If your motorcycle was leased or financed, you will also need to inform your financial institution about the theft. They will likely collaborate directly with your insurance company to resolve the situation. It’s important to note that any funds provided by your insurance may be directed to the bank, rather than to you. The specific distribution of the payout will depend on the amount you had already paid for the motorcycle, if it was financed. The insurance company will settle the loan, and you may receive any remaining amount.

If the motorcycle was leased, you should notify the leasing agency. As a result, you will no longer have to make the remaining payments on the bike, your insurance company will settle your obligations, and the contract will be terminated. Ultimately, the financial institution or leasing agency will guide you through the necessary steps, and you will likely be assigned a point of contact whom you can reach out to with any inquiries or concerns.