stuff needs to be insured.  However, basic insurance is not enough to effectively cover Shark Cycle.  Instead of a generic business owner’s policy, Shark Cycle has an interesting policy known as “Garage Keepers Insurance”.  This policy is used to cover many different aspects of Shark Cycle’s business.  For example, let’s say that Polaris sells Shark Cycle a new ATV.  The ATV is not paid for yet, as Shark Cycle has 90 days to pay.  If this vehicle is stolen or vandalized, Shark Cycle needs to be covered.  Under the Garage Keeper’s Policy, Polaris will be paid (in full) for the price of the ATV.  While premiums may rise a bit, Shark Cycle will have to pay anything to Polaris.

            useme1Another great way to showcase a Garage Keeper’s Policy is to use the make-believe example of John.  John had a fantastic GSX-R that was in need of new brakes.  While in Shark Cycle’s shop, the bike was dropped and multiple things were broken.  A mirror was shattered, some plastic cracked, and some scuffing could be seen on the metal parts.  How could this be covered?  Shark Cycle did not own the motorcycle.  However, under a Garage Keeper’s policy, John did not have to pay a dime for the repairs of his bike.  Shark Cycle received money from their insurance company to replace the parts.

            stuff 047As you may expect, this policy can be quite expensive!  However, there are many ways Shark Cycle has lowered its premiums.  Business owners, take note!  Shark Cycle has recently installed many security cameras.  While these cameras were pretty expensive, Bob at Shark Cycle knew that it was a necessity.  Once Shark Cycle’s insurance company was told that Shark Cycle took the initiative to protect its inventory with some sort of theft deterrence, they lowered the business’s premiums.  Security cameras can literally pay for themselves over the course of a year or two!  This same principle applies to alarm systems and motion sensors.

            usem2Shark Cycle has been a great client of the Paradiso Team for many years.  Our two businesses are just as close in friendship as they are in location.  We look forward to insuring Shark Cycle for many, many years to come.

 To see Shark Cycle’s inventory, visit their website at www.sharkcycle.com.  For more information about Garage Keeper’s Insurance, or to find out how to lower your premiums, check out Paradiso Insurance’s website or call Chris at 800.66.2991.hiii 002

 – The Paradiso Insurance & Shark Cycle Team